Weekend links 27 April 2013

Global Macro/Markets:

• Placing The Current Rally In Perspective – The Fat Pitch
• Debt, Growth and the Austerity Debate – New York Times
• Reinhart and Rogoff – Responding to Our Critics – New York Times
• What a floating currency gives and what it does not – Financial Times

North America:

• A Tour of the Federal Budget and Possible Change in Budget Policy – Congressional Budget Office
• Real GDP increased 2.5% Annualized in Q1 – Calculated Risk
• The Seductive Simplicity of a New Banking Bill – New York Times
• Drop in Borrowing Squeezes U.S. Banks – Wall Street Journal
• Where are all the construction jobs? – Sober Look
• New Canadian rules threaten mortgage backed securities – Bloomberg

Europe:

• Bundesbank Blasts ECB Bond-Buy Plan in Opinion for German Court – Bloomberg
• ECB Data to Show Extent of Capital Flight in Cyprus – Bloomberg
• France Is Not Germany; It Is High On The List Of Crisis Susceptibility – Deutsche Bank – eFXnews
• WSJ: “Unemployment Hits New Highs in Spain, France” – Calculated Risk
• The UK’s tiny homes – About Property. Extreme urban consolidation (“smart growth”) in action.
• What happens to second steppers when 1st home buyers don’t buoy up the bottom step – Lloyds TSB
• French socialists attack ‘selfish’ Merkel – Financial Times
• Greece is seeking 162 billion euros in damages from Germany – The Guardian

Asia:

• BOJ Keeps Monetary-Expansion Plan as Deflation Deepens: Economy – Bloomberg
• China’s economy: Perverse advantage – The Economist
• China’s “if we build it, they will come” is now yielding diminishing returns – oftwominds

Local:

• Glut of vacant land hurting developments – News.com.au
• SQM forecasts Melbourne house price recovery – Property Observer
• Majority of economists still say no rate cut on May 7, and June looks 50/50 – Property Observer
• Falling housing affordability drives bigger Sydney households – The SMH
• Austerity slips out of fashion amid recession risk – The SMH
• Inflation not always a monster – The Age
• High wages drive LNG projects away – The Age
• Hold on tight, economy’s headed for a fall – The Australian
• Farmers hit by debt, dollars, cost – The AFR
• Budget alarm bells. It’s the spending stupid – The AFR
• Canberra will have hell to pay on housing – The AFR

Other:

• Grasping At Straw Men – New York Times
• What If We Never Run Out of Oil? – Charles C. Mann – The Atlantic