Links 31 May 2013

Global Macro/Markets:

• No saviour in sight as world credit cycle rolls over – The Telegraph
• Austerity is a moral issue – Reuters
• Spurring growth in an era of constraints – Econbrowser
• Why Bonds Are Getting Slammed – Business Insider

North America:

• Return of the Housing Bubble? – cepr.net
• Once again, the US consumer is expected to save the day – Sober Look
• Why Can’t America Be Sweden? – New York Times
• The Economic Outlook and Monetary Policy – Boston Fed
• September Looking Good – Tim Duy’s Fed Watch – Economist’s View

Europe:

• No cause for relief—austerity will indeed drag hard on the economy in 2013 and 2014 – epi.org
• German anti-euro leader open to working with Merkel – Reuters
• Don’t be fooled by the false economic recovery – The Guardian

Asia:

• Nikkei Falls Over 5% – Business Insider
• Tokyo Shares Down Sharply – Wall Street Journal
• Japanese Stocks Fall 5% With Market Uncertain Over Growth – New York Times
• Japan fund managers cut JGB weighting to an 18-month low – Reuters
• China Failure to Grow With $1 Trillion Is Warning to Li: Economy – Bloomberg

Local:

• Colebatch nails the mining capex story – The Age
• Japanese Housewives Cooling on Aussie Uridashi – Bloomberg
• Is there any merit in the push for a currency union between Australia and NZ? – Business Spectator
• Is the Australian property market going ‘to hell in a handbasket’? – Property Observer
• Labor creates army of sockpuppets to manipulate disucssion on Twitter, forums & site comments – The Age
• Australia ‘hopelessly behind’ on corporate bonds markets – Business Spectator

Other:

• Do falling tax rates explain the rising incomes of the top 1%? – milescorak.com