Links 27 July 2013

Global Macro/Markets:

• Did Capitalism Fail? The Financial Crisis Five Years On – ineteconomics.org

North America:

• Fed Likely to Consider Refining Easy-Money Message – Wall Street Journal
• Summers dismissed QE effectiveness – Financial Times
• Larry Summers Is An Unrepentant Bully – Huffington Post
• Analysis: How much is Fed aid to U.S. corporate profits worth? – Reuters
• Fed Chief Choice Shapes Up as Race Between Summers, Yellen – Wall Street Journal
• Fed Chairmanship Race Is a Bad Romantic Comedy – New York
• There’s No Formula for Fixing Detroit, and That’s a Good Thing – HBR

Europe:

• Greece Acts to Ensure Next Loan – Wall Street Journal
• IMF fears Fed tapering could ‘reignite’ euro debt crisis – The Telegraph
• ECB should cut rates, launch new cheap loans to banks to help growth – Reuters
• UK GDP growth of 0.6% shows ‘Britain is on the mend,’ says George Osborne – The Guardian

Asia:

• Worries about China – Econbrowser
• How Japan Could Go from Deflation to Hyperinflation in a Heartbeat – Wall Street Journal
• China unveils ‘mini stimulus’ to curb slowing growth – The Telegraph
• Is China’s debt nightmare a province called Jiangsu – Reuters

Local:

• Labor reels from $20 billion budget hole – The AFR
• Net negatives of Abbott’s electability worsen – The AFR
• Economic reality is hard to sell – The AFR
• Waiting for the bust to settle – The Age
• NBN subbies face “ruin” – The Australian
• Abbott can win on carbon: here’s how – Business Spectator

Other:

• The countries not letting a crisis go to waste – Reuters
• There are better gauges of economic health than clumsy GDP – Financial Times