Links 14 August 2013

Global Macro/Markets:

• Are we doomed? – The Economist

North America:

• Obama’s dangerously heroic view of the Fed – Reuters
• Speech: Policy Actions and the Economic Outlook – frbatlanta.org
• Credit as percentage of banks’ balance sheets lowest in 40 years – Sober Look
• U.S. retail sales data points to improving economy – Reuters
• What People (Don’t) Know About The Deficit – New York Times
• The U.S. Virgin Islands are in a Catastrophic Recession – Slate
• Investors euphoric as US margin debt reaches ‘danger’ levels – The Telegraph

Europe:

• Did QE punish savers for nothing? – The Telegraph
• Irish Banks Chasing Defaulters Who Sleep Well at Night – Bloomberg
• UK’s Great Recession – True Economics
• UK borrowing costs rise to highest in two years – Financial Times
• Europe Growing Again Means Boost for Global Economy – Bloomberg
• UK inflation eases as property prices spike – The AFR

Asia:

• Abe Threatens Ministries With Power Shift Rivaling MacArthur – Bloomberg
• Air pollution takes toll on China’s tourism – Yahoo

Local:

• Australia, Brazil currencies to be hit by Fed changes to QE – Reuters
• Treasury warns of a decade of Budget blowouts – The AFR ; The Australian
• Iron ore may lift mining profits – The AFR
• SMSF’s property pitfall – The AFR
• The next Chinese boom: Australian wheat – The AFR
• Abbott & Rudd unite to win hollow victory on GST – The AFR
• Budget “fancifully optimistic” – The Australian
• No relief in doll queue – The Australian
• Worst is over for housing: Stockland – The Australian

Other:

• In One Bundle of Mortgages, the Subprime Crisis Reverberates – New York Times
• Why the Fed’s Janet Yellen says banks need tougher rules. – Wall Street Journal
• Why “saving” should be abolished – Worthwhile Canadian Initiative
• Is It Nuts to Give to the Poor Without Strings Attached? – New York Times