Links 27 August 2013

Global Macro/Markets:

• We’re All Still Hostages to the Big Banks – New York Times
• Two Minutes That Shook Nasdaq – Wall Street Journal
• Multiples Expanding Fastest Since Dot-Com Bubble as Rally Ages – Bloomberg
• Global corporate bond issuance at lowest level in five years – Financial Times
• U.S. regulators, Bitcoin group to discuss digital currency – Reuters

North America:

• The future is still bright for the US economy – Calculated Risk
• The Taper Versus The Crazy – New York Times
• Stagnant wages are crimping economy growth – Wall Street Journal
• Fed Officials Rebuff Coordination Calls as Stimulus Taper Looms – Bloomberg
• Wall Street Is So Obsessed With The Taper, It’s Missing The Bigger Threat Coming Out Of Washington – Business Insider
• Bankers Brace for Fed Bond-Buying Wind-Down – Wall Street Journal

Europe:

•  The secret plane stuffed full of cash that saved the euro – Mail Online
• ECB Council Members Split in Jackson Hole Over Room for Rate Cut – Bloomberg
• A Proud Nation Ponders How to Halt Its Slow Decline – New York Times

Asia:

•  China Growth Can Sink Closer to 6% on Waning Job Needs: Economy – Bloomberg
• China economy showing clear signs of stabilization: stats bureau – Reuters

Local:

• Reality hits Labor with 12 seats lost – The Australian
• Rudd to outline plans for more job cuts – The Australian
• Big push for small business – The Australian
• Japan ups ante on gas push – The Australian
• Nation’s railways inadequate – The Australian
• Abbott under fire on surplus – The AFR
• Why we should not trust Tony Abbott – The Age
• Abbott will need to cut deep – The Age

Other:

• Michael Lewis on Writing, Money, and the Necessary Self-Delusion of Creativity – brainpickings.org
• Working round the clock is a poor use of time – Financial Times
• How Technology Wrecks the Middle Class – New York Times
• Globalisation is killing the middle class – The AFR
• What Is Economics Good For? – New York Times
• Commercial Banks As Creators of “Money” – New York Times