Links 28 August 2013

Global Macro/Markets:

• We May Be In The Early Stages Of The Next Global Economic Crisis – Business Insider ; The AFR
• Nothing screams shadow banking quite like a leveraged loan ETF – Financial Times
• Fed Shouldn’t Ignore Emerging Market Crisis – Wall Street Journal

North America:

• Team Obama source predicts Summers will be named Fed chief in a few weeks but ’still being vetted’ – CNBC
• Hamptons McMansions Herald the Return of Excess – New York Times
• America Resilient Five Years After Great Recession – Bloomberg
• ’The Great Shift’: Americans Not Working – New York Times
• Lew to Congress: Raise debt ceiling before mid-October – CNNMoney
• Case-Shiller: Comp 20 House Prices increased 12.1% year-over-year in June – Calculated Risk
• U.S. Poised to Become the Low-Cost Manufacturer of the Developed World – HBR
• Housing Recovery in Phase Three: Market 64% Back to Normal – Trulia Trends
• U.S. faces mid-October deadline to raise debt limit – Washington Post

Europe:

• Leverage ratio changes threaten European clearing model, industry warns – risk.net
• UK hailed as best place in Europe for entrepreneurs – The Telegraph
• Start-Ups Fill Void Left by Spain’s 26% Unemployment Rate – Bloomberg

Asia:

• China’s antitrust probes not just aimed at foreign firms: official media – Reuters
• China Trainmakers’ Profits Decline on Lack of New Orders – Bloomberg
• Indian rupee plumbs new depths as confidence in government ebbs – Globe & Mail
• The debt dragon: Credit habit proves hard for China to kick – Financial Times
• The Great Asian Sell-Off – Foreign Policy

Local:

•  Coalition falls $27 billion short on promises – The Age
• McMillan Shakespeare hits out at Labor tax policy – The Age
• Coalition victory no cure-all for business confidence – The Age
• Hockey scrambles on Budget costings – The AFR
• The Coalition’s Budget defecit – The AFR
• Superannuation rent seekers at it again – The AFR
• Coalition’s Budget pledge casts doubt over return to surplus – The Australian

Other:

• Lehman’s Morbid Legacy by Mohamed A. El-Erian – Project Syndicate
• Saudis offer Russia secret oil deal if it drops Syria – The Telegraph
• The Real Trouble With Economics – New York Times
• Emerging Markets Should Quit Their Whining – Bloomberg
• Most Efficient Health Care: Countries – Bloomberg