Links 24 October 2013

Global Macro / Markets:

• Bubbles Greenspan Says Stocks Are ‘Relatively Low’ and Heading Upward – Bloomberg
• Bubbles and leverage cause crises: Alan Greenspan – CNBC
• Just FYI, One of the World’s Smartest Money Men Says a Crash Worse Than 2008 Is Coming – Gawker
  
• The Age of Bullshit Investments Is Back! – New York Mag
• S&P 500 Rally Pushes Index Toward Biggest Annual Gain in Decade – Bloomberg

North America:

• Blackstone Funding Largest U.S. Single-Family Rentals – Bloomberg
• RICHARD KOO: I Can’t Find Anyone To Refute My Argument That America Is In A ’QE Trap’ – Business Insider
• White House says shutdown cost 120,000 jobs, 0.25% of 4Q GDP growth – White House

Europe:

• Spain Emerges from Two-Year Recession – New York Times
• ECB, on new mission, sets out tougher bank health tests – Reuters
• ECB starts comprehensive assessment in advance of supervisory role – European Union

Asia:

• Top China Banks Triple Debt Write-Offs as Defaults Loom – Bloomberg
• In China, Can Plutocrats Have Political Opinions? – New Yorker

Local:

•  Voters to decide on Abbott budget cuts – The AFR
• No silver bullet for budget bottom line: Hockey – The AFR
• The conversation on spending we had to have – The AFR
• Where Chinese property buyers are buying and how much they spend – The AFR
• Sydney leads housing growth – The AFR
• Abbott’s chance to seize the G20 lead – Business Spectator
• Inflation will stretch RBA expectations – Business Spectator
• The UN calls time on our carbon wars – Business Spectator
• Two better heads for Abbott’s audit – Business Spectator
• How the commodity game has changed – The Age
• Hockey’s buffer for economy – The Australian
• Joe should dampen meltdown fears – The Australian
• Pension burden top of the Audit list – The Australian

 Other:

• Ill-timed bet on mining sector bites Caterpillar – The AFR