Links 7 October 2013

Global Macro / Markets:

• Global economy in ‘epic scale’ change, says IMF’s Lagarde – Financial Times
• Hedge Funds Used Obscure Bond Bet to Win in GM Bankruptcy – Bloomberg

North America:

• US surpasses Russia as world’s top oil and natural gas producer – The Guardian
• Shutdown will stall home loans for thousands – Washington Post
• Economic Confidence Plummets as Gov’t Shutdown Begins – Gallup
• Dancing on the Edge of Default – New York Times
• The most often repeated fact about US debt is wrong – Quartz
• Fed’s Bernanke focused on whether bond-buying works, Fisher says – Reuters
• Understanding the Game Being Played in Washington – HBR
• White House’s hard line on shutdown, debt ceiling has risks attached – Wall Street Journal
• Experts See Potential Ways Out for Obama in Debt Ceiling Maze – New York Times
• Economists fear debt ceiling fight may bring recession – CNN Money

Europe:

• Swiss to vote on 2,500 franc basic income for every adult – Reuters
• There’s no point trying to live in London – Financial Times
• Italy’s productivity puzzle – The Economist
• Swiss Regulator Probes Banks Over Currency Manipulation – Bloomberg
• The Legacy of Austerity in the Eurozone – ceps.edu
• Crisis Control: Stability Fund Chief Expects Third Greek Bailout – Der Spiegel
• Handelsblatt asks, “Where is the inflation?” – Open Europe Blog

Asia:

• Chinese Land-Use Rights: What Happens After 70 Years? – Chinasmack
• Bank of Japan warns of severe global impact from U.S. fiscal standoff – Reuters
• BOJ Refrains From More Stimulus as Business Confidence Rises – Bloomberg

Local:

• Imagining economic life without the car industry – The AFR
• Chris Joye: Property investors should analyse value – The AFR
• Hockey off to NY to explain when debt is good – The AFR
• Darwin sheds boom/bust tag – The AFR
• Bank CEO not worried about property bubble – The Australian
• Call for ‘front-door’ asylum charge – The Australian
• The Solution for retail – The Age

Other:

• Madoff Ex-Worker Trial to Shine New Light on Ponzi Scheme – Bloomberg
• Ken Rogoff’s FAQ, responses to criticism of Reinhart-Rogoff debt study – Harvard