Merry Christmas to the Macro Business community. We’ve had a cracking year and we couldn’t have done it without the support of our readers, so a huge Christmas thank you to all of you. From the Macro Associates Team to all our supporters, we hope you have a wonderful Christmas with friends and family and we look forward to an even bigger and stronger year in 2014.
Now some links…
Global/Macro
- Bits and Barbarism – Krugman
- There is no umbilical cord between government deficits and bond issuance – Billy Blog
- Wolf Richter: Financial Engineering Wildest Since The 2007 Bubble – Naked Cap
- Beware the New Normal – NYT
- Democracy, Redistribution and Inequality – NBER
- Capitalism: In search of balance – FT
- The bear case for gold – Focus on Funds
Australia & New Zealand
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- The Kouk predicts 2014 – Market Economics
- Transurban completes Tunnel debt buy – SkyNews
- New South Wales buyers propping up Brisbane’s housing market – Courier Mail
- Retailers get Christmas cheer from spendthrift consumers – ABC , I’m sure we get told this every year, I think I’ll wait for the actual data.
- Premier Campbell Newman caves in on Clive Palmer’s rail project – TheOZ , sorry missed this one yesterday.
- Aussies snap up our homes – NZ Herald, The shoe is on the other foot now ?
- Holden people: life beyond the factory – Guardian
- Sydney auction fever yet to fade – AFR
Europe
- Vince Cable: interest rates may have to rise to combat housing boom – Guardian
- Glimmers of hope for Greek future – BBC
- Norway’s oil fund faces key strategy decisions – FT
- Italy PM Letta pledges reform pact in January – Reuters
- Merkel Hits Wall With Europe Fix – WSJ
- Storm wreaks havoc in Britain, France ahead of Christmas – Reuters
- What could go very right in Europe. – The Reformed Broker
Asia
- China move calms credit concerns – BBC , all true. But as my favourite man at UBS tweeted yesterday “today relief in China mkts big drop in money rates but becoming a serial problem. bigger issue is taming credit genie while trying to reform”
- Chinese Rate Crunch Exposes Cracks – WSJ , and WSJ
- China to aim for 7.5 percent growth in 2014 as exports recover – Reuters
- Saudi Arabia unveils record budget – SkyNews
- Investors Shift Back Into China on Optimism About Structural Changes – WSJ
- Japan’s record budget spending highlights balancing act– Reuters
- Japan’s Nikkei 225 Extends Six-Year High on U.S. Data – Bloomberg
- China’s Space Diplomacy – The Diplomat
- The Pyongyang Purge – Project Syndicate
- Kim Jong-un: North Korean leader ‘was very drunk’ when ordering executions – The Independent UK
- Surge in cancer among young in Fukushima, but experts divided on cause – South China Morning Post
- Indonesia encouraging foreign investment – SkyNews
Americas
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- U.S. mortgage applications fall as refinance hits five-year low – Reuters
- PBS Drops a Bombshell on the Federal Reserve’s 100th Birthday Party – Wall street on parade
- Holiday sales down for 3rd week – AP
- US government sees Pacific trade pact talks taking time – Reuters
- Expiration of unemployment benefits threatens US recovery, adviser warns – Guardian
- Obamacare Sign-Up Extended as Record 1 Million Use Site – Bloomberg
Other/Interesting
- Google’s Schaft Robot Dominates Pentagon Contest – WSJ
- Under Pressure, White House Pulls Egypt Ambassador Pick – Foreign Policy
- The world’s newest country is already on the brink of civil war. Here’s how it happened. – WaPo
- Edward Snowden, after months of NSA revelations, says his mission’s accomplished – WaPo
- Snowden will help Germany investigate NSA spying if granted asylum – report – RT
- Who’s In Charge Here: The Surprising Science of Self Control – Forbes