Links 21 January 2014

Global Macro / Markets:

• Could Krugman’s Nemesis Friedman Be Bitcoin’s Mysterious Creator? – Bitcoin Magazine
• The relevance or otherwise of the central bank’s balance sheet – Bank of England
• How bank reserves make the gap between deposits and loans disappear – Sober Look

North America:

• Does America’s survival mean that it’s a resilient country? – Noah Opinion
• Spot The Labor Force Collapse Culprit – Zero Hedge
• Bye, Bye Bernanke – Business Spectator

Europe:

• IMF Upgrades UK Growth Forecast Above Rivals – Sky.com
• David Cameron faces EU isolation on anti-immigration stance – Financial Times
• The real scandal is France’s stagnant economic thinking – Financial Times

Asia:

• China abandons failed cotton stockpiling programme – Financial Times
• China’s economy grew 7.7% in 2013 because Beijing got nervous and started juicing – Quartz
• No, Beijing residents are NOT watching fake sunrises on giant TVs because of pollution – Feedly.com
• Chinese Money Markets Spooked Despite Slight Beat (And Miss!) In GDP – Zero Hedge
• China’s working population falls again – The AFR

Local:

• Business celebrates AUD fall – The AFR
• Weaker AUD threatens retail margins – The AFR
• Negative gearing fills crucial housing gap – The AFR
• First home grants hinder young – The Australian
• Housing policy needs a rethink – The Australian
• End of resources boom opens some doors – The Australian
• Credit demand subdued other than for homes – The Australian
• Shell cuts jobs, sells LNG stakes – The Australian
• Public or private? $430k school question – The Age
• Bond buyers pick Italy over Australia – The Age
• How safe is your highly skilled job? – The Age
• Rethink on LNG looms large – The SMH

Other:

• This Is What Google’s Self-Driving Car ’Sees’ as It Makes a Turn – Mashable
• The Undeserving Rich – New York Times
  
• Rigged rules mean economic growth increasingly “winner takes all” for rich elites all over world – Oxfam
• Oxfam: 85 richest people as wealthy as poorest half of the world – The Guardian
• IMF warns on threat of income inequality – Financial Times
• Davos debates income inequality but still invites tax avoiders- The Guardian
• For the Love of Money – New York Times