Links 22 January 2014

Global Macro/ Markets:

• Who are the new middle classes around the world? You’d be surprised how poor some are – The Guardian
• Deflation spectre rising as IMF raises growth forecast – The AFR
• IMF warns on haste to raise rates – The Australian

North America:

• Get ready, the indispensable Americans are pulling back – Financial Times
• US oil demand growth outstrips China in 2013, says IEA – Financial Times
• The Federal Budget, Per Person – New York Times
• Teen employment isn’t really very well correlated with the minimum wage – Mother Jones

Europe:

• Decline in the number of monetary financial institutions continued in 2013 – European Union
• Norway’s $833 billion oil fund eyes riskier bets – Reuters
• EU energy costs widen over trade partners – Financial Times
• Euro and Non-Euro Countries and Fiscal Policy – Econbrowser

Asia:

• Major internet outage hits millions in China, cyberattacks suspected – SCMP
• China makes it easier for banks to write off bad loans – Wall Street Journal
• Westerners are so convinced China is a dystopian hellscape they’ll share anything that confirms it – Quartz
• Free trade deal too hard, says Malaysia – The AFR
• Can China walk the reform talk – Business Spectator

Local:

• Abbott to override all parental leave schemes – The AFR
• Priced-out home buyers turn to Brisbane – The AFR
• CEOs call for big infrastructure spend – The AFR
• Experts pick subdued Q4 inflation result – The AFR
• Appeal for $330 million after Holden exit – The Guardian
• SA’s Holden cash plea ridiculed – The Australian
• Miners at risk as iron ore price falls – The Australian
• Best super fund returns in 20 years – The Australian
• Boost jobs for the disabled – The Australian
• Not enough money for welfare, then why the rich amnesty – The Guardian
• Economy in doldrums, public feels – The Guardian

Other:

• Banks Don’t Lend Out Reserves – Forbes
• What most people get wrong about macroeconomics – The Week
• Millennials! Let’s battle the boomers and Gen Xers – Salon.com