Links 12 February 2014

Global Macro / Markets:

• Blankfein Says Emerging Markets in Better State Than in ’98 – Bloomberg
• What if Multiples Hadn’t Expanded in 2013? – Avondale Asset Management
• Bitcoin Flash Crashes, Drops By 80% In Seconds – Zero Hedge

North America:

• Even Among the Richest of the Rich, Fortunes Diverge – New York Times
• Boomers Turn On, Tune In, Drop Out of U.S. Labor Force – Bloomberg
• Shale gas and the housing market – VOX

Europe:

• Lord Turner: UK economy is like 90s Japan – The Telegraph
• Courts, voters and the threat of another euro crisis – Financial Times
• Swiss-EU power talks on hold after immigration vote – Reuters
• Germany’s Schaeuble sees no deflation threat in Europe – Reuters
• European banks are considering new ways to cushion the blow of U.S. financial-safety rules – Wall Street Journal
• EU Banks’ Debt Addiction Threatens ECB-Led Overhaul – Bloomberg
• Swiss Voters Narrowly Approve Curbs on Immigration – New York Times
• Eurozone banks face £42bn ’capital black hole’ – The Telegraph

Asia:

• Latest China Scam: I’ve Been Arrested in the Brothel Crackdown! – Wall Street Journal
• China’s 500-tonne gold gap fuels talk of stockpiling – Financial Times
• Borrowing costs are taking off in China, raising new risks – Wall Street Journal
• A Leading Chinese Economist Warns of a Difficult Year and ’Dead’ Companies – New York Times
• SEC Faces China Auditor Appeal as Ban Imperils Diplomacy – Bloomberg
• Chinese credit crackdown felt overseas – Financial Times

Local:

• Union officials behind Toyota exit, Government claims – The AFR
• Stakes high from political blame game – The AFR
• Qantas in “deep shit” over domestic strategy: Branson – The AFR
• Spin doctors assembled for Medibank privatisation – The AFR
• Local builders costliest in the world – The AFR
• Working-out the real cost of car industry support – The AFR
• Why Australia can learn from NZ’s economic success – The AFR
• Victoria faces jobs crisis over shutdowns – The AFR
• Victoria looks to Newcastle for clues to future – The Guardian
• Abbott signals help for Victoria – The Guardian
• Where our kids jobs will come from – The Age
• Cut tax in struggling regions: ANZ boss – The Age
• Closures won’t “crash” economy – The Australian
• Call to end tariffs – The Australian
• Abbott warns of cuts to benefits – The Australian
• Coalition tightens dumping laws – The Australian
• Bad subsidies hold-up worthy programs – The Australian
• Abbott’s promise of “better jobs” is cold comfort for car industry – The Guardian