Links 11 March 2014

Global Macro / Markets:

• Nouriel Roubini: Bitcoin Is a ‘Ponzi Game’ – Wall Street Journal
• Global Debt Exceeds $100 Trillion as Governments Binge, BIS Says – Bloomberg
• Who holds and prints the $100trn-worth of global debt? – Financial Times
• Forward guidance threatens to ‘encourage excessive risk’ – Financial Times

North America:

• Fannie, Freddie could send $179.2 billion to taxpayers: White House – Reuters
• Taxpayers lost $105 million on pennies and nickels last year – Washington Post
• This is what a job in the U.S.’ new manufacturing industry looks like – Washington Post
• The GOP must try to win over African-Americans – The Week
• Beyond the Unemployment Rate: Eight Different Faces of the Labor Market – New York Fed
• The share of new homes being built as rental apartments is at the highest level in at least four decades – Wall Street Journal
• The Fed’s next focus is on wages – Financial Times
• This Is the Fed’s Most Brazen and Least Known Handout to Private Banks – New Republic

Europe:

• Cyprus central bank boss Panicos Demetriades resigns – Wall Street Journal
• Big banks face up to €10bn in legal costs – Financial Times
• Top German body calls for QE blitz to avert deflation trap in Europe – The Telegraph
• Britain: Filling a Hole With Real Estate – Wall Street Journal
• Once again national interests undermine Europe – Financial Times
• Russia bears down on US energy protectionism – The AFR

Asia:

• Japan in record deficit, growth slows – BBC
• Tokyo Radiation Less Than Paris’s Three Years After Meltdown – Bloomberg
• China bond default unlikely to spark domino effect – Financial Times

Local:

• Iron ore savaged over China fears – The AFR
• Ore giants suffer $16 billion Chinese burn – The Australian
• Abbott eyes Liberal clean sweep – The AFR
• Industry funds open second front against Sinodinos – The AFR
• Building industry enjoys fortune turnaround – The AFR
• ALP housing scheme abused – The Australian
• Loophole turns rent scheme into uni rort – The Australian
• SPC’s now looking peachy – The Australian
• Gas costs see food sector blow-up – The Australian
• Lost jobs to cost Budget $600 million – The Age
• Red tape smoke and mirrors – The Age
• Abbott’s paid parental leave plan will not improve worker participation – The Guardian

Other:

•  Barely Keeping Up in TV’s New Golden Age – New York Times
• The Infinite Lives Of BitTorrent – Fast Company
• A Top-Heavy Focus on Income Inequality – New York Times
• Why are markets inefficient and what can be done about it? – Financial Times
• NZ election to be fought over cost of living, housing – The AFR