China
- Downfall of two top China Resources officials came in quick succession, say sources (SCMP)
- Is China Really Prepared to Shift to Market Driven Interest Rates (Institutional Investor)
- Albert Edwards: China Headed Toward Outright Deflation (ValueWalk)
- China to play big role in new regional lender (SCMP)
- The changing fortunes of the Chinese renminbi – is the latest round of RMB weakness policy or market induced? (Bruegel)
- Suspicion grows that China is exporting deflation worldwide by driving down yuan (Telegraph)
- Budget Law Revision Proposes Letting Local Gov’ts Issue Bonds (Caixin)
- China’s Debt Endgames (Economonitor)
- How Vulnerable are Chinese Banks to a Real Estate Downturn? (Petersen Institute)
- China opens up infrastructure to private capital (Finance Asia)
- China’s Central Bank Looks for Better Monetary-Measuring Tools (RTE WSJ)
- Land Sales: The Ever-More Lucrative Habit China’s Officials Just Can’t Kick (RTE WSJ)
- Projects ‘should not be seen as stimulus’ (China Daily)
- View downward pressure on China’s economy correctly (China Daily)
Japan
- What is Mrs Watanabe Buying Now? (Marctomarket)
- Japan’s inflation rate has stalled as impact of yen depreciation wanes (Sober Look)
- Obama and Japan’s Abe fail to reach trade accord (LA Times)
- Costs keep mounting for idled reactors (Japan Times)
- Abe’s disturbing lack of focus (Reuters)
United States
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- U.S. Said to Ask BofA for More Than $13 Billion Over RMBS (Bloomberg)
- The Chinese take Manhattan: replace Russians as top apartment buyers (Reuters)
- Will the Weak Housing Market Pinch the Economy? (Economonitor)
- American state-backed mortgages are a $5tn millstone (FT.com)
- Why the housing sector won’t save the broader economy (MarketWatch)
- Why the Fed’s Taper Has Done Little to Move Mortgage Rates (National Mortgage News)
- Will the Weak Housing Market Pinch the Economy? (Economonitor)
- The “rental affordability crisis” is real, but it’s about declining real wages, not a bubble in rents (Bonddad)
- Americans think owning a home is better for them than it is (Washington Post)
- Fed Follies, U.S. Housing Market Fiasco (Market Oracle)
- Summers: Economic pickup could come on unstable ground (MarketWatch)
- The Next Massive Bailout: Student Loans (Time)
Canada
- Restaurants barred from using Temporary Foreign Worker Program (The Globe and Mail)
- In new world order, Canadian factories to fall behind (The Globe and Mail)…classic chart showing Australian labour costs in this…
- Reality Sinking In At The Bank Of Canada (Seeking Alpha)
- How Canada’s temporary foreign workers program became a victim of its own success (Financial Post)
- Federal government introduces wide-ranging pension reform plan (Vancouver Sun)
United Kingdom
- U.K. Retail Sales Unexpectedly Rise as Growth Gains Momentum (Bloomberg)
- FCA Said to Observe Banks’ London Gold-Fixing Calls (Bloomberg)
- Tougher mortgage rules come into force (Guardian)
- The strong pound is a myth – but in any case, bring it on (Telegraph)
Europe
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- Europe’s Next Moral Hazard (Project-Syndicate)
- Dark clouds threaten the EU’s respite (European Voice)
- Shrinking times – ECB excess liquidity falls below €100 billion (Bruegel)
- ECB QE: real prospect or fantasy game? (FT.com)
- Get Ready for Europe to Print – Core Euro CPI Annual Rate Matches Multi-Decade Low (Financial Sense)
- Europe is impotent in the face of deflation (Telegraph)
- Swedish lessons show even deflation cannot cure the house price bubble (Telegraph)
- France Is Right to Cut Runaway Social Spending (Petersen Institute)
- Putin Presents Bill To Include Crimea In Gambling Zone While Bank Of Russia Restricts Operations Of Ukrainian Banks In Crimea (IB Times) ….Crimea will make a spectacular gambling playground
- Battling for Ukraine with capital instead of combat (Institutional Investor)
- Weapon of Last Resort: ECB Considers Possible Deflation Measures (Der Spiegel)
Australia/New Zealand
- The next Canada? Rich mainland Chinese push New Zealand migration to 11-year high (SCMP)
- BHP link to impounded Japanese ship (The Age)
- Revenue squeeze is Joe Hockey’s sticking point (The Age)
- Sultans of super set on ‘developing’ your wealth (The Age)
- No tears shed for backward taxi industry (Pascoemeter SMH)
- High-risk loans akin to US subprime mortgages return to Australian markets (ABC)
- Coalition banks on blind faith in budget ‘fix’ (ABC)
Commodities
- Shanghai to Allow Raw Material Exchanges in Trade Zone (Bloomberg)
- Banks Exit from the Commodities Business Could Spell Market Woes (Institutional Investor)
- China opens Beijing to gold imports, cutting into Hong Kong’s transit role (SCMP)
- Bigger food price swings hit consumer goods groups (FT.com)
- Metals demand to slow in line with economy (SCMP)
- Everybody but the ‘Singapore curve’ thinks iron ore is going down (SCMP)
- How a Coordinated IEA SPR Release Could Enable Russia Energy Sanctions (Economonitor)
- Commodity Investors Brace for El Niño (MoneyBeat WSJ)
Global Macro
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- Strip private banks of their power to create money (FT.com) …a very good read…
- MMT Does Do Policy (Economonitor)
- The Future of the Captured State (Project-Syndicate)
- The Democratic Disruption of Finance (Project-Syndicate)
- Shiller: What We Can Learn from Past Crises (Caixin)
- Water Wars: The Next Clash between India and China (OilPrice)
- What Are the Economic Consequences of Climate Change? (The Atlantic)
- A billion shades of grey (Economist)
- Solar Power Is Booming, But Will Never Replace Coal. Here’s Why. (Forbes)
- The reckoning (Economia) ….Good review of The Reckoning: Financial Accountability and The Making and Breaking of Nations
- The Curse Of Riches: Resource Wealth And Social Progress (Seeking Alpha)
- The One Chart That Explains Our Grim Economic Future (Huffington Post)
- The Neo-Fisherite Rebellion (Noahpinion)
- Demography + Debt = Doom (Zero Hedge)
Egalité
- The Oligarchy Fallacy (Project-Syndicate)
- Oligarchy and Democracy in America (Huffington Post)
- Piketty’s “Capital,” in a Lot Less Than 696 Pages (HBR)
- Economic policy in a post-Piketty world (RWER)
- Inequality Is Not the Problem (NY Review of Books)
- Why We’re in a New Gilded Age (NY Review of Books)
- Ukraine’s path to oligarchy: Lessons for the U.S.? (Berkeley)
- Human capital and income inequality: Some facts and some puzzles (VoxEU)
- Want to Fix Income Inequality? Relink Wages to Productivity (Globalist)
- VIDEO – Piketty, Krugman, Stiglitz, and Durlauf on ‘Capital in the Twenty-First Century’ (EconomistsView)…..a good listen if you have 90 minutes spare…
Research
- What makes systemic risk systemic? Contagion and spillovers in the international sovereign debt market (Hong Kong Institute for Monetary Research – pdf)
- Federal Reserve Bank Governance and Independence during Financial Crisis (Levy Institute – pdf)
- Sectoral interdependence and business cycle synchronization in small open economies (Norges Bank – pdf)
- How the Swedish mortgage market has shaped the financial system (Riksbank – pdf) …..if only the RBA could come out with something like this…
- The long-term level ‘misalignment’ of the exchange rate: Some perspectives on causes and consequences (RBNZ) ……….what is the link between NZ productivity and immigration?…
And Furthermore…
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- The world’s boozing habits revealed. There are some surprises. (Washington Post)
- The Origins of Office Speak (The Atlantic) …. good quiz in this…