Links 1 May 2014

Global Macro / Markets:

• Growth in Global Trade Is in Ideas, Not Stuff – New York Times
• Financial Bloggers and Information Asymmetries in the Stock Market – ssm.com

North America:

• Leveraged loan crackdown drives borrowers to ‘shadow banks’ – Financial Times
• U.S. growth stalls – Econbrowser
• GDP Slows to Crawl in First Quarter, Up 0.1% – Wall Street Journal
• Why economic growth ground to a halt last quarter – VOX
• A Low-Wage Recovery? The Evidence Isn’t There – New York Times

Europe:

• Tax avoidance: The Irish inversion – Financial Times
• Monetary developments in the euro area – European Union
• Chart of the day: US vs UK median real wage growth since 1988 – Financial Times
• Draghi Tells German Lawmakers ECB Bond-Purchases Unlikely – Bloomberg
• Investors are ignoring eurozone risks – Financial Times

Asia:

• Japan’s manufacturing contracts for the first time in 14 months – Sober Look
• China poised to pass US as world’s leading economic power – Financial Times
• Crowning the dragon – The Economist
• China passing the US: Nonsense – Aei-Ideas
• News China’s economy could overtake the U.S.’s this year is only part of the story – Wall Street Journal
• Narendra Modi: India’s Jekyll and Hyde – Financial Times
• China Has Accomplished Something In Global Trade Not Seen Since Colonial Britain – Business Insider

Local:

• Experts put axe in PM’s hands – The Australian
• China trade blitz pays dividends – The Australian
• Levy a tolerable price – The Australian
• Woolworths: don’t bleed consumers dry – The Australian
• Welfare cuts hits Howard’s battlers – The Australian
• Canberra to be cut to the bone in Audit report – Canberra Times
• “A pretty aggressive hatchet job’ for PS – Canberra Times
• Obsession with debt not warranted – Canberra Times
• Victoria, NSW at odds over ride sharing via Uber – Canberra Times
• Why are fat cats advising us on rich-poor gap? – Canberra Times
• Fighting off a gas price hike – Business Spectator
• Greens may not back fresh tax hike – Business Spectator
• Budget razor gang targets fuel tax credit – The Guardian
• PPL scheme puts Budget strategy in jeopardy – The Guardian
• Car industry exit fund topped up – The Guardian
• Progressive voters need to acknowledge Budget realities – The Guardian

Other:

• Shale Drillers Feast on Junk Debt to Stay on Treadmill – Bloomberg
• Rent Too High? Move to Singapore – New York Times
• Why Piketty’s Book Is a Bigger Deal in America Than in France – New York Times
• The nine stages of the Piketty bubble – Financial Times