Links 21 May 2014

North America:

• Yellen Adds Disadvantaged to Full-Employment Definition – Bloomberg
• “Some thoughts on the muni market” – Calculated Risk
• The Big Debate – New York Times
• Growth in Federal Reserve assets and growing worries about inflation – Wall Street Journal
• Bankrupt Housing Policy – New York Times
• New York Is a Hub in a Surging Heroin Trade – New York Times
• Nearly 10 million U.S. households remain stuck in homes worth less than their mortgage. – Wall Street Journal

Europe:

• Ukraine Crisis Pushing Putin Toward China – New York Times
• Russia Close to $400 Billion Gas Pipeline Deal in Pivot to China – Bloomberg
• Russia Fails to Sign China Gas Deal at Shanghai Meeting – Bloomberg
• Stalin-Mao Roles Reverse as Putin Courts Chinese Investment – Bloomberg
• EU Commission charges HSBC, JPMorgan, Credit Agricole with rigging – Reuters
• Dimon-by-the-Sea Shows London Banking’s Engine of Growth – Bloomberg

Asia:

• China Halts Cybersecurity Cooperation After U.S. Spying Charges – Bloomberg
• For U.S. Companies That Challenge China, the Risk of Digital Reprisal – New York Times
• China confronts U.S. envoy over cyber-spying accusations – Reuters
• Tighter Labor Conditions a Double-Edged Sword for Japan Economy – Wall Street Journal

Local:

• How tax reform could spread to the states – The AFR
• Health system will return to blame shifting – The AFR
• Who’s next on ICAC’s hit list – The AFR
• Keeping carbon trading could avert Budget cuts – The AFR
• Call to access over-60s seeking early access to super – The AFR
• Treasury warns of possible ‘fiscal drag’ – The AFR
• Henry Review member calls for increase in GST – The AFR
• PM urged to cut funding drip – The Australian
• Budget critics show double standards – The Australian
• Family First threatens to bring down Vic Government – The Australian
• Pressure on access to super savings – The Australian
• Iron ore fall to hammer junior minors – The Australian
• Referrals account for spiralling Medicare costs – The Australian
• Consumer confidence fears – Canberra Times
• Opposition grows to ‘rail tax’ – Canberra Times
• What’s inside Joe Hockey’s head – The Age
• Parko: super age will almost certainly rise too – The Age
• Prepare for a softening of wage growth – Business Spectator
• Blame Canberra? Why should we? – Business Spectator
• RBA can take path of least resistance on rates – Business Spectator
• Hockey sues Fairfax – The Guardian

Other:

• Peer-to-peer lending: The wisdom of crowds – Financial Times
• The Big Melt Accelerates – New York Times
• Tax Cuts Don’t Work Miracles – Bloomberg