Weekend Links 20-21 September 2014

China

• China’s job market said ‘severe’, finding work difficult – survey (SCMP)
• China debates how to impose carbon caps (FT.com) ...and a call to Australia may not help them...
• Amid Market Downtown, China’s Developers Dig In (Caixin)
• In Praise of China’s New Normal (Project-Syndicate)
• 500 Bln Yuan Question: Is PBOC Going to Ease Liquidity for Certain Banks? (Caixin)
• Taking Stock of the Shanghai FTZ after One Year (Peterson Institute)
• Chinese Property Investors Make Big Bets Overseas (WSJ)
• China fines GlaxoSmithKline $492M for bribery (Washington Post)
• PBoC joins other major central banks with unconventional monetary policy action (Sober Look)
• Xi who must be obeyed (Economist)
• Slowdown the lesser of two evils as China restructures (Want China Times)
• China Fines Glaxo $489 Million, Ending Bribery Probe (Bloomberg)

Asia

• Japan government cuts economic view, warns of stalling consumption (Reuters) ...yuck…
• Doubts raised on Singapore-Taiwan exchange link (Euromoney)
• Pioneer’s exit from stereo components marks end of era (Nikkei Asian Review)

Europe

• Weak ECB loans demand paves way for ‘QE’ (FT.com)…well this will help keep the AUD at nosebleed levels…
• ECB’s favoured measure of inflation expectations hits new low (Reuters)
• Europe’s Bargain (Project-Syndicate)
• Russia’s Putin says sanctions violate principles of WTO (Reuters)
• Euro carry trade the new ‘Bernanke put’ (Euromoney)
• Fact: T.L.T.R.O. is Too Low To Resuscitate Optimism (Bruegel)
• Sistema’s owner Yevtushenkov arrested in Moscow over Bashneft acquisition (BNE)
• Russian PM Medvedev vows to keep economy open, hails pivot to China (Reuters)
• Battle with Yanukovych corruption legacy moves hesitantly forward (BNE)
• CEE caught between Ukrainian crisis and Fed tightening (BNE) 

United Kingdom

• Tax changes hit wealthy foreign homebuyers (FT.com)
• What Next for the United Kingdom? (Piera)
• The London problem: has the capital become too dominant? (NewStatesman)
• The average working life isn’t long enough to pay for a house (Telegraph)
• Westminster must grant our cities the same powers it’s giving Scotland (Telegraph)
• Scottish referendum: Out of the frying pan into the fire (Telegraph)

 United States

• Fed’s Fisher: wages rise when joblessness drops below 6.1 percent (Reuters)…and if they don’t?
• Obama’s biggest economic policy mistake (Vox) …well worth a read…
• Janet Yellen vs. the Inflation Zombies (Fortune)
• Baby Boomtowns: The U.S. Cities Attracting The Most Families (Forbes)
• The Return of King Dollar: A Sign of a stronger America? (Moneynews)
• New York Fed Takes Aim at Bank Culture (WSJ Moneybeat)
• Inflation Remains a No-Show (Dr Ed’s Blog)
• U.S. AAA Credit Rating Affirmed by Fitch With Stable Outlook (Bloomberg)
• A Brief History of America’s Attitude Toward Taxes (HBR)
• US Home Builders Retreated On New Projects In August; Housing Starts, Construction Permits Decline (IB Times)
• Divide between homeowners and renters is growing (LA Times)
• Fed To Cut Bond Buying By $10B, Keep Interest Rates Near Zero For ‘Considerable Time’ (IB Times)

Americas

• Millionaires who don’t have any money face having to work to 70 (Financial Post)...the road we follow?…
• What are LNG prospects? Even optimists have reason to worry (Vancouver Sun)
• Economic growth: Two-speed Latin America (Euromoney)
• Citibank Loses Bid to Appeal Argentina Bond Payment Case (Bloomberg)
• Surprise jump in ‘core’ inflation may lead to Bank of Canada policy change (Financial Post)
• Brazil’s Economy Tumbles Into Recession For First Time In Five Years (IB Times)
• Market watchdogs breathe new life into debate over mutual fund fees in Canada (Financial Post)
• Latin America’s Minimum Wage Battles (IB Times)

Australia/New Zealand

•  Kiwi dollar is victim of fundamentals (FT.com)
• Public employment and other matters of scale (Bill Mitchell)
• Harbour Asset Management: New Zealand’s economy is unshakeable (World Finance)
• Fortescue’s Forrest Lauds China City Push as Iron Ore Slumps (Bloomberg)
• DORC rort: The art of getting energy infrastructure paid for twice (Fairfax)
• For Australia, Japanese submarine debate smooths history but riles industry (Nikkei Asian Review)
• Dover Heights home sells in one hour for $500,000 profit (Fairfax)
• Penske File exposed: Macquarie Group’s cheat sheet made public (Fairfax)
• Ken Henry says it’s time to bury the old Paul Keating economic narrative (Fairfax) …good read…
• Bega Cheese in $100m supply deal with China (Fairfax)
• China’s dirty coal ban causes waves (Fairfax)
• FREEDOM ABBOTT: The brief life and quiet death of Tony Abbott’s love of liberty (The Monthly)
• Australian dollar could fall to 73 US cents: analysts (ABC)
• Iron ore: Moody’s says impact of sliding prices being felt across economy (ABC)
• Train line planned for Avalon Airport, no timeline for construction (ABC)
• Terror raids: Perspective is always the hardest thing to find (Fairfax) …Hartcher is right, there is a lot of bullshido about the nature of any threat to us…

Commodities

• Iron ore sinks to fresh 5-year low (FT.com)
• Seaborne iron ore market takes tumble on absence of buying interest (Platts)
• The future for gold is physical (Mineweb)
• Copper Drops as Dollar’s Surge Erodes Commodity Demand (Bloomberg)
• Zinc price boom squeezes penny-pinching U.S. Mint (Mineweb)
• Mexico’s oil hedging deal exposed (FT.com)
• Cocoa market hit by Ebola fear factor (FT.com)
• Diamond traders go in search of higher margins as costs rise (SCMP)
• Purple carrots launched in supermarkets by 23-year-old twins (Telegraph)...man, I want to be at that party…

Capital

• Bond markets ‘join the dots’ on Fed rates (FT.com)
• Wall Street regulator unveils proposals for dark pools, bond markets (Reuters)
• Yellen fights a war against impatience (FT.com)
• Entry and exit in OTC derivatives markets (Vox)
• Concerns rise about intraday liquidity risk reporting as 2015 deadline looms (Euromoney)
• Alibaba surges 38 percent on massive demand in market debut (Reuters)
• Dollar Has Longest Win Streak Since 1967 on Divergence (Bloomberg)

Global Macro

• Pay pressure: Economists from across the political spectrum offer their ideas to jump-start wage growth (FT.com)
• 10 warning signs of global financial meltdown (Telegraph)
• Ebola Worst-Case Scenario Has More Than 500,000 Cases (Bloomberg)
• Piketty’s Missing Rentiers (Project-Syndicate)
• The System is Working (Project-Syndicate)
• Remaking the Money Market (Project-Syndicate)
•  U.S. Treasury’s Lew calls for euro zone, Japan to do more on growth (Reuters)
• Globalization Is in Retreat? Not So Fast (NY Times)
• The Triumph of Index Funds (Time)
• A Process for Human-Algorithm Decision Making (HBR)
• Digital banking: Big data, big headache (Euromoney)
• Ebola Outbreak 2014: Biggest Economic Losses Fueled By Fear, Experts Say (IB Times)
• What shipping can tell us about the global economy (Fortune)
• The lessons of student debt (Gillian Tett, FT.com)
• IMF warns of emerging markets slowdown (FT.com)
• Goldman admits cultivating ties with Gaddafi-era Libya fund (FT.com)

 …And Furthermore…

• How Sugar Daddies Are Financing College Education (The Atlantic)
• The Looming Death of Homo Economicus (Project-Syndicate)
• The People’s Corporations (Project-Syndicate)
• The new divide (Eurozine)
• Turkey opens border crossing for Syrians escaping ISIL (Turkish Review)
• Hundreds of Syrian Kurds fleeing Islamic State gather on Turkish border (Reuters)
• Artificial Sweeteners May Disrupt Body’s Blood Sugar Controls (NY Times)
• Errors and Emissions: Could Fighting Global Warming Be Cheap and Free? (NY Times)
• Conservatives teach their kids religion, liberals teach their kids to think of others (Quartz)
• Global Oceans Break All-Time Heat Record; World on Pace for Warmest Year Ever (Slate)
• The World Is Warming. So Why Is Antarctic Sea Ice Hitting Record Highs? (Slate)
• With $7,000 a month going to service debt, future bleak unless couple can stem the red ink (Financial Post)..the way of the future?…
• Financial Criminals Have Been Fined Billions, but They Rarely Pay (The Atlantic)
• Left and right agree on something at last: tipping is a management scam (LA Times)
• AI, Robotics, and the Future of Jobs (Piera)
• Climate Change Is an Opportunity to Dramatically Reinvent the Economy (The Atlantic)
• Human creativity will survive the relentless tide of technology (FT.com)
• The McDonald’s Cocaine Spoon Fiasco (Priceonomics)
• Astroturfing on Internet Forums (IdiotTax) …a couple of weeks old but well worth some contemplation…

Le dénouement

• The Evolution of Potty Training (Priceonomics)