Eugene von Guerard, Bushfire, 1859, Art Gallery of Ballarat
Merry Christmas all,
Gunna
China
- With new Silk Road, Xi seeks to have all roads lead to Beijing – Nikkei Asian Review
- China growth seen slowing to 6.4% in 2016 – Nikkei Asian Review
- Beijing’s policies create gap between perception, reality – Nikkei Asian Review
- China to cut on-grid tariffs for solar, wind power: state planner – Reuters
- Chinese funds take cautious bets on short-term metals price rise – Reuters
- Three Chinese state-owned banks using lie detectors and customers don’t know it – SCMP…good idea & let’s get the customers using it on banks too…
- Battle over developer China Vanke takes dramatic turn as top insurer throws support behind beleaguered company management – SCMP
- Manufacturing Employment in China – Peterson Institute
- Company Behind Collapsed Landfill ‘Transferred Operations’ – Caixin
- Confidence in China’s economy falling: PBOC survey – Market Watch
- China business, bankers confidence dips in Q4: C. bank survey – CNBC
- Man Who Called China’s Boom and Bust Now Warns of Crisis Risks – Bloomberg
- China’s Year of Maybe-Real 7% Growth – Bloomberg
- China’s cross-border e-commerce boom is a boon for small retailers abroad – CER
- Crackdown on corruption causes tremors – Irish Times
- Retirement Worries – Caixin
- Monthly data detail China’s often soft-handed anti-corruption campaign – CER…worth a look…
- The Tax That Can Make China’s Cities Safer – Bloomberg
- A banner year: Financial scams in China nabbed at least $24 billion in 2015 – Quartz
- The great graying of China: Why the new two-child policy is too little, too late – Quartz
Asia
- Singapore Consumer Prices Decline for Longest Streak Since 1987 – Bloomberg
- The Kingdom Beyond Oil – Project-Syndicate
- Sri Lanka’s delicate dance with China – CNBC
- Bank of Japan Still Has Room to Maintain Easing, Suga Says – Bloomberg
- Japan court rules to restart Takahama nuclear reactors – BBC
- How TPP will change the Japanese economy – VoxEU
- Indebted ASEAN companies will feel Fed’s rate rise – Bruegel
- The rise of the sharing economy in Indonesia – Bruegel
- China and Singapore are Distant Relatives at Best – The Globalist
Europe
Advertisement
- The ECB, the Single Financial Market, and a Revision of the Euro Area Fiscal Rules – Levy Institute…immense piece of work…
- Switzerland to vote on banning banks from creating money – Telegraph...good…
- Non-performing loans in Italy and selected European countries – Bruegel
- Finland and asymmetric shocks – Bruegel
- When will the EU switch away from coal? – Bruegel
- Ceci n’est pas une ‘job guarantee’ – RWER
- Country on the verge of an economic breakdown – RWER
- Italy’s productivity challenge – VoxEU
- PODEMOS AND THE ECONOMICS OF ANTI-AUSTERITY – Pieria
- Europe’s Fake Recovery – Economonitor
- Russian energy sector struggles as U.S. and Europe tighten sanctions – Washington Post
- German bank identifies $10bn in suspect Russian trades – Irish Independent
- Finland should exit the euro – Bill Mitchell
- Ireland demonstrates that fiscal deficits promote growth – Bill Mitchell
- Spanish voters kicked the bums out – Economist
- The growing intergenerational divide in Europe – Bruegel
- Russian ex-tycoon Khodorkovsky may seek UK asylum – BBC…far safer than Europe…
- Germany Is Right to Flout Russia Sanctions – Bloomberg
- Get Ahead in Russia? Lie About Your Education – Bloomberg
- Migrants Find an Edge in Germany’s Economy Through Language – NY Times
- Portugal to Rescue Banco Internacional do Funchal – NY Times
United Kingdom
- More pain for George Osborne as ONS cuts UK economic growth – Guardian
- Why Liberty sees a future for the steel industry in Britain – Guardian
- High street Christmas shopping figures make grim reading for retailers – Guardian
- George Osborne’s economic year ends with a bump – Guardian
- Economy concerns as household debt rises to £40bn in latest figures – Guardian
- UK economy in shock slowdown as recovery loses steam – Telegraph
- SCOTTISH ‘DEBT MOUNTAIN’ IS A MOLEHILL – Pieria
- Five large banks paid no corporation tax in 2014, analysis shows – BBC
- UK unsecured borrowing rising at fastest since 2007 – Guardian
- UK. Consumer Borrowing Rises at Fastest Pace Since Early 2007 – Bloomberg
United States
Advertisement
- Capital Goods Orders Fall, but Consumer Data Points Are Encouraging – NY Times
- What ‘The Big Short’ Gets Right, and Wrong, About the Housing Bubble – NY Times
- ‘The Big Short,’ Housing Bubbles and Retold Lies – NY Times, Krugman
- U.S. manufacturing struggles; rising income brightens outlook – Reuters
- The Fed’s mistakes are a cause for pessimism – Washington Post, Summers
- A Reasonable Rate Hike for Now – Peterson Institute
- Third-quarter economic growth revised down slightly to 2% amid another tepid year of recovery – LA Times
- US. home sales tank in November – LA Times
- Where There’s Distress in the U.S. Economy – WSJ
- Real disposable personal income growth: not too shabby – Bonddad…interesting…
- ‘The Six Major Adverse Shocks that Have Hit the U.S. Macroeconomy since 2005’ – Economistsview, Delong…worth a look…
- New Home Sales increased to 490,000 Annual Rate in November – Calculated Risk
- Will the U.S. economy slip into recession in 2016? – CBS
- U.S. economy ending year with a whimper – CBS
- Mobile shopping up, but U.S. lags other parts of the globe – CBS
- Most Americans have less than $1,000 in savings – Market Watch
- Manhattan Luxury-Home Prices in a Slide, Defying Broader Market – Bloomberg
- “Unstoppable” California Gas Leak Now Being Called Worst Catastrophe Since BP Spill – Zero Hedge
- There was no reason for the US to raise interest rates – Bill Mitchell
- The U.S. Fed and the Seven-Year Itch – The Globalist
- Which Housing Markets Have the Most to Worry About – WSJ
- The Decline of Labor, the Increase of Inequality – TalkingPointsMemo…worth a look…
- The Pervasive Fear of Affordable Housing in New Jersey – The Atlantic
- Weekly Initial Unemployment Claims decrease to 267,000 – Calculated Risk
- US banks hit by cheap oil as Opec warns of long-term low – CNBC
- US. retailers at risk of missing modest holiday sales goals – Reuters
- US. jobless claims near 42-year low as labor market tightens – Reuters
- US. freight stalls as firms try to cut unwanted stocks – Reuters, John Kemp
- Consumer Comfort in U.S. Rises to Highest in Almost Two Months – Bloomberg
- These Malls Didn’t Get the Memo They’re Dying – Bloomberg…excellent analysis on US retail malls…
Americas
- The oil crash is taking a heavy toll on Alberta and the worst is yet to come – Financial Post
- Canada faces future of ‘stranded assets’ in Trudeau’s low-carbon policy pursuit – Financial Post
- So much for Canada’s recovery: Economy delivers ‘tough pill’ as growth prospects fade into the distance – Financial Post
- Brazil dam disaster: judge freezes assets of miners BHP and Vale – Guardian
- Argentina’s Economic Big Bang – Project-Syndicate, El-Erian
- Negative Interest Rates for Canada? – Sober Look
- Dilma’s Gamble for Resurrection – Peterson Institute
- This Is Canada’s Depression: Surging Crime, Soaring Suicides, Overwhelmed Food Banks “And The Worst Is Yet To Come” – Zero Hedge
Terra Nullus
- Was the housing boom in Sydney and Melbourne driven by foreign buyers? – The Conversation
- It’s the revenue, stupid (with no apologies to Scott Morrison) – Guardian, Jericho
- Australia, your middle-age bulge is officially a worry – Guardian, Jericho
- Chevron slashes 1,200 jobs from Gorgon LNG project in Western Australia – Guardian
- Another Real Estate Parasite Eating the Host – Idiot Tax…another fine read from the Idiot…
- Coalminers call for inquiry after return of black lung disease in Queensland – Guardian
- Black lung: Queensland underground coal mines warned to reduce dust levels below safety standards – ABC
- Developer of $20 million Australian-first solar thermal pilot plant predicts sunny future under Turnbull – ABC
- Atlas Iron ratings downgrade after ‘de-facto default’ share issue to creditors – ABC
- Petrol price info live for motorists under deal between ACCC, retailers and Informed Sources – ABC
- NAB anxiety index: jobs secure but cost of living makes us anxious – Fairfax
- Turnbull’s Luck: Jobless Down, Growth Up as Election Year Begins – Bloomberg
- Australia’s status quo depends on China’s policy, FTAs finalised – IB Times
- So now we know which companies did not pay tax; time to target aggressive avoidance – The Conversation
- Budget update brings deficit blowout and hits to health and aged care – The Conversation
- If you want to crack down on tax avoidance, go after the banks – The Conversation…and if you want to go after the banks let them compete for government support on borrowing costs…
- Mortgage arrears hit decade low: Fitch Ratings – ABC
- Rising Aluminum Prices Bring Cheer To Australian Miners, Outlook Predicted To Improve – IB Times
Advertisement
Commodities
- Opec says demand for oil will fall, but prices will rise – eventually – Telegraph
- Obama’s foreign policy goals get a boost from plunging oil prices – Washington Post
- OPEC’s market share to shrink by 2020 as rivals keep pumping despite oil’s collapse – Reuters
- Low oil price dragging down gas price but future outlook more positive – ABC
- Opec faces a mortal threat from electric cars – Telegraph, AEP
- Five reasons mining companies are in a hole – Telegraph
- Shell plans big cost cuts on BG merger – Telegraph
- The price drop that’s really worrying big oil – Fairfax, Pascoemeter
- Why Big Oil Should Kill Itself – Project-Syndicate, Kaletsky
- 3 reasons U.S. oil is trading at premium to global benchmark – Market Watch
- OPEC Sees Demand for Its Crude Oil Falling for Rest of Decade – Bloomberg
- Get Used to China Steel as Macquarie Sees It Getting Cheaper – Blomberg
- Iron Ore Wars – Bloomberg
- Cheap Oil’s Great, Except When It Isn’t – Bloomberg
- US Restarts Production Of Plutonium-238 After Nearly 3 Decades To Power Deep Space Missions – IB Times
- Extreme bears are betting oil is going as low as $25, $20 and even $15 a barrel in 2016 – Financial Post
- Top iron ore shipper cuts 2016 forecast by 19% – Mineweb
- Why it’s so hard to put a price on the world’s biggest diamonds – Mineweb
- The rise of lithium – Mineweb
- The Natural Gas Trading Play – Market oracle
- Seven (possibly) magnificent commodity bets for 2016 – Reuters, Clyde Russell…worth a look…
- China and the search for a new metals narrative – Reuters, Andy Home…good…
- Home for the Holidays? Hold the sugar, please – Reuters
Capital markets
- A Basket Case? The Future of the Renminbi Exchange Rate Regime: Part 1 and A Basket Case? The Future of the Renminbi Exchange Rate Regime: Part 2 – Peterson Institute
- Time to Fed-proof investments for 2016 – SCMP
- Stepped-up REIT purchases may cause side effect – Nikkei Asian Review
- Whither Emerging Markets Foreign Exchange Reserves – Economonitor
- Watch the Fed’s RRP facility uptake jump at year-end – Sober Look
- Investors Pull Out of Mutual Funds at the Fastest Rate in Two Years – Bloomberg
- ECB Reverse Auctions to Add Competition in Extended QE Program – Bloomberg
- JPMorgan Says Japan Inc. Must Prepare for Yen Below 100 a Dollar – Bloomberg
- Gas prices and the US$ as short leading indicators – Bonddad
- Exchange rate devaluations: When they can work and why – VoxEU
- S. Interest Rates Yield Curve Flattening Further, Why it Matters – Market Oracle
- What Little Difference a Year Makes in the U.S. Treasury Market – Bloomberg
- ECB Reverse Auctions to Add Competition in Extended QE Program – Bloomberg
- A Bear Market in the Shadows – Bloomberg
- Experts Really Got the Pound Wrong in 2015 – Bloomberg
Global Macro
Advertisement
- In a world without an engine, where will the growth come from? – Nikkei Asian Review
- THE ECONOMIC CONSEQUENCES OF THE RATE HIKE – Pieria
- Changing global order is becoming more uncertain – Nikkei Asian Review
- Aging and the interest rate – Nikkei Asian Review
- Awash with oil as Saudis aim to take the fight to the frackers – Guardian
- Unconverted: Contrarian economist unswayed by Fed’s liftoff – Reuters
- The Perils of Fed Gradualism – Project-Syndicate, Roach
- The Political Consequences of Financial Crises – Project-Syndicate
- Systematic Sustainability Is the Goal of New Fair-Trade Initiative – Economonitor
- Against the tide: The Fed versus the ECB – Euromoney
- Why Trade and the Environment Need Each Other – Caixin…worth asking: how much trade is environmental management leveraging?…
- Premium Property – Bloomberg
- Emerging economies and WTO tariff liberalisation after Doha – VoxEU
- Geopolitical Disorder in a G-Zero World – Enterprising Investor
- Policy Research Note No.4: Slowdown in Emerging Markets: Rough Patch or Prolonged Weakness? – World Bank
- The Fed has put up rates—when will the Bank of England follow? – Prospect
…and furthermore…
- An Aging Society Changes the Story on Poverty for Retirees – NY Times
- In the Dirtiest Cities, Air Pollution Forces Life Changes – NY Times
- Three Reasons for Those Hefty College Tuition Bills – NY Times
- China invents way to use a bra to charge a smartphone – SCMP
- Zimbabwe to make Chinese yuan legal currency after Beijing cancels debts – Guardian
- U.S. imposes Ukraine-related sanctions on 34 individuals, entities – Reuters
- Archaeologists believe Thames gold hoard may have come from Tudor hat – Telegraph
- What should I tell my kids about Santa? – ABC…just tell ‘em it’s a capitalist conspiracy to load the proletariat with debt…
- #Genderpricing: Consumers call out retailers after study finds women’s products cost more than men’s – ABC
- Why the world’s biggest brewers have the wrong strategy – Financial Post
- Saudi Arabia’s Phony War on Terror – Project-Syndicate
- Redistribution in the Age of Austerity – Levy Institute
- Nature’s Warning Signal – The Atlantic
- The long-run effects of the ‘Scramble for Africa’ – VoxEU
- The Social Roots of Political Realignment in the West – Caixin
- CEO pay still out of control and diverging again from workers’ earnings – Bill Mitchell
- The most misleading charts of 2015, fixed – Quartz
- The Compressed Tech Life Cycle: The Investor Challenge – Musings on Markets…good read…
- Electroejaculation Is an Undignified but Efficient Way to Save Endangered Species – Slate
- Climate Change: A Global Push to Save the Planet – Bloomberg
- A History of Slavery That ‘Has Never Been Told’ – Bloomberg
- Philanthropy: How to give away $1B – CNBC
- All older people should keep a ‘death book’ – Market Watch
- Private car ownership is on the road to becoming a rarity – Market Watch
- Study: Boosting pay doesn’t kill restaurant jobs – CBS
- Gender price gouging? How products aimed at females cost more – CBS
- When Does Bargaining Become Fraud? – Bloomberg…right at the start…
- Is it OK to have kids? – Aeon
- Burke was no conservative – Aeon
- The cold fusion horizon – Aeon
- The Education Antidote to Radicalization – Project-Syndicate, Gordon Brown…but education makes people think more about social phenomena like justice and cause and effect…
…and some listening…
The Christmas Report 2015 podcast – David Llewellyn-Smith and Leith van Onselen chatting the economy with yours truly last week (The same one was behind paywall earlier in the week).
Mpeg
Advertisement
Pt 1
Pt 2
Ogg
Pt 1
Pt 2
![endif]-->