Ocean Blue, Lorne, Arthur Streeton, 1921, Geelong Art Gallery
China
- China to Track Renminbi Based on Basket of Currencies – NY Times…another way to devalue…
- China crackdown nets ex-Ping An Securities chief – SCMP
- Is China’s Warren Buffett, Guo Guangchang, under arrest? Trading of stocks suspended as Fosun chairman ‘uncontactable’ – SCMP
- Guo Guangchang, ‘China’s Warren Buffett’, goes missing amid corruption crackdown – Guardian
- China Ghost Town Developer May Default on Bonds Next Week – Bloomberg
- Guo Guangchang: Fosun Group has ‘lost contact’ with chairman of China’s largest private firm – ABC
- China’s weakening renminbi poses stability threat – FT.com
- Regulators to Curb Stock Volatility with Circuit Breaker Mechanism – Caixin
- Disappearances in China Highlight Ruling Party Detention System – Bloomberg...it does seem a lot of powerful people are being pulled in or going missing…
- China anti-counterfeiting agents make many of the fakes themselves – report – Guardian
- Privacy, Internet Issues Cloud Credit Scoring – Caixin
- Tax cut buoys sales but market concerns persist – Nikkei Asian Review
- Cooking the books: Government officials in China’s ‘rust belt’ falsified economic figures – SCMP
- Head of Agricultural Bank of China Steps Down Amid Corruption Probe – Caixin
- Executives of Murky Internet Finance Start-up Arrested – Caixin
- Macau could face crackdown as Beijing gets tough on abuse of China UnionPay system – SCMP
- PetroChina plans US$47 billion gas pipeline sale as part of Beijing’s energy sector reforms – SCMP
- Regulators Ready to Defog P2P Lending Sector – Caixin
- Rail Cargo Services Continue to Lose Steam – Caixin
- Mao Zedong money raises eyebrows: rare error means Chinese leader has two left eyebrows on 100-yuan banknote – SCMP...what a classic…
- Gaming the system: China steel exporters look for tax advantage – Reuters
- “Let’s Just Hope Shipping Isn’t Telling the Real Story of China” – Zero Hedge
- Is everything going wrong for China? – Prospect, Magnus
- China Needs Layoffs, Not Just Jobs – Bloomberg
- China’s top bankers who “disappeared,” were detained, or died unnaturally this year – Quartz
- Monetary easing seen by year end – China Daily
- A Divergence that Gives China a Headache – Marc to Market
- Why China’s Reserves Fell $87.2 bln in November – Marc to Market
- Will bubble finally burst in 2016? – Nikkei Asian Review
- China Swallows Its Mine Debt Bomb – Bloomberg
Asia
- Mongolia’s ‘next chapter’ is infrastructure – Nikkei Asian Review
- Fridge designed for India’s rural poor is really cool – SCMP
- Place your bets: Singapore, Malaysia casinos more attractive than Macau, analysts say – SCMP
- Dip in long-term price outlook could shake BOJ policy – Nikkei Asian Review
- Clouds gather over Turkish economic outlook – Intellinews
- India cautious on offshore rupee growth – Euromoney
- India close to $15B high-speed rail deal with Japan – CNBC
- Middle East liquidity crunch starts to bite – Euromoney
- Gulf Arab Leaders Push For EU-Style ‘Middle East Union’ At GCC Summit – IB Times…could be interesting…
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Europe
- Renzi faces political backlash over Italian banks’ rescue – FT.com
- Sanctions over jet downing hit Turkish economy – Nikkei Asian Review
- Foreign Investors Tiptoe Through Minefield of Greek Banking System – NY Times
- Bank consolidation: Europe’s missing link – Euromoney
- Swiss National Bank keeps its powder dry – FT.com
- Italy Needs a Cure for Its Bad-Debt Headache – Bloomberg
- Italian institutional reforms: will this time be different? – Bruegel
- The remarkable case of Spanish immigration – Bruegel
- German retirement system leads to pensioner poverty – DW
- Germany to close pay gap with transparent wage structures – DW
- Russia is so fed-up with Western credit rating agencies, it has launched its own – Telegraph
- France is heading for a wheat overload – Reuters
- Only scapegoats seen found for billion-dollar bank frauds in Ukraine and Moldova – Intellinews
United Kingdom
- A radical solution for England’s housing crisis – FT.com, Wolf
- Groundhog Day for UK economy with wearyingly familiar trade figures – Guardian
- Oil price slump will mean Bank of England keeps interest rates low for longer – Telegraph
- UK’s trade deficit in goods with EU hits record high – Telegraph
- Plastic fantastic: debit card spending soars in Britain – Guardian
- Tobacco companies challenge legality of UK plain packaging rules – Guardian
- 750,000 families with children ‘struggling with serious debt’ – Guardian…and when rates rise?…
- Recently retired households have greater share of UK wealth than under-45s – Guardian
- Some unpleasant Brexit econometrics – VoxEU
- WHAT KIND OF RECOVERY IS THIS, MR OSBORNE? – Pieria
- Christine Lagarde warns Brexit vote could trigger economic uncertainty – Telegraph
United States
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- Federal Reserve rate call: five questions – FT.com
- Mortgage rates move higher following upbeat jobs report – Washington Post
- Compromise Bill Would Give President More Muscle Against Unfair Trade Practices – NY Times
- Economic Growth Migrates Toward the Coasts – WSJ
- Look Who’s Spending Less: Higher-Earning, Older Americans – WSJ
- Middle-class families, pillar of the American dream, are no longer in the majority, study finds – LA Times
- Why you should cheer a Federal Reserve rate hike – Market Watch
- US import prices extend decline on cheaper oil – CNBC
- Zombies appear in U.S. oilfields as crude plumbs new lows – Reuters
- What comparing single family vs. multi-unit housing tells us about the economy – XE.com
- The Future’s so Bright … – Calculated Risk
- Calpers Can’t Eliminate Risk by Ignoring It – Bloomberg
- Interest rates in America: Buckle up – Economist
- Most Americans Aren’t Middle Class Anymore – FiveThirtyEight
- U.S. to Stand Out Amid Limited Global Growth in 2016: Merrill Lynch – Think Advisor
- EB-5 Immigrant Investor Visa Could Face Big Changes If Lawmakers Have Their Way – IB Times
Americas
- Free rent for a month? Calgary, Edmonton landlords try to woo renters as prices fall – Financial Post
- A New Day in Colombia – Economonitor
- Farming Flourishes Amid Brazil’s Fiscal Mess – Agweb
- Argentine banks prepare for new Macri era – Euromoney
- Argentina’s Long, Long History of Underperformance – Bloomberg
- Canada tightens mortgage rules to help cool blistering Toronto, Vancouver housing markets – Financial Post
- New mortgage rules to hit Calgary hard, economist says – Financial Post
- OSFI takes aim at banks’ residential mortgage capital requirements to keep pace with rising house prices, household debt – Financial Post
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Terra Numberwangus
- Leaders sound alarm on budget as economists predict billions wiped from revenue – Fairfax…everybody brace, this is going to hurt…
- Why it is time for a ‘no BS’ pledge when it comes to MYEFO forecasts – The Conversation…but bullshit is what we will get…
- Australia’s Budget Seen Deteriorating as Growth Disappoints – Bloomberg, Heath
- Australia’s innovation problem explained in 10 charts – The Conversation…and still they overlook house prices…
- Kidman sell-off: Anna Creek off the market for foreign buyers amid national security concerns – ABC
- Victorian house prices: how much has yours grown? – Fairfax
- Urban jungle: radical ways to improve our city life – Fairfax
- Malcolm Turnbull’s former employer Goldman Sachs tips early election – Fairfax
- What would make a GST increase ‘fair’? – The Conversation
- Turnbull’s ‘ideas boom’ overlooks our largest group of potential entrepreneurs – The Conversation
- Why Turnbull’s ‘Ideas Boom’ will not bridge the gap between research and business – The Conversation
- Goldman Says Australia Faces Tougher Growth Challenge in 2016 – Bloomberg, Heath
- What Malcolm Turnbull can learn from Justin Trudeau’s spending plans – The Conversation
- Simple, fair and efficient: four ways to make our tax system work the way it is supposed to – The Conversation
- Differences with states on tax reform could be ‘irreconcilable’: Morrison – The Conversation
- Confusion reigns in options for Australia’s misuse of market power laws – The Conversation
- Australian software company Atlassian soars 32% on US$5.8bn Nasdaq float – Guardian
- Chinese buyers ready to return – NZ Herald
- Now’s the time to fix your home-loan rate, says expert – NZ Herald
- Baby boomers ill-prepared for retirement – NZ Herald
- Basel 4 plan to free up capital for regional banks – Fairfax
- Glencore may shut Murrin Murrin nickel mine in WA – Fairfax
- Jobs boom is a Sydney story – Fairfax, Pascoemeter
- Cattle King’s Ranch Down Under to Be Carved Up for Overseas Sale – Bloomberg
- Oh The Environments! – Idiot Tax…another fine read from the idiot…
- Defence procurement and the new submarine – Pearls & Irritations, Stanford…very perceptive read…
- Tax Reform and Future Federal-State Relations – Pearls & Irritations, Keating… excellent analysis…
- The policy scandal of a $11b taxpayer subsidy to private health insurance. – Pearls & Irritations, Menadue…he is 100% correct – private health insurance in Australia is a joke…
- Youth unemployment is not a problem to be fixed with labour flexibility – Guardian, Jericho
- Chevron sheds 1,000 Barrow Island jobs ahead of schedule – ABC
- Iron ore sheds 4.3pc on week, ending at record low – Fairfax…and our major exports are, iron ore, coal, gas and gold (for those wondering)….
Commodities
- US oil settles at $35.62 a barrel, plunges over 10% for week – CNBC ...we are here, before Christmas…
- Oil producers offset fall in prices by raising output – Reuters, John Kemp…very good read…
- IEA Sees Oil Glut Lasting to Late 2016 as OPEC Keeps Pumping – Bloomberg
- Woodside gives green light to $2 billion North West Shelf gas development – ABC
- OPEC points to larger 2016 oil surplus as group’s output hits multi-year high – Reuters
- How much oil is OPEC pumping? 900,000 barrels a day more than the world needs – Financial Post
- Strippers Suffering From Low Oil Prices – Economonitor
- Ignore the Fed when it comes to gold – Market Watch
- Iron Ore in Worst Run Since ’08 as China’s Steel Output May Drop – Bloomberg
- ‘Unrelenting’ supply hits oil demand growth: IEA – CNBC
- OPEC predicts rivals’ supply to contract in 2016 – CNBC
- Global sugar supply tightens as Brazil cash discounts shrink – Reuters
- Diamonds are forever; is Anglo American? – Reuters
- Gas prices finally break below last winter’s low – Bonddad
- Don’t let China iron buying fool you, demand is bad – Xie – Mineweb
- Copper imports by China jump to 22-month high in November – Mineweb
- Paris Climate Talks 2015: Dark Days Ahead For The Coal Sector As Nations Close In On A Deal – IB Times
- Oil’s Flabby New Year – Bloomberg
- Chop Chop For Commodities – Bloomberg…ugly…
Capital markets
- High-Yield Fund Blocks Investor Withdrawals – NY Times
- Should the Fed Subsidize Banks? – Peterson Institute
- Leading banks to introduce faster international money transfers – Nikkei Asian Review
- Small fish, big prize: The market makers out to eat the banks’ lunch – Euromoney
- US treasuries: HFTs – to USTs and beyond? – Euromoney
- Banking: Providing liquidity to liquidity providers – Euromoney
- Why a gold and oil crash won’t scare prudent retirement investors – Market Watch
- China yuan falls to lowest since August 2011 versus dollar – CNBC
- Bank capital zealots hang up their hairshirts – Reuters
- SEC Chases ETF Boogeyman: Geared Funds – ETF.com
- Currency Traders’ Bad Year Gets Worse as Central Banks Surprise – Bloomberg
- All Developed Bond Markets Gain in 2015 in Face of Fed Rate Move – Bloomberg
Global Macro
- Today’s Productivity Paradox – Project-Syndicate, Eichengreen…very good read…
- The Fed’s Painted Itself Into The Most Dangerous Corner In History – Why There Will Soon Be A Riot In The Casino – Zero Hedge…worth bearing in mind…
- Oil Price Meltdown Heralds New Wave of Destabilization – Economonitor
- Fed to guide on rate hike path with fresh language, forecasts – Reuters
- Jacques Attali warns of corporate debt bomb, possible WWIII – Nikkei Asian Review
- Global regulators join crackdown on buy-to-let – Telegraph…and Australia?…
- Rand-exposed stocks rocked by ousting of South African finance minister – Telegraph…another major commodity exporter with political instability…
- Nagorno-Karabakh says Azerbaijan using tanks to shell them for first time in 21 years – Intellinews…this is looking increasingly ugly….
- Glencore shares surge as investors cheer debt-cutting plan – Telegraph
- Glencore’s Ivan Glasenberg eyes China rebound, but slashes debt just in case – Telegraph, AEP
- The WTO’s Nairobi talks and the multi-billion dollar trade agreement you’ve never heard of – The Conversation
- Don’t mourn the death of the commodities “super-cycle” – Telegraph
- Schengen and European Security – Project-Syndicate
- Islamic State oil is going to Assad, some to Turkey, U.S. official says – CNBC
- The curious case of ISIS oil moving through Turkey – Market Watch
- Brazil, Russia currency weakness claims an unlikely victim – CNBC
- More jobs by the day—but why? – Prospect, Kaletsky
- World employment and social outlook 2015. The changing nature of jobs – RWER
- Aircraft orders slow as cycle peaks; potential for production impact seen – Reuters
- Designing fiscal policy for steady, enduring growth – VoxEU
- International macroeconomic policy coordination – VoxEU
- Grantham: 12 Economic Facts to Ruin Investors’ 2016 – Think Advisor…yuck…
- Global Macro, Breadth & Energy Sector – ShortSideofLong
- DRY BULK ATLANTIC: PANAMAX OWNERS CONSIDER LAY-UPS ON WEAK 2016 OUTLOOK – Platts
…and furthermore…
- VW Says Emissions Cheating Was Not a One-Time Error – NY Times
- Sewage sludge to go up for sale and could help power your home – Telegraph
- He Blew the Whistle at JPMorgan Chase, Then Came the Blowback – NY Times
- A Middle Ground Between Contract Worker and Employee – NY Times
- A Learning Advance in Artificial Intelligence Rivals Human Abilities – NY Times
- This Houston energy company is giving every one of its 1,400 employees a US$100,000 bonus – Financial Post
- Ford to spend $4.5bn on electric car range – FT.com
- When Inequality Kills – Project-Syndicate, Stiglitz
- The Evolution of Work – Project-Syndicate
- End of the road draws near for Land Rover Defender – Guardian
- Blatter to ‘abandon football’ when term ends – Nikkei Asian Review...should he be allowed to go in his terms?…
- Watlington hoard of Viking silver casts light on Alfred the Great era – Guardian
- A day at ‘the gulag’: what it’s like to work at Sports Direct’s warehouse – Guardian
- Champagne Taittinger to produce English sparkling wine in Kent – Guardian
- ‘Fail early, fail often’ mantra forgets entrepreneurs fail to learn – The Conversation
- Can Cyber Warfare Be Deterred? – Project-Syndicate
- Hunt for mysterious Bitcoin founder focuses on Australia man – CBS
- Is college worth it? Goldman Sachs says maybe not – CBS
- Truck drivers must now log their hours electronically – CBS...good…
- Wages, profits, and inequality – RWER
- The blatant absence of empirical fit of macroeconomic models – RWER…there is some bull in some economic models that’s for sure…
- News Corp. Won’t Face Corporate Charges in Phone-Hacking Probe – Bloomberg…a disgrace…
- The Bitcoin Founder Can Apparently Run, and Hide – Bloomberg
- The World’s Smartest Bad Investors – Bloomberg...good read…
- When Can Bond Traders Lie to Their Customers? – Bloomberg.…I thought it was always?…
- The choice of numeraire matters when calculating world GDP growth – VoxEU
- Highly educated women no longer have fewer kids – VoxEU
- Economists: Buckle Up, Climate Change Is Going to Be a Rough Ride – Slate
- Exploding hoverboards expose the total lack of global manufacturing standards – Quartz
- The 21st-century gold rush where people work in 19th-century conditions – Quartz
- Could Morocco’s megaplant revive dreams of Saharan solar? – DW
- Low wages draw international textile companies to Ethiopia – DW
- Better Schools, Better Economies – The Atlantic
- When Will Labor Laws Catch Up With the Gig Economy? – The Atlantic…good question…
- Magazine claims Australian entrepreneur is man behind bitcoin – Japan Times
- The global economic costs from climate change may be worse than expected – Brookings
- For Immigrants, America Is Still More Welcoming Than Europe – NY Times