Australian Home, 1993, Howard Arkley, Hamilton Art Gallery
Happy New Year to All
…the MacroBusiness Cup is on the way…
China
- China Investment Corp retreats from Canada after mining, energy investments sour – Financial Post
- Fortune Lost: The short, brutal and costly ride of China Investment Corp. in Canada – Financial Post
- China suspends some yuan deals by foreign banks – Nikkei Asian Review
- 5 policy risks to watch in China after a year of living dangerously – Financial Post
- Ex-premier Li Peng’s daughter Li Xiaolin quits top power job – SCMP
- Good for buyers, bad for developers? Hong Kong property prices cooling amid ‘oversupply’ – SCMP
- Managing China’s economy becomes ever more difficult – Fairfax
- China Telecom shares fall after chairman held in corruption crackdown – Guardian…this is happening to an awful lot of people, it seems…
- Property scare: Hong Kong conglomerate speeds up China asset sales as outlook darkens – SCMP
- China firm loses 5 years of financial documents as truck stolen – Business Times
- Should Hong Kong let go of its peg to the US dollar now? – SCMP
- Hong Kong battles to keep peg with US dollar going in 2016 – SCMP
- Another shipping conglomerate born as Beijing approves merger of Sinotrans and China Merchants – SCMP
- China to Halt New Coal Mine Approvals Amid Pollution Fight – Bloomberg
- China eyes huge deficit to cushion reforms, slowing growth – Japan Times
- China’s Yuan Still Faces a Long Road to Global Prominence – Bloomberg
- PBOC Doesn’t Offer Reverse Repos for First Time in Six Months – Bloomberg
- China Fires a Warning Shot at Yuan Speculators With Bank Bans – Bloomberg
- Chinese Renminbi, U.S. Dollar and ‘Hot Money’ Outflows – Economonitor
- How a Beijing Traffic Cop Lined His Pockets – Caixin
- Bankers Behind ‘Belt and Road’ Business Surge – Caixin
- China faces even more painful choices in 2016 – Market Watch
- Monthly data detail China’s often soft-handed anti-corruption campaign – CER
- Xi leads shift from Keynesianism to ‘supply-side’ economics – China Daily
Asia
- Integration set to accelerate Southeast Asian growth – Nikkei Asian Review
- JAXA project aims for quieter supersonic passenger jets – Nikkei Asian Review
- Japan Inc. putting money in the bank at record clip – Nikkei Asian Review
- Thailand keeps inflation target of 1-4 pct range next year – Nikkei Asian Review
- A Chinese Company in India, Stumbling Over a Culture – NY Times
- Sri Lanka Raises Banks’ Reserve Ratio to Keep Inflation in Check – Bloomberg
- Economy tipped for gradual recovery in 2016 following year of sluggish growth – Japan Times
- The TAPI Pipeline and Paths to Peace in Afghanistan – New Yorker
- Saudi rulers weigh political cost of tough economic reforms – Reuters
- Indebted ASEAN companies will feel Fed’s rate rise – Bruegel
- Saudi Arabia’s economic time bomb – Brookings
Europe
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- Experts help divided Cyprus figure out economics of peace – AP
- Portugal imposes almost €2bn in losses on Novo bondholders – Irish Times
- Wall Street investment banks squeezed out in Russia – BNE
- Fallout for Europe may be greater if Britain stays in the EU – Reuters
- Corruption in Ukraine is so bad, a Nigerian prince would be embarrassed – Reuters
- The EU Proves It’s Here to Stay – Bloomberg
- Russia Expands Sanctions Against Turkey After Downing of Jet – NY Times
- Can 2016 be a turnaround year for the Russian economy? – BNE
United Kingdom
- House price growth jumps to eight-month high – Telegraph
- UK house prices: 4.5% rise in 2015 sparks calls for policy intervention – Guardian
- Revealed: housebuilders sitting on 600,000 plots of land – Guardian…and in Australia?…
- FCA will not publish key report into Britain’s banking culture – Telegraph…who are they trying to avoid upsetting?…
- 2015: A FAILING FISCAL POLICY – Pieria
United States
- “American Capitalism” No Longer Serves Society – Zero hedge
- Shipping giants feel the strain of inclement weather and a crush of last-minute holiday orders – Washington Post
- Really rich people are suddenly paying quite a bit more in taxes – Washington Post
- For the Wealthiest, a Private Tax System That Saves Them Billions – NY Times…and how different in Australia?superb read…
- The Wheels Just Fell Off: US Trucking Has Not Been This Bad Since The Financial Crisis – Zero Hedge
- U.S. pending home sales fall in November – Reuters
- An Aging America Shies Away From Risk – Bloomberg
- U.S. home prices climb in October, helped by solid job market – LA Times
- Home Ownership: Millennials Could Jump Into The Housing Market In 2016 – IB Times
- Hard Times In ‘Boomtown, USA’: The Rise And Fall Of Oil In Williston, North Dakota – IB Times
- The Rise Of The Temp Economy: More U.S. Employers Than Ever Want A “Disposable Workforce” – Zero Hedge
- Housing wrap up for 2015 – XE.com (Bonddad)
- Do the Underpants Recession Gnomes have a case after all? – Bonddad
- Unhappy New Year: The U.S. Economy Is Stalling Out – Fiscal Times
- Should governments give away more money? – Prospect
- The year when politics will trump economics – Prospect, Magnus
- 2016: Big ETF Predictions – ETF.com
- Ten Economic Questions for 2016 – Calculated Risk
- Five graphs for 2015: final update – Bonddad…good charts…
- Canary or canard? The suspension of several speculative bond funds carries only faint echoes of the onset of the credit crunch – Economist
- Politics will largely determine whether emerging market growth – and asset prices – recover in 2016 P&I
- 3 Numbers the Fed (and Investors) Should Watch in 2016 – Think Advisor
- By 2050, There Could Be as Many as 25 Million Poor Elderly Americans – The Atlantic
Americas
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- Why a world in turmoil is still parking its cash in Canada — lots of cash – Financial Post…and just imagine how much it is still parking in Australia…
- Puerto Rico to skip US$37 million of debt payments, its second default this year – Financial Post
- Equity before affordability: Justin Trudeau’s vacuous response to Vancouver’s housing crisis – SCMP…very good read, essentially covers the same ground the ALP sees housing affordability in Australia from…
- Argentina declares ‘national statistical emergency’ – Business Times
- Puerto Rico’s Debt Trap – Project-Syndicate, Johnson
- Puerto Rico avoids loan default by dipping into cash reserves – Washington Post
- Puerto Rico to Default on $37 Million of Payments Due Jan. 1 – Blooomberg
- Canada’s New Government Makes Its First Big Mistake – Bloomberg
Terra Incognita
- Private schools benefit from more than $2 billion in government funding – Fairfax…up there with Super concessions and Negative Gearing as the biggest vested interest succubus on Australia…
- Turnbull flags sweeping reform following union royal commission as unions urge caution – Fairfax…yes unions can be a blight, but they are far from the largest…
- Gonski had it right, education reform is what’s needed, not more discussion – Fairfax…a nation not serious about education is serious about mediocrity and economic redundancy…
- Budget surplus: it was a good idea at the time – Fairfax, Pascoemeter…and the extra A?…
- California’s kangaroo product market in limbo as moratorium on ban comes to end – ABC
- Trade union royal commission findings released: Cesar Melhem, Kathy Jackson referred for possible prosecution – ABC
- Dairy farmers most optimistic in agricultural sector for 2016 – NZ Herald
- Graduates who move overseas to be forced to pay back student debts – Guardian
- Cooling housing market starting to hurt Melbourne apartment buyers – AFR…and there’s a lot more on the way…
- Property investors switch loans worth $32.5 billion to owner occupiers – AFR…a little something for the ATO to have a ferret around with…
Commodities
- The collapse in the price of oil is a challenge to the old world order – Telegraph, Heath…very good read…
- US gas price lift of little cheer as Asian demand disappoints – Fairfax
- Shell Opens Natural Gas Wells Off Irish Coast – NY Times
- Oil tumbles 3% after unexpected US rise in stockpiles – Business Times
- Petrochemical sector running on full steam as low oil prices boost margins – Business Times
- Oil prices plummet again as Saudis vow to maintain output – Guardian
- Commodity sector in pain as China’s super-boom ends – Reuters
- The Crude Oil Price 2016 Prediction Game – Market Oracle
- The last king of coal makes his stand as mines vanish around him – Mineweb
- High hopes as miners turn to marijuana – Mineweb
- Oil will blow past $80 a barrel in 2016 – Mineweb
- $10tn Investment needed to avoid massive oil price spike – Mineweb
- As OPEC Loses Control, There’s a New Power in the Oil Market – Fiscal Times
- Oil to fall under $30 before rebounding – CNBC
- Oil Prices Become a Problem for U.S. Steelmakers – Bloomberg
- Capital Economics Forecasts Wild Ride for Iron Ore as $20s Loom – Bloomberg
- Russia’s ESPO Blend crude still struggles in Asia-Pacific – Reuters
- Record U.S. Cushing oil stocks stir fears about glut, more price pain – Reuters
- Saudi Arabia says won’t limit oil production, can meet customer demand – Reuters
- Glencore’s John Mack Says China Is Still Bullish for Commodities – Bloomberg
- Regional powers could make or break TAPI pipeline project – Nikkei Asian Review
- Misalignment of Energy Goals Fuels Appetite for Coal – Caxin
- Wild bee populations dwindle in main US crop regions: study – CNBC
- Something Just Broke In The U.S. Silver Market – Zero Hedge
Capital markets
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- Goldman Expects 3% Treasury Yields Next Year, Echoing 2015 Call – Bloomberg
- Bond Buyers Readying Defenses for 2016 Leave Nothing to Chance – Bloomberg
- FX monitoring systems remain in infancy – Euromoney
- US junk bonds braced for bumpy 2016 as funds refuse redemptions – Euromoney
- ZIRP, And The Factors That Launched 1,000 ETFs – investorfieldguide.com
- The Effect of Fed Funds Rate Hikes on Consumer Borrowing Costs – NY Fed…interesting…
- Capital markets and job creation in the 21st century – Brookings
- Borrowers keen for more margin loans – Fairfax
- Banks’ biggest bugbear: rising compliance bar – Business Times
Global Macro
- The world’s political and economic order is stronger than it looks – Telegraph, AEP
- Four challenges facing emerging market investors – Financial Post
- Economic growth will disappoint again in 2016, warns IMF’s Christine Lagarde – Telegraph
- G-20 eyes guideline for structural reforms to encourage global growth – Japan Times
- When Currencies Collapse – Peterson Institute…worth noting…
- What Economic Forecasters Got Right, and Wrong, in 2015 – WSJ
- Economy 2016: Coming up after the break, more of the same – Fairfax, Pascoemeter
- Piketty vs. Piketty – Project-Syndicate, Delong…worth a read…
- The Global Economy Confronts Four Geopolitical Risks – Project-Syndicate, Feldstein
- New Year’s Resolutions for the Global Economy – Project-Syndicate, Boskin
- 2016 will be a year of living dangerously for the global economy – Guardian
…and furthermore…
- Jedi master: ‘You must unlearn what you have learned’ for financial success – Washington Post
- Why do we still have 5 cent pieces (and what can you do with them)? – Fairfax…should we ditch them?…
- Austerity is their best weapon: How the rich and powerful sold inequality to the masses – Salon
- The Math Class Paradox – The Atlantic
- Will Inequality Ever Stop Growing? – The Atlantic
- The Luck of the English – The Atlantic
- Speculation on Spacex Mars Colonization Transport – Next Big Future
- THIS IS HOW OUR BODIES BETRAY US IN A LIE – TED
- Here’s What Architects See in Homes of the Future – WSJ
- ‘Star Wars: The Force Awakens’ becomes the fastest film ever to $1-billion mark – Washington Post
- The Fascism of the Affluent – Project-Syndicate, Fischer…superb read…
- Microsoft to warn email users of suspected hacking by governments – Reuters
- In Silicon Valley Now, It’s Almost Always Winner Takes All – New Yorker
- The world economy’s winners and losers in 2015 – Business Times
- Recession, retrenchment, revolution? Impact of low crude prices on oil powers – Guardian
- Beyond the Revolving Door – Project-Syndicate…good read, when are business and government too close?…
- These Charts Show the Astounding Rise in Passive Management – Bloomberg
- A History of Fed Leaders and Interest Rates – NY Times…couple of weeks old but well worth a look…
- Why so many boomers need a retirement reality check – CBS
- How Much of Your Audience is Fake? Marketers thought the Web would allow perfectly targeted ads. Hasn’t worked out that way. – Bloomberg…some very big players are right into this fraud too…
- Clarence Ayres on the economic concept of capital – RWER
- Intergalactic Finance: Valuing the Star Wars Franchise – Musings on Markets…worth a look…
- The Storm That Will Unfreeze the North Pole – The Atlantic
Science Tech & Climate
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- Unnatural consensus on climate change – Financial Post
- North Pole temperatures spike ‘above freezing’ as Storm Frank sends warm air north – Telegraph
- High dose vitamin D could treat multiple sclerosis, scientists find – Telegraph
- Lies, Damned Lies and Physics – Bloomberg
- North Pole bracing for sweater weather – Market Watch
- The Real-Life Origins of the Legendary Kraken – Epoch Times
- Human-machine superintelligence can solve the world’s most dire problems – Phys.org
- New genes born by accident lead to evolutionary innovation – Phys.org
- Gene-editing technique successfully stops progression of Duchenne muscular dystrophy – Phys.org
- Malware seen turning systems into proxies without consent – Tech Explore
- Mysterious radio signals from space discovered to be a much better test of Einstein’s General Relativity theory – Phys.org
- Floating anti-plastic waste dam to be tested in North Sea – Phys.org
- Amazon rainforests could transition to savannah-like states in response to climate change, new study predicts – Phys.org
Plus the Christmas 2015 LvO, DLS and me Podcast again
Pt1
Pt2
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