Machine 10, Bridget Mclean, 1973, Art Gallery of NSW
China
- Xi open to growth below 6.5pc on debt risks – SCMP
- President Xi Open to Growth in China Falling Below 6.5% – Bloomberg
- Forex reserve safety concerns mean China ‘unlikely to massively sell US debt’ – SCMP
- China’s bond market plunge fans fears over blurred risks and regulatory gaps – SCMP
- China’s Bond Rout Triggers Turmoil as Leverage Curbs Bite – Bloomberg
- China Says Will Make “Tactical Adjustments” On US Debt – Zero Hedge
- China’s Xi calls for wide-ranging measures to regulate hot property market – Business Times
- Are China’s Schools Failing? – Bloomberg
- China confirms second human bird flu infection this week – CNBC
- U-turn from policy makers on home prices could bring whiplash – SCMP
- China bonds the latest bubble to pop – Nikkei Asian Review
- China’s 2% Inflation Doesn’t Tell Whole Story as Yuan Slumps – Bloomberg
Asia
- No end in sight to Japan government spending – Nikkei Asian Review
- How India and Indonesia are chasing tax revenue – Nikkei Asian Review
- Taiwan keeps key rate steady on expectation of mild recovery – Nikkei Asian Review
- India’s small businesses facing ‘apocalypse’ amid biggest financial experiment in history – Guardian
- South Korea central bank says 2017 growth may cool, suggests more fiscal stimulus needed – Business Times
- Malaysia extends bauxite mining ban by three months – Business Times
- Philippines Holds Rate as Emerging Nations Brace for Fed Risk – Bloomberg
- Philippine president says he will stop all online gambling – Business Times
- Japan’s Students Forced to Live Under a Burden of Debt – Bloomberg
- Philippine president Duterte says he will stop all online gambling – CNBC
- Slower tax revenue growth in aging Japan puts Abenomics at crossroads – Japan Times
- India Asks Power Grid to Consider Selling Stakes in Projects – Bloomberg
- More Asian defaults loom in 2017 amid record Korea shipyard debt – Business Times
- Thailand Holds Rate as Fed Hike Pressures Asian Currencies – Bloomberg
- “We Are Nothing but Machines to Them” – Slate…Bangladesh working conditions are pretty ugly…
Europe
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- Greece’s Debt Problem Has Reached a Dangerous Point – Value Walk
- State rescue of Italian bank Monte dei Paschi is a cathartic release – Telegraph, AEP
- The spectre of nationalisation haunts Monte dei Paschi – Notayesmanseconomic’s…worth a read…
- A decade on, Romania and Bulgaria assess their roles in Europe – BNE Intellinews
- Italy to bail out Monte dei Paschi di Siena bank with €20bn rescue fund – Guardian
- Italy’s political class should be very alarmed if MPS needs state bailout – Guardian
- Spain seeks to lure London financial firms post-Brexit – Business Times
- Hungarian government aims to boost growth above 4% with populist measures – BNE Intellinews
- Spanish Banks Ordered to Repay Customers Over Unfair Mortgages – NY Times
- Free Cash in Finland. Must Be Jobless. – NY Times
- Investors snub Italian bank Monte Paschi’s share offer – sources – Reuters
- Is Russian activist Navalny falling into Putin’s trap? – BNE Intellinews
- How PrivatBank billions vanished through Alpine “transit banks” – BNE Intellinews
- Greece’s Perpetual Crisis – Project-Syndicate
- Russia alleges Deutsche employee manipulated markets with $5 billion of trades – Reuters
- Has the Embargo Damaged Farmers in Europe? – Economonitor
- European Banks Risk Becoming Irrelevant – Bloomberg
- Ukraine Nationalizes an Oligarch’s Losses – Bloomberg…Oligarchocracy feasting on a nation…
- ISTANBUL: Central bank keeps its powder dry – BNE Intellinews
- Spirit of TLAC broken as regulators mark their ground – Euromoney
- Spanish economic growth in the long run: What historical national accounts show – VoxEU
- Putin says Russian economy is on the mend – AP
- Bank of Ireland takes capital hit as it hikes risk profile – Irish Times
United Kingdom
- MPs to review Bank of England’s low interest rates since crash – Guardian
- Treasury is right to question Bank of England’s monetary policy – Guardian
- UK spread betters consider move overseas amid crackdown – CNBC
- How can London’s prime property market pull itself out of its tailspin? – CNBC
- Theresa May’s Brexit Problem – Project-Syndicate
- The Coming Brexit Tragedy – Project-Syndicate
- British consumer confidence rises in December – Market Watch
- Britain could be about to crack down on trillions of dollars hidden offshore – Quartz…and when does Australia follow suit?…
- The UK’s high exchange rate has a lot to answer for – Prospect
- Taxes will rise to fund care for Britain’s elderly – Economist
- The impact of Brexit on Northern Ireland: A first look – Bruegel
United States
- Trump Says the U.S. Should Expand Its Nuclear Capacity – NY Times…we’ll meet again, don’t know when, don’t know where, but I know we’ll meet again some sunny day…
- THE CHOSEN: Who Trump Is Putting in Power – ProPublica…well worth a look – the complete American oligarch cabinet…
- Fed’s rate hike signals a déjà vu for 2017 – Guardian
- Donald Trump Is Surrounding Himself With Budget-Shredding Tea Partiers – Slate
- Financial Vetting Goes Slowly for Trump’s Wealthy Cabinet Picks – NY Times…the US is starting to look like Ukraine…
- The United States might be the next Argentina – Washington Post
- Trump May Have a $300 Million Conflict of Interest With Deutsche Bank – Bloomberg
- US core capital goods orders jump in November – CNBC
- U.S. Mortgage Rates Jump to More Than 2-Year High After Fed Hike – Bloomberg
- Disposable Income Per Capita Grows At Weakest Rate Since 2014 – Zero Hedge
- Obama seen saving U.S. economy but losing country in process as Trump exploits disconnect – Japan Times
- Coming Soon: Trump vs. Yellen – Bloomberg
- Brexit economy: inflation surge shows impact of vote finally beginning to bite – Guardian
- Home ownership among 25-year-olds in England and Wales has halved in 20 years – Guardian
- Is The Auto Industry Slowdown Signaling Trouble Ahead For The Overall Economy – Zero Hedge
- U.S. existing home sales rise to near 10-year high – Reuters
- Banks loosen lending standards for fourth straight year: U.S. regulator – Reuters
- Bad News for America’s Workers – Project-Syndicate, Stiglitz…nailing it…
- The U.S. Is Now a Country That Can Be Ignored – Bloomberg
- A plan to tax US imports has better odds of becoming law than many people think – CNBC
- Nearly 200 for-profit colleges get over 90% of their funding from the government – Market Watch…private sector parasitism…
- Every US president promises to boost economic growth. The catch: no one knows how. – Vox
- An obscure federal requirement threatens to spoil Trump’s plans as America’s developer-in-chief – Quartz
- Donald Trump’s trade team has based their analysis on a remarkably silly mistake – Vox
- Interest rate spike says slowdown not downturn — for now – XE.com
- Housing’s big question — what will happen when buyers think 4% rates are ‘crazy’ – Market Watch
- Delaware: the home of business – World Finance
Americas
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- Canada’s GDP surprises economists by shrinking, ending four straight months of growth – Financial Post
- Secrecy And Confusion Surround Venezuela’s Latest Oil Deals – OilPrice.com
- Surprise Colombia Rate Cut Could Trigger Underperformance – Mind on the Markets
- Vancouver real estate prices face double-digit drop in 2017: LePage – Vancouver Sun
- CMHC ends 30-year monopoly of the custody of mortgage records in Canada – Vancouver Sun
- Secret Unit Helped Brazilian Company Bribe Government Officials – Guardian
- Brazil begins micro reforms in attempt to end recession – Euromoney
- More Lessons from Brazil’s Boom-Bust: The “Populist Paradigm” Revisited – Peterson Institute
- Worst new housing supply drought in Toronto in 16 years drives prices to new records – Financial Post
Terra Specufestorus
- First home buyers ‘locked out’ of Sydney real estate, struggle in Melbourne – ABC
- Senator Rod Culleton declared bankrupt by Federal Court – Fairfax
- New Zealand’s economy races ahead on people boom – Nikkei Asian Review
- Adani coalmine ‘covertly funded’ by World Bank, says report – Guardian
- Australia’s greenhouse gas emissions are rising and forecast to miss 2030 target – Guardian
- We’re teetering on the brink of recession but the government is ignoring reality – Fairfax, Hewson
- New Zealand’s economy surges on consumer, building boom – CNBC
- Australia’s Fortescue beats competitors to secure exploration leases: documents – Reuters
- Investigation launched into Chinese steel being dumped in NZ – NZ Herald
- New Zealand milk output peak lowest in four years – Agrimoney
- A lying government pushing economy towards recession and greater inequality – Bill Mitchell
- Australia divided – The Monthly, Megalogenis
- Mid-Year Economic and Fiscal Outlook, 2016 – Pearls and Irritations, Michael Keating
- Malcolm Turnbull’s end of year report card – Pearls and Irritations, MacCallum
Commodities
- U.S. Shale Is Now Cash Flow Neutral – OilPrice.com
- “EVs, Solar Could Push Oil Down To $10 By 2025’’ – OilPrice.com
- For metals markets it’s still all about China – Reuters, Home
- Oil and metals outlook emboldens commodity bulls – FT.com
- Libya’s Sharara oilfield resumes production after pipeline blockade lifted – Reuters
- Here’s how dramatically investors have been fleeing gold – Market Watch
- Has dry bulk bottomed out? – Business Times
- WTO rules largely in favor of Taiwan in steel row with Canada – Reuters
- Brent curve signals oil tanks will start emptying in second half of 2017 – Reuters, Kemp
- No respite for shuttered iron ore miners as rally falls short – Reuters
- Argentina soybeans vulnerable amid so-so rain forecast – Reuters
- The Shale Oil Threat Will Not Go Away – OilPrice.com
- The Bearish Case For Oil In 2017 – OilPrice.com
- Will The Climate Crisis Spread Financial Chaos In Oil and Gas? – OilPrice.com
- The Oil Mystery Behind Saudi Arabia’s Production Cut – OilPrice.com
- Huge Decline In U.S. Proved Oil And Gas Reserves – OilPrice.com
- Has tight oil put ‘peak oil’ to rest? Not so fast: Fuel for Thought – Platts
- Surging LNG supply upsetting market balance – Nikkei Asian Review
- Glencore’s All About Oil Right Now, From Crude to Extra Virgin – Bloomberg
- Why Crude Oil Prices May See A Swing Low In Early 2017 – See It Market
Capital Markets
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- Bond markets: After 30-year bull run, global bonds routed on Trump worries – ABC
- The decline in global forex trading – SCMP
- Investors withdraw $3.7bn from emerging market equity funds – FT.com
- FOREIGN EXCHANGE OUTLOOK FOR FIRST QUARTER 2017 (pdf) – Brown Brothers Harriman…worth a look…
- You Know what Happened to Nominal Exchange Rates, but What about Effective Exchange Rates? – Mind on the Markets
- Japan research trip: how will the Bank of Japan exit YCC? – Bond Vigilantes
- The New Cold Currency War – Pimco
- 2017 LONG-TERM CAPITAL MARKET ASSUMPTIONS – JP Morgan….some useful podcasts there too…
- Smart Beta In Fixed Income ETFs Slowly Takes Root – ETF.com
- Bond market shoots first, asks questions later – Euromoney
- UBS: It’s time to short the US dollar – CNBC…maybe, but not against the AUD…
- Early Clinton Years Show Dollar-Yen Future, Top Analyst Says – Bloomberg…worth thinking about…
- Bonds Will Continue To Crash — And That’s A Good Thing – ETF Daily News
- Bitcoin circulation hits record high of $14bn – Guardian
- 6 Charts That Make The Case We Are In Long-Term Secular Bear – Value Walk, Mauldin
- What History Tells Us About Low VIX Readings & Stock Market Risk – See It Market
Global Macro
- Global Trade To Improve Despite Trump’s Protectionist Rhetoric: Goldman Sachs – Value Walk
- Inflation, Interest Rates And ‘The Politics Of Rage’ – Value Walk
- ‘Sino-US trade frictions loom’ with Trump’s new pick for policy adviser – SCMP
- Chanos: Is a big change underway in global capitalism? – INET
- Central banks have cut interest rates 690 times since Lehman Brothers: Is there a way out? – CNBC
- The International Barriers to Trump’s Economic Plan – Project-Syndicate, El-Erian
- Inflation Sensation: The New Big Deal – Bloomberg
- The Fed Puts China in a Bind – Bloomberg
- Nine economic lessons from 2016 – Prospect, Magnus…good read…
- Why Are Foreign Nations Dumping US Treasuries – Economonitor
- Seeing Past US Hegemony: A Liberal Global Trading System Without the United States – Economonitor
- The 2015 Globie: “Global Inequality” – Economonitor
- Stopping globalisation won’t halt the rise of inequality – Prospect
- The Year That Ended an Epoch – Project-Syndicate, Solana
- The Long-Term Jobs Killer Is Not China. It’s Automation. – NY Times
- The Perils of Shifting China’s “Market Economy” Dispute to the WTO – Peterson Institute
- ‘Brutal, amoral, ruthless, cheating’: how Trump’s new trade tsar sees China – NY Times
- Goldman Warns “China Remains A Key Risk”, Sees Yuan Downside Accelerating – Zero Hedge
- China tries to talk down the dollar, saying market ‘too optimistic’ about Trump – SCMP
- Is Trump serious about trade war with China? – BBC
- Deutsche Bank reaches $7.2bn settlement with US in mortgages case – Guardian
- The State Of The Global Financial Markets In 5 Charts – See It Market
- Outlook 2017: What Our Strategists Expect in the Year Ahead – Merrill Lynch
- Central banks ink deals for wider use of local currencies – Nikkei Asian Review
…and furthermore…
- When the scrutiny gets tough, the rich get more sophisticated – Nikkei Asian Review
- Welcome to Terra Sapiens – Aeon…very good read…
- How robots are making humans indispensable – FT.com, Gillian Tett
- The days of stay-at-home moms are ‘long gone,’ data show – Washington Post
- Hedge Fund Math: Heads We Win, Tails You Lose – NY Times
- Deutsche Bank to Settle Mortgage Inquiry for $7.2 Billion – NY Times
- These 3 Animated Maps Show The World’s Largest Cities Throughout History – Value Walk
- Use of artificial intelligence technology in financial services to grow: report – InvestmentNews
- A supervolcano caused the largest eruption in European history. Now it’s stirring again. – Washington Post
- Tax avoidance, expenses scams – welcome to the recruitment industry – Guardian…one of the dodgiest of all industries…
- Why Central Banks Should Offer Bank Accounts to Everyone – Evonomics, Gruen
- Why Capitalism Creates Pointless Jobs – Evonomics, Graeber….old but refreshing…
- The rise and fall of the world’s biggest cities over 4,000 years – Market Watch
- Macroeconomics and consumption: Why central bank models failed and how to repair them – VoxEU
- What’s going on under the hood: How engineers innovate in the automotive supply chain – VoxEU
- What Is the Nairu and Why Does it Matter? – Economonitor…worth a read…
- The Connection Between Work and Dignity – Bloomberg
- Blind patients in England are going to get bionic eyes in 2017 – CNBC
- Lagarde, Trump, and the IMF: Waning US Leadership Role in International Financial Institutions? – Peterson Institute
- The economic case against Christmas presents – Vox
- When it comes to bosses who don’t listen, every country is the same – Quartz
- Painkiller companies are now globally exporting addiction for profit — just like Big Tobacco – Vox
- Why The Massive Expansion Of “Money” Hasn’t Trickled Down To “The Rest of Us” – Zero Hedge
- 2 remarkable facts that illustrate solar power’s declining cost – Vox
- Cyber Experts Cite Link Between DNC Hacks and Aggression Against Ukraine – WSJ
- Manufacturing Matters Even If It Doesn’t Create Many Jobs – Bloomberg
- Go Ahead, Exchange Gifts. Forget the Economic Logic. – Bloomberg
- The Case for Protecting Infant Industries – Bloomberg
- Why I Still Don’t Buy the Russian Hacking Story – Bloomberg, Bershidsky
- If You’re So Smart, Why Aren’t You Rich? – Bloomberg
- This man is on a mission to fix the way we sleep – Washington Post
Video
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Econ Duel: Fiat Money vs. the Gold Standard – Marginal Revolution
Audio
Prof. Steve Keen: Macro Outlook Under Donald Trump, Inflation, TSY Yields, and More (podcast) – Macro Voices
The most recent MB podcast