Links 13 June 2017

Global Macro / Markets / Investing:

• Energy subsidy reform: Difficult yet progressing – VOX
• Most Positive EPS Preannouncements Issued by S&P 500 since 2012 – Factset
• Vanguard’s Bogle Says Ignore the Crowd, Stick to U.S. Securities – Bloomberg
• Bitcoin Price Crosses $3,000 Milestone to Set New All-Time High – Coin Desk
• When Currencies Fall, Export Growth Is Supposed to Follow—Until Now – WSJ
• Hedge funds face a crisis of confidence – NY Post
• Is economics a science? – Noah Opinion
• Child-related transfers, labour supply, and welfare – VOX

Americas:

• Prozac Nation Is Now the United States of Xanax – NY Times
• U.S. Household Net Worth Climbs to Record $94.8 Trillion – WSJ
• Trump gives Priebus until July 4th to clean up White House – Politico
• Trump lawyer reportedly told aides no need for outside counsel – The Hill
• Poll shows Americans find Comey more trustworthy than Trump – The Hill
• McCain says American leadership was better under Obama: report – The Hill
• In Watergate, One Set of Facts. In Trump Era, Take Your Pick. – NY Times
• Senate GOP sees path to ObamaCare repeal – The Hill
• Drug Prices: This Time Is Different – WSJ
• Puerto Rico votes in favor of statehood – The Hill
• Puerto Rico votes in favor of U.S. statehood amid low turnout – Reuters
• Merkel in Mexico criticizes building walls – The Hill
• Canada launches visa program for hiring specialized foreign talent – Globe & Mail

Europe:

• Privatisation put £50bn on cost of running railway, study claims – The Times
• 5Stars suffer setback in Italy’s local elections – Politico
• Italy’s 5-Star suffers sharp setback in local vote -exit polls – Reuters
• Is Putin Getting What He Wanted With Trump? – NY Times
• Artificial Intelligence in the UK: Landscape and learnings from 226 startups – Medium
• Macron’s party set for huge French parliamentary majority – Reuters
• Election uncertainties to be followed by many more – The Times
• Hung Parliament May Be ’Disaster’ for U.K., Businesses Warn – Bloomberg
• Theresa May’s election victory will prove pyrrhic indeed – The Guardian
• May’s Ministers Plot Softer Brexit to Keep U.K. in Single Market – Bloomberg
• Calls mount for rethink of Brexit stance – BBC
• How a crippling shortage of analysts let the London Bridge attackers through – The Guardian
• France Elects Parliament as Macron Aims to Consolidate Power – Bloomberg
• A Brexit Strategy for a Weak UK Government – Project Syndicate
• Macron party set for big win in France – BBC
• How Theresa May lost it – Politico

Asia:

• Hong Kong Shorts, Meet Your New Nemesis. Upbeat Analysts – Bloomberg
• China’s New Bridges: Rising High, but Buried in Debt – NY Times
• India, Pakistan and one man’s battle to recover his ancestral home – FT
• China just switched on the world’s largest floating solar power plant – WEF
• Bob Carr and the possible Chinese spies – Bronte Capital

Trans-Tasman:

• Of Kiwis and Currencies: How a 2% Inflation Target Became Global Economic Gospel – NY Times
• Centrelink: Government rejects $150,000 advice to make customers’ goals more realistic – ABC
• Dutton to get citizenship overrule powers – SBS
• Peter Martin: China’s gifts, research, ‘special bonds’ and Sam Dastyari’s ghost from his past – The SMH
• Malcolm Turnbull may be forced to call election after just two years of governing – The SMH
• Tradie crisis looms for Queensland as apprenticeships halved in past four years – Brisbane Times
• Media minnow is grateful for swipe by foreign media gorilla News Corp – Michael West
• Corruption fighter Tony Fitzgerald part of plan to clean up Canberra – Brisbane Times
• FactCheck Q&A: are rates of drug use 2.5 times higher among unemployed people than employed people? – The Conversation
• Attorney General Says Young People Don’t Care As Much About Privacy As Previous Generations – Buzz Feed
• Cory Bernardi Is Being Bombarded With The New LGBT Reactions For Pride Month – Buzz Feed
• Melbourne vaccination data: immunisation rates not improving in wealthy inner-city suburbs – The Age
• ‘Cryptowars’ : George Brandis’s encryption plan could create giant sinkhole in the internet – The Guardian
• Australian workers getting a record low share of GDP: report – Canberra Times
• Peter Martin: Wage rises don’t cost jobs. Really. – The SMH
• Australians Fret as Chinese Investment in Property Market Surges: Housing bubble aside, some investors may be breaching foreign ownership regulations and laundering money – The Diplomat
• China’s Communist Party seeks news influence through Australian media deals – ABC
• ‘Time for a breather on immigration’ – Interest.co.nz
• ‘Unintended’ housing development risks from tighter bank lending – Interest.co.nz
• National/Labour housing battle lines start to show – Interest.co.nz

Other:

• Jaguar Land Rover takes a stake in ride-share operator Lyft – CNBC
• It’s Confirmed: Without Government Subsidies, Tesla Sales Implode – Zero Hedge