Links 1 December 2017

Global Macro / Markets / Investing:

• Goldman Warns Highest Valuations Since 1900 Mean Pain Is Coming – Bloomberg
• Bitcoin’s Wild Ride: A Rally, a Rout and Outages on the Exchanges – Bloomberg
• Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stiglitz Says – Bloomberg
• Will Tesla Die for Lack of Cobalt? – WSJ
• McKinsey: automation may wipe out 1/3 of America’s workforce by 2030 – Axios
• Robots Are Coming for Jobs of as Many as 800 Million Worldwide – Bloomberg
• What to Worry About in This Surreal Bull Market – Bloomberg
• The Bitcoin ‘Consensus’: Yes It’s a Bubble, Buy It Anyway – Barron’s
• OPEC, Russia head for oil cut extension but wary of overheating market – Reuters
• The Nafta Years Have Been Terrible for Mexican Growth – Bloomberg

Americas:

• Two new reports suggest Trump has come unhinged. The truth is worse. – Washington Post
• Trump’s Tax Promises Undercut by CEO Plans to Reward Investors – Bloomberg
• Yellen: $20 trillion national debt ’should keep people awake at night’ – CNBC
• A Moral Abomination: Saint Jack weighs in on tax proposal – The Reformed Broker
• For Every Dollar New York Sends to Washington, It Gets 81 Cents Back – WSJ
• The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes – FiveThirtyEight
• Corporate Tax Rate in Flux as Senate Nears Initial Vote – WSJ
• It Started as a Tax Cut. Now It Could Change American Life. – NY Times
• Dell Executive Warns of Tax Bill’s ’Devastating’ Consequences – WSJ
• Is Donald Trump Lying, or Losing His Mind? – Vanity Fair
• U.S. Economy Reaches Its Potential Output for First Time in Decade – WSJ
• The Senate’s tax bill is a sweeping change to every part of federal health care – VOX
• Big contracts, no storm tarps for Puerto Rico – AP

Europe:

• The Russian billionaire next door: Putin ally is tied to one of D.C.’s swankiest mansions – Washington Post
• Britain and the EU agree Brexit divorce bill – The Telegraph
• Britain close to Irish border deal – The Times
• Brexit bill will not make a dent in public finances, economists say – FT
• Europe’s Feelgood Factor Lifts Company Sentiment to Decade High – Bloomberg

Asia:

• China Proves a Neutered Internet Can Still Be Lucrative – WSJ
• The near-term economic risks facing China’s economy are ‘extinct’ – Business Insider
• China Economic Data Exceeds Estimates, Driven by Export Demand – WSJ
• Chinese manufacturing expanded more than expected in November – CNBC
• US seeks to deny China market economy status in WTO – FT
• China takes economic hit as environment nears ‘point of no return’ – CNN

Trans-Tasman:

• Sam Dastyari told to resign by Labor leader Bill Shorten – ABC
• Sam Dastyari must now contemplate an awkward truth: his ambitions for higher duties are dashed – ABC
• Malcolm Turnbull announces banking royal commission after prolonged Nationals pressure – ABC
• Big four banks tell government to set up inquiry – The SMH
• Banking royal commission: Government in name only as Malcolm Turnbull loses control of the politics – The SMH
• Malcolm Turnbull backflips on religious protections in same-sex marriage bill – The Guardian
• Banking royal commission: Why banks don’t want property lending scrutinised – ABC
• Australia’s offshore detention regime is a brutal and obscene piece of self-delusion – The Guardian
• Robots Will Run Mines Within the Next Decade, Anglo Says – Bloomberg
• ACCC blasted over NBN speed monitoring delay, ‘inadequate’ tests – Brisbane Times
• Solar Grid Parity For Australia By 2020 As Renewables Surge – Clean Technica
• Australia quality of life: Country drops three places on global index – News.com.au
• Adani: Chinese Government denies receiving application to fund Carmichael mine – ABC
• Citizenship crisis may hit Labor: Shorten – Sky News
• Labor in factional brawl over Qld Treasury – 9News
• South Australia’s Tesla battery called on a day ahead of schedule as hot weather takes hold – ABC
• Big drop in new dwelling consents in October  – Interest.co.nz