Links 5 December 2017

Global Macro / Markets / Investing:

• Digital-Currency Fever May Spread to Federal Reserve – WSJ
• Bitcoin Storms Wall Street – Barron’s
• Financial markets could be over-heating, warns central bank body – The Guardian
• How Cashews Explain Globalization – WSJ
• The End of Labor: How to Protect Workers From the Rise of Robots – The Atlantic

Americas:

• The Great Recession Is Still With Us – The Atlantic
• What happened when North Carolina cut taxes like the GOP plans to for the country – Washington Post
• Economists Seem to Back Off Economic-Growth Claim for Tax Cuts – Bloomberg
• Goldman Sees U.S. Tax Cut Boosting Growth 0.3% Point in 2018-19 – Bloomberg
• Trump approves National Security Strategy – Axios
• What Living On $100,000 A Year Looks Like – Apple News
• US pulls out of UN migrant and refugee pact – France24
• Venezuela is launching a cryptocurrency backed by oil, gas, gold and diamonds – CNBC
• Venezuela to Create a Cryptocurrency Amid Bolivar’s Free Fall – Bloomberg
• In a Venezuela Ravaged by Inflation, ‘a Race for Survival’ – NY Times
• Enter the ’petro’: Venezuela to launch oil-backed cryptocurrency – Reuters

Europe:

• Tony Blair backs Labour’s ‘land value tax’ to tackle housing crisis – The Guardian
• Europe holds all the cards in the Brexit talks – FT
• Progress in Brexit talks has lessened chance of disorderly exit – Reuters poll – Reuters
• EU Migration to the U.K. Plummeted 43% One Year After Brexit Vote – Bloomberg
• Europe draws in nearly half of funds raised via initial coin offerings – report – Reuters
• Europe’s Longest-Serving Bank Chief Isn’t a Bitcoin Believer – Bloomberg

Asia:

• China confirms deployment of fighters to South China Sea island for first time – Japan Times
• 8 Cents More for a Chicken Skewer? It’s a Breakthrough in Japan – WSJ
• Japan may cut corporate tax rate to 20% through incentives – Nikkei Asian Review
• Pollution stops play at Delhi Test match as bowlers struggle to breathe – The Guardian
• China’s Top Ideologue Calls for Tight Control of Internet – NY Times
• Chinese Battery Champion Has Fully Charged IPO – WSJ

Trans-Tasman:

• The questions Hayne needs to ask and the banks must answer – ABC
• Foreign spies and donations crackdown long overdue – ABC
• Real estate company fined for underquoting properties – ABC
• International legal action against the Federal Government’s backpacker tax – ABC
• ‘This’ll kill us’: Even Government MPs hate Berejiklian’s $2b stadium spend – ABC
• Bennelong by-election: Chinese Communist Party-linked donor’s adviser joins John Alexander’s campaign team – Daily Telegraph
• Banking royal commission could be a superannuation sting that backfires – ABC
• Government’s superannuation bill ‘precisely the wrong model’, says expert – ABC
• Young and working hard to get out of long-term unemployment – The SMH
• Labor questions timing of NBN HFC delay announcement – ITWire
• NSW Deputy Premier John Barilaro stands by his call for Prime Minister Malcolm Turnbull to quit – ABC
• Labor senator Katy Gallagher may be ineligible over UK dual citizenship, documents show – ABC
• ExxonMobil paid no tax on $18 billion revenue, unions allege – The Age
• Sam Dastyari is a Chinese ‘agent of influence’: ex-intelligence chief – The AFR
• Farmers and banks can benefit from banking royal commission ‘tune-up’ – ABC
• It’s time we thought a bit harder about why we hate banks – The SMH
• Back to the future of state housing – Interest.co.nz
• A warning to the RBNZ – Interest.co.nz