Weekend reading: 7-8 July 2018

Global Macro / Markets / Investing:

• Global temperature rises could be double those predicted by climate modelling– The Guardian
• Why Bitcoin may soon be worth nothing– NY Post
• Testing the Investors– Bloomberg
• It’s Better to Be Rich Than Right– Bloomberg
• How to Craft a Winning Value Proposition– Visual Capitalist
• Goldman Says Buy Commodities as Clock Ticks Toward Trade War– Bloomberg
• It is a mystery why bankers earn so much– FT
• The case against income tax– Renegade Inc
• The Trade Slowdown Investors Fear Has Already Arrived– WSJ
• Bitcoin Futures Killed the Bitcoin Rally (and Will Keep It from Returning): Economists– Fortune
• Turbulence ahead for airlines despite global demand rise– Irish Independent
• The China-U.S. Power Struggle Is Just Beginning– Bloomberg
• Welcome to Your Trade War, World– Bloomberg
• Dollar Bulls Grapple With Buyer’s Remorse– Bloomberg
• Cryptocurrencies and monetary policy– Bruegel
• Trade War Between U.S. and China Moves From Threat to Reality– NY Times
• There Isn’t Much the Fed Can Do to Ease the Pain of a Trade War– NY Times
• It’s on: Trump confirms he’ll pull trigger on trade war– NZ Herald
• Risk of ‘brutal correction’ in global stock markets– NZ Herald
• Replace Yield Curve as a Recession Predictor? The Fed Considers an Alternative– NY Times
• China warns US ‘opening fire’ on world with tariff threats– Nikkei Asian Review

Americas:

• Americans Are Having Fewer Babies. They Told Us Why– NY Times
• Michael Cohen tells friends he doesn’t think Trump would pardon him– CNN
• Take Our Cheese, Please: American Cheese Makers Suffer Under New Tariffs– WSJ
• How to Make Trump’s Tax Returns Public– NY Times
• The messy reality of Donald Trump’s poll numbers– VOX
• Great job openings, no candidates– CNN
• There Isn’t Much the Fed Can Do to Ease the Pain of a Trade War– NY Times
• Been Down So Long It Looks Like Debt to Me– The Baffler
• Support for immigration is surging in the Trump era– VOX
• With Tariff Deadline at Hand, Businesses Brace for the Fallout– WSJ
• Toronto home prices finally inch up in June– The Star
• U.S. energy, agricultural and plastics firms gird for next round of tariffs to drop– Reuters
• U.S. Industries Fear Worst Is Yet to Come From Trump Tariffs– Bloomberg
• Trade war with China is finally here — and it won’t be pretty, analysts say– Chicago Tribune
• How one mysterious Chinese businessman controls the majority of fireworks in the U.S.– Chicago Tribune
• America the Loser– Project-Syndicate
• Limited unionization and government aid hold back US workers, study says– Boston Globe

Europe:

• Jaguar Land Rover says hard Brexit will cost it £1.2bn a year– FT
• City of London struggles to unite on post-Brexit regulation– FT
• Tesla Drivers Are Getting Disgruntled in Key European Market– Bloomberg
• Italy to Start Sweeping Economic Program With Upcoming Budget– Bloomberg
• The UK economy has slowed to a standstill, largely because of Brexit– The Economist
• What is the EU single market and how does Brexit affect it?– FT
• Germany’s top telecoms regulator has US tech groups in its sights– FT
• EU states back measures to limit steel imports after U.S. tariffs– Reuters
• A Danish Scandal Is a Headache for the World– Bloomberg
• Collateral damage: in a US-China trade war, Europe could be the big loser– SCMP
• Beyond Nord Stream 2: a look at Russia’s Turk Stream project– Bruegel

Asia:

• Trump’s trade war with China is finally here — and it won’t be pretty, analysts say– Washington Post
• A U.S. Cargo Ship Is Racing to China to Beat the Tariffs– Bloomberg
• Here’s Where China Stands as Tariff Hour Nears– Bloomberg
• The AI arms race: the tech fear behind Donald Trump’s trade war with China– FT
• Devaluation Risk Makes China’s Balance of Payments Interesting (Again)– Council on Foreign Relations
• China warns U.S. is ’opening fire’ on the world with tariff threats– Reuters
• Beware China Equity Bulls– Bloomberg
• ‘China’s Google’ releases its first AI chip– Tech Review
• As tariffs loom, China state media slams Trump’s ‘gang of hoodlums’– Reuters
• How trade war with U.S. can hurt growth in China and beyond– Reuters
• China keeps LNG off tariff list for now, could be trade weapon later– Reuters
• Singapore’s Decisive Property Crackdown Set to Damp `Euphoria’– Bloomberg
• As US and China spar over trade, Japan may avoid a direct hit – for now– SCMP
• How a sliding yuan and volatile stock market have put China’s central bank in the hot seat– SCMP
• From Singapore to the US, overseas Chinese are increasingly fearful of criticising Beijing. Is this what China wants?– SCMP
• Japan wages rise in May at fastest pace in almost two years– Nikkei Asian Review

Trans-Tasman:

• Calls for all political donations to be banned in Queensland– Brisbane Times
• Experts question Turnbull government’s $1b contract with IBM after census fail – The AFR
• Private schools on funding ‘hitlist’ actually increase their funding– The Guardian
• Hidden in plain sight: what the recycling crisis really looks like– The Guardian
• Police criticised for opening unlocked cars as part of obscure law crackdown– ABC
• Foodora dishes out punishment to injured riders in ‘oppressive’ policy, ABC investigation reveals– ABC
• Drugs found in fewer than 15 per cent of sniffer dog searches in South Australia– ABC
• High cost of keeping WA happy– The SMH
• Government is beholden to coal huggers: Bandt– Sky News
• Jobseeker service failures revealed as Coalition accused of ‘digital stuff-up’– The Guardian
• Disgruntled NBN customers could be left without ombudsman’s help– The SMH
• Ecosystems across Australia are collapsing under climate change– The Conversation
• DVD rental store defies odds to swim against stream of downloaders– ABC
• Coles and Woolworths to reap profits of plastic bag ban– Sky News
• Now the big job – managing KiwiBuild expectations– Interest.co.nz
• KiwiBuild and the recognition of ‘Ponsonby problems’– Interest.co.nz
• Private schools on funding ‘hitlist’ actually increase their funding– Guardian
• How the west won the GST distribution battle– ABC
• Lower for longer interest rates could spark nasty snapback: Bank of International Settlements– ABC
• The Government’s willingly put itself under enormous pressure by inviting registrations for KiwiBuild houses – and getting loads of responses – at such an early stage– co.nz
• How US-China trade war could affect NZ– NZ Herald
• Chinese hackers breach ANU, putting national security at risk – Fairfax

…and furthermore…

• Office napping climbs out from under the desk and into high-tech pods– Chicago Tribune
• A record number of folks age 85 and older are working. Here’s what they’re doing– LA Times
• Is Cyber the Perfect Weapon?– Project-Syndicate
• On the direct and indirect real effects of credit supply shocks– VoxEU
• Research Check: does drinking coffee help you live longer?– The Conversation
• Computerising industries and routinising jobs: Explaining trends in aggregate productivity– VoxEU
• Intergenerational mobility across the world: Where socioeconomic status of parents matters the most (and least)– VoxEU
• Immigrants’ residential choices and their consequences– VoxEU
• Global market power and its macroeconomic implications– VoxEU
• Even fishing and coal mining are not losing jobs as fast as the newspaper industry– Boston Globe
• Google Chrome ‘secretly recording everything you do online’– NZ Herald