Links 24 August 2018

Global Macro / Markets / Investing:

• The Case for Low Capital-Gains Taxes Grows Weaker – Bloomberg
• This is the day that the climate change fight was obviously lost – Washington Post
• For many young investors, the stock market’s only gone up – AP
• Dear Elon: An Open Letter Against Taking Tesla Private – Ark Investment
• SEC Could Face Backlash if Elon Musk Is Exonerated – Bloomberg
• Turkey’s Meltdown Hits Japanese Mom-and-Pop Investors – WSJ
• Bull Market Hits a Milestone: 3,453 Days. Most Americans Aren’t at the Party. – NY Times
• The myth of intertemporal labour supply substitution – VOX

Americas:

• Betsy DeVos Is Said to Weigh Letting School Districts Use Federal Funds to Buy Guns – NY Times
• Michael Cohen paid a mysterious tech company $50,000 ’in connection with’ Trump’s campaign – CNBC
• ‘How Did We End Up Here?’ Trump Wonders as the White House Soldiers On – NY Times
• Trump administration is using federal disability law to disenfranchise minority voters – Think Progress
• It’s Too Late to Protect the 2018 Elections. But Here’s How the U.S. – Law Fare
• Trump’s Nuclear Option – Weekly Standard
• Obama 2008 campaign fined $375,000 – Politico
• This is the moment all of Trump’s anti-media rhetoric has been working toward – Washington Post
• Can Michael Cohen Bring Down Trump? – NY Times
• Fed Signals Readiness to Hike Again If Economy Stays On Track – Bloomberg
• All Eyes on the Presidency – The Atlantic
• Washington Is Turning Into Moscow – The Atlantic
• A US-Mexico deal? Not without Congress – CNBC
• What’s Holding Back Wages in America? – Bloomberg
• Gen Z Is Set to Outnumber Millennials Within a Year – Bloomberg
• Million-Dollar Home Sales Are Gaining in U.S. While the 99% Balk – Bloomberg

Europe:

• Germany calls for global payments system free of US – FT
• Lessons For The Eurozone From The Greek Debt Crisis – Forbes
• U.K. foreign secretary praises Trump on trade and Russia – Axios
• Russian Central Bank Buys More Gold in Face of Tougher Sanctions – Bloomberg
• Pick Your Own Brexit – Bloomberg
• EU vows to get tough on UK’s market access after Brexit – FT

Asia:

• U.S. Seizes on Chinese Economic Vulnerability as Trade Talks Start – WSJ
• China’s Consumption Downgrade: Skip Avocados, Cocktails and Kids – NY Times
• China’s quest for more babies is showing signs of desperation – Quartz
• For U.S. to Stay in WTO, China May Have to Leave – WSJ
• The Great Chinese Art Heist – GQ
• U.S. and China officials meet as Thursday tariff deadline looms – Reuters

Trans-Tasman:

• Alan Jones just called Scott Morrison the “nigger in the woodpile” live on air – Daily Mail
• Labor to refer Peter Dutton’s au pair visa decision to Senate inquiry – The Guardian
• The Liberal Party scorpions and the frog: David Pope – PBS
• It doesn’t matter who’s prime minister. If it’s a Liberal, it will be the same – The Guardian
• Seven political careers ended by climate change policy – ABC
• American Named ‘Peter Dutton’ Is Getting Heckled On Twitter – Gizmodo
• ‘Fed up’: Nationals MP to go to crossbench if there’s another leadership spill – SBS
• Huawei banned from 5G mobile infrastructure rollout in Australia – ABC
• Hyper-partisanship is killing two great democracies – ABC
• Woolworths faces union legal action to scuttle EBA and get $1b in backpay – ABC
• NBN boss blames slow speeds on everyone refreshing their browser to check who’s Prime Minister – Chaser
• South Australia runs out of hay as drought bites – ABC
• Malcolm Turnbull’s ministers trying to jump ship — who’s in and who’s out – ABC
• Malcolm Turnbull has dared his opponents in the Coalition to come and get him – ABC
• Liberal leadership crisis: MPs move to oust Malcolm Turnbull in late night second strike – The SMH
• A housing stocktake by Auckland Council’s chief economist – Interest.co.nz
• Govt to shell out $300m to upgrade Auckland hospitals – Interest.co.nz