Sunday Supplement: 5 April 2020

Otway Night, 1994, Jan Senbergs, Art Gallery of NSW

Markets & Macro

• The Coronavirus Is the World’s Only Superpower – New Yorker
• This recession will finally end the private-sector ‘debt supercycle,’ says firm that invented the term – MarketWatch
• Beyond the Global Coronavirus Crisis: Austerity of Recovery? – Pearls and Irritations
• Will inflation make a comeback after the crisis ends? – VoxEU
• A Trio of Downgrades Spell Default Danger for Emerging Markets – Bloomberg
• The Most Profitable Trade: ‘Oil All Over the Oceans Right Now’ – Bloomberg
• Coronavirus upends global food supply chains in latest economic shock – Reuters
• Pandemic opens curtains on next economic model – AsiaTimes
• As the coronavirus triggers a global economic crisis, just how bad could it get? – DW
• Market’s Jobs Response Signals Yield-Curve Control Is Here – Bloomberg
• Worst case scenario still in play for oil prices – Asia Times
• Forget ‘recession’: this is a depression – Guardian

Asia

• Vietnam protests Beijing’s sinking of South China Sea boat – Reuters
• Indian officials warn of lockdown extensions as COVID-19 cases in South Asia near 6,000 – Reuters
• Coronavirus: Hong Kong and Singapore are hungry for Australian produce, but why can’t they get it? – SCMP
• Wuhan lockdown led to dramatic cut in global spread of coronavirus, researchers say – SCMP
• Chinese banks face double threat of more bad debt, lower margins amid worsening coronavirus pandemic – SCMP
• Coronavirus: China’s unemployment crisis mounts, but nobody knows true number of jobless – SCMP
• Coronavirus: India’s bailout may not be enough to save economy – BBC
• A pandemic in an unequal India – Pearls and Irritations
• China fears scourge of unemployment – Asia Times
• Korea keeps economy running, but faces dire 2020 – Asia Times
• Japan to ease trigger on factory and store write-downs – Nikkei Asian Review

Americas

• America has no federal response to this crisis – Vox
• How Trump surprised his own team by ruling out Obamacare – Politico
• Our Health Insurance System Was Not Built for a Plague – Slate
• ‘Lord of the Flies: PPE Edition’: U.S. cast as culprit in global scrum over coronavirus supplies – Politico
• Trump aims to ease U.S. oil industry’s cash crunch, no plan to trim output: sources – Reuters
• Coronavirus depresses U.S. payrolls, more job losses coming – Reuters
• S. businesses swarm coronavirus bailout fund after days of confusion – Reuters
• Coronavirus leads to 3.5 million people losing employer coverage – Axios
• US accused of seizing face mask shipments bound for Europe, Canada – DW
• America’s emergency medical stockpile is almost empty. Nobody knows what happens next. – Vox
• The U.S. Officially Lost 700,000 Jobs in March. In Reality, It Was Much, Much Worse. – Slate
• The Roberts Court Has Made the Looming Coronavirus Election Crisis So Much Worse – Slate
• This hard truth about the mortgage markets isn’t being told – MarketWatch
• An Unhealthy Military Is Struggling to Fight COVID-19 – The Atlantic
• Turns Out $2 Trillion in Stimulus Isn’t Nearly Enough Stimulus – Bloomberg

Europe

• ESM loans or Coronabonds: A legal analysis from the German perspective – VoxEU
• Creeping Authoritarianism Has Finally Prevailed – The Atlantic, Applebaum
• The EU Watches as Hungary Kills Democracy – The Atlantic
• Coronavirus: UK among economies risking record slump – BBC
• Telemedicine Arrives in the U.K.: ‘10 Years of Change in One Week’ – NY Times
• Europe’s biggest city Istanbul running out of time to stop virus surge warns mayor – BNE Intellinews

Terra Incognita

• ‘Australia won’t look the same’: ANZ’s Elliott warns coronavirus impact will be generational – Ninefax…he has a point…
• Strain on the banks: Financial systems hinge on our health strategy – Ninefax
• Lack of welfare for jobless migrants could potentially ‘worsen public health crisis’ – Ninefax
• The two meetings that changed the trajectory of Australia’s coronavirus response – Guardian
• Coronavirus shows Australia’s tax cuts were based on pure fantasy – Guardian
• Men – VoxEU
• Scandal-magnet Angus Taylor fails to disclose Virgin and Qantas freebies – Michael West
• Is Australia trading too much with China – Pearls and Irritations
• Future Shock: What will New Zealand look like a year after coronavirus? – Stuff.co.nz
• Coronavirus: International students should go home if they can’t support themselves: PM – Canberra Times
• Corona-phobia: All in this together, or in danger of turning on each other? – The Monthly

Global Macro

• Coronavirus fuels historic drop in gasoline demand – Axios
• After coronavirus passes, nothing will be the same — and that might not be a bad thing – ABC
• The normality of extraordinary monetary reactions to huge real shocks – VoxEU…interesting comparisons…
• The dollar and international capital flows in the COVID-19 crisis – VoxEU
• Baby boomers and the housing market on the cusp of COVID-19 – VoxEU
• Unemployment in US and UK ‘may be worse than in Great Depression’ – Guardian
• Will coronavirus reverse globalisation? – BBC

 …and furthermore…

• Bill Withers Was Always There if You Needed Him – New Yorker
• The Pandemic Is Turning the Natural World Upside Down – The Atlantic
• Edible insects set to be approved by EU in ‘breakthrough moment’ – Guardian
• Is marriage over? Marriage is practised in every society yet is in steep decline globally. Is this it for longterm intimate relationships? – Aeon
• Sometimes the most powerful act of resistance is to do nothing – Aeon
• Bill Withers: The Soul Man Who Walked Away – Rolling Stone

…and coronavirus…

• Researchers warn the COVID-19 lockdown will take its own toll on health – Reuters
• Everything you need to know about making your own face mask – Vox
• A Comprehensive Guide to Masks – Slate
• Cats More Susceptible to Coronavirus than Dogs, Scientists Say – Caixin
• Face masks: can they slow coronavirus spread – and should we be wearing them? – Guardian
• Coronavirus: US researchers develop possible vaccine with novel injection technology – SCMP
• Australian scientists discover head lice drug kills coronavirus in lab – Ninefax
• Tuberculosis vaccine ‘potential game-changer’ in Covid-19 fight – Irish Times
• The CDC now recommends everyone use cloth masks in public – Vox
• Ferrets used in first Covid-19 vaccine animal trial – Asia Times

Quarantine/Self Isolation Sunday viewing….

HyperNormalisation (2016) Adam Curtis