Sunday Supplement 1 November 2020

‘McIntosh’s saw mill at Echuca, floodtime’ 1887 JW Curtis, Art Gallery of NSW

Macro & Markets

• ExxonMobil warns of $30bn writedown of shale assets amid energy price slump – Guardian
• Charting the Global Economy: Growth Surges in U.S., Euro Area – Bloomberg
• For Amazon, Apple, Facebook and Google business is booming – BBC
• In a Trumpian world where the US is the No 1 trade victim, no country is safe – SCMP
• Why Emerging Markets Are Wary of a Modern Monetary Fix – Bloomberg
• The Fed Is Really Running Out of Firepower – Bloomberg
• Oil shocks and reversal of political fortunes – VoxEU
• The Next Oil & Gas Battleground For Supermajors – OilPrice
• Globalisation needs rebuilding, not just repair – Bruegel
• Digital tax agreement would be priority as OECD head, Canada’s ex-finance minister Morneau says – CNBC…a global digital tax is going to be a big agenda item in the near term…
• China and the US risk accidental war over Taiwan – Nikkei Asian Review
• The Fed could face more pressure to act: ‘They don’t have the luxury of time anymore’ – CNBC
• Russia and the U.S. Need a Timeout on Nuclear Weapons – Bloomberg
• Global travel and tourism projected to shed 174 million jobs – AP…a lot of jobs…

Americas

• ‘Bills or food’: crisis mounts for unemployed Americans – Guardian
• Trump’s Economy Really Was Better Than Obama’s – Bloomberg
• A Rising Deficit Isn’t the U.S. Economy’s Worst Problem – Bloomberg, Smith
• US election night could spark mass protests and violence near the White House. Here’s how they are preparing for riots – ABC
• Americans Are Too Worried About Political Misinformation – Slate
• The economy could lose a generation of working mothers – Vox
• If Biden wins, here’s how he could undo Trump’s deregulation agenda – Vox…if…
• Is this the end of American optimism? – Vox
• The Absent Bloc That Could Decide the U.S. Election – The Atlantic
• How ‘America First’ Became America Alone – The Atlantic
• How Trump Could Shock the World Again – The Atlantic
• With election looming, U.S. faces record surge of coronavirus cases – Reuters
• Federal Reserve expands Main Street program to smaller firms – AP
• US wages and benefits grow at sluggish pace amid pandemic – AP
• Smaller American cities see big interest from urban flight – CNBC
• Unions discussing general strike if Trump refuses to accept Biden victory – Guardian
• US economy bounces back but deeper trends hint at enduring woe – Guardian
• Joe Biden’s economic plan: Will it convince American voters? – DW
• Trump and the US economy: What can he take credit for? – DW
• Canadian economic growth cools to 1.2% in August – CBC

Asia

• China regional GDP data shows growing economic divide, exacerbated by coronavirus – SCMP
• Chinese manufacturing expands in October but at slower pace – AP
• Behind China’s threat to support insurgency in India – Asia Times
• As China’s economy picks up, new university grads are still looking for jobs – CNBC
• China’s yuan nowhere near cracking US dollar hegemony – Bruegel
• Japan’s food industry grows hot with high-tech freezing – Nikkei Asian Review
• China pumps brakes on yuan’s surge with loosened controls – Nikkei Asian Review
• Taiwan’s economy bounces back as Hong Kong stays in recession – Nikkei Asian Review
• China, Russia seek to curb use of US dollar in Eurasian trade bloc deals to minimise risks – SCMP
• China’s digital yuan aims to halt US ‘dollarisation’, boost retail payments, ex-central bank governor says – SCMP
• Singapore’s local jobless rate at highest since 2004 as pandemic worsens lay-offs in transport and services sectors – SCMP
• China embraces rising capital inflows as rivalry with US intensifies – SCMP
• Debt at China’s state-owned firms in question after BMW partner fails to repay billion-yuan bond – SCMP
• Why Taiwan may be a key factor in China’s military modernisation plan – SCMP
• China’s economic recovery powers on as manufacturing, services sectors remain strong – SCMP
• Chinese promise market opening amid technology push – AP

Europe

• National Covid lockdown expected across England next week – Guardian
• One in eight UK renters unable to meet housing costs in full, says report – Guardian
• UK house price boom will collapse once buyers lose their jobs – Guardian
• Eurozone bounces back to economic growth – BBC
• Eurozone growth soars record 12.7% but fears grow for winter – AP
• UK jobs market at crossroads as key support program ends – AP
• Growth uncertainty, European Central Bank intervention and the Italian debt – Bruegel
• Politics, not economics, demands a strengthened international role for the euro – Bruegel
• The ECB hinted at more monetary stimulus — analysts expect it to go all in – CNBC
• ‘Millions face hardship’ as government support ends – BBC
• Government support ‘essential’ for UK economy, says IMF – BBC
• Reforming the EU fiscal framework: Now is the time – VoxEU
• Pandemic shutdowns will affect German economy – DW
• German unemployment drops unexpectedly – DW

Terra Specufestorus

• Companies are telling older people not to bother applying in JobMaker job ads. Is that legal? – ABC
• Do banks think a huge number of Australians will default on their mortgages in coming months? – ABC
• New Zealand house prices soar despite Covid recession, worsening affordability crisis – Guardian
• Why Scott Morrison is likely to be mugged by reality – Canberra Times, John Hewson
• There is a crisis in Australian democracy. Corruption is rampant. – Pearls and Irritations…is it ever…
• ‘Vilified for my culture’: why are Chinese-Australians having their national loyalty questioned? – SCMP
• 7-Eleven repays $173m to workers after some franchisees falsified records in underpayments scandal – Guardian
• ATO warns businesses not to use loopholes to exploit $30bn Covid tax concessions – Guardian
• Jailed Crown staff weren’t contacted by Victoria casino regulator until one gave a TV interview – Guardian
• Gina Rinehart rockets back to top of AFR rich list as pandemic proves kind to ‘ore-ligarchs’ – Guardian
• Investors band together to oppose Josh Frydenberg’s proposal to make virtual AGMs permanent – Guardian
• ‘Recession over’ headlines are lazy and ignore the reality of most Australians – Guardian
• Australia’s services exports have been smashed – and that’s not good for jobs – Guardian
• China-Australia relations: Canberra lashes out at China’s barley duties at WTO – SCMP
• Australia can no longer ignore need to move away from coal as customers commit to reducing emissions – ABC
• Rio Tinto Argyle diamond mine closure may prompt rush of demand for ‘totally unique’ pink stones – ABC
• Pumped hydro isn’t our energy future, it’s our past – The Conversation
• How COVID all but killed the Australian CBD – The Conversation
• BossKeeper: how JobKeeper lined the pockets of top ASX directors, executives and shareholders – Michael West
• It’s not about the watches: is Australia Post a commercial operation or a public service? – Guardian, Quiggin
• Underlying tension between mission and money in our universities – Pearls and Irritations
• The QR code has turned COVID-19 check-ins into a golden opportunity for marketing and data companies – ABC
• It’s not just public servants feeling the ire of the Morrison Government – ABC
• The Reserve Bank may cut interest rates to very close to zero — so what does that mean for borrowers and savers? – ABC…debt pays…
• Yes, Minister: aged care, it’s not my fault – Michael West

…and furthermore…

• Does anyone really believe we are going to avert a climate catastrophe? – Pearls and Irritations…no…
• Covid: The 400,000 seafarers who can’t go home – BBC
• The real winners of the US-China trade dispute – DW
• Big Tech Needs an Entirely New Business Model – Slate
• A (very) short history of the idea of ending poverty – VoxEU
• Crowding-out bank loans: The effects of the Fed bond market stimulus on firms – VoxEU
• The Rogue Planets That Wander the Galaxy Alone – The Atlantic
• CBDC architectures, the financial system, and the central bank of the future – VoxEU
• Financial shock transmission in a production network – VoxEU
• Macro-financial crises: Impeding the rush for the exit – VoxEU
• Economics for the people – Aeon

The Rock

Dr No

You Only Live Twice

Diamonds are Forever

A Bridge Too Far

Indiana Jones and the Last Crusade

The Hunt for Red October

The Man Who Would be King

The Name of the Rose

The Untouchables

The Russia House

….Vale Sean Connery….