Delusional Economics

129

Weekend Links 29th-30th November 2014

Global Macro / Markets: China overtakes Japan as world’s second-biggest stock market – JT The countries punished by an Opec-fuelled oil price rout – Telegraph Acting Collectively: A Better Way to Restructure Government Debt – IMF Direct Oil Seen in New Era as OPEC Won’t Yield to U.S. Shale – Bloomberg Americas: Why America Is

49

Weekend Links – 22nd – 23rd November 2014

  Global Macro / Markets: They go all in: China’s PBOC Cuts Interest Rates for First Time Since 2012 – Bloomberg Spice Island is a case study in debt traps – FT LEAKED: Internal Uber Deck Reveals Staggering Revenue And Growth Metrics – BI Americas: Obama’s huge new immigration plan, explained – Vox Obama unveils

200

Weekend Links 8th-9th Nov 2014

  Global Macro / Markets: Bitcoin Firm Head Charged in First-of-Kind Ponzi Case – Bloomberg Crude oil hasn’t bottomed yet, traders say – CNBC Fink Joins El-Erian Highlighting Downsides of Easy Central Banks– Bloomberg High-Speed Ad Traders Profit by Arbitraging Your Eyeballs – Bloomberg In case you weren’t convinced that precious metals were oversold.  –

131

Weekend Links 1st-2nd November 2014

Global Macro / Markets: Why Taxation Must Go Global – Wolfgang Schäuble Some countries getting killed by cheap oil – CNN Apologizing to Japan – Krugman. Big Banks Brace for Penalties in Probes – WSJ The case for corn.  – Andrew Thrasher Americas: Is Military Spending Driving U.S. GDP Growth? – WSJ The U.S. Shale

132

Weekend Links 25th-26th October 2014

Global Macro / Markets: Ten insane things people on Wall Street believe.  – The reformed broker Shanghai exchange ready for options rollout – FT Losses Jump at Amazon, as Investments Pile Up – NYT Americas: New Home Sales increased slightly to 467,000 Annual Rate in September – CalculatedRisk Weekly initial unemployment claims are sitting at

181

Weekend Links – 18th-19th October 2014

Global Macro / Markets: Markets are parched for liquidity despite flood of cash – FT Euro Economy’s Managers Aren’t Blinking in Market Rout – Bloomberg Saudi Arabia tests US ties with oil price – FT Beware of calls for QE4 Mohamed El-Erian Fears That Pimco and Other Big Firms Could Be Unable to Unload Risky

439

Weekend Links 11th-12th October 2014

Global Macro / Markets: Tapering is tightening? – FT Alphaville Here’s How Much Business S&P 500 Companies Generate Outside Of The US – BI Global shares hit six-month low as growth worries mount – Reuters U.S. Opposing China’s Answer to World Bank – NYT Americas: US and Turkey in diplomatic stand-off  – FT Former Fed

240

Weekend Links 4th-5th October 2014

Global Macro / Markets: Lagarde warns of ‘new mediocre’ era – FT Why the yield curve matters. – Reformed broker We are all foreasters, get over it.  – Prag Cap Well This Is Just Embarrassing For The Fed Haters – BI Americas: September employment report : 248,000 jobs, 5.9% unemployment rate – Calculated Risk and

172

Weekend Links – September 6th-7th 2014

Global Macro / Markets: BP Found Grossly Negligent in 2010 Spill; Fines May Rise – Bloomberg Nato leaders fail to agree spending targets – FT , but agree on a rapid reaction force – SCMP The other Ebola toll : African Economies – NYT Americas: US payroll climb 142,000, short of expectations – WSJ Pace

386

Weekend Links – August 30th-31st 2014

Global Macro / Markets: The Greater Depression – Brad Delong The stall-speed syndrome – Stephen Roach The Cause of Secular Stagnation? – Econbrowser Lending Club is NOT a bank.  – Matt Levine Ultra-Liquidity  – Piera Classic warning sounds for investors – FT.com Americas: GDP Expanded at 4.2% Rate in Second Quarter – WSJ Most Americans

285

Weekend Links 23rd-24th August 2014

Global Macro / Markets: Tech race fueld bitcoin mining bubble – FT ‘Robot Overlords’ Job-Stealing Exaggerated: Jackson Hole Paper – Bloomberg Natural gas to gasoline for $1/gallon – SFGate Central Bankers Wrestle With Easy Money -WSJ Developing Nations Anxiously Watch Fed at Jackson Hole – Foreign Policy How Significant is the BRICS New Development Bank?

229

Weekend Links – 16th-17th August 2014

Global Macro / Markets: Banking on the BRICS – Project Syndicate BHP Billiton to push ahead with demerger strategy – FT Coal stocks are showing signs of life.  – Affraid to trade Gold miners are holding their own.  Short side of long Secular stagnation: Facts, causes, and cures – Vox Americas: The working class is

222

Weekend Links – 9th-10th August 2014

Global Macro / Markets: Inequality Is a Drag – Krugman Long rallies make us forget the realities of corrections.  – Barry Ritholtz The case for a bottom in cotton.  – See it Market Junk-bond exodus accelerates – WSJ Americas: The Vulture: Chewing Argentina’s Living Corpse – Greg Palast. Banks Said to Be Arranging Argentine Debt

57

More Weekend Links 2nd-3rd August 2014

Global Macro / Markets: The Tale Of Two Middle Classes – Yale The iron index screen – FT S&P500 Index Posts Worst Fall Since April; Indexes Down for July – Reuters High yield bonds are now yielding more. – Bespoke How Do You Spell “Inflation Hawks on the Warpath?” ECI – Dean Baker. Americas: The

157

Weekend Links – July 26th-27th 2014

Global Macro / Markets: Signs of things to come – Economist I.M.F. Reduces Its Forecast For Global Growth in 2014 – AP Don’t Tell Anybody About This Story on HFT Power Jump Trading – Bloomberg Greenspan says bubbles can’t be stopped without ‘crunch’ – Market Watch Corporatism not capitalism is to blame for inequality – FT Amazon’s Ambitious

147

Weekend Links – July 19th-20th 2014

  Global Macro / Markets: Making macroprudential regulation operational – vox The Phillips Curve: Looking in All the Wrong Places – Thomas Palley Cochrane on Growth and Macro – Growth Economics Dalian iron ore falls over 2 pct on oversupply, weak property market – Reuters JPMorgan’s Dimon Gets $37 Million of Crisis-Era Options – Bloomberg

98

Weekend Links – July 5th – 6th 2014

  Global Macro / Markets: Austrian Economists, 9/11 Truthers and Brain Worms – Bloomberg Using happiness scales to inform policy: Strong words of caution – VoxEU Can mining companies survive US$90/t iron ore prices? – MineWeb Argentina bond investors challenge long arm of US law – FT Americas: The Government Once Built Silicon Valley –

76

Weekend Links 21st – 22nd June 2014

Global Macro / Markets: What Green Revolution? Coal Use Highest In 44 Years – OilPrice What Will Argentina Do With Its Vultures? – Bloomberg How to Lose a Billion Dollars in Hedge Funds – Barry Ritholtz The best U.S. stocks this month are ones that just a few months ago were the biggest losers –

109

Weekend Links 14th-15th June 2014

Global Macro / Markets: How to destroy the web of Debt – Golem XIV King’s College in New York to Accept Bitcoin – NYT The US recovery has been a disaster; the eurozone’s has been much worse – Vox Americas: U.S. retail sales miss expectations, jobless claims rise – Reuters Obama ‘urgently’ considering air assault

160

Weekend Links 24th-25th May 2014

Global Macro / Markets: Bitcoin shocker! – FT Why lower bond yields should lead to higher gold and silver prices.  – Market Anthropology 50 blogs every serious trader should read.  – TraderHQ North America: US House denies Pentagon funds to tackle climate change as security threat – RT ‘Tide is Turning’ as Oregon Voters Overwhelmingly

11

A beardove rises!

From Australia’s highest flying bullhawk today: Indeed it is time and I very much look forward to Kouk joining the beardove ranks. But, we should take a last look back at a soaring bullhawk before we move on. Kouk predictions 2014: As is normal at this time of the year, economists are pretty much compelled

69

Weekend Links – 10th-11th May 2014

Global Macro / Markets: Democracy, Oligarchy, and the Fractile Nature of Inequality – Pieria Omnicom, Publicis call off proposed $35 billion merger– Reuters Apple in talks for $3.2bn Beats deal – FT More signs the market is losing steam – Dynamic Hedge Hedge funds are not having a good year.  –  WSJ, Barry Ritholtz Anecdotal

162

Weekend Links 3rd – 4th May 2014

North America: April Employment Report: 288,000 Jobs, 6.3% Unemployment Rate – Calculated Risk Obama’s Secretive, Corporate-Run TPP Trade Deal Got Stuck – Testosterone Pit Yellen’s Fed Resigned to Diminished Growth Expectations – Bloomberg Europe: Euro Unemployment Holds Near Record Amid Factory Gains – Bloomberg Euro Area unemployment rate at 11.8% – Eurostat Eurozone manufacturing recovery broadens

99

Links – Anzac Day 2014

They went with songs to the battle, they were young. Straight of limb, true of eyes, steady and aglow. They were staunch to the end against odds uncounted, They fell with their faces to the foe. They shall grow not old, as we that are left grow old: Age shall not weary them, nor the

236

Weekend Links – 12th-13th April

Global Macro / Markets: Bitcoin Is Getting Smashed Right Now Business Insider JPMorgan Profit Falls 19% on Trading, Mortgage Declines – Bloomberg Why is Goldman shutting down Sigma X: SEC eyes test that may lead to shift away from ‘dark pools’ – Reuters Gross Says El-Erian Should Explain Reason for Exit – Bloomberg The best

116

Weekend Links 29th-30th March 2014

Global Macro / Markets: Bitcoin stumbles on fears of China clampdown -CNBC , Bloomberg Whoa Did Warren Buffett Get This Massively Important Prediction Wrong  – Matt Stoller , The Brooklyn Investor The top ten hedge funds by assets – CBNC Pimco Total Return Fund behind 87 percent of its peers so far this year –

123

Weekend Links 22nd-23rd March 2014

Apologies for the lateness… To the news… Global Macro / Markets: Mt Gox finds 200,000 Bitcoins in old wallet – FT , NYT The copper selloff has accelerated. –  The Short Side of Long Why Bloomberg’s terminal business is stagnating.  – Pando Daily How Do You Reign In High Speed Trading? – Points and Figures

287

Weekend Links March 1st-2nd 2014

Global Macro / Markets: RSA seeks to raise £775m with rights issue – Irish Times Japan says any bitcoin regulation should be international – Reuters Biggest Sovereign Fund Forced to Sell Stocks as Mandate Breached – Bloomberg Wall Street Hates JPMorgan Fee for $1 Trillion Junk Loans – Bloomberg Insight: Mt. Gox: a quick rise

102

Weekend Links – 22nd-23rd Februaury 2014

Global Macro / Markets: The sum of all tightenings – Barnejek’s blog Why Rational People Can’t Succeed as Economic Forecasters – HBR The pessimism on emerging markets is palpable.  – FT North America: U.S. companies ramp up capex as confidence grows – Reuters Existing Home Sales in January: 4.62 million SAAR, Inventory up 7.3% Year-over-year

158

Weekend Links 15-16th Feb 2014

Global Macro/ Markets: IMF Paper Refutes Rogoff, Reinhart Debt Study – WSJ Good luck picking winners in the emerging markets. – The Reformed Broker The real titans of finance are no longer in the banks  – FT Investing’s Biggest Irony: Everyone Thinks They’re a Contrarian – Fool Americas: Preliminary February Consumer Sentiment unchanged at 81.2