Gunnamatta

49

Links 3 August 2020

Macro & Markets US, China both lag badly in industrial robot race – Asia Times Global housing market chaos nowhere near end – Asia Times Central banks’ coronavirus bailouts are distorting the market, but do they even realise it? – SCMP WTO contender Amina Mohamed backs a new rule book in US-China trade war –

55

MB Radio: A podcast of gloomy disposition

  With the sheer enormity of the COVID19 pandemic’s economic impact only starting to dawn, David Llewellyn Smith and Leith Van Onselen spoke with Gunnamatta on the major forms the shock has taken through the Australian economy.  Over the course of about 75 minutes (3 parts) they cover the ugly numbers and the dynamics across

394

Sunday Supplement: 26 July 2020

‘Sunday Evening’ Russell Drysdale, 1951, Art Gallery of NSW   Macro & Markets No end in sight to the US-China confrontation – DW Apple tax ruling for Ireland shines light on global tax avoidance – DW OK Boomer, We’re Gonna Socialize You – Bloomberg US dollar at risk of sudden collapse? Ex-IMF official warns ‘blow-up

285

Sunday Supplement: 19 July 2020

‘Mount Nameless (afternoon)’ 1981, Fred Williams, National Gallery of Victoria   Macro & Markets G20, Heal Thyself – Project-Syndicate, Sachs Coronavirus latest: WHO says health workers account for 10% of global infections – DW World faces staggering jobs challenge, says Microsoft president – BBC…a quarter of a billion jobs equals an awfully large number of

349

Sunday Supplement: 12 July 2020

‘Sheep Country, Burra’, Douglas Dundas, 1950, Art Gallery of NSW   Macro & Markets Trump says U.S.-China relationship is ‘severely damaged,’ phase 2 trade deal not a priority – CNBC WHO says it’s ‘very unlikely’ countries can eradicate the coronavirus right now – CNBC Donald Trump hints lack of interest in a phase two US-China

268

Sunday Supplement: 5 July 2020

‘Valley of Tharwa, Murrumbidgee’, J.R. Jackson, 1925, National Gallery of Victoria   Macro & Markets Big Oil’s Nightmare Is Coming True – OilPrice A $10 Trillion Fed Balance Sheet Is Coming – Bloomberg $10bn of precious metals dumped each year in electronic waste, says UN – Guardian Three strikes against the Fed – VoxEU, Buiter

53

The ‘Population Ponzi’ – Employment, Migrants, Incomes and Manufacturing & Australia’s lost Economic narrative

In the 1950s and 60s Australia had a policy of supporting manufacturing development in Australia, and its capacity to absorb large numbers migrants largely reflected its industry protection. Given the operation of the then Industrial Relations Commission, those industries tended to have remuneration outcomes which enabled both the migrants coming to Australia, and the pre

236

Sunday Supplement: 28 June 2020

‘Our untidy bush’ Arthur Streeton, 1927, National Gallery of Victoria   Macro & Markets US imposes visa restrictions on Chinese officials over Hong Kong security law – BBC Facebook will label newsworthy posts that break rules as ad boycott widens – Reuters Fed acts to keep banks ‘prudent’ amid virus risks – BBC Communication power

313

Sunday Supplement: 21 June 2020

  ‘Cattle on Hillside, Shoalhaven’, Arthur Boyd, 1975, Art Gallery of NSW   Macro & Markets Don’t Blame the Fed for the Robinhood Trading Blitz – Bloomberg New US space strategy targets Russia and China – Deutsche Welle H.O. Warns of ‘Dangerous Phase’ of Pandemic as Outbreaks Widen –  NY Times The Rage Unifying Boomers

531

Weekend Links 13-14 June, 2020

Arkaroola Landscape, Elisabeth Cummings, 1994, Art Gallery of NSW   Macro & Markets Sex Pistols-style anarchy threatens world economy – AsiaTimes Eight minutes that could change the world – AsiaTimes What US-China decoupling does and doesn’t mean – AsiaTimes Is Libya the new Syria? – BNE Intellinews How the protests swept the world – New

312

Sunday Supplement: 31 May, 2020

  Albert Tucker, ‘Image of modern evil’, 1945, National Gallery of Victoria     Macro & Markets China debt: bond problems could still resurface in 2020 after defaults amid coronavirus lower than expected – SCMP The Great Depression, coronavirus style – AsiaTimes Donald Trump says the US is ‘terminating’ its relationship with the World Health

329

Sunday Supplement: 24 May, 2020

Pivot Suspension, Rupert Boynes, 1966, Art Gallery of NSW   Macro & Markets Leading economist warns of 10 years of depression and debt – BBC (Roubini) China Tests Global Diplomacy and Economy – Bloomberg, El-Erian Central banks are creating ‘fake markets,’ Bank of America strategists say – CNBC Trade conflict in the age of Covid-19

256

Sunday Supplement: 17 May 2020

‘Ringbarked Trees with Birds’, Henri Bastin, 1969, Art Gallery of NSW   Macro & Markets Pandemic Bills Are So Big That Only Money-Printing Can Pay Them – Bloomberg US could cut ties with China over coronavirus, ‘save $500 billion’: Trump – DW Thermal coal spot price tumbles 25 per cent, putting pressure on some producers

402

Sunday Supplement: 10 May 2020

Street in Old Sydney, 1889, Godfrey Rivers, Art Gallery of NSW   Macro & Markets Keeping Up with the Fed – Project-Syndicate China and US must cooperate to lead world out of coronavirus danger – Nikkei Asian Review Trump Casts Doubt on Future of China Trade Deal After Phone Call – Bloomberg IMF warns of

351

Sunday Supplement: 3 May 2020

‘The schooner ‘Miena’ refitting at Townsville’, 1954, Donald Friend, Art Gallery of NSW   Global Macro & Markets Coronavirus pandemic exposes fatal flaws of the ‘just-in-time’ economy– ABC, Long…good read… Oil’s Collapse Is a Geopolitical Reset In Disguise – Bloomberg Ten reasons why a ‘Greater Depression’ for the 2020s is inevitable – Guardian, Roubini Trump

433

Sunday Supplement: 26 April 2020

Embarkation, 1994, Fred Cress, Art Gallery of NSW   Macro & Markets WHO row between US, China sees G20 leaders summit called off at last minute, source says – SCMP Coronavirus: China rejects call for probe into origins of disease – BBC Is Persian Gulf heading toward a new confrontation? – DW How coronavirus exposed

526

Sunday Supplement: 19 April 2020

‘Evening, St Kilda Road’, Circa 1930, Clarice Beckett, Art Gallery of NSW   Macro & Markets The Road to Reopening the Economy Is Still Long – Bloomberg The WHO’s coronavirus response shows that the organisation is broken, but fixing it must wait – SCMP Asian LNG prices sink again as coronavirus disrupts demand – Reuters

408

Easter Sunday Supplement: 12 April 2020

‘Still glides the stream, and shall for ever glide’, 1890, Arthur Streeton, Art Gallery of NSW   Macro & Markets The perils of more debt – Bruegel Shockwave: Adam Tooze on the pandemic’s consequences for the world economy – London Review of Books Monetisation: Do not panic – VoxEU, Blanchard, Pisani-Ferry OPEC’s Plan To Take Over

565

Easter Saturday Supplement: 11 April 2020

The Great Rock: Dusk, 1977 Lloyd Rees, Art Gallery of NSW   Macro & Markets How the Pandemic Wiped Out Oil Demand Around the World – Bloomberg Saudi-Russia Oil Deal Under Threat as Mexico Walks Out of OPEC+ Talks – Bloomberg Coronavirus: Worst economic crisis since 1930s depression, IMF says – BBC It’s Getting a

615

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

958

Sunday Supplement: 29 March, 2020

Tom Roberts, Shearing the Rams, 1890, National Gallery of Victoria   Macro & Markets Petrostates Hammered by Oil Price Plunge and Pandemic’s Spread – Bloomberg Coronavirus and the economy: World ‘clearly’ in recession, IMF says – DW The world’s on the brink of running out of places to put oil – Financial Post Global oil

832

Sunday Supplement: 22 March, 2020

A surplus of optics, Bridgid McLean, 1976, Art Gallery of NSW    Macro & Markets Fed Going All In to Save Economy. Here’s What Could Come Next – Bloomberg The Most Realistic Economic Forecast Is Awful – Bloomberg, Kocherlakota When the Ice Melts, the Bears Have to Move – Bloomberg Authers Universal Basic Income is

635

Sunday Supplement: 15 March 2020

Isolation, Tim Storrier, 1978, Art Gallery of NSW   Markets & Macro The Federal Reserve Needs to Cut Rates to Zero Now – Bloomberg, Duy Bond Market Mayhem Lives On in These 10 Charts – Bloomberg The cost of coronavirus in terms of interrupted global value chains – Bruegel Three macroeconomic issues and Covid-19 –

632

Sunday Supplement: 8 March 2020

Through the gum trees, Toongabbie, Hilda Rix Nicholas, 1920, Art Gallery of NSW   Markets & Macro Will the new coronavirus spell the end of globalization? – DW, Bohme Vital Signs: Australian and US rate cuts underline seriousness of the coronavirus crisis – The Conversation Spiraling Virus Fears Are Causing Financial Carnage – NY Times Oil

467

Sunday Links: 1 March 2020

A Woolshed, Victoria, 1889, John Mather, Art Gallery of NSW   Macro & Markets Coronavirus contagion spawns climate of panic on share markets – ABC, Verrender Central banks may mount a coronavirus rescue. It may not be enough – Reuters From the Fed to Bank of England, central banks must up their game – Guardian

262

Sunday Supplement: February 23 2020

Toy boys, 1990, Geoffrey Ricardo, Art Gallery of NSW   Macro & Markets In next downturn, Fed may opt for quick, strong action – Reuters The World’s Biggest Economies Get a Jolt of Government Spending – Bloomberg If slowing growth, unsound financial systems and the coronavirus don’t trigger a market meltdown, central banks will –

178

Sunday Supplementary Links – 16 February 2020

Australian Head, to do with the blue, Michael Ramsden, 1974-79, Art Gallery of NSW   Macro & Markets Funds Face Trillion-Dollar Hit on Negative-Yielding Debt Pile – Bloomberg The World Is Conspiring to Make Gas Cheaper – Bloomberg…except in Australia… Coronavirus likely to infect the global economy – Harvard Gazette ‘Black swan’ coronavirus casts its

377

Australia Day supplementary links January 26 – 27, 2020

Miss Australia, 1975, Martin Sharp, Art Gallery of NSW   Macro & Markets Why the coronavirus outbreak could trigger a stock-market pullback – MarketWatch Scientist who simulated the global impact of a coronavirus outbreak says ‘the cat’s already out of the bag’ and calls China’s efforts to contain the disease ‘unlikely to be effective’ –

524

Weekend Links, 4-5 January, 2020

Golden Summer, Clarendon, John Olsen, 1983, Art Gallery of NSW   Macro & Markets These 6 charts compare the US and China economies in the second year of their trade war – CNBC Vietnam and Asia neighbors hungry for cheap coal – Nikkei Economic ‘Doom Loops’ Get Harder to Avoid in 2020s – Bloomberg Killing