Links

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Easter Long Weekend Links: 19-22 April 2019

  Global Macro / Markets / Investing: Mapping the Global Migration of Millionaires – Visual Capitalist China and Russia Buy Gold as US Keeps Gold Prices Artificially Low – Bunker Basics The Bank of England gives a masterclass on the “very real” risks of climate change – Qz Will we survive the next financial crisis? – Politico Belarus President

18

Links 18 April 2019

  Global Macro / Markets / Investing: Plummeting battery prices to make electric cars cheaper than gas cars in 3 years – Think Progress Price of Gold Fundamental Daily Forecast – Lower for the Year, Vulnerable to Steep $15 – $20 Break – FX Empire Middle class struggles are now threatening the global economy –

20

Links 17 April 2019

Global Macro / Markets / Investing: Goldman Sachs CEO David Solomon slashes pay for his employees as revenue drops – CNBC Plug-in electric car ownership up 76% in 2018 – Fleet News Goldman Sachs Quarterly Profit Falls 20 percent – Reuters Huawei is ‘open’ to selling 5G chips to Apple for iPhones, marking a big

28

Links 16 April 2019

Global Macro / Markets / Investing: The mountain of corporate debt will be the seed of the next financial crisis – Cadtm Regulations Needed After Cryptocurrency CEO Takes Passwords To Grave – Ponderwall Is Green Growth Possible? – Ineteconomics Selling with the enemy: Why rival retailers embrace Amazon.com – Japan Today Ethereum set a course

35

Links 15 April 2019

Global Macro / Markets / Investing: Research Study on Ongoing Crime Spree by Wall Street Mega Banks Gets News Blackout: Here’s Why – Blacklist News Risk of earnings recession rises, as S&P 500 profits to fall for first time in 3 years – MarketWatch The Leader of the World’s Largest Hedge Fund Says the Economic

344

Weekend Reading: 13-14 April 2019

Global Macro / Markets / Investing: Shadow banking is now a $52 trillion industry, posing a big risk to the financial system – CNBC World Bank President David Malpass says there is too much debt in the world – CNBC Derivatives still pose threat to the financial system – Live Mint Income Is Determined by the Scarcity of

23

Links 12 April 2019

Global Macro / Markets / Investing: The Problem With Putting a Price on the End of the World – NY Times Oil and gas ‘could lose 95% of its value’ by 2050, consultancy warns – FN London Can we use physics to forecast long run global economic growth? – Nephologue Investors Should Worry If Climate

19

Links 11 April 2019

Global Macro / Markets / Investing: Nobody on Wall Street seems afraid. Here’s why that’s scary – CNN A ‘wealth tax’ presents a revenue estimation puzzle – Washington Post College Grads Sell Stakes in Themselves to Wall Street – Bloomberg Global Growth Forecasts Shift Downward—What’s Behind the Numbers and Why It Matters – Econ Browser

9

Links 10 April 2019

Global Macro / Markets / Investing: Ray Dalio says wealth inequality is a national emergency – CBS News Davos panel on inequality becomes discussion about the very rich ‘paying their fair share’. – Infadium Top Candidate to Lead the Bank of England Explains Why Capitalism May Not Survive the 21st Century – Hidden Forces Sony

38

Links 9 April 2019

Global Macro / Markets / Investing: The Stock Market Has Been On One Of Its Strongest Runs In Two Decades, But A Looming Pullback In Earnings Poses A Threat To Its Rise – Stock Market News Fiat Chrysler to pay Tesla hundreds of millions of euros to pool fleet – Reuters The flat truth on

15

Links 8 April 2019

Global Macro / Markets / Investing: Lyft is threatening litigation against Morgan Stanley, accusing the firm of supporting short-selling – CNBC In the past 8 years more than 1/3 Cryptocurrency Exchanges have been ‘hacked’ with losses totalling over $1 Billion USD. – Powder Wall The World Economy Is A Pyramid Scheme, Steven Chu Says –

455

Weekend Reading: 6-7 April 2019

Global Macro / Markets / Investing: Watch Jamie Dimon speak about JP Morgan’s global strategy and the state of the economy – CNBC Why Rent Control Doesn’t Work – Freakonomics Radio The Dow Rose 167 Points on Hopes Trump and Xi Can Cut a Deal – Barron’s Governments could save $1 trillion in taxes by

36

Links 5 April 2019

Global Macro / Markets / Investing: Saudi Arabia’s biggest oil field is fading faster than anyone guessed – The Star Phoenix Africa Growth at 7-Year High, No Thanks to Its Major Economies – Bloomberg Remittance flows worldwide in 2017 – Pew Global Shipping data signals weakness in global economy – Euro News The Decade of

16

Links 4 April 2019

Global Macro / Markets / Investing: Why Investors Keep Coming Back to Hedge Funds – Institutional Investor Global Private Equity Report 2019 – Bain & Company Lagarde: Global economy is in ‘a delicate moment’ and ‘losing momentum’ – CNBC Bitcoin’s Value Suddenly Surged, But Nobody’s Really Sure Why – Time Trade slowed in fourth quarter,

10

Links 3 April 2019

Global Macro / Markets / Investing: On-Demand Startups Are Hemorrhaging Tens of Billions a Year – Bloomberg BIS: Why does financial sector growth crowd out real economic growth? – BIS Is modern monetary theory nutty or essential? – The Economist Why Are Economists Giving Piketty the Cold Shoulder? – Boston Review Americas: Retail Layoffs Are

15

Links 2 April 2019

Global Macro / Markets / Investing: Trend-Following CTAs vs Alternative Risk-Premia – The Hedge Fund Journal He Was Once a Macro God. Now Alan Howard Wants to Be More Than That. – Institutional Investor Uber to Seal $3.1 Billion Deal to Buy Careem This Week – Bloomberg Tesla analyst cuts Model 3 forecast, now sees

19

Links 1 April 2019

Global Macro / Markets / Investing: Mark Zuckerberg: The Internet needs new rules. Let’s start in these four areas. – Washington Post The Incredible Shrinking Trump Boom – NY Times Modern Monetary Theory Makes Sense, Up to a Point – NY Times The Revolution Need Not Be Automated – Project Syndicate Largest Cuts to S&P

364

Weekend Links, 30-31 March, 2019

The great rock: dusk, Lloyd Rees, 1977, Art Gallery of NSW     Macro, Markets & Investing U.S., China resume trade talks in Beijing after ‘productive working dinner’ – Reuters US economic adviser hints at partial lifting of China tariffs – Nikkei Asian Review Brazil’s Vale slashes iron ore sales estimate after dam burst –

47

CoreLogic weekly Australian house price update: Free fall

By Leith van Onselen In the week ended 28 March 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.24%: Values fell across all major markets except Adelaide: So far in March, dwelling values have fallen by 0.75%, driven by Sydney and Melbourne: The quarterly decline

14

Links 29 March 2019

Global Macro / Markets / Investing: Investors Scramble for Liras as Turkish Swap Rates Touch 1,000% – Bloomberg The Missing Link: Monetary Policy and The Labor Share – Bank Underground Nearly all Bitcoin trades are fake, apparently – Tech Review Americas: President Donald J. Trump Is Reforming the Housing Finance System to Help Americans Who

22

Links 28 March 2019

Global Macro / Markets / Investing: Wall Street braced for ‘earnings recession’ as margins fall – FT Bank of America tech chief is skeptical on blockchain even though BofA has the most patents for it – CNBC Google funds creation of new local media companies – Axios Battery Power’s Latest Plunge in Costs Threatens Coal,

17

Links 27 March 2019

Global Macro / Markets / Investing: Why Does Everyone Hate MMT – GMO Yellen Says She’s ‘Not a Fan of MMT’ as List of Detractors Grows – Bloomberg Apple’s Reinvention as a Services Company Starts for Real Monday – Bloomberg Thinning Liquidity in Key Futures Market Worries Traders – WSJ Low Interest Rates Might Be

19

Links 26 March 2019

Global Macro / Markets / Investing: Man stole $122m from Facebook and Google by sending them random bills, which the companies dutifully paid – sniply The Credit-Card Kingmaker – WSJ With the iPhone Sputtering, Apple Bets Its Future on TV and News – WSJ How Often Is It a Stock-Picker’s Market? – A Wealth of

10

Links 25 March 2019

Global Macro / Markets / Investing: How Your Kids Can Ruin Your Retirement – Barron’s Most Bitcoin Trading Faked by Unregulated Exchanges, Study Finds – WSJ Owning a Car Will Soon Be as Quaint as Owning a Horse – NY Times The Debt Crisis Is Coming Soon – WSJ Majority of bitcoin trading is a

316

Weekend Reading: 23 March 2019

Global Macro / Markets / Investing: A Beginner’s Guide to MMT – Bloomberg The Big Short’s Steve Eisman raises bets against Canadian banks – FT Debunking the Capitalist Cowboy – Boston Review A Central Banking Domino Effect Is in Motion – WSJ Americas: How Trump is on track for a 2020 landslide – Politico GOP

13

Links 22 March 2019

Global Macro / Markets / Investing: Gates Joins Bezos as the Only Two Members of the $100 Billion Club – Bloomberg Condemned to Repeat the History of Bank Failures? – NY Times Inside Airbnb’s ’Guerrilla War’ Against Local Governments – Wired Why further financial crises are inevitable – FT When the U.S. falls into a

15

Links 21 March 2019

Global Macro / Markets / Investing: Why further financial crises are inevitable – FT Bitcoin Is in the Dumps, Spreading Gloom Over Crypto World – WSJ How to tax the rich, explained – VOX Vitol warns oil demand to peak within 15 years – FT Forget Tesla, It’s China’s E-Buses That Are Denting Oil Demand

24

Links 20 March 2019

Global Macro / Markets / Investing: Turns Out That Trillion-Dollar Bailout Was, in Fact, Real – Rolling Stone Wall Street’s Latest Love Affair With Risky Repackaged Debt – NY Times Tesla is asking employees to volunteer and help deliver 30,000 cars before the end of the quarter – Business Insider At Hedge Fund That Owns

30

Links 19 March 2019

Global Macro / Markets / Investing: Looking for Hope in the Rubble of Value Investing – WSJ Emerging Markets Aren’t Out of the Woods Yet – Foreign Affairs What’s Wrong with Contemporary Capitalism? – Project Syndicate JPMorgan Sees Lower Need for Hedges Amid Volatility Bear Market – Bloomberg How Parents Are Robbing Their Children of

22

Links 18 March 2019

Global Macro / Markets / Investing: Blockchain Will Be Most of the Economy in 10-20 Years – Coin Desk Warren Buffett Is No Fan of Modern Monetary Theory – Bloomberg The Hidden Risk When You Own Stocks for the Long Run – WSJ What’s wrong with the WTO’s Environmental Goods Agreement – VOX The Twenty