News: 2013-12-23

As usual, links do not equal endorsements. I add this disclaimer today because there are a number of links with views that I don’t espouse but I think are interesting nonetheless. Sometimes I post stuff just because I think it’s interesting and don’t really have a view yet.

I should also point out that the same is true about blog posts on this site. Unless I write it, I do not espouse it! Basically, I am the editor. And nothing gets on the site without my approval, but that doesn’t mean that all articles represent my own viewpoint. Rather, it means that these are views and analyses you need to read to get a fuller view of the economy and financial markets.

Lots of links today, so enjoy

Emerging Markets

Thailand opposition party to boycott election –

Turkey Will Either Lose Erdogan or Democracy – Bloomberg



No end in sight for bad-debt malaise at mainland Chinese banks | South China Morning Post

Russia ’98 Crisis Haunts Deutsche Bank’s Smith Seeing China Bust – Bloomberg

China liquidity crunch and stocks: batten down the hatches? | beyondbrics

China reveals Rmb300bn cash injection to calm lenders –

Worst Cash Crunch Since June Drives Chinese ADRs Slump – Bloomberg

China’s oil sands bet goes sour in Canada | South China Morning Post



Canadian Dollar Drops to 3-Year Low on Central-Bank Divergence – Bloomberg

German Yields Rise to Two-Month High as Fed Slows Bond Purchases – Bloomberg

Gold’s stunning decline puts it on track for biggest annual loss in 30 years | Financial Post

Distressed hedge funds were the best performing strategy of 2013

Goldman Sachs: Cut your emerging markets exposure a third

Boards with More Women Pay Less for Acquisitions – Sarah Green – Harvard Business Review

Even if Bitcoin fails, cryptocurrencies are here to stay | Financial Post

Into the Bitcoin Mines –

Will be bitcoin’s great liberator? –



Japan Unveils Record 2014 Budget Draft as Debt Burden Mounts – Bloomberg


North America

Worthwhile Canadian Initiative: Nominal interest rates, inflation, and central banks’ communications strategy

The Center of the Universe » Yes, the Fed can set mortgage rates if it wants to!

Central Station: For More Taper Hints, Watch Fed’s Forecasts – Real Time Economics – WSJ

Highlights from the Third-Quarter GDP Revision – Real Time Economics – WSJ

Where in the United States is median income growing?

macroblog: Labor Force Participation Rates Revisited

Without Unemployment Extension, Which States Would Be Hit Hardest? – Real Time Economics – WSJ

Yes Virginia, Obama and the Democrats Are Mussolini-Style Corporatists, Just Like the Republicans | naked capitalism

Obama Seen Rescued From ‘Terrible’ Year by Better Economy – Bloomberg

Econbrowser: U.S. tight oil production surging

BBC News – Mexican president signs controversial oil and gas law



Euro needs ground-up reform before any United States of Europe | Hans-Werner Sinn | Business |

An exercise in prolonging a banking credit crunch –

Armut in Deutschland nimmt weiter zu | DEUTSCHE MITTELSTANDS NACHRICHTEN

Poverty in Germany is increasing. Almost one-fifth of the German population is considered poor. Another 16% is considered vulnerable. | New poll gives SYRIZA clear lead over New Democracy | Winter home rates slump by over 50 percent



Inflation-beating savings accounts return to the market | Money | The Observer

House prices to rise 30pc in city shortfall –

Retailers cut prices deeply to beat Christmas chill –

House prices boom is fuelled by in-work poor | Money | The Guardian

Bank of England warning on housing bubble as prices rise – Telegraph

House prices down 5pc over ten years in real terms – Telegraph



Krugman on microfoundations — neither laws, nor true | LARS P. SYLL

Uber and the Macro Wars –

Microfounded DSGE models are not only unrealistic — they are also plainly wrong | LARS P. SYLL

EconoMonitor : Ed Dolan’s Econ Blog » Latest Economic Growth Data Give Cheer to Market Monetarists, or, What is the NGDP Gap and Why do we Care?



Google Bus Vandalized During Protest –



How to Get Your Kids to Go the F*** to Sleep: An Age-by-Age Guide

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