News: 2014-02-18

German house prices overheating, Bundesbank warns –

Salmond says Scotland will not share debt without share of pound –

Scotland’s future: state of denial | Editorial | Comment is free | The Guardian

Eurozone countries should form United States of Europe, says EC vice-president | World news | The Guardian

Australia is asleep at the wheel | Business Spectator

Guest post: Back to the future with Scottish currency | FT Alphaville

Top Two Gold Forecasters Remain Bearish After 2014 Rally – Bloomberg

“The two most-accurate gold forecasters are holding to their bearish forecasts for 2014 even after the metal posted its best start to a year since 1983. “

German Home Prices Rose Most in Decade on Cheap Finance – Bloomberg

“Germany’s housing rally is being driven by low borrowing costs and a shortage in big cities such as Berlin and Frankfurt, where construction lags behind demand. The Bundesbank said today that home prices in cities are about 25 percent overvalued, and the German government has proposed new laws to curb price and rent increases in an already tightly regulated market. “

Why You Spend More Hours at Work When Your Relationship Is Going Well – Andrew O’Connell – Harvard Business Review

The Vampire Squid Strikes Again: The Mega Banks’ Most Devious Scam Yet | Politics News | Rolling Stone

“Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever”

Enslave the robots and free the poor –

“The prospect of far better lives depends on how the gains are produced and distributed “

La banca afrontará el examen europeo con una morosidad récord del 13,6% | Economía | EL PAÍS

In Spain, the credit problems continue with 13.6% of loans troubled, a new record. Bad debt is at 197 billion euros, another record. Meanwhile credit is contracting, reaching 1.44 trillion euros, the lowest level since 2006

Größte Preisanstiege in Berlin, Hamburg, München: Rentner treiben Immobilienpreise –

Germany’s house prices have increased 25% in the big cities since 2010 because of low rates. If one looks at price to rent and price to income, Germany still looks OK. But the concern over rising prices in cities is mounting.

Euro-Krise : Spanien häuft so viele Schulden an wie nie zuvor – Nachrichten Wirtschaft – DIE WELT

“At the end of 2013, Spain’s government debt was up to 961.6 billion euros, 8.7% more than at the end of 2012.. That puts the level at 94.05% of GDP.

Überhitzungsgefahren: Bundesbank gibt Entwarnung bei Immobilien – Immobilien – Finanzen – Handelsblatt

In Germany, the Bundesbank is warning about an increase in house prices in major cities like Hamburg, Munich and Cologne. No one is talking about a bubble yet but there is concern about sustainability. “The most important reason for the high real estate demand is the extremely low level of interest rates. The average rate for housing construction sank to 2.75% in 2013, while the policy rate at the ECB is a record low 0.25%.

La actividad industrial cayó 1,5% en enero, según un estudio privado –

Industrial production in Argentina is now down 1.5% year on year through January. A fall in auto production was the main cause of the decline

Deutsche Infrastruktur braucht laut IW 120 Milliarden Euro – SPIEGEL ONLINE

According to a recent study, Germany needs to pay 120 billion euros over the next ten years to fix aging infrastructure like bridges and streets.

Turkey in eye of emerging market storm as everything goes wrong at once – Telegraph

BBC News – Venezuela president expels three US consular officials

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