Previously on MoreLiver’s:
Roundups &
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global
Macro Trading
The Closer – alphaville / FT
Tomorrow’s Tape: Jobless Claims, Consumer Credit – WSJ
US: Silver Surges As Dow Hits New-er Record – ZH
China's growth mix should also be seen
against a backdrop of longer-term change
EUROPE
European Crisis Over? Not So Fast – ZH
Eurozone Downturn Accelerates Despite German
Growth – Mish’s
Did OMTs Turn the ECB Into a Real Central Bank? – WSJ
There is a
tide in the affairs of central banking which, taken at the flood, leads on to
fortune, as Shakespeare almost said
Italy’s Democratic Party is struggling to
digest its surprisingly weak performance in Italy’s general election next month, and
the cacophony of proposals made at a senior leadership summit in Rome on Wednesday suggests its path from
here may be backwards.
Germany's
insistence on a narrow version of fiscal austerity is not in its own interest
as the European Union's largest economy needs strong neighbors to form an
"enlarged industrial cluster," Romano Prodi, the former European
Commission president, said in an interview Wednesday.
Governments
around Europe are having second thoughts about
sticking to plans to cut budget deficits in the face of rising unemployment,
but Irish prime Minister Enda Kenny Wednesday made it clear that his is not
among them.
The Current State of the Macro Policy
Debate – Brad
DeLong
Musings on
Paul Krugman vs. The Three Tweeters of Bruxelles
UNITED STATES
When the Fed fights, it wins – Free
exchange / The Economist
Fed Balance Sheet Risks – MacroMania
Fed's Beige Book – Calculated
Risk
Economic
activity expanded at "modest to moderate" pace
The Intellectual Argument For and Against Keynesian
Expansionary Fiscal Policy – Economist’s
View
ASIA
The
National Development and Reform Commission is the wheel around which the
Chinese domestic economy spins. That made the idiosyncratic planning at the
NDRC’s press conference at the National People's Congress on Wednesday all the
more puzzling.
OTHER
Three Unorthodox Views – Marc to
Market
Resilience
of the US economy, skepticism about the prospects of
Abenomics, currency Wars
The age of infinite equity? – alphaville
/ FT
Government
support for debt markets has gone about as far as it can. From here on the
scramble for a finite number of “safe” debt assets becomes self defeating on
account of negative rates and the zero bound. What you pick in safety you have
to pay for in negative yield. There are no safe debt assets anymore. Equity on
the other hand has no cap. It has infinite potential.
EM FX Monocle – Divergent paths – Nordea
(pdf)
or the summary.
Ray Dalio went into this year even more bullish
than we thought – Reuters
But after
taking my own recent look at Bridgewater’s year-end investor note–book is
probably a better description for the 300-page plus bound treatise–you realize
that bullish just doesn’t describe Bridgewater’s stance going in 2013.
IN FINNISH
Torakoita ja jälkiviisastelua: miksi Katainen
ja Rehn ovat päässeet helpolla?
– Heikki
Patomäki / US Puheenvuoro
Saariselän salakokous
keskustelee EU:n tulevaisuudesta – KU
Joukko Euroopan maiden ministereitä keskustelee Euroopan
tulevaisuudesta Inarin Saariselällä 22.–24. maaliskuuta.
Eurokriittiset puheet
voimistuvat Euroopassa – TalSa
Saksassa puuhataan eurovastaista puoluetta. Italiassa
esitetään kansanäänestystä eurosta. Taloustieteilijät varoittelevat
kriisinhoitotoimien epäonnistumisesta. Europäättäjien kannalta tilanne ei näytä
hyvältä.
Asuntomarkkinat
hiljentyneet talven aikana – piksu
Professorin
yllätysväite: Vientiongelmat johtuvat huonosta yritysjohdosta – YLE
Aalto-yliopiston taloustieteen professorin Pertti
Haaparannan mukaan Suomen kilpailukyky on yhä parhaimmalla tasollaan lähes 40
vuoteen. Vientituotteiden kysynnän heikentyminen johtuu Haaparannan mielestä
yritysjohdon virheistä ja surkeasta myyntiosaamisesta.