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Thursday, August 15

15th Aug - US Close

Previously on MoreLiver’s:

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Roundups & Commentary
Markets – Between The Hedges
The Closer – alphaville / FT
US: Stocks, Dollar Plunge While Precious Metals Surge– ZH

German Campaign Beginning in EarnestMarc to Market

How long can Draghi’s bond-buying bluff hold?Fidelity
If Draghi is out of surprises, he can be thanked for buying time for politicians to come up with durable solutions to the eurozone’s woes. Oh, that’s another flaw with Draghi’s scheme; it removed the pressure for politicians to act. So they haven’t. 

Europe may still be ‘on path for a meltdown’: former Obama adviserMacroscope / Reuters
Either northern euro/Germany says they are willing to subsidize permanently to hold together or I think there is a crisis every nine months until someone says they can’t take it and bail.

A new UK housing bubble? Macroscope / Reuters
No, it’s just the old one being pumped up again

Fall Tapering in the AirTim Duy’s Fed Watch
The realization continues to grow that whether it is September or October or December, the end of asset purchases is now in sight. 

Five facts about household debt in the United StatesWonkblog / WP
Mortgage debt is where the action is * All is not well with student loans * The swings are biggest in the bubble states * Some, but not all, the bubble states are leading the pack on delinquencies.

Fed's Bullard says sees no sign of major asset bubble in U.S.Reuters

Five lesser-known facts about Yellen and SummersMacroscope / Reuters

Consumer Prices in U.S. Increase, Supporting Fed Forecast – BB
Jobless Claims Beat Consensus, Lowest Since October 2007 – dshort
Jobless Claims in U.S. Decline To Lowest Level Since 2007 – BB
Consumer Comfort in U.S. Drops From More Than Five-Year High – BB
Industrial Production in U.S. Was Unchanged in July, Fed Says – BB
Fed: Industrial Production unchanged in July – Calculated Risk
Industrial Production Misses For 4th Month In A Row – ZH
U.S. industrial output unchanged in July – Reuters

U.S. jobs, inflation data support tapering of Fed bond buying – Reuters
CPI, Initial Claims And Empire Manufacturing All In Line – ZH

China’s Reform AnxietyProject Syndicate
China’s leaders seem to understand what is wrong with their country's economy. But, despite well-intentioned statements and narrow gestures, they have yet to establish a concrete, bold reform strategy capable of resolving the economy’s deep-rooted structural problems.

From CAPE to CAPELong Short / FT
One of the biggest areas of controversy over CAPEs or cyclically adjusted price/earnings multiples concerns exactly how earnings are measured, and how they can be compared over time.

The history of the robot future’s future historyalphaville / FT
The graph represents three decades of US middle class employment shrinking as a share of the employed labour force

Emerging markets feel the taperSober Look
It is becoming clear to investors that some of the strength in emerging markets in recent years was induced by the Federal Reserve's policy of monetary expansion. And now it's time to face reality.

EMEA WeeklyDanske Bank (pdf)

Björn Wahlroos: Kapitalismi on ainoa mahdollinen talousjärjestelmäVerkkouutiset

Kansalaisaloite pakkoruotsista luopumiseksiHalla-Aho

Suomi on surkeassa jamassa - rakenneuudistukset valmisteluunVerkkouutiset
Suomen talous ja etenkin vientiteollisuus on joutunut jamaan, jota ei voi enää selittää suhdanteilla. Rakenneuudistukset ovat välttämättömiä, arvioitiin kokoomuksen ministeriryhmän kesäkokouksessa Kuopiossa.