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Tuesday, October 22

22nd Oct - Tapering pushed to Spring 2014

Previously on MoreLiver’s:

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EU Lawmakers Reject Draghi Call for Bank Bondholder ClemencyBB

Europe’s Flight from FutilityProject Syndicate
In the coming decades, Europe’s share of the world population and global GDP is expected to fall considerably. To prevent inexorable decline, Europe must reach clear decisions in three crucial areas: how to pull the eurozone out of crisis, how much national sovereignty to cede to the EU, and how far to take enlargement.

2014 European elections: Europe’s economic elite backs the euroPresseurop
The anti-euro parties may be stronger than ever in the next European Parliament. But unless they start working together, they will not be able to backtrack on the single currency, brought in by the economic elites of Europe in the pursuit of their own joint interests.

Paper by EU Economist Backs Austerity’s CriticsWSJ
The mystery of EU economic study criticising BerlinBrussels blog / FT
Did tight-fisted budget policies in Germany help make the eurozone crisis deeper and more difficult for struggling bailout countries like Greece and Portugal? That appears to be the conclusions of a study by a top European Commission economist that was published online Monday – but then quickly taken down by EU officials.

Fed won't raise U.S. rates until well into 2015, traders betReuters
J.P. Morgan, Goldman See Fed Tapering Delayed Until SpringWSJ
When is the Fed going to taper QE? Probably not soon!WaPo

Worth The Wait?Tim Duy’s Fed Watch
Incoming data are not exactly consistent with the definition of "stronger and sustainable."  And even if the data shift upward in the next few months, it will take another three months to confirm that it is sustainable.  That pushes any decision on asset purchases out to March at the earliest.

Also see September employment report special – MoreLiver’s.

Construction Spending increased in August – Calculated Risk
U.S. construction spending approaches 4-1/2 year high – Reuters

Hidden debt must still be repaidmpettis

China’s Global War Against Press FreedomThe Diplomat

On niin raskastaKalle Isokallio / IL

USA:n velkakriisin paluu, osa I(K-18)Arvopaperi

HeSarin mukaan kriisimaat ovat jatkossa kilttejä – mutta ei ymmärrä mistä kehitys johtuuTyhmyri

Harmaa valtaSuomi 2017

Mitä kuuluu pankkiunionille?Henri Myllyniemi / Piksu