Google Analytics

Thursday, December 5

5th Dec - ECB sits, payrolls next

Previously on MoreLiver’s:

Follow ‘MoreLiver’ on Twitter or Facebook

Europe repeating all the errors of Japan as deflation draws closer The Telegraph
The whole eurozone must have a higher inflation rate to lift the South far enough above the deflation line to gain breathing room

What is Wrong with the EU?F. Saraceno
Eurostat just released the 2012 figures for poverty and social exclusion in the EU. The numbers are terrifying.

Americanized Labor Policy Is Spreading in EuropeNYT
This is what is known in Europe as “internal devaluation.”

Euro zone likely to backstop banks with promises rather than cashReuters
A Reuters survey of euro zone backstops showed very few governments have any money earmarked for such a purpose. If called upon, they would have to prop up their lenders with bonds or guarantees rather than cash.

The German ScapegoatProject Syndicate
Recent criticism of Germany's external surplus overlooks the fact that the country represents just the tip of a Teutonic iceberg: All northern European countries with a Germanic language are running a current-account surplus. Indeed, the Netherlands, Switzerland, Sweden, and Norway are all running larger surpluses relative to GDP.

Germany’s economy isn’t as strong as Europe believesMarketwatch
Merkel will most likely preside over Germany in a “grand coalition” with opposition parties. But this time around she may have been handed a poisoned political chalice. Germany faces significant economic challenges and risks, and its economic power and financial strength may be overstated.

The ECB’s big momentBruegel
…and the gradually apparent risks and opportunities of bank supervision

The 8 things you need to know about the Autumn Statement Money Supply / FT

BOE Keeps Rate at Record Low as Osborne Raises ForecastsBB

The Volcker Rule: From Idea to Implementation (Almost)WSJ
U.S. Regulators are expected to vote next week on a toughened version of the Volcker rule, a long-awaited provision of the Dodd-Frank financial law of 2010. The rule, named after former Federal Reserve Chairman Paul Volcker, is designed to make banks less risky by limiting its trading. Here is a look at the rule’s nearly five-year evolution from idea to reality.

Ahead of the Employment ReportTim Duy’s Fed Watch
With the fiscal shutdown in the rear-view mirror, Fed officials are turning their attention back to policy normalization.   They want to taper, but remain wary of pulling the trigger on tapering too quickly…one can make a reasonably solid argument for tapering if the November employment report adds to the recent string of 200k+ payroll gains.  My expectation is that even a positive report will not trigger a taper with month; instead, the statement is most likely to evolve to reflect a new emphasis on forward guidance.  But I can't rule out a tapering surprise.

Four Things to Know Before the Jobs ReportWSJ
The job market is picking up, but let’s not get carried away * It’s not just about jobs — it’s about how much those jobs pay * It’s the economy, stupid. * Fed, Fed, Fed.

GDP Soars To 3.6% On Inventories; Consumption Contribution Lowest Since 2009 – ZH
Economists React: ‘No Momentum’ in GDP Report – WSJ
Markets Drop on Stronger GDP Print; Break Out Your Taper Meters – WSJ
GDP Q3 Second Estimate Rises to 3.6% - dshort
Inventory Hoarding Accounts For Nearly 60% Of GDP Increase In Past Year – ZH
The economy grew 3.6 percent last quarter. Put away the Champagne – WaPo
US third quarter GDP: ‘all hat and no cattle’ – Reuters
Upbeat U.S. data points to growth momentum – Reuters
Economy in U.S. Grows at 3.6% Rate on Bigger Inventories – BB
Initial Claims Tumble To 298K As BLS Warns Of "Holiday Volatility" – ZH

Real GDP Per Capita: Another Perspective on the Economy – dshort
Comments on Q3 GDP and Investment – Calculated Risk

Leading Japan Economist Says Abe On Right Track, But BOJ a RiskWSJ

EMEA WeeklyDanske Bank

Irlannin kauppataseen sisällä elää kelttiläinen yllätysTyhmyri
Keksittyä palveluvientiä eli Irlanti vielä kaukana toipumisesta

Elvytys, setelirahoitus, talouskuri ja leikkausohjelmat - umpikujan monet nimetHenri Myllyniemi / US

Tulossa yritysten julkinen verovelkarekisteriVerkkouutiset

Kymmenen syytä, miksi AY-liikkeisiin ei kannata liittyä!Matias Härkönen / US

Huomasitko, että Suomi muuttui? "Palkkaratkaisusta neuvotellaan ensisijaisesti yritystasolla"TE

Katainen: Suomi ei lähde rikkomaan EU:n talouskuriaVerkkouutiset