Valtion tulot-menot per asukas sekä työllisyysaste maakunnittain. Selkeä positiivinen korrelaatio - mitä korkeampi työllisyysaste, sen pienempi on valtion nettomeno maakuntaa kohti per asukas.
Havaintoja: ainoa positiivinen valtiolle on Uusimaa (oikeanpuoleisin piste), ja jostain syystä (raSSismi?) vasemmassa yläkulmassa oleva Ahvenanmaa on valtiolle iso rahareikä siitä huolimatta, että työllisyysaste on saarella erittäin korkea.
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W/E: Weekly Support (updated!)
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EUROPE
The euro zone needs a
history lesson – The
Economist
Thoughts on Euro's
Continued Resilience – Marc
to Market
Great Graphic:
Eurosystem's Excess Liquidity – Marc
to Market
IMF Warns 4 European
Nations Are "Potentially Destabilizing" To Global Economy – ZH
BANKING UNION
What the Asset
Quality Review is likely to find: Independent evidence – voxeu.org
European Bank
Resolution: don’t try this at home – Bruegel
ECB Waters Down 2014
Stress Tests Second Time; Yet Another Sham Stress Test – Mish’s
MACRO NUMBERS
UK jobless falling
faster than thought, to hit target early - poll – Reuters
UNITED STATES
FEDERAL RESERVE
FEDERAL RESERVE
Rev-repo rising – alphaville
/ FT
Credit Suisse: In our
view, the Fed needed to get some larger-scale tests under its belt to develop
full confidence in the program’s capacity for both policy makers and the
market. The year-end results seem to have delivered such a result.
Fed’s New Tools Also Work by Adjusting Rates – WSJ
Bernanke’s swan song: Fed chief reflects on the
tough job of communications – WaPo
Key Measures Shows
Low Inflation in December – Calculated
Risk
Central Station:
Economists See Steady Fed Taper This Year – WSJ
MACRO NUMBERS
Starts Plunge 9.8% As Housing Permits Miss By Most In 7 Months – ZH
Housing Starts at 999 Thousand Annual Rate in December – Calculated
Risk
Housing Starts and Building Permits Decline – Bespoke
December’s Housing & Industrial Reports Bring Mixed News – Capital
Spectator
Capacity Utilization Rises To 5Y High, Just How Much Slack Is There? – ZH
Fed: Industrial Production increased 0.3% in December – Calculated
Risk
U.S. industry shows
muscle in late 2013 – Reuters
Industrial production up 0.3 percent in December, exactly as expected – Handelsbanken
Consumer Confidence Slides, Misses By Most In 8 Years – ZH
Preliminary January Consumer Sentiment declines to 80.4 – Calculated
Risk
Michigan Sentiment Index
Decreased to 80.4 in January – BB
U.S. consumer sentiment
dips in January – Reuters
An environment of falling productivity has arisen in which local
authorities have had to plough ever-greater amounts of stimulus into their
economies to support growth, amid a lack of concrete structural reforms.
JPMorgan Sees Asian
Currencies Extending Rout on Economy – BB
Asian currencies are poised to extend declines amid concern an increase
in borrowing costs in China and a weakening yen
threaten economic growth in the region, JPMorgan Chase & Co. said.
BOJ Silence on Exit
Plan Stokes Concern as Prices Rise – BB
Inflation past halfway to 2 percent target, yields on 10-year government
securities are still the world’s lowest at 0.67 percent - held down by central
bank purchases of unprecedented scale. Even so, Kuroda, who meets with fellow
board members next week, says it’s “too early” to discuss an exit strategy.
BOJ Beat: Economists
Still Expect More Easing Action This Year – WSJ
OTHER
Emerging Markets
Briefer: January 2014 – Danske
Bank
EMEA Weekly – Danske
Bank
'The Potential
Effects of QE on Gross Financial Flows to Developing Countries' – Economist’s
View
Chartbook: look
beyond the ‘fragile five’ – beyondbrics
/ FT