Stuff Reynard the Fox found interesting today.
Global macro:
- Time to buy commodities? Zero Hedge
- Th subpriming of commodities. Alphaville
United States:
- House prices rise in March. Calculated Risk
Europe:
Advertisement
- Credit risk surges. Zero Hedge
- Spain to spend billions on rescue. FT
- Strong numbers but German risks remain. Sober Look
Budgetmania
Coverage is fascinating. Reflecting their different audiences, the Fairfax dailies basically like the Budget. The AFR offers a hate campaign, perhaps owing to the orientations of its new editor, Michael Stutchbury. It’s not clear to me why being pro-business requires being anti everything else. Meanwhile, Stutch’s old paper, The Australian, has offered the best coverage, striking a reasonable balance between national and sectional interests. Business Spectator has its usual mix of good snapshots and hysteria. I have bolded those articles that are worth reading.
My own view is that this looks like Swan’s best Budget for three reasons:
- first, it has not overdone austerity, raising the hope that its forecasts might be reached
- it’s projections are more realistic, even if still too optimistic
- who can blame Labor for a Labor Budget? It is good to see some old fashioned class warfare. I may not be on the right side of it but I can respect an enemy that has the cojonies to deliver on its values
On with the show.
Fairfax dailies:
- Cash splash to calm carbon fears. Phillip Coorey, Michele Grattan
- It’s tough at the top, but you win some you lose some. Ross Gittins
- Gillard’s great big plea for forgiveness. Peter Hartcher
- Benefits boost. Adele Horin
- Big Budget on class warfare. Adele Ferguson
- The Budget and you. Lisa Cox
- Swan’s skinny surplus. Peter Martin
- Budget gifts mining boom to families. Jessica Wright
- Banks hit by loss of tax break on deposits. Eric Johnston
- Short term plan for dire times. Lenore Taylor
- Set for an election. Michael Gordon
- What Swan didn’t say. Malcolm Maiden
- Politics has intervened. Tim Colebatch
AFR:
- Retailers and gamblers win. Chanticleer
- So do families and Labor. Laura Tingle
- Success hinges on rate cuts. Jacob Greber
- Families dudded. Fleur Anderson
- High earners dudded. Sally Patten
- Corporate Australia dudded. John Kehoe
- Business dudded. Jennifer Hewitt
- Savers dudded. John Kehoe
- Executives dudded. Katie Walsh
- Everyone dudded. Katie Walsh
- Economy and surplus dudded. Alan Mitchell
- Transparency dudded. Fleur Anderson
- Super lobby dudded. John Wasiliev
- Struggling sectors dudded. Matthew Dunckley
- Those that weren’t dudded, dudded. Matthew Dunckley
Business Spectator:
- Big taxing, big spending vote grab. Alan Kohler
- Ripping into middle Australia. Gotti
- Taxing high flyers. Karen Maley
- Carbon bonanza. Rob Burgess
- CAD trap. Karen Maley
- MRRT failure. Rob Burgess
- Battler’s Budget won’t hurt legacy. Bernard Keen
- Swan’s SME tax trick. James Thomson
- Productivity push. Somebody
The Australian
- Corporates on Labor’s hit list. Damon Kitney
- Treasury admits past mistakes. David Uren
- Cash splash takes us back to stimulus levels. George Megalogenis
- Smash the rich, save the base. Matthew Franklin
- Stick to your goal even as posts keep moving. Tom Dusevic
- Treasurer matches PM’s breach of faith. Dennis Shanahan
- Swan’s making a values judgement Paul Kelly
- Many a slip between cup and lip. Judith Sloan
- Masterclass in political money management. Peter van Onselen
- Investors dodged a few bullets. Andrew Main
- Miner’s angry. Sarah-Jane Tasker
