Global Macro

• Forecast for Fed’s new forecasts – still one more rate hike to go – Reuters
• Iran becomes third-largest crude oil producer in OPEC as Saudi turns down taps – BNE Intellinews
• Balancing act: Disinflation and recession – VoxEU

Asia

• China’s new home prices drop faster as analysts turn ‘negative’ on property-sector outlook amid ‘not enough’ stimulus – SCMP
• Broken dreams, shattered families in China’s unfinished apartments – Reuters
• Thailand hit by rising bond defaults as interest rates climb – Nikkei Asia
• China home prices drop in more cities in August, extending slump – Nikkei Asia

Americas

• UAW strike: Workers walk out at US motor industry giants – BBC
• US: Simultaneous strikes hit ‘Big Three’ car manufacturers – DW
• Lots of Americans are in the global 1%. A tenth of their income could transform the world. – Vox
• How America became a nation of gamblers – Vox
• U.S. economy is trending in the Fed’s direction, so expect Powell to tread carefully next week – MarketWatch
• The US capital glut and other myths – VoxEU
• US economy going strong under Biden – Americans don’t believe it – Guardian

Europe

• EV subsidies: Will EU-China row lead to a tariffs war? – DW
• Eurozone interest rates raised to all-time high – BBC
• France’s Carrefour puts up ‘shrinkflation’ warning signs – BBC
• US singles out Turkey with latest war sanctions package – BNE Intellinews
• ‘It’s organised looting’: UK in grip of a shoplifting epidemic, say store owners – Guardian

Terra Specufestor

• Five challenges facing the new Reserve Bank governor – NInefax
• Chinese developers exit Australian market as property crisis worsens in China – ABC
• Unemployment rate remains at 3.7 per cent in August, as employment grows by 65,000 – ABC
• Multimillionaire Tim Gurner regrets ‘deeply insensitive’ comments calling for ‘pain in the economy’ – Guardian
• Australian economy adds 65,000 jobs in August, raising prospect of further rate hikes – Guardian
• Synergy 360 procurement controversy allegedly involving Stuart Robert referred to anti-corruption commission – Guardian
• High Court ruling vindicates sacked Qantas workers but doesn’t stop the outsourcing of jobs in the future – The Conversation
• Drop the talk about ‘mum and dad’ landlords. It lets property investors off the hook – The Conversation
• Business should serve, not enslave – Pearls and Irritations, Gitto….big business to rule them all and in the darkness bind them….
• The Circuit Game: Oligopolies are distorting the economy – Pearls and Irritations
• Fresh blow for Qantas after tumultuous few weeks: ACCC moves to deny airline’s bid to extend coordination with China Eastern – Sky
• Australia to be ‘functionally cashless’ by 2025 – News
• Unemployment rate steady at 3.7 per cent as job numbers, migration surge – News
• Diesel fuel rebate our biggest fossil fuel subsidy. What’s the scam? – Michael West
• Greens extract another $1b for housing package but HAFF numbers still don’t stack up – Michael West

…and furthermore…

• The long-term effects of inflation on inflation expectations – VoxEU
• Killer acquisitions in digital markets may be more hype than reality – VoxEU
• When credibility is not enough: Fiscal dominance, monetary policy, and exchange rates in early modern Venice – VoxEU
• The dangers of virus hunting – Vox
• Is there anything Ozempic can’t do? – Vox

Some Vids

Why are Saudi Arabia and Russia cutting production?

Wolff, Economic Update, Profit & Inequality: The Driving Forces of Capitalism

Dhaval Joshi, What happens when the biggest housing bubble in history pops

AI is becoming more threatening and dangerous

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