Tuesday, May 6, 2014

THE RICH GET RICHER: here's what you need to know

Here's your morning news:

Calculated Risk - pace of construction hiring increasing. Just like he said it would.

FT Alphaville - Nomura on China property. Tell me though: how long has Nomura been beating this drum?

FT beyond brics - India elections, a festival of vote buying. Just ask an Indian what their elections are like.

Reuters - rising bad loans threaten India's recovery. Um... bad loans in an emerging market? Hey, where have I heard this before? Y'know, it's almost as if we're seeing the beginning of a secular bear market in EMs!

FT beyond brics - are Indian labour reforms possible? That's a strange problem to fixate on, Mr. Crabtree, when the vast majority of Indians are still subsistence farmers.

Mineweb - Murenbeeld says gold around $1300 forever. Funny how an analyst predicts gold to stay at the same price after it's spent a couple weeks staying at the same price, eh? Similar to how he thinks the EM economies will continue growing. I do agree with his statement about "bedrock holdings" though.

Economist - Piketty's Capital in four paragraphs. I'll do it in five words plus an inequation: if r>g, the rich get richer.

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