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China's Bear Stearns moment

The last-minute rescue of a three-billion-yuan trust product in China bears an eerie similarity to the Bear Stearns bailout. Investors have been spared the pain of a drastic haircut for now but the question of moral hazard remains.

29 Jan 2014
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Time to target the real welfare drain

The Government's proposed welfare review will likely look to root out 'dole bludgers' and 'disability deadbeats' but will ignore the biggest drain on the welfare coffers - the aged pension. Generous entitlements have pushed it to 10 per cent of the federal budget and it's growing.

29 Jan 2014
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Eric Abetz is eating Shorten's lunch

The employment minister is talking more sense on unions than the Labor party. Bill Shorten needs to take a stand or risk losing the industrial relations fight to the Coalition.

29 Jan 2014
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Scoreboard: Homes fire

Wall Street rebounded overnight, helped by good news on US house prices and strong corporate earnings. Emerging market fears subsided.

29 Jan 2014
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Caton's Corner - January 2014

Many, including me, subscribe to the view that US economic growth will accelerate in 2014, if only because fiscal drag will be less than in 2013. Let’s just say that view has had little support from the data so far this year. It was, in any case, a remarkably slow week for macro-economic news. It was a poor week for the share market, mainly because of concern about global growth and lacklustre earnings reports.

29 Jan 2014
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