Roundup: S&P +0.25%, Dow +0.15%, Nasdaq +0.67%, Gold $1239.40, London +0.20%, Germany +0.66%, France +0.36%. At pixel: Nikkei +1.09%, Hang Seng +0.71%
After Goldman, Nomura chants NaMo: Nomura expects a BJP-led coalition to form the next government at the Centre after the 2014 elections. (ET)
When it comes to reckless money creation, it turns out that China is the king. Over the past five years, Chinese bank assets have grown from about 9 trillion dollars to more than 24 trillion dollars. This has been fueled by the greatest private debt binge that the world has ever seen. (SA)
Pope Francis calls unfettered capitalism ‘tyranny’ and urges global leaders to guarantee work, education and healthcare. “How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points?” Good question. (Guardian)
US Fed: In the long run, we are so fcuked! “Slower growth in productivity might have become the norm.” “The expected future return of equities is about 4% a year.” etc… (Bloomberg)
Birth Tourism: Lured by U.S. citizenship for their children, thousands of Chinese women give birth annually in the States, supporting a thriving birth-tourism industry. For $30,000-$40,000 you get a plane ticket, accommodation in Los Angeles or Chicago in a two- or three-bedroom apartment or house, plus all the citizenship paperwork for the newborn. Women spend two months in the U.S. before delivery and one month post-partum. Nannies, drivers and a chef will be shared among three women. Naturally, Chinese-speaking doctors will be on call. Cuz, ya know, Merica. (Time)
8 subconscious mistakes our brains make every day and how to avoid them. (FastCompany)
Good luck and Happy Thanksgiving!