Good morning. So much for that tough austerity program in the UK…

http://www.bondvigilantes.com/blog/2014/08/21/great-british-austerity-myth/

Finally some good news for the Dutch economy: we are going to revise the GDP numbers. Upwards, that is. (Economist, paywall)

http://www.economist.com/news/finance-and-economics/21613321-how-revisions-will-soon-bulk-up-gdp-changing-scales

And also some positive news on Japan

http://blogs.wsj.com/economics/2014/08/21/overlooked-data-shows-japan-wages-rising/

“How to Survive a Secular Stagnation” Some advice from Mohamed A. El-Erian
http://www.bloombergview.com/articles/2014-08-19/how-to-survive-a-secular-stagnation

This is an interesting trend: the US seems to have lost the love for driving…

http://fortune.com/2014/08/15/america-driving-cars/

The troubled region

http://www.ritholtz.com/blog/2014/08/syraq/

“Is there a trade-off between low bond risk premiums and financial stability?” (spoiler answer: not really)

http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cflaugust2014_325.pdf

This is how big the Norwegian wealth fund has become… (via @jackneele)

http://qz.com/252753/norways-gargantuan-sovereign-wealth-fund-by-the-numbers/

Some perspective on the depth of the European reces… eh… depression

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/08/20/worse-than-the-1930s-europes-recession-is-really-a-depression/

This chart is originally from the Economist. Still a good way of presenting

And in case you are worried about that Icelandic volcano: here are some cool charts to tell you what is up

http://www.businessinsider.com/iceland-volcano-infographic-2014-8

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