Commentary on investing, balancing Euro news and rising oil prices, revamping Ontario’s tax gifts for business, writing for a living, going backwards, the Chinese middle income trap, Goldman Sachs Japan workers unionise, and John Ivison's strange ask.

Richard Berstein on why credit deflation makes the ‘risk-on’ trade better to be off.

Financial Times -- Why the ‘risk-on’ rally will not last
The recent rally in global markets has been led by what most investors are now calling “risk-on” assets.

Oil prices rising.

Telegraph -- Soaring oil prices will dwarf the Greek drama
Since last week's eurozone "grand summit", the headlines have been positive and, in the official photos anyway, the main players appear to be smiling.

The multitude of tax breaks for business are like the barnacles at the bottom of an old boat.

Globe and Mail -- Ontario to heed Drummond report and revamp business support
The Ontario government has embraced one of the key recommendations of economist Don Drummond’s report on the province’s fiscal difficulties, vowing to radically revamp its support programs for business in order to save hundreds of millions of dollars.

Related. Thanks to David of Victoria.

Demon.cracy.info -- Global Financial Crisis: A World In Debt
World governments have borrowed massive amounts of money to live beyond their means.

When did writing become a career?

New York Review of Books -- The Writer’s Job
Since when did being a writer become a career choice, with appropriate degree courses and pecking orders?

Economies shrinking.

Economist -- The Proust index
Advanced economies have gone backwards by a decade as a result of the crisis.

Had the opportunity to see UVIC business Professor Saul Klein in action a few days ago, made me want to enroll! On being a very good business school teacher.

CNN Money -- What makes a master B-school professor?
The day's assigned case, "The Weekend That Changed Wall Street," is meant to provoke a thoughtful discussion.

For China the easy part is over.

Telegraph -- China risks 'middle income trap' without free market revolution
A joint report by the World Bank and China’s Development Research Centre has warned that the low-hanging fruit of state-driven industrialization is largely exhausted.

Uber-international financial capitalism meets local labour laws.

Japan Times -- Threatened Goldman Japan workers unionize
Financial giant butts against tough domestic labor law as it seeks to slim down workforce.

Oh please.

National Post -- Reagan optimism the cure for Harper government’s mid-term blues
Even his political rivals recognized that Ronald Reagan’s sunny optimism was a tonic for an America that was down in the dumps.