Category Archives: Economics and economy

Seems to be a safe assumption

Greg Mankiw on the US government shut down and GDP: In this interview, CEA chair Kevin Hassett (around minute 4:00) dismisses the adverse impact of the government shutdown on real GDP. It seems to me that he is more wrong than … Continue reading

Posted in Economics and economy | 15 Comments

Well Duh

Banks have turned into Big Brother and are snooping through customers’ personal transactions before granting them loans to try and catch out whether they have hidden pets or could be pregnant. Following public pressure from the royal commission, banks are … Continue reading

Posted in Economics and economy, Financial Services | 35 Comments

Wayne Swan could have done that

So I’ve been catching up on all the news since returning to Australia. Sex scandals, MYEFOs and what not. Since morning Peta Credlin managed to combine the (latest) sex scandal and MYEFO. Broad’s career was probably unsalvageable, but his exit … Continue reading

Posted in Economics and economy | 13 Comments

The political economy of interest rate adjustments

Interest rate adjustments are a dangerous economic tool, both when they go down too far and when they are raised too high. Central bank interest rate policies, drenched as they are in the incompetent conclusions from Keynesian macro, are about … Continue reading

Posted in Economics and economy | 10 Comments

From the Wall to Wall Street

TRUMP VOWS VETO OVER WALL! FRUSTRATION BUILDS SHUTDOWN LOOMS Meanwhile, in The Oz, this is the headline story in the paper – allies warn as Trump pulls troops out of Syria – but it’s no news anywhere else, including at … Continue reading

Posted in American politics, Economics and economy, International | 30 Comments

He may have half the country with him but it’s the wrong half

Quite a day for news. First the economy. FED RAISES RATES; DEFIES TRUMP MARKETS PLUNGE The aim is to sabotage the American economy. No one in the deep state, whether they are in the “public service” or George Soros, will … Continue reading

Posted in American politics, Economics and economy | 15 Comments

No such thing as “the level of demand” at an aggregate level

Through the whole of the Costello years as Treasurer, I would say that everyone would live through these exceptionally good economic times, but no one would learn a thing. And it’s not just that we had balanced budgets, but had … Continue reading

Posted in Economics and economy | 18 Comments

More economic incompetence coming our way

Modern economics is so incompetent to deal with the problems of our economy that it is simply breathtaking. This is the headline at The Oz: “Reserve Bank paves way for further cuts in official interest rates”. His comments come against … Continue reading

Posted in Economics and economy | 37 Comments

A sobering message from CIS. Wake up Australia!

Our economy has been described as “the wonder down under” but complacency rules and chaos beckons under Green/CFMEU administration. A glance at the table of economic and financial indicators at the back of The Economist shows Australia leading the pack … Continue reading

Posted in Economics and economy, Rafe | 5 Comments

The Opportunity Costs of Socialism

The American Government (ahem, The Council of Economic Advisers) has just released a new paper – 72 pages in length – titled: The Opportunity Costs of Socialism. Here are the first paras from the Executive Summary to give you a … Continue reading

Posted in Economics and economy, Socialism | 14 Comments