Category Archives: Financial Services

Banking Royal Commission

A disgraceful waste of money that should eventually find that private business has a profit motive and deadbeats shouldn’t get loaned money. But I suspect not. In the meantime here is some stuff I have written on banking: Submission to … Continue reading

Posted in Financial Services | 87 Comments

The nirvana fallacy and ATM fees

Australians have woken to the news that the hated ATM withdrawal fees have been scrapped. Here is our political class claiming credit: Mr Morrison said the initiative — led by the Commonwealth Bank as it attempts to recover from a series of … Continue reading

Posted in Economics and economy, Financial Services | 16 Comments

Where was the minister?

So politicians are distracting us from their own inadequacies by pointing to poor banking behaviour. The latest “scandal” is Westpac allegedly manipulating the bank rate. If you can’t work out why this is important or even a problem, the AFRs … Continue reading

Posted in Financial Services, Hypocrisy of progressives, Oppressive government | 16 Comments

The Empire Expands

The 4th branch of government, the Administrative Branch, continues its voracious expansion seeking ultimate control.  It has taken the next step and now seeks to administer and regulate thought.  Yes that’s right.  They have taken baby steps towards prosecuting thought crime. … Continue reading

Posted in Financial Services, Freedom of speech, Market Economy | 25 Comments

Gains from agility. From the “you couldn’t make it up” file

h/t Grace Collier today. Pity about the paywall, but read on. Punch the words “Australia Business Financing Centre” into your browser and your mind will boggle at the possibilities. The Australia Business Financing Centre, in its headline, says “Australian Government … Continue reading

Posted in Economics and economy, Financial Services, Mining, Rafe, Shut it down. Fire them all. | 56 Comments

Government officials are not omniscient

Pyrmonter sent me a link to a magnificent Alex cartoon. This captures a sentiment that we see a lot in economic commentary – the view that the monetary authority (and sometimes the Treasury too) is somehow omniscient. That these economic … Continue reading

Posted in Economics and economy, Finance, Financial Services | 4 Comments

Investment advice: Don’t buy products you don’t understand

Christopher Joye has an article in the AFR today talking about behavioural finance. … Greg Medcraft’s Australian Securities and Investments Commission (ASIC) has undertaken laboratory experiments to determine whether punters suffering from “behavioural biases” are more likely to accept sales … Continue reading

Posted in Economics and economy, Financial Services | 20 Comments

Divestment campaign targeting Australian banks

The Australasian Centre for Corporate Responsibility has his morning released a report Financed emissions, ‘unburnable carbon’ risk and the major Australian banks (Pdf). ACCR has released a research report showing that there is a huge difference between the banks. Our … Continue reading

Posted in Divestment, Financial Services, Mining | 27 Comments

Too big to fail is not an economic problem

We hear a lot about regulating the banking system and getting away from the “Too Big to Fail” problem. In this excellent op-ed Chris Berg tells it how it is: … no matter what the Murray Inquiry recommends – no … Continue reading

Posted in Federal Politics, Financial Services | 46 Comments

Plain Packaged Banking

The push for plain packaging – and intellectual property expropriation – began as a consumer awareness campaign. So, for example, consumers might think that ‘Lights’ weren’t as unhealthy as ‘regular’ cigarettes. Maybe they were confused. Some of my colleagues who … Continue reading

Posted in Divestment, Economics and economy, Financial Services, Plain Packaging | 76 Comments