Steve Keen's Debtwatch

If I was asked to nominate the wisest aphorism of all time, Mark Twain’s “History doesn’t repeat, but it sure does rhyme” would definitely be one of my top two candidates.

On song, today Wall Street is replaying the 1930s, but to a slightly different meter. With the 80th anniversary of  the Great Crash of …

As I’ve noted here earlier, the blog newsfrom1930 performs a very valuable ”reality check” for today by each day publishing a summary of the Wall Street Journal from the same day in 1930. The overwhelming flavour of reports from that time is that the Depression was over and recovery was imminent. Plus la change…

This week …

Paul Krugman sometimes introduces his more complicated posts on his blog as being “wonkish”. This post is wonkish in spades–though in the linked papers rather than the content here.

I’ve just finished the first reasonable description of my multi-sectoral monetary model of production, which I’ll be presenting at the Paul Woolley Centre for Capital Market …

The RBA has put rates up now on the belief that the financial crisis is behind us, and it has to return to its established role of controlling inflation.

That this decision was likely was flagged by the speech by Anthony Richards last week, which implied that the RBA, having ignored the house price bubble created …

2010 is shaping up as the year that the bulls and bears of the world’s last unpopped asset market bubble—Australia’s property market—will collide head on. The gap between those predicting yet another bubble, and those predicting its ultimate demise, has closed.

The bulls as always, emphasise the “fundamentals”—population-fuelled demand outstripping laggardly supply—and that “Australia is …