Steve Keen's Debtwatch

One of the unexpected things I’ve learnt in Boston is that the Global Financial Crisis is not called the Global Financial Crisis in America–and therefore the TLA of the GFC has no meaning here.

Instead, in America this might be The Crisis That Has No Name (TCTHNN), because they don’t call it anything at all: …

Unexpected and wonderful things can happen when you stick your neck out, as I have done over Australia’s private debt bubble. The “tall poppy” syndrome can still cut you down, but you also find that people are willing to assist in ways that you’d never think of yourself.

One of those has just occurred with …

Preliminary Remarks
As noted in Debtwatch No. 44, I have stopped writing the monthly Debtwatch Report to focus on my more long term research. I’m still posting occasional blog posts when I feel the need—like the two recently on Australia’s new resources tax—but generally I’ll be working on more technical matters, and posting entries based …

As I explained in my last post, the cost curve in the Treasury’s model of the RSPT is based on a fantasy. The situation is even worse when we turn to the other side of the model, the demand curve: it is based not merely on a fantasy, but an outright fallacy.

Legions of economists …