- The “Revere Award” and the economists who predicted the crisis–including Michael Hudson, Wynne Godley, Ann Pettifor as well as myself, Roubini and Baker;
- Why we saw a crisis coming (runaway private debt bubble that had to burst);
- Why some of my post-crisis calls were wrong–at least in the immediate term in Australia (huge government stimulus and the First Home Vendors Boost [see also this link]);
- What the prospects were for Australian real estate (down about 40% over 10–15 years, maybe 15–20% over next 2–3 years);
- What the next two years might hold for asset markets and unemployment (stagnant asset prices and rising unemployment); and
- Whether it might be possible to have a “Goldilocks Downturn” where asset prices rise but slowly, unemployment rises but not too much, and it’s all over in a few years rather than a decade (my answer was that “you can’t have all three”).
Click here to watch the interview on Sky News at a full frame rate, or click below to watch a recording at a lower frame rate. And hats off to Peter for an excellent interview.