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Roving Cavaliers of Credit
Read Some Minsky
Monetary Profits Paradox
Are We "It" Yet?
Monetary Multisectoral Model
"No-one saw this coming"?
Why the Crisis is not over
Deleveraging with a twist
Bernanke doesn't understand the Great Depression
The Case Against Bernanke
Rescuing the Bubble
Australian house prices
Competition No Panacea
House Prices & Banks I
House Prices & Banks II
Lectures on Endogenous Money
Debt and Australian housing
BBC HARDtalk Interview
INET Interview on why I saw "It" coming
I have just been interviewed by Peter Switzer on the Switzer show on Sky News Australia. Peter interviewed me for over 15 minutes, which allowed plenty of time to discuss such things as: The “Revere Award” and the economists who predicted the crisis–including Michael Hudson, Wynne Godley, Ann Pettifor as well as myself, Roubini and Baker; […] ↓ Read the rest of this entry…
Click here for this post as a PDF I’ve been working on the second edition of Debunking Economics for the last three months, and I’m now flat out trying to finish the first draft by the end of March—hence the paucity of posts recently. However the latest Australian GDP figures came out this week, and […] ↓ Read the rest of this entry…
Australian Prime Minister Kevin Rudd has followed up his critique of neoliberalism with a new essay in the Sydney Morning Herald on the causes of the crisis, and the policies needed after recovery. With one exception, his key explanations for the crisis are the same as those identified by myself and the handful of other […] ↓ Read the rest of this entry…
“Lies, damned lies, and statistics” is part of a phrase attributed to Benjamin Disraeli and popularised in the United States by Mark Twain: “There are three kinds of lies: lies, damned lies, and statistics.” The statement refers to the persuasive power of numbers, the use of statistics to bolster weak arguments, and the tendency of […] ↓ Read the rest of this entry…
Several people have commented on the speech by Glenn Stevens (for international readers, Stevens is the Governor of Australia’s central bank, the Reserve Bank of Australia) yesterday in which he commented, inter alia, that: “I do not know anyone who predicted this course of events. This should give us cause to reflect on how hard […] ↓ Read the rest of this entry…
What’s Really Going On? or… Why Did I See it Coming and “They” Didn’t? Part 2: The Models “But this long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us […] ↓ Read the rest of this entry…
If things are really grim, it helps to have an indefatigable nature, and there’s no doubt that RBA Deputy Governor Ric Battellino has that in spades—at least in the speeches he makes at public conferences. Were I being crucified, I’d like to have Ric up there with me, singing “Cheer up Brian!…”, to take my […] ↓ Read the rest of this entry…
2nd Anniversary Issue… Why Did I See it Coming and “They” Didn’t? The financial crisis is widely accepted as having started in August 9 2007, with the BNP’s announcement that it was suspending redemptions from three of its funds that were heavily exposed to the US securitisation market (click here for the BNP August 9 […] ↓ Read the rest of this entry…
Just two years ago, Central Banks appeared triumphant. Inflation, the scourge of the 1970s and 80s, appeared dead, the financial crisis of the Tech Wreck had been contained, economies worldwide were booming, and stock markets and house prices were spiralling ever upwards. Then along came the Subprime Crisis, and we received a rude reminder of […] ↓ Read the rest of this entry…
The Our Finance Blogs site (http://ourfinanceblogs.com/forum/) is hosting an online debate on “Property 2009: Crash, Boom or Stagnate?!”. I will be one of the protagonists in the debate. If you’d like to take part, go to: http://ourfinanceblogs.com/forum/index.php?action=register and sign in. Check: http://ourfinanceblogs.com/forum/index.php?topic=7.msg9#msg9 for further details.
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