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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
Click here for this post in PDF: Debtwatch Members; CfESI Members Click here for the data in this post: Debtwatch Members; CfESI Members The ABS house price data for December 2011 has just been released, and it shows that house prices fell 4.8% in nominal terms between December 2010 and December 2011. The usual suspects are already trying […] ↓ Read the rest of this entry…
I would like to take this opportunity to introduce myself to the Debtwatch and CfESI community. My name is David Lawson, and I will be coming on board as the Director of the Centre for Economic Stability Incorporated (CfESI) as of the 1st of February. I have been an active committee member of CfESI since […] ↓ Read the rest of this entry…
Sydney, Buenos Aires, Washington, Traverse City, New York, London… Spot the odd one out. Traverse City is in Michigan, and for the second time in two years I found myself diverting from my usual capital city travels to spend a few days near Lake Michigan at a “Local Future” conference organized by Aaron Wissner. It’s […] ↓ Read the rest of this entry…
I’ve just received a copy of ”Economics Europe“, the newsletter Bloomberg produced for the World Economic Forum at Davos, in which my commentary on “The Future of Economics” was published in the Wednesday 01.25.12 edition (it’s on page 5).
Click here for this post in PDF: Debtwatch members; CfESI members Click here for the data in this post: Debtwatch members; CfESI members The “Global Financial Crisis”, which began in late 2007, marked a turning point in the nature of market economies. Their performance from at least the mid-1960s had been under-written by a faster […] ↓ Read the rest of this entry…
I was approached by Bloomberg to write an 800-word feature on “The Future of Economics” for the World Economic Forum, which starts today in Davos. Here is the Bloomberg newsletter, with my commentary on page 5. For its entire history, macroeconomics has been dominated by mathematical models that ignore the existence of money, debt and […] ↓ Read the rest of this entry…
Neil Wilson is a UK-based finance and information systems professional who blogs at 3Spoken.co.uk, and who is an active participant in monetary debates. He has just published a post where he takes my “Godley table” modeling approach and rejigs it to make it consistent with double-entry bookkeeping standards. I am no accountant–I never studied accounting at university […] ↓ Read the rest of this entry…
Debtwatch began in March 2007 as a way of distributing my monthly newsletter on the economic crisis I expected to soon erupt, and about which I had been warning in media interviews since December 2005. Click here for this post in PDF Figure 1: Excerpt from the 1st Debtwatch Report in November 2006 From humble […] ↓ Read the rest of this entry…
Click here for this post in PDF (Debtwatch Members; CfESI Members); Click here for the data in this post (Debtwatch Members; CfESI Members) Mortgage debt is by far the largest component of debt in Australia today—government debt, which is the focus of political debate, is trivial by comparison (a quick caveat though—finance sector debt may […] ↓ Read the rest of this entry…
Preamble Click here for this post in PDF The fundamental cause of the economic and financial crisis that began in late 2007 was lending by the finance sector that primarily financed speculation rather than investment. The private debt bubble this caused is unprecedented, probably in human history and certainly in the last century (see Figure […] ↓ Read the rest of this entry…
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