The Debtwatch Podcast is now operational. To hear the first interview, download it, and/or subscribe to the monthly feed via Itunes or similar software, please click on the link below:
DebtWatch Podcast
To subscribe directly, simply copy and paste the link below into your podcast software:
 http://www.debtdeflation.com/podcast/debtwatch.xml
Thanks again to Cameron Media Technology for providing this service.
Debtwatch Podcast Now Up and Running
Debtwatch Goes Podcast
By the kind auspices of Stuart Cameron of Cameron Media Technology Pty Ltd, Debtwatch is now going “pod”. Each month’s report will be accompanied by an interview, which will be available for download and subscription via Itunes (etc.).
 The first podcast, which discusses the “Experience can be misleading” election special report, can be accessed here. Shortly [...]
Deflated changes in Wages and Debt: 7.30 Report Data
Tables like the ones below take my breath away when I see them for the first time–because the story they tell is worse than any I would have dared make up. As I noted in the interview with Kerry O’Brien on the 7.30 Report, real wages have increased since 1990, and since Australia’s last election [...]
Data for 7.30 Report Interview coming soon…
I provided a number of comparisons of real wages, mortgage payments, interest rates and the like in my interview on the 7.30 Report this evening. I’ll post a table containing those data by tomorrow morning.
If you’re a new visitor and would like to receive my Debtwatch Report, which Kerry mentioned in tonight’s interview, please click [...]
Link to extended 7.30 Report Interview
The 7.30 Report is making good use of the web with its extended interview feature. These are the edited highlights of the major interviews it does for stories, at best ten per cent of which sees the light of day in the final story.
Here is the link to the extended interview with me for their [...]
7.30 Report on “American mortgage shock waves hit Australia”
Those of you who missed last night’s 7.30 Report (like myself–I was playing tennis at the time!) should check the link below:
 American mortgage shock waves hit Australia
Apologies again for a tardy update cycle on this blog, but as you can imagine, I’m busy as hell right now. When the dust settles–in early October–I hope to [...]
“Total, total bullshit”?
Oh dear. When Nassim Khadim from The Age asked me to comment yesterdy on the electoral assertion being made by the Liberal Party–that rising State debt was putting upward pressure on interest rates–I responded that the assertion was:
“Total, total bullshit. It’s like saying that somebody dropped a pebble into the ocean and that caused a tsunami. And you can [...]
PM on New Zealand Reserve Bank Policy Shift–transcript
Will Budget tax cuts fuel inflation? (click here for the MP3 file)
PM - Wednesday, 9 May , 2007Â 18:14:52
Reporter: Stephen Long
MARK COLVIN: Now, will the tax cuts in the Budget cause inflation?
Some leading economists argue that the Reserve Bank could be forced to lift interest rates down the track because Government spending and tax cuts [...]
Public Talk at UTS today 1pm
I’m speaking at Reality Check, as part of the ALP Fringe Conference program, which runs parallel to the national conference and provides NGOs and other groups with an interest in influencing ALP policy with a platform to host discussions and seminars.
I’m one of three speakers and we have only one hour, so it will be rushed: [...]
Household Debt: US vs Australia
As part of the background to the LateLine interview yesterday, I graphed the US household debt to GDP ratio against the Australian. All the news recently has been about the sub-prime crisis in the States, of course: but guess where household debt has been growing fastest? That’s right, good old Australia has out-done itself once [...]
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Blogroll
- 20070308: Bad debts on the rise in mortgage belt
- 20070309: Late-paid mortgages show pain in suburbs
- 20070314: LateLine on the US Sub-Prime Crisis - Video of Tom Iggulden’s report on New Century’s woes and arguments (including mine) about its relevance for Australia
- 20070314: Warning on ’silly’ loans - The Age covers the new ’shared equity loans’ being offered by Adelaide Bank and St George
- 20070317: Onward rolls the sub-prime story in the USA
- 20070725 New York Times “‘Lender Sees Mortgage Woes for ‘Good’ Risks”
- 20070725 New York Times Op Ed “‘Stopping the Subprime Crisis”
- 20070815: 7.30 Report “American mortgage shock waves hit Australia” - Profile of the Cooks case and views on the likely collapse of the mortgage market in Australia
- 20070826 New York Times: Inside the Countrywide Lending Spree - Inside the Countrywide Lending Spree
- 20070917: How bad debt infected the world - Excellent Sunday Telegraph feature on CDOs
- 7.30 Report - Many Baby Boomers will retire in debt–and I’m probably one of them!
- ABC PM on US Subprime Crisis - Stephen Long covers the USA Subprime crisis and local angles with interviews of Steve Keen, Ian Rogers (The Sheet) and David Tennant (Care ACT)
- Bear Stearns: Turmoil in sub-prime mortgages
- Beware of Exploding Mortgages (New York Times June 10 2007)
- Can the mortgage crisis swallow a town? - New York Times chilling description of the mortgage crisis’s impact on one town in Ohio
- Centre for Policy Development - The policy portal that evolved out og the New Matilda
- Credit derivatives: At the risky end of finance - The Economist on derivatives
- Debtwatch Podcast - Debtwatch’s Monthly Podcast with Stuart Cameron (www.cameronmedia.com.au)
- Debunking Economics - My Debunking Economics website. A wealth of lectures and papers, and a poverty of organisation!
- Doug Noland - Doug Noland’s Credit Bubble Bulletin: the best analysis of America’s Speculative Bubble
- First home payments hit $3000 per month
- FN Arena: Mortgage crunch in Australia too? - FN Arena covers my March Debtwatch and more optimistic (or Panglossian?) takes on the situation from Macquarie Bank, etc.
- Global House Price Crash
- Housing Affordability
- iTulip - One of the best commentary sites on the Internet Bubble has been reborn amid the USA’s mortgage binge
- NZ Reserve Bank on Regulation: PM May 9th 2007 - Interview on the Budget, Inflation, and New Zealand’s Reserve Bank’s shift on regulation
- Our economic managers - Non Sequitur’s brilliant take on those who think the “status quo” will last forever
- RBA 2003 Conference on Asset Prices and Monetary Policy - This is an excellent set of papers on the dangers of leveraged speculation, and the capacity of the market for irrational behaviour.
- RBA Bulletin Statistical Tables - The good people at RBA Statistics have recently added a Zipped file that contains all their XLS files–many thanks!
- RBA Speech March 16th - One economic indicator not considered in Dr Edey’s presentation was the level of private debt…
- Shared Equity Loans - Well-researched article on the pitfalls of shared equity mortgages
- The New Matilda - Intelligent alternative thought on social and economic issues in Australia
- True rate of home defaults hidden - Repossessions may be four times higher than reported figures
- Two Depressions, One Banking Collapse - An excellent comparison of the 1890 to the 1930 Depression, by Chay Fisher & Christopher Kent, which shows how much more severe the 1890 downturn was for Australia, and the role of debt and housing speculation in that crisis
- US Federal Reserve Historical Statistics - I use the Zipped “tabs” files from this page; check the bottom of the page for an explanation of the data structure
- US Housing Crash Blog