Max Keiser Interview

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Max Keiser inter­viewed me in his ines­timable style on the Max Keiser Report ear­lier this week, and the inter­view is now avail­able (the inter­view began at roughly mid­night my time on a day that had started for me at 5am, so there are some slips in my deliv­ery here–for instance at one point I say “fail to avoid” when I meant “avoid”).

I’ve had some dif­fi­cul­ties in get­ting the embed to work (the lat­est ver­sion of Word­Press seems to do some­thing unto­ward to the embed code) so you may need to hit the “refresh” but­ton before you’ll see the video below.

Greenspan wins Dynamite Prize in Economics

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Alan Greenspan has been judged the econ­o­mist most respon­si­ble for caus­ing the Global Finan­cial Cri­sis. He, and 2ndand 3rd place fin­ish­ers Mil­ton Fried­man and Larry Sum­mers, have won the first–and hope­fully last—Dyna­mite Prize in Eco­nom­ics.

In award­ing the Prize, Edward Full­brook, edi­tor of the Real World Eco­nom­ics Review, noted that “They have been judged to be the three econ­o­mists most respon­si­ble for the Global Finan­cial Cri­sis. More fig­u­ra­tively, they are the three econ­o­mists most respon­si­ble for blow­ing up the global economy.”

Doonesbury on Banking Pigs

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I’ve been a fan of Garry Trudeau’s Doones­bury car­toon since my stu­dent days (when, coin­ci­den­tally, Trudeau was pro­fil­ing life as a uni­ver­sity student).

As any reader of the strip knows, unlike most comic strips the char­ac­ters in Doones­bury age and move with the times. Today’s times are those of a finan­cial cri­sis, and once again I’m play­ing a role–though as ana­lyst and critic rather than par­tic­i­pant. Ditto also Trudeau, who has posted a lovely lit­tle jibe in today’s Sun­day spread. For all those who are exas­per­ated with the spin doc­tors and debt spruik­ers who have grown fat while bring­ing the globe to the eco­nomic precipice, I rec­om­mend today’s Doones­bury car­toon (Sun­day Feb­ru­ary 21).

Launching the Talk Finance Forum

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Many vis­i­tors to this site have com­mented that, though the dis­cus­sions are very infor­ma­tive, they are also very dif­fi­cult to fol­low. A dis­cus­sion that begins under one post will recom­mence under another, and with over 200 posts and 16,000 com­ments so far, that makes fol­low­ing a com­plete thread of dis­cus­sion effec­tively impos­si­ble. It was noted that a forum with struc­tured dis­cus­sion head­ings might be a bet­ter way to go. So we have estab­lished the Talk Finance Forum

Jessica Irvine’s piece in today’s SMH

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(Edit: Please note that there is a foot­note to this story)

I nor­mally don’t com­ment on arti­cles about me, since I am aware that now that my views are part of the pub­lic debate, I have to take the good with the bad in cov­er­age. I wouldn’t have writ­ten this either, were it not for the line “If only his pre­dic­tions were so reli­able” in Jes­sica Irvine’s piece in today’s SMHWalk­ing on a wire stretched between stim­u­lus and debt”.

Brilliant Business Insider Article on Dynamite Prize

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The Dyna­mite Prize for Economics–to be awarded to the three econ­o­mists most respon­si­ble for the Global Finan­cial Crisis–is going gang­busters with over 14,000 votes so far.

It may pick up even more thanks to some excel­lent work by Busi­ness Insider/Clusterstock, which has pro­duced a bril­liant graphic illus­trat­ing the prize.

It’s mag­nif­i­cent, and here it is below for your enjoyment–click on the “Go To The Short List of Nom­i­nees for the Dyna­mite Prize in Eco­nom­ics–>” link and that will take you to the graphic, or click here to go straight to the graphic.


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As most Aus­tralian read­ers would know, I recently lost half of a bet over Aus­tralian house prices when the Government’s “First Home Own­ers Boost”–which I pre­fer to call the First Home Ven­dors Boost–reignited Australia’s house price bub­ble.

As a result, I’m walk­ing from Australia’s Par­lia­ment House to Australia’s high­est moun­tain, Mt Kosciousko–a dis­tance of 224km (140 miles). The walk will start at 2pm on Thurs­day April 15 from the entrance to Par­lia­ment House and–my legs willing–finish 8 days later on the sum­mit of Mt Kosciousko (which is 2228 metres–or about 7000 feet–above sea level).

Interview on Switzer TV

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Peter Switzer inter­viewed me on his cable TV show for Sky News last week.

You can watch the inter­view here. I would also rec­om­mend watch­ing the inter­view with John Hew­son (for inter­na­tional view­ers, John Hew­son was a pre­vi­ous leader of the Lib­eral Party of Aus­tralia, which despite its name is Australia’s con­ser­v­a­tive polit­i­cal party), in which amongst other things he noted that Cen­tral Bank inde­pen­dence, for which he had cam­paigned while a politi­cian, had not worked out as he had hoped, and had instead left unac­count­able econ­o­mists in charge of mon­e­tary policy.

Vote for Ignoble/Dynamite Economics Prize

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Vot­ing is now open for what has been renamed the Dyna­mite Prize in Eco­nom­ics.

The renam­ing was nec­es­sary because the own­ers of the Ig Nobel Prize objected to the similarity–which is under­stand­able. They also sug­gested the Dyna­mite Prize as a use­ful alternative.

We are, after all, intend­ing to award the prize to the three econ­o­mists who did most to drop the GFC bomb on the global econ­omy, via their naive and utterly unre­al­is­tic the­o­ries of economics.

The selec­tion process pro­duced the fol­low­ing set of nominees:

  • Fis­cher Black and Myron Scholes
  • Eugene Fama
  • Mil­ton Friedman

Talking about the Blog (1)

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I am giv­ing a talk on the blog today at Swin­burne Uni­ver­sity in Mel­bourne, and frankly I am not all that pre­pared on the main issue of inter­est to the organ­is­ers there, which is the edu­ca­tional impact of this blog (and blog­ging in gen­eral) ver­sus other forms of education.

I just estab­lished this blog to get the Debt­watch report out ini­tially, and it’s grown in both size and per­son­al­ity in ways that I never envis­aged. It’s been very grat­i­fy­ing, but I haven’t really had the time to reflect on they whys and hows of the process of blogging.