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While most of my blog read­ers like my analy­sis, the same can’t be said for the eco­nom­ics pro­fes­sion in gen­eral, let alone the so-called mar­ket econ­o­mists — mainly but not exclu­sively Chief Econ­o­mists for banks (I would be curi­ous to find out what their own “inter­nal press” looks like!). This page will record some of the neg­a­tive press I’ve received as a result — and also com­ments, such as ex-PM John Howard’s recent com­ment, that argues this isn’t a major cri­sis.

It should prove an inter­est­ing lit­mus test over time. If I am wrong, then these com­men­ta­tors can bask in their own “I told you so” moments. And if not…



Wash­ing­ton, Stu­art. “Fed to the res­cue,” Syd­ney Morn­ing Her­ald, 9th May 2009.

Got­tlieb­sen, Robert. “A global tri­umph,” Busi­ness Spec­ta­tor, 8th May 2009.

Zap­pone, Chris. “RBA sees revival on the way,” Syd­ney Morn­ing Her­ald, 21st April 2009.

Anony­mous. “More US eco­nomic hope,” Syd­ney Morn­ing Her­ald, 17th April 2009.

Anony­mous. “Signs of hope for econ­omy: Obama,” Syd­ney Morn­ing Her­ald, 12th April 2009.

Quinn, James. “Obama adviser has end in sight,” Syd­ney Morn­ing Her­ald, 11th April 2009.

McK­ib­bin, War­wick. “War­wick McK­ib­bin joins The 7.30 Report,” Aus­tralian Broad­cast­ing Cor­po­ra­tion, 9th April 2009.

Ryder, Terry. “Val­ues more likely to rise, con­trary to warn­ings,” The Aus­tralian, 9th April 2009.

Zap­pone, Chris. “Dol­lar eases back from three-month high,” Syd­ney Morn­ing Her­ald, 3rd April 2009.

Zap­pone, Chris. “Your house is safe, RBA says,” Syd­ney Morn­ing Her­ald, 31st March 2009.

Joye, Christo­pher . “First-home grant should be free loan,” The Aus­tralian, 24th March 2009.

Duffy, Michael. “The rub­bish PMs love to ped­dle,” Syd­ney Morn­ing Her­ald, 21st Feb­ru­ary 2009.

Howard, John. “Five great reforms are an essen­tial legacy,” Syd­ney Morn­ing Her­ald, 20th Feb­ru­ary 2009.

Davis, Mark. “Reserve bank direc­tor opposes pack­age,” Syd­ney Morn­ing Her­ald, 6th Feb­ru­ary 2009.

Swan, Peter. “Rudd’s pud­ding much too sweet,” Syd­ney Morn­ing Her­ald, 6th Feb­ru­ary 2009.

Turn­bull, Mal­com. “Rudd’s splurge is too much too soon,” Syd­ney Morn­ing Her­ald, 5th Feb­ru­ary 2009.

Anony­mous. “World can learn from us: Gillard,” Syd­ney Morn­ing Her­ald, 31st Jan­u­ary 2009.

Carr, Adam. “MAKE AUSTRALIA WORK: For­get the defla­tion bogey­man,” Busi­ness Spec­ta­tor, 29th Jan­u­ary 2009.

Git­tens, Ross. “No good rea­son to feel depres­sion,” Syd­ney Morn­ing Her­ald, 28th Jan­u­ary 2009.

Pas­coe, Michael. “Ah, so that’s unem­ploy­ment,” Syd­ney Morn­ing Her­ald, 22nd Jan­u­ary 2009.

Keane, Bernard. “The ped­dlers of reces­sion p-rn,” Crikey, 19th Jan­u­ary 2009.

Joye, Christo­pher. “Con­crete Detail,” Crikey, 7th Jan­u­ary 2009.

Davis, Mark. “Give your pay packet a shave and help save jobs,” Syd­ney Morn­ing Her­ald, 2nd Jan­u­ary 2009.


Teutsch, Danielle. “The hard times aren’t over yet: Fuel, rent, power bills up next year,” Syd­ney Morn­ing Her­ald, 28th Decem­ber 2008.

Anony­mous. “Lessons from the national accounts,” Syd­ney Morn­ing Her­ald, 4th Decem­ber 2008.

Joye, Christo­pher. “Real estate’s tem­ple of doom,” The Aus­tralian, 3rd Decem­ber 2008.

Maiden, Mal­colm. “The bot­tom of the inter­est rate bar­rel is a long way off,” Syd­ney Morn­ing Her­ald, 3rd Decem­ber 2008.

Gre­ber, Jacob. “‘Rate Cut’ Rory Bets Australia’s High­est Peak on House Prices,” Bloomberg News, 28th Novem­ber 2008.

Git­tens, Ross. “Hous­ing heads for a soft land­ing,” Syd­ney Morn­ing Her­ald, 26th Novem­ber 2008.

Git­tens, Ross. “Why Rudd and Rees are rewrit­ing his­tory,” Syd­ney Morn­ing Her­ald, 24th Novem­ber 2008.

Walsh, Kerry-Anne. “Did you miss me? Howard returns,” Syd­ney Morn­ing Her­ald, 16th Novem­ber 2008.

Hawthorne, Mark. “Dodo’s pub­lic rela­tions stuck on the ground,” The Age, 23rd Octo­ber 2008.

Pas­coe, Michael. “Econ­o­mists lin­ing up to dis­agree with Steve Keen,” Crikey, 23rd Octo­ber 2008.

Hen­der­son, Ger­ard. “Doom­sayer gets instant fame,” Syd­ney Morn­ing Her­ald, 21st Octo­ber 2008.

McCrann, Terry. “More bad home-buy­ing behav­iour,” Her­ald Sun, 16th Octo­ber 2008.

United States


Yellen, Janet L. “A Min­sky Melt­down: Lessons for Cen­tral Bankers,” Fed­eral Reserve Bank of San Fran­cisco, 16th April 2009.

Greenspan, Alan. “The Fed Didn’t Cause the Hous­ing Bub­ble,” The Wall Street Jour­nal, 11th March 2009.


Barnes, David. “Mar­ket facts punc­ture myth of ‘hous­ing bub­ble’,” Hous­ton Busi­ness Jour­nal, 30th Decem­ber 2005.


Anony­mous. “Fed’s Greenspan Doubts ‘Hous­ing Bub­ble’ The­sis,” The Street, 6th May 2004.

Bernanke, Ben S. “The Great Mod­er­a­tion,” The Fed­eral Reserve Board, 20th Feb­ru­ary 2004.


Bernanke, Ben S. “On Mil­ton Friedman’s Nineti­eth Birth­day,” The Fed­eral Reserve Board, 8th Novem­ber 2002.

Bernanke, Ben S. “Defla­tion: Mak­ing Sure “It” Doesn’t Hap­pen Here ‚” The Fed­eral Reserve Board, 21st Novem­ber 2002.

Crescenzi, Tony. “Hous­ing Bub­ble? That’s Crazy Talk,” The Street, 26th April 2002.



Baker, Ger­ard. “Wel­come to ‘the Great Mod­er­a­tion’,” Times Online, 19th Jan­u­ary 2007.