Comments on: Did RBA jump the gun? http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/ now with extra source Sun, 12 Feb 2012 02:48:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: rasta arlen http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40275 rasta arlen Wed, 07 Oct 2009 15:13:05 +0000 http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40275 I'm yet to see an economist other than Steve Keen say anything at all about the role private debt is going to play in the recovery, but it hard to disagree with his basic premise. For years our GDP growth has been fuelled by huge increases in private debt and the recovery is dependent on "consumers" being wiling to take on yet more debt. Perhaps they will for a little while but the elephant's still going to be hiding in the cupboard just waiting to burst out. I’m yet to see an economist other than Steve Keen say anything at all about the role private debt is going to play in the recovery, but it hard to disagree with his basic premise. For years our GDP growth has been fuelled by huge increases in private debt and the recovery is dependent on “consumers” being wiling to take on yet more debt. Perhaps they will for a little while but the elephant’s still going to be hiding in the cupboard just waiting to burst out.

]]> By: scottyea http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40255 scottyea Wed, 07 Oct 2009 08:44:36 +0000 http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40255 then again, on second thoughts it will give them a little more leverage later on........ when every tiny bit of leverage with be worth its weight in.... then again, on second thoughts it will give them a little more leverage later on…….. when every tiny bit of leverage with be worth its weight in….

]]> By: scottyea http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40254 scottyea Wed, 07 Oct 2009 08:41:55 +0000 http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40254 Jumped the gun? Totally, there's still truckloads of crap to hit the fan in the US.. less than half the bad debts there have been unwound... and there's no real trust, how can there be???....all that happened was the cups were moved around a bit again, as reassuringly as ever, but its the same game. Jumped the gun?

Totally, there’s still truckloads of crap to hit the fan in the US.. less than half the bad debts there have been unwound… and there’s no real trust, how can there be???….all that happened was the cups were moved around a bit again, as reassuringly as ever, but its the same game.

]]> By: John james http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40155 John james Wed, 07 Oct 2009 03:34:38 +0000 http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40155 Interesting to see a stimulatory fiscal policy working in tandem with a contractionary monetary strategy. I' m trying to get my head around what the 'end-point' is for each. Presumably the more money Rudd and Swan borrow, the greater the pressure on interest rates. Interesting to see a stimulatory fiscal policy working in tandem with a contractionary monetary strategy. I’ m trying to get my head around what the ‘end-point’ is for each.
Presumably the more money Rudd and Swan borrow, the greater the pressure on interest rates.

]]> By: Brian Kelly http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40136 Brian Kelly Wed, 07 Oct 2009 02:49:50 +0000 http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40136 Right on, Stephen. What credibility do these economists and pundits have? How many of them predicted the GFC? Why should we take any notice of their self-interested ramblings now? Don't they realise that they no longer rule the world? Those in management have now stepped into the breach to give us a whole new world of weasel words. Right on, Stephen. What credibility do these economists and pundits have? How many of them predicted the GFC? Why should we take any notice of their self-interested ramblings now? Don’t they realise that they no longer rule the world? Those in management have now stepped into the breach to give us a whole new world of weasel words.

]]> By: stephen http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40131 stephen Wed, 07 Oct 2009 02:31:01 +0000 http://www.crikey.com.au/2009/10/07/ask-the-economists-did-glenn-stevens-jump-the-gun/#comment-40131 I think Steve Keens blog link on the crikey site is sobering. His words (sic) "those who didn't see this (GFC) coming are now saying it's over", are more concerning than ever. I can't think which is more appropriate "the Emperor's New Clothes" or "the elephant in the room", or "monkey trap" when it comes to this wealth concentrating treadmill we're on that's fuelled by debt. and the belief in endless growth. Sure economics plays a part in delivering real bebefits, but which economics a best for now and the future? I think Steve Keens blog link on the crikey site is sobering. His words (sic) “those who didn’t see this (GFC) coming are now saying it’s over”, are more concerning than ever.
I can’t think which is more appropriate “the Emperor’s New Clothes” or “the elephant in the room”, or “monkey trap” when it comes to this wealth concentrating treadmill we’re on that’s fuelled by debt. and the belief in endless growth. Sure economics plays a part in delivering real bebefits, but which economics a best for now and the future?

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