Articles by Alan Kohler

Most of the time derivatives aren’t financial hedges at all, but bets brokered by liars masquerading as advisers. Law makers should follow the Lehman judgement and label them accordingly.

Treasurer Wayne Swan delivered Australia’s 2012-11 financial year performance yesterday — with a bucket-load of spin. If only business CFOs could get away with it …

Tony Abbott likely advocates individual workplace contracts with a no disadvantage test. But the Coalition has turned national debate into such a caricature it’s impossible for anyone to state their true position.

As Labor begins the process of defusing carbon tax and asylum seeker policy as election issues, Tony Abbott’s task will become increasingly painful. Does Labor improve from here?

Amongst the energetic debate about rising power prices a key point is being missed – they’re saving us from deflation.

To compete with high-frequency algorithms, brokers are conducting trades in “dark pools”. It’s time for transparency across the bourse.

After being walloped on climate change and refugee politics, Labor has wisely opted to move the political debate back to its strength, where it hopes to sideline the Greens and put Tony Abbott on the back foot.

ASIC’s Greg Medcraft wants to change the rules for takeovers, but while a “put up or shut up” rule might reduce bear hugs such as that felt by Spotless, there’s no real problem to solve with new creep provisions.

The problem with depressions is that you tend to get caught up in the minutiae of the moment — the gripping Libor-rigging scandal, the latest writhe in the agony of Europe, the latest twitch in the US economy.

With global banking prices purposely massaged by both central and privately owned banks, we shouldn’t be surprised corruption sometimes sneaks in. But why don’t we question manipulation of the Australian cash rate?

As governments from both sides of politics work with Alcoa to save jobs, journalists are left to fend for themselves.

If only we could talk the economy up or down, the PM’s economic forum might have some effect. But it’s unlikely to change the disconnect between strong numbers and reality on the ground.

The Spanish bank bailout may have taken some heat out of the European crisis, but it’s likely to be short lived as Italy’s debt trap reminds the world why it should never have been admitted to the EMU.

Central bankers and politicians, including Wayne Swan, are trying to spin low interest rates as a good thing in an effort to calm the markets. But the reality is the European Monetary Union doesn’t work.

As the principal creditor to the eurozone, Germany is seriously exposed to the European monetary system, making a German exit from the eurozone perhaps more likely than a Greek or Spanish exit.