There wasn’t much left for Reserve Bank Governor, Glenn Stevens to say at today’s appearance before the the House of Reps Economics Committee.
Credit crunch
Rundle: The rust economy shifts from shrug to fear
With simultaneously two presidents and no president, the country seems stuck in those few moments before a car smash when it’s all started happening and there’s nothing you can do. Will the airbag save us? Not likely – he’s moving to Dallas with Laura, writes Guy Rundle.
Economy wrap: the world in recession
The grim economic news continues to pour in with the global downturn gathering steam, writes Glenn Dyer.
Real economy: Micky D’s doom, dining-out dudded, Spamburger returns
The grim culinary indicators keep emerging from the US and with the traditional gorging season kicking off tonight, American consumers can expect grim tidings, writes Glenn Dyer and Andrew Crook
Who’ll get to tackle the monster US budget deficit?
Whoever the new President of the United States is, they will have to deal with US budget deficit, writes Glenn Dyer.
Morrie Newman’s letter to the editor
Maurice Newman’s letter this week to The Economist magazine seeks to excuse the banking and finance classes from any responsibility for the subprime disaster and credit crunch, writes Glenn Dyer.
Climate of greed: from Easter Island to Manhattan
The looming ecological crisis will make the current financial pain look trivial, writes Andrew Glikson.
Kevin Rudd’s War on Greed
Kevin Rudd is coming after the greedy. And he’ll be packing heat, writes Bernard Keane.
Can the Murdoch and Fairfax families support their debt laden public empires?
Whilst it is all very well for The Australian to plaster pictures of overpaid bankers across the front page, News Corp shareholders should be demanding that their leaders take a huge salary cut in 2008-09, writes Stephen Mayne.
Kohler: If you’re not fearful, you’re crazy
“If you are not fearful, you’re crazy.” That’s what JPMorgan chief Jamie Dimon said last night during his third quarter results conference call, writes Alan Kohler.
Rudd’s plasma and pokies package
Let’s call it the plasma and pokies package, and be damned for our cynicism, writes Bernard Keane.
Murdoch suffers from Wall St crash, but you wouldn’t read about it
It hasn’t been a brilliant crisis for Rupert Murdoch, but you wouldn’t read about it in any of his journals, writes Glenn Dyer.
The reckless stimulus package we didn’t need
What on earth is the Rudd Government doing blowing $10 billion in largely unproductive welfare payments? asks Stephen Mayne.
Can everyone calm the fudge down about the economy?
Between a media anxious to play up the drama and self-interested representatives of the financial sector, you’d get the impression the only rational response to the crisis is unrestrained panic, writes Bernard Keane.
Morning Market Report
Marcus Padley reports on the highs and lows of today’s markets.
Commentary we had to have: Keating on rates, ratings and ratchets
Former Prime Minister Paul Keating spoke this morning with the ABC radio’s Ali Moore.
We’ll bail out Wall St, but let’s leave climate change to the market
President Bush and his supporters can find $700 billion to spend on a war of choice and Wall Street. Yet, when it comes to climate change there’s no option but to let market forces do their work, writes Jeff Sparrow.
Central banks combine to, well, save the world
Oh no, here comes another bail out. Glenn Dyer reports on the action taken overnight by central banks to stave off global financial ruin.
So what can $US180 billion buy you? A Crikey index.
Overnight the Federal Reserve and the world’s other major central banks collectively pumped 180 billion US bucks into the ailing global markets. That amount of money is so mindboggling that we at Crikey decided to try to put all those zeros into context.
As Wall St workers go down blogging, Lehman bros merch hits eBay
The chatter on the web about the collapse of Lehman Bros and the bailout of AIG offers a fascinating snapshot of the chaos on Wall St that goes beyond the obligatory shots of employees carrying cardboard boxes…
Global market wrap: In a word, panic
Global markets overnight and into today have continued their mad scramble for order, writes Glenn Dyer.
HBOS and Lloyds merge as Wall Street tumult reaches UK
After a week on Wall Street that made history for all the wrong reasons, we are back in the UK where the latest casualty is a major bank, writes Glenn Dyer.
Front page wrap: The Wall St meltdown
The world’s front pages have screamed panic as Wall Street continues to melt…
Commentariat: No sympathy for the Wall Street devils
No sympathy for the devils … After 73 years, the last gasp of the broker-dealer … A sense that Wall St.’s boom times are over … The resilience of American finance … How not to lose everything.
