Rethinking risk in AmericaThe financial and economic crises stem from basic misjudgments about the nature of risk. It’s time Americans learnt to distinguish “risk” from “uncertainty”, says Mark Schmitt.
Economics
Re-writing the Great Depression
Economists look back to the Great Depression and find that everything we think we know about it is wrong — but this could be good news.
The Geithner plan: a Crikey wrap
Wall Street appears to have given US Treasury Secretary Timothy Geithner’s $1tn toxic assets plan the thumbs-up, with the Dow surging nearly 500 points on Monday. But what do the pundits think?
Rundle: we are all Swedes now
The global elite don’t have a clue what to do about this economic crisis, writes Guy Rundle.
Wall Street I: Australia won’t lose billions on AIG and Lehman
RBA Governor Glenn Steven’s remains confident that the pillars of the Australian banking system will not be undermined by the financial turmoil playing out on Wall Street, writes Glenn Dyer.
Saving Fannie and Freddy won’t solve US economic woes
Saving US mortgage giants Fannie Mae and Freddie Mac led to a brief rally on global markets, but that’s likely to be the extent of it, writes Glenn Dyer.
Glenn Stevens: Recession unlikely, jobless to rise
Speaking before a Parliamentary Committee, RBA Governor Glenn Stevens has given his economic outlook for the next six months. Glenn Dyer reports.
The real cost of the cutting the ABS budget
A questions the Opposition should ask Gleen Stevens as he fronts the Standing Committee on Economics today: what’s been the effect of cutting the ABS budget? By Glenn Dyer.
Richard Farmer’s political bite-sized meaty chunks
Meaty snippets from the home of government, Richard Farmer writes.
Why we won’t have a (real) recession
Australia’s slowing economy does not equate with recession, and doesn’t come even remotely close to economic hardship, writes Michael Pascoe.
Briefly Business: Global economics wrap
EU inflation on the rise … UK plunge continues … UK housing woes hit the banks … Unilever profits head south.
How Fannie and Freddie changed Republicans into Democrats
So deep is trouble brought to the US economy, proud Republicans have begun acting like democrats in order to deal with it, writes Glenn Dyer.
