How we’re still stuck in a Berlin Wall mindsetEast and West Germany were the ultimate economic science experiments, a government controlled economy next to a free market, the free market emerging victorious. But is this black and white look at economics what got us into this GFC mess?
Global Financial Crisis 
Why increased worker productivity is bad for the economy
Worker productivity in the US has jumped dramatically by 9.5% in the last quarter. Employees working harder for less hours, just what the boss wants in a recession, right? Except, morale is down, productivity isn’t sustainable and workers are simply covering their colleagues who’ve been fired.
We’re kidding if we think the GFC scars won’t last
Simon Nasht goes on a world tour of economic carnage caused by the global financial crisis, from Wall Street’s trading floor to abandoned factories in China. Where does the world go to from here?
Government has lowered expectations on labour market success
In its panic the government has over-stimulated the economy and that fiscal mistake is going to have adverse consequences, writes Sinclair Davidson.
Dowd: Rush Limbaugh is immature and narcissistic
Shock jock Rush Limbaugh is one of the key media mouths of the Republican Party and he loves to insult at Obama. Too bad he forgets the actions of his good mate Dubya, because it wasn’t Obama who stuffed the economy or brought about the war in Iraq, notes Maureen Dowd.
Interest rate rise small change for mug punters
Yesterday’s interest rate rise was, in monetary terms, roughly what we spent yesterday per head losing on the Cup. And if we just offset the cost of all the hats and champagne with the lost working hours spent on office sweeps…
Where do economists go from here?
Even with all the great economic minds of the world, we didn’t avoid the global financial crisis. Stephanie Flanders speaks to some major economists about the way forward for world economies and the focus we need on behavioural economics.
Kelly: How next year will unfold for Wayne and Kevin
Avoiding a recession has become both a gift and a burden to the Rudd government, writes Paul Kelly. Expect a battle between managing the economy recovery and spending on big ticket election issues — climate change, health and households. Can Swan reign in spending?
Half of all American kids receive food stamps
It seems that food stamps aren’t just for those in the ghetto. A new study shows half of all US kids will receive food stamps at some time in their childhood. Even more disturbing, 90% of black children will use them.
Which bank? Definitely not a big one.
US investors lost confidence in large banks getting bailed out by the government. Community banks are cashing in and cleaning up, advertising directly to local customers angry about large CEO payouts and irresponsible investing.
Hartcher: Is Swan the anti-Keating?
Wayne Swan is acting a lot more modest over the Australian economy’s GFC rebound than Paul “the recession we had to have” Keating, writes Peter Hartcher. But it’s thanks to Keating and Peter Costello that we avoided further trouble
We’ve passed Wall St, next stop Hang Seng
Australian investors need to stop believing that Wall Street is god of the Australian economy, writes Michael Pascoe. We’ve survived the GFC, even if the US didn’t, and our focus should be on Asia.
revealed 
Goldman Sachs secretly banked on the US housing crash
How did Goldman Sachs emerge from the financial crisis in such good shape? By simultaneously selling more than $40 billion in mortgage-backed securities, while secretly betting that the US housing market would crash.
US pulls itself out of recession, but hold the champagne
US government figures show a growth rate of 3.5% in the third quarter, indicating that the debilitating US recession is no more. Too bad consumer confidence is down and so is faith in Obama’s ability to handle the economy.
ANZ out-gouges the NAB
Like the NAB, the ANZ has survived the financial crisis looking rudely health. Which is impressive, considering it suffered more damage from self-inflicted lending disasters than any of the Big Four.
Green shoots scepticism in the land of the greenback
Slowly some healthy scepticism about the strength of those worldwide green shoots is emerging in financial markets, but it’s nothing dramatic yet. The Aussie dollar fell slightly against the US dollar and Norway lifted interest rates.
Luxury brands tighten their crocodile skin belts
Versace are cutting a quarter of their workforce, Chanel also cut jobs, YSL has closed stores. It’s the smaller, family owned fashion houses that are really feeling the brunt of the tight arsed GFC shopper, while multi-brand players like Gucci and Louis Vuitton are still popping the champagne.
Kelly: Building the foundation of a viable nation
Infrastructure shouldn’t be a vote grabbing propaganda exercise, particularly since tough decisions need to be made to balance population growth. Rudd needs to recognised that infrastructure is more about economic reform than nation building, writes Paul Kelly.
Colebatch: Stop tooting your own horn Ken Henry, the economy ain’t that good
If the Australian economy passed the GFC test as Ken Henry claims, then we should expect government guarantees whenever financial markets cut off funds to Aussie lenders. This isn’t something to be proud of, writes Tim Colebatch.
Kohler: The disaster of a strong Aussie dollar
The rising Aussie dollar may be catastrophic for the manufacturing industry, writes Alan Kohler, and will seriously impact engineering and construction work. How will we cope?
Roubini: The next big crash is already underway
The global economy may appear to be in recovery, but people are borrowing at negative interest rates and investing in risky assets like commodities, equities and credit. We’re creating an even bigger bubble than before, says Nouriel Roubini.
How an Aussie billionaire got entangled in Berlusconi’s tax fraud
It’s a big year for Bruce Gordon of WIN Corporation. His magic touch helped WIN survive the GFC intact, but his business associations with Italian PM Silvio Berlusconi may see him embroiled in legal issues. How will the year pan out?
How Uncle Sam blew the trillion-dollar trade of century
Sure, the White House had no choice but to step in to save banks in the wake of the financial crisis, says Mark Fisher, but it failed to see the opportunity to make the trade of the century for the American taxpayer.
UK economists fail to see the recession on the wall
The UK economy is struggling, but not one of the hundreds of the economists in the UK markets picked the 0.40% fall in the UK’s economic growth in the September quarter.
Pursuit of economic growth is a failure
The pursuit of economic growth has failed. It has failed on its own terms, it has failed to deliver a good life for all, and it’s now in the process of destroying the planet, writes Professor Tim Jackson.
