Andrew Robb seems to forget about the GFC, misunderstands government debt and has a grasp of economics akin to that of The Tele. So why is he a Coalition frontbencher?
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Three more years for Stevens at the RBA makes sense
After 22 years without a recession, Glenn Stevens deserves his new three-year RBA term. It’s been a good run, says MacroBusiness’ David Llewellyn-Smith, but his greatest test might be to come.
READ MOREWhy Australia’s house prices are anything but sensible
Beware those “experts” telling you there’s no housing bubble in Australia. There are similarities between the housing situation here and that of the US prior to the market’s collapse, argues researcher Philip Soos.
READ MOREGlowing Coe obits whitewash his shady business record
From all reports David Coe was a generous man, loved by friends and family, who died too young. But that doesn’t change the fact he presided (and personally benefited) from a massive corporate collapse.
READ MOREChristopher Pyne and the dangerous fantasy of surplus
The fantasy of surpluses peddled by the Coalition becomes dangerous when it substitutes for actual thinking about the economy.
READ MOREYoung Italians wrestle a job market that favours old, unfireable
The jobless rate for young Italians is now 35%. Some are starting companies, some swallowing their pride and taking jobs they hate — and some are turning to suicide, writes Josephine McKenna from Rome.
READ MORERichard Farmer’s chunky bits: Peter, Paul and nary a bad move
Thanks to Keating and Costello … Gillard on the bland side … The International Monetary Fund … A closer look at deep space …
READ MOREBankers mending their ways? No, they’ve gone wild
It’s now five years since the early warning signs of what would develop into the global financial crisis first started to show, and extraordinarily, there’s little evidence that bankers have mended their ways.
READ MOREBut wait, there’s more — criminal probe widens in Libor’s wake
As criminal probes into the Libor rate-rigging scandal multiply, bankers are becoming increasingly worried that they might finally be held to account for their role in the global financial crisis.
READ MOREBartholomeusz: Australia’s mass equities exodus
The latest Reserve Bank bulletin helps provide a better understanding of the extent of the financial crisis-inspired changes to the risk-appetites of households.
READ MOREA nation stuck on food stamps: three big hits to US economy
No wonder America is having trouble escaping the clutches of the subprime crisis, the GFC and recession it triggered. A study from the Federal Reserve reveals three big hits.
READ MOREKohler: Goldilocks and the three shocks
In the past one to two years, women aged 55-plus have suddenly gone online, en masse … and they control the nation’s purse strings.
READ MOREBudget marks a return to pre GFC orthodoxy
For a Labor federal budget this looks awfully like a set of Liberal numbers.
READ MOREEssential: Coalition needed for another global downturn
Australians acknowledge our relative economic health compared to the rest of the world, but wouldn’t trust Labor to lead us out of another economic downturn.
READ MOREThe luck of the Irish meets the lucky country
Ireland is broke and depressed. Two percent of the population has left since 2008, with Australia the number one destination for those emigrating. Eric Ellis interviews those about to flee.
READ MORENostalgianomics and the ongoing rewriting of economic history
The Coalition’s rewriting of economic history continues apace as part of its obsession with the Howard years.
READ MOREOur banks are too big to fail, too few to be competitive
Mark Bouris and Christopher Joye of Property Observer say policymaking around Australia’s banking system has been predicated on a flawed and risky paradigm.
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IMF offers grim growth
predictions
Crikey media wrap: Christine Lagarde, chief of the International Monetary Fund, likened current economic conditions to the Great Depression overnight, with new IMF figures predicting a downturn in global growth.
READ MOREKohler: an economic Test stumped for global growth
The Big Bash of the debt crisis looks to be over and we are now in the long grind of debt reduction and low growth. But the financial world hasn’t the patience for a five-day Test match.
READ MOREThe GFC and global health: why Australia needs to step up to the plate
The global financial crisis has hit promising work tackling the neglected diseases that affect the world’s poor, according to a new report, and Australia could be doing a lot more to assist, writes Mary Moran.
READ MORERundle in Rome: peoples of Europe rise up, and demand la dolce vita
Southern Europe has held to an entirely different conception of life, one in which full human beings still have room to breathe. As the Eurozone collapses, the people of Europe should look to them now for how to live.
READ MOREThe Nouriel Roubini CHOGM show
Nouriel Roubini, one of the handful of leading voices who “called” the GFC, flew into Perth this week for CHOGM and literally stole the show, writes James Kirby, of Business Spectator.
READ MOREBartholomeusz: banks battening down for funding freeze
According to Australian Prudential Regulation Authority chairman John Laker, bank funding markets are already demonstrating some crisis-like features.
READ MOREThe men who crashed the world
As the global markets continue to look shaky, it seems an appropriate time to check out this Al Jazeera documentary series Meltdown. Pull up a chair — it’s 40 minutes — and examine the world of greed and recklessness on Wall Street that brought us the Global Financial Crisis of 2007-08.
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