US pulls itself out of recession, but hold the champagneUS 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.
Global Financial Crisis 
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.
Australia: good at being poor, crap at being rich
Post GFC Australia is, well, pretty much the same as pre GFC Australia. The resources boom is still bubbling away, our relations with Asia continue to be crucial. Now, how will we cope with the prosperity?
Kohler: The last GFC shoe to drop?
The charges against Centro’s executives will have significant repercussions for future class actions. Expect an ASIC announcement exempting class actions having to register as managed investment schemes, writes Alan Kohler.
Riding the coattails of Asia’s success
Despite initially being the hardest hit by the GFC, Asian economies have proven more resilient than US and Europe. Manufacturers are hopping on board, exporting to developing countries like China and India and reaping the rewards.
Dial-a-success: iPhones push Apple profits up 46%
Does it seem like everywhere you look there are iPhones? Well, Apple have sold 7.6 million of them in the last quarter, helping raise profits by a whopping 46%. The US are still in a recession, right?
Spending borrowed monies leads to false bravado
If you were to believe world stock markets, the recession is drawing to a close, with the wisdom of government spending and global monetary easing spurring the world to another economic recovery. But the markets have long proven to be an unfaithful talisman.
How Australia dodged the GFC bullet
Pat on the bank everyone, Australia was the only developed country to miss a technical recession in the GFC. Major shout outs go to China, the banks and our growing population. But will other nations copy our recovery?
Pollies make terrible gardeners: let the economy grow
John Howard may have wasted the Aussie economy boom, but is Kevin Rudd now squandering the bust? This is Australia’s chance to stop the government funding the economy, writes Henry Ergas.
WSJ weighs in with "Aussie Mac" in the making
The Wall Street Journal has thrown its weight behind an Aussie Mac in the making, writes Joshua Gans. Should Australia review its financial regulations in light of future GFCs?
I’ll just have three bars of gold bullion, thanks
Now you can grab some gold bullions while picking up your groceries, with London department store Harrods stocking them. Bars of gold seem a safer bet than stocks and shares for worried private investors.
What the GFC failed to teach Wayne Swan
When Washington meddled in the mortgage market, the end result was the Global Financial Crisis. So why is the Rudd government continuing to invest in housing finance — and putting taxpayers at risk?
Stevens still sees the sunny side up
RBA Governor, Glenn Stevens, has rejected claims that the Australian economy is “too strong”. We may have escaped the global crunch but he’s determined not to fluff the recovery.
Hedge fund operators fiddled while investors burned
The secretive world of hedge funds disclosure has been exposed in a report published in the US, which reveals that up to half of funds and managements lied in their disclosure to customers and investors.
Speaka my language: a finalisation of the revitalisation of corporate communication
It’s no to next-generation scenarios and yes to plain English in business, especially since GFC blame is being laid on confusing corporate speak. Will Australia follow the US’s plans to introduce plain English rules?
