global financial crisis


The “decade since the GFC” pieces that have proliferated of late have been, overall, fairly mediocre. There’s plenty on the high drama of 2008 as Wall Street giants trembled and, in some cases, fell, but precious little quality analysis of the outcomes.

Matt Taibbi’s essay in Rolling Stone was an exception. As was this piece, from CNN’s Lydia DePillis, on how the US has failed to learn from the crisis and how the country is still badly economically scarred. Locally, Wayne Swan — who with Kevin Rudd and the Treasury and Reserve Bank leadership prevented Australia from succumbing to recession — made some excellent points for us at Crikey. And from the UK, a new book on how routine financial crises actually are.


Noted doxxer and Cities Minister Alan Tudge has lately styled himself “congestion buster” in his new portfolio. It’s an odd image given congestion is more like a clogged artery that is only amenable to lifestyle change and difficult choices, rather than being dynamited. The most efficacious lifestyle change, as we’ve long known, is road pricing.