Prof. Ross Garnaut gave the Hamer Oration at Melbourne University on Thursday. He pointed out that Australia has not experienced a recession for 17 years, a record for The Lucky Country. Such a period of unbroken growth is not just an Australian record, it is a world record. But one-way tickets have built-in risks for [...]
Now you’ve seen Steve Keen deliver a damaging analysis on the 7.30 report, listen to Professor Mason Gaffney call a Great Depression (on yesterday’s Renegade Economists) and why current economic policy will only prolong the negative outlook. Dr. Michael Hudson was Chief Economic Policy Adviser for the Kucinich for President campaign in 2007. He gave [...]
photo credit: sekundo Throw out the theory! That’s what policy makers are doing world-wide. From neo-liberalism to neo-handouts, one must ask what has happened to confidence in free market theory? Which leader in the western world will stand up? Failure to address the fundamental cause of this bust, the irrational expectations inherent in the lure [...]
photo credit: PhotoGraham That is the call as the bankers bailout of US$700bn gets rejected by US Congress. Meanwhile the US Fed has the printing presses running at just about as much – US$630bn. Kohler says: Essentially Congress has ensured that for the moment at least the crisis will be treated by money printing instead [...]
photo credit: betta design The $840bn bailout of US banks provides the US Treasury with a unique opportunity. Will the as yet unnamed new Federal agency (which we will call the Bailout Agency), charged with the responsibility for selling off the bad debts of risk-bending bankers, use this money to reduce the chance of future [...]
photo credit: amirjina Can someone please write in their diary June 2024? Because that’s when we are going to start warning about the next big bailout for bankers. If we do not learn from the horrors of this downturn and collect the economic rent that accrues to land, then the next 18 year cycle will [...]
photo credit: {dpade1337} The escalating US financial disaster is fast forwarding into a grapple for handouts, with the vested interests having the ear of the policy makers whilst the less privileged are left behind in a trail of bewilderment, attempting to grasp the unfolding situation one fragment of horrible data at a time. The call [...]