Greybeard and the Hipsters
It has been so long since the last recession 1990-91 that anyone who experienced it in business or the workforce is an old white guy – they are at best in their late 40’s and the beard sprouts grey. Let…
Tag depression
Lessons from Manhattan
photo credit: atomicshark “The devil is in the details.” German Proverb A fascinating paper on Manhattan real estate in the 1920-39 era shows why property went down, stayed down and didn’t recover in real terms until 1960. ‘Real Estate Prices…
Take your positions, please
A debate is a chance to crunch opposing views. Strong ideas advance and poor ones are discarded. Good. But when participants and audience have already made up their minds, fresh argument goes nowhere. The Money Institute’s big debate in Sydney…
The pain in falling land prices
photo credit: Travis S. The US housing market is a living hell. Homeowners are being boiled alive. The price of land was bid up to staggering multiples of incomes, until it no longer made sense to buy a house. And…
Dear Australia, the world is watching, waiting for our bubble to burst
photo credit: robertivanc The great property speculation game is over in America and Europe. The music has stopped. Forty years of steadily increasing pressure has been released. Houses are worth a fraction of what people paid in better times,…
Six Factors to Flip Negative Gearing into Negative Equity – Someone’s Going to Get Hurt
The Australian Tax Office has released figures on the extent of negative gearing in Australia ahead of the Henry Tax Review. This is no accident. They are preparing the ground for Ken Henry’s changes. The picture drawn is not…
Real estate bubble? Been here before
photo credit: dave_7 Polly Cleveland Economists conventionally attribute the Great Depression to blunders by the then-new Federal Reserve Bank. According to this story, promoted by Milton Friedman and the Chicago School, after the stock market crash of 1929, the Fed…
Hudson: Finance Capitalism Hits a Wall
photo credit: woodleywonderworks The Oligarchs’ Escape Plan – at the Treasury’s Expense By Prof. Michael Hudson see the original article and the growing list of comments on Information Clearinghouse The financial “wealth creation” game is over. Economies emerged from World…
US 3 Hours from Collapse – 18/09/08
Hat tips to Magnifico, with further analysis It heats up at 2.10 into the clip.
Fundamental Answers to Fundamental Questions
The economic depression: an occasional commentary # 4 10th January 2009 Bryan Kavanagh, LVRG [If you wish to keep things simple and ignore unnecessary explanation, please proceed to the final, italicised paragraph.] The form of reductionism that has provided DNA sequencing…