The Dad’s Army of Oz Economics are befuddled.

An excellent read at Macrobusiness this morning

But on this occasion, I am a bit biased

“And is keeping that spiggot open a solution, Gotti? Self-evidently, not.

It’s not the content of these ramblings that matter, it’s the tone and narrowness of the perspectives. These are clunking cogs spinning off axis in a failing machine. Commenter Pfh007 summarised it beautifully this morning:”

Also in slightly modified form 

Economics: The BOS index (beads of sweat) is reaching new highs

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

Expect things to get very incoherent as a defunct economic model (neo-lib attitudes to trade and capital flows) crashes into the politics of recession (worried locals without enough income to pay their debts and buy the necessities).

Exhibits

  1. Mr Robb signing predatory capital inflow facilitation agreements (FTAs) to assist the FIRE industries that export – capital assets, industry, land and financial claims on public and private income AT THE SAME TIME as Continue reading

Mr Hockey – Subservience to offshore bankers has been core LNP policy since 1996.

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

Joe Hockey is either having a lend or is as ignorant as he seems when he makes statements to the effect that he is genuinely concerned about Australia being “subservient” to overseas bankers.

Being subservient to overseas bankers has been core LNP policy since the Howard era when those overseas bankers became the source of the interest rates that will “always be lower” under a LNP government.

Of course the ALP joined in the shameless Continue reading

Land mines on the road to ZIRP

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

Excellent.

However, the final reel of this movie is much more exciting than you suggest.

Keep in mind that the point of these interest rates cuts by Central Banks is not about another platoon of export industry factory workers heading off to the currency wars.

It is about Continue reading

Will APRA-Man save us? Does he really care?

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

APRA-man certainly has the powers required and not just the spoon bending stuff like macro prudential.

APRA-man can slow the polluted torrents of unproductive capital flooding through our borders from the currency war wastelands and eventually plug the holes tight like a little Dutch Boy.  Unleashing those powers is simple as well.

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If only the public debate about the economy could move on to solutions.

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

Unfortunately, while the end of the neo-liberal monetary policy epoch – including the outsourcing of economic management to ‘independent’ Central bankers – is crumbling before our eyes and is obvious to just about everyone who visits these pages or takes more than a passing interest in economics, that fact is only starting to be understood out in the broader economic community.

The general public have no idea.   The politicians have no idea – just beads of sweat and an ongoing feeling of panic.

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Quarantine Breakdown: Infected capital imports are just as bad as infected berry imports.

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

It is not really surprising that we are finding diseased, and unhealthy goods entering the country considering the open door policy we currently have with regard to unhealthy and unproductive capital inflows.

What is ironic is that we actually have more regulations restricting the entry of local goods into the market.  In effect we have quasi quarantine laws that ONLY apply to domestic goods.  Liberalising trade is a good thing providing that two things are kept in mind.

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Land use restrictions give regions the rough end of the stick.

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

Land use restrictions should be relaxed right across the country.

Rather than the current approach where a use is banned unless it is permitted a better approach is that all uses are permitted unless they are specifically banned. That would allow change of use as needs change except for changes to the small category of restricted or banned uses.

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Govt – Land Banker (Gouger) in Chief

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

The worst land banking offender is the govt.

Ever since the model of outsourcing government expenditure to the household balance sheet was adopted in the mid 1990s, governments have worked hard to:

1. Keep the housing hold debt carrying capacity nice and fat by restricting supply – and if desperate importing demand from foreign buyers.

2. Come up with more inventive ways of extracting from household wallets as much of the debt taken on as possible.

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Scott Morrison for PM? Seriously?

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

Is he pragmatic enough to understand that repeating IPA talking points and working through the IPA ‘crash through AND crash’ recipe is the fast track to opposition.

https://ipa.org.au/publications/2080/be-like-gough-75-radical-ideas-to-transform-australia

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