Treasurer Watch: Mr Morrison can save Australia – a 3 Step Plan

Due to the sudden ascension of Mr Morrison into the position of “Treasurer of Australia”, the Glass Pyramid has been forced over the last week or so to recycle some briefing papers that TGP operatives had prepared for the previous guardian of the commonwealth coin jar:

While the TGP is confident that Mr Morrison will have appreciated the spirit in which those ‘old’ papers were offered, and will have spent many a moment highlighting them and scribbling notes in the margins while being whisked to and from the studios of 2GB, TGP operatives felt that it was time to put together a more personalised briefing note for Mr Morrison that might appeal to his preference for punchy, positive plans for action and would be likely to lift spirits across Australia – or at least from Heathcote to Tom Ugly’s Bridge.

Mr Morrison’s 3 Step Plan to save Australia

So here it is  – a simple 3 Step Plan to save Australia – economically speaking. Continue reading

ChAFTA Watch: The principles for assessing “Good” Free Trade Agreements.

There is oodles of debate in the media about whether ChAFTA is a dud deal or in the national interest.

To assist the debate the Glass Pyramid has released “fresh from the oven” some fundamental principles for assessing Free Trade Agreements.

Principles for assessing Free Trade Agreements.

1. Each country should have a limited and equal right to invest in the other – this includes acquisition of assets and IOUs issued by the public or private sector.

2.  While balanced levels of reciprocal investment are preferred, no further investment is allowed by a country in the other if its level of investment exceeds that of the other country by more than 20%. That means that if China buys $100B of Australian assets or IOUs (from our banking systems or govt bonds) Australia is limited to buying no more than $120B in Chinese assets until the level of Chinese investment in Australia increases.

3.  The movement of goods and services between the two countries should be largely free without tariff or quota.

The key principles are 1 and 2 which concern the level of investment.  Investment is a critical issue in FTAs but too often is ignored or the implications not appreciated. Continue reading

Film Night at TGP: Central Banking from the Black Lagoon

The Glass Pyramid film lounge is pleased to present (i.e. found it on Youtube) for your viewing enjoyment Professor Richard Werner’s “Princes of the Yen“.    

Grab a Pina Colada and settle back!

If you have ever wondered how Japan managed to develop a massive asset bubble in the 1980s and, perhaps more worthy of wonder, wondered why they are still struggling with its aftermath 20+ years later this documentary contains more than a few answers.

To quote the details provided on Youtube

“Princes of the Yen: Central Banks and the Transformation of the Economy” reveals how Japanese society was transformed to suit the agenda and desire of powerful interest groups, and how citizens were kept entirely in the dark about this.

Based on a book by Professor Richard Werner, a visiting researcher at the Bank of Japan during the 90s crash, during which the stock market dropped by 80% and house prices by up to 84%. The film uncovers the real cause of this extraordinary period in recent Japanese history.

Making extensive use of archival footage and TV appearances of Richard Werner from the time, the viewer is guided to a new understanding of what makes the world tick. And discovers that what happened in Japan almost 25 years ago is again repeating itself in Europe. To understand how, why and by whom, watch this film.

“Princes of the Yen” is an unprecedented challenge to today’s dominant ideological belief system, and the control levers that underpin it. Piece by piece, reality is deconstructed to reveal the world as it is, not as those in power would like us to believe that it is.

“Because only power that is hidden is power that endures.”

A film by Michael Oswald

You can follow Richard Werner (Author of the Book) on Twitter at @ProfessorWerner