So we are going to have a summit about the state of the Australian housing market? Do we really need a summit to tell us the bleeding obvious? That housing is extraordinarily […]
ECB Watch: Christine explains why ‘savers’ get nothing
It is always touching when a Central Banker takes a moment to tell the public how much they care. It is hard not to “tear up” and reach for a hanky as […]
RBA Watch: The RBA likes asset bubbles not a weak AUD.
Macrobusiness posed the question today of whether the RBA will hike rates and concluded that it was very unlikely that the RBA will increase rates before 2024 “Why the RBA will NOT […]
RBA Watch – End the Bank monopoly of the Reserve Bank of Australia NOW!
Recently the Glass Pyramid has received requests to provide an explanation of MyRBA that is easily explained and digested over a few crackers and a bowl of hummus or perhaps a beer […]
RBA Watch: Central Bank Digital Currency on the way!
Apologies for the blatant click bait headline, but the idea that the RBA would be offering anything in the way of monetary reform is just so outlandish that we were confident that […]
COVID-19: The perfect time for Trickle-Up economics and MyRBA
The newspapers are packed to the gills with bad news about COVID-19. In particular the challenges it presents for the Australian economy where our preferred economic model of pumping up house prices, […]
MyRBA: Letting 100 monetary flowers bloom
One question that has been asked about the MyRBA proposal is whether introducing MyRBA risks creating an oppressive “state” money monopoly that a big socialist government run by elites might use to […]
Bank Watch: Essential Bootcamp equipment
A regular Bootcamp in the local park usually involves some basic fitness equipment including slam balls, kettle balls and battle ropes. Bootcamp for bankers is no different and the following is an […]
Bank Watch: Bootcamp for bankers
Aussie Banks don’t need to be given the boot but they do need a Bootcamp….. to get the flab off and improve their fitness. The best way to get our bankers fit […]
RBA Watch: The Lowe down on Magic Money
It had to happen. Once Alan Kohler was talking up the wonders of Magic Money on national television, it was only a matter of time before the RBA would strike back….hard. After […]
MyRBA: Bank Bail-ins? Problem solved
Earlier this week the ABC posted an interesting and lengthy article headlined “Coronavirus heightens fears bank deposits could be wiped out under ‘ambiguous’ laws” . The subject matter of the article was […]
MyRBA: The first stop for government payments
The last article discussed the importance of reforming the Reserve Bank of Australia (RBA) and allowing ALL Australians (and not just the banks) to open and operate deposit accounts (MyRBA) at the […]
RBA Watch: Ending the bank monopoly of the RBA
As the COVID-19 pandemic drags on and Victoria enters a new period of stage 3 restrictions the penny is starting to drop that the economic implications are likely to be profound. Now […]
Population Ponzi and our broken monetary cartel
Something else that cannot grow when Australian wages and incomes per capita stagnate is household DEBT per capita ……unless interest rates and lending standards fall. And when household debt can no longer […]
Sydney Water Watch: A thirst for profit
One of the more puzzling mysteries is the refusal of the media (Sydney Morning Herald , News Limited etc) to talk about Sydney’s looming water shortages and the role of high rates […]
Auction Action – 17/11: The Royal Commission is back!
Another tough week for the Sydney property market and the delicate but immaculately dressed ecosystem that feeds on it. Hammer time hit a depressing 10% of listed auctions despite a week of […]
Auction Action – 10/11: Josh waves the white flag!
Well that did not take long. Only a week after Auction Action warned in “We will make you pay” that the private banks were “crunching credit” to teach us a lesson about […]
Fixing Oz Banks Pt 7: What should be the role of the RBA?
It is time to have a closer look at the Reserve Bank of Australia “RBA” as any serious reform of the role of the private banks in the Australian monetary system must […]
Auction Action – 28/10: Call a plumber!!
It is time to call a plumber! One that specialises in unclogging the credit pipes that until recently were drenching Sydney property markets with fresh sprays of ‘wealth creating’ private bank credit. […]
Updated! – ALP and Negative Gearing: Why risk it?
This week saw a major wave of attacks on the ALP proposed reforms to negative gearing and capital gains tax. One thing is certain this is just a taste of things […]
Fixing Oz Banks Pt 6: Making a difference?…a response to Joe
One of the most common ‘themes’ in questions received in the Glass Pyramid pigeon-post landing zone concerns whether any change is really possible. How can anyone really hope to disrupt the well […]
RBA Watch: Unintended and Intended consequences!
Assistant Governor Luci Ellis was back on the podium this week providing some guidance on the ways in which ‘growth’ is supported in the short run and long run in the land […]
Auction Action – 14/10: Wet and miserable
It was a day of sun and shadows in Sydney this week. Bursts of sunshine, miserable drizzle and then some late heavy showers. Not the kind of weather to shake off […]
Auction Action – 7/10: How crook is the housing market?
Doesn’t time fly. It has been over 2 years since the last “Auction Action” on the Glass Pyramid. In June 2016 the Sydney property market was bubbling away furiously as noted in […]
RBA Watch – Money Money Money!
Following in the path of other Central Banks, the Reserve Bank of Australia has released a brief meditation on the nature of money. In Sydney this week, Assistant Governor, Christopher Kent spoke […]
Fixing Oz Banks Pt 5: What happens next….more small steps.
This is part 5 of the multi-part series “Fixing Oz Banks”. Earlier parts appear below: Part 1 – Fixing Oz Banks: Why is “taking deposits” so important to bank “lending”? Part […]
100% safety for your savings? The RBA will not allow it.
Most Australians do not realise that the Reserve Bank of Australia ‘RBA’ is the safest bank in Australia and yet it refuses to allow the general public to open a deposit account. […]
Fixing Oz Banks Pt 4: One small step at a time
This is part 4 of the multi-part series “Fixing Oz Banks”. Earlier parts appear below: Part 1 – Fixing Oz Banks: Why is “taking deposits” so important to bank “lending”? Part […]
Fixing Oz Banks Pt 3: The best way to create deposits? – The RBA v the private banks
This is part 3 of the multi-part series “Fixing Oz Banks”. Earlier parts appear below: Part 1 – Fixing Oz Banks: Why is “taking deposits” so important to bank “lending”? Part […]
Fixing Oz Banks Pt 2: Banks ‘leaning’ on the public
In the previous post “Fixing Oz Banks: Why is “taking deposits” so important to bank “lending”?” we considered the features of banks that make them “special” and different to non-banks. Those features include: […]
Fixing Oz Banks Pt 1: Why is “taking deposits” so important to bank “lending”?
Recent Glass Pyramids posts “MyRBA: Banking without the banks” and “Fixing Oz Banks: The critical Bank Royal Commission reform” have discussed some major reforms to Australian banking including the introduction of MyRBA […]
Fixing Oz Banks: The critical Bank Royal Commission reform
The Banking Royal Commission is still in full flight and doing a great job turning a spotlight on the rotten, murky and often crooked Australian banking system but one desperately needed reform […]
Trade Wars: Working with China to fight “vested interests”
This recent Glass Pyramid post “Trade Wars – Easy to stop and even easier to avoid” discussed how trade wars are not determined by the unilateral actions of one country. The post […]
Trade Wars! Easy to stop and even easier to avoid
Nothing sells newspapers like using the word “WAR” in a headline in a large font. Even if the most dramatic feature of the mighty conflict is a small tariff on a shipment […]
Crystal Balls – When will Aussie house prices crash?
Nothing generates more interest in living rooms across Australia than predictions about the future of the Great Australian House Price bubble. Generally the Glass Pyramid avoids this “popcorn” pastime, and today is […]
Fixing Public Money: Is a Gold Standard the solution?
One thing that is increasingly obvious is that the current model used by much of the world for managing public monetary systems is fundamentally broken. Instead of serving the public interest modern […]
MyRBA: Banking without the banks
There were always limits to what the Banking Royal Commission could do in the time available and within the restrictive terms of reference set by Prime Minister Malcolm Turnbull. However, one thing […]
Another dud FTA deal: Aus-EU-FTA is on the way
After a dismal record of failure, the enthusiasm of the ideological extremists in the Turnbull government for Free Trade Agreements is as strong as ever. They are now proposing that Australia […]
Building a Big Australia…… the honest way.
The debate about how big the population of Australia should be and how quickly we get there would be a lot more civilised if those promoting a Big Australia were more honest […]
How a National Export Volume Auction (NEVA) could help Western Australia.
The people of Western Australia have long been irritated by the entitled attitudes of the ‘Eastern States” and Canberra and often with good reason. With the rise of neoliberalism, the Australian economic […]
How to fix what the Banking Royal Commission has found is broken
While most Australians have been shocked by the dodgy, crooked and corrupt practices that have been revealed by the Banking Royal Commission, there is a widespread view that after a bit of […]
Will the Banking Royal Commission ‘pop’ the Liberal Party’s housing bubble?
The Banking Royal Commission has been dredging up more banking and finance muck than a plumber’s sewer pump, with the government complaining and making excuses every step of the way. Will this […]
Parramatta to Epping Metro: Time for action
No more lame excuses. The NSW Premier Gladys Berejiklian must commit to starting work on the Metro to Parramatta (via Epping) this year while the Epping to Chatswood line is shut down […]
Fixing the Parramatta Light Rail fiasco and public transport vandalism.
The proposed Parramatta Light Rail is a complete fiasco. The cost is blowing out to $3.5 B ……which makes blowing $2.5B on rebuilding 3 stadiums sound like good value! A historic pub will […]
The Greens and our Banking “problem”
After watching the speech by Leader of the Greens Richard Di Natale at the National Press Club yesterday it is clear that the Greens understand the importance of fixing our Australian banking […]
APRA and the Oz house price bubble
This morning Macrobusiness neatly contrasted The Australian’s coverage of the evidence of Mr Wayner Byers, head of APRA, to the House Economics Committee, “..Mr Byres said APRA was not responsible for policing much of […]
Debt-ogenics: Why was it harder to get a home loan in the 1980’s?
Why was it harder to get a home loan in the 1980s? Back in the “olden days” there was still a very good understanding of the economic significance of private bank credit […]
The “Private Banking Apologist” Weekend Challenge
Yes it is back !. Last weekend saw some reliable ‘go to’ private banking enthusiasts plunge in and splash around at the shallow end of the pool but with few useful contributions. […]
Australia fixed it’s gun problem: Now it should fix it’s ‘private bank’ problem.
One of the most effective lines peddled by the National Rifle Association ‘NRA’ in the USA in relation to gun regulation is that guns don’t kill people, people kill people. The NRA […]
Renting in Australia: Some signs of health
SQM has. published new data on the level is vacancies in the rental markets across Australia. http://www.sqmresearch.com.au/graph_vacancy.php?region=nsw%3A%3ASydney&type=c&t=q Signs of improvement in Sydney (2.6%) and Brisbane (3.8%) but still tight as ever in […]