The Glass Pyramid

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 […]

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 […]

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 […]

A lot of people spend a lot of time engaging in the reading of Chinese government tea leaves. It is the modern equivalent of the Cold War exercise of Kreminology where platoons […]

Are you completely fed up with Australian politics? Fed up with career politicians who can’t even read the constitution and renounce claims to privileges granted to them by foreign powers? Fed up […]

The Bank of American Merrill Lynch reportedly thinks the RBA monetary policy lever might be broken, while many other are concerned that the rising levels of interest bearing public debt incurred by […]

Macrobusiness ran a post today about a suggestion that Central Banks like The Reserve Bank of Australia should target nominal GDP growth.  The article was critical of the proposal and identified the […]

Columns by Mr Pascoe are always entertaining and fun to read, and when the drive to catch eye balls is in harmony with talking sense they can be powerful medicine. In his […]

South Australian Premier Jay Weatherill correctly rejects a population Ponzi scheme as an economic plan for South Australia’s future. The biggest challenge facing South Australia and other regional parts of Australia is the preferred […]

25% of all new housing construction in NSW is sold to a foreign buyer.  In addition there are many sales of existing houses and apartments to the hundreds of thousands of foreign […]

In an article published by the Guardian today John Quiggin discusses whether “Socialism” may find new support now that the flaws in neoliberal economics are becoming impossible to ignore. A lively discussion […]

Macrobusiness reported the latest ABS release on demographics. “…….The ABS released its Australian demographic statistics for the March quarter of 2017, which revealed that Australia’s overall population growth rate has accelerated led […]

So the end of Australian car manufacturing has arrived with closures of both the Toyota and Holden plants to take place by the end of October. Next year Australians will buy close […]

The Australian Financial Review has been providing a lot of ‘supportive’ coverage for the promoters of the new  “Build to Let” housing model. Now that it appears that Mr Scott Morrison is […]

Colonialism is often in the news and as a ‘former’ colony Australians might have some sympathy for the Indian perspective presented by Shashi Tharoor for the affirmative side of this debate “Does […]

It is that day of the month when the RBA board meets to pluck some wings off bats, boil them with eyes of newt and distil the resulting mixture down to an […]

The latest “instant noodle” solution to Australia’s housing affordability crisis is “Build to rent”. Rather than have “normal” people be able to buy a block of land in one of the largest […]

So the Turnbull government is blowing itself up day by day and poll by poll. It seems as though fanatics in the government cannot wait for the policy ‘purity’ opportunities of being […]

Decentralisation is only a pipe dream whilst we are running an economic model and strategy that has centralisation baked in. Bernard Salt and George Megalogenous continually ignore what is driving the population […]

A report in Bloomberg states that there is talk that the US Federal Reserve ‘might’ start reducing its $7 Trillion dollar mountain of mortgage backed securities. This rumour concerns one of the […]

Today on Macrobusiness.com.au another excellent Deep T journey down through the house of mirrors that is APRA’s regulation of Australian private bank credit creation. Unquestionably absurd. If a casual observer thought this APRA […]

The “balanced budget paradox” is an interesting paradox as the implications of it are obvious but many remain oblivious to them. It would seem that hiding in plain sight remains an excellent […]

Anna Bligh, in her new role in political retirement as spruiker in chief for the interests of the Australian private banks, gave a speech yesterday at the Australian Press club in Canberra. […]

Mr Bowen, the Shadow Treasurer, has given a speech in which he is reported to have made clear that a Royal Commission into banking must be thorough and carefully look at the banking […]

Nothing like an industrial grade testing of the gag reflex first thing on a Monday morning! A flock of recently retired senior politicians from the major parties are out and about, with […]

Are the Greens on a slide that ends in oblivion or just suffering a loss of direction? Across the land many are wondering. Everyday, the Greens become more and more like the […]

Over the weekend regular MB commenter “footsore” linked to an article regarding usury (charging of interest) and how and why it become ‘respectable’  (**cough cough**) after a long history of prohibition, restriction and […]

This morning on Macrobusiness there was a call for the state governments across Australia to work together to support a Bank Levy that is distributed to the states and not Canberra. “..The […]

Only 6 weeks to go before Western Sydney drivers find their wallets feel a lot lighter each week as the NSW government turns on those new toll readers over the M4 near […]

Decentralisation?   The dream throughout Australia’s history and a key driver for the creation of Canberra and the government investment in Albury Wodonga in the 1970s. Today the dream lives on as […]

Michael Pascoe spent some time last week arguing that having APRA do something useful for a change,  i.e. restrict unproductive credit creation by our big 5 taxpayer guaranteed banks, was a bad […]

Macrobusiness this morning really got stuck into the rotten state of Australian political economy.  Hurrah! The Glass Pyramid made the following contribution to the ensuing debate.

Footsore Cheers for that. It was an interesting interview and well worth the time. http://www.debtdeflation.com/blogs/2016/12/13/prof-steve-keen-on-private-debt-and-his-solution-peoples-qe/ Though I am surprised that Steve Keen is still pushing the idea of a “Debt Jubilee” as […]

It has been a busy week at the Glass Pyramid as a cloud of confusing and obfuscating commentary on “Foreign Debt” has again descended on the nation. Never have so few worked […]

We don’t hear too much about “foreign debt” these days. Neither the foreign debts owed by our private companies and private banks nor the foreign debts owed by our governments especially the […]

The following comment was made in response to a comment at Macrobusiness EP, “..The slightest withdrawal of the economic stimulant (debt) plunges an economy into depressive conditions…” “..There are other forms of […]

It was good to see the ALP making an effort this week to extract data from a reluctant NSW Government about the level of foreign citizen buying of housing and land in […]

It always sounds odd to argue that we need a lower $AUD but the ‘value’ of the $AUD is very important in determining whether or not Australia becomes a Banana Republic. People […]

NEWSFLASH   – Since publishing this post on Saturday there has been a flurry of activity by the State Government, as some foreign buyer data for the period July through September 2016 […]

The papers are full of stories about Australian companies being gouged and charged top dollar for LNG supplies at the same time as a bunch of international companies extract our gas reserves […]

Sorry there was a typo in that headline. “Bank CEOs deny Australian Housing is in a bubble” is what it should have said but in terms of denying the obvious it is […]

An excellent interview from Renegade Inc. Professor Richard Werner and David Buik talk with the host Ross Ashcroft about what is wrong with modern banking – especially in the UK. Plenty of […]