Next Wednesday will see the release of the national accounts for June. Those figures will probably show the economy being less bad than previously expected. That might lead to the end of the “emergency setting” of the RBA cash rate at 3%, which will precipitate the decline and fall…
August 28th, 2009 | Dan Denning | 92 comments | ContinuedAll Posts Tagged With: "congress"
A National Mortgage Bubble
This brings us to a quick point about the Aussie property market. A frequent complaint in the e-mail box is that house prices are a local and not national phenomenon. If that’s right, then it doesn’t make any sense to talk about a national property bubble…because there can’t be one, can there!?
August 11th, 2009 | Dan Denning | 2 comments | Continued
If Americans Do Not Return to Work, There Is No Recovery
We have rallied based on one of the largest and most concerted propaganda campaigns ever waged, supported by government stimulus. But no government can stimulate forever…
August 7th, 2009 | Bill Jenkins | 0 comments | Continued
In Europe, Banks Borrow Money and Lend it Back to the Government
The ECB loans money at low rates to the banks – hoping to encourage consumer and business lending. In June, for example, the banks borrowed 442 billion euros at a fixed interest rate of 1%. But lending to business and households is at its lowest level since record-keeping began…
July 30th, 2009 | Bill Bonner | 1 comment | Continued
The Economy is Getting Worse Not Better
Even at the time, it was obvious that the hacks in the administration had no idea what was going on. They were just guessing about the economy and taking advantage of the situation to pass out more money that taxpayers hadn’t even earned yet.
July 3rd, 2009 | Bill Bonner | 2 comments | Continued
Never-Ending Government Lies About Markets
The purpose of government is for those who run it to plunder those who do not. Throughout history, governments have used violence, intimidation, coercion, and mass murder to enforce this system. But governments’ first line of “defense” is always a blizzard of lies…
July 2nd, 2009 | Thomas DiLorenzo | 6 comments | Continued
Waxman-Markey Bill: Most Expensive Thing to Hit Economy Since Financial Crisis Began
Even the normally mild- mannered Wall Street Journal called it “one of the most ambitious efforts to re-engineer American social and economic behavior in decades, presenting risks and opportunities for a wide array of businesses from Silicon Valley to the coal fields of the Appalachians.”
June 5th, 2009 | Chris Mayer | 13 comments | Continued
Recession Where Short-term Benefits of Consumption Belie Long-term Debt Consequences
All of that added up to 0.4% GDP growth. That means that technically, Australia hasn’t had two consecutive quarters of “negative growth” and isn’t in a recession. That’s if you accept the technical definition of recessions, or if you’re a moron.
The numbers show reduced imports because consumers are scared.
June 4th, 2009 | Dan Denning | 10 comments | Continued
French Model of Economy Allows Meddling from the State
The French think they were right about everything. Iraq, for example. The French have deep ties to the Arab world. They knew Iraq would be a tar baby for the US – just like Algeria had been for them. You pick it up…you can’t put it down.
June 3rd, 2009 | Bill Bonner | 6 comments | Continued
Federal Government Making Taxpayers Pay Taxes for Nothing
Now, there are many definitions of nothing, most of them referring directly to me, as in “you are nothing as a husband, father, employee, neighbor, citizen or even a pale resemblance to a normal human being,” but in this particular case I am referring to all of the federal personal income taxes paid last year, net of refunds.
June 2nd, 2009 | Mogambo Guru | 0 comments | Continued