RBA assistant governor Philip Lowe said in a speech in Sydney yesterday that constraints on home building are restricting the supply of homes in Australia. The shortage is one factor keeping prices up. Nothing was said about the lending boom.
March 11th, 2010 | Dan Denning | 42 comments | ContinuedAll Posts Tagged With: "global credit"
Global Credit Shortage is Over According to European Central Bank
That all sounds like common sense. So why are so few policy makers using their head? The people who hope the global economy can be revived through a resumption of credit growth seem to forget that it was massive credit growth that created the problem (massive global imbalances, huge debt levels, and mal-investments) in the first place.
July 23rd, 2009 | Dan Denning | 2 comments | Continued