photo credit: Sepperer Markus | www.weltraumsepp.blogspot.com We don’t think so. And neither does Dr Michael Hudson in this riveting interview (thanks to Guns and Butter, KPFA radio). Please listen. Forward this on. Hudson sums up the issues behind the credit crunch and the mystery behind the details of the bankers bailout in a damagingly direct manner. The world is at … Read More
Gordon Brown to the Rescue? video
Fred Harrison Press Conference at the Foreign Press Association, London
Reserve Cuts Interest Rates by a Whopping 1%
photo credit: azrainman Will it ever be learnt? The Greenspan playbook of cutting interest rates pushed the asset bubble ever higher and higher in the early to mid 90’s. Now Australia’s Reserve Bank governor Glenn Stephens is endeavouring to do the same. And gee whizz the markets rally. Surely this is an act of panic. Yet again a central bank … Read More
Land Supply chestnut rolled out again
photo credit: _temaki_ Buyers look for existing houses as land prices soar rolls out all the old chestnuts: Economic forecaster BIS Shrapnel says the demand for newly built houses is dropping off as the cost of land soars. It says the limited supply of new land has led to the growth in land prices outstripping the growth in house prices … Read More
Pumped Money Supply – No Wonder Oil Peaks
With oil surging $15 overnight to record levels for a single day’s trading, one wonders if economic theory is understood by Paulson’s panickers. With US$247 billion pumped into the global banking system over the last week by the world’s central banks to assist liquidity in the short term money market, one wonders why the US Fed now jumps to the … Read More