‘Don’t let it be forgot, that once there was a spot, for one brief shining moment, that was known as Camelot.’
Jackie Kennedy to Look Magazine, with a line from the musical
Macroeconomics: Global Central Banks News & Highlights
Welcome to the Global Financial Crisis of 2023 (Part Three)
One of the most fascinating aspects of the SVB collapse and the subsequent bank runs is how quickly global bank regulators abandoned carefully worked-out ‘bail-in’ rules and reverted to a weird hybrid of bail-in and old-fashioned bailouts. The putative result was short-run calm. The real result was total confusion among bank depositors and a further loss of confidence in the whole banking system.
The Great and the Good
We are reviewing a ‘pivot’ in recent US history. It was the moment when the military/industrial/spook/congressional complex — the most powerful industry in the world — took control of US politics…and the empire took on a life of its own.
A hawkish RBA is a gift for dividend investors
The yield curve in Australia just inverted for the first time since 2006, suggesting the economy is in trouble. That means bank earnings will be under pressure.
The Burden of Riches
‘Fascism is capitalism in decline.’
Vladimir Lenin
You Can Make Money from This RBA Train Wreck
The latest building approval figures were released yesterday. We’re back to levels last seen a decade ago. That’s a bit of a problem when we have a record number of immigrants about to surge into the country. Read on…
