Greenspan, etc.
July 31, 2008
This from Justin Wood:
I agree that Greenspan caused the credit crunch, and Bernanke is laying the foundations for further crises. Monetary policy is pretty much too loose everywhere in the world. I think the biggest fallout from the crisis will be a wholesale change in the way that central banks operate, what they focus on and target and how they act. Asset prices will no longer be ignored. Not all deflation will be considered bad. Monetary aggregates will once again be taken notice of. etc etc. Or maybe I’m just being overly optimistic.
If that’s being overly optimistic…I’m staying home for the pessimistic part of the lecture.
Leadership lagging as crunchtime cometh
July 29, 2008
The share market loses $25 billion because the price of iron ore slumps from stratospheric to extortionate. The government is under siege over carbon, the very issue it was elected to tackle. Fear is everywhere. More people I know have declared themselves suffering from chronic depression in the last twelve months than in the other 38 years of my life. Alan Jones has prostate cancer. John Howard gets burgled.
Is it me or are things weird at the moment?
