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The risks of macroprudential,

Arnold Kling has a very interesting theory about the state of the United States economy. "I think that back then [2008-09] there was a sudden political regime shift. The polit […]
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Cryptocurrencies and the global recession,

The cryptocurrency boom of 2017 bust in spectacular fashion (as we predicted), with many coins down nearly 70% from their peak. But that doesn't mean cryptocurrencies should b […]
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Satoshi Nakamoto is not writing a book,

We stumbled across some fluff at Bloomberg reporting on the recent appearance of the Nakamoto Family Foundation website, http://nakamotofamilyfoundatio...: Is the unknown crea […]
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Follow the money,

We've been writing and tweeting about the collapse in interest-only property loan issuance in Australia for several months, following APRA's decision last year to require bank […]
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The global financial cycle,

In a recent NBER working paper by Òscar Jordà, Moritz Schularick, Alan M. Taylor and Felix Ward, Global financial cycles and risk premiums, the authors conclude that: "First, […]
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Our sense of shared prosperity,

Whatever it means, Australia's Reserve Bank Governor Philip Lowe thinks it's at risk: "...it is clear that the slow growth in wages is affecting our economy... [and] is dimini […]
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Australia growing at its fastest pace in years,

Australian real Gross Domestic Product (GDP) was up 1% for the quarter, the largest quarterly expansion since late 2011. Year-on-year growth was 3.1%, the fastest in nearly tw […]
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About those steel tariffs,

Economists are a divisive lot but one thing they agree upon is that tariffs are bad. Very bad. President Trump's move to slap a 25% tariff on steel and 10% on aluminium to "pr […]