In attempting to understand the current financial crisis I don’t have the benefit of a great deal of knowledge of macroeconomics. Nevertheless, I can understand only too well what many macroeconomists are saying about fiscal stimulus and multipliers because they are using Keynesian language that I learned in my first year at university 45 years [...]

From the latest Leithner Letter:
Given how we came to this pass, where Australia now stands, what the government is doing to us and what may lie before us, it’s difficult to conclude that stocks are cheap and easy to believe that they remain dear. True, the AOI is less overvalued now than it was, but [...]

On October 13, it was announced that controversial New York Times columnist Paul Krugman had been awarded the “Nobel” prize in economics. Yes, “Nobel” appears in quotes for a reason. That’s because, unlike the other Nobel prizes which were established by inventor and philanthropist Alfred Nobel, the “Nobel” prize in economics was established (and funded) [...]