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Financial wizardry recently caused massive problems for UK pension funds and the Bank of England. The Bank of England forces pension funds to take part in ‘LDI’ contracts which aim to insure possible future liquidity problems. These contracts however lead to real liquidity problems, which forced the Bank of England to intervene to prevent a market melt down. The solution became the problem. Deputy Governor John Cunliff of the Bank of England stated: ...

I’ll be giving a talk on Tuesday (1pm ADST) to the ANU seminar on health service research and policy. Topic:Mental health and mental fitness in an age of disaster. The Zoom link is https://anu.zoom.us/j/81262299147?pwd=eWRJNDJFSC9JbHh4dDd0a0IvTUFvdz09 Share this:Like this:Like Loading...

My latest piece in Independent Australia THE RISKS of nuclear war are greater than at any time since the Cuban Missile Crisis. Not only is Vladimir Putin threatening to use nuclear weapons to stave off defeat in Ukraine, but the North Korean Government has continued to develop and test both missiles and nuclear warheads. U.S. President Joe Biden has responded to Putin’s threats with admirable calm so far, playing down the risk that Putin will use nuclear weapons and avoiding any...

from Peter Söderbaum and WEA Commentaries current issue Introduction In all societies there is a tension between democracy and dictatorship. In some countries democracy is well institutionalized and the threat of dictatorship is successfully kept at a distance. In other societies, a system close to dictatorship is quite established and democracy is regarded as a threat. Today, we witness a confrontation between Russia, a nation close to dictatorship and Ukraine which appears to move...

Permits back on trend after a post-Covid bounce? Starts down a bit but perhaps leveling off around pre covid levels. Certainly not a major collapse yet: Multi-family doing better than single-family: Another tick up in the Fed Atlanta’s GDP calculations:

Permits back on trend after a post-Covid bounce? Starts down a bit but perhaps leveling off around pre covid levels. Certainly not a major collapse yet: Multi-family doing better than single-family: Another tick up in the Fed Atlanta’s GDP calculations:

from Lars Syll This year’s Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel honours Ben Bernanke, Douglas Diamond and Philip Dybvig. In the view of the Royal Swedish Academy of Sciences, the laureates ‘have significantly improved our understanding of the role of banks in the economy’. But what is the role of banks in the economy? The academy describes it this way: ‘To understand why a banking crisis can have such enormous consequences for society, we need to know...

No sign here that the rate hikes have slowed growth: This is what has been hurting their currency: This series is showing signs of slowing, perhaps due to working from home:

No sign here that the rate hikes have slowed growth: This is what has been hurting their currency: This series is showing signs of slowing, perhaps due to working from home: