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Author Archives: Geoff O'Reilly
But I can’t afford it …
We’ve all said it. “That would be great, but I can’t afford it.” That house, that fancy car, that new dress, that exotic holiday, that night out … BUT, in recent decades … … The presence of credit cards in … Continue reading
Beer goggles and holes
Is this the typical (central) bankers view of the mountain of debt in the world? … of the effect of the mountain of newly printed money? … of Wall Street reaching for the sky? “Continuing large-scale asset purchases risks … Continue reading
China’s debt
That China has pumped up it’s economic growth with a huge mountain of new debt is not in doubt. In 2008, the quick debt fueled economic stimulus was proportionately way bigger than any other economy in the world. But the … Continue reading
Good debt, bad debt and unreal debt
Governments, corporations and people borrow to pay for something they need now, but don’t have enough cash/savings to pay for now. If that something is a hard economic asset (say, a power station, or a house), part of the future … Continue reading
Posted in debt, financial markets, risk
Tagged bank behaviour, delusion, derivatives, investment banking, Wall Street
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Phantom recovery
Highlights from yesterday’s US Government press release on jobs: unemployment down in one month from 7% to 6.7%; 74,000 new jobs created in December. Sounds OK doesn’t it? The economy must be recovering … (Wall Street rose a bit on … Continue reading
Posted in employment, tough times
Tagged BLS, delusion, economic growth, employment, Federal Reserve, jobs, unemployment, US economy, Wall Street
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Politicians under pressure … democracy tested
Five or more years past the global financial crisis we are seeing more big trends that show just what a tipping point 2008 was. In 2008 and 2009 many changes were obvious: falling stock markets; falling prices; wealth destruction; massive … Continue reading
Posted in politics and leadership, power and democracy
Tagged economic growth, elites, government, politics, unemployment
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The market v the economy in two graphs
The exuberance in the western world’s stock markets is palpable. The lead is coming from Wall Street where the end of year celebration was lubricated by a 30% gain. Thanks to the Federal Reserve printing $1 trillion out of thin … Continue reading
Posted in financial markets
Tagged delusion, economic growth, Federal Reserve, market value, Wall Street
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Power and democracy … who rules?
Yesterday, whilst pondering “the entitlement to rule” attitude of those in power, I was reminded of a personal experience just about 13 years ago. For 20 minutes or more I sat next to James A Baker III on a bus. … Continue reading
Good bye 2013 …
Was 2013 a good year for you, one to celebrate? … or are you glad to see the back of it, and pleased to celebrate the arrival of 2014? Either way, there was one helluva celebration a couple of nights … Continue reading
Hockey’s challenge
107 days have already gone for the new Australian Government. It will be another 140+ before we see it’s first full budget. Nearly a quarter of their elected term will be gone! 18 months after that, they will be right … Continue reading
Posted in politics and leadership, tough times
Tagged Australian economy, delusion, Howard, Joe Hockey, Tony Abbott
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something 2 ponder 