Sunday, 21 December 2014

Economic Wonkery

There were some great articles  in Around the Traps for those that like in depth discussion of economics.
These are mainly dealing with monetary policy and variations thereof.

Paul Krugman

Nick Rowe

Edward Lambert

Thursday, 18 December 2014

Around the Traps 19/12/2014

It is time for Around the Traps again.
I have a family Christmas do on Saturday so will update on Sunday!

Northern America

Andrew Gelman (Mainly Stats)
Genial Dave Giles (Econometrics)
Dianne Coyle ( quirky + book reviews)
Vox Wonk

Wednesday, 17 December 2014

What is Terrorism?

Was the Sydney siege terrorism? Sinclair Davidson lays into people who think it wasn't  but of course he won't define the term nor will Gerry Jackson

Well you have to define it
Here are some
This is possibly the BEST

So looking at all these definitions it is very hard to say the Sydney siege was an act of terrorism.

Happy to be to wrong though

THIS is good

The Government this year in the polls

No need to write anything on how the government is travelling in the polls.

The inimitable Kevin Bonham had already done this and done it well!

Tuesday, 16 December 2014

Reactions to MYEFO

Here are three four thus far.

1. Greg Jericho
2. Mumble
3. Judith Sloan
4.The Kouk

One is really stupid as you might expect from someone who said on national TV that the NBN was not on the National balance sheet. ( She never reads budget papers.)

Why is it stupid you ask? Well if you cut spending as she wishes we have seen this done.
Swan's last budget ( that is the one he had full responsibility for) saw NOMINAL spending cut not just real spending. This budget was the tightest in budget history. It detracted 0.7 percentage points.
A strong memory is not one of  her assets.

Did the Economy fully recover?

No. the economy got weaker and the deficit this got bigger.
It didn't help that whilst commodity prices fell  the $A didn't!

Isn't it funny a political commentator knows more about economics than her? Well no it isn't!

Monday, 15 December 2014

MYEFO or Hockey reaps what he has sowed.

Yesterday when the siege was occurring in Sydney Joe Hockey released MYEFO.

It is pretty well I expected particularly since it had been leaked!

I am not going to argue with Ross Gittins or Peter Martin and again.

Quite clearly  Hockey thought when he got into office the economy would be starting to grow more strongly and hey presto no deficit.
As it is he is now repeating Wayne Swan's line of having a revenue shortfall which he regularly criticised. He also has wages growing much less than thought. Impossible if the labour was re-regulated by the ALP!
He now looks even more foolish.

I can't help commenting on THIS.

No comment from Davidson that Swan actually cut spending as he earnestly wants and produced the tightest budget we have ever seen. Well that is understandable as he called that budget expansionary.
Only problem is it contributed to a weaker economy.
Davidson never learns from history which is why he is wrong most of the time!

Thank you Mark the Graph

I said some time ago I could not get to see the Excellent Mark the Graph blog.

I can now Yippee.

This means I can also access the also excellent Mark the Ballot blog as well.

I can leave those blue pills now!!