The RBA’s errors stem from a lack of diversity in economic analysis, with its often contradictory aims setting it up to fail.
Memos
The rent is too darn high
The rapid decline in residential properties available for rent points to a greater proportion of low income Australians becoming homeless
Do rate rises cause recessions?
Governments and economists might finally be realising that excessive stimulus creates and exacerbates recessions
The cyclicality of capital allocation
With long term bond yields rising, investors are likely to allocate their capital very differently than they did in the last few years
A bear market without a recession?
The prospect of a recession normally accompanies a slump in asset prices, but the current starting point and trigger are somewhat different from historical examples
An outlook for 2022
Higher interest rates, dumb politics and euphoric markets are key risks for asset prices in 2022
The stupidity of rent controls
Rent controls are an example of government intervention in order to fix the problems caused by previous government interventions
The credit story of the year
The demise of Chinese property developers and the wider impacts are likely to be the credit story of the year
A Nobel prize for debunked research?
The claim that increasing the minimum wage doesn’t lead to reduced employment goes against the vast majority of studies
5 recommendations to make housing affordable
This is Narrow Road Capital’s submission to the Federal Government’s inquiry into housing affordability
Bank capital matters more than liquidity
APRA’s changes to liquidity requirements will improvement bank liquidity but won’t stop the need for government assistance during crises
Closed borders have highlighted Australia’s population Ponzi scheme
The Covid border restrictions are an opportunity to reset migration, increase wages and employment, make housing affordable and address productivity problems.