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.
End Lockdowns Faster With Basic Economics
With better incentives and information, Australians would get vaccinated and get back to normal faster.
Governments Are Running an Anti-Productivity Agenda
Using debt-fuelled spending to drag forward consumption is counterproductive in the long term, it leads to stagnation, not innovation.
Evidence of excess liquidity is everywhere
Central banks are repeatedly replenishing the punch bowl when the guests are already trashing the venue
Does adding leverage reduce returns?
A new study says yes and there are plenty of historical examples of how leverage can go wrong
The most dangerous words in finance and economics
The MMT experiment is just a sugar hit, we need productivity reforms to promote sustainable prosperity