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A Conversation With Steve Keen: Part 3 – Ecology and Energy; The New Horizon

The third part of my conversation with economist Steve Keen. Part One : Part Two: Support Steve via his Patreon Channel Watch our previous show: Are Icebergs Fluffy? … A Conversation With Steve Keen [There will be no Property Imperative Weekly today due to my wife’s illness]

The RBA FOI On First Home Loan Deposit Scheme

The RBA just released a FOI relating to the Federal Government’s proposed First Home Loan Deposit Scheme. How many loans might be made? “the point of the estimates is that the various caps on the scheme (10,000 loan cap, income and house prices) are likely to be the binding constraint on the amount of loans … Continue reading “The RBA FOI On First Home Loan Deposit Scheme”

RBA flags ‘overhang effect’ of rising mortgage debt

Well, surprise, surprise, the RBA has realised that high mortgage debt reduces household consumption, according to new research they published. Yet they also note the positive economic impact of higher debt, and say the the overall impact is “unclear”! Well, the DFA surveys make it quite clear, many households are “full” of debt” and cannot … Continue reading “RBA flags ‘overhang effect’ of rising mortgage debt”

A Conversation With Steve Keen: Part One – The Debt Problem

In part one, Steve Keen, the controversial economist, and I discuss the nature of debt and how it impacts the economy. Part two will follow later…. Support Steve via his Patreon Channel Watch our earlier show: Are Icebergs Fluffy? … A Conversation With Steve Keen

APRA applies additional capital requirements to ANZ, NAB and Westpac

The Australian Prudential Regulation Authority (APRA) is applying additional capital requirements to three major banks to reflect higher operational risk identified in their risk governance self-assessments. APRA has written to ANZ, National Australia Bank (NAB) and Westpac advising of an increase in their minimum capital requirements of $500 million each. The capital add-ons will apply … Continue reading “APRA applies additional capital requirements to ANZ, NAB and Westpac”

Household Finance Confidence Tanks Some More

After the slight twitch of positive sentiment following the election in May, the DFA Household Finance Confidence Index fell again, to a new low of 85.54. Whilst the RBA rate cut may offer some borrowers the prospect of improved cash flow (when the changes propagate through to the regular repayment), just as many households bemoan … Continue reading “Household Finance Confidence Tanks Some More”

Fed Confirms Easing Bias

In the latest FOMC minutes, the tone suggests a potential easing rate bias, recognising the rising economic risks. Uncertainties have increased they say. In their discussion of monetary policy for the period ahead, members noted the significant increase in risks and uncertainties attending the economic outlook. There were signs of weakness in U.S. business spending, … Continue reading “Fed Confirms Easing Bias”