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Yesterday we quoted an article in the Australian Financial Review which said the proposed cash for clunkers scheme would:
“[C]ut carbon dioxide emissions by 1 million tonnes and save $344 million in fuel costs in the next 10 years”.

We then wrote, “But when you compare it to Australia’s total CO2 emissions as of 2007 of 374 [...]

Right now you may be wondering who the big winners from the stimulus programmes and banking bail outs have been, because it sure as hell hasn’t been you.
Well, look no further than two articles yesterday from Bloomberg News:
“Purchases of U.S. Existing Homes Probably Dropped as Credit’s Effect Waned”
That’s the story from Main Street, USA. [...]

US Treasury holders have nothing to fear today. Just look how low yields are!
“BOY, the bond vigilantes are really on the warpath,” jokes Paul Krugman, noting in his blog at the NY Times that 10-year Treasury yields ended Tuesday below 3.0%.
Never mind that the S&P slumped to 1040 meantime, dropping to a level first crossed [...]

Apparently it’s gold, not property that’s in a bubble.
Or so says Macquarie Group interest-rate analyst Rory Robertson. You might remember Mr. Robertson as the man on the other side of the bet about Australian house prices with economist Dr. Steve Keen. Robertson won that bet and the good doctor dutifully trudged his way to [...]

Two things happen to cash savers (meaning pretty much everyone) when real interest rates get stuck below zero…
HOW HAS GOLD reached and breached new all-time highs in the absence of strong 1970s-style inflation?
The Buttonwood column in last weekend’s Economist is only the latest analysis to miss the point, and despite tripping right over it, too.
“Owning [...]

Filed under: India, China, Brazil, RussiaThere’s a lot of talk about whether the recovery will stall or continue building momentum. We could get a very clear picture this week since the big economic news will likely be the May price reports. I’m expect…

The media is at again.
And yesterday, ‘inflation’ reached it’s highest annual level since October 2008, supposedly ’smashing’ through the Reserve Bank of Australia’s (RBA) own self imposed target inflation rate of 2 – 3%.
However, the media were quick to point out that smokers were at fault – again! You see, the new 25% tax on [...]

There are plenty of myths and legends in economics and politics.
One that has gained a lot of support – thanks to bureaucratic propaganda – is that tax cuts are inflationary.
Needless to say, this downright lie has been lapped up by the political hacks in the mainstream press. Largely because, well that’s what the bureaucrats [...]

“At the end of the day Im just a mug punter but even I with my limited intelligence know the definition of “super” I mean imagine if Super mans powers were slightly greater than that of the average man….. he wouldnt really be “Super man” now would he, he’d be “Slightly better than average man” [...]

With or without hyperinflation, today’s welfare-state obligations – just like 1919’s war reparations – are simply too big to be paid…
The EUROZONE’S PROBLEM? In short, it’s history…precisely what the single currency was supposed to neuter, of course.
Greece’s still-pending €110bn bail-out has already cost three lives in Athens’ riots today. More bloodshed inside Western Europe would [...]