Ponzi scheme

Before we get on to today’s Money Morning, this…
“The 2010 Walkley Award goes to… Jason Clout, for the Australian Financial Review’s ‘Rear Window’ column.”
That would be the result if your editor had, a) any influence over the award, and b) any interest in having any influence over the award.
In last Friday’s Money Morning we wrote:
“Let’s [...]

“You’ll like this” Daily Reckoning editor Dan Denning smiled last Thursday as he lightly dropped onto our desk a print out of former ANZ chief economist Saul Eslake’s article from The Age.
“Debt won’t ‘roon’ us” was Saul’s headline.
Actually, he’s wrong. Because it will impoverish everyone.
Even those without debt. But I’ll explain all that [...]