Were he still alive, former prime minister Robert Muldoon might have warned the Labour government about the trouble a wage freeze can get you into.
While necessary during the crisis, government borrowing isn’t costless. Longer term, it might depress living standards.
Creating lots of new money is supposed to produce runaway inflation. The longer that it doesn’t happen, the more this branch of economics appears to have a point.
‘The name’s Bond, Reinvented Bond.’
With government debt soaring following moves to combat the coronavirus pandemic, now is the ideal moment to change how states borrow money.
America’s credit card has no spending limit.
The Trump administration is asking for US$850 billion in stimulus spending. Given the debt’s already at record levels, can the US afford it?
Aerial view of Port Louis, Mauritius.
Supplied by author
A significant change in political mentality is required to shore up one of Africa’s leading lights.
What the ‘credit’ in Universal Credit actually means.
The concept of Universal Credit reveals something wider about the UK’s current political fixation on debt.
Could the 'magic money tree' have been right under our nose this whole time?
Will Padilla’s pleas to Washington go unanswered?
The island, which missed a debt payment earlier this month, faces ‘disastrous’ consequences if a solution to its spiraling crisis isn’t found soon.
Was Barnaby Joyce right about Labor’s record on debt?
AAP Image/Mick Tsikas
Deputy Prime Minister Barnaby Joyce said that when the Coalition lost government in 2007, Australia was owed billions by the world – but that when the Coalition regained power in 2013, Australia was in debt. Is that right?
Much is expected of South African President Jacob Zuma when he delivers his 2016 State of the Nation Address.
The general loss of faith in the economy is the most important issue President Zuma must address. More radical social and economic transformation, with emphasis on land reform will be most critical.
Treasury secretary John Fraser says if Australia were to permanently reduce net debt, it would have to achieve sustained structural budget improvements.
Australia should not be complacent about maintaining its top credit rating, which depends on achieving budget repair and a more diverse economy, Treasury secretary John Fraser has said.
The budget deficit is going to be way more than $35 billion.
The MYEFO numbers aren’t going to be pretty - but the projected future budget deficits are a fantasy.
Sometimes it’s not a good thing to have a roof over our heads.
Dollar ceiling via www.shutterstock.com
The consequences if lawmakers don’t raise the debt ceiling in the coming days are unknown but potentially devastating for the US and global economy.
A newly confident Greece could find a path to stability.
Greece could default and refuse to leave the eurozone - it all comes down to what the European Central Bank does next.
A friendly reminder.
IOU from www.shutterstock.com
Despite its tendency to provoke anxiety-inducing debates in Congress and government shutdowns, the high level of US IOUs isn’t a big deal.
Then NSW treasurer and now Premier Mike Baird, shaking hands in 2013 to mark the handover of Port Botany under a 99-year lease – the same period as has been proposed to lease state electricity assets to private operators.
Privatising public assets is like a tradesperson selling her or his tools when facing a temporary income shortfall. Much better to borrow at low interest rates and productively invest those funds.
Queensland’s debt: is it sky high, or under control? An economist shows what you need to know to judge for yourself.
How much debt is Queensland really in? How much of that debt can past Labor governments bear responsibility for, and has the current Liberal National government cut or added to it? And how does Queensland’s…
Fast-spinning black holes don’t just exist in space – Queensland’s Liberal National and Labor parties are busy attacking each other’s strategies to cut debt, yet both have been guilty of having black holes in their plans.
Author’s update, January 29: In the week since this article was published (on January 23), Labor has moved to address the funding “black hole” in its plans to reduce Queensland’s debt, mainly by adopting…
Cutting a dash. A 1957 Chevrolet.
Randy von Liski
Taken at face value, David Cameron’s warning this week about risks in the global economy sounds like it might be wonderfully prescient. Here’s the country’s economic chauffeur, carefully checking his instrument…