Professor Steve Keen has often spoken of the need for a debt jubilee. If households can write off their ever expanding, mortgage driven, debt, then we reduce the risk of asset bubbles and consumer spending drying up leading to recession or depression. But, Phil Dobbie asks, how would it work in practice? Has it been tried anywhere and what are the possible side effects?
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Banks ready to tighten, Biden ready to spend
Oil hit the highest since 2014. NAB’s Tapas Strickland says OPECs reluctance to up production is a big part of it. Also today, as banks continue to talk about tightening, will Joe bIden finally get some extra fiscal stimulus over the line?
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Markets go cuckoo as the Swiss clock a half percent hike
Markets are less optimistic today. NAB’s David de Garis says an unexpected half percent rise from the Swiss National Bank might have a bit to do with it. Nobody likes surprises, unless it’s their birthday.
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Commodities fall, VIX jumps, Aussie hit hard as growth concerns rise
The Chinese growth story is something we have to watch from here and has been a big factor in the behaviour of markets in the last few days says NAB’s David de Garis.
