The scandal engulfing PwC in Australia has the potential to destroy the Australian business.
Continue readingAuthor: AustralianActuary
The US debt ceiling – does it matter?
It’s time for a detailed note on the political circus in Washington DC gyrating over the debt ceiling.
Continue readingThe $1 trillion coin solution to the debt ceiling crisis
The idea of the trillion dollar coin is back, it seems. This idea is so gobsmackingly stupid that it has attracted the approval of Paul Krugman.
Continue readingWho would be an insurer?
Insurance is the second greatest invention of the financial world. (For those wondering about the greatest? Commodity backed money.)
Continue readingWhat would you do, if you were me?
Be honest, who hasn’t had someone seek advice with that question?
Continue readingPlease Sir, I want some more
I accidentally stumbled onto the website of the Reserve Bank of Australia (RBA) on a recent search for inflation data. Trust me, it was an accident. While I sometimes visit the RBA site for a laugh, I never go there to learn anything.
In this case, the RBA page gave an explanation of the causes of inflation. Stop me if you’ve heard this before: demand-pull, cost-push and inflationary expectations. Yawn. Decades after the twitterings of Keynes and Samuelson, the modern day RBA types still believe that rubbish.
I was wrong
A little over three years ago I wrote a piece that posited the almost global Government reaction to Covid19 was an overreaction. I thought that it would take no more than 6 months for people to realise this.
I was wrong. It took a lot longer.
Water, water everywhere
Marketforces.org.au is the website of a group of people who are disgruntled, or if not actually disgruntled, are certainly far from gruntled. (H/t PG).
Continue readingDismantling superannuation
The governing Labor Party in Australia has just delivered bills to the Parliament to authorise next year’s budget. Included in the measures is the additional tax on superannuation balances that exceed $3m.
Continue readingThe unwelcome return of the Gold Standard
Imagine you were to pen a letter to the editor of any major newspaper predicting that the world’s major economies would be going back on a currency gold standard. Imagine, assuming the letter was published, the gales of laughter from the readers.
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Australian Actuary 