Rational Radical

Rational Radical is a blog dedicated to alternative evidence-based analysis and commentary on Australian political economy.

[Rational Radical @RationalRadicaI]

@cherniTweet @AnnaEarl11 @slipperytit @SGM63 Our self-fulfilling economic imbalances appear to have finally caught up with us, and I believe will simply overwhelm any brief rally in confidence. Looks a classic bull trap to me, entirely consistent with many historical credit bubble collapses.

[Rational Radical @RationalRadicaI]

Apart from the characteristic Aussie revulsion to being stuck in line, it seems doubtful that a majority of 5 million people rush to pre-polls ahead of election to keep things how they are now... I'd venture to suggest this points to a Labor landslide plus a healthy protest vote.

[Cameron Murray @DrCameronMurray]

As of last night, 5.1 million people had already voted in pre-polls or postal votes in the 2019 federal election. That's about a third of Australian voters.

Data here
https://t.co/cM8a5IKD5t

[Rational Radical @RationalRadicaI]

@cherniTweet @AnnaEarl11 @slipperytit @SGM63 As in, the only place the bounce has shown up so far is in the narrowing property market. All other economic indicators, including crucially in the critical construction sector are circling the drain, as is consumer and business confidence, which enjoyed the briefest of respite.

[Rational Radical @RationalRadicaI]

@AnnaEarl11 @slipperytit @SGM63 Yeah boo, I honestly thought there was a moment for the smallest measure of reform. More fool us. It won't stop the pain, just prolong it every so slightly until it comes back to haunt us all the more acutely. My view is the "bounce" is already rolling off, this joint is cooked.

[David Graeber @davidgraeber]

future historians will see the post-2015 Guardian as a priceless resource. Day to day, it documents of how the UK's middle-aged professional managerial classes, having allied themselves entirely with finance capital, collectively lost their shit as young people embraced socialism

[Rational Radical @RationalRadicaI]

Oz's legendary "high quality" housing stock. A criminal travesty, to extend unsustainable credit-fuelled construction boom. Matched by criminal banking legacy of credit boom itself. So many bubbles driven by drastic twin lowering of lending & building standards. One for the ages.

[Scott Ludlam @Scottludlam]

fucksake how bad is it going to need to get. enjoy your franking credits hey.

[Julia Gillard @JuliaGillard]

A courageous concession speech from @billshortenmp. He and the entire @AustralianLabor team can be extremely proud of a campaign that put the ALP values of fairness and equality front and centre. I’m certainly proud of all of you.

[Rational Radical @RationalRadicaI]

@TheMurfDawg Indeed, and as I've always argued, the unlimited sewer won't stop these clowns doing all they can to rewrite history, thereby avoiding culpability for incessant advocacy for inaction. Like Ireland, it'll take a Royal Commission to apportion blame to media and economics 'pundits'.

[Rational Radical @RationalRadicaI]

Worth printing out and framing...

[Rational Radical @RationalRadicaI]

We're all capitalists until "the market" turns on us, at which point socialism becomes suddenly much more appealing. Hoocoodanode...?

[Prof. Steve Keen @ProfSteveKeen]

House prices to fall 40%. Prof Keen says RBA is 'brain dead' - https://t.co/Kt4P5CKJqS #GoogleAlerts

[Rational Radical @RationalRadicaI]

There, the RBA has said it for the record: "Falling house prices could lead to rising levels of unemployment".
And so dies another myth about housing crashes and their causal sequences. https://t.co/3xO0Ri5ks8

[John Adams @adamseconomics]

OMG!! 😱

Moody’s forecasting MASSIVE house price falls for Sydney & Melbourne in 2019 alone!!

9.3% for Sydney & 11.4% for Melbourne!!

ESTABLISHMENT FORECASTS IN TATTERS!

DEVASTATING!

Will @peterswitzer & Money Talks revise their LOFTY FORECASTS NOW?

https://t.co/XeTkl1WHsv

[John Adams @adamseconomics]

SHOCK! 😱

Yesterday, a Federal Parliamentarian asked that I refrain from speaking about economics publicly on the basis that such discussion may induce panic!!

In response, I said that Parliament had abdicated its responsibilities & that I had a DUTY to warn the public!!

[Rational Radical @RationalRadicaI]

@cjoye @YourMoneyAus @peterswitzer To whit, a key reason that we have such record-breaking shit to unfold in the first place, is the pervasive bully-boy "doomsayer" shout down & character assassination culture. These folks counseled inaction for ten+ years while empirical risks mounted in face of historic lessons.

[Rational Radical @RationalRadicaI]

@cjoye @YourMoneyAus @peterswitzer Toxic masculinity alive & well in Oz economics. A key reason I stopped warning about the shit unfolding right now, is the pervasive bully-boy "doomsayer" shout down & character assassination culture, exemplified by Chris here. We're fucked, and they're rewriting the history. 🤮

[Rational Radical @RationalRadicaI]

@TheMurfDawg @ComminsP @cmkusher Oh and I say: It's not exactly NOT destroying the housing market 😂

[Rational Radical @RationalRadicaI]

@cmkusher Yeah whoops, not exactly matching up the right measures to support his dismissive anti-bear hyperbole. Secondly, the economy, housing market, and household financial health are not exactly rocking right now... Cognitive dissonance all the way down.

[Renegade Inc. @Renegade_Inc]

When the government says ‘don’t panic...’ get prepared. Contrary to neoliberal / neo-classical economic theory land price crashes are due to private debt. They are never orderly nor are they ever ‘soft landings’. The Australian economy is about to be ravaged. #Australia