We need banks to be conservative, especially in the present situation. But do we want that? What would that mean? i have expressed some concern about house prices in a few place… See here, here and here as examples.
Hemingway had it right on bankruptcy, that it happens slowly then all at once. So too it seems are changes in how the world sees finance. For the best part of a decade now the (final?) flowering of Financialisation has been rampant. In the Eurozone we have seen the coupling of private financial sector debts to the state. In the USA we have seen the obsessing by the Republicans on inflation (though to be fair their store of things to be obsessed about is deep and wide). In the markets we have seen case after case of alleged manipulation, if not downright rigging, of key features. We have seen the growth of “dark pools” which have the effect of making organized markets such as the NYSE or the LSE less and less relevant with trading happening “offsite” And yet all these have been addressed.
so…. another CSO release of house price statistics. Recall that a bubble is where prices deviate fundamentally from their warranted levels. We know that there are massive supply constraints in the dublin region so we should see house price appreciation. But this much? The largest ever year on year percentage rise ? We are back to the madness it seems.
Here is my old friend SupADF…. Remember when Mr SADf crosses Mr 95% from below, its BUBBLETIME. So technically not a bubble but give it time… these figures should be a very large bucket of cold water in the face of government insouciance about back to the future…
We are having a glorious summer, all in all. This is probably down to global warming or El Nino or something but anyhow lets enjoy it. Continue reading
How can arts and social science faculty show their quality to be just as high as STEM? One of the things that becomes clear when you spend any time engaged in the promotions or hiring process of universities is that there is an increased drive towards metric. This has spread from the STEM area to the AHSS areas .
History and business are rarely taught or even studied together. That’s a pity. Economic history, as subject, has disappeared down the memory hole. What is more worrying perhaps is that the methods of historical analysis, careful source text reinterpretations, critical data analysis and a cool analysis, are not often applied to business. Enter Jill Lepore, a Harvard historian, to remind us why this ahistorical business analysis is a weak approach Continue reading