Wall of Liquidity

Once again a misconception is gaining currency. There is increased talk of a build up of cash just waiting to be converted into equities or other assets. I wrote about this years ago in cash on the sidelines, but apparently the financial commentariat did not read the post, so it is time to revisit the […]

The power and peril of FRED

“FRED” is the St.Louis Federal Reserve Economic Database. It is an excellent repository of economic data, currently boasting 45,000 time-series from 42 data sources. The web-site offers a powerful interface for creating charts of FRED data. Unfortunately, it is a little too powerful, offering a rather dangerous feature: the secondary axis. I have railed against […]

Deceptive Charts #2

Last month I wrote about the dangers of secondary axes, but even charts with a single axis can be deceiving. I have been reflecting on this after reading Jon Peltier’s critique of Microsoft’s “professional” charting tutorials earlier this week. One of the charts Peltier takes issue with is a column chart which has the value […]

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Is Australia taking its fair share of asylum-seekers?

In Crikey this week, Bernard Keane made the point that Australia accepts a disproportionately small number of asylum-seekers given our population size. So, where exactly do we rank in the world in terms of generosity towards displaced persons? The United Nations Refugee Agency provides a wide range of statistics about refugees and asylum-seekers. The latest […]

Cash on the Sidelines?

Last week, the Australian Financial Review was doing its best to spruik the ongoing prospects for the Australian share market in their front page article “Cashed-up funds have $70bn to invest”. The article is only available online to subscribers, but this quotation sums it up: analysts cite the volume of cash stockpiled as a reason […]