Debunking Economics - the podcast

This week Phil and Steve dig into the storm of controversy over Australia's new budget rules targeting property speculators. The Labor government has scaled back negative gearing and abolished the 50% capital gains tax discount for established dwellings—major tax shelters that have historically rewarded people for gambling on rising asset prices rather than working productive jo...

This week Phil challenges Steve on how the futures market handles terminal risk, pointing out that oil prices slope downward over time simply because traders blindly assume the Strait of Hormuz will reopen. Steve agrees and tears into the financial sector, explaining that modern pricing models dangerously mistake unquantifiable "uncertainty" for manageable "risk" by using flawed...

This week Phil and Steve dismantle the structural shift of the global economy toward a permanent state of debt dependence. Following a critique of Steve’s recent debate on the Piers Morgan show and a revisit to last week’s discussion on th link between energy and productivity, they look at how policy since the 1980s aggressively incentivizes borrowing over saving. Steve argues t...