The new economic glossary

Regular readers will know that I am in the process of building a new glossary of terms to help describe Australia’s dramatically evolving contemporary economy. I’ve just added another today and it suddenly occurred to me that it is time to make it official. Here is the whole dictionary thus far:

Politico-housing complex The great public/private partnership of the Australian housing quango that has virtually nothing in common with either capitalism or a “market”.

Invisopower! The myterious fog that surrounds the details of Australian banks’ offshore borrowing. A cloak deployed by regulators.

Bullhawk A half housing bull, half interest rate hawk. Examples include Christopher Joye, Adam Carr and Paul Bloxham

Disleveraging The idea that falling credit growth can be sustained forever without ever tipping into outright debt-deflation.

Futureboom! The concept of an ever expanding future mining boom that gets bigger the worse immediate data becomes.

Boganomics The strange nexus between anti-comptitive corporations and gullible but patriotic battlers.

Gittins! The Fairfax commentator with whom I have most in common yet cannot abide owing to an appalling generational gulf.

Business Hysteria My pet name for Business Spectator when it gets righteous in defence of vested interests.

Have I forgotten any? Any terms you’d like to add?

Houses and Holes
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    • Yeah but nothing quite up there with “vampire squid” (yet). Give him time though, I think he might get there…

  1. Cashtration (n.): The act of buying a house, which renders the subject financially impotent for an indefinite period of time.

    Intaxicaton: Euphoria at getting a tax refund, which lasts until you realise it was your money to start with.

  2. jousting sticks

    Bubbleblind: A condition where the subject is of sound mind, and with functioning senses, but suffers from a complete inability to make out bubbles in his or her environment.

  3. The definition of Boganomics is much much wider – it encompasses a entire branch of economic theory and rivals both Keynesian and classical economic theory.

  4. Taxophobia: an irrational fear of all tax increases of any kind, owing to corporate cheerleading and imported US libertarianism.

  5. It may have been copyrighted elsewhere but it is worthy of the australian glossary..

    Ruddprime: Transfer of peak housing prices to low LVR first home buyers

  6. Oztrian economics (someone else will do better justice with this one…something about the ideology of protected monopolies??)

    • Not the Trains your after Alex78..
      but I couldn’t get out of the station..
      Hope you don’t mind me writing on your wall

      sleevecadsuccess – Builds, 8 times as many railway sites
      too export the wealth back to shore, ..that then..blows the numbered balls around to the winning chutes like a lottery win for us

      buries our heads in a cloud of carbon costs whilst looking at nooks for boat people.

      glideoffancyfall… puts
      the banks in charge to milk the micro,
      that relocates the bonds factories to make their clothes,being
      woolies n coles and new zealand, keep us,fed n well..and moving

      budgitfloodyious syndrome
      Thumb the weather,like a dart in the wall,to explain a miss.

      a conditioning that you should take on far more debt than your dad did to breed..

      Lost leaders,pretend juggling 5 balls in the air when only having three…and two of them are borrowed..

  7. OZLucky-Over Zealously lambasting uniformed can kicking yearly
    GoHeinz-Gone overseas Helping employment
    in New Zealand

    • Nah Nah Nah-MB’s,
      Taken the I out
      put’n it back in koolIn…Freezn all the
      Flack….we’ll watch your back
      Don’t blink..Think


      • Hypnotizer-Neutralizer
        The ability to unbutton a Financial Hypnotist
        and ,pickpocket their sleep..
        Take their car and Put them on a bus
        Figuratively ,in less than a page


  8. Baby Bust? (oposite of baby boom?)
    The Bank of Mum & Dad?

    Forgive me for I have just purchased Bernard Salt’s “The Big Tilt”. Scrolling the contents page I was hit with a few more spoonerisms but I’ll have to read the damned book* first before putting them forward.

    *not a fan of Salty. Will be figuratively shaking my fist later I assure you.

    • “*not a fan of Salty. Will be figuratively shaking my fist later I assure you.”

      Me either actually, I’m currently in the process of reading “The big picture” and he strikes me as making a lot of massive generalisations and generally unsubstantiated claims.

      • What exactly need one do to become a demographer anyway? I prefer Hugh McKay (Advance Australia Where). He’s more observant and doesn’t appear on TT/ACA every 5 mins trotting out some BS about gen X or Y.

  9. Bloxham and Jetsam: Debris washed ashore after a loud economic boom is heard out to sea.

  10. InCarrceration: An economic penalty applied to those who go around slapping bears.

  11. Mineralisation: An economic process in which a once-vibrant, diverse economy is converted into a one-trick pony.

    Damn, you, H&H! My head is starting to hurt!

  12. Judas-Journo: Acts of deceit and betrayal by a financial non-MB journalist misleading the sheeple towards financial Armageddon.

  13. Treasusphere: Stratospheric heights to be reached by 21st century economic model.

    Treasources: all eggs in one basket.

    RBA’d: screwed by interest rates.

    Barnetted: screwed by state governments.

    Californaustraliacation: the dream, Economist style.

    Manufuct(ured): future of Australian manufacturing (reality of political interest in).

    XXXXed: undesired exchange rate repercussions.

    MacroBation: gradual adoption of views expressed at Macrobusiness by MSM.

  14. Vinegar-Stroke: The contorted facial expression induced when one discovers all credit cards are maxed out and the ATM house is out of funds.

    The facial expression is similar to that which is caused by drinking even a small amount of No Frills White Vinegar.

    Example (at the Pub);

    “Hear about Smitty, the guy next door to the Jones’es?”

    “No what happened?”

    “Well apparently his daughter was ready to go to Europe for a year with the Jones’ girl for an End of High School present, and now she’s not going.”

    “Dead set what happened?”

    “Dunno, all I heard is that Smitty had a Vinegar-Stroke.”

    Hope that explains it well enough.

  15. Min-Man-lysis – Slow desorption of primary and following secondary value-added industries to make room for mtpa of ore haulage

  16. Lack-o-losia – An event where an Australian Bank borrows from the US Federal Reserve, and does not disclose the loan to the market.

  17. Sandgroper Sceptic

    sCARRed – the sound of a bullhawk’s wings being clipped. Also used for people in the industry kicking an own goal…as in “he sCARRed!”

    esCARRgo – a tasty dish eaten by permabears

    LVR – something that banks used to worry about and will do so again in the near future.

  18. Propertyganda – Information published in news outlets, disguised as news and related to property, which suggests property prices in Australia are strong and unlikely to fall.

    Strawman-propertyganda: Information published in news outlets disguised as negative news on housing, but without
    really looking at the most convincing reasons to be bearish on housing in Australia.

  19. No discussion like this is complete without mention of Mega Mortgage Mugs, I believe a construction of internet commentator We Love Ha ha. It’s on Urban dictionary.

  20. FULL EMPLOYMENT: Enough unemployment to cause enough wage restraint to counterbalance the inflationary effects of other policies, especially taxation (including tax expenditures) and transfers.

    MONETARY POLICY: The setting of interest rates so as to maintain FULL EMPLOYMENT (q.v.).

  21. Sinocism: having a skeptical view of China’s economy.

    Occidental Wealth: the mining boom and/or rewards of being the Lucky Country.

    Chinfity: and beyond. China’s unending growth.

    Acarrlyte: One who disseminates the writings of Adam Carr to a broader audience.

    And Stavros, that is a fine idea.

  22. “I wonder how many people here understand that definition, and the people mentioned (Frank, Shady, Sean, Wulfie)?”

    Enlighten those of us who are ignorant?