Could Banks Down Under Go Under?

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In Australia, All That Glitters Isn't Gold

It may seem to be in ruddy economic health, but Satyajit Das says Australia's financial sector is on shakier ground than many realize. And as long as the banks remain dependent on a debt-fueled property market and a now-slowing natural resources sector, he says, the entire country will be at risk.

Why Netflix Isn't a European Company

Digital behemoths require borderless commerce to grow, and Europe -- despite its best efforts -- just can't oblige. Leonid Bershidsky points to the EC's recent Digital Single Market proposals to show how the simple act of providing video-on-demand becomes infinitely complex once European bureaucrats are involved.

Central Banks Can't Go It Alone Anymore

It's been clear from some time, Mohamed A. El-Erian says, that advanced countries must remove structural impediments to growth. Fortunately, policy makers are starting catch on -- but a new mindset won't mean much without swift action.

Trump and Clinton Can (Mostly) Be Trusted

They may not have stellar reputations for honesty, but take the candidates at their word -- at least when they're making promises now, Albert R. Hunt says. Research and recent history show U.S. presidents rarely renege on their campaign commitments once they've made it to the White House.

Ritholtz's Reads

  • Why doesn’t physics help us to understand the flow of time? (Aeon)
  • How big pharma uses charity programs to cover for drug price hikes (Bloomberg Businessweek)
  • Behavioral economists create model of our desire to make sense of it all (Carnegie Mellon University)

(Read Barry Ritholtz's full daily news roundup.)

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