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	<title>Prosper Australia &#187; depression</title>
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	<link>http://www.prosper.org.au</link>
	<description>Access → Opportunity → Prosperity</description>
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		<title>Lessons from Manhattan</title>
		<link>http://www.prosper.org.au/2011/06/28/lessons-from-manhattan/</link>
		<comments>http://www.prosper.org.au/2011/06/28/lessons-from-manhattan/#comments</comments>
		<pubDate>Tue, 28 Jun 2011 01:25:38 +0000</pubDate>
		<dc:creator>David Collyer</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[Commentary]]></category>
		<category><![CDATA[a running list of warnings]]></category>
		<category><![CDATA[boom-bust]]></category>
		<category><![CDATA[depression]]></category>
		<category><![CDATA[history]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[housing affordability]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[speculation]]></category>
		<category><![CDATA[US]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=3314</guid>
		<description><![CDATA[photo credit: atomicshark “The devil is in the details.” German Proverb A fascinating paper on Manhattan real estate in the 1920-39 era shows why property went down, stayed down and didn’t recover in real terms until 1960. ‘Real Estate Prices During the Roaring Twenties and the Great Depression’ by Nicholas and Scherbina makes a chilling [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Take your positions, please</title>
		<link>http://www.prosper.org.au/2011/06/09/take-your-positions-please/</link>
		<comments>http://www.prosper.org.au/2011/06/09/take-your-positions-please/#comments</comments>
		<pubDate>Thu, 09 Jun 2011 06:11:30 +0000</pubDate>
		<dc:creator>David Collyer</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[a running list of warnings]]></category>
		<category><![CDATA[affordability]]></category>
		<category><![CDATA[boom-bust]]></category>
		<category><![CDATA[depression]]></category>
		<category><![CDATA[Home Buyer's Strike]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[housing affordability]]></category>
		<category><![CDATA[speculation]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=3281</guid>
		<description><![CDATA[A debate is a chance to crunch opposing views. Strong ideas advance and poor ones are discarded. Good. But when participants and audience have already made up their minds, fresh argument goes nowhere. The Money Institute’s big debate in Sydney on Tuesday asked – Will the Australian Property Market Crash? The audience were dragged over [...]]]></description>
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		<slash:comments>19</slash:comments>
		</item>
		<item>
		<title>The pain in falling land prices</title>
		<link>http://www.prosper.org.au/2011/01/11/the-pain-in-falling-land-prices/</link>
		<comments>http://www.prosper.org.au/2011/01/11/the-pain-in-falling-land-prices/#comments</comments>
		<pubDate>Tue, 11 Jan 2011 04:57:39 +0000</pubDate>
		<dc:creator>David Collyer</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[affordability]]></category>
		<category><![CDATA[boom-bust]]></category>
		<category><![CDATA[depression]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[housing affordability]]></category>
		<category><![CDATA[land supply]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[speculation]]></category>
		<category><![CDATA[wealth gap]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=2650</guid>
		<description><![CDATA[photo credit: Travis S. The US housing market is a living hell.  Homeowners are being boiled alive. The price of land was bid up to staggering multiples of incomes, until it no longer made sense to buy a house. And then the trend turned, hard and fast. One in five US mortgages is ‘underwater’: the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>Dear Australia, the world is watching, waiting for our bubble to burst</title>
		<link>http://www.prosper.org.au/2010/04/29/dear-australia-the-world-is-watching-waiting-for-our-bubble-to-burst/</link>
		<comments>http://www.prosper.org.au/2010/04/29/dear-australia-the-world-is-watching-waiting-for-our-bubble-to-burst/#comments</comments>
		<pubDate>Thu, 29 Apr 2010 05:00:35 +0000</pubDate>
		<dc:creator>David Collyer</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[a running list of warnings]]></category>
		<category><![CDATA[affordability]]></category>
		<category><![CDATA[automatic stabilizer]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[behavior distorting taxes]]></category>
		<category><![CDATA[boom-bust]]></category>
		<category><![CDATA[depression]]></category>
		<category><![CDATA[greater fool]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[housing affordability]]></category>
		<category><![CDATA[land tax]]></category>
		<category><![CDATA[rates]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[speculation]]></category>
		<category><![CDATA[tax reform]]></category>
		<category><![CDATA[wealth gap]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=2067</guid>
		<description><![CDATA[  photo credit: robertivanc The great property speculation game is over in America and Europe.  The music has stopped. Forty years of steadily increasing pressure has been released.  Houses are worth a fraction of what people paid in better times, while the giant mortgages they took on remain. Meanwhile, Australia parties on.  We play the [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Six Factors to Flip Negative Gearing into Negative Equity &#8211; Someone&#8217;s Going to Get Hurt</title>
		<link>http://www.prosper.org.au/2010/04/01/six-factors-to-flip-negative-gearing-into-negative-equity-someones-going-to-get-hurt/</link>
		<comments>http://www.prosper.org.au/2010/04/01/six-factors-to-flip-negative-gearing-into-negative-equity-someones-going-to-get-hurt/#comments</comments>
		<pubDate>Thu, 01 Apr 2010 05:05:23 +0000</pubDate>
		<dc:creator>David Collyer</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[a running list of warnings]]></category>
		<category><![CDATA[aspirational]]></category>
		<category><![CDATA[beggar thy neighbor]]></category>
		<category><![CDATA[boom-bust]]></category>
		<category><![CDATA[depression]]></category>
		<category><![CDATA[economic rent]]></category>
		<category><![CDATA[FHOG]]></category>
		<category><![CDATA[financial literacy]]></category>
		<category><![CDATA[Henry review]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[Ken henry treasury tax review]]></category>
		<category><![CDATA[land supply]]></category>
		<category><![CDATA[negative equity]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[site rental]]></category>
		<category><![CDATA[speculation]]></category>
		<category><![CDATA[unearned increments of wealth]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=1911</guid>
		<description><![CDATA[  The Australian Tax Office has released figures on the extent of negative gearing in Australia ahead of the Henry Tax Review. This is no accident. They are preparing the ground for Ken Henry’s changes. The picture drawn is not pretty: it shows the nation’s ‘aspirational’ landlords, heavily weighted with borrowings, perched on a twig, [...]]]></description>
		<wfw:commentRss>http://www.prosper.org.au/2010/04/01/six-factors-to-flip-negative-gearing-into-negative-equity-someones-going-to-get-hurt/feed/</wfw:commentRss>
		<slash:comments>4</slash:comments>
		</item>
		<item>
		<title>Real estate bubble? Been here before</title>
		<link>http://www.prosper.org.au/2009/04/29/real-estate-bubble-been-here-before/</link>
		<comments>http://www.prosper.org.au/2009/04/29/real-estate-bubble-been-here-before/#comments</comments>
		<pubDate>Wed, 29 Apr 2009 00:18:25 +0000</pubDate>
		<dc:creator>Karl Fitzgerald</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[depression]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=1055</guid>
		<description><![CDATA[photo credit: dave_7 Polly Cleveland Economists conventionally attribute the Great Depression to blunders by the then-new Federal Reserve Bank. According to this story, promoted by Milton Friedman and the Chicago School, after the stock market crash of 1929, the Fed kept interest rates too high, strangling the economy. This story made most economists confident that [...]]]></description>
		<wfw:commentRss>http://www.prosper.org.au/2009/04/29/real-estate-bubble-been-here-before/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Hudson: Finance Capitalism Hits a Wall</title>
		<link>http://www.prosper.org.au/2009/02/19/hudson-finance-capitalism-hits-a-wall/</link>
		<comments>http://www.prosper.org.au/2009/02/19/hudson-finance-capitalism-hits-a-wall/#comments</comments>
		<pubDate>Thu, 19 Feb 2009 01:40:03 +0000</pubDate>
		<dc:creator>Karl Fitzgerald</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[depression]]></category>
		<category><![CDATA[Michael Hudson]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=825</guid>
		<description><![CDATA[photo credit: woodleywonderworks The Oligarchs’ Escape Plan – at the Treasury’s Expense By Prof. Michael Hudson see the original article and the growing list of comments on Information Clearinghouse The financial “wealth creation” game is over. Economies emerged from World War II relatively free of debt, but the 60-year global run-up has run its course. [...]]]></description>
		<wfw:commentRss>http://www.prosper.org.au/2009/02/19/hudson-finance-capitalism-hits-a-wall/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>US 3 Hours from Collapse &#8211; 18/09/08</title>
		<link>http://www.prosper.org.au/2009/02/17/us-3-hours-from-collapse-180908/</link>
		<comments>http://www.prosper.org.au/2009/02/17/us-3-hours-from-collapse-180908/#comments</comments>
		<pubDate>Tue, 17 Feb 2009 12:03:45 +0000</pubDate>
		<dc:creator>Karl Fitzgerald</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[depression]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=818</guid>
		<description><![CDATA[Hat tips to Magnifico, with further analysis It heats up at 2.10 into the clip.]]></description>
		<wfw:commentRss>http://www.prosper.org.au/2009/02/17/us-3-hours-from-collapse-180908/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Fundamental Answers to Fundamental Questions</title>
		<link>http://www.prosper.org.au/2009/02/02/fundamental-answers-to-fundamental-questions/</link>
		<comments>http://www.prosper.org.au/2009/02/02/fundamental-answers-to-fundamental-questions/#comments</comments>
		<pubDate>Sun, 01 Feb 2009 23:50:58 +0000</pubDate>
		<dc:creator>Karl Fitzgerald</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[a running list of warnings]]></category>
		<category><![CDATA[Bryan Kavanagh]]></category>
		<category><![CDATA[depression]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=752</guid>
		<description><![CDATA[The economic depression: an occasional commentary # 4 10th January 2009 Bryan Kavanagh, LVRG [If you wish to keep things simple and ignore unnecessary explanation, please proceed to the final, italicised paragraph.] The form of reductionism that has provided DNA sequencing of the human genome is leading to enormous gains in medical science; but reductionism in [...]]]></description>
		<wfw:commentRss>http://www.prosper.org.au/2009/02/02/fundamental-answers-to-fundamental-questions/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>The Depression &#8211; A Running List of Warnings</title>
		<link>http://www.prosper.org.au/2009/01/23/the-depression-a-running-list-of-warnings/</link>
		<comments>http://www.prosper.org.au/2009/01/23/the-depression-a-running-list-of-warnings/#comments</comments>
		<pubDate>Thu, 22 Jan 2009 23:58:06 +0000</pubDate>
		<dc:creator>Karl Fitzgerald</dc:creator>
				<category><![CDATA[Commentary]]></category>
		<category><![CDATA[a running list of warnings]]></category>
		<category><![CDATA[Bryan Kavanagh]]></category>
		<category><![CDATA[depression]]></category>
		<category><![CDATA[lvrg]]></category>

		<guid isPermaLink="false">http://www.prosper.org.au/?p=690</guid>
		<description><![CDATA[photo credit: funadium Over the next few posts we will bring you a series of reminders about how we and our colleagues have been warning about the impending financial peril for many years. The Depression An occasional commentary (for Australia’s federal politicians)      #1 4 December 2008 ASTONISHING EVENTS? At last night’s Lowy Institute lecture in [...]]]></description>
		<wfw:commentRss>http://www.prosper.org.au/2009/01/23/the-depression-a-running-list-of-warnings/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
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