Posts Tagged ‘recession’

Dear Australia, the world is watching, waiting for our bubble to burst

Thursday, April 29th, 2010

  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 [...]

The Tide Turns. The Media Awakes.

Thursday, April 22nd, 2010

photo credit: midlander1231   For too long, the media eagerly reported the property spruikers’ claim ‘prices only go higher’. This ‘truth’ turned homeowners into speculators and led a whole generation of first home buyers to commit to enormous mortgages they will only pay off after thirty years of unrelenting sacrifice. This week the public story [...]

Six Factors to Flip Negative Gearing into Negative Equity – Someone’s Going to Get Hurt

Thursday, April 1st, 2010

  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, [...]

The Geithner Plan = 40% of income for a right to a piece of land on which to stand.

Wednesday, March 25th, 2009

photo credit: country_boy_shane At least Timothy Geithner is showing a little spunk with his new shared equity plan. The government puts in effectively 93%, and the lucky bankers chosen put in just 7%. How does it work? Both the government and the bankers put in 7% equity, then the government lends the other 86%. When [...]

“The Way We Were and What We Are Becoming”

Tuesday, March 10th, 2009

photo credit: Genista Dr Michael Hudson tells it as it is on KPFA’s Guns and Butter! Make yourself a cup of tea and kick back to the real story!

GFC: Bankers and sub-primers just scapegoats

Tuesday, January 6th, 2009

photo credit: bortescristian The Bank of England now admits that the UK government failed to provide it with the tools needed to deal with boom/bust, according to an interview tonight on BBC’s Panorama programme. The missing tool was tax policy. “That’s why we can say that the global recession did not originate in the US [...]

Why the Predictable Crash of 2008 was not a Market Failure

Monday, December 8th, 2008

photo credit: Poppyseed Bandits When: 7pm, Thursday Dec 11th Where: Prosper Australia, Frank Halkyard Library, Level 1/ 27 Hardware Lane, Melbourne Why: Because the US style bailout is heading our way Who: Fred Foldvary is the Senior Editor of the highly regarded Progress Report. Fred Foldvary (USA) will provide an explanation of the real estate [...]

How to thaw credit, now and forever

Tuesday, October 28th, 2008

photo credit: Joel Bedford Mason Gaffney October 25, 2008 In a follow up to Professor Gaffney’s The Great Crash of 2008, he now delves into how credit can be freed from the current crisis. The Great Reckoning awaits… 1. Introduction Working capital is the bloodstream of economic life. It is physical capital, the fast turning [...]

Single Renters Miss Out on the PM’s Lifeboat

Monday, October 27th, 2008

photo credit: alexkon Karl Fitzgerald Project Coordinator and Web Editor the Saturday Age – Business section, p2, Oct 25th. FREE market principles are being put to the test like never before. With share prices collapsing, policymakers are scrambling to keep up with the loss of confidence in the market. Prime Minister Kevin Rudd has stepped [...]

The Recession We Could Have Avoided part 18

Saturday, October 25th, 2008

Thurs Nov 6th, 6.45 pm featuring Dr Gavin Putland Download flyer Which politician will use the ‘recession we could have avoided’ line? Rest assured Paul Keating will be invited. Dr Putland will discuss why asset price bubbles always end in tears. What trends have made such busts more prominent? What can be done to avoid [...]