PM Gillard’s defiant speech to the Minerals Council of Australia yesterday – asserting national ownership of our mineral wealth and the country’s right to a share of the bounty being dug up and shipped out – was good politics, good economics and a much needed assertion that government makes the decisions, not the wealthy. But […]
Reprinted from The Conversation. Since the beginning of the global financial crises in 2007, there have occurred numerous economic and financial crises around the globe, plunging often prosperous nations into hardship and even near bankruptcy. These crises, typically generated by overlending by the financial sector and crashing housing bubbles, are often blamed upon two parties […]
Frank de Jong highlights how the privatisation of the naturally rising value of land plays out on a city and the developments that both do and don’t result because of this. A great learning piece.
Tidal Race. Definition: a stream of exceptionally fast tidal flow created when the tide is forced through a constriction. Australians are saving like mad and quickly paying down debt. But we stand in a Tidal Race, where the water rises faster than a person can run. The modest fall in property prices nationally of about […]
Reposted from Bryan Kavanagh’s thedepression.org.au, an excellent source of dissident economic analysis. It helps that he is correct. If you jump off the top of a tall building, you’ll go splat at the bottom: that’s simple physics. We are told economic laws are not as certain as those of physics, but this isn’t so. It’s […]
Corrected at 1730 to adjust (upward) the renovation figure. Many thanks, Steven Shaw for pointing out my error. Toby Johnstone is out again in the SMH recording how two brothers wasted nearly two years of their lives and endless toil renovating a Cleveland Street Chippendale terrace. It sounds like a profitable venture but even a […]
A nifty clip from our South African colleagues Karen Cooper and Peter Meakin. Of note is their useful method comparing 300Rd p/m in land rent to the 60,000Rd we currently pay to banksters.
The Productivity Commission has just released a draft report on climate change adaptation for public comment. The report examines economic reform options in two broad categories: adaptations to uncertain future climate trends with benefits only under certain climate change scenarios – to which it gives low priority; and, low-cost, reversible actions that can be taken […]
Today’s Sydney Morning Herald has a breathless article about a flipper couple who bought, renovated and have for sale a Marrickville terrace. The underlying message: there’s profit in the renovation game. My back-of-envelope calculations based on the article’s figures show they will lose around $43,000 on the transaction if they sell for the $680,000 mentioned […]