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The Tide Turns. The Media Awakes.

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...

The Cost of Living – Somewhere, Anywhere

  photo credit: MarcelGermain Should I buy now or rent and save a bigger deposit while I wait? Houses cost money. How much should they cost? These are long-life assets and the price paid can change a lot. Good timing can lead to a lifetime of heavy debt repayment or a...

Put away that cheque book, home buyers

photo credit: UGArdener   This morning, Reserve Bank of Australia Governor Glen Stevens appeared on Seven Network’s Sunrise program to talk up interest rates and talk down the property market. Using tabloid television to broadcast RBA views is unprecedented. It...

Economic depressions for dummies

photo credit: azrainman Occasional commentary # 9 27 March 2009 Bryan Kavanagh Let’s say labour joins with capital to produce wealth. The locational rent of land arises as a by-product, simply from the existence of the community. Say, for some reason or other, you...

Taking the ‘con’ out of ‘confidence’

An occasional commentary on the depression # 8 5 March 2009 Bryan Kavanagh* There’s something happens when people get together in groups. Their IQs halve. If the most obvious fact an outsider puts to the group is incomprehensible to them, the interloper should be set...

Fundamental Answers to Fundamental Questions

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...