http://www.debtdeflation.com/blogs/2008/03/14/change-of-time-for-canberra-talk/ Analysing Australia's 45 Year Obsession with Debt Thu, 20 Nov 2008 22:34:50 +0000 http://wordpress.org/?v=2.6.1 http://www.debtdeflation.com/blogs/2008/03/14/change-of-time-for-canberra-talk/#comment-826 Ken Tue, 18 Mar 2008 03:16:20 +0000 http://www.debtdeflation.com/blogs/2008/03/14/change-of-time-for-canberra-talk/#comment-826 There seems to be a belief that the problem in the US is restricted to subprime debt, so it wont happen here, but half their foreclosures are for other types of mortgages. Banks are also having trouble keeping up with the foreclosures, so it is no surprise that the value of any debt is becoming an unknown quantity. Meanwhile here it is business as usual. I'm waiting for the moment when the reserve bank drops interest rates and the banks simply increase their margins, as has happened in the US. There seems to be a belief that the problem in the US is restricted to subprime debt, so it wont happen here, but half their foreclosures are for other types of mortgages. Banks are also having trouble keeping up with the foreclosures, so it is no surprise that the value of any debt is becoming an unknown quantity. Meanwhile here it is business as usual. I’m waiting for the moment when the reserve bank drops interest rates and the banks simply increase their margins, as has happened in the US.

]]> http://www.debtdeflation.com/blogs/2008/03/14/change-of-time-for-canberra-talk/#comment-823 Keith Thomas Mon, 17 Mar 2008 12:35:00 +0000 http://www.debtdeflation.com/blogs/2008/03/14/change-of-time-for-canberra-talk/#comment-823 Written an hour after the Canberra talk: Thank's Steve for a very professional presentation with great graphics. I won't pretend to have understood it all, but I am sure I got the "take home" message. So much of Australian life is viewed through the lens of American television so it was salutary to realize that we have the makings of worse economic problems in Australia in the next two years than they will have over there. Written an hour after the Canberra talk: Thank’s Steve for a very professional presentation with great graphics. I won’t pretend to have understood it all, but I am sure I got the “take home” message. So much of Australian life is viewed through the lens of American television so it was salutary to realize that we have the makings of worse economic problems in Australia in the next two years than they will have over there.

]]>