April 27 links: Of greed and fools

David Llewellyn-Smith

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.

He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.

Latest posts by David Llewellyn-Smith (see all)

Comments

  1. We’ll know for sure tomorrow Lorax. The Bernank’s media conference post-FOMC-meeting adds a little theatre, and begs the question – what decision is the FOMC going to make that could warrant a cartoon-and-crayon session afterwards?
    Sounds like somebody isn’t going to be happy – I find it hard to believe it will be the investment community that’s the loser.

  2. “Oz too expensive for Poms” link is a broken link to MacroBusiness.

    Anyway, so we need more little lenders financed by dodgy RMBS to fix our banking system and tinkering with negative gearing for investors with more than one property will be a disaster for all and sundry. I feel more like emigrating every day.

    • Too bad readers of Glenda Korporaal’s article can’t leave a reply. I would like her to explain to the public why we should keep negative gearing when it is obvious from anaemic clearance rates and rising overpriced property inventory that there is no housing shortage. A nation with a housing surplus certainly doesn’t need negative gearing. A real shame to see such biased reporting in the media from someone with such a lovely Dutch surname–I can only hope that it is not her maiden name!

      • Yep. Found this particulary stupid:
        “There is a real danger that a “soak the rich” style approach to cutting back negative gearing will lead to a significant reduction in the availability of rental housing”

        And how will this “significant reduction in the availability of rental housing” be played out?

        Let me guess – investor either dynamites home before selling or leaves his/her ‘rivers of gold’ investment gathering cob-webs in the burbs.

        Clearly both are non-sensical statements but this is what MSM would have the sheeple believe – if you don’t give me my NG, I huff and puff and will not rent my rental property out.

        I find it hard to believe many investors would adopt this strategy but never let the facts get in the way of an agenda-setting MSM.