Credit crunch panics Highrise Harry

Tuesday, 5 June 2018

With the Gotti foghorn away, Highrise Harry has had to turn to the AFR:

“There is nothing wrong with our banks, I promise you,” Mr Triguboff told The Australian Financial Review. “I assure you they make mistakes, so do we all. But there is nothing wrong with them. They are shell shocked and if affects all of us.”

The 85-year-old…said using expenses to help justify if and how much a person could afford to borrow was “the dumbest thing to do in the world”.

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About the author

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.