Corrupt APRA warns on housing speculation, eggs it on

The corrupt Wayne Byers and his disgraced APRA have undertaken a new round of arse covering, from a speech Friday:

APRA recently issued its four-year Corporate Plan for 2019-2023. In it, we called out four key outcomes we will be seeking to deliver for the Australian community: maintaining financial stability and resilience within the financial system; improving member outcomes in superannuation; transforming governance, culture, remuneration and accountability in the financial sector; and improving cyber resilience.

The vast bulk of the questions and media coverage we received on the Plan related to the last three. Despite the volatile and somewhat perilous macro and geopolitical environment in which we are operating, there was less interest in financial stability and resilience.

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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.