The Australian dollar is struggling this morning:
Bonds the usual flatline:
XJO is soft”
Big Iron is up:
Big Gas not:
Big Gold is:
Big Banks have been sucked back into the bath of blood:
WBC technicals tell the tale. Supports all broken:
Property crash!
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.
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)
- SMEs ain’t booming - March 4, 2021
- No post-recession hairshirt for Europe this time - March 4, 2021
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Macro Afternoon
Asian stocks are swimming in a sea of red today
Return of the bank of mum and dad
History doesn't repeat but it sure does rhyme.
Macro Morning
Another reverse in risk sentiment overnight with
She's gunna blow! Yield harpoon aims at tech bubble
Millennials beware! You about to learn what
While I have no illusion that the government will try – and may succeed – to one again being about property price growth, the end doesn’t change. There will be a crash and it will ruin the joint. It’s not if, but when.
The big IF is will we learn from it?
Trying to sway a BB from the belief that houses only ever go up in value is like trying to convince a fundamentalist that his god does not exist !
Geordie
The Government WONT succeed
Geordie the problem with “when will we learn”
Learning the hard way is good if the ones who do learn get a 2nd chance to get out
Unfortunately there is no second chance
We will never see property prices back at 17/19 levels again in our life time.
We are at a structural end of a multi decade increase in prices, that we will never recover from
Property as a viable investment class is finished and property will only be for a utility now, something to stop you getting pneumonia
Property back to being a utility sounds great
House and Holes (and education) – And all are under attack at present. Unless we start bowing to our Chinese masters very soon this will end in spectacular form.
The fact that banks in every single country has not joined the rally goes to show how sick the credit market is and how far the consumer is stretched. This is a bottom up collapse. It starts with the low income, low skilled and young workers and it will keep working its way up as spending contracts, cutback are made, hours reduced, jobs are lost up the chain. This is the biggest difference to the 2008 crash.
very much agree
Apparently the SCMP is writing about the demise of the USD weekly now.
https://www.scmp.com/comment/opinion/article/3095534/why-us-dollar-slide-may-be-sign-real-danger-time?utm_source=Twitter
Sharemarket reverses into the green. Nothing to see here.
Just buy shares of whoever sells stuff overseas. Pretty simple. We’re just a big quarry remember.
Unless the people in lockdown are those who are literally operating drillbits it doesn’t matter.