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“I support special levies – including most of the Howard government’s levies – because they teach a freeloading electorate the most basic economic lesson: if you want it, you have to pay for it.” – Ross Gittins, The Age We knew there was something we were supposed to write about last week – the Flood [...]

Editor’s note: Kris Sayce is on holiday  this weekend. In his place, we bring you Nickolai Hubble with the Daily Reckoning Weekend Edition. If you  like Nick’s style, feel free to sign up for regular delivery of the DR weekend edition here. So, the world has survived the mortgage debacle and the stock market free [...]

Today is Australia Day and we’re taking the day off.  In fact, we’re taking a few days off. While we’re away our hot-seat will be filled by a host of other characters.  We’ll be back next week sometime… Thursday if we remember rightly.  Until then… A quick note on Australia’s overpriced housing.  Yesterday we wrote: [...]

The next few weeks will see the stock market officially enter the strongest seasonal trading period. The market has risen 25 out of the last 30 years from mid-December to January 10. If traders think there’s a greater than 80% chance of the market rallying over the next few weeks you can be sure to [...]

Today your editor is beavering away at finishing the November issue of Australian Small-Cap Investigator. That means a couple of the subjects I wanted to bring up today will have to wait until tomorrow – the Irish bailout was one of them, and proof of Reserve Bank of Australia manipulation in housing markets was another. [...]

Poor old Paul Bloxham, chief economist at HSBC Australia. In the space of a few days he’s gone from being premium foie gras to plain old chopped liver. From being the toast of the town to just vegemite on toast. Last month you could barely turn the pages of the business press or avoid an [...]

If you want a perfect example of how central bank intervention and government manipulation is stitching up the little guy, look no further than this headline from last week, “Goldman No.1 at Rating Financial Companies With 38% Right”. According to the article by Bloomberg News: “Goldman Sach’s analysts won their No.1 rank by making 30 [...]

The property spruikers have gotten themselves quite excited about an article by PIMCO Australia chief, John Wilson in Business Spectator last week. Mr. Wilson headlined the article, “Our non-existent housing bubble.” As you can pretty much guess from the headline, Mr. Wilson sums up the article saying: “The demand for housing is determined by the [...]

“We publish ideas that are on the fringe. But they’re ideas that are moving towards the mainstream. When they get there we sell. There’s no point pursuing an idea if it stays at the fringe.”
Those are the paraphrased words of our colleague and Daily Reckoning commentator Bill Bonner.
Bill was the opening speaker [...]

Yesterday, RBA Assistant Governor Guy Debelle spoke at the “Risk Australia Conference” in Sydney.
The one-day conference, which would have cost those interested, up to USD$2,800 to attend, was held at the plush surroundings of the Hilton Hotel in Sydney.
Among the sponsors of the “Risk Australia” conference was Credit Suisse. Credit Suisse, of course, is [...]