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Friday, 26 February 2016

Comedic interruption

I David Cameron, do not subscribe to your "good and evil" I am above such puny nonsense NOW PUT ON A PROPER SUIT!

Friday, 19 February 2016

Meet the new boss, same as the old boss

Turnbull here

Home owners across the country will see the value of the family home "smashed" under Labor's "very blunt, very crude" negative gearing policy, Prime Minister Malcolm Turnbull has warned.
In a blistering political attack on the opposition's policy, which was unveiled last weekend and which restricts negative gearing to new properties while also reducing capital gains discounts available to investors, Mr Turnbull warned " this should put concern into the minds of every single house owner".

And in a clear sign the federal government is prepared to launch a massive scare campaign in the lead up to the 2016 election over the Labor policy, which is designed to save $32 billion over a decade, Mr Turnbull warned "Bill Shorten's policy is calculated to reduce the value of your home".
"The Labor Party's negative gearing policy and its wind back on the capital gains discount – its increase in tax on capital gains – is a very dangerous one. It's been very, very poorly thought out," Mr Turnbull said.
"The consequence of it will be a decline in property prices, every home owner in Australia has a lot to fear from Bill Shorten."

Monday, 1 February 2016

Grexit. Done.

You get a new currency in Greece the instant the ECB closes the Greek central bank’s TARGET2 account. At that point all transactions across that interface will simple fail.

So all you need to do is put in place correspondent banking arrangement with commercial banks to do the *exchange* between Greek Euros and German Euros. And that simply requires a bank with a leg in both camps – a reserve account with Greece and a reserve account elsewhere in the Eurozone. Or a correspondent between two banks that achieves the same thing.

The problem here is a bunch of people over thinking the problem. Get down to the essence of the issue – exchanging Greek Euros for German Euros in a float situation.

Then you keep everything else *exactly the same as it is now*.


Of course the Greeks won't do it.