But despite that warning, and despite debt far in excess of their incomes, Aussies are STILL spending money like it’s going out of fashion.
November 11th, 2009 | Kris Sayce | 3 comments | ContinuedArchive for Kris Sayce
Kris Sayce began his financial career in the City of London as a broker specializing in small cap stocks listed on London's Alternative Investment Market (AIM). At one of Australia's leading wealth management firms, Kris was a fully accredited adviser in Shares, Options and Warrants, and Foreign Exchange. Kris was instrumental in helping to establish the Australian version of the Daily Reckoning e-newsletter in 2005. In late 2006, he joined the Melbourne team of the leading CFD provider in Australia.
Attention Dr. Ken Henry: Government Could Make Employee Voluntary Contributions Compulsory
Maybe she didn’t support an effective 30% compulsory super contribution after all. Time for some humble pie we thought.
And then we ‘un-thought’ the idea of eating some humble pie.
It seems that rather than coming to the wrong conclusion, instead we made a schoolboy error by quoting the wrong part of the submission.
September 24th, 2009 | Kris Sayce | 24 comments | Continued
Proposals Inviting Government to Take Money from You and Give it to Someone Else
Look, there’s nothing wrong with looking for the perfect solution to something, we try to do that all the time. There is one difference though. We favour getting rid of regulations, taxation and compulsion and letting free enterprise and dare we say it, the individual make their own choices.
September 23rd, 2009 | Kris Sayce | 23 comments | Continued
US Dollar As Reserve Currency Not Working Very Well
Their report makes some of the right noises, “The dollar-based reserve system is increasingly challenged.” Hmm, a slight understatement there. If “increasingly challenged” is a euphemism for “dead” then we’d agree.
But we don’t think that’s what they mean.
September 10th, 2009 | Kris Sayce | 38 comments | Continued
Property Buyers Are Not Buying Property at All
Regularly we receive emails into the Money Morning mailbag asking us for advice on whether the reader should buy a home now, or sell their home now.
Our response is always the same – no response. That’s because unfortunately our licence prohibits us from offering personal financial advice. All we can do is keep things nice and general in these emails.
August 25th, 2009 | Kris Sayce | 41 comments | Continued
Property Spruikers Claim Australia Suffers from a ‘Chronic Housing Shortage’
Shortly, I’ll show you once and for all that Australia does not have a ‘chronic’ housing shortage. Further, I’ll show you that as soon as government runs out of ways to manipulate the housing market, prices will collapse.
To be honest reader, your editor is almost speechless.
August 24th, 2009 | Kris Sayce | 42 comments | Continued
Australian Property Market is “Recovering”
As we said at the ‘Australia in the Red’ debt summit, “recovering from what?” For something to recover you generally need to show symptoms of sickness. So far all the Australian property market has shown is a couple of spots.
But these ’spots’ are potentially hiding something much, much worse.
August 7th, 2009 | Kris Sayce | 34 comments | Continued
Spending Our Way to a Depression
What happens if spending doesn’t pick up? Because businesses have brought forward all their investment to today. Don’t forget, there are still forecasts for unemployment in Australia to rise above 7.5% – some have even forecast closer to 10%. Companies are laying off staff, and corporate and government borrowing must still be repaid…
June 23rd, 2009 | Kris Sayce | 17 comments | Continued
Australians Pay More Tax Despite Tax Cuts
Australians pay waaaaaaaaaaaay too much tax. We’ve highlighted before that the government’s total tax intake is around 40% of GDP. We’re aware the government enjoys expressing things as a percentage of GDP, although we haven’t heard them mention that statistic too often. So, we thought we would pay a visit to the Australia’s Future Tax System website, and in particular drop-in on the terms of reference for the review…
May 27th, 2009 | Kris Sayce | 9 comments | Continued
Is Kevin Rudd Planning to Steal Your Superannuation and Bankrupt Your Retirement?
Is Kevin Rudd coming for YOUR retirement cash? The next logical step is for the government to grab the superannuation balances of all working Australians. Read on…
May 19th, 2009 | Kris Sayce | 33 comments | Continued