Whenever I’m out and about I’m always looking for examples of creative destruction or disruptive business.
But sometimes it hits me when I’m not even thinking about it…
December 8th, 2011 | Kris Sayce | 2 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.
Gold: The Market Has Already Decided
Editor’s note: Today’s Reckoning comes from Money Morning Editor Kris Sayce, currently up in Sydney at The Gold Symposium talking about all things shiny and yellow with your regular editor Dan Denning…
Live from the Gold Symposium in Sydney…
November 14th, 2011 | Kris Sayce | 4 comments | Continued
A Bright Future for Destruction
What drives progress? The answer is simple. And it probably won’t surprise you. But it’s hard to focus on progress when all you see is regression.The Financial Times headlines, “Italy turns to China for help in debt crisis”. The Age says, “Retailing to go from ‘bad to worse’”. And Bloomberg News reveals, “BofA [Bank of America] to Slash 30,000 Jobs in Cost-Cutting Plan”.
September 13th, 2011 | Kris Sayce | 6 comments | Continued
Why Central Bankers Prefer a Long Depression
“The problem of leverage, the sheer volume of debt in the economy, is still very large and this poses massive macro-economic challenges. I think these macro-economic challenges will last many years.” So says Bank of England Governor, Mervyn King.
May 4th, 2011 | Kris Sayce | 1 comment | Continued
Housing or Entrepreneurs?
The spin continues. Today’s The Age reports, “ANZ bumper proft [sic]”. We assume a “proft” is the same as a profit. The paper explains: “ANZ Bank has posted a record first-half profit of $2.664 billion, up 38 per cent on the corresponding period last year…
May 3rd, 2011 | Kris Sayce | 8 comments | Continued
Why Spending on Infrastructure Won’t Lead to Prosperity
It’s an argument we see and hear all the time in Australia – “Spend on roads, spend on ports to reduce bottlenecks, spend on schools,” and so on. Well, if you want to see the longer term impact of infrastructure spending and how it isn’t the golden egg laying goose, just take a look at America today.
September 23rd, 2010 | Kris Sayce | 26 comments | Continued
Aged Pension MkII
It would mean that the hundreds of thousands of dollars, or even millions of dollars that you’ve accumulated in your superannuation fund would be compulsorily acquired by the government on your retirement and in return you would get an Aged Pension MkII.
The worst thing about it is that it was a commissioned submission…
December 11th, 2009 | Kris Sayce | 24 comments | Continued
Messages from Copenhagen Climate Change Conference
Those are just four messages out of 3,860 posted on the Copenhagen Climate Change Conference website.
Reading just a handful of those messages – all in favour of world leaders “doing something” of course – it’s no wonder bureaucrats and politicians of the world believe they’ve got a mandate to rip billions of dollars from the hip pocket of the world’s taxpayers.
December 7th, 2009 | Kris Sayce | 23 comments | Continued
A Look at Debt and Super
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 | 4 comments | Continued
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
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
