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All Posts Tagged With: "aussie banks"

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Why Australian Banks Make Lousy Investments Right Now

Moody’s has just released a report claiming that Australian banks are the “most exposed” banks in the Asia-Pacific to a worsening of Europe’s sovereign-debt problem. What exactly does that mean?

February 7th, 2012 | Dan Denning | 1 comment | Continued
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Shadow Banking and The Golden Pyramid

Yesterday in our article about gold’s price going down we discussed gold and the shadow banking system. Today we’ll explain how it all fits together and what it means for the markets and your investments.

December 16th, 2011 | Greg Canavan | 2 comments | Continued
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S&P Puts Culture of Greed on Death Watch

Well you can forget about today’s modest little overnight rally in the US and Europe. Ratings agency Standard and Poor’s rained on everyone’s parade after the market closed. S&P downgraded 37 global banks. It upgraded two.

You’d think banking would be a low-profit, low-growth business to be in during a Credit Depression. At least we’d think so.

November 30th, 2011 | Dan Denning | 0 comments | Continued
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Australian Debt – The Deleveraging Has Not Even Begun

While global leaders (we use the term very loosely) gather in the trendy French town of Cannes to ruminate on the myriad problems caused by too much debt, Aussie banks are still reaping the benefits of an increasing Australian debt.

November 3rd, 2011 | Greg Canavan | 6 comments | Continued
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Reserve Bank Agrees There is a Housing Shortage in Australia

RBA assistant governor Philip Lowe said in a speech in Sydney yesterday that constraints on home building are restricting the supply of homes in Australia. The shortage is one factor keeping prices up. Nothing was said about the lending boom.

March 11th, 2010 | Dan Denning | 43 comments | Continued
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Federal Reserve Increases Rate at Which Banks Can Borrow From It

In a debt drugged, liquidity obsessed world, a change in interest rates can go from affecting profitability to affecting solvency very quickly. And it’s not just the banks that are high on cheap credit.

February 27th, 2010 | Nickolai Hubble | 0 comments | Continued
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Historians May Write: In Order to Save Greece, it Was Necessary to Destroy the Euro

The bigger story is that Greece hasn’t been abandoned by the rest of Europe…yet. Europe could probably leave Greece behind and preserve the integrity (such as it is) of the euro as a sound currency. But 50 years of harping on about social justice and economic harmony and humane capitalism is going to make it hard for policymakers to leave Greece to its own devices.

February 17th, 2010 | Dan Denning | 19 comments | Continued
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CBA and Their Bad Debt Problem

It rode the FHOG to higher loan values and volumes and market share. If those borrowers struggle with higher interest rates or – horror of horrors – Aussie house prices grow less fast (or even fall) – we’d expect to see the bad debt problem again affect earnings growth…

February 10th, 2010 | Dan Denning | 119 comments | Continued
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Bond Scam Perpetrated by Money-grubbing Government

So how does a government fund its spending programs if global creditors begin to turn to other assets? Well, it can have its own central bank “monetise the debt.” But having the central bank buy government bonds with new money is a sure-fire path to currency depreciation and higher interest rates.

November 23rd, 2009 | Dan Denning | 2 comments | Continued
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Speculators and Chinese Firms Accumulating Australian Resource Companies and Commodities

And while China and America bicker over currencies, Chinese firms are scrambling to buy real assets. And while Aussie banks source foreign borrowing to lend in local real estate, Aussie mining firms go begging for bits of capital that would bring world-class ore bodies (and key strategic resources) into production…by local producers and owners.

November 19th, 2009 | Dan Denning | 1 comment | Continued
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Rally in Stocks and Rise in Aussie Dollar is a Result of the Carry Trade

That’s just what happened last year. Only then, it was both a dollar and yen carry trade that led to a rise in Aussie assets. Once the credit crisis set in, the yen carry got dropped and investors fled risk assets and piled right back into the greenback and U.S. Treasuries.

October 29th, 2009 | Dan Denning | 9 comments | Continued
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IMF Report Concludes Aussie Banks are “Very Sound”…

The Guv also said he would not be too timid about raising interest rates. He believes the threat [of global financial calamity] has passed and that the bigger threat may well be inflation. That kind of tough talk sent the Aussie dollar right up to over 92 cents against the greenback. If it weren’t late fall, now might be the perfect time to take a trip to America and see how cheap things really are.

October 16th, 2009 | Dan Denning | 13 comments | Continued
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Government Stimulus Programs Make Life Harder For Banks

Just to recap, government borrowing draws away capital from businesses that might use it to invest in productive projects that generate a real return. What you get in return is higher debt, probably higher interest rates, and people who’ve never really had to earn a paycheck or meet a payroll deciding how to allocate capital. And you still think it’s a good idea?

October 1st, 2009 | Dan Denning | 6 comments | Continued
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A National Mortgage Bubble

This brings us to a quick point about the Aussie property market. A frequent complaint in the e-mail box is that house prices are a local and not national phenomenon. If that’s right, then it doesn’t make any sense to talk about a national property bubble…because there can’t be one, can there!?

August 11th, 2009 | Dan Denning | 2 comments | Continued
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Building a National Economy Around the Housing Industry

Let’s also assume that the government cannot borrow its way to larger stimulus payments. With lower spending forecast for government, businesses, and households, you begin to wonder if Australia’s economy has a home grown engine, or if it will rely on something else, or someone else beyond the borders.

July 30th, 2009 | Dan Denning | 9 comments | Continued
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