The article made three basic points. The deposit base of Aussie banks is “too low.” Aussie banks are over-reliant on offshore money. This entire situation is a “threat to economic recovery.” So it appears Aussie banks are addicted to foreign borrowing and are currently suffering from withdrawal symptoms. In case you missed it a few months ago we’ll say it again: Australia’s property boom was bought with borrowed money…
June 18th, 2009 | Dan Denning | 18 comments | Continued Our DR Global Editions: 
Saturday, March 20th, 2010
-
-
The Markets
All Ordinaries 4890.10 +12.40
S&p/asx 200 4872.20 +9.10
Sse Composite Ind 3067.75 +21.66
Gold Mar 10 1107.40 -20.00
Crude Oil Apr 10 80.68 -1.57
Nikkei 225 10824.72 +80.69
DJIA 10741.98 -37.19
S&P 500 1159.90 -5.92
Ftse 100 5650.12 +7.50
2010-03-19 01:38 Most Comments
- Majority of Australians Believe House Prices Will Rise in Next Twelve Months (292)
- A Date for an Aussie House Price Collapse (251)
- Australian Housing More Unaffordable in 2010 (199)
- Australian House Prices Are Severely and Seriously Unaffordable (184)
- Tell Us What Questions You Want Answered in the DR (173)
Search
Archives
-
Recent Comments
-
Australian properties are alarmingly overvalued, they are the most expensive in the world (median house price to median income ratio). ...
nick | 20Mar10 | More -
Don't forget the delightful 60% increase in electricity prices for NSW - coming to a state near you! Will this ...
Don | 20Mar10 | More -
CA, oilprice and China
http://www.nytimes.com/2010/03/20/business/energy-environment/20saudi.html?pagewanted=1&hp
Ross | 20Mar10 | More -
Doesn't look all that good over there, does it Shoes?!~
""When people are on a bigger income, they tend to borrow ...
Biker Pete | 20Mar10 | More -
Over on the east side of Australia though.....
http://www.heraldsun.com.au/news/resurgent-victorian-housing-market-putting-borrowers-under-strain/story-e6frf7jo-1225843006608
Stillgotshoeson | 20Mar10 | More -
You're correct... I'm speaking 'in the present'. Given our situation, I think your assertion that I'm 'the grasshopper' in Aesop's ...
Biker Pete | 20Mar10 | More -
M3 data is not very accurate tho Prozac, it tends to overstate monetary inflation. Unfortunately I cant find any TMS ...
Anon | 20Mar10 | More -
Certainly a lot of contradictory information out there.
I strongly expect inflation, and biker Pets comments are real, as the ...
nick | 20Mar10 | More -
Thanks for the link Prozac.
lol look at m3 growth from January 2001 to January 2010. 168% rise !
I wonder ...
Anon | 20Mar10 | More -
confusion reigns for those who mix talking about price inflation with inflation.
The definition in this piece is the most accurate ...
prozak | 20Mar10 | More
-
Australian properties are alarmingly overvalued, they are the most expensive in the world (median house price to median income ratio). ...
© Copyright The Daily Reckoning Australia & Port Phillip Publishing Pty LTD 2010 All rights reserved.
Port Phillip Publishing Pty Ltd holds an Australian Financial Services License: 323 988. View our Financial Services Guide.
ACN: 117 765 009 ABN: 33 117 765 009
Port Phillip Publishing
Attn: Daily Reckoning Australia
PO Box 899
Braeside
VIC 3195
Tel: 1300 667 481
Fax: (03) 9558 2219