Tag Archives: keenwalk

An Incredible Experience

28 Apr

Well, the KeenWalk is over. And what an incredible experience it was! I can honestly say that I have never before had the pleasure of meeting so many truly wonderful, warm-hearted, intelligent, fascinating people in one place and time.

You can find some of my thoughts about the journey – and the reasons and purpose behind it – on the KeenWalk website, along with those of other fellow travellers.

And now, after a couple days to catch up on essentials, it’s back to the “business” of debt. So much of importance has happened in world markets while I’ve been away – Goldman Sachs, Greece, the IMF, Rudd Labor’s backflip on Foreign Investment rules for property purchases – one hardly knows where to begin!

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KeenWalk To Kosciuszko

15 Apr

From today through April 23rd, I am joining Professor Steve Keen on his 230km “Keenwalk” from Parliament House to Mount Kosciuszko, in protest against Australia’s property (and debt) mania that has been driven directly by the ill-conceived policies of successive Federal Governments, the RBA, and Australia’s high risk, mortgage-loaded banking system.

Please consider joining us for an afternoon section of the walk.

If you’d care to assist a genuinely worthy cause, then please consider sponsoring Professor Keen, or indeed myself. Funds raised are supporting the wonderful charity Swags For Homeless.

On my return – hopefully still upright and with all joints intact! – I will be back here collating more news stories from around the world, showing that Barnaby Is Right.

Thanks!

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Household Finances Deteriorate

20 Mar

From the Sydney Morning Herald:

The Australian economy is set to grow further in 2010, but household financial conditions are deteriorating to the extent the nation could experience a W shaped economic recovery, a report shows.

Melbourne Institute bulletin of economic trends shows the domestic economy is set to grow by 0.8 per cent in the March quarter and by 0.6 per cent in the June, September and December quarters.

But the report’s household financial conditions index fell 16.6 per cent to 28.8 index points in the March quarter of 2010.

It was the first fall in the index after four consecutive quarters of improvement.

More than half of the 14.4 per cent households who consider themselves to be financially stressed, are employed while employed people with a household income of over $80,000 are the most financially stressed out of all income groups.

The report said part of the deterioration in financial conditions was due to the increased need to service household debt, in particular mortgage debt.

This report indirectly highlights the very real danger of Australia’s unprecedented level of private debt. And in particular, mortgage debt.

Economist Steve Keen, who predicted the GFC in 2005, is Australia’s leading proponent of the argument warning against high private debt levels, and against government policies which have dangerously inflated Australia’s private debt, such as the First Home Owers Boost.

Visit Professor Keen’s ‘Debtwatch‘ website to learn more.

Special Note:

On April 15th through 23rd, I will be joining Professor Keen in his 230km “Keenwalk” from Parliament House to Mount Kosciuszko, in protest against Australia’s property (and debt) mania that has been driven directly by Federal Government and RBA policies.

Please consider joining us, for the whole trek or even just for an afternoon section of the walk.

If you’d care to assist a genuinely worthy cause, then please consider sponsoring Professor Keen, or indeed myself. Funds raised will support the wonderful charity Swags For Homeless.

Thanks!

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