How long will people choose to hold any wealth in cash given it’s losing value thanks to negative real rates of interest…?
PEOPLE don’t always do what policy-makers expect or demand of them. And a good job, too.
Posts tagged as:
interest rates
Greeks Pay Tax as an Option
So, who gets to play Lehmans in this comedic repeat…?
ISN’T GREECE marvellous?
Paying income tax, or any kind of tax it would seem, has been entirely optional. Which should have powered its economy like 1960s’ Hong Kong.
But public spending, however, accounts for 40% of GDP. So who financed that spending if so few people paid?
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How Unaffordable is Australian Housing?
Well, it’s nice to see that the mainstream media have started to wake up about the lies surrounding the housing shortage.
Eagle-eyed Money Morning reader Gary sent us this link to The Australian:
“Homeless figures are ‘distorting housing shortage’”
Nice work. It’s just a shame we revealed that fact back on August 24th last year when we wrote, “Revealed: The Housing Shortage Lie.”
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Gold Seen “Tracking the Dollar” as “Ticking Timebombs” Threaten Euro Currency
THE PRICE OF GOLD was little changed Thursday morning in London, recording its lowest AM Fix since Nov. 13th at $1125 per ounce as the US Dollar held onto this week’s rally on the currency market.
Both the Swiss and UK central banks kept their key interest rates at historic lows of 0.25% and 0.50% respectively.
Gold priced in Euros and Sterling hit new 3-week lows below €762 and £690 an ounce.
The Paris stock-market fell hard on news the French government is following London with a one-off 50% levy on banking bonuses.
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Reserve Bank of Australia Cannot Manipulate Interest Rates to Control an Economy
Your editor is on a double shift today. We’re switching between writing today’s Money Morning and filling in for Dan Denning at Daily Reckoning.
Over at Daily Reckoning we gave the Climate Change ‘tree’ a bit of shake. You can check out what we had to say later on today after our webgeeks post the article to the Daily Reckoning website.
But on this side of the building on Fitzroy Street we’re taking another swipe at the banks.
Last week we tipped our cap to Westpac for trying to make a buck out of the interest rate rises by anticipating the Reserve Bank of Australia’s next move.
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