tag:blogger.com,1999:blog-20599948.post4668895509669037509..comments2023-10-10T05:38:32.063-07:00Comments on Draw, Run, Write.: Fancy 2 wagers?ohminous_thttp://www.blogger.com/profile/10362629902969757305noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-20599948.post-52411970202743206162009-01-12T15:38:00.000-08:002009-01-12T15:38:00.000-08:00I'll check out Taleb and have a look for his Black...I'll check out Taleb and have a look for his Black Swan Book it sounds interesting.<BR/><BR/>As for Indifference to real estate crashes I think the best way is shifting tax burden from productive activities onto resources like real estate that are currently classed as capital and can be sold as private property instead of leased from the community. <BR/>That solution I believe in a land obsessed country like Oz is not politically pragmatic although Canberra was initially developed on such a tax basis.<BR/><BR/>As for selling resources, I'm not sure, I did another post on Australia's economic model called 'the hole lotta resources' model and I think resources are the equivalent of savings or an inheritance (or missapropriation in Australia's case) and whilst the idea of savings is to spend them at some point, GNP calls spending more of your savings 'growth' and by default a good thing. <BR/>China's role in this has been that of a buyer for a country that is liquidating. <BR/>GNP says spending and consuming is inherently good. The big questions for Australia's resource driven economy is whether we are spending our savings on worthwhile pursuits? And for me at least there's big questions on whether any of the coal sold to China's aggressive growth model has been worthwhile for the global community (since the goods were sold to people who really can't pay, and environmental degredation in China to boot) and whether the proceeds from the sale of our resources have been put towards transforming Australia into a sustainable economy (and I see little evidence of that).<BR/><BR/>So I'd rather see the government taxing heavily things like coal and delivering all that into expansion of education and health care systems and so fourth. I'd feel much more comfortable then. But with a 5% Carbon Cut target I predict it will be the hard path for Australia.ohminous_thttps://www.blogger.com/profile/10362629902969757305noreply@blogger.comtag:blogger.com,1999:blog-20599948.post-56076670666794556942009-01-11T22:48:00.000-08:002009-01-11T22:48:00.000-08:00There is some pretty insightful stuff in this - go...There is some pretty insightful stuff in this - good job! <BR/><BR/>you seem to have ingested the useful stuff from economics - and show a justifiable scepticism about other parts of it.<BR/><BR/>Surely the thing to do is to get yourself into a position where you're reasonably indifferent to China or Aus real estate crashes - while still selling resources to China and having somewhere to live?<BR/><BR/>If you're not across it already, I think you'd find Nicholas Nassim Taleb interesting.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20599948.post-52412515682230525352009-01-11T22:04:00.000-08:002009-01-11T22:04:00.000-08:00Oh, I forgot, I like the section on the housing bu...Oh, I forgot, I like the section on the housing bubble too.mr_johnhttps://www.blogger.com/profile/10359155236927871673noreply@blogger.comtag:blogger.com,1999:blog-20599948.post-13591980472651956422008-12-08T02:58:00.000-08:002008-12-08T02:58:00.000-08:00Very interesting and thorough commentary. Thanks....Very interesting and thorough commentary. Thanks.Anonymousnoreply@blogger.com