The Glass Pyramid

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Recent Comments

Violet on RBA Watch:  Luci and the Platy…
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NSW Secrets: Gladys, who is buying all the property in NSW?

By The Glass Pyramid on 11/03/2017 • ( Leave a comment )

NEWSFLASH   – Since publishing this post on Saturday there has been a flurry of activity by the State Government, as some foreign buyer data for the period July through September 2016 […]

Gas shortages! A National Export Volume Auction is the solution to the Australian Gas Crisis.

By The Glass Pyramid on 10/03/2017 • ( 2 Comments )

The papers are full of stories about Australian companies being gouged and charged top dollar for LNG supplies at the same time as a bunch of international companies extract our gas reserves […]

Bank Watch: Aussie Bank CEOs deny nicotine is addictive!

By The Glass Pyramid on 09/03/2017 • ( 6 Comments )

Sorry there was a typo in that headline. “Bank CEOs deny Australian Housing is in a bubble” is what it should have said but in terms of denying the obvious it is […]

Oz Bank Watch:  The root cause of the Australian housing bubble fiasco.

By The Glass Pyramid on 07/03/2017 • ( Leave a comment )

An excellent interview from Renegade Inc. Professor Richard Werner and David Buik talk with the host Ross Ashcroft about what is wrong with modern banking – especially in the UK. Plenty of […]

Australian Property Investors: Beware! the tax man’s new powers cometh

By The Glass Pyramid on 04/03/2017 • ( 3 Comments )

With the ongoing and loud debate about the merits of negative gearing and property investment, Australian property investors may not be paying enough attention to the mountains of property data the ATO […]

Australian Housing: Foreign buyers running amok?

By The Glass Pyramid on 03/03/2017 • ( 4 Comments )

Douglas Driscoll, the CEO of Starr Partners – real estate agents – reckons that foreign buying of Australian real estate is out of control. It is a good indication just how out […]

RBA Watch:  Luci and the Platypus

By The Glass Pyramid on 17/02/2017 • ( 11 Comments )

Seasoned RBA Watchers always look forward to speeches by Luci Ellis. Although solid as rock when it comes to preserving the sacred myths and fables of modern neoliberal era central banking, there […]

Budget 2017: Plans to cut the CGT concession? Not likely

By The Glass Pyramid on 16/02/2017 • ( 4 Comments )

There is a story running in the Australian Financial Review today by Phil Coorey suggesting that Mr Morrison is thinking about reducing or eliminating the CGT concession that has made residential property […]

House Prices – Can they fall without crashing the economy?

By The Glass Pyramid on 15/02/2017 • ( 8 Comments )

Everyone seems to be agreed that house prices in Australia are high …. very high…. nose bleed high …. international jet set standards high. Sure there are a bunch of Bernard Salt […]

Book Review: The Production of Money – Ann Pettifor

By The Glass Pyramid on 12/02/2017 • ( 11 Comments )

If the Great Financial Crisis  “GFC” (Australian for the Great Recession)  taught us anything, and to date it appears not much has been learnt, it is that a solid understanding by the general […]

RBA Watch: Lucky Phil settles a tough room.

By The Glass Pyramid on 10/02/2017 • ( 9 Comments )

Over the soft tinkle of China and silverware, amidst the contented purrs as Peach Melba slid from hundreds of spoons, the Lucky Country Central Banker in Chief Governor Phil ‘Lucky’ Lowe cast […]

Border Farce:  Dutton’s Open Borders Fiasco

By The Glass Pyramid on 09/02/2017 • ( 2 Comments )

Minister for the Ring of Border Steel, Mr Peter Dutton gives excellent “Serious Sam” as he makes it clear that Winston Churchill had nothing on him when it comes to resisting unapproved […]

MacroPru Crew:  The myth of Macroprudential

By The Glass Pyramid on 08/02/2017 • ( 3 Comments )

In recent years a number of enthusiastic groups, the “MacPru Crew”, have claimed that if only the RBA/APRA would fully embrace the doctrines of Macroprudential regulation, Australia could have a monetary policy […]

 RBA/APRA Watch – The curtain is slipping…..a bit

By The Glass Pyramid on 07/02/2017 • ( 4 Comments )

The first Tuesday of the month is the scheduled day for monetary policy twitchers to don their pin stripe camo and lurk expectantly on park benches in Upper Martin Place. Their presence […]

US-Australia FTA: Another “dud deal” done dirt cheap

By The Glass Pyramid on 02/02/2017 • ( Leave a comment )

Here is DFATs fact sheet on US-Australia trade that demonstrates the great “dudness” of the FTA deal with the US signed by Howard back in the early 2000’s. Click to access usa.pdf […]

Dick Smith: How to make buying Australian even easier

By The Glass Pyramid on 24/12/2016 • ( 6 Comments )

For many years Dick Smith and his team at Dick Smith Foods have worked hard to encourage more Australians to support local manufacturers and food producers. Putting together a range of products, […]

Tariffs? – Unproductive Capital Inflows: Destroying Aussie Jobs for decades

By The Glass Pyramid on 24/12/2016 • ( 21 Comments )

There has been a lot of talk recently about what the election of Donald Trump means for world trade. During the US presidential campaign, Donald Trump suggested the solution lay in the […]

The Australian “Neoliberal Consensus” collapsing in real time.

By The Glass Pyramid on 23/12/2016 • ( 1 Comment )

This morning the topic of revolution was in the air at macrobusiness. Not so sure we are about to get a revolution but one thing is clear the so called “neoliberal consensus” […]

RBA Watch:   Westpac says DONT cut teh rates! OMG

By The Glass Pyramid on 02/12/2016 • ( Leave a comment )

Bill Evans, long time RBA twitcher, is harbouring some doubts (click link) about the wisdom of the RBA Board cutting the target rate further next Tuesday. What’s up Bill? Why are you […]

Inflation alert! – Tassie Tiger sightings?

By The Glass Pyramid on 01/12/2016 • ( Leave a comment )

There are unconfirmed reports that ‘inflation’ has been sighted in the United States http://www.macrobusiness.com.au/2016/12/inflation-rising-us/ Inflation? What’s that? Come now, that has been cured. Everyone knows that provided you privatize the vast majority […]

ALP / Greens Watch: ‘Populist’ road kill or a real alternative?

By The Glass Pyramid on 27/11/2016 • ( 1 Comment )

At the end of a comment yesterday on Macrobusiness, PFH007 concluded with Wake up ALP Wake up Greens. One response was as follows ErmingtonPlumbing   November 26, 2016 at 6:51 pm Yes but […]

How might President Trump get the United States back to work ?

By The Glass Pyramid on 11/11/2016 • ( 1 Comment )

Keep in mind that deficits don’t matter – when you are a Republican. Democrats find it hard to complain about government spending and really hate doing the whole ‘austerity’ fan dance. So […]

Bank Watch:    Westpac raising the heat on non-resident /foreign Australian housing speculators?

By The Glass Pyramid on 10/11/2016 • ( Leave a comment )

So Westpac is going to charge non-resident borrowers a bit extra on their speculations in Australian property. The very idea that our local banks would be extending credit to non-residents to speculate […]

$AUD Watch – The rocket keeps rising and keeps burning off Australian jobs and industries.

By The Glass Pyramid on 09/11/2016 • ( Leave a comment )

The Australian Dollar keeps on rising and if it is not rising it remains far above what our trade performance warrants -floating on a torrent of unproductive and predatory capital inflows. Below is […]

SPC Ardmona – The Great Reverse Tariff Wall scores another scalp.

By The Glass Pyramid on 08/11/2016 • ( Leave a comment )

The news today is that Woolies is considering ending its agreement with SPC Ardmona for locally canned fruit. Understandably this has led to a fresh out break of the old debate – […]

Land Tax: The painless approach to introducing a land tax

By The Glass Pyramid on 07/11/2016 • ( Leave a comment )

Land Tax has become the new black with even the Treasurer talking about his enthusiasm for experimentation by other people (aka the state governments). However, shifting a state governments finances from the […]

RBA Watch: Time to talk about Central Bank independence.

By The Glass Pyramid on 07/11/2016 • ( Leave a comment )

Larry Summers has been talking about Central Bank independence, and it is certainly about time, but his proposals do not go far enough.   The issue should be included in the terms of […]

China Watch: The answers are in our grasp

By The Glass Pyramid on 04/11/2016 • ( Leave a comment )

What does the future hold for Australia was up for discussion on Macrobusiness this morning A Glass Pyramid operative left the following as a comment on that article. The tea leaves in […]

Reckless Economics – Baked fresh by Morrison, Taylor and Cormann

By The Glass Pyramid on 28/10/2016 • ( Leave a comment )

The following was a response to a comment at macrobusiness.com.au (click here) tonydd, Yes, that is the core of the problem. The LNP policy recipe is designed to concentrate wealth and the […]

Free Nation economics: Time for a change

By The Glass Pyramid on 01/10/2016 • ( 4 Comments )

Slowly but surely the penny is dropping right around the world.   The issues that caused the GFC have not been resolved, are not going away and are lurking in the corner […]

Killing Australian car manufacturing – dumb and dumber

By The Glass Pyramid on 27/09/2016 • ( 6 Comments )

Yep the closure of Australian Car Manufacturing says everything about the ignorance and stupidity of our politicians and many of our economic commentators. The Glass Pyramid doesn’t care whether we produce cars […]

Sick Australia – Trade deficits up, household and foreign debt up

By The Glass Pyramid on 06/07/2016 • ( Leave a comment )

Simply amazing what an inflated exchange rate will do ! Gutting export and import competing industries right across the nation. And there is unlikely to be any improvement on that front whilst […]

Auction Action: Big Bubbles? No trouble!

By The Glass Pyramid on 19/06/2016 • ( Leave a comment )

The management/Board of the RBA and APRA must truly be in PM Malcolm Turnbull and Mr Morrison’s good books at the moment. Governor Glen can expect a triumphant retirement full of flowery speeches […]

Auction Action is Back!

By The Glass Pyramid on 12/06/2016 • ( Leave a comment )

Auction Action is back! Apologies for the dead air but all Glass Pyramid operatives have been busy storing acorns for winter and throwing beer cans at the TV in unsuccessful attempts to scare […]

APRA Watch: APRA’s role is attracting more eyeballs

By The Glass Pyramid on 10/06/2016 • ( Leave a comment )

Macrobusiness turned a bright illuminating spotlight on APRA this morning in an article that raised a series of very important questions about the regulation of the Australian Banking and monetary system and […]

APRA Watch -The ultimate credit controller

By The Glass Pyramid on 09/06/2016 • ( Leave a comment )

The good thing about all this attention on APRA is that people are slowing starting to understand the significance of APRA as part of our regulatory framework. Having said that the discussion […]

APRA Watch: Big bubbles don’t come easy

By The Glass Pyramid on 08/06/2016 • ( Leave a comment )

  There is a lot of speculation at the moment about what is going on in the Australian credit creation industry and what exactly APRA is trying to achieve. There is a […]

Why the housing boom is ruining our economy and is ready to pop.

By The Glass Pyramid on 01/06/2016 • ( Leave a comment )

The RBA/ APRA strategy of filling the unexpected mining bust hole with low interest rate stimulated residential construction and the household debt that goes with it was always misconceived. Such a strategy […]

RBA Watch: Savers demand a seat at the RBA table

By The Glass Pyramid on 18/05/2016 • ( Leave a comment )

A story that appears in the AFR today and was noted by Macrobusiness concerns a call by Doug Turek, managing director of Professional Wealth, for more representation, on the Board of the RBA, […]

Deflating the Australian deflation pandemonium

By The Glass Pyramid on 12/05/2016 • ( Leave a comment )

You might have thought we had more than enough”scare campaigns” this election festival what with Malcolm and Morrison prowling the streets of our cities spinning yarns of doom, gloom and desperation if the […]

Auction Action: Election Time – RBA supplies the bubbles?

By The Glass Pyramid on 08/05/2016 • ( Leave a comment )

On Tuesday night Mr Scott Morrison held his 2016  “Hot Autumn Nights” Budget party. While guests were not required to bring presents, it appears that the message did not get through to […]

RBA Watch: Will new RBA Gov. Mr Lowe make a difference?

By The Glass Pyramid on 06/05/2016 • ( 3 Comments )

Probably not. Here is a box of old speeches by Mr Lowe for Central Bank “twitchers” to peruse between now and September 2016 when Mr Lowe’s appointment as RBA Governor commences. http://www.rba.gov.au/speeches/list.html#lowe The […]

Auction Action: Attack of the babies!

By The Glass Pyramid on 01/05/2016 • ( Leave a comment )

A big baby Saturday in Sydney yesterday. If Sydney first home owners were disgruntled about a  phalanx of grey beard speculators out bidding them at auctions, they are now petrified by a new […]

Oz Sell-Out Watch: Mr Morrison gets something right!

By The Glass Pyramid on 30/04/2016 • ( Leave a comment )

A gold star has been licked by Head of Research and is ready for application to the broad Morrison forehead when he next pays a visit to the Glass Pyramid Turkish Bath complex. […]

RBA Watch: We think we broke it! (and negative gearing)

By The Glass Pyramid on 28/04/2016 • ( Leave a comment )

Today David Uren noted the comments made by the Governor of the RBA in New York last week that it was time for governments to do more as monetary policy (cutting interest […]

Baby Watch: Infant landlord class pampered!

By The Glass Pyramid on 27/04/2016 • ( Leave a comment )

Caroline Overington put the Prime Minister over her lap this morning and gave him a good smack for his absurd endorsement of a new class of negatively geared landlords – the infant […]

Malcolm forgets Menzies concept of home.

By The Glass Pyramid on 25/04/2016 • ( 2 Comments )

Sunday was a beautiful day in Sydney and a splendid opportunity for Prime Minister Malcolm Turnbull and Treasurer Mr Scott Morrison to bond with local member Mr David Coleman and explain to a […]

Auction Action: Under pressure but holding the line

By The Glass Pyramid on 24/04/2016 • ( Leave a comment )

Another weekend with less than 500 auctions scheduled in Sydney, but as it is the last weekend of school holidays and a long weekend, ‘seasonal’ excuses are readily available for those who […]

Perth shows the way to “affordable housing”

By The Glass Pyramid on 19/04/2016 • ( Leave a comment )

Perth’s vacancy rate of 4.1% and Darwin’s vacancy rate of 3.6% – with both cities experiencing falling rents for houses and apartments – demonstrate just how important a healthy vacancy rate is to ensure […]

Auction Action: Sydney feeling stress?

By The Glass Pyramid on 17/04/2016 • ( Leave a comment )

Very few things in this wild woolly world upset Sydney folk. From a few weeks from the crib, Sydneysiders are trained to cope with life’s outrages in a calm and measured manner. Children […]

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