For all my criticism of Martis I agree with his points about the bond market (helpfully supported by our cash desperate banks doing CRs) and gold. My bond trader friends have been dumbfounded for some time and I have been dumfounded as to why the price of a house in Sydney is where it is. I was talking to Hotfire this morning and said that for the price of his house today we could have bought his entire street 18 years ago and hence the ANZ's desperate need for cash. When housing pops here it will be talked about for hundreds of years.
For all my criticism of Martis I agree with his points about the...
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