Australia

Submitted by Guy Manno via Crush the Market

The Aussie apartment boom that has turned into an epic bubble with record, sky-high prices, is showing all the signs for the perfect storm which will ultimately pop. With the popping of the apartment boom, it will simultaneously bring down the Australian economy, as the apartment market is set to have a sizeable correction in 2017 and 2018.

A short Look At Australia's Real Estate Market

By Chris at www.CapitalistExploits.at

My little girl came into my office the other day and was looking over my shoulder. Suddenly she ran out of the room calling to her brother. “I know Dad’s password! I know Dad’s password!”, she yelled. “What is it?”, my son asked? “It’s 8 stars.”

Sometimes we look at things believing with sincerity we know and understand what we’re seeing. But we’re really as dumb as a box of rocks.

It has been more of the same overnight, as global stocks piggybacked on the strong US close and rose despite the lack of good (or bad) macro news, propelled higher by the two usual suspects: a higher USDJPY and a even higher oil, if mostly early on in the trading session.

Yes, the oil squeeze higher continues, and as the charts below courtesy of Andy Critchlow show, Brent is now 82% higher in the past 82 days...

... while crude has had its strongest rally since 2010.

A  river near a fracking site in Queensland, Australia exploded into flames after a coal seam gas (CSP) protester sparked a kitchen lighter above the water surface. Footage uploaded by Greens MP Jeremy Buckingham shows huge flames erupting from methane gas bubbling to the surface of the Condamine River. He shared the video on his website and social media accounts to highlight his party’s concerns about fracking and the extraction of coal seam gas.

Submitted by Pater Tenebrarum via Acting-Man.com,

Mr. X and his Mysterious Benefactors

As the Australian Broadcasting Corporation (ABC) reports, a money-laundering alarm was triggered at AmBank in Malaysia, a bank part-owned by one of Australia’s “big four” banks, ANZ. What had triggered the alarm? Money had poured into the personal account of one of the bank’s customers, a certain Mr. X, in truly staggering amounts.

A recent photograph of Mr. X.