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Australia Cracks Down On Foreign Real Estate Buyers As "Ghost Towers" Increasingly Outrage Locals

September 23, 2017 - 11:25am
Australia Cracks Down On Foreign Real Estate Buyers As "Ghost Towers" Increasingly Outrage Locals

As we've discussed frequently over the past several years, home prices in some of Australia's largest markets have gone completely vertical since 2013 as wealthy Chinese buyers have increasingly sought safe havens outside of the mainland to launder invest their cash.  Per the chart below, home prices in Melbourne have more than tripled since 2002 and Sydney is almost as bad.

Illinois' Kamikaze Bondholders Cheer Massive New $6 Billion Bond Deal: "It Has Turnaround Potential"

September 23, 2017 - 9:45am
Illinois' Kamikaze Bondholders Cheer Massive New $6 Billion Bond Deal: "It Has Turnaround Potential"

Just two days ago we wrote about how, despite a budget deal signed back in July that called for a massive tax hike, Illinois' unpaid payables balance had ballooned to a new all-time record high of $16,046,145,423.20 according the comptroller's office (see: Illinois Unpaid Vendor Backlog Hits A New Record At Over $16 Billion). 

...which was a 3-fold increase over the past two years.

Porsche And Mercedes Plot Musk Offensive With "Anything Tesla Can Do, We Can Do Better" Strategy

September 23, 2017 - 7:20am
Porsche And Mercedes Plot Musk Offensive With "Anything Tesla Can Do, We Can Do Better" Strategy

Tesla you have a problem, well several actually.
But, before we get into all the competition that is about to flood your market, lets take a look at some basic math surrounding your valuation.  Ford currently generates roughly $1,800 of EBITDA per vehicle and trades at a total enterprise value of $35 billion, roughly 3x their median EBITDA forecast for 2017.

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