Business

We keep returning to the subject of Australia and the growing signs that its bubble economy is bursting. Earlier this month, we discussed how the world’s longest-running bull market – 55 years – in Australian house prices appears to have come to an end. We followed this up with “Why Australia’s Economy Is A House Of Cards” in which Matt Barrie and Craig Tindale described how Australia’s three decades long economic expansion had mostly been the result of “dumb luck”.

As DataTrek's Nick Colas, formerly chief market strategist at Convergex Group, writes overnight, "we’re doing our best to make sure we don’t flood you with bitcoin/crypto information because there are plenty of other issues with broad appeal." However, he finds that hard to do when the topic dominates both financial news headlines and popular imagination... and when it goes from $11,000 to $8,900 in two hours.

To address some of the pent-up confusion, here are the three questions (and answers) Colas it getting most about bitcoin at the moment:

Authored by John Rubino via DollarCollapse.com,

A recurring pattern of the past few decades involves governments promising to limit their borrowing, only to discover that hardly anyone cares. So target dates slip, bonds are issued, and the debts keep rising.

Authored by Kevin Muir via The Macro Tourist blog,

I know everything is fan-freaking-tastic - with the tax reform bill and global synchronized expansion and all. I figure the last thing you need is some nattering naysayer throwing cold water on this unbelievable party, so I won’t. At least not for the short run.

Authored by Ryan McMaken via The Mises Institute,

The tax "reform" currently being discussed in Washington is mostly a political exercise for politicians who can use the process to extract more campaign contributions from supporters, and punish non-supporters. The actual tax burden imposed on Americans overall will change little.