Is marrying your housemate the way to survive uni? That’s the question Farrah Tomazin puts forward in today’s blockbuster edition of the Age as she discusses recomendations for higher Austudy payments. This will see a short term benefit for students being able to afford more food. However, those versed in economics will understand that in the near future landlords will … Read More
Recessionary forces building fast – $5K US homes
A home bought for $110,000 in Flint, Michigan (2005) was recently foreclosed and can’t be sold for even $5,000. In an ominous sign of financial troubles; Fannie Mae acquired twice as many homes through foreclosure in the first quarter as it sold, regulatory filings show. The oversupply of homes is now coming home to hurt the US and increasingly the … Read More
The Subprime Primer – Stickman style
With more banks reporting massive write downs this week (Bank of America reported a 41% drop in quarterly earnings), we thought it timely to publish this funny take on how the subprime banking model was supposed to work. Flick through this humorous powerpoint, complete with lively stickman descriptions on how this financial quagmire makes sense/ cents for some. Please Note: … Read More
The True Cost of Food
A kilogram of beef contains between 15,000 and 100,000 litres of embodied water. For every kilogram of wheat grown in Australia, seven kilograms of topsoil are lost. We give lip service to concerns about peak oil and greenhouse gases, yet our agricultural industry is utterly dependent on unsustainable quantities of polluting petrochemicals. There’s no reason why this insanity can’t be … Read More
Recession-Plagued Nation Demands New Bubble To Invest In
The Onion’s satire is often needed in times like these! The current economic woes, brought on by the collapse of the so-called “housing bubble,” are considered the worst to hit investors since the equally untenable dot-com bubble burst in 2001. According to investment experts, now that the option of making millions of dollars in a short time with imaginary profits … Read More