Debt Rattle May 19 2017


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    Jean-Michel Basquiat Untitled 1982   • Swedish Prosecutors Drop Julian Assange Rape Investigation (AP/R.) • Australia Economy Among ‘Walking Dead
    [See the full post at: Debt Rattle May 19 2017]

    V. Arnold

    At a luncheon get together (here in Thailand), I met an Aussie guy (turns out he was very rich) married to a friend of my wife’s.
    It didn’t take long, after he found out I’m a Usian, to remark what a racist past the U.S. had.
    I wish I could tell you I raked him over the coals for his bullshit comment; but I was thunderstruck by that coming from an Aussie and had no reply…
    We’ve been invited to other get togethers with him and have passed every time; what a complete jackass!
    As Einstein posited; the only thing more infinite than the universe are human’s stupidity (or was that ignorance)…

    Ken Barrows

    Life isn’t too bad for some. Today’s painting just sold for $110.5 million


    “Australia Economy Among ‘Walking Dead Of Household Debt’ – Steve Keen”

    We are fortunate to be able to rent in a desirable part of Melbourne. We certainly cannot afford to buy. At present, the house prices in our area are rising annually by 3 times the rent we are paying.

    On one side, we have a vacant house – the lights keep on coming on or off at night to suggest that there is someone living there. A gardener comes to tidy up their plants regularly. On the other side is a huge empty house – twice the area of ours – which until recently was occupied by a lady living alone – perhaps the owner. Anyway, she is no longer there and the house is now also empty.

    Here is the view from upstairs – the picture was taken last week and it is quite cloudy now:

    I think you can now see how wasteful the way the tax system is set up. Melbourne has massive almost unlivable suburbs – which is where most young people and immigrants end up. Here is a typical suburb:

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