"And the turtles, of course, all the turtles are free as turtles and, maybe, all creatures should be"

Stuff I’ve done lately – February 7th

facebook (feed #3)
Richard Andy Kaufman ftw.
facebook (feed #3)
Richard Lost is back in 2 days :D .
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http://backupify.com is backing up my tweets. They support Flickr, Basecamp, Google Docs, and more. Free if you signup by Feb 15th [richei]
twitter (feed #4)
Kind of depressing weather in Sydney right now, isn’t it? Just cold enough for no sun, just warm enough that its not cosy. [richei]
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Richard OMG LOST.
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Richard is wondering why he’s the only one left with the old Facebook layout :( .
facebook (feed #3)
Richard List of things that have been censored in Australia the past few months: Everything R rated The internet Anonymous blog comments during elections A-cup breasts.
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Stuff I’ve done lately – January 31st

facebook (feed #3)
Richard Only 2096 days until Back to the Future 2.
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Richard would like to remind everybody that copyright piracy is not a crime. Most of the time it’s a civil matter.
twitter (feed #4)
Hey #kpcs @Jason loving the #kpcs. Is it related to #TWiST? (Kevin Pollaks Chat Show live › http://ustre.am/2NCK) [richei]
twitter (feed #4)
twitter (feed #4)
Very late night dinner. — at McDonald’s Five Dock http://gowal.la/s/3iYf [richei]
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I’m at Shell Five Dock in Sydney, New South Wales http://gowal.la/s/2Ckn [richei]
flickr (feed #8)
blog (feed #11)
twitter (feed #4)
I may have gotten carried away borrowing from the library. [pic] http://ff.im/-eUN5r [richei]
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Why Australia will have another recession. Soon. http://post.ly/LHRX [richei]
blog (feed #11)
facebook (feed #3)
Richard Why Australia will have another recession. Soon. http://post.ly/LHRX.
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Richard is clearly spoiled and can’t wait for his tapas dinner cooked by Angela Rassi :D .
blog (feed #11)
Published Mmmm tapas..
flickr (feed #8)
Shared Mmmm tapas..
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Mmmm tapas. [pic] http://ff.im/-f69p5 [richei]
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Mmmm tapas.

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Why Australia will have another recession. Soon.

I think its safe to say that economics is a zero sum game. It has to be. If we’ve learned anything over the past two years, it’s that money can’t be simply manipulated into existence. The best an economy can hope for is high consumer spending, industries that add significant value, and abundant natural resources. Accordingly, extravagant booms have to be met with depressing busts, and supply and demand realigned.

Unfortunately, the problem with the (ahem) experience of recession in Australia, is that it failed to readjust expectations in the real estate market. On the face of things, it seems that most of our job losses were limited to those in Generation Y (who are either just entering the workforce, or working part time during tertiary study), and the lesser skilled members of Generation X.

By comparison, the economic bull markets of the 90’s and 00’s perfectly positioned baby boomers to capitalise on cheap credit to purchase investment homes, and often, heavily leverage these investments. This heavy leveraging has pushed most other western economies into real estate (and financial) collapse.

However, when Australian baby boomers didn’t lose their jobs during the recession, their investment homes weren’t sold and the supply of available housing remained relatively stable (an effect encouraged by decreasing interest rates and high levels of real estate stamp duty).

Australia remains one of the most expensive countries in which to buy a home. I believe that we escaped only through a quirk of circumstance – and even then, only temporarily. In fact, I’ll call it now, Australia will have a second housing recession in the next 10 years – brought on by the retirement and inflated expectations of baby boomers.

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I may have gotten carried away borrowing from the library.

Sent from my iPhone

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Stuff I’ve done lately – January 24th

twitter (feed #4)
RT @YSass: Australia is fast becoming a nation of bubble-wrap. I wonder if they will quietly implement the national filter next. http:// … [richei]
digg (feed #6)
facebook (feed #3)
Richard thinks its a little chilly.
facebook (feed #3)
Richard is watching Mock Trial with J. Reinhold.
digg (feed #6)
twitter (feed #4)
The iPhone Inspired DIY Kitchen Touch Screen Project http://ff.im/-evRyV [richei]
facebook (feed #3)
Richard is lookin’ like a fool with his pants on the ground.
twitter (feed #4)
The Economics of Groundhog Day – D.W. MacKenzie http://post.ly/JPlm [richei]
blog (feed #11)
twitter (feed #4)
Google Books in Australia http://ff.im/-ewK9o [richei]
blog (feed #11)
Published Untitled.
flickr (feed #8)
Shared Untitled.
facebook (feed #3)
Richard would like to thank Angela Rassi for taking care of him while the asian woman took his blood from him :D .
twitter (feed #4)
Maybe, just maybe, you don’t have to start at the top. I hope. [richei]
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Din Tai Fung, NSW

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