About

This is my search for answers and sound economics. This search came about mostly because of the 10+ year property boom in Australia and my refusal to buy a house at crazy prices. I wanted to understand what was going wrong with the economy. I found the Money as Debt video (which now I can see problems with) but quickly found The Money Masters which a somewhat better introduction to how money works in the modern economy. Finally I found “Money, Banking and the Federal Reserve” produced by the Mises Institute:

At around the same time became aware of Ron Paul because he was running president in the USA. This began my interest in Libertarianism. Since then, I’ve also enjoyed LewRockwell.com and the Lew Rockwell Show which has introduced the idea of anarcho-capitalism. These are enticing ideas. I’m currently reading Ayn Rand’s The Fountainhead and Atlas Shrugged and a slew of books from the Mises Institute.

I like people to be clear about their bias, their conflicts of interest or “vested interest”. I am bashing this out quickly but here it goes, this is my “disclosure”:

  • I have been a consistent saver since the late 90s.
  • I’ve never owned property in Australia or abroad
  • In part, I went to the UK in 2005 to help reduce the psychological pressure to buy a house here in Australia and in part to make the best of the boom in IT contracting in the UK (in case I was wrong about the eventual direction of house prices).
  • I have invested in shares and managed funds (mutual funds) during the recent boom 2003-2007. Started in 2004 and got out early in 2007. I used the “trend trading” approach of Colin Nicolson.
  • Even though I’d exited the share market in early 2007, I’d forgotten about my superannuation. I finally switched to Fixed Interested in early 2008 and then, realising that Fixed Interest could include risky bonds, I moved it into Cash.

I’ll update this as necessary. Ask if you have any questions. Feel free to contact me via email.

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Responses

  1. I guess one of the downsides to switching super to cash is that you aren’t contributing (buying) at the lower unit prices that now exist.

  2. Hey Steve,

    I just posted on Washington’s (drwasho – http://drwasho.wordpress.com) blog about an idea to consolidate on one website as it seems we’re quite possibly the only Australian Austrian economists (Gerard Jackson over at brookesnews.com describes himself as “Australia’s only Austrian economist”, although he has been labeled a neo-con due to his support for the war).

    As you know I set up aussienomics.com (also own the .com.au version which I’ll redirect soon) to blog about Australian economic issues from an Austrian perspective, something you guys both appear to be doing as well. Would it make more sense for us all to be blogging on the same website, rather than three separate blogs? Thoughts?

    It just seems to me that Australia has a serious lack of Austrian insight, as is evident by the amazing popularity Steven Keen has received lately despite his incorrect — albeit not as “incorrect” as the mainstream — ideas and remedies.

    I’m open to any suggestions and ideas.

    Cheers,

    Justin


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