They Have It Completely Backwards
That is our own conclusion this week, not a quote. This week: why government deficits, not private speculation, are the growth lever getting blamed for the wrong reasons, and the one heuristic that actually explains every property price move.
TLDR: This Week's Focus
Every growing economy needs more debt somewhere in the system, either from private borrowing or a bigger government deficit. The US budget deficit is growing and the US economy is running at roughly 2.75% real growth. That is not a coincidence.
Why Australia's declining mortgage borrowing and a shrinking government deficit both point to slower growth ahead, a Black Swan warning from Nassim Taleb's own business partner, the one heuristic that actually explains property prices and who really absorbs the losses when prices fall, and a revisit of gold and silver after a substantial pullback since January.
What Kind of Investor Are You?
Ten minutes, free forever. Our investor personality assessment shows you your archetype, your strengths, and the blind spots that cost you money.
Take the Investor Personality TestThe full weekly issue, monthly live coaching calls with Steve, Tom and Jacob, the TMM Learning Hub, the members video and every show notes document. The average financial adviser charges around $7,000 a year. This is $9.99 a week, and you keep the knowledge forever.
Join the CommunityP.S. Credit availability, not sentiment, is what actually moves property prices, and the same discipline applies to your portfolio. Members get the full playbook every week, before it shows up in headlines.
This newsletter is for informational purposes only and does not constitute financial advice.
Total Money Management | AFSL 568642
