Irrational Exuberance Down Under – Bloomberg View<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"From William Pesek: Lindsay David’s new book on Australia deserves a medical disclaimer: Reading this will greatly raise your blood pressure. In “Australia: Boom to Bust” David sounds the alarm about an Australian housing bubble he argues makes the 12th-biggest economy a giant Lehman Brothers. His thesis can be boiled down to the number 9 … <\/p>\n
Continue reading “Irrational Exuberance Down Under | Bloomberg View”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,10],"tags":[290,1736],"class_list":["post-10948","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-housing-economy","tag-australia","tag-housing-bubble"],"yoast_head":"\nIrrational Exuberance Down Under | Bloomberg View - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Irrational Exuberance Down Under | Bloomberg View - the patient investor\" \/>\n<meta property=\"og:description\" content=\"From William Pesek: Lindsay David’s new book on Australia deserves a medical disclaimer: Reading this will greatly raise your blood pressure. In “Australia: Boom to Bust” David sounds the alarm about an Australian housing bubble he argues makes the 12th-biggest economy a giant Lehman Brothers. His thesis can be boiled down to the number 9 … Continue reading "Irrational Exuberance Down Under | Bloomberg View"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2014-09-22T07:03:20+00:00\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Irrational Exuberance Down Under | Bloomberg View\",\"datePublished\":\"2014-09-22T07:03:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/\"},\"wordCount\":95,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"Australia\",\"housing bubble\"],\"articleSection\":[\"Australia & NZ\",\"Housing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/\",\"name\":\"Irrational Exuberance Down Under | Bloomberg View - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2014-09-22T07:03:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Irrational Exuberance Down Under | Bloomberg View\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thepatientinvestor.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\",\"name\":\"ColinTwiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"caption\":\"ColinTwiggs\"},\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Irrational Exuberance Down Under | Bloomberg View - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Irrational Exuberance Down Under | Bloomberg View - the patient investor","og_description":"From William Pesek: Lindsay David’s new book on Australia deserves a medical disclaimer: Reading this will greatly raise your blood pressure. In “Australia: Boom to Bust” David sounds the alarm about an Australian housing bubble he argues makes the 12th-biggest economy a giant Lehman Brothers. His thesis can be boiled down to the number 9 … Continue reading \"Irrational Exuberance Down Under | Bloomberg View\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2014-09-22T07:03:20+00:00","author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"Irrational Exuberance Down Under | Bloomberg View","datePublished":"2014-09-22T07:03:20+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/"},"wordCount":95,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"keywords":["Australia","housing bubble"],"articleSection":["Australia & NZ","Housing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/","name":"Irrational Exuberance Down Under | Bloomberg View - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"datePublished":"2014-09-22T07:03:20+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/22\/irrational-exuberance-down-under-bloomberg-view\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Irrational Exuberance Down Under | Bloomberg View"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5","name":"ColinTwiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","caption":"ColinTwiggs"},"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-2QA","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":26139,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/04\/debt-irrational-exuberance-disaster\/","url_meta":{"origin":10948,"position":0},"title":"Debt + irrational exuberance = danger","author":"Colin Twiggs","date":"June 4, 2021","format":false,"excerpt":"Three charts from Jesse Felder highlight the sharp rise in leverage, fueling the current stock bubble: 1) Margin debt. 2) Leveraged ETFs. 3) The net position of \u201cnon-reportable\u201d small speculators in S&P 500 futures contracts. The Put\/Call ratio is close to a record low, increasing the risk of a market\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Put\/Call Ratio","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-04-putcall.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":4853,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/14\/australia-and-the-endgame\/","url_meta":{"origin":10948,"position":1},"title":"Australia and the Endgame","author":"Colin Twiggs","date":"July 14, 2012","format":false,"excerpt":"John Mauldin: We wrote about Australia in a full chapter of Endgame. Their economy never really suffered in the recent debt crisis, in large part due to their growing housing market and their trade with China. If you talk to the average Aussie, they think that all is right with\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5855,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/28\/australia-household-debt-crisis\/","url_meta":{"origin":10948,"position":2},"title":"Australia: Household debt crisis","author":"Colin Twiggs","date":"October 28, 2012","format":false,"excerpt":"A few days ago I mentioned that Australia is in a housing bubble. The easiest way to gauge this is to compare Australian household debt\/disposable income (DPI) to the US peak before the global financial crisis. After all, household debt is the fuel for a housing bubble. Australia's current ratio\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19688,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/25\/irrational-exuberance\/","url_meta":{"origin":10948,"position":3},"title":"Irrational Exuberance","author":"Colin Twiggs","date":"January 25, 2020","format":false,"excerpt":"I believe this warrants a separate post: The market is running on more stimulants than a Russian weight-lifter. Unemployment is near record lows but the US Treasury is still running trillion dollar deficits. While the Fed is cutting interest rates. And again expanding its balance sheet. More than twelve years\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1531,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/24\/australia-how-the-cpi-hid-the-housing-bubble-on-line-opinion\/","url_meta":{"origin":10948,"position":4},"title":"Australia: How the CPI hid the housing bubble – On Line Opinion","author":"ColinTwiggs","date":"October 24, 2011","format":false,"excerpt":"We can combine the main areas where housing has been stricken from the CPI \u2013 the removal of mortgage costs, quality adjustments to rent, and reduction in weight to home ownership costs \u2013 to see what difference it would make had the pre-1998 methodology been continued. The resulting MacroStats cost-of-living\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14856,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/02\/21\/australia-canada-in-4-charts\/","url_meta":{"origin":10948,"position":5},"title":"Australia & Canada in 4 charts","author":"ColinTwiggs","date":"February 21, 2017","format":false,"excerpt":"RBA governor Phil Lowe recently made a speech comparing the experiences of Australia and Canada over the last decade. Both have undergone a resources and housing boom. Four charts highlight the differences and similarities between the two countries. Australia's spike in mining investment during the resources boom did serious damage\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/10948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=10948"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/10948\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=10948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=10948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=10948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}