RE: Australia Housing Market Bubble
Thank you for your post, highly appreciated.
I am looking to form an automation and equipment company in Perth. I have the possibility to buy a good running small little tool manufacturing company (can quickly expand the product range with automation), it has been running 20 years and has sustainable income with excellent goodwill (e.g. GE etc.), however the banks here have no clue and I cannot submit to their terms. For instance, they will finance the purchase (AUD K600,--) if I leave a cash (idiots!!!) security of 600K on one of their accounts.
When I ask if I can leave the security in the form of Berkshire Hathaway stock, they say no. Stupid idiots! Every Australian bank is currently paying higher dividends than their earnings, Ponzi-Scheme! I am looking for serious investors, can issue shares via Ethereum technology if wished. Single investor not desired, must be atleast 2 parties. But, so much to the issue of innovation and technology. Nobody really wants to invest in it. And, Australia needs to go into that direction ASAP, in Europe most raw materials are already being recycled. Australia cannot think it can continously survive without high-tech processing depth related to the raw materials it has.
Wow, I can only imagine your frustration. I moved here 3 years ago and was quite shocked when I learned that Australia was not a leader in solar energy technologies. China's commodity bonanza has been both a positive and a negative to the Australia economy, it is unfortunate that more of that boom money was not invested into other areas of the economy. Canada has experienced a similar scenario with the oil boom of the early 2010 but there has been recent interest in investing in IT, technology and quantum computing.
I wish you the best of luck mate, take care.