David R. Gallagher

Financial Economist; former UNSW Professor etc; Cricket fever 🏏; ALL views mine.

[David R. Gallagher @daveysaid]

Some sectors of the economy should not be available to investors as ‘asset classes’ or be for-profit industries. These include residential housing, education, and aged care.

[Prof. Steve Keen @ProfSteveKeen]

Australia’s housing obsession is one of its greatest weaknesses.

Rising house prices are not a sign of prosperity.

What they actually tell you is that more money is being borrowed from the banking sector to buy homes.

The cause of rising house prices is rising household debt, and that is unproductive.

House prices are now five times more expensive than consumer goods compared to 1970. We should never have allowed that to happen.

Housing should not be an asset.

It is not something you should profit out of. It is something you should live in.

The people who really benefit from rising house prices are real estate agents and property developers, not the families who live in them.

We are paupers living inside castles. Paying a fortune on the mortgage, a fortune on private schools, and out of the remainder, just trying to live.

For the more information, check out the comment section,

#SteveKeen #AustraliaProperty #HousingCrisis #MortgageDebt #Economics #HousingAffordability

[David R. Gallagher @daveysaid]

@chrisbrycki Mine isn’t on the website yet either. They will get around to it in time.

[David R. Gallagher @daveysaid]

@cmkusher M3 money printer goes into overdrive

[David R. Gallagher @daveysaid]

@DaveTaylorNews An understatement

[David R. Gallagher @daveysaid]

@DaveTaylorNews Mediocrity indeed!

[David R. Gallagher @daveysaid]

@DrCameronMurray There’s a recent study published in Economic Record that covers the topic of economics students (late 2025 or early 2026)

[David R. Gallagher @daveysaid]

@GeoffWilsonWAM Exactly. They’re scared! I didn’t see either on any media channel yesterday! We are governed by fools at present

[David R. Gallagher @daveysaid]

Agree. T20 cricket is akin to selling ‘snake oil’ products. Or Bitcoin in today’s world.

[Troll cricket unlimitedd @TUnlimitedd]

Reporter: Michael, Why don't you commentate in the IPL?
Michael Holding: "I ONLY COMMENTATE ON CRICKET. IPL IS NOT CRICKET.
I don't watch t20 cricket. Not even one ball. T20 will destroy the game I love. It is dumbing down cricket. They should find another name for it."
This statement was made by the legendary Michael Holding 5 years back. 5 years later, he has been proven right. The man is a visionary indeed.

[David R. Gallagher @daveysaid]

Agreed. But we do need an election fought on genuine tax reform for the 21st Century that is fit for the digital age. For example, AI and robotics will increasing distort the existing revenue schemes generated by the Commonwealth, especially over the next 15 years. Any new tax system needs to ensure it is simple to understand and comply with, enhances incentives and productivity, and is equitable and egalitarian right across the generations of Australians. It should not need to be ‘tinkered’ with on an annual basis. It should be internationally competitive, as the globalised World will become ever increasingly competitive for capital, skilled labour, intellectual property, as well as the factors of production.

[David R. Gallagher @daveysaid]

@TFTC21 And tax free atm too

[David R. Gallagher @daveysaid]

@DallasAptGP Investment decisions should never be made for tax reasons alone. Simple reason is that the regulations can always be changed by governments, including them being made retrospectively.

[David R. Gallagher @daveysaid]

the tax grab budget, where voters didn’t get the opportunity to vote on the tax policies to be implemented in this budget, makes you wonder what the longer run plan is - tax free income in retirement phase surely has to be the next (future) broken tax promise? How can anyone have any certainty, in any stage of their life, about what fair and incentive-driven tax policies should be over one’s whole lifespan?

[David R. Gallagher @daveysaid]

@MikeCarlton01 If we didn’t have a preferential system, the result here wouldn’t look as competitive as it turned out to be

[David R. Gallagher @daveysaid]

@MurrayWatt Why would anyone take advice from this imbecile? It’s incredible that he’d even write it.

[David R. Gallagher @daveysaid]

@GeoffWilsonWAM Australia needs a ‘factory’ reset

[David R. Gallagher @daveysaid]

@KieBowman @ArchbishopSarah Evil is spreading across the UK at a very fast pace

[David R. Gallagher @daveysaid]

@GoshawkTrades It’s called a ‘competitive mindset’. They could even be Chess ♟️ players. Same idea.

[David R. Gallagher @daveysaid]

@DaveTaylorNews “But, this time it’s different” 😎

[David R. Gallagher @daveysaid]

@GeoffWilsonWAM Wondering if the Budget on Tuesday will have unrealised CGT embedded? That would be a shocker.