Re: Dream on...
> The RBA has cut interest rates 4 times in the last 12 months.
Aha, the Keynesian Witch Doctors are out, frantically applying leeches and prescribing mercury concoctions. I hope they are at least beating drums.
And, guess what:
Skyscraper Index fingers Melbourne
The Skyscraper Index is a concept put forward in January 1999 by Andrew Lawrence, research director at Dresdner Kleinwort Wasserstein, which showed that the world’s tallest buildingshave risen on the eve of economic downturns. Business cycles and skyscraper construction correlate in such a way that investment in skyscrapers peaks when cyclical growth is exhausted and the economy is ready for recession. Mark Thornton’s Skyscraper Index Model successfully sent a signal of the Late-2000s financial crisis at the beginning of August 2007.
The Victorian Government has given the go-ahead for plans for the tallest building in the southern hemisphere.
The 388-metre high, 108-storey hotel and apartment building is planned for Melbourne’s Southbank area.
Melbourne City Council had opposed the project due to fears it would cast a shadow over the Shrine of Remembrance.
But the Planning Minister, Matthew Guy, says most of council’s concerns have been addressed and the shrine trustees support the project.
Yup, the Big One's coming all right.