

The Mandalorian of Currency
24 snips May 21, 2025
This week, Stephen Mayne, a keen shareholder activist and founder of Crikey, joins the discussion. They dive into Moody's downgrade of the US credit rating and its potential impacts. The conversation touches on Australia's political landscape, including the Liberal-National split. They tackle the complexities of the housing market, the concept of a universal currency, and the implications of introducing a wealth tax on unrealized gains. Their insights reveal the delicate balance between taxation, housing affordability, and the future of Australia’s financial policies.
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Kevin McCann's Political Near-Miss
- Kevin McCann once stood against Tony Abbott in a 1994 pre-selection battle.
- Had he won, Australia's political landscape might have been vastly different without Abbott's tenure.
US Downgrade Meets Market Apathy
- The US credit rating downgrade barely rattled the markets this time around.
- Markets now treat such downgrades as routine rather than crisis events.
Credit Rating Agency Conflicts
- Credit rating agencies are private companies, often too spooked to downgrade major borrowers like the US severely.
- This creates a conflict where ratings can be overly lenient due to political pressure.