Financial Armageddon (148)
curly28: What is that iddy biddy cute little animal in your profile picture.
Its a PIG
curly28: What is that iddy biddy cute little animal in your profile picture.
haha...go on curly, click on it and find out...it won't bite. Promise
tonyxf: Its a PIG
wrong....hmmm, maybe I should delete the caption and we could have a CS competition...
revealer24: I have seen something in the news that super funds averaged about 1%/year over the last 10 years. I have had my little super in cash equivalents for a few years, so there was a modest gain.
Aussies are being so riped off by the banks, it is criminal.
I had exactly the same investments in non super fund, and a super fund. The non super fund had a net retuern of 38%. The super fund had a net return of - 1.5%... same investments... But in the super fund the bank could keep all the increases, and nicked fees, nicked everything that they were legally allowed to by pollies... the real source of the problem...
Martia: Rev ...being you are into religion a bit can you tell me why so many people who have turned to god are so damn angry all the time.
I imagine Calm, Serene and Happy.
I imagine Calm, Serene and Happy.
I have been to many evangelical churches, the people there are pretty happy. Of course, there are the fundamentalists who damn the whole world to hell and think they are the only ones.
There is a joke, that a guy dies and goes to heaven, and St Peter shows him the various places. They get to a large room full of quiet, solemn people.
"Who are these?", he asks.
"The Catholics", says Peter.
So they go from room to room full of quiet and solemn people, and they all belong to a particular faith. Then when they get near the last room full of cheerful and celebrating people, Peter says,
"Shhhh!!! Quiet!"
"Why? Who are these?", asks the man.
"The Fundamentalists. They think they are the only ones here."
venere08: I do recall you posting about major financial woes to come. A couple of others locally told me much the same late last year. Without going into details, certainly in SA, it has arrived with a vengeance, all the while of-course, the veneer of affluence, masked by the Christmas media lunacy.
Now that the Federal Reserve swapped dollar for euro the markets are all happy and have rallied for the last few days. However, the problem is too much debt. You cannot solve this with introducing more debt. To get out of this mess debt must deflate first. This will happen through bankruptcies and great depression II.
Arkayos: Aussies are being so riped off by the banks, it is criminal.
I had exactly the same investments in non super fund, and a super fund. The non super fund had a net retuern of 38%. The super fund had a net return of - 1.5%... same investments... But in the super fund the bank could keep all the increases, and nicked fees, nicked everything that they were legally allowed to by pollies... the real source of the problem...
I had exactly the same investments in non super fund, and a super fund. The non super fund had a net retuern of 38%. The super fund had a net return of - 1.5%... same investments... But in the super fund the bank could keep all the increases, and nicked fees, nicked everything that they were legally allowed to by pollies... the real source of the problem...
We are being ripped off in every possible way. The same stuff cost 30-40% more, or even more here than in the US or Canada. For example I can get a bottle of flax seed oil from the US for $12 including postage (if I order a few to minimise the postage), but the same quantity costs $30 here. Delivery costs cannot be the excuse for the hilarious price hike, neither the labour cost.
Once the GFC was thought to be over there were articles in the paper stating how great it was that we pay such high bank fees, for they saved out bank system. What a load of rubbish! The banking system was about to collapse when the US Federal Reserve secretly bought all their toxic debt. Not only theirs, but those of all major banks around the world. These transactions were worth $14 trillion and neither the congress, nor the american public knew about it.
Arkayos: Aussies are being so riped off by the banks, it is criminal.
I had exactly the same investments in non super fund, and a super fund. The non super fund had a net retuern of 38%. The super fund had a net return of - 1.5%... same investments... But in the super fund the bank could keep all the increases, and nicked fees, nicked everything that they were legally allowed to by pollies... the real source of the problem...
I had exactly the same investments in non super fund, and a super fund. The non super fund had a net retuern of 38%. The super fund had a net return of - 1.5%... same investments... But in the super fund the bank could keep all the increases, and nicked fees, nicked everything that they were legally allowed to by pollies... the real source of the problem...
After the 2009 lows Westpac carved up most of the mortgage market. They will be the most vulnerable bank in the coming downturn. They are facing huge losses with real estate prices falling.
revealer24: I have been to many evangelical churches, the people there are pretty happy. Of course, there are the fundamentalists who damn the whole world to hell and think they are the only ones.
There is a joke, that a guy dies and goes to heaven, and St Peter shows him the various places. They get to a large room full of quiet, solemn people.
"Who are these?", he asks.
"The Catholics", says Peter.
So they go from room to room full of quiet and solemn people, and they all belong to a particular faith. Then when they get near the last room full of cheerful and celebrating people, Peter says,
"Shhhh!!! Quiet!"
"Why? Who are these?", asks the man.
"The Fundamentalists. They think they are the only ones here."
There is a joke, that a guy dies and goes to heaven, and St Peter shows him the various places. They get to a large room full of quiet, solemn people.
"Who are these?", he asks.
"The Catholics", says Peter.
So they go from room to room full of quiet and solemn people, and they all belong to a particular faith. Then when they get near the last room full of cheerful and celebrating people, Peter says,
"Shhhh!!! Quiet!"
"Why? Who are these?", asks the man.
"The Fundamentalists. They think they are the only ones here."
The good thing about being Agnostic is I don't believe in God But....a lovely thought,and of course I respect other peoples beliefs as Jehovah's witnesses should respect mine.
Ambrose Evans-Pritchard (an effette arrogant snob - but also a gifted economist) does economic analysis for the UK's Telegraph. He is forcasting the colapse of the Eurozone, and the Euro...
This is going to hurt... Europe is China's largest market now... So yes, this will hurt us...
Paul Krugman (another Keynesian) is a noble winning economist that does economic analysis for the New York Times, who agrees with AEP.
Ya gotta love Keynesians...
This is going to hurt... Europe is China's largest market now... So yes, this will hurt us...
Ambrose Evans-Pritchard: The Germans too are victims of this ruinous project, the greatest victims of all. Their elites have led them into a diplomatic and economic Stalingrad.
Paul Krugman (another Keynesian) is a noble winning economist that does economic analysis for the New York Times, who agrees with AEP.
Krugman: How did things go so wrong? The answer you hear all the time is that the euro crisis was caused by fiscal irresponsibility. Turn on your TV and you’re very likely to find some pundit declaring that if America doesn’t slash spending we’ll end up like Greece. Greeeeeece!
But the truth is nearly the opposite. Although Europe’s leaders continue to insist that the problem is too much spending in debtor nations, the real problem is too little spending in Europe as a whole. And their efforts to fix matters by demanding ever harsher austerity have played a major role in making the situation worse.
But the truth is nearly the opposite. Although Europe’s leaders continue to insist that the problem is too much spending in debtor nations, the real problem is too little spending in Europe as a whole. And their efforts to fix matters by demanding ever harsher austerity have played a major role in making the situation worse.
Ya gotta love Keynesians...
Martia: The good thing about being Agnostic is I don't believe in God But....a lovely thought,and of course I respect other peoples beliefs as Jehovah's witnesses should respect mine.
I am not sure what Jehovah's Witnesses do as I am not one of them :-)
Arkayos: Ambrose Evans-Pritchard (an effette arrogant snob - but also a gifted economist) does economic analysis for the UK's Telegraph. He is forcasting the colapse of the Eurozone, and the Euro...
This is going to hurt... Europe is China's largest market now... So yes, this will hurt us...
Paul Krugman (another Keynesian) is a noble winning economist that does economic analysis for the New York Times, who agrees with AEP.
Ya gotta love Keynesians...
This is going to hurt... Europe is China's largest market now... So yes, this will hurt us...
Paul Krugman (another Keynesian) is a noble winning economist that does economic analysis for the New York Times, who agrees with AEP.
Ya gotta love Keynesians...
I read Pritchard's articles, he is very smart. On the other hand EWI (http://www.elliottwave.com) believes the drive behind the economy (and politics, history, popular music) is social mood. It is social mood that causes people to go deep into debt and then to cut back on spending. They developed a science they call socionomics (http://socionomics.com) and by employing it they predict how social mood affects events. Of course, nothing is perfect, so they don't always get it right. For example, they expected the current downturn last year. But they were only wrong about the timing.
Regarding the Union, here is an interesting video:
And interesting article from them on the decline of democracy:
revealer24: I am not sure what Jehovah's Witnesses do as I am not one of them :-)
JW's are just one of the Fundamentalist Christians who are an armagedon cult....
They will be rubbing their hands together in glee, expecting the end of this world is just around the corner with the colapse of banks over the world...
Party time...
revealer24: And interesting article from them on the decline of democracy:
interesting article. but democracy doesn't exist - at best we have only ever had a representative republic...
And your previous comment makes sense if Keynes was right. He basically said if most of the people have money - they spend it...
But if only a few people have most of the money... They hoard it. In the US 1% of the population have more than 80% of the wealth...
The revolution is coming... but perhaps not the apocalypse...
revealer24: Now that the Federal Reserve swapped dollar for euro the markets are all happy and have rallied for the last few days. However, the problem is too much debt. You cannot solve this with introducing more debt. To get out of this mess debt must deflate first. This will happen through bankruptcies and great depression II.
Balance seeks to be restored one way or another. I know where I want to be, and it's not here...quite happy to hide away in my chosen part of the world. I don't need much.
Arkayos: interesting article. but democracy doesn't exist - at best we have only ever had a representative republic...
And your previous comment makes sense if Keynes was right. He basically said if most of the people have money - they spend it...
But if only a few people have most of the money... They hoard it. In the US 1% of the population have more than 80% of the wealth...
The revolution is coming...
but perhaps not the apocalypse...
And your previous comment makes sense if Keynes was right. He basically said if most of the people have money - they spend it...
But if only a few people have most of the money... They hoard it. In the US 1% of the population have more than 80% of the wealth...
The revolution is coming...
but perhaps not the apocalypse...
Okay Arkie, it seems that you are more in the area of an economist. Always loved the Keynes arguements. Doesn't matter which way finances are going, there is always a valid reason why we are making/losing money.
Simple fact is that we need Aust businesses to survive. Current Govt policy is to get what ever is cheapest no matter where the market is and who gives a rat's ars if it comes from overseas and we lose a couple of our businesses. We can always keep selling our resources (at a price or plus Carbon or Mining Tax)
wash2u: Okay Arkie, it seems that you are more in the area of an economist. Always loved the Keynes arguements. Doesn't matter which way finances are going, there is always a valid reason why we are making/losing money.
Simple fact is that we need Aust businesses to survive. Current Govt policy is to get what ever is cheapest no matter where the market is and who gives a rat's ars if it comes from overseas and we lose a couple of our businesses. We can always keep selling our resources (at a price or plus Carbon or Mining Tax)
Simple fact is that we need Aust businesses to survive. Current Govt policy is to get what ever is cheapest no matter where the market is and who gives a rat's ars if it comes from overseas and we lose a couple of our businesses. We can always keep selling our resources (at a price or plus Carbon or Mining Tax)
Hey Washo... i have a uni degree in economics
, and I used to be into reaganomics, but I became a Keynesian... it makes more sense...The "People" (bless our black little hearts) the 99%, drive the economy, not business. Without a consumer, there is no market. Without a market there is no business.
People have to feel safe, and happy - or they don't spend. Not to mention the fact people actually need to have credit, or disposable income, before they can spend... Kruddy had it exactly right in 2008 when he gave us all money...
Socialism works...
Arkayos: Hey Washo... i have a uni degree in economics , and I used to be into reaganomics, but I became a Keynesian... it makes more sense...
The "People" (bless our black little hearts) the 99%, drive the economy, not business. Without a consumer, there is no market. Without a market there is no business.
People have to feel safe, and happy - or they don't spend. Not to mention the fact people actually need to have credit, or disposable income, before they can spend... Kruddy had it exactly right in 2008 when he gave us all money..
Socialism works...
The "People" (bless our black little hearts) the 99%, drive the economy, not business. Without a consumer, there is no market. Without a market there is no business.
People have to feel safe, and happy - or they don't spend. Not to mention the fact people actually need to have credit, or disposable income, before they can spend... Kruddy had it exactly right in 2008 when he gave us all money..
Socialism works...
that sound well and good until you factor in China has been flooding the market with free goods, errr, (mentioned a second time)i've (usually $1500.00 + item) purchased new Chinese 62cc chain-saws delivered to my door for AU$129.00 each. The without counting manufacturing costs, the saws were shipped across the glob from China by an exporter, then marketed for a profit online by the seller, posted with the usual Australia Post rate and delivered to my PO Box in Victoria.
The way to stuff capitalism is give goods away and that is exactly what the Chinese have been doing
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What is that iddy biddy cute little animal in your profile picture.