The remaining bears are ranting raving abusive lunatics (Timo, MMM, Goldbug etc) or incessant whingers (Veritas, GenX and his socks etc).
None of them can put forward a cohesive argument for a crash. They just rant incoherently about 'The Ponzi' and 'The Bubble'.
They don't present any new arguments or data worth debating. It's just a rehash of the same arguments from a decade ago.
The bears lost, but the remaining bears here are too dumb to realise it, so they carry on with their same tired old rehashed arguments regardless.
Same goes for Macrobusiness... that whole site is filled with angry bears who have absolutely no clue. Fools like David Collyer and Gunnamatta who think they're smarter than the bulls despite getting it wrong for years. And they're led by the three stooges... David Llewellyn-Smith, Leith van Onselen, and Chris Becker... guys who have been wrong about house prices for so long that they should really be hanging their heads in shame rather than continuing to give out advice.
Oh dear. Things must be really bad in property world if Shadow's storming in like a bear with a sore head spewing impotent rage. He hasn't even got the bluster to post some of his laughable cherry picked charts.
Not all of us are here to play your pointless game of gold vs property one-upmanship, remember?
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
Oh dear. Things must be really bad in property world if Shadow's storming in like a bear with a sore head spewing impotent rage. He hasn't even got the bluster to post some of his laughable cherry picked charts.
Not all of us are here to play your pointless game of gold vs property one-upmanship, remember?
Another good example of what I was talking about regarding the quality of bear posts here lately. This is about as good as they get. That's why I haven't bothered posting much. There's nothing left to debate. The bulls already won, and the bears are left posting this sort of pointless nonsense.
Another good example of what I was talking about regarding the quality of bear posts here lately. This is about as good as they get. That's why I haven't bothered posting much. There's nothing left to debate. The bulls already won, and the bears are left posting this sort of pointless nonsense.
Won. The only thing that has not collapsed yet is house prices. But record low rates might help that,for now.
But you need to look at the longer term.
Jobs and buisinesses and indutries and wages are now collapsing in a way they never have before, as they are in all western economies, but you bulls think that is all part of the cycle.
Our wages are dropping for the first time in history. All part of the cycle too.
Our rents are dropping like they never have before,in all capital cities. Was that part of the cycle too.
Our youth unemployment is around 25%, this is our future, it is higher than US,euro or UK. But we dont need jobs in future to buy and rent houses, we just get it on credit and use all our pay to pay the interest, until we can't .
The fact is, things have not been this bad since the great depression, reflected clearly in Interest rates alone. Then wages falling and Industries collapsing. Compared to the current situation, the great depression debt levels and ways to move forward after look like a needle in a haystack, the great depression being the needle and the current situation being the haystack.
There are only a few dopes out there now claiming everything is running along smoothly as you do. Only an idiot would make such a statement, at least many bulls acknowledge we have major problems.
But I doubt it will take another 10,000 posts for you understand. Maybe another two or three thousand, knowing you.
Jobs and buisinesses and indutries and wages are now collapsing in a way they never have before, as they are in all western economies, but you bulls think that is all part of the cycle.
Our wages are dropping for the first time in history. All part of the cycle too.
Our rents are dropping like they never have before,in all capital cities. Was that part of the cycle too.
Our youth unemployment is around 25%, this is our future, it is higher than US,euro or UK. But we dont need jobs in future to buy and rent houses, we just get it on credit and use all our pay to pay the interest, until we can't .
The fact is, things have not been this bad since the great depression, reflected clearly in Interest rates alone. Then wages falling and Industries collapsing. Compared to the current situation, the great depression debt levels and ways to move forward after look like a needle in a haystack, the great depression being the needle and the current situation being the haystack.
If the economy is in such a dreadful mess, worst state since the great depression, YET HOUSE PRICES ARE STILL RISING, what do you reckon is gonna happen when the economy recovers??? I guess the bulls will move from just winning, to utterly annihilating the bears!!!
Another good example of what I was talking about regarding the quality of bear posts here lately. This is about as good as they get. That's why I haven't bothered posting much. There's nothing left to debate. The bulls already won, and the bears are left posting this sort of pointless nonsense.
Cool.
So i expect you will be hanging up your hat here and going out to buy some more investment properties?
The Bulls won after all; you cant lose!
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
If the economy is in such a dreadful mess, worst state since the great depression, YET HOUSE PRICES ARE STILL RISING, what do you reckon is gonna happen when the economy recovers??? I guess the bulls will move from just winning, to utterly annihilating the bears!!!
House prices are still rising in only Sydney and Melbourne and perhaps Brisbane too.
And you ask why, maybe because we have the lowest rates in history, have encouraged everything possible to pump this ponzi, from homes grants to double home grants, no stamp duty. when they died, it was foreign investors and then finally the most stupid of all measures , to encourage people to leverage their super funds into this ponzi. There ain't much left now.
So what are you saying here trojan, that the economy is not in a mess. Are you under the same delusion that everything is running smoothly.
And then your last joke, what do I think will happen when the economy inproves. It wont improve, its collapsing, just like all western economies who adopted these ponzi measures.
What do you think will happen when to the bulls when it all continues to go downhill ? Should be the question you need to ask, not the delusional one.
How to you think our economy can ever improve with our wages the highest in the world. Where we cannot compete with The euro Us or UK as our wages are double any of theirs. And they cannot compete with China becausetheir wages are seven times what chinas are. Don't you understand buddy, that the Chinese now make EVERYTHING for next to nothing and none of us can compete with this shit. Game over.
So good luck about your improving economy.
We are looking at years of decline , its looking like decades the way they are going about it. one day you will see this if you can't already.
Another good example of what I was talking about regarding the quality of bear posts here lately. This is about as good as they get. That's why I haven't bothered posting much. There's nothing left to debate. The bulls already won, and the bears are left posting this sort of pointless nonsense.
A feeble and childish response from a person secretly gripped with panic.
Despite your protestations I suspect you'll soon be back to suffer the indignity of more abuse; the frequency with which you have posted here suggests you don't have a lot else going on in your life.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
If the economy is in such a dreadful mess, worst state since the great depression, YET HOUSE PRICES ARE STILL RISING, what do you reckon is gonna happen when the economy recovers???
Movements in house prices are not that solidly attached to the basic need for shelter from the elements or to the broader economy - that's history. The price drivers are now largely speculative.
A feeble and childish response from a person secretly gripped with panic.
the frequency with which you have posted here suggests you don't have a lot else going on in your life.
^^ This.
He wants to claim earlier that the bears can't put a cohesive argument together. Go and address my arguments earlier one by one
But let's look at the facts.
He stays well away from any thread that mentions wages falling, industries collapsing or youth unemployment to name a few. The fact is, he has no answers or arguments for these, and does not even try and just stays well away.
The only threads he comes on , are ones where he can post his cherry picked graphs from 2003. Yet prices doubled since 2000, while he was holding zero Sydney properties and missed the boat. My two were surging shadow, with one already doubled in price prior to this.you were yet to enter the market. You think you have anything on me shadow. Maybe Ill sign a new account and say my final goodbyes before you dissapear forever .
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