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Luck running out: Peter Costello warns of hard days ahead as property market slows
Topic Started: 17 Sep 2014, 04:01 PM (2,753 Views)
DragonGM
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Peter Costello has warned of widespread hardship when the property sector's rapid growth inevitably slows in an economy already manned by nervous consumers whose real wages are falling.

At a property industry event in Sydney on Wednesday, the former treasurer said Australia's luck was "beginning to run out", the country had big questions to grapple with in the near future.

"We've got anxious consumers who are saving money, with real wages falling in a country where incomes have peaked. And they're distrustful of the political class where consensus is breaking down. We need to work out how to put things back together."


Read more: http://www.smh.com.au/business/the-economy/luck-running-out-peter-costello-warns-of-hard-days-ahead-as-property-market-slows-20140917-10i0t7.html#ixzz3DXzP9ckF
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bundy
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It is amazing that articles like this are now in the mainstream media.
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bundy
17 Sep 2014, 04:46 PM
It is amazing that articles like this are now in the mainstream media.
Just the truth and reality finally overtaking the bullshit that is usually portrayed.

His words' In a country, where incomes have peaked'. And by this, he means permanently.

Same as my thread a little while ago, ' An historical event about to take place in Australia'. Where rents have now peaked in all capitals, which is a result of falling jobs and wages thanks to cheap asain labour and modern tech in computerised automation. This too is another historical event taking place as it is in all other western economies. Where wages have risen up decade after decade, they have now peaked, and will decline, just as rents and prices will too. Its no rocket science, and is nothing at all like previous history where it seemed wages and rents and prices would grow forever. Not anymore. As I have said before, western economies have peaked and run their course. Their time in the sun , of decade after decade of what seemed like strong and endless prosperous growth is now over, and has turned into one long decline that really has no end in sight. A complete turnaround, from what once seemed so safe and secure, to the now unsafe and unsecure future we now face.

How times change........
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Perthite
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Iron ore... tick
Coal... tick

next?
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ThePauk
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Diamond Member
Yer, soon we will be hearing about the 'crash we had to have'....lol
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Foxy
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Zero is coming...

Perthite
17 Sep 2014, 07:09 PM
Iron ore... tick
Coal... tick

next?
next??
The wealth of Australians is contained not in their houses but in the believe in the value of their houses.
If that gets a shake.
Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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newjez
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Perthite
17 Sep 2014, 07:09 PM
Iron ore... tick
Coal... tick

next?
Property
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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goldbug
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So we don't need to worry about oil depletion rendering our suburban city model untenable because all these nifty renewables will be along anyday. They will allow us to re-surface the roads when they decay, replace the water mains when they rust away, and and continue to provide the thousands upon thousands of tons of food a day that come from thousands of miles away.

Fair enough, but they better get it sorted out soon because were running out of time, and the cities aren't getting any smaller.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Ex BP Golly
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Perthite
17 Sep 2014, 07:09 PM
Iron ore... tick
Coal... tick

next?
BANKS
goldbug
18 Sep 2014, 08:06 AM
So we don't need to worry about oil depletion rendering our suburban city model untenable because all these nifty renewables will be along anyday. They will allow us to re-surface the roads when they decay, replace the water mains when they rust away, and and continue to provide the thousands upon thousands of tons of food a day that come from thousands of miles away.

Fair enough, but they better get it sorted out soon because were running out of time, and the cities aren't getting any smaller.
Cities are just zombie shit factories.
Edited by Ex BP Golly, 18 Sep 2014, 11:49 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Dr Watson
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Leith van Onselen sees an end to the "population ponzi":
Quote:
 
It is often forgotten that there are strong market dimensions to immigration and if unemployment, costs of living and the AUD all go the wrong way then we would expect to see a large fall in net migration, as migrants shun Australia in favour of more financially rewarding destinations.
The debate in the comments section quickly degenerated into racism:
Quote:
 
The Australian population ponzi, the largest in the western world by a very long way, does NOTHING for white Australians. It just clogs our cities, and costs us the price of building a city the size of Canberra EVERY year. And brings us 350,000 Asians here every year. When will us bloody dumb white bastards learn and start screaming at the dickheads who allowed this to happen?
Edited by Dr Watson, 18 Sep 2014, 12:43 PM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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