To me the chart for savings shows the demographics really and the changes in the ages of the boomers.
peter fraser
23 Sep 2014, 09:41 PM
Well we can only save as fast as net credit is being created.
If we are not saving much it's because we are not borrowing enough.
So I sell $1m of apps, receive the foreign income, put it in the bank, and that is not savings because of no credit created? I want some of your drugs...
Well we can only save as fast as net credit is being created.
If we are not saving much it's because we are not borrowing enough.
If you look at interest rates between 1995 and 2008 in the chart here - http://www.loansense.com.au/historical-rates.html you will find that savings are negative when interest rates are low. That's because borrowers must have been repaying loans faster than they were borrowing.
Do you have a graph on credit growth over that period?
PF - "Well we can only save as fast as net credit is being created." Bullshit I say. Explain to me why my bank account is not savings from the proceeds of OS sales of apps?
So scabby, going to admit you got your unprecedented comment 100% wrong?
saving is far from unprecedented no matter which way you slice it...
Unprecedented since 1985/6 Massive, you have to go back nearly 30 years to see savings at higher levels than today.
It is daft to say that because savings were higher 30 years ago that this negates my point in any way. The main point that I made was that assuming the majority of Australians are stupid with their money(as you did in your post) is just not reasonable. There have been times of this kind of over exuberance (or whatever they call it) which you described, but those days died in about 2003.
Australians are sitting on a lot of money and when confidence returns that money will return to real estate. I cannot understand why you would believe that prices will stay at levels last seen in 2007. It seems even odder to me that people think that prices in places like Perth that are down in by up to 40% from 2007 will not recover let alone drop more.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
So I sell $1m of apps, receive the foreign income, put it in the bank, and that is not savings because of no credit created? I want some of your drugs...
yes it's savings, but what does that have to do with the subject of aggregate savings. You are just one person.
If a borrower is paying $2000 per month off his house and interest rates fall, but he keeps making the same payments then his loan gets paid off faster which is negative lending growth. IE at the moment banks are lending very strongly but because interest rates are very low borrowers are repaying loans much faster, so the net credit growth is not very high despite the strong lending.
Do you get that?
Any expressed market opinion is my own and is not to be taken as financial advice
Yep and when I posted it I do not think I made any mention of Super in or out.
Fact is scabby stated that we were saving at an unprecedented rate and that is false.
huh you posted one graph then another and pretended they were the same graphs - you are so dishonest - you are one of the few people on here who never fess up when they make mistakes and you know that makes people think you do it on purpose to intentionally deceive.
I agree with you on many topics outside of your obsession with boomers being evil and your predictions of big dramas in the property market. Yet I cannot trust one thing you post as I have seen this type of behaviour from you a few times now.
You should just fess up and admit that you changed the data you posted and apologise for your dribbly old person name calling. I don't believe you will do this as you appear to have no social conscience at all.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
huh you posted one graph then another and pretended they were the same graphs - you are so dishonest - you are one of the few people on here who never fess up when they make mistakes and you know that makes people think you do it on purpose to intentionally deceive.
I agree with you on many topics outside of your obsession with boomers being evil and your predictions of big dramas in the property market. Yet I cannot trust one thing you post as I have seen this type of behaviour from you a few times now.
You should just fess up and admit that you changed the data you posted and apologise for your dribbly old person name calling. I don't believe you will do this as you appear to have no social conscience at all.
Nope, never changed a post, not selling financial products, I admit mistakes, ask PF, and you dribble.
Thinking work (IMO) is too hard for 95% of people - Which probably includes maybe 90% of them what's paid pretty good loot to pretend that they can do thinking work even though they can't.
Pretty much nail on head there herbs ... I reckon some of thems 90% might be in fer a surprise soon tho.
b_b
21 Sep 2014, 08:58 PM
So even though your puppy is alive, will you listen to someone who insists it's dead?
Course not mate, but i aint gunna believe coz I got it to 2 years that the little fella aint going to die ever.
2 runs in the first over does not mean you,re gunna score a ton.
Nope, never changed a post, not selling financial products, I admit mistakes, ask PF, and you dribble.
I showed clearly how you posted a link to one plot and then posted another which was completely different. Now everyone can see how you lie and act like an ageist bigot when you get pushed into a corner. So much for your social conscience. You are essentially the same as Timo, you blame other people for your problems and fill your posts with bigoted insults. There is no difference between denigrating people because of their race, religion or disability and denigrating them because of their age.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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