In fact, if you go through Forbes Global rich list, with only one exception, the billionaires that made their money from property are from a country full of mentally backward medieval peasants: China.
Nonsense.
Most of the ethnic-Chinese property billionaires on the list made their money from developing Hong Kong, latterly a world-class city-state essentially bereft of "mentally backward medieval peasants" (your description).
And there are a considerable number of non-ethnic-Chinese property billionaires on the list. From Australia alone, there are - Harry Triguboff - Frank Lowy - John Gandel - Stanley Perron - Maurice Alter - Alan Rydge
Most of the ethnic-Chinese property billionaires on the list made their money from developing Hong Kong, latterly a world-class city-state essentially bereft of "mentally backward medieval peasants" (your description).
And there are a considerable number of non-ethnic-Chinese property billionaires on the list. From Australia alone, there are - Harry Triguboff - Frank Lowy - John Gandel - Stanley Perron - Maurice Alter - Alan Rydge
Your argument seems to support Lokis contention.
WHAT WOULD EDDIE DO? MAAAATE! Share a cot with Milton?
many of the bears clearly are, take goldbugs as an example.
You are a twat Frank. Did you end up staying somewhere dodgy because you couldn't spot the owners review? A bit like spotting the obvious RE industry spruikers on here.
Most people with a brain cell know that you should strip out the best and worst reviews.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Yes, corporations are developing their own sovereignty, however it is not nationalist, but trans-nationalist. Corporations already build infrastructure for their own use in the developing world. Health care is harder to say. Some corporations employ full time medical practitioners to take care of expat staff in third world countries they operate in, but it is far from universal. There is a competitive global market for skilled and experienced staff. Muscle labour is abundant everywhere and requires no special incentives to hire. The mostly likely outcome is a form of corporatism where the top staff are looked after by the best possible physicians, personal trainers, dieticians, chefs, and the rest of the population get to lump it. Any social unrest that comes about as a result of this will be dealt with by an increasingly militarised and surveillance capable state and corporatocracy.
I think it is an inevitable thing. Good or bad is a perspective. For some it will be very good, for many, very bad. For the other organisms on the planet going extinct at ten times the rate of a century ago, it will probably be very bad, unless it results in the human population shrinking (unlikely).
I think Piketty's idea is naive. There isn't even global governance to enforce such as tax, and creating such a governing body would require a global military dictatorship. That's the problem with tax ideas from socialists, they omit the fact that taxes are collected by force, and that those who are most motivated to avoid such taxes are very good at creating conflict, social unrest and other distractions to thwart the efforts of the tax collectors.
I really don't think it will make a lick of difference. The surveillance and military capabilities of the government are now orders of magnitude greater than the populace, and their techniques of psychological manipulation are the best they have been in human history. Most of the chickens are easy to frighten by cutting the head of a few monkeys. Terrify the populace with an external boogeyman, then dissolve democratic institutions piece by piece in the cause of fighting said boogeyman. Any individual, no matter how populist, is easy to compromise. They all have skeletons and weaknesses.
Sorry, that was a little depressing, even for me.
I think there is an alternative to the scenario above. I think that a possible way forward for governments is to get rid of income taxes and corporate taxes altogether and collect consumption or even transaction taxes. Transaction taxes can be very small from the point of view of the population (as little as 3%), but because they are cumulative, they can collect as much tax as income tax or corporate tax without having to employ anyone in the tax office.
Governments that attract both corporations and qualified/skilled labour by changing the tax regime in the above way will attract the wealth creators and the flow on effects that entails. In some sense, this is already happening. Both Singapore and Hong Kong regularly lower their tax rates to keep financial services business within their respective domiciles. In other words, the two governments are competing with each other to offer the best environment for banks and insurance companies to set up in their respective cities. Once you are the financial hub for a region, it has inertia.
I don't see Australia competing effectively in this way, so corporations that are not tied here for geographic reasons will move to more competitive tax environments.
stubby
18 Aug 2015, 09:00 AM
Nonsense.
Most of the ethnic-Chinese property billionaires on the list made their money from developing Hong Kong, latterly a world-class city-state essentially bereft of "mentally backward medieval peasants" (your description).
Seriously? Have you lived in Hong Kong? In the suburbs? Because I have, and I can assure you, they fit the description exactly.
Quote:
And there are a considerable number of non-ethnic-Chinese property billionaires on the list. From Australia alone, there are - Harry Triguboff - Frank Lowy - John Gandel - Stanley Perron - Maurice Alter - Alan Rydge
I was only looking at the first page, but yes, there are plenty of billionaires at the bottom of the list from this mentally backward medieval peasant country.
Jimbo
18 Aug 2015, 03:48 AM
Tripadvisor is brilliant. It is not just a money saving tool. It raises the game of competing hotels. You end up getting more for less.
Information is the great deflator.
Agreed, and more for the bad, but specific, reviews than the good ones. Particularly when someone says something like "we have been coming here every year for the past 5 years, but this time the room was dirty, the carpets smelled, the garden was dying and the pool was green".
Admittedly, someone with Frank's intelligence is always going to struggle understanding the world, but it is an amazing resource for those whose IQ is over 80.
Seriously? Have you lived in Hong Kong? In the suburbs? Because I have, and I can assure you, they fit the description exactly.
I was only looking at the first page, but yes, there are plenty of billionaires at the bottom of the list from this mentally backward medieval peasant country. [Australia]
Oh dear. You and ex BP Golly seem to share an overweening superiority complex, considering yourselves well above the "mentally backward medieval peasants" you seemingly encounter everywhere.
Let us know when you come back to Earth, and are prepared to engage in actual discussion and argument.
Oh dear. You and ex BP Golly seem to share an overweening superiority complex, considering yourselves well above the "mentally backward medieval peasants" you seemingly encounter everywhere.
Let us know when you come back to Earth, and are prepared to engage in actual discussion and argument.
I'll take that as a no then, you haven't lived in the suburbs of Hong Kong and you have no fucking idea what you are talking about.
Thanks for the snack.
“Talk sense to a fool and he calls you foolish.” - Euripides
Agreed, and more for the bad, but specific, reviews than the good ones. Particularly when someone says something like "we have been coming here every year for the past 5 years, but this time the room was dirty, the carpets smelled, the garden was dying and the pool was green".
I use review sites for everything now. So do most people I know.
We bought a new washing machine recently.
Instead of trailing around retail parks listening to sales patter, we spent an hour on the web reading reviews and checking prices.
We had every washing machine on the planet to compare and contrast and once we decided which one we wanted, we could see who had our intended machine for the lowest price.
I can do this at work as well. I can see who has what steel, how quickly they can get it to me and for how much.
The phrase "I have seen it cheaper on the web" tortures the ears of every supplier on the planet.
Supplier margins and profitability are being squeezed as a result. Information is increasing competitiveness and reducing the chance of making a quick buck from the naivety of the buyer.
Suppliers get paid less, they reduce their costs. If that fails, their sovereign reduces the value of their currency.
When one side reduces price, the other side knows about it straight away. There is no one day advantage anymore. Every move is anticipated, modeled and countered almost instantly. You sell your milk for 5c less, the other supermarket drops theirs by 6c five seconds later.
Information is a game changer and the days of exponential profit growth are over because of it.
So what happens to an economic system designed around perpetual exponential profit growth?
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Such anger Did that emotional outburst make you feel better about yourself?
Quote:
Did you end up staying somewhere dodgy because you couldn't spot the owners review?
I stay in private Apartments and Villas when I travel I don't stay in overpriced shitbox hotels reviewed by backpackers and owners shills but if that is the best you can do go right ahead
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
The point is obvious mattie, you are just an angry liitle knuckle headed bogan, and you can't see it, although I just re-stated it... Again.
I am sure Jimbo is happy to have you as his personal fluffer, but other than that I can not see what purpose your existence serves.
Fluffler? I had to google that, and it's a porn movie term isn't it mattie. You've obviously spent a lot of time with your cock in one hand and the video remote in the other. You sick little unit
Keep posting mattie, at least until the landlord kicks you out for leaving stains all over his living room carpet.
Frank Castle
19 Aug 2015, 09:20 AM
Jimbo
18 Aug 2015, 01:50 PM
You are a twat Frank. Did you end up staying somewhere dodgy because you couldn't spot the owners review?
I stay in private Apartments and Villas when I travel
Yes we know fwank we know... You prefer pool villas because the water at the back door makes you feel at home The quintesential sex tourist, that's fwank.
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