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The Great Wall of Money 4 Corners
Topic Started: 13 Oct 2015, 09:24 AM (1,196 Views)
John Frum
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Bit of a damp squib really. It certainly didn't corroborate MacroBusinesses' spurious idea that foreign investment was pricing locals out of the property market, the focus was more on moral/legal/political arguments around the dodgy money used to purchase high-end homes.

Overall my impression was that, as with the Japanese in the late 80's Chinese investment in our property market will be a net positive for Australia in the long run, albeit with a massive correction phase in the short term as the world deleverages from this mess.

What we are witnessing now is the madness of an economy at the tail end of an unprecedented expansionary phase, where individuals are now desperately trying to hide their ill-gotten money before their state's debt collectors come knocking. Good luck with that.
Edited by John Frum, 13 Oct 2015, 09:25 AM.
"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.
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SittingOnDeFence
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It wasn't all that shocking really

I was hoping they'd confront the people thinking of buying the polo club/farm at the end, see where they were getting their cash from
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Ex BP Golly
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It was not usual 4 corners standard thats for sure.

The only thing worthwhile to emerge from the show would be the opportunity for Australians to realise that FIRB, AUSTRAC etc have entirely abandoned their responsibilities and, like the broken down donkeys they are, should be put down.

WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Foxy
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Zero is coming...

John Frum
13 Oct 2015, 09:24 AM
Bit of a damp squib really. It certainly didn't corroborate MacroBusinesses' spurious idea that foreign investment was pricing locals out of the property market, the focus was more on moral/legal/political arguments around the dodgy money used to purchase high-end homes.

Overall my impression was that, as with the Japanese in the late 80's Chinese investment in our property market will be a net positive for Australia in the long run, albeit with a massive correction phase in the short term as the world deleverages from this mess.

What we are witnessing now is the madness of an economy at the tail end of an unprecedented expansionary phase, where individuals are now desperately trying to hide their ill-gotten money before their state's debt collectors come knocking. Good luck with that.
It is not all ill gotten, a lot of people have work honestly for that money, now they are finding it hard to get a home for it.

I have the answer.

But not yet.

Peter
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Ex BP Golly
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SittingOnDeFence
13 Oct 2015, 09:30 AM
It wasn't all that shocking really

I was hoping they'd confront the people thinking of buying the polo club/farm at the end, see where they were getting their cash from
You forget.
ABC journalists are extremely middle class, the epitome in fact of Lathams aspirational voters.

They also require high house prices, so won't Give the boat a really good rocking.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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SittingOnDeFence
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Ex BP Golly
13 Oct 2015, 09:34 AM
You forget.
ABC journalists are extremely middle class, the epitome in fact of Lathams aspirational voters.

They also require high house prices, so won't Give the boat a really good rocking.
Lu Lu (Real Estate Agent): "The Chinese want to buy homes on Sydney Harbor"

Ground breaking stuff alright!
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zaph
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Why do the USA commentators always have such bad glasses?
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Ex BP Golly
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SittingOnDeFence
13 Oct 2015, 10:08 AM
Lu Lu (Real Estate Agent): "The Chinese want to buy homes on Sydney Harbor"

Ground breaking stuff alright!
Not your usual 4 Corners standard.

I rather suspect that it was heavily re-edited and rearranged (dare I say censored?) at the last moment, and we were presented with something stitched together with a lot of shit resurrected from the cutting room floor.

For an issue that properly handled could result in an easy Walkley pick up it was very ho-hum.
Edited by Ex BP Golly, 13 Oct 2015, 06:39 PM.
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Share a cot with Milton?
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