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Foxbats new prediction; House prices and all assets to come under pressure
Topic Started: 25 Nov 2015, 06:17 PM (59,383 Views)
skamy
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Jimbo
21 Jan 2016, 10:05 PM
Losing the plot is trying to make an omelette by beating a bit of paper with "IOU Six Eggs" written on it.
Jimbo you choose the funniest straw men.

Bartering is a method of trading that was dreadful and lacked so many of the benefits of good old cash. Do you seriously think the Neanderthals with their bartering had a better system than the Chinese with their gold and silver coins. Why don't you put these doomster theories to even the most basic sanity test.

It is utter madness to believe that bartering was a better system. Seriously what does your Irish Missus make of all these "back to the dark ages" theories of yours?
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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Jimbo
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skamy
21 Jan 2016, 10:50 PM
Bartering is a method of trading that was dreadful and lacked so many of the benefits of good old cash. Do you seriously think the Neanderthals with their bartering had a better system than the Chinese with their gold and silver coins.
Trying to buy a cow with eggs was hard work. So a medium of exchange was invented to make life easier.

The medium of exchange was made of something real.

Then it became paper but was pegged to something real.

Then it was unpegged and just became a bit of paper.

Then the paper became the focus of our economies rather than the real things the bits of paper were supposed to represent.

Then we thought we could create real things by creating more paper.

And then we thought that throwing paper in a ceratin direction would return us more paper at some point in the future.

And we could exchange this for real things.

And you call me insane.





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.
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skamy
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hidflect
21 Jan 2016, 10:28 PM
I have a pretty skilled friend who can somehow run the stats on Seek and he mailed me to say that salaries offered have dropped an average of $15,000 recently. Given that most mortgages are based on a double income, that means $30,000 has gone "poof" for anyone moving into Perth which doesn't bode well for future bank loans.
House prices have not risen in Perth since 2008 yet the ABS wages index for WA has risen from 95 to 124 over the same period. That is a 30% hike.

The problem with your guys seek search is that only a very small proportion of jobs are advertised at any given time. It is one thing to say that over the last few months lots of jobs have been advertised at lower rates, it is something else entirely to claim that now every income in every family has taken a wages haircut.


Wait a few months for the ABS index to come out and you will see how silly your man's conclusions were.

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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Foxy
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Zero is coming...

Jimbo
21 Jan 2016, 09:01 PM
The collapse started on the day someone decided that instead of taking six eggs in exchange for a loaf of bread, they would take a bit of paper with "IOU six eggs" scribbled on it.

The rest is history (or for those who haven't quite got to grips with it yet, it will be history very soon).

The old three card trick works every time on the poor little monkeys...


https://www.youtube.com/watch?v=S89e_U_ygMw


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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skamy
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Jimbo
21 Jan 2016, 11:01 PM
Trying to buy a cow with eggs was hard work. So a medium of exchange was invented to make life easier.

The medium of exchange was made of something real.

Then it became paper but was pegged to something real.

Then it was unpegged and just became a bit of paper.

Then the paper became the focus of our economies rather than the real things the bits of paper were supposed to represent.

Then we thought we could create real things by creating more paper.

And then we thought that throwing paper in a ceratin direction would return us more paper at some point in the future.

And we could exchange this for real things.

And you call me insane.




The doomsters are always selling a return to some kind of gold standard and again it is utter rubbish. The monetary system is here to stay and it is depply flawed but somehow it has led to the enrichment of the world rather than impoverishment.

Sites like zerohedge run stuff like this all the time because they are trying to sell a use for gold and silver that is defunct -kuput -died and gone to heaven -decades ago.
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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Foxy
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Zero is coming...

skamy
21 Jan 2016, 11:04 PM
House prices have not risen in Perth since 2008 yet the ABS wages index for WA has risen from 95 to 124 over the same period. That is a 30% hike.

The problem with your guys seek search is that only a very small proportion of jobs are advertised at any given time. It is one thing to say that over the last few months lots of jobs have been advertised at lower rates, it is something else entirely to claim that now every income in every family has taken a wages haircut.


Wait a few months for the ABS index to come out and you will see how silly your man's conclusions were.
So Skamy,
If Perth house prices have not gone up for 7 or 8 years, and the CPI is running ar say 3% per year and the Australian dollar has dropped 40%, would you not agree that the "real" perth house prices are down at least 40% from their peak???

Peter

Please read all of the original post...

Real terms and peak were key points


http://australianpropertyforum.com/topic/10276715/1/
Jimbo
21 Jan 2016, 11:01 PM
Trying to buy a cow with eggs was hard work. So a medium of exchange was invented to make life easier.

The medium of exchange was made of something real.

Then it became paper but was pegged to something real.

Then it was unpegged and just became a bit of paper.

Then the paper became the focus of our economies rather than the real things the bits of paper were supposed to represent.

Then we thought we could create real things by creating more paper.

And then we thought that throwing paper in a ceratin direction would return us more paper at some point in the future.

And we could exchange this for real things.

And you call me insane.




You are perfectly sane..

Peter
Terry
21 Jan 2016, 09:31 PM
Doesn't need bookmarking. I don't predict crashes or booms. I'm not a fraud or a conman.
Hi Terry,
I can not work out if these people are slow or just deliberately provoke??

I am tending towards slow, they simply can not understand logic and the English language.

Anyway time will sort the chaff from the wheat.


Jimbo
21 Jan 2016, 10:05 PM
Losing the plot is trying to make an omelette by beating a bit of paper with "IOU Six Eggs" written on it.
Thats what they do, then go to the doctor and say they have a tummy ache...


hidflect
21 Jan 2016, 10:28 PM
I have a pretty skilled friend who can somehow run the stats on Seek and he mailed me to say that salaries offered have dropped an average of $15,000 recently. Given that most mortgages are based on a double income, that means $30,000 has gone "poof" for anyone moving into Perth which doesn't bode well for future bank loans.
It will take time to hit home, pardon the pun...
Jimbo
21 Jan 2016, 10:42 PM
Most Seek ads don't state a salary.

It is very easy to run a query on any data set. Not so easy to get it right.

Maybe he looked at all WA jobs and specified a wage range. But where no wage is stated, that job will appear as matching, under and over the wage specified in the search criteria.

But I do agree with the findings. Three years ago we imported a highly skilled Engineer from Malaysia, paid his visa charges, paid for his family to fly over and check Perth out, check out the schools. Put them in a rental when they first arrived, paid their shipping costs, sorted him with a car.

Last week we let him go because we had nothing left for him to do (plus he was a lazy <unt).

If we needed a replacement, we wouldn't even need to log onto Seek. Just pick from the 5 or so a day that have been dropping in their CV's over the last year.








A friend of mine put an add in for a barista,
He got 2 replies, 200 that is and still counting, one guy was a project managing engineer who owns a Nespresso machine, now made redundant.

He was on big money, now living on a mates lounge in East Perth, he does massage and probably blow jobs for a little extra sustenance and cash.
Probably does blow jobs for a cheese sandwich.

I could get his number if anyone wants to give him a go???

After all you got to strike a blow for the Western Australian economy.

Give till it hurts.






http://www.abc.net.au/news/2016-01-11/rental-growth-at-record-lows/7080564
Edited by Foxy, 21 Jan 2016, 11:27 PM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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skamy
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Peter I have been saying all along that Perth is a stagnant market and you claimed otherwise - you are now just trying to wiggle out of your big crash predictions.

You said nothing at all about all this until you started to look a bit silly on your 40% crash thread.

You can repeat the same thing over and over Peter but everyone on here knows that your claim was for property prices not a falling dollar.

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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Foxy
Member Avatar
Zero is coming...

skamy
21 Jan 2016, 11:28 PM
Peter I have been saying all along that Perth is a stagnant market and you claimed otherwise - you are now just trying to wiggle out of your big crash predictions.

You said nothing at all about all this until you started to look a bit silly on your 40% crash thread.

You can repeat the same thing over and over Peter but everyone on here knows that your claim was for property prices not a falling dollar.

Skamy, do you have any idea what "real" terms from peak means???

I will help you, just ask.
Peter

One question Skamy, at school was maths your strong suit??


skamy
21 Jan 2016, 11:28 PM
Peter I have been saying all along that Perth is a stagnant market and you claimed otherwise - you are now just trying to wiggle out of your big crash predictions.

You said nothing at all about all this until you started to look a bit silly on your 40% crash thread.

You can repeat the same thing over and over Peter but everyone on here knows that your claim was for property prices not a falling dollar.

Skamy, do you realise that you may be "in" the big crash, low interest rates and a depreciation of our dollar by 40%.

Skamy please imagine a world that did not depreciate our dollar by 40% and drop interest rates to their lowest in living memory??????

So in "real" terms we are in what could only be called a depression, It's just that the conditions are being wildly varied around us.

So people like you and i are not vaporized immediately.

We are being insulated by super low interest rates and a massive drop in the purchasing power of our dollar.

Skamy wake the fuck up.

Peter




Skamy, come clean please, let me know what your landtax was for the last three years.

Has it gone up and if so by how much??

Peter
Looks like Woodside will be hiring more people...


http://www.bloomberg.com/news/articles/2016-01-20/woodside-sees-up-to-1-2-billion-in-writedowns-after-oil-rout
Edited by Foxy, 22 Jan 2016, 12:27 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Foxy
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Zero is coming...

Skamy
I found this for you,
Please watch it.

http://www.bloomberg.com/news/articles/2016-01-21/china-economic-transition-in-sync-with-australia-morrison-says
http://www.bloomberg.com/news/articles/2016-01-20/chevron-s-costly-lng-project-to-start-in-shadow-of-oil-collapse
Edited by Foxy, 22 Jan 2016, 02:06 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Chris
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Jimbo
21 Jan 2016, 10:05 PM
Losing the plot is trying to make an omelette by beating a bit of paper with "IOU Six Eggs" written on it.
Shamy it's one for breakfast eeeeevery day, tastes so much better than real eggs.
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