Whilst I hearing you, and actually I don't fully understand it all myself, what I'm seeing in Brisbane, is people spending money like its water. Stuffed If I know where it's all coming from.
Renos everywhere, new constructions everywhere, traffic everywhere, everything booked out from Noosa to Coolangatta, restaurants and bars full. Well perhaps I'm exaggerating a little but it feels like that. I just wish I was a part of it, but I've got to be frugal!
Whilst logically, lots of cards seem ta be stacked against Brisvegas at tha mo, I'm personally punting it'll be more positive than negative for owners of debt free houses as IPs. (As evidenced by me personal decision ta buy another shitbox in tha region about 18 months ago - Wif same havin' bin mentioned here at tha time of purchase. 'N wif me not feelin' ANY inclination ta reverse that decision 'n sell at this time.)
Steve Keen will be proven absolutely wrong again with his latest prediction. The worldwide economy is very bullish and this boom is only getting started.
The bears will forgive Keen for his latest blunder and say that it is only his timing that it is wrong.
Committee recommends increasing Norway sovereign wealth fund's equity allocation
Yes a whole lot of what he said makes a lot of sense. Doesn't mean he will be right on his call though.
The problem with Keens theory is that it is vacuum tested only - it works in a controlled environment but every variable changes the outcome more to the normal than boom / bust.
The best point he makes is in relation to government debt in Australia. The Government should be taking on debt to invest in infrastructure. Create employment, tax new wages, states get payroll tax, trickle down effect in consumer spending etc.
The infrastructure in this country is third world at best. Our country roads are a joke, congestion clogs every capital city. We cling to 80 year old hospitals and schools.
The issue is that most of the current Australian Government debt was accumulated with no positive economic impact.
My only hope for my three boys is that they turn out nothing at all like Chris.
Sometimes if you hold onto the pennies too tightly you have no hands free to catch the pounds floating your way.
Brisbane has just been through a very long period of decreased confidence and house prices have been stagnant for a long time. In my long life I have rarely seen times like these, to me it looks like a good time to be investing not hoarding.
You have seen what happened in Melbourne and Sydney. You have witnessed the many tears of Terry, createdby, Chris, TED etc etc do you really want to follow then into their financial graveyards.
The doomers were wrong dump them and look after your own long term future. These doom and gloom charlatans are happy to see young people miss out if they can use them to drive their extremist agendas.
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