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Why Australia can't avoid a recession; (& Canada, Korea, China and others)
Topic Started: 12 Dec 2016, 11:25 PM (8,491 Views)
Jon Snow
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herbie
16 Dec 2016, 11:54 PM
I personally pulled about $180K out of me bank accounts 'n had it stashed around tha house in tha run up to 'n during tha GFC - Before Krudly Dudly got tha hint 'n introduced his bank guarantee. (George Bush II had a lot ta do wif him comin' ta his senses - As best as I could made of it - Yunno, a personal phone call ta Stupid [as in Krudly Dudly] late one nite as best I could make of it.)

Anyway, I took about three months ta think it all over/ask meself just how much I trusted tha f***er's guarantee before moving it back inta his potentially shitty banks.

'N some time after doing so I turned up $5K I had stashed in a vacuum cleaner I couldn't even recall stashing there - LOL

Ah, they were heady days alright ... :)

That's hilarious!

You didn't trust banks so you withdrew cash, which is an overnight bond issued by a BANK, and hid it in YOUR HOUSE! Turning into a tinderbox!

:lol :lol :lol

What were you saying about mental illness on another thread?
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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herbie
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Jon Snow
17 Dec 2016, 12:33 AM
That's hilarious!
It surely didn't feel funny at tha time I tell ya.
Jon Snow
17 Dec 2016, 12:33 AM
You didn't trust banks so you withdrew cash, which is an overnight bond issued by a BANK, and hid it in YOUR HOUSE!
Me old grandads 'n grandmas wot went through tha Great Depression had cash stashes right back up until tha 80s when they died - Wif tha Oz quid (back in tha Great Depression days) not being dishonoured ta tha best of my knowledge.
Jon Snow
17 Dec 2016, 12:33 AM
What were you saying about mental illness on another thread?
Ya can accuse me of of bein' ignorant if ya want - I'd surely accept tha criticism. (Tho mentally ill - Hardly.)

But regardless, nothing you've said tells me I woz wrong ta stash cash (Tho not that any such 'ancient history' debates actually matters a f*** nowadays regardless - Wif there being a bank deposit guarantee in place now - If one opts ta trust our gubmint wot's givin' it - Which seems like a reasonably fair call ta me).

But hey, if ya don't, then JUST BUY HOUSES!!! - LOL ...

'Cause they're at least usually worth lots 'n lots 'n lots - Unless ya buy 'em in mining towns or Detroit ... :)
Edited by herbie, 17 Dec 2016, 11:48 AM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Elastic
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popey
16 Dec 2016, 03:59 PM
why are you even replying to a troll? LOL
The great thing about Trollie is that he can't even troll well.
It's the running joke of the forum.
Only a rat can win a rat race.

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herbie
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Elastic
17 Dec 2016, 11:03 AM
... the running joke of the forum ...
I'd have awarded that guernsey ta Tezza or Rastus or Simon?
Edited by herbie, 17 Dec 2016, 11:53 AM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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skamy
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Jon Snow
15 Dec 2016, 07:43 PM

:wak: It's got nothing to do with the GFC you turnip! Real wages have been slowing/going negative all over the Western world for DECADES, hence the rise in private debt. The credit impetus has replaced wage growth in final demand.

Yes, a centrally planned communist economy can set wages to any level they like, but they can't push up purchasing power (i.e. real wages).

Is that where you see yourself? As part of the super-rich stealing from the poor and future generations? Interesting self-image.

You are the one who supported this madness by buying into it. You and all the other greedy useless eaters. Thought you would all be millionaires and rockstars because you discovered some secret squirrel magical method to effortless riches. It's hard to determine whether it's laughable or despicable.

Seig Heil! Got any other orders from up on high you would like to pass down to young people?
Jon Snow YOU are the one who has fallen for the rhetoric of the MSN. Credit is intrinsically tied to wages growth not the opposite. If wages had grown more credit would have grown more.

You are determined to believe that credit is evil and what is more you actually believe that current levels are unstable/unsustainable. You based your decision making in 2012 and since on that fallacy. It has cost you big time because it is silly doomster nonsense. people have been selling that crap to a certain type of young person since I was a kid.

You have a made up version of the world playing in your fantasies, where normal working people who seek to buy their own home or invest in property are engaging in some kind of evil crime against their children.

Plenty of people your age bought with Rudd's grants and they have done better in property than their parents ever did, I say fair play to them - they took a punt on a good future for our cities and it paid of handsomely for them. Doom and gloomers like Keen and yourself who were hoping to get a free run on all the bad luck of others got what was coming IMHO.

You say these young people were evil and they are robbing their own children, seriously can you still not see through this absolute nonsense. the people around you must be pulling their hair out with you stubbornness to stick with this doomster silliness.

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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Rufus
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Jon Snow
17 Dec 2016, 12:33 AM
You didn't trust banks so you withdrew cash, which is an overnight bond issued by a BANK, and hid it in YOUR HOUSE! Turning into a tinderbox!
Cash is not issued by a commercial bank, it's issued by the RBA. It's a debt owed to the bearer by the Federal Government.
But of course you know that.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Trollie
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Rastus2
16 Dec 2016, 02:57 PM
shadow
You on about Shadow again?!
Elastic
17 Dec 2016, 11:03 AM
The great thing about Trollie is that he can't even troll well.
It's the running joke of the forum.
Well I got all 3 of you replying to everything I post :lol
Edited by Trollie, 17 Dec 2016, 08:34 PM.
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Jon Snow
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Rufus
17 Dec 2016, 03:09 PM
Cash is not issued by a commercial bank, it's issued by the RBA. It's a debt owed to the bearer by the Federal Government.
But of course you know that.
I wasn't aware that commercial banks in Australia still issued their own notes.
Look, if you are trolling, well done, you got me good! But if you are serious, you should really stop making such a fool of yourself.

Quote:
 
Credit is intrinsically tied to wages growth not the opposite. If wages had grown more credit would have grown more.
IDIOT!!!
Quote:
 
You are determined to believe that credit is evil and what is more you actually believe that current levels are unstable/unsustainable.
IDIOT!!!
Quote:
 
You have a made up version of the world playing in your fantasies, where normal working people who seek to buy their own home or invest in property are engaging in some kind of evil crime against their children.
IDIOT!!!
Quote:
 
Plenty of people your age bought with Rudd's grants and they have done better in property than their parents ever did, I say fair play to them - they took a punt on a good future for our cities and it paid of handsomely for them. Doom and gloomers like Keen and yourself who were hoping to get a free run on all the bad luck of others got what was coming IMHO.
IDIOT!!!
Quote:
 
You say these young people were evil and they are robbing their own children, seriously can you still not see through this absolute nonsense. the people around you must be pulling their hair out with you stubbornness to stick with this doomster silliness.
IDIOT!!!
Edited by Jon Snow, 17 Dec 2016, 10:15 PM.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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Rufus
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Jon Snow
17 Dec 2016, 10:11 PM
I wasn't aware that commercial banks in Australia still issued their own notes.
Look, if you are trolling, well done, you got me good! But if you are serious, you should really stop making such a fool of yourself.
What you said was incorrect and misleading, you should want it to be corrected.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Jon Snow
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Rufus
18 Dec 2016, 12:13 AM
What you said was incorrect and misleading, you should want it to be corrected.
What I said was correct. Cash is a bearer bond, issued by the central bank. Being a sovereign issuer of AUD, in ALL of it's variants, the central bank is in control of the entire banking system.

The idea that you would withdraw cash because you didn't trust the banking system is still hilarious. That you would turn your house into a tinderbox by storing said cash in it is double hilarious. You could lose your entire savings and house at the same time in one big toasty BBQ :lol :lol You would be better off buying platinum and storing it in the garage.

Good thing it's nice and humid up your way. Less house fires, although it seems to do something to sensibilities.
Edited by Jon Snow, 18 Dec 2016, 12:31 AM.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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