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The high cost of snake oil
Topic Started: 7 Jan 2017, 10:18 AM (10,293 Views)
Terry
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skamy
9 Jan 2017, 06:24 PM
Ha ha he is more popular at the BBQs of home owners that at the BBQs of the legions of eejits like yourself who listened to his silly rubbish. He is despised by all those people who could have bought in great suburbs with big grants in 2010 who are now priced out to the outer boondocks because they believed in Keens great money making scheme of selling your home to rebuy at a 40% discount next week.

Keen's claims were always ludicrous, news corp just adopted him as a convenient bogey man to scare the masses. Looking back even someone as daft as you can see this.
He'd good as a effigy at the puppeteer's Guy Fawkes BBQ. All the puppets can be placed on top of the box for quick skits to an entertained audience.
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Rufus
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Terry
9 Jan 2017, 06:31 PM
OK, so you're saying if Steve Keen understood the world like a 60 Mins journo, he would be a better economist? How about econometrics? Does it have any value?
Keen doesn't care about loan quality.
To him it's irrelevant.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Chris
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skamy
9 Jan 2017, 06:18 PM
Seriously, what kind of an idiot claims that money and wealth gained by investing in property is any less real than money invested elsewhere? Can you still not see through this fallacy?

Wake up to yourself. We are on your side unlike the wealth sucking doomsters you slavishly follow.

Another fine example of you not understanding anything I have said. Pete understood it and so did Shadow, both acknowledged I was right but you read my posts and come worse for wear.

Go back and read the thread in its entirety, you have missed the point and are furiously typing up a meaningless keyboard war because of your inability to comprehend basic concepts.

Stop and read, don't list again until you have.
Edited by Chris, 9 Jan 2017, 06:54 PM.
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Terry
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Rufus
9 Jan 2017, 06:51 PM
Keen doesn't care about loan quality.
To him it's irrelevant.
How would you quantify loan quality and why is it relevant to econometric models based around models based on debt? If you're saying debt growth or volume is irrelevant because debt quality is a key driver, how do you empirically prove it? By reading an opinion in the newspaper?
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b_b
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Rufus
9 Jan 2017, 06:51 PM
Keen doesn't care about loan quality.
To him it's irrelevant.
Yes. The assumption is greater gross debt to income (or GDP) means loan quality must be deteriorating (on average). It is a reasonable assumption - but an assumption nonetheless.

It is something he should highlight - but that wouldn't make a good news story for the masses. Lucky no-one here falls for it....... :re:
(S – I) + (T - G) + (M - X) = 0
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Khaderbhai
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Wealthy Suburbanite

Terry
9 Jan 2017, 07:11 PM
econometric models based around models based on debt
Models based on models Roddy? You're taking waffle to the next level.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Terry
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Rufus
9 Jan 2017, 06:51 PM
Keen doesn't care about loan quality.<br />To him it's irrelevant.
How would you quantify loan quality and why is it relevant to econometric models based around models based on debt? If you're saying debt growth or volume is irrelevant because debt quality is a key driver, how do you empirically prove it? By reading an opinion in the newspaper?
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Khaderbhai
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Wealthy Suburbanite

Terry
9 Jan 2017, 07:26 PM
econometric models based around models based on debt
Models based on models Roddy? You're taking waffle to the deja vu level.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Terry
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b_b
9 Jan 2017, 07:17 PM
Yes. The assumption is greater gross debt to income (or GDP) means loan quality must be deteriorating (on average). It is a reasonable assumption - but an assumption nonetheless.

It is something he should highlight - but that wouldn't make a good news story for the masses. Lucky no-one here falls for it....... :re:
All debt is usually good debt when everyone's making a motza. When bubble's pop, that's when debt is not as sexy as it seems.
Khaderbhai
9 Jan 2017, 07:28 PM
Models based on models Roddy? You're taking waffle to the deja vu level.
That's right mother cat.

econometric models based around models based on debt

One is a universal type of model and one is an example.
Edited by Terry, 9 Jan 2017, 07:30 PM.
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Trollie
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Terry
9 Jan 2017, 07:28 PM
All debt is usually good debt when everyone's making a motza. When bubble's pop, that's when debt is not as sexy as it seems.

Why will the bubble "pop" terry? Does debt just pop on it's own, or maybe loan quality has something to do with it?

Funny that.
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