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Chris Joye - Young Man in a Hurry: Profile; Profile: From 2003
Topic Started: 20 Feb 2011, 06:07 PM (9,310 Views)
BubbleBoy
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Olmule
20 Feb 2011, 11:36 PM
In Oz it is out of control.

There are soooo many "I made a million in property all due to my own brilliance" knobs out there nowadays. Plenty of creeps seriously believe that it was their own investment skills that allowed this. Try do it again in the next 10 years.

Not sure where it stems from, but I would guess that it is thanks to the rubbish that is on the idiot box - mostly from the US. Simple minds easily cave in to the pressure to be seen (or heard - lol) to have made it BIG.
I actually believe that narcissism comes from somehwere much deeper than that....

Narcissism is a very ugly thing. The lack of empathy, obsession with image, feeling of entitlement. All so ugly.

My name is based on a Seinfeld character, not on a belief of a housing bubble.
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Olmule
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BubbleBoy
20 Feb 2011, 11:46 PM
I actually believe that narcissism comes from somehwere much deeper than that....

Narcissism is a very ugly thing. The lack of empathy, obsession with image, feeling of entitlement. All so ugly.

Yes - I agree it is a primal type behaviour that is easily let out if opporunity presents. Encouragement by the media to let it out is why we are seeing it more and more - well that is what I have seen/read.

Freud believed that there is much, much ugliness just below the surface of man. It is kept in check by civilised society most of the time. There are plenty of good examples of the ugliness breaking out at the moment in Northern Africa when society has fallen apart - i.e. riots/looting/raping in Egypt.
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BubbleBoy
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Olmule
21 Feb 2011, 12:12 AM
Yes - I agree it is a primal type behaviour that is easily let out if opporunity presents. Encouragement by the media to let it out is why we are seeing it more and more - well that is what I have seen/read.

Freud believed that there is much, much ugliness just below the surface of man. It is kept in check by civilised society most of the time. There are plenty of good examples of the ugliness breaking out at the moment in Northern Africa when society has fallen apart - i.e. riots/looting/raping in Egypt.
I believe that whilst narcissism is to some extent present in most, it becoming a dominant personality trait is in many instances due to childhood traumas.

I'm sure there are those who will disagree with me and I'd rather not start a debate on child rearing methods or the causes of certain states. I guess it all depends on what psychology books one reads...
My name is based on a Seinfeld character, not on a belief of a housing bubble.
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Somersoft
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Somersoft Property Investment Forum
Joye gets more right than Steve Keen.
Somersoft
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ozz
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Somersoft
2 Jun 2011, 11:29 PM
Joye gets more right than Steve Keen.
In the past. Now he's just looking silly.
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Alright Jack
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This article raises many questions. Should the 'Australian dream' of property ownership be available to everyone, including low wage earners?

I think so, but I doubt this is the best way to achieve it.
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peter fraser
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pauk
20 Feb 2011, 07:00 PM
So what happened to his great ideas about affordable housing?
This really is an old article.

To answer your question, he did do something about that when he introduced EFM's (Equity Finance Mortgages)

Essentially they are a good idea, and if the banks in the USA had used them to soak up some of their borrowers debts, then this whole crisis in the USA could have been averted, or at least reduced in size.

I'm not sure whether you will remember Nassim Taleb telling the US authorities to turn debt into equity at the beginning of the crisis, but that is what he meant. If the banks had simply bought 30% of the house in exchange for debt instead of foreclosing and selling at a 30% discount, the borrower would still be in the house making payments they could afford, and the bank would still own an asset that they would eventually collect on.

EFM's could help people in lower economic circumstances buy a house, but that raises the question of whether that is really a good thing in the long term. We all know that some people just can't be saved from themselves.


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Rastus2
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peter fraser
4 Jun 2011, 10:00 PM
This really is an old article.

To answer your question, he did do something about that when he introduced EFM's (Equity Finance Mortgages)

Essentially they are a good idea, and if the banks in the USA had used them to soak up some of their borrowers debts, then this whole crisis in the USA could have been averted, or at least reduced in size.

I'm not sure whether you will remember Nassim Taleb telling the US authorities to turn debt into equity at the beginning of the crisis, but that is what he meant. If the banks had simply bought 30% of the house in exchange for debt instead of foreclosing and selling at a 30% discount, the borrower would still be in the house making payments they could afford, and the bank would still own an asset that they would eventually collect on.

EFM's could help people in lower economic circumstances buy a house, but that raises the question of whether that is really a good thing in the long term. We all know that some people just can't be saved from themselves.



Yes, all of these complex ideas of how to make houses more affordable are to be applauded..

Or..

Home prices could drop...

If it is not rapid (as in the US), it's far less painful.


Sometimes, the simple solutions are the best ones.

Truth is, all that introducing the concept of buying a fraction of a home is just putting off the problem for another generation and pretending the house prices can/should keep rising forever.

Why on earth should this silly game keep going using complex diluted ownership methods ?

The only reason I can think is to ensure that those who bought can never lose... and those that are too young to have bought yet are always behind...
seems wrong to me.
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exccer
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Quote:
 

http://www.blogger.com/profile/17179888415347516976

Christopher Joye

Posted Image

I first started blogging on ideas relating to economics, finance, investments and housing following an invitation from the leading financial website, Business Spectator. You can locate my old Business Spectator blog here, which has all my archived posts dating back to January 2009. I am actually now a "commentator" over at Biz Spec (ie, no longer a blogger). I have established this blog to provide an independent record of my posts and to enable more flexible, real-time filing outside of ordinary working hours. Please note that I may have an economic interest in any of the items discussed here. You should also be aware that these are my own personal views and do not represent the opinions of any other individual or institution. This material is not intended to provide, and should not be relied upon for, investment advice or recommendations. Readers are urged to seek professional advice before making any investments.

While this is a personal blog, professionally Chris is an executive director of Rismark International, having helped establish the business on the basis of a report he produced for the Australian Prime Minister's Home Ownership Task Force. In 2009 The Australian newspaper selected Chris as one of Australia’s top 10 “Emerging Leaders” in its economics category. In 2007 Chris was selected by The Bulletin magazine as one of Australia's "10 Smartest CEOs" and by BRW Magazine as one of "Australia's Top 10 Innovators". He previously worked for Goldman Sachs and the RBA. In 2008-09, the Australian Government invested $20 billion in a radical policy proposal developed by Chris to provide liquidity to Australia’s securitisation market. In February 2009, Chris was invited by the Rockefeller and MacArthur Foundations to present innovative policy solutions at the private Transforming America’s Housing Policy summit for Obama Administration officials. Chris served as a Director of The Menzies Research Centre from 2003-07. He has published widely on matters relating to financial economics and housing. He is a Research Affiliate with the Centre for Ideas and The Economy at Melbourne Uni.
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earthsta
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exccer
19 Oct 2011, 12:26 PM

Posted Image




Thats a head that only a mother could love

exccer
19 Oct 2011, 12:26 PM


While this is a personal blog, professionally Chris is an executive director of Rismark International, having helped establish the business on the basis of a report he produced for the Australian Prime Minister's Home Ownership Task Force. In 2009 The Australian newspaper selected Chris as one of Australia’s top 10 “Emerging Leaders” in its economics category. In 2007 Chris was selected by The Bulletin magazine as one of Australia's "10 Smartest CEOs" and by BRW Magazine as one of "Australia's Top 10 Innovators". He previously worked for Goldman Sachs and the RBA. In 2008-09, the Australian Government invested $20 billion in a radical policy proposal developed by Chris to provide liquidity to Australia’s securitisation market. In February 2009, Chris was invited by the Rockefeller and MacArthur Foundations to present innovative policy solutions at the private Transforming America’s Housing Policy summit for Obama Administration officials. Chris served as a Director of The Menzies Research Centre from 2003-07. He has published widely on matters relating to financial economics and housing. He is a Research Affiliate with the Centre for Ideas and The Economy at Melbourne Uni.


Egotistical, self opinionated, narcissistic twat
Edited by earthsta, 19 Oct 2011, 01:26 PM.
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