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Steve Keen proves Australian Housing Bubble Collapse is following JAPAN slow bleed exactly!; Japan's Property Prices Fall for 21st Straight year
Topic Started: 2 Aug 2012, 02:54 PM (14,658 Views)
mango66
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Strindberg
3 Aug 2012, 12:10 AM
Yep.
Posted Image
This graph refers to a town out west called bumfuck where houses cost $25000 and everyone who lives there works in the mines.
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peter fraser
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Ex BP Golly
4 Aug 2012, 07:26 PM
Sydneyite
4 Aug 2012, 03:31 PM
He is NOT Head of Economics at UWS - he is an Associate Professor; a lecturer, at UWS, which by anyones measure is hardly the most prestigious economics school in Australia...... He started his academic career quite late in life so don't mistake is age for his professional seniority.

Ageist and institutionally elitist :lol

I'm going to have to start taking notes!
I can't recall where I read it, but I'm pretty sure that Steve is now a full Professor, and no longer an associate professor.

Any expressed market opinion is my own and is not to be taken as financial advice
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Ex BP Golly
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peter fraser
6 Aug 2012, 09:37 AM
I can't recall where I read it, but I'm pretty sure that Steve is now a full Professor, and no longer an associate professor.
Seems you heard right, Professor at UWS School of Business.

http://pubapps.uws.edu.au/expert/expert_details.php?eid=3

WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Dexter
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peter fraser
6 Aug 2012, 09:37 AM
I can't recall where I read it, but I'm pretty sure that Steve is now a full Professor, and no longer an associate professor.
I think you are right. Switzer mentioned that he was now a professor when interviewing him a week or two ago. Doesn't change anything. He has got most of his predictions wrong.
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peter fraser
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Mahamed
2 Aug 2012, 02:54 PM
Suck it up stringburd and swallow , Steve Keen blows your spruiker theories out of the water, Aussie house prices down 9%, smack in line with JAPAN crash.

And we know how that ended up, face it bulls, your toast ! I strongly predict there'll be no bulls left on this forum come the end of the year..................


Quote:
 
Dan Birke
August 2, 2012 at 6:02 pm | #
G’day Steve , first off, gotta say great article and that should shut up the bulls for a while. CJs gloating is very annoying when prices get up like this !

One of the bulls on APF posted some data from Japan showing the fall from peak in Japan was 33% in two years, not the 8.9% you show !

Japan fall 33% from peak in 2 years

I’m sure your figure is probably the right one, yout 8.9% seems more realistic for the Japan bubble burst than 33%, but could you tell me where you got your 8.9% from so I can prove these bulls wrong ?

Thanks mate !


Quote:
 
Steve Keen
August 3, 2012 at 12:19 am | #
I saw that 33% fall claim to and it sounds to me like they confused the stock market (or Tokyo alone) with Japanese house prices. I’ll link to my data tomorrow–post operation sleep time now.


Quote:
 
Peak Debt
August 3, 2012 at 12:39 am | #
This chart from Bank of Japan says Japan house prices were down 30% after two years, but it’s probably wrong.

http://www.marketoracle.co.uk/images/2008/japan-house-prices–nov08.gif


QUESTION FOR MAHAMMED.

Did Steve ever get back to you with a link to his graph?
Edited by peter fraser, 7 Aug 2012, 08:19 AM.
Any expressed market opinion is my own and is not to be taken as financial advice
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Starlightdiscs
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Shadow
2 Aug 2012, 03:35 PM


9% in real terms. Less than 5% in nominal terms. Steve seems very keen to frame the discussion in real terms these days.

Back when he said prices would crash 40% and he made his losing bet with Rory Robertson, he was always talking in nominal terms.

I wonder what new country Steve will discover for us to be 'following' if house prices rise again next quarter?
Quick buy at the dip in the market then? Its a steal. Mr s keen, you are a legend. You said a 40% crash, could be a bt more. Where are all the bulls buying property. Nowhereland.
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HSRboy
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Dexter
6 Aug 2012, 10:10 AM
Doesn't change anything. Steve Keen has got most of his predictions wrong.
Yet the media keeps asking him for his opinion. :re:

Forbes has concluded that he was the most accurate forecaster of the Global Recession of 2007.
Barnaby Joyce - Indians owning Coal mines in AUS is good, Chinese owning a cotton farm in AUS is bad

Aussie Home Sales at 11-year low: http://online.wsj.com/article_email/SB10001424052702304459804577282401287187084-lMyQjAxMTAyMDEwNjExNDYyWj.html
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Dexter
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HSRboy
8 Aug 2012, 06:15 AM
Yet the media keeps asking him for his opinion. :re:

Forbes has concluded that he was the most accurate forecaster of the Global Recession of 2007.
Media ask a lot of people for opinions. As for him being accurate he got Australian house price predictions completely wrong.
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Mahamed
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Morbidly Obese

peter fraser
7 Aug 2012, 08:17 AM
QUESTION FOR MAHAMMED.

Did Steve ever get back to you with a link to his graph?
No mate, the blokes just had surgery , lets give him time to recuperate
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stinkbug
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HSRboy
8 Aug 2012, 06:15 AM
Yet the media keeps asking him for his opinion. :re:

Because the shock value improves markete penetration (even though most such consumers are uneducated idiots), and this leads to greater advertising revenue.

Having a person with defendable credibility (he's a professer! at a university!) who is willing to make outlandish statements is a commercial media producer's wet dream.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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