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A Storm is Brewing for the Australian Economy and Housing Bubble; Ignore the thunder, get washed away in the rain. Troubling combination of factors that cannot be ignored.
Topic Started: 23 Jan 2013, 05:47 AM (23,225 Views)
Rufus
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Rastus2
8 Nov 2016, 07:22 AM
While we shared the same currency, I doubt this was the major reason Australia suffered in previous depressions.

There were many other countries who did not use the UK pound and suffered equally.

Our move to break many ties with the UK will not save us from a global depression, if one happens... indeed, our move towards Asian ties makes us vulnerable to any flucuations there rather than the UK.
WE used our own currency in the 1930's depression but we used the British Pound in the 1892 depression. We also weren't a sovereign nation and had zero control over our currency, and that certainly would have been a factor in the severity of the outcome of the 1892 depression.

We fixed our pound to the UK Pound in the 30's which limited the benefits of controlling our own currency, and our government was trying to repay public debt at the time, which is the worst thing we could have done. Nevertheless we had control over our currency and that makes a big difference in our ability to fight depressions.

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Take risks - if you win you will become wealthy, if you lose you will become wise
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Terry
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Rufus
8 Nov 2016, 08:04 AM
WE used our own currency in the 1930's depression but we used the British Pound in the 1892 depression. We also weren't a sovereign nation and had zero control over our currency, and that certainly would have been a factor in the severity of the outcome of the 1892 depression.

We fixed our pound to the UK Pound in the 30's which limited the benefits of controlling our own currency, and our government was trying to repay public debt at the time, which is the worst thing we could have done. Nevertheless we had control over our currency and that makes a big difference in our ability to fight depressions.

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Which countries don't have "control" over their own currency? Japan? Why is it that these magic potions only work within the Anglosphere?
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Rufus
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Terry
8 Nov 2016, 08:45 AM
Which countries don't have "control" over their own currency? Japan? Why is it that these magic potions only work within the Anglosphere?
Which countries don't?
To name but a few -

Greece,
Spain,
Portugal,
Italy,

Japan has control over it's currency, which is why they are able to use MP to alleviate their economic woes.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Simon_S
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Rufus
8 Nov 2016, 08:04 AM
WE used our own currency in the 1930's depression but we used the British Pound in the 1892 depression. We also weren't a sovereign nation and had zero control over our currency, and that certainly would have been a factor in the severity of the outcome of the 1892 depression.

Nevertheless we had control over our currency and that makes a big difference in our ability to fight depressions.

And yet we had Depressions irrespective of currency control.......

Great.......Now we have concluded it had nothing to do with the Cause of the Depressions in the 1st place.
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Tiger Lily
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Terry
8 Nov 2016, 08:45 AM
Which countries don't have "control" over their own currency? Japan?
japan ? bwahahahahaha your such a doofus :D
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Rufus
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Simon_S
8 Nov 2016, 09:07 AM
And yet we had Depressions irrespective of currency control.......

Great.......Now we have concluded it had nothing to do with the Cause of the Depressions in the 1st place.
No, we had depressions well before we understood how to exercise control over the economy, and the 1892 depression occurred before nations had central banks who exercise monetary policy.

Your inability to understand and appreciate these points means you will continue to flounder in life.
You will bounce from one financial disaster to the next.

How does it feel?
Take risks - if you win you will become wealthy, if you lose you will become wise
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Simon_S
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Quote:
 
WE used our own currency in the 1930's depression but we used the British Pound in the 1892 depression
[/big][/b]

You stated here clearly that we had 2 different currency positions did you not?
Rufus
8 Nov 2016, 09:16 AM
Your inability to understand and appreciate these points means you will continue to flounder in life.
You will bounce from one financial disaster to the next.

How does it feel?
Quote:
 
Your inability to understand and appreciate these points means you will continue to flounder in life.
You will bounce from one financial disaster to the next.


Yes its all about me Rufus and not about the Facts.......Guess that's all you can attack really.

How does it feel you ask?

Feels great to know whats coming and Profit from it.

Edited by Simon_S, 8 Nov 2016, 09:44 AM.
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Terry
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Rufus
8 Nov 2016, 09:16 AM
No, we had depressions well before we understood how to exercise control over the economy, and the 1892 depression occurred before nations had central banks who exercise monetary policy.

Your inability to understand and appreciate these points means you will continue to flounder in life.
You will bounce from one financial disaster to the next.

How does it feel?
So you're saying that depression-like states are mitigated by the global monetary system, particularly if you follow the Anglo model instigated by the Kiwis in the mid 80s.

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Rufus
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Terry
8 Nov 2016, 09:44 AM
So you're saying that depression-like states are mitigated by the global monetary system, particularly if you follow the Anglo model instigated by the Kiwis in the mid 80s.
No I didn't say that.

Do you read what others here post?
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herbie
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https://www.sterlingcurrency.com.au/pre-federation-banknotes

http://banknotes.rba.gov.au/australias-banknotes/history/

http://www.dailytelegraph.com.au/business/jessica-irvine/happy-30th-birthday-to-our-floating-aussie-dollar/story-fnj45kvd-1226763657590

'N I don't even know nuthin' about this shit ...
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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