Worse than 1929 depression

See the 6min 24s mark...now they can freeze your super fund...didnt know that did you....

 

Interesting to see that the real estate industry is now using a rather quaint phrase to describe
the decline in real estate prices. The decline is now called "vendor discounting"
What a crock...why dont they call it as it is...a collapse in prices which compels sellers
to reduce their demands.
Of course real estate agents will still inflate their CMAs (comparable market analysis) and ensure
that this includes the prices at the top of the range, to ensure that their commission is more juicy.
Of course the CMAs will not be strictly legitimate as a genuine CMA is supposed to be a cross section
of comparable houses...not those that simply suit the agent...
Of course when you have such stalwarts as Bronwyn Bishop saying that she doesnt want prices to go down...but refuses to therefore admit that she wants them to go up...you start to wonder just why
house prices have kept going up until recently.....
Could it be that all the elites have cashed in on negative gearing and have numerous investment
properties that they want to sell at a profit.
In other words, real estate prices have to be kept high to ensure the oligarchs keep rolling in cash, whilst the peons struggle to make a quid.
Hence the phrase "the rich get richer and the poor get poorer".....(insert here "politicians encourage chinese investors"....)
No wonder France is in chaos.....

 

https://www.businessinsider.com.au/...firm-debt-default-since-1998-2019-2?r=US&IR=T

China's economy is in bad shape, and whatever flu they have will be coming our way, brace yourselves... especially if you have a lot of debt.

 

https://www.zerohedge.com/news/2019...sie-pmi-plunges-record-low-ahead-rba-decision
“Across the world, evidence is mounting that the world is drenched in debt and that more and more people, companies and governments are struggling to service these debts given slowing economic growth,” he said.

“The IMF rang the alarm bells last week when it stated that Australia faced significant macrofinancial risks resulting from high property prices and household debt levels. These risks make Australia extremely vulnerable to a catastrophic economic crisis.

“The economy will no doubt continue to worsen in 2019 and 2020. Many Australians will see their so-called wealth evaporate and many will suffer significant financial losses. The day of reckoning resulting from the biggest debt bubble in Australian history is fast approaching.”

And people wonder why I whinge...
I blame the politicians and the RBA for sitting on their hands for 20 years...doing fuk all, having no foresight..being asleep at the wheel.....
It wasnt that long ago..maybe a year or so that bearish articles like this were as scarce as hens teeth....now they're everywhere...and you watch...the RBA will come out today and leave interest rates as they are and issue some cockamamia statement that basically says "she'll be right mate..everythings cool...we're doing a fantastic job at running Australias economy...."
When its all said and done, Australia is no-where in world economies...it doesnt go America, China, UK, France, Germany, and then Australia.....we are no-where..and yet we make headlines on Zero Hedge.......
We are fuked...totally fuked....

 

https://www.rba.gov.au/speeches/2019/sp-gov-2019-03-06.html

What a fukin disgrace this man is....he's a jibberer..I remember Benanke saying three months before
the sub prime disaster in the US...."everythings fine...we've got it all under control..."
Lowe is no better......
Absolute bullshit speech........
All he's doing is dumbing down the masses by waffling bullshit.....
He should have put a sign up on the RBA's door 27 months ago..."gone fishing...come back in 27 months..."
They sit up there in their ivory towers and do fuk all.......
He speaks as though he's addressing a bunch of Year 12's out at Richmond...ffs...
And some docile people on this pathetic excuse for a sub forum spend all their time taking pot shots
at me and babbling on about nothing instead of opening their eyes to reality....pft....

 

I give up...
I have just read an article on Yahoo Finance where the writer virtually pleads with everyone
to go out and buy a house NOW.....not an investment property...a house to live in.....the article explicitly insists that the time to buy is NOW..and then qualifies the advice by saying "or in the next twelve months"
I dont believe that this advice is coming from an expert in the field......
I just dont believe it......

 

It's the real estate industry B... and you'll find it's not just real estate, Chinese economy, coal etc sponsored fake news to try and turn the market.

 

Yes, I can understand where youre coming from regarding fake news....
However...
The writer is a leading economist, financial speaker and senior economic adviser to the Prime Minister.
Therefore, cutting through the red tape and the bs...he is an adviser..a financial adviser...
And here he is advising buyers that the time to buy is NOW.
In other words, his advice is that Australia has seen the bottom of the real estate slump.
He is advising that, contrary to everything else we read, the only way prices will go is up....
I think thats poor advice, even if it is fake news...its not really news..to the unwashed
millions its ADVICE.....
One question...
Why would such a leading adviser risk his credibility by being part of fake news, when everyone else
is in disagreement....
Even our esteemed RBA Governor, in his bs speech recently, admitted that he doesnt know if interest rates are going to go up or down...
If that confusion exists in the halls of the elite, then why should we believe a leading financial adviser
and race out and buy a house NOW.....

 

He's talking on behalf of the government who have built an economy based on debt and property values. It is what was predicted when we went off the gold standard.
Our economy is based not on the wealth of Australia but on the value of all the debts ... Paid off. At the moment ,we are a long way from that point.


https://www.abs.gov.au/ausstats/abs...t and Over-indebtedness (Feature Article)~101
So as I have said ,the money doesn't exist until the debts are paid and at the moment household debt stands at about $250 000 per household.

Now multiply that out to figure out where all the money is.

 

Well if he's not part of a campaign to find the bottom of the housing market he's an idiot. There's no indication whatsoever this is going to bounce... likely he has real estate he needs to get rid of.

Yes agreed.... bs speech by the RBA

 

Our esteemed financial adviser has been a "bull" for years.....
Id certainly hate to be a young couple looking for their first home, and seeking professional
advice these days.....who do you believe...where do you go for unbiased advice....

 

https://www.zerohedge.com/news/2019...ebt-slaves-americans-wimp-out-just-11th-place
Damn...we only got silver again....up from 56% in 1998 to 120% in 2019...
Only took 20 years to almost double....we're going gangbusters....

 

We're going the American way... we are not the lucky country anymore

Australia at risk of US-style inequality and dead end jobs, warns ACTU
https://www.abc.net.au/news/2019-03-05/actu-warning-living-standards-inequality/10871178

Governments look after big companies who, in an effort to compete internationally, squeeze blood and sweat out of domestic workers for a nickel and a dime. Add the high cost of living and voila vvvv

 

In ones quest for information, it is interesting to note that it seems that our government is obviously being controlled by outside powers and helps somewhat to clarify why our country is becoming nearer to bankruptcy and where a lot of our country's money is disappearing to, apart from the massive amounts that are being paid out to past and present politicians.
In a letter to the Morning Bulletin Rockhampton Sat 27 Feb 2015 written by N.W.H.Timms he gave this summary on the foreign aid being paid out by the Australian tax payer . Following is the reason why we lack adequate funding for infrastructure in Australia...
FOREIGN AID... Australia has given $359 Million to Congo, $397 Million to Eygypt, $981 Million to Ethiopia, $1.4 Billion to Haiti, $351 Million to Hamas, $1.8 Billion to Iraq, $463 Million to Jorden, $304 Million to Kazakhstan ,$816 Million to Kenya, $1.45 Billion to Lybia, $622 Million to Mexico, $404 Million to Mozambique, $456 Million to Nigeria, $2 Billion to Pakistan, $698 Million to Russia, $566 Million to South Africa, $698 million to Senegal, $870 Million to Sudan, $ 554 million to Tanzania, $451 Million to Uganda, $331 Million to Zambia, $650 Million to Indonesia, and $500 million to New Guinea, so apart from the massive pay out to our totally useless politicians and thanks to our politicians who are obviously subservient to the UN/IMF/World Bank/China Infrastructure Bank, Australian tax payers have become an endless financial supply for all these bludging countries.
Athough this is four years old, nothing will have changed, I imagine...
And of course, when politicians receive pensions which are not means tested, together with their
after politics salary (a la Joe Hockey and others) it beggars belief as to how Australia has got ANY money.
Great to see how Joe "lives within his means" as he often told us to do...
Of course we peons have to remain under the jackboot of our political oligarchs and elites....
Oh wait...how much of the "farm" have we sold to China...now where can I get that information...

 

It's the Americans, we're colonised, our Politicians are puppets. I say we take all that money ^^^^ and build a private army to keep Australia safe

 

Australia is going broke...I cant see how increasing wages is going to help...
Shops are closing, businesses are going bankrupt...Bunnings will be next...
If a business is considering closing down, it would be moronic for the proprietor
to give his staff more money...McManus is a fool....Morrison is worse...
Can I vote for the janitor......

 

So long as theres a woman in charge...

 

They need to stop the millions in bonuses to CEO's, in fact instead of doing that in the first place they could have paid workers a better wage when things were going well. But no... they had to feed the inequality beast

 

Hey I'm sorta serious... we build a rent a army, hire them out and build our arsenal to "don't **** with us" level. I think we're going to have to elect our own Trump to get something like that done

 

The rich get richer...and the poor get poorer..nothing has changed since the middle ages....
The King needs new clothes...increase the taxes.....

 

Naahh...Id have Tommy Robinson in charge....

 

He's British... and in jail... we've got to aim a bit higher than that

 

How bout Rodney Rude....

 

Maybe Steve Hughes....he wont offend anyone....not like Milo....

 

thanks That was funny