- Don’t be a hypocrite David. You want home prices to crash so you can get a bargain
Hmmm … rather than respond in kind, I’ll let other readers make up their own mind. I’d rather have a serious economic discussion that continue with this childishness.
I would rather see exporters go downThat would be a tragedy far greater than a correction in the housing market.
That is the problem David. Your “serious” discussion is looking at one point of view only and discarding almost all others. A “serious” discussion looks at both sides. You continue to fail to do this.
As for being childish, what do you think bombarding someone with unwanted emails was? In any case, I do not see anything in my post as childish. I know why you want house prices to crash and the AUD to dive and I made the choice between what you want and exporters going down. Obviously, I prefer the latter.
Robert Bou-Hamdan
Mortgage AdviserThat is the problem David. Your “serious” discussion is looking at one point of view only and discarding almost all others. A “serious” discussion looks at both sides. You continue to fail to do this.If it is true of me, it is equally true of you.
Please tell me why you think a strong AUD and continued high house prices are a good thing. I’d much rather that than these continual accusations. A few days ago I was posting under aliases, now its email bombardment. What next?
David, I had to ask you on more than one occasion to stop emailing me. Please do not deny this. Regarding the alias, that was a guess and that person seems to have ceased posting. Go figure!
As for my views, there is no point. You keep regurgitating the same old articles over and over and ignore everyone elses comments. I have told you numerous times that I DON’T THINK CONTINUED HIGH HOUSE PRICES ARE A GOOD THING. I kist don’t agree with you about some sort of implosion and do not need to start 10 threads about the same thing.
I am really sick of repeating myself to you so I really think we should go our seperate ways. Please do not include me in any of your comments in the future on economic topics and I shall refrain from responding (if I can help myself).
Robert Bou-Hamdan
Mortgage AdviserI am really sick of repeating myself to you so I really think we should go our seperate waysPlease, lets agree to disagree and let this be the end of it.
it’s so exciting around here these days!
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Don’t worry John, it will be back to normal soon. You know I get booted every 1-2 months for about 3-4 months and my time is nearly up!!!
Robert Bou-Hamdan
Mortgage AdviserYou know I get booted every 1-2 monthsCan you get booted off this forum? I assumed it was unmoderated otherwise someone would have kicked me off weeks ago. [biggrin]
David, you need to speak about Derivex to get moderated and you need to hurt a sensitive person’s feelings to get booted.
Robert Bou-Hamdan
Mortgage AdviserWot’s a Derivex?[blink]
Nah, just kidding![biggrin] Let’s not, as I for one would miss Robert’s persistant rebuttal of all posts doom and gloom! With the media stirring up negative sentiment for property investment and the economy, I find it refreshing to hear such adamant oprimisim!
Cheers, F.[cowboy2]
I thought it was one of Steve’s mantras to do things ‘DIFFERENTLY’!!!!
I make it a point to be against the majority.
Robert Bou-Hamdan
Mortgage AdviserG’day,
It’s easy to get the boot from this forum.It happened to me. Took a year to come back. Can’t remember “the” comment.
I’ve been booted off this and other forums three times,that I can remember!A low dollar is the best possible situation this country could be in – provided it is not caused by our incompetence in the way we manage the economy.
When “our” dollar was low,it was low because the “yank” dollar was so strong(high).Australia had the strongest economy in the world.
For tourists,it was so cheap to holiday here.
Yanks and pommies doubled and tripled their currency on arrival.A depression!!!!!
Only a fool would want one. The thought scares the sh-t out of me.
Misery on the world.
How many of “us” lot would survive in a depression?
I can feel the hairs standing up on the back of my neck thinking about one.
LEAVE THAT SUBJECT WELL AND TRULY ALONE.[offtopic]
I can’t even make a joke about it.bruham.[chill]
“For tourists,it was so cheap to holiday here.
Yanks and pommies doubled and tripled their currency on arrival.”you guys keep going on about the glory days of how cheap it use to be for foreigners… seriously most americans cannot get their head around how they end up with more AUD than USD anyway. The only benefit it seemed to have was for the few that managed to find themselves here on their 2 week annual vacation. Gaining 10 or 20c on your dollar will not enourage anyone to jump on a 20 hour flight and fly to the other side of the world. Now if you start to think of kangaroos, ayers rock and koalas you may start getting closer to the heart of matters.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
I think the only reason the yanks come to Aus is because Qantas is the only commercial airline not to have planes dropping out of the sky and they have to fly via Sydney or Melbourne to get across the States!!!
Robert Bou-Hamdan
Mortgage Adviserseriously most americans cannot get their head around how they end up with more AUD than USD anywayOver the past 7 years I have dealt with thousands of American customers. Most Americans have no clue that other countries have different currencies, they cannot comprehend different timezones, and refuse point blank to believe that the seasons are reversed in the southern hemisphere.
It is without doubt the most insular and inward-looking society on earth. That said, if you were to ask Americans which country they’d most like to visit (if cost was not an issue) Australia would be miles ahead.
A depression!!!!!
Only a fool would want one. The thought scares the sh-t out of me.
Misery on the world.
How many of “us” lot would survive in a depression?No-one wants a depression, but depressions and severe recessions almost always follow an out-of-control boom. The Great Depression followed the Roaring 20s, the recession of the early nineties followed the “Greed is Good” 80s. That’s why I get so annoyed by people who cheerlead the property boom. Unless Howard and Costello have cured the business cycle there will be consequences for the recent period of irrational exuberance.
The role of central nanks and governments is to curb the excesses of a boom, and soften the impact of a bust. Problem is, while everything is going up people start believing the hype of the time, and that “this time its different”. In the late 90s Greenspan refused to call the Nasdaq bubble a bubble, and concurred with the “new paradigm” nonsense of the time. Consequently the bubble (and the subsequent bust) was bigger than it otherwise would have been.
Common sense tells you that property prices increasing by five times the rate of incomes is completely irrational, but people keep coming up with reasons why it is; immigration, population growth, low interest rates etc. This is today’s equivalent of “new paradigm” nonsense of the 90s.
Just an update on the Australian dollar story…
Greenback, metal prices cut down dollar
http://smh.com.au/news/Business/Greenback-metal-prices-cut-down-dollar/2005/05/16/1116095907830.htmlThe AUD is now below 76c for the first time in months. Here is a five day chart:
http://finance.yahoo.com/q/bc?s=AUDUSD=X&t=5d&l=on&z=l&q=l&c=Originally posted by dmichie:The main reason for the fall is the smaller than expected current account deficit in the US announced this week. It seems the weak USD of recent years is finally lifting America’s export performance and reducing their trade deficit.
Just adding my 2 cents here, personally I would not believe a word coming out of Washington, the Bush admin is populated by pathological liars as we have recently seen.
In light of that I read this article this morning…
http://www.rense.com/general65/tous.htm
…and to quote from it if you dont care to read the whole thing…
Last year, America suffered a $230 billion trade deficit with China. Right now, China is licking its chops as they sell us billions in goods but buy nothing from us in return. Why? Because we’ve lost our manufacturing base which means we have nothing to sell. In fact, China aims to surpass Japan in total manufacturing output by 2015. By that time, the United States won’t have anything to sell anyone in the world. How long do we keep spending money we don’t have?If America has nothing to sell how can they be lifting their export performance?
It’s an interesting read, full of very big US$ numbers and more importantly it’s written by an American.
Cheers, Nobleone. [biggrin]
“Making mistakes is just another another tool for learning.”
If America has nothing to sell how can they be lifting their export performance?Its not a case of ‘if’, they have lifted their export performance and their lower than expected current account deficit (CAD) is evidence of this.
This is because the US dollar is at 10 year lows, making their exporters much more competitive.
Australia, on the other hand has a CAD that is worse than the US (7.5% of GDP vs 6% of GDP) but we have a currency that is near 10 year highs.
I’m not saying the US is out of the woods. The US budget deficit is horrendous (Bush’s financial mis-management verges on the criminal) but don’t get the idea everything’s just dandy in Australia.
Those tax cuts we’re getting were funded out of booming tax reciepts from mining companies. That can’t last forever because our competitors are investing in the infrastructure required to increase production. Meanwhile, we happily suck in imports like there’s no tomorrow.
Last year, America suffered a $230 billion trade deficit with China. Right now, China is licking its chops as they sell us billions in goods but buy nothing from us in return. Why? Because we’ve lost our manufacturing base which means we have nothing to sell. In fact, China aims to surpass Japan in total manufacturing output by 2015. By that time, the United States won’t have anything to sell anyone in the world. How long do we keep spending money we don’t have?All of this applies equally (if not more so) to Australia. We’re just fortunate that we can dig stuff up out of the ground that the Chinese want, and they will pay good prices (for now)
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