Potential Big GFC Discussion Thread

[MAD]

Originally Posted by AMGC63

I agree reckless spending with credit is stupid, always has been, always will, its not a new philosophy, you only buy what you can afford to repay quickly.

Unfortunately that's pretty much what has propped up this country, especially retail.

Now people are 'smartening' up paying off their debts, keeping their plasma TV for longer, not buying a stainless fridge just because it looks cool and thinking twice about a PS3.

When the economy relies on 'sheep spending', then it will suffer the consequences of 'sheep saving'.

[Chopped]

These help in staying "positive" >



With these on, I see no future problems....everything is just fine......

[BENT_8]

Originally Posted by dave289

Well is was the best thread in the forum , you could see that by the amount of traffic going through there. And because my comments did not fit soembodies agenda , it has now been moved to where the majority cant see it.

The house thread ,while becoming heated at times ,was always settled down by members rather than mods becuase everyone knew it was in evrybodies best intersts to keep it going . Unfortunately somebody thought it better to keep evryone in the dark rather than follow it as closely as we were .

The house thread still goes on behind the scenes by way of pm , the only thing is nobody else gets to see it , so nobody else gets to benefit from it . I have thought about asking it to be returned to where it should be , but we still have a few on the other side that refuse to accept what is happening and will bring it down again. Maybe if we wait till the start of next year there will then be no more aguments as by then evryone shoud be fully aware of the situation . I think this thread here has enabled us to expand on the whole global scene which has opened many peoples eyes as to the state of things . So it has been a good follow on and enabled people to see the big picture . Anyway I'll leave it at that for now.

Whilst i totally agree with what your saying, i believe this 'awakening' has already arrived but rather than admitting they were wrong and accepting the state of play, they did their best to have the thread removed so as to hide the fact.
People need to stop blaming banks, regulators, governments, employers, the price of fuel and any other scapegoats that they can think of and accept the fact that this country has gorged itself on cheap credit and a must have now mindset, and that the person to blame is staring at them in the mirror.

[flappist]

No actually the last thread was closed because too many were fighting over how they were the most clever and anyone who did not agree was a heretic.

If this one goes the same way it will also be closed.

One last point.

The next inference, veiled or otherwise, of bias or agenda pushing by the administration team will be met punitive action.

[trippytaka]

It's hard to admit you're wrong. I had to grow up when I was retrenched in the GFC (round one). $40k of bad debt (credit cards, cars, blah blah). It took that shock to make me realise how stupid I had been.

Lesson learned I won't make that mistake again!

[BENT_8]

Originally Posted by flappist

No actually the last thread was closed because too many were fighting over how they were the most clever and anyone who did not agree was a heretic.

If this one goes the same way it will also be closed.

One last point.

The next inference, veiled or otherwise, of bias or agenda pushing by the administration team will be met punitive action.

Im not implying that this was a decision based on bias or agenda by any admin.
It was blatently clear that other members were trying to heat the argument up to get it locked, many times pleas were given by contributing members for calm and many times it was succesful.
Unfortunatly it was easier to take the thread away from the whole forum community rather than reprimand the handful of guilty parties.
Whilst the member claiming outright victory in the other thread may have gloated a little excessively, maybe even a little premature, the bashings anyone who was not on the 'property bandwagon' copped earlier on in the thread didnt help.

Oh btw, congratulations on your elevation to Moderator status.

[irish2]

Originally Posted by dave289

You have it wrong, think what would happen in the exterme , if interest rates were dropped to 2% tomorrow ,evrybody would have more money to spend on other things beside their mortgage and bills , they would then be able to spend it on our economy ,which would send inflation higher and bring our dollar upwards.

Then if you raise rates to 10% ,evrybody now has less money to spend on the economy beacuse it will all go to the mortgage and bills with nothing left over to spend on the economy , which would send inflation backwards ,which would lower our dollar.

I think you need to do some research. Your powers of deduction have failed miserably here. People invest in our currency when our interest rates are higher than their own nations. The greater the difference the more investing. If the interest rate was lowered the dollar would drop overnight.

[z80]

Originally Posted by irish2

People invest in our currency when our interest rates are higher than their own nations. The greater the difference the more investing. If the interest rate was lowered the dollar would drop overnight.

Absolutely 100% correct.

Why would anyone in their right mind buy aussie dollars if our interest rates weren't so high in relation to the rest of the world?

With no manufacturing left, an over reliance on supplying just one customer...China....then a housing market over-stimulated economy that is completely out of step with global reality...

It all adds up to a long overdue national attitude re-adjustment just teetering on the edge of a big bucket of poo.

We'll soon be swimming in it....or drowning depending on how well one prepares for it.

[pottery beige]

meh....... i just spend..... spend.....spend....... if i drop dead tomora...... oh well........

[Bent8]

Everyone has their opinion here and I believe it's only fair for them to share it with others...

When you look at the facts and see what's happening in your local area, you either tough it out and hope for the best, like AMGC63 is saying, or you start preparing for the inevitable while warning as many people as you can.

Yes, some sectors of the economy are improving as RBA Governor Glenn Stevens has said but at what cost?...

Did we just witness another engineered global transfer (theft) of wealth from whats left of the middle class to the ultra-wealthy?...is there a conspiracy to destroy the lower/middle class society so as to better control the masses?...all these questions will be answered very soon and for some, it will be shocking to witness!

The storm is coming people, like it nor not, the people that run the world economy DO NOT have your best interests at heart.

I'll say it again, the global monetary system is rigged to collapse, and the solution will not be pretty.

And contrary to popular belief, ignorance is NOT bliss !!

If you find this outlook disturbing or depressing, there is something YOU can do about it...

Start warning the people you love, get the truth out there for everyone to see anyway you can !!

And of course, have a nice day

[Gobes32]

My grandfather always taught me to never talk about money, religion and politics. These threads just reinforce those teachings..........

[GT0132]

Originally Posted by Gobes32

My grandfather always taught me to never talk about money, religion and politics. These threads just reinforce those teachings..........

what about sex ?

[mr smith]

Originally Posted by trippytaka

Lemmings... I would say that anyone who jumped on the property band wagon because they were told that only ever rises is a lemming. Anyone who dipped freely into the mortgage to buy the latest and greatest appliance, while steadily eroding the hard-earned equity is a Lemming.

Using educated rationale to make an informed decision about what to do with your finances is hardly the action of a lemming.

Spot on, I think we know who the real lemmings are, it is fun watching them squirm now the tide is going out and they have no pants on.

[AU101]

Originally Posted by BENT_8

Whilst i totally agree with what your saying, i believe this 'awakening' has already arrived but rather than admitting they were wrong and accepting the state of play, they did their best to have the thread removed so as to hide the fact.
People need to stop blaming banks, regulators, governments, employers, the price of fuel and any other scapegoats that they can think of and accept the fact that this country has gorged itself on cheap credit and a must have now mindset, and that the person to blame is staring at them in the mirror.

I also agree the old thread ( housing ) was a great thread, It was great seeing both sides of the argument both with pros and cons. I love my Fords, and I love seeing fellow ford lovers views on other topics. It should be reinstated to continue the topic, what's the point of having " The Bar " if we can't talk about other topics than cars? The thread was the most popular non car thread here, well over 100,000 views!!

The thread opened many people eyes as to the state of things ( large over inflation ) and not to buy a house simply because that's what you do in life, or buy now before the price goes up etc, no matter the price or consequences. If anything it actually saved people from getting in over their heads at the height of the property market, saved them 30 yrs of debt and having no life, just to put a roof over their heads, saved them from going into negative equity as we are seeing alot of now

The thread was shut by mods who have a vested interest in the property market, who were sick of hearing about FALLING property prices and didn't like people spreading the bad news which just adds fuel to a rampant fire. Its just like the government, they tell Australia that we are fine, its all good, when in fact it's very bad.

They said the thread was shut due to all the bickering, we'll thats what happens in forums people have different views which causes debate, which makes it interesting! Also because " Being a motoring forum it isn't needed right now " - Well why don't they go and shut down all the other non car threads???

[mr smith]

Originally Posted by AU101

I also agree the old thread ( housing ) was a great thread, It was great seeing both sides of the argument both with pros and cons. I love my Fords, and I love seeing fellow ford lovers views on other topics. It should be reinstated to continue the topic, what's the point of having " The Bar " if we can't talk about other topics than cars? The thread was the most popular non car thread here, well over 100,000 views!!

The thread opened many people eyes as to the state of things ( large over inflation ) and not to buy a house simply because that's what you do in life, or buy now before the price goes up etc, no matter the price or consequences. If anything it actually saved people from getting in over their heads at the height of the property market, saved them 30 yrs of debt and having no life, just to put a roof over their heads, saved them from going into negative equity as we are seeing alot of now

The thread was shut by mods who have a vested interest in the property market, who were sick of hearing about FALLING property prices and didn't like people spreading the bad news which just adds fuel to a rampant fire. Its just like the government, they tell Australia that we are fine, its all good, when in fact it's very bad.

They said the thread was shut due to all the bickering, we'll thats what happens in forums people have different views which causes debate, which makes it interesting! Also because " Being a motoring forum it isn't needed right now " - Well why don't they go and shut down all the other non car threads???

The fight to keep property afloat comes from many avenues as has been witnessed on this forum, just makes it that much sweeter when it falls.

[GasoLane]

Originally Posted by AU101

The thread was the most popular non car thread here, well over 100,000 views!

The thread opened many people eyes as to the state of things ( large over inflation ) and not to buy a house simply because that's what you do in life, or buy now before the price goes up etc, no matter the price or consequences. If anything it actually saved people from getting in over their heads at the height of the property market, saved them 30 yrs of debt and having no life, just to put a roof over their heads, saved them from going into negative equity as we are seeing alot of now

It was only the most popular thread because 'The Truck Thread' (200,000+ views) now has it's own forum.

I'd like to think that AFF members are savvy enough to read market reports and not rely on a very few comments here.
And I doubt that half a dozen people arguing about what to do next with their money could influence anybody here

Originally Posted by AU101

The thread was shut by mods who have a vested interest in the property market, who were sick of hearing about FALLING property prices and didn't like people spreading the bad news which just adds fuel to a rampant fire

Do you REALLY believe that?

Originally Posted by AU101

They said the thread was shut due to all the bickering, we'll thats what happens in forums people have different views which causes debate, which makes it interesting! Also because " Being a motoring forum it isn't needed right now " - Well why don't they go and shut down all the other non car threads???

There is a big difference between healthy debating and the 'I'm smarter with my money than you' type bickering that was happening.
A lot of other non car threads have been closed for similar reasons.

[BA GT-HO]

Originally Posted by mr smith

The fight to keep property afloat comes from many avenues as has been witnessed on this forum, just makes it that much sweeter when it falls.

Comments like this got the last thread shutdown.

You can have your opinon, but don't go over the top or try and ram it down people's throats, ala dave287

[buggerlugs]

The thread was shut by mods who have a vested interest in the property market, who were sick of hearing about FALLING property prices and didn't like people spreading the bad news which just adds fuel to a rampant fire. Its just like the government, they tell Australia that we are fine, its all good, when in fact it's very bad.
You can't be serious.............

[BENT_8]

Originally Posted by GasOLane

It was only the most popular thread because 'The Truck Thread' (200,000+ views) now has it's own forum.

I'd like to think that AFF members are savvy enough to read market reports and not rely on a very few comments here.
And I doubt that half a dozen people arguing about what to do next with their money could influence anybody here

Do you REALLY believe that?
There is a big difference between healthy debating and the 'I'm smarter with my money than you' type bickering that was happening.
A lot of other non car threads have been closed for similar reasons.

Then if there is no real harm or influence from the comments made why not reprimand those that made the inappropriate posts and reinstate the thread for the rest.

There is plenty of support for this, the thread never really breached any T&c and really only became an ego issue in the last few pages which could be easily dealt with.

All the same players are here now, so apart from hiding particular opinions there is no reason why we cant go back to that thread.

[Auslandau]

Originally Posted by AU101

The thread was shut by mods who have a vested interest in the property market, who were sick of hearing about FALLING property prices and didn't like people spreading the bad news which just adds fuel to a rampant fire. Its just like the government, they tell Australia that we are fine, its all good, when in fact it's very bad.

They said the thread was shut due to all the bickering, we'll thats what happens in forums people have different views which causes debate, which makes it interesting! Also because " Being a motoring forum it isn't needed right now " - Well why don't they go and shut down all the other non car threads???

Bloody Pathetic .....

This is the reason these threads do not survive. If you do not know why it was closed ..... look no further than this thread and if it gets closed becuase of you, you will be going with it.

[Auslandau]

Originally Posted by BENT_8

Then if there is no real harm or influence from the comments made why not reprimand those that made the inappropriate posts and reinstate the thread for the rest.

There is plenty of support for this, the thread never really breached any T&c and really only became an ego issue in the last few pages which could be easily dealt with.

All the same players are here now, so apart from hiding particular opinions there is no reason why we cant go back to that thread.

No it didnt breach any rules until I had to spend bloody hours cleaning up crap .... in the end it was easier to close as there was so much bickering, ranting and raving it wasnt worth my BLOODY time to fix it and make it readable ....... VERY SIMULAR TO THE WAY THIS THREAD HAS NOW GONE!!!!!!!!!!!!

PLEASE by all means go and start your own 'HOUSING FORUMS' and deal with the knobs that come out and play .........

[dave289]

Originally Posted by BENT_8

Then if there is no real harm or influence from the comments made why not reprimand those that made the inappropriate posts and reinstate the thread for the rest.

There is plenty of support for this, the thread never really breached any T&c and really only became an ego issue in the last few pages which could be easily dealt with.

All the same players are here now, so apart from hiding particular opinions there is no reason why we cant go back to that thread.

how about a poll ,this is ademocracy , majority rules.

And if you dont likethe heat , stay out of the kitchen.

I only ever gave it back after it hadbeen dished out to me first ,on manymany occasions.

and only ever rubbed it in when people want to tellme that i cant think for myself and continually have a dig at what I said. But itwas all ok earlier on in the thread when the shoe was on the other foot but not now that the tide has changed.

[AU101]

Originally Posted by GasOLane

I'd like to think that AFF members are savvy enough to read market reports and not rely on a very few comments here.

Although I'd like to believe all us Ford Men are savvy enough to read market reports, its just not the truth. Many here are bathurst bull ring car nuts lol simply wanting to discuss cars and who stumble upon economic discussions in " the Bar " If a fellow ford man can be made aware of whats really going on then great

Originally Posted by GasOLane

Do you REALLY believe that?
.

Is it not the truth?

Anyway here's some more good economic news I found whilst reading today's paper

http://www.heraldsun.com.au/business...-1226124807654

"NEW home sales have tumbled to their lowest level in more than a decade as buyers desert the market amid growing fears about a global economic slowdown. "

[MAD]

I cant believe you guys think it was shut by mods with an interest other than stopping the bickering. Blind Freddy could see the insults getting thrown around.

While I am more on the side of 'doom and gloom', as they call it, I still see comments like those above of Mr Smith, jumping for joy as people are going to suffer, totally unacceptable.

[Geez Louise]

Without reading all the posts in this thread....What was the topic about...How mods do their jobs on here or was it about the GFC??

Back on topic, I like to keep up to date with the world's economic crisis as much as I can. Is it improving? I don't think so...and not for a long time to come yet.

Italy is the latest country to hit the headlines isn't it?

[BENT_8]

Originally Posted by MAD

While I am more on the side of 'doom and gloom', as they call it, I still see comments like those above of Mr Smith, jumping for joy as people are going to suffer, totally unacceptable.

Agreed, there is little to gain from seeing people suffer.
I prefer to be humble, take note of the wide range of opinions aqnd experiences and hope to see myself and family right come crunch time, thats all i care about and why i dont post link after link of bad news stories, but i will still voice my thoughts if something gets my attention.