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#2491 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Sydney
Posts: 771
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This is RBA speak for 'its a blunt instrument but its all we have'. As noted in these threads, not everyone has a mortgage and not all mortgages are floating rate. Align that with rental contracts and the timing of interest rates effects are difficult to judge.
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2017 Mustang Lightening Blue, Cobb Intercooler, CAI, AccessPort, Turbo Blanket & V2 Exhaust, Mishimoto Down-Pipe & Overflow Tank, GFB DV+, Custom CRD Tune. Ford Performance Short Throw Shifter & Strut Brace. DBA T3 Brakes & Pads. Braided Brake Lines. H&R Coilovers. Anderson CF Track Pack Spoiler & Tailgate Panel. Blue CF/Leather Steering Wheel. |
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#2492 | |||
Ford screwed the Falcon
Join Date: Sep 2013
Posts: 7,062
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Quote:
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Falcon: 1960 - 2016 My cars Current ride 2016 FG X XR6 - 6 speed manual Previous rides 2009 FG XR6 - 6 speed auto 2006 BF MkII XT ESP - 6 speed auto 2003 BA XT V8 - 5 speed manual 1999 AU Forte - 5 speed manual 1997 EL Fairmont - 4 speed auto 1990 EAII Fairmont Ghia - 4 speed auto |
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#2493 | ||
If it ain't broke........
![]() Join Date: Dec 2007
Location: Sunshine Coast Qld
Posts: 18,538
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A Current Affair and the likes of news.com.au will have another months worth of mileage now.............
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Visitors welcome Relatives by appointment only |
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#2494 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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I know about perth Mint, in fact two years ago they were caught by not having enough gold to match the paper certificates issued to punters...their accountants rented 30 tonnes of gold from...the RBA!..that made the numbers add up according to the bean counters...as long as everyone didn't try to cash in their gold certificates at once it was all good....good reason to have the real stuff me thinks...so yeah...you can't fool Zilo.
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#2495 | |||
FF.Com.Au Hardcore
Join Date: Oct 2014
Location: Newcastle
Posts: 1,782
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You sure that was the Mint purchase back Gold Price instead of the Mint selling Gold Sale price?
Response: Good on you- have property in my SMSF as well. Quote:
Society will avoid bail in of banks because all confidence in the system will be gone. Like the Government bailed out FAI insurance when it went belly up, and bailed out Insureds. It would take an absolute meltdown of the financial system and banks/financial institutions for bail in to be used to bail in deposits. In this situation, I think loss of deposits would be the least of one's concerns.
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Ford Rides: Ford Fiesta ST Mk 8 -daily- closest thing to a go kart on road for under 50K FG X XR8 smoke manual - Miami hand built masterpiece by David Winter, BMC Filter, JLT Oil separators, Street Fighter Intercooler Stage 2, crushed ball, running 15% E85 and 85% 98- weekender Last edited by asagaai; 08-03-2023 at 04:11 PM. |
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#2496 | |||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,559
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Change the GST, nah not for me unless the budget is up to pooper that bad that we are unsustainable. The poor are already struggling. Play with Super? Imagine the logistics in adjusting that make making sure its compliant. Sorry for me rate changes are the way to go but there needs to be some market/sector policies adjusted to help. If there is a sector in trouble, then understand why and look for options
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Last edited by Polyal; 09-03-2023 at 10:41 AM. |
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#2497 | ||
Donating Member
![]() Join Date: Jun 2007
Location: Checking out soft furnishings....
Posts: 8,687
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It's been a moment without you, I'm surprised you share your secrets with everyone on here considering you are so rich
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Proud owner of the ugliest Ford ever made |
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#2498 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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The rich generally have no issues sharing their "secrets"....if you ask....I find.
Most people just don't like the answer ![]() Although, you generally always here about the wins, never the losses.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2499 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Quote:
What I do is learn from others mistakes. That way you minimize your own mistakes and net more wins in the long run. But that takes research, self assessment, commitment, a certain level of risk you are prepared to lose and walk away from. Most people don't have much to risk in the first place and this will mean it will be harder to change that situation, so there will be those who will naturally criticize at the idea of those who are in in a better position to improve net wealth. These days though I have noticed the term "rich" has been applied to anyone in a better position than you are by those who don't have or made poor decisions in life. An unfair and annoying correlation. To me, a rich person is someone who has their health, loving family, a roof over their head and food on the table. Sorry for going OT
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2500 | ||||
Donating Member
![]() Join Date: Jun 2007
Location: Checking out soft furnishings....
Posts: 8,687
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Quote:
Rich don't get rich without taking chances. I do hate when those that choose to live in a comfortable bubble their whole lives (which is fine) whinge about people that earnt the same working amount but took risks and profited a lot from those risks. Another interesting point is people whinging about those that earn a lot of money, lets say the 200-500k bracket. How many of those people are working 38 hour weeks? After working with those people I've not met a single one of them that works less than 50 hours a week. Most put in at least 60 hours. Unless inherited, you don't get money easily in most cases, it takes some sort of sacrifice. Quote:
I should also add, I don't see money as the be all and end all. I used the term above "rich" wrongly. For me it's all about striking a good balance. I've also noticed in my life that you can have all the money in the world but it doesn't buy happiness. Finding that balance of being comfortable and also happy with life is the key. You can have all the cars, houses, gadgets you want. I look at my uncle, worth an absolute fortune. Lives in a 10 mil house but his wife left him after the kids grew up because he was always working and never home. Now he's retired and an alcoholic spending his days drowning in his poor life decisions.
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Proud owner of the ugliest Ford ever made Last edited by fordomatic; 09-03-2023 at 12:35 PM. |
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#2501 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Quote:
Agree though that material wealth does not bring happiness. It's a sad state of mind in a capitalistic world. However, I am noticing a shift from living a simple life out of choice to living a simple life because we are pressured to, particularly with the cost of living being at the forefront of everyones minds. Those who were struggling before are now on the verge of poverty and choosing to eat vs choosing to have a roof over their head. That's the stone cold reality of where we are as a human race right at this precipice in time. Ive also noticed those who took it to the extreme, buried their heads in work, built up a personal empire have no one meaningful to share it with. They sacrificed their family too much in pursuit of riches. Much like your uncle. There has to be a balance and the family unit is the core and needs to be protected no matter the ambition.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2502 | |||
FF.Com.Au Hardcore
Join Date: Mar 2019
Posts: 596
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Quote:
There is also those that are wealthy but don't need to be asked or prompted to share their secrets; they will mention their wealth at every opportunity, even when weaving it into the discussion is so off-topic it seems completely random. Then there are those that are wealthy but you would never know it as modesty means they choose not to disclose it, even when the opportunity is there. And then there are those that bull**** about their wealth. |
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#2503 | ||
FF.Com.Au Hardcore
Join Date: Oct 2014
Location: Newcastle
Posts: 1,782
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Some very good posts here just right now.
I had discussions with a colleague a number of years ago whose husband died while still young, with bowel cancer. They were like the glamour power couple in my area. My colleague said that her husband was always planning and working towards being very wealthy and drove himself hard. She said to me, in the end, that she and her husband had an epiphany, that all one really needs to be "happy" is a comfortable house, food, and the company of loved ones around you. I have spoken to a number of more elderly, whose partner have died, and they also mirror this, saying all you need is a comfortable safe/ warm/cool place to live, and family and friends, everything else is piffle.
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Ford Rides: Ford Fiesta ST Mk 8 -daily- closest thing to a go kart on road for under 50K FG X XR8 smoke manual - Miami hand built masterpiece by David Winter, BMC Filter, JLT Oil separators, Street Fighter Intercooler Stage 2, crushed ball, running 15% E85 and 85% 98- weekender |
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#2504 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Some more doom and gloom news.
US Feds have come out and said they need to raise their rates harder and faster. That is going to put pressure on other economies to follow suit to stay competitive. Interesting thing is, +90% of US mortgages are on long term fixed rates, with 30 years being the most common followed by 15, so their reserve bank aren't going to cop the same sort of heat. I should add, they could effectively weaponise this advantage....watch this space.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2506 | |||
Moderator
![]() Join Date: Jan 2014
Location: Melbourne
Posts: 7,940
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Quote:
Wage setting in the US, is done in a different way compared to Australia where there is a lot of enterprise bargaining. Also the US finished 2022 on an inflation rate of 9.1 per cent, which is 1.3 per cent higher than the inflation rate in Australia. If US banks can borrow money long term to cover fixed rate 30 year mortgages, I don't see why our big banks here cannot offer the same thing. |
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#2507 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Year of the black rabbit continues. Two major banks in the US have just gone under. There are mumblings that this could be the start of something bigger than the 2008 GFC.
Now might be a good time to ask Zilo where to park our money. Take care out there. Quote:
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2508 | ||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Fasten your seat belts, we are flying into some turbulence.
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#2509 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,856
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Curious question, Sydney suburbia. Are pools now value-reducers? Every site I see redeveloped in the local area is subdivided and no room for a pool.
Prospective client wants an older concrete, in-ground pool gone (another thread exists about cutting it up). It’s moderately deteriorated. Removal of this and related raised areas will add about 70sqm of yard space, to become a mixture of lawn and paving. |
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#2510 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Quote:
Call me a tin foil hat wearer, but they will call in a global digital currency to offset the inevitable.
__________________
"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2511 | |||
Bolt Nerd
![]() Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,616
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Quote:
Lucky to get 10-15 days a year where it’s proper pool weather…
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner ![]() |
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#2512 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
Plus the added cost of maintenance and running each year for something that will get little use.
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___________________________ I've been around the world a couple of times or maybe more....... |
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#2513 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,856
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That’s two “nays” and no ayes. Thank you both.
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#2514 | ||
Ford screwed the Falcon
Join Date: Sep 2013
Posts: 7,062
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RBA will not be increasing interest rates in April and I suspect this cycle of continually increasing interest rates may have come to an end.
As said above, things have the potential to get very bad. The GFC never ended. It was cheap credit offered by global banks which has masked the real situation. And as can be seen any attempt to wean the economy of cheap credit will be almost impossible. They will keep creating money with cheap credit which will eventually result in hyper inflation.
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Falcon: 1960 - 2016 My cars Current ride 2016 FG X XR6 - 6 speed manual Previous rides 2009 FG XR6 - 6 speed auto 2006 BF MkII XT ESP - 6 speed auto 2003 BA XT V8 - 5 speed manual 1999 AU Forte - 5 speed manual 1997 EL Fairmont - 4 speed auto 1990 EAII Fairmont Ghia - 4 speed auto |
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#2515 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Quote:
2 year government bond is below the cash rate. Analysts now predicting US might have to drop interest rates twice over the next 6 months, which contradicts what the US Feds had come out and said just over a week ago. 3 US banks collapsing in the last week may have changed things.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2516 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,856
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No surprise really, I think Franco Cozzo’s description of “fiscal cosplay” was both apt - and in some cases, appropriately demeaning:
https://www.9news.com.au/national/cr...4-dc650cde1648 The Emperor has no clothes; furthermore he’s no Adonis. I believe it’s why we still need to raise interest rates, people have to realise the Anna Sorokin method of “Fake it ‘til you make it” cannot be applied to household spending. Once genuine fiscal restraint starts to show, I’ll review my opinion. Last edited by Citroënbender; 21-03-2023 at 10:21 PM. Reason: Soft and cuddly, hug me up like a quilt. |
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#2517 | ||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Something tells me if they've turned to the credit card to get through week to week they wont be paying it off each month as that moneys gone on rent or mortgage increases.
As I said recently, upping interest rates wont slow spending as people are addicted to living life as they have for far too long, they'll just run up the cards till they can no longer and end up bankrupt. Then the relationships will start breaking down as they blame each other for not being able to support the lifestyle they're use to. Dig in people, its gonna get ugly. |
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#2518 | ||
FF.Com.Au Hardcore
Join Date: Dec 2009
Posts: 3,465
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Retirees of course face a situation where their Super basically just goes backwards be it covid Ukraine War Bank contagion Rising interest rates the weather football results whatever etc etc. And of course if you draw down a pension from your super down it goes.
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#2519 | |||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,856
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#2520 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Quote:
https://www.bankrate.com/banking/fed...ggest-winners/ Ross Greenwood is a spruiker...not an expert in my opinion.
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Please press the "Like" button if you enjoy my posts. (It's the red triangle with exclamation mark on the left) |
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