FINALLY...The truth comes out!!!

[GASWAGON]

Its only taken 10-15 years of consistent never ending housing price rises/bubble, negative gearing, 0.25 interest rates and now this.

As i said last night....Fkin Government/Banks!!!

Be prepared guys.....Something BIG maybe coming???

https://au.yahoo.com/finance/news/it...230414837.html

[mike_nofx]

A country that doesn’t manufacture anything and relies purely on digging holes in the ground has a struggling economy? Who’d have guessed!

[asagaai]

Originally Posted by mike_nofx

A country that doesn’t manufacture anything and relies purely on digging holes in the ground has a struggling economy? Who’d have guessed!

And up until recently, relying on foreign nationals who were cashed up to come in and buy multiple properties on same basis as an Australian, bringing money into Australia and boosting property prices. Great economic model that one for a long term prosperous Australia for our children and grandchildren....

[aussiblue]

Perhaps the Irish will be proved right see https://fordforums.com.au/showthread.php?t=11478797

[Bill M]

Manufacturing in Australia still goes on despite no passenger car industry.

https://www.australianmanufacturing....ss-directory-2

[Bossxr8]

The Libs have been lying about the state of the economy so they could use the "don't trust anyone but us to manage the economy" talk during the election. And their pie in the sky surplus projections that were dodgy as hell.

They have nfi what they are doing and are just hoping no one notices.

[roKWiz]

You mean politicians have been lying to me.

Libs / Labour they're all BS artists.

[GASWAGON]

Originally Posted by roKWiz

You mean politicians have been lying to me.

Libs / Labour they're all BS artists.

Got it in one RokWiz!!!!!

Lets see them work their way out of what might be coming in the very near future.

[roKWiz]

Originally Posted by QUIK6WGN

Got it in one RokWiz!!!!!

Lets see them work their way out of what might be coming in the very near future.

Didn't they just agree on another pay rise for themselves !!

[FTE217]

Originally Posted by Bossxr8

The Libs have been lying about the state of the economy so they could use the "don't trust anyone but us to manage the economy" talk during the election. And their pie in the sky surplus projections that were dodgy as hell.

They have nfi what they are doing and are just hoping no one notices.

They ?, pretty strange you pick one side and the red one doesn't lie LOL.....green or any other for that matter.
I'd sooner pie in the sky lies than fleecing hard working for countless years self funded retirees and other means on ripping money out of our pockets in recent times, turn it up.

The sky has meant to be falling ever since Howard got outed, oh hang on krudd onwards blew our surplus then and its been a spiral down since but who am I to blame.

Anyway I'm sure we will survive no matter what is to come.
Country is a pack of whingers imo, times are not getting any easier but harder, were just lucky its taken this long before the sky is falling.

[GASWAGON]

And now this aswell.....Mind you i been watching this on the sidelines for 15 years now.

I still remember when the property BOOM started (about 2000-2002 after the GFC) because where i worked we were always talking about buying land/houses and just flipping it all in a few years for quick easy money.

Now look what position that has US ALL in!!!!

https://au.finance.yahoo.com/news/wh...024517354.html

[Syndrome]

Various political parties have over several decades created an environment in Australia where value adding industries have slowly been destroyed and replaced by an economy built on speculative assets. This experiment will not end well.

[Citroënbender]

But it’s OK, you can now work longer before you have to retire. So - there is some hope of making enough money that once retired, you can afford a box of biros to sell by the each to motorists in traffic jams.

[J.C.]

Nonsense!
Things have never been better.
Just ask the politicians that have given themselves a pay rise recently.

[burnz]

we wont be the only country on the planet to have a recession.
thinking Australia is immune because we voted this way and not that way is just virtue signalling....

[mike_nofx]

Originally Posted by burnz

we wont be the only country on the planet to have a recession.
thinking Australia is immune because we voted this way and not that way is just virtue signalling....

Remember Kevin Rudd and his Ruddy Money giveaway (among other stimulus measures) which may have softened the blow during the GFC for Australia?

I think Australia pulled through pretty well. Rudd was an underrated PM.

Not saying the Labor party of today and Shorten would have done as well. But my point is the way you vote can make a difference.

[LeadFoot81]

Originally Posted by J.C.

Nonsense!
Things have never been better.
Just ask the politicians that have given themselves a pay rise recently.

How good are pay rises!?

[Cav]

I live off the taxpayers' teat, and lovin' it.

I want all youse whingers to keep paying ya taxes so that I can keep livin' the life I deserve.

[Bossxr8]

Originally Posted by FTE217

They ?, pretty strange you pick one side and the red one doesn't lie LOL.....green or any other for that matter.
I'd sooner pie in the sky lies than fleecing hard working for countless years self funded retirees and other means on ripping money out of our pockets in recent times, turn it up.

The sky has meant to be falling ever since Howard got outed, oh hang on krudd onwards blew our surplus then and its been a spiral down since but who am I to blame.

Anyway I'm sure we will survive no matter what is to come.
Country is a pack of whingers imo, times are not getting any easier but harder, were just lucky its taken this long before the sky is falling.

Yeah, it's funny how I picked out the side who has been running the country the last few election cycles

Should I blame labor for the libs telling us how great economic managers they are, and how they made BS budget projections too?

They are as bad as each other, but the buck stops with the bastards in charge.

And I don't recall saying labor was any better. They all lie.

[FTE217]

were agreed like most here they all are liars but.......
You didn't quote Labour were any better but you know, when pointing at one its usually on the side of the other.
Someone quoted re how smart Rudd was spending all our surplus - yer right ?!, more like he squandered the lot in gay abandon under pressure from what ? because the USA went into GFC hyper bole but we did not need to react as much.
He gave in to pressure and loved the limelight - idiot.
From 2007 - 2013 Krudd/Gillard we ended up with so much debt it was new territory for us all remember.
Then Libs getting back in with a minority might I add had their hands tied right ?
If I recall right good ol Labour had hidden so many policy changes, costs etc no one knew anything and nothing added up !
Libs screwed up re Abbott/Turnball and on and on......
All I know importantly from friends in the Stock/Financial market who I believe more than the would be's in Gov they are farfarfar happier its Libs in charge compared to those pie in the sky spenders.
The buck can't stop who's in charge for when in charge your hands are tied more than ever today.

[aussiblue]

It's all speculation albeit some of it well founded. But as a retired professional economists here a couple of truths:

a) He who lives by the crystal ball must learn to eat ground glass; and

b) We know most economic predictions will be wrong; we just don't know by how much and in which direction.


Oh and when the media reports: "most (Australian or ..) economist predict..." they actually have not spoken to, or polled many economists (if any at all) let alone all economist or a majority of economist.

[aussiblue]

... and

“An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.”
― Laurence J. Peter

“The curious mind embraces science; the gifted and sensitive, the arts; the practical, business; the leftover becomes an economist”
― Nassim Nicholas Taleb, The Bed of Procrustes: Philosophical and Practical Aphorisms (Good thing I was also a FCPA accountant although it is said that "an accountant is someone who is good with numbers, yet lacks the personality and imagination to be an economist!”)


“They (economists) must set aside their contempt for other disciplines and their absurd claim to greater scientific legitimacy, despite the fact that they know almost nothing about anything.”
― Thomas Piketty, Capital in the Twenty-First Century

"The inscrutability [of economics] is perhaps not unintentional. It gives endless employment to dialecticians who otherwise might become public charges or, at very worst, swindlers and tricksters."
Jack Vance

[Work Horse]

Originally Posted by FTE217

were agreed like most here they all are liars but.......
You didn't quote Labour were any better but you know, when pointing at one its usually on the side of the other.
Someone quoted re how smart Rudd was spending all our surplus - yer right ?!, more like he squandered the lot in gay abandon under pressure from what ? because the USA went into GFC hyper bole but we did not need to react as much.
He gave in to pressure and loved the limelight - idiot.
From 2007 - 2013 Krudd/Gillard we ended up with so much debt it was new territory for us all remember.
Then Libs getting back in with a minority might I add had their hands tied right ?
If I recall right good ol Labour had hidden so many policy changes, costs etc no one knew anything and nothing added up !
Libs screwed up re Abbott/Turnball and on and on......
All I know importantly from friends in the Stock/Financial market who I believe more than the would be's in Gov they are farfarfar happier its Libs in charge compared to those pie in the sky spenders.
The buck can't stop who's in charge for when in charge your hands are tied more than ever today.

You do realise the crisis in the USA was caused by our friends in the Stock/Financial market?

I would sooner take economic advice from Teddy the wonder lizard....

As for economists ask the opinion of 4 and get 5 different answers!

[Sprintey]

The really scary thing is that there has been 28 or 29 years since the last recession. No pulling back at all in that time - that is freaky! The imbalances that have built are far more frightening than the reversion to the mean being allowed to occur.

[snap0964]

Originally Posted by Cav

I live off the taxpayers' teat, and lovin' it.
I want all youse whingers to keep paying ya taxes so that I can keep livin' the life I deserve.

Newstart pays pretty well ?

[Franco Cozzo]

Originally Posted by snap0964

Newstart pays pretty well ?

Cav's older than the bloody hills, let him have his old fogies spondoolies for the next 6 months he's got left on this planet before he goes to the bingo championship in the sky

[JasonACT]

oh, snap! (sorry!)

[snap0964]

Originally Posted by Franco Cozzo

Cav's older than the bloody hills, let him have his old fogies spondoolies for the next 6 months he's got left on this planet before he goes to the bingo championship in the sky

The age limit for Newstart is 64 - someone needs to let Centrelink know he's been claiming that age for at least 25 yrs.

[FTE217]

Originally Posted by Work Horse

You do realise the crisis in the USA was caused by our friends in the Stock/Financial market?

I would sooner take economic advice from Teddy the wonder lizard....

As for economists ask the opinion of 4 and get 5 different answers!

yep, theirs not ours.
The guys I know for a long time, they have been pretty good regards our patch the years I've known them.
yer I was going to post re economists, I'm watching the Gotham series on Netflix atm, they remind me of the Joker and Riddler, messed up nutty minds lol...

[Whitey-AMG]

So the article was written by a chump who was the senior economic adviser to Australias greatest Prime Minister : Julia Gillard.

Proceed with caution..... the crystal ball is fragile.