Merged: Is the worst of the Global Financial Crisis behind us?
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"...the origins of the contributions may be opposite to what may be apparent."
I'd be interested in even ONE good reason, 4PW's, for this imminent USD bull-run.
I'd be interested in even ONE good reason, 4PW's, for this imminent USD bull-run.
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Political correctness
Chimbu, that breaks me up. Had to watch it again straight away, and will look up the others. Don't ever stand yourself for anything, or I may have to vote you in as a Governor or President..
Used to drive with a sticker on the rear window that said
"Suzy Balogh For P.M. - We need a Straight Shooter in the Lodge".
Particularly like this ditty from a book series -
Here lies a toppled God
His fall was not a small one
We did but build his pedestal
A narrow but a tall one
Frigate
Used to drive with a sticker on the rear window that said
"Suzy Balogh For P.M. - We need a Straight Shooter in the Lodge".
Particularly like this ditty from a book series -
Here lies a toppled God
His fall was not a small one
We did but build his pedestal
A narrow but a tall one
Frigate
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Given you put the question that way, Ferris, I'd just love to sit down and have a fireside chat with you about why this and why that. Only I can't. I just don't have time. Real nice of you to ask, though.
Chimbu, good call!!
Those roast clips are fantastic, been watching em for yrs, Rickles is a riot and yes they were hilarious without a swear word and before the PC BS took over the whole world.
Those roast clips are fantastic, been watching em for yrs, Rickles is a riot and yes they were hilarious without a swear word and before the PC BS took over the whole world.
Gnadenburg
Quote:
Well if you had of taken my advice, bought good Australian property last year and funded it with the USD, you could have currency switched and made a fortune.
For an ex-currency trader, living in Hong Kong, it should have been plain to see. But required street smarts and balls.
Just for your info I do have a very nice property on Sydney’s Northern Beaches which I bought very close to the bottom of the market and I did move a great chunk of my loan to HK late last year when the AUD was near its lowest to the HKD and USD. So yes I have done nicely because of this, but it wasn’t from any advice I got here or street smarts or balls as you put it. It was because of my background and the fact I am constantly researching the markets that allowed me to get the timing roughly right. Do I think my property has or will continue to decline any further? Yes but I haven’t bought it to speculate a capital gain. It is a very long term investment and probably where I will retire when I have finished my stint here in Hong Kong.
Quote:
Well if you had of taken my advice, bought good Australian property last year and funded it with the USD, you could have currency switched and made a fortune.
For an ex-currency trader, living in Hong Kong, it should have been plain to see. But required street smarts and balls.
Just for your info I do have a very nice property on Sydney’s Northern Beaches which I bought very close to the bottom of the market and I did move a great chunk of my loan to HK late last year when the AUD was near its lowest to the HKD and USD. So yes I have done nicely because of this, but it wasn’t from any advice I got here or street smarts or balls as you put it. It was because of my background and the fact I am constantly researching the markets that allowed me to get the timing roughly right. Do I think my property has or will continue to decline any further? Yes but I haven’t bought it to speculate a capital gain. It is a very long term investment and probably where I will retire when I have finished my stint here in Hong Kong.
You are a very conservative investor. Good luck to you. But many pilots would have left you behind this cycle without the benefit of your "financial education" and dogged research.
How is your Hong Kong property fairing? From what I read dogged research would not have have picked the current market gains.
I'd be interested in even ONE good reason, 4PW's, for this imminent USD bull-run.
I want out of the USD. Again, this month, my bank rang me and offered a Starbucks coffee for my 500,000 USD deposit.
Wish I had bought even more Oz property 6 months ago.
Grandpa Aerotart
Well maybe one day you'll feel differently about that.
The Australian dream of home ownership is slipping away, leaving a threat of a US-style collapse in house prices, according to a team of university researchers.
Analysis by researchers from South Australia's Flinders University has revealed home ownership in the 10 years from 1996 rose only 0.8 per cent despite strong economic growth and low interest rates in that period.
The Flinders Institute for Housing, Urban and Regional Research analysis found home ownership fell by 15 per cent over the two decades to 2006 for low income earners over 45 years of age and medium-high income earners under 45 years.
Other findings included large gains in national income from the resources boom were "wasted" by increasing house prices and accumulating debt to unreasonable levels.
The analysis found the first home owners scheme boosted home purchases for people under 25 years of age but many lower income earners in the 25-44 age bracket were unlikely to ever own their own homes because their parents were spending their inheritances and prices remained high.
Dr Joe Flood, the institute's adjunct professor, said the "the writing is on the wall for the 'Australian dream'."
"The country that promised limitless land, cheap housing and near universal home ownership to all comers now has the most expensive housing in the world amid very tight housing and land markets and little prospect of restoring the balance," Dr Flood said in a statement on Monday.
"As long as the government, the public and the media remain in denial, and self-congratulatory rhetoric continues that Australia has cleverly avoided the housing market correction it needed to have, there is little chance that matters will improve.
"The only ways that this would happen are through a US-style price collapse or a complete re-evaluation of the situation and a coordinated effort by governments, planning and financial institutions to restore the balance between housing supply and demand - or tax away the imbalance - so that all Australians may benefit."
Dr Flood and his team assessed Census data to conclude that Australia's housing market is in "a very dangerous and unstable situation which has received little adverse attention".
The researchers found that after 1996, average house prices increased by three times on average - to around 6.8 times medium household income - and debt levels surged.
"On the one hand Australia is vulnerable to a collapse like the United States, where prices fell by a half during the sub-prime collapse ... or to a long slow decline as in Japan since 1988," Dr Flood said.
Analysis by researchers from South Australia's Flinders University has revealed home ownership in the 10 years from 1996 rose only 0.8 per cent despite strong economic growth and low interest rates in that period.
The Flinders Institute for Housing, Urban and Regional Research analysis found home ownership fell by 15 per cent over the two decades to 2006 for low income earners over 45 years of age and medium-high income earners under 45 years.
Other findings included large gains in national income from the resources boom were "wasted" by increasing house prices and accumulating debt to unreasonable levels.
The analysis found the first home owners scheme boosted home purchases for people under 25 years of age but many lower income earners in the 25-44 age bracket were unlikely to ever own their own homes because their parents were spending their inheritances and prices remained high.
Dr Joe Flood, the institute's adjunct professor, said the "the writing is on the wall for the 'Australian dream'."
"The country that promised limitless land, cheap housing and near universal home ownership to all comers now has the most expensive housing in the world amid very tight housing and land markets and little prospect of restoring the balance," Dr Flood said in a statement on Monday.
"As long as the government, the public and the media remain in denial, and self-congratulatory rhetoric continues that Australia has cleverly avoided the housing market correction it needed to have, there is little chance that matters will improve.
"The only ways that this would happen are through a US-style price collapse or a complete re-evaluation of the situation and a coordinated effort by governments, planning and financial institutions to restore the balance between housing supply and demand - or tax away the imbalance - so that all Australians may benefit."
Dr Flood and his team assessed Census data to conclude that Australia's housing market is in "a very dangerous and unstable situation which has received little adverse attention".
The researchers found that after 1996, average house prices increased by three times on average - to around 6.8 times medium household income - and debt levels surged.
"On the one hand Australia is vulnerable to a collapse like the United States, where prices fell by a half during the sub-prime collapse ... or to a long slow decline as in Japan since 1988," Dr Flood said.
No Chimbu. On a commercial holding it would have been an absolute winner in hindsight. When you factor in the purchasing power of the USD versus the Aussie at the time, and the fact that anytime the AUD is that low I place debt in USD.
So, a 2 million dollar commercial property, comfortably leveraged with the 500,000 USD, yielding 8-9%. The AUD has since appreciated and now you flip your debt to profit or maintain a fantastic yield by keeping debt in USD.
A simple strategy I had with a residential holding. Just wish I had the balls to do it with a commercial property. Fact is, I read some crap here on the vulnerability of BNE commercial property and went conservative.
That article is just crap Chimbu. Speculative journalism drawing on inconclusive and possible scenarios.
Many folks I know could pay out their mortgage in OZ but have leveraged against their house to invest elsewhere. If the Australian economy does badly I could speculate that this is very unwise. If the Australian economy does well I could pat them on the back for their resourcefulness.
So, a 2 million dollar commercial property, comfortably leveraged with the 500,000 USD, yielding 8-9%. The AUD has since appreciated and now you flip your debt to profit or maintain a fantastic yield by keeping debt in USD.
A simple strategy I had with a residential holding. Just wish I had the balls to do it with a commercial property. Fact is, I read some crap here on the vulnerability of BNE commercial property and went conservative.
That article is just crap Chimbu. Speculative journalism drawing on inconclusive and possible scenarios.
Many folks I know could pay out their mortgage in OZ but have leveraged against their house to invest elsewhere. If the Australian economy does badly I could speculate that this is very unwise. If the Australian economy does well I could pat them on the back for their resourcefulness.
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Pretensions.. Pretensions..Name dropping pretensions.. Gnads with "my bank rang me and offered a starbucks coffee for my 500,000 usd deposit" - Have read that this sort of thing goes on with the trendy on Facebook too - thats why I havn't been there !
Why don't you lord it up in a Real Estate Forum then, if you're so good, amongs't your peers !!!
Why don't you lord it up in a Real Estate Forum then, if you're so good, amongs't your peers !!!
No pretentiousness intended and I can see how I would upset your working to middle class sensibilities.
Instead of using cut n' pasted newspaper articles with selected quotations and excerpts from reports, I have used personal experiences and that of others I know in the real estate game- including a very relevant reference to family members with significant commercial holdings, not experiencing any duress in market that according to two posters here would collapse!
To me, that is real, workable data. And in the past 12 months it gave me suspicions of the doomsayers.
Financial literacy and fluency in my experience is a huge problem for pilots. I recently worked in liason with my company, our union and the banks on the issue of financial stress in the GFC. Not much could be done except make awareness to counselling services. Some banks were helpful on margin calls. And incidentally, in discussions with the banks it wasn't just dumb professionals like pilots who made huge, unrecoverable personal losses. But those from the financial community!
This isn't the first time I have witnessed pilots lose their shirts. I recall from Ansett days the tax scams- there were two- that suckered in highly paid individuals; some with financial degrees. Yes they were fools but the loss, financial and personal, was a sad lesson.
And today the sharks are back. The suits who circle pilots with promises of grand short-term returns through finance, shares, property, insurance, trusts etc etc.
Financial literacy is important for the modern professional pilot who must self-fund retirement. Like you, some can choose to switch off to what is said or discussed - the curse of the poor. Or alternatively.Take in snippets of information, tips, mistakes made and confessed lessons- and make your own successful path.
Funny. That last sentence is an aviation mindset of most successful pilots as they professionally progress. As soon as $ mentioned it's a dirty concept.
Instead of using cut n' pasted newspaper articles with selected quotations and excerpts from reports, I have used personal experiences and that of others I know in the real estate game- including a very relevant reference to family members with significant commercial holdings, not experiencing any duress in market that according to two posters here would collapse!
To me, that is real, workable data. And in the past 12 months it gave me suspicions of the doomsayers.
Financial literacy and fluency in my experience is a huge problem for pilots. I recently worked in liason with my company, our union and the banks on the issue of financial stress in the GFC. Not much could be done except make awareness to counselling services. Some banks were helpful on margin calls. And incidentally, in discussions with the banks it wasn't just dumb professionals like pilots who made huge, unrecoverable personal losses. But those from the financial community!
This isn't the first time I have witnessed pilots lose their shirts. I recall from Ansett days the tax scams- there were two- that suckered in highly paid individuals; some with financial degrees. Yes they were fools but the loss, financial and personal, was a sad lesson.
And today the sharks are back. The suits who circle pilots with promises of grand short-term returns through finance, shares, property, insurance, trusts etc etc.
Financial literacy is important for the modern professional pilot who must self-fund retirement. Like you, some can choose to switch off to what is said or discussed - the curse of the poor. Or alternatively.Take in snippets of information, tips, mistakes made and confessed lessons- and make your own successful path.
Funny. That last sentence is an aviation mindset of most successful pilots as they professionally progress. As soon as $ mentioned it's a dirty concept.
Last edited by Gnadenburg; 15th Sep 2009 at 06:54.
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LORD GNADENBURG - Sorry , Me Lord, very uppity of me to suggest you should post to YOUR PROFESSIONAL FORUM. Forgive me M'Lord. (Tugging forelock). By the way, how far back can you trace your ancestors? All the way back to the cattle duffers armed with swords maybe? Then their kids (sorry - Descendants) were knighted for supplying the serfs to another bandit with a bigger pile of rocks (Castle - I think its called!) Wasn't very good at this at the Ag.College, dad didn't have a mansion or factory in The City, so I just used to ride on the trams when I was passing through. But I DID manage to get a Senior Commercial PILOTS licence later, and helped start somethings. Oh, and we (the guys and me) used to provide an actual Service to People, by actually having them pay us to regularly convey them between places marked "A" and "B", and sometimes with other companies we got to go to "C", and "D", and all the letters of the alphabet. (Day and night - I kid you not!). And you know, in my working and middle class way, I really liked it. Do you provide a service to others free or for a fee, or is it all just greed for you? How did you get to find the love affair of your life with Real Estate, M'Lord ? With all your Squillions, and KNOWLEDGE, there must be quite a story there, if you INSIST on denigrating the effort of professionals in lesser occupations . 
Me, well I don't want any more than what I already have. Compared to what some have in some of the places I have worked, by their standards I am already well off. (I don't have or need a title other than Captain). What I just have to do for the next 20 or 30 years, is to make sure it doesn't decrease or run out because of the greedy speculation of the get rich quick schemes of the Whiz Kids that are now in charge of the nations and worlds pursestrings. People like you, M'Lord.
Sorry, another specialist in the medical profession once told me that I Didn't Suffer Fools Gladly. I completely agree with the finding, to which I might add that I also don't take kindly to those who denigrate others as a group the way you have done.
Me, well I don't want any more than what I already have. Compared to what some have in some of the places I have worked, by their standards I am already well off. (I don't have or need a title other than Captain). What I just have to do for the next 20 or 30 years, is to make sure it doesn't decrease or run out because of the greedy speculation of the get rich quick schemes of the Whiz Kids that are now in charge of the nations and worlds pursestrings. People like you, M'Lord.
Sorry, another specialist in the medical profession once told me that I Didn't Suffer Fools Gladly. I completely agree with the finding, to which I might add that I also don't take kindly to those who denigrate others as a group the way you have done.
Last edited by frigatebird; 15th Sep 2009 at 09:39. Reason: spelling correction
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Only I can't. I just don't have time.
Thread Starter
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Recession over in the US?
US recession very likely over, says Federal Reserve chairman Ben Bernanke | The Australian
US recession very likely over, says Federal Reserve chairman Ben Bernanke | The Australian
Me, well I don't want any more than what I already have. Compared to what some have in some of the places I have worked, by their standards I am already well off. (I don't have or need a title other than Captain
If there was more financial nouse amongst pilots. Perhaps we wouldn't see characters using 'feeding their families' as an excuse to cross a picket lines, buy an endorsement for a meagre return , get pushed around by management or be eligible for food stamps in some countries.
And when they are on the bones of their ass, in a once lauded profession, folks like frigatebird are just happy to be called Captain.
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I've done my bit to keep the standards up, make the flights productive, and keep myself working, much, much more than many I have worked with recently. Play in your own sandbox, make your own rules, swing upside down on your swings if that's what turns you on. Watch plenty of American "D" grade movies to show you how it's done, You seem to be an "Expert" commentator on all things. For me, the CRM training is cutting in, and have found there is no point arguing with drunks, devout religeous, and dizzy guys like you. Understand now why the old soldiers used to put so much emphasis on mateship when their lives were on the line, because in real life, in Civvy street, there is so little of it.
Have a Nice Day.
Have a Nice Day.
Your the second bloke who has mentioned CRM on this thread.
What's with that?
BTW. I know plenty of old soldiers who put emphasis on securing their family's future through nouse and a sense of community. Don't cheapen your argument Captain.
What's with that?
BTW. I know plenty of old soldiers who put emphasis on securing their family's future through nouse and a sense of community. Don't cheapen your argument Captain.
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The US economy will not recover to the same level as before. We are witnessing the end of greenback hegemony and without this, the US is in a terrible position. And the rest of the consuming world also. Oil will again go beyond $150 pb.
As Jim Rogers said, get out of USD and teach your kids to speak Chinese.
As Jim Rogers said, get out of USD and teach your kids to speak Chinese.