going down...

[Priest of Evil]

Interest rates are dropping but not fast enough after the crunch of earlier this year and they say petrol might drop up to $20c a litre. But hard times are hard times and theyve been felt by almost everyone - the water crisis hasnt helped any either. I can't believe the Reserve Bank kept rising the interest rate when it was obvious the global market was in crisis. How confident do you feel about our countries future?

 

[Goreripper]

Far more confident than if I lived in the UK, or even the US. DOn't worry about petrol prices though. The oil companies will keep them high and then say it's the exchange rate's fault. Plus, I live in Sydney and work for the government. I'm not half as worried as someone who works in manufacturing and lives in Adelaide should be.

 

[Priest of Evil]

I'm not half as worried as someone who works in manufacturing and lives in Adelaide should be.

Yeah, me either!

I read today they say Britain will be the first to go formally into recession.

 

[Shadow298]

Far more confident than if I lived in the UK

a mate of mine married an investment banker from the UK a couple of years ago and she's been saying how much abuse she's be copping over the falling markets and everything.

Especially from US investors just trying to find someone to blame for them being stupid and not paying attention to all the problems inherient in investment and lending system.

Personally, not so worried about Australia but if the US tanks, it will affect us pretty badly.

 

[phlogiston]

Home loan rates can do what they like for the next three years. I locked my home loan rate in for three years. The paperwork all got signed just days after the last rate rise. Who's laughing now, huh? WHO'S LAUGHING NOW!

Me, that who. Because if I wasn't laughing, I'd have a mouthful of shotgun.

 

[FerretallicA]

Bugger, I was hoping this thread was going to be full of funny blowjob stories.

 

[Southy]

I am looking at buying our first home at the moment, and so far things are playing into our hands a bit, hopefully it will continue, and we will be able to pay for the place too

 

[Shannow]

I'm struggling with the last 6 weeks worldwide.

Bear in mind that money is created through the debt process, and that it is only the continual "growth of the economy" that can pay off the interest on the debt that turns debt money into money.

RBA were being pussies trying to control growth, "boiling the frog" with 1/4% today, and another 1/4% tomorrow...at the time, I was thinking stick it to us with a full %, or even 1/2%. By the time that the frog reacted, it was cooked.

Government were hanging onto the surplus, which I understood was a good thing. Whenever there is an expansion of money supply, inflation goes up. Tax cuts or pay outs made inflation...Govt should hold the surplus.

Would have liked it if they built a new "Snowy" equivalent to shift water, move cotton and rice production out of the country, or foster the hydrology of that bloke who makes Gerry Harvey's farm green (Harvey can rot 'though).

Sub Prime hits, and they start the bailouts.

IAG (US) receive $87B, and celebrate with a $440,000 party by the execs, lasting a week. Another big wig yank gets $21M pay for 18 days.

Something stinks.

US Bailout becomes $1T, with the govt becoming part owners (nationalisation ?). Banks need the bailout for "liquidity", which they don't plan to release for another 4-6 months (WTF are they doing with it currently ?...paying divvies ?)

Why aren't the banks brought back to public service wages if they are owned by the Gov ?

US rescue package rescues the banks, why not the property owners ?

Now we've got our own $10B of handouts, which need to be spent to stimulate the economy.

Has inflation just been cut loose from growth ?

Since when did Australians need money to spend money ?

I just don't get it.

'cept it's going to cost us at the supermarket big time, tax time big time, and a bit less for a DVD player while Gerry will "cut back on his margins" and keep DVD players cheap.

 

[Shannow]

We need to start a commune

 

[Goreripper]

I just picked 2kg of broad beans today. I've started.

 

[Stonewall]

Haha, my broad beans are going off tap too.

 

[phlogiston]

I *hate* broad beans. Satan's arse nuggets they are. I ain't joining your commune, that's for damn sure. I'm starting my own commune, with hookers and beer!

 

[Blitzkrieg]

"Where we can marry our cousins!"
"What are you talking about Shelbyville!?"

 

[Goreripper]

I *hate* broad beans. Satan's arse nuggets they are.

You'll eat them when that's all there is.

We'll also have potatoes, carrots, onions, corn, tomatoes, zucchini, pumpkin, snow peas, bush beans, broccoli, strawberries, peaches, passionfruit, apples and mulberries this year. And chooks. And home brew. And a still. Yeeehaawwww.

 

[Bucko]

You'll eat them when that's all there is.

We'll also have potatoes, carrots, onions, corn, tomatoes, zucchini, pumpkin, snow peas, bush beans, broccoli, strawberries, peaches, passionfruit, apples and mulberries this year. And chooks. And home brew. And a still. Yeeehaawwww.

Damm i am comming to live with you Gore

 

[Priest of Evil]

I *hate* broad beans. Satan's arse nuggets they are. I ain't joining your commune, that's for damn sure. I'm starting my own commune, with hookers and beer!

I'm with you, broad beans taste yuck!

 

[Priest of Evil]

I'm struggling with the last 6 weeks worldwide.

Bear in mind that money is created through the debt process, and that it is only the continual "growth of the economy" that can pay off the interest on the debt that turns debt money into money.

Now we've got our own $10B of handouts, which need to be spent to stimulate the economy.

Has inflation just been cut loose from growth ?

Since when did Australians need money to spend money ?

I just don't get it.

'cept it's going to cost us at the supermarket big time, tax time big time, and a bit less for a DVD player while Gerry will "cut back on his margins" and keep DVD players cheap.

So not only do we live on borrowed time but on borrowed money - all wrapped up in a nanny state. Perspective is a wonderful thing.

I wonder where Dan is?

US rescue package rescues the banks, why not the property owners ?

Yeah that's great news. Its re-assuring to know that the banks who make maximum profit can get handouts for bad business choices! Bravo capitalism!

 

[Southy]

It is really typical of the political/financial cycle, you get fucked royal for years by rich conservative style Libs, who get out when it all starts to get fucked real bad, then the traditional worker type parties get in, start the repair process, get voted out usually due to dirty tactics, and then the rich conservative types take the credit for what the workers did all over again and again and again all the while blinding the public to who actually fixed the fucking probs.

 

[chrisvp]

good post , very true .
I think the shit is really going to hit the fan all over the world for a while, maybe its karma ?
I gotta say that the thought of having some execs have a bailout party for $400,000 makes me livid , they should hang the bastards as an example.

I'm struggling with the last 6 weeks worldwide.

Bear in mind that money is created through the debt process, and that it is only the continual "growth of the economy" that can pay off the interest on the debt that turns debt money into money.

RBA were being pussies trying to control growth, "boiling the frog" with 1/4% today, and another 1/4% tomorrow...at the time, I was thinking stick it to us with a full %, or even 1/2%. By the time that the frog reacted, it was cooked.

Government were hanging onto the surplus, which I understood was a good thing. Whenever there is an expansion of money supply, inflation goes up. Tax cuts or pay outs made inflation...Govt should hold the surplus.

Would have liked it if they built a new "Snowy" equivalent to shift water, move cotton and rice production out of the country, or foster the hydrology of that bloke who makes Gerry Harvey's farm green (Harvey can rot 'though).

Sub Prime hits, and they start the bailouts.

IAG (US) receive $87B, and celebrate with a $440,000 party by the execs, lasting a week. Another big wig yank gets $21M pay for 18 days.

Something stinks.

US Bailout becomes $1T, with the govt becoming part owners (nationalisation ?). Banks need the bailout for "liquidity", which they don't plan to release for another 4-6 months (WTF are they doing with it currently ?...paying divvies ?)

Why aren't the banks brought back to public service wages if they are owned by the Gov ?

US rescue package rescues the banks, why not the property owners ?

Now we've got our own $10B of handouts, which need to be spent to stimulate the economy.

Has inflation just been cut loose from growth ?

Since when did Australians need money to spend money ?

I just don't get it.

'cept it's going to cost us at the supermarket big time, tax time big time, and a bit less for a DVD player while Gerry will "cut back on his margins" and keep DVD players cheap.

 

[Shannow]

The day I read about the $400k party, I went out and bought animal farm again, started reading, and will re-read that book every year I think.

...then watched V for Vendetta.