Thread: Ratescut by 1% or 100 basis points

Thats quite scary.

Are the previous owners then able to buy the house at that price and then own it again or have a close relative do the same if they've been declared bankrupt?

Simon Im not sure of the australian ratios, but essentially at a fundamental level with a floating economy there is no underwritten material wealth (read Gold in the vault) underpinning any part of the financial system... it is smoke and mirrors that we best not disturb.

Just go out and buy toys, preferably on you platinum visa with a 20% rate and dont you dare pay it off at end of month

Im grateful that in my industry I have a limitless supply of customers - at least last time I checked people keep getting sick, or crash their bikes into posts, or try to breathe water at the reef. Until of coarse health is fully privatised and no-one can afford to pay for it?

S

I know you all think that I'm being overly pessimistic about this.. but I still think we're watching the world slip into a global recession. Maybe a depression.

All the markets were down again last night and Wall St in particular (7.3%). It's not entirely share brokers being skittish. They understand the problem and they are scared!

Just last night I heard Kevin dodging questions about houses crashing and telling us that China is full steam ahead. I get up in the morning and....

Mining sector feels pinch as Chine reduces demand.....

Originally Posted by Captain_Rightfoot

I know you all think that I'm being overly pessimistic about this.. Yes!
but I still think we're watching the world slip into a global recession. Maybe a depression.

I think you're slipping into depression and taking everyone with you Capt
But thanks for the constant negativity and stream of one sided updates

Originally Posted by FenianEel

I think you're slipping into depression and taking everyone with you Capt
But thanks for the constant negativity and stream of one sided updates

Sorry! The cricket was on the radio last night... and I'm always so much happier when I hear that.

Originally Posted by FenianEel

. If they do, I will walk backwards to Stevos, in the buff, with a feather duster up my clacker.

I think you are safe but just in case, Stevo keep the camera ready

Originally Posted by DiscoStew

I think you are safe but just in case, Stevo keep the camera ready

matt knowing you are an 'expert' and this is unlikely , it would not be a good look. But i have two cameras in case the sky does fall. But that too is Another unlikely prospect.

The word of the day is cyclical!


john

well theres a lot of the 'glass is half full' types here nothing like burying

your head in the sand, if i close my eyes it wont hurt me....

I'm no expert, not particularly good with money either, but hang onto

your hats boys because its gonna get very bumpy sooner rather than

later....

the only thing shielding Au at the moment is the recourses boom,

now what happens when the country's who buy our coal, iron oar and the

like decide to cut back on the amount they spend overseas to protect

there own economy.....

My old man lived through the great depression and one of things he

taught me was if you Carnot afford it wait till you can, theres too much of

I wont it and I wont it now, stuff knows how I'm gonna pay for it....but I

gotta have it......

That movie was spot on, how long can you keep harvesting non

re-newable stuff.....how long can you play with money that is not real...

sooner or later its gonna come back an bite you....

were due for another great depression an all of you glass half full types

you realize this..... but wont admit it.....

because you realize everything is cyclic


Roll on the revolution

Tony