the troubadour

On that criteria no one would be spending any money and the system would not function. The very high income I would suggest have all the time required to spend their wealth, but many are plotting how to further increase what they don't usually need, that being more money. While the poor struggle to accumulate it in times of high cost on most everything.

Stuck in Auckland

That just highlights that even at different parameters on a scale of poor to rich there still resides differences at each point.

No doubt there are people who plot as you indicate but they would be in the minority. For the successful people in my network which you would deem wealthy money has nothing to do with their motivation or sense of being. They have a passion and focus on that passion has rewarded them.

the troubadour

Well those with it often claim such. Make it all sound so easy. Do hope those that you know, whom, I'd deem wealthy, do something of note with some of their wealth. Not pure self interest. My experience being it does give rather a lot of 'sense of being' to a lot of people. It takes a lot more than passion alone.....

Beoz

Is that the equivalent of those who plot getting more for doing less. Nah. Those people are leeches contributing less and less to the bucket.

Beoz

So I read today first home buyer numbers have increase by a whopping 18%. Largest numbers in 5 years brought on by government crackdown on investor lending.

Considering the author of this thread has a bee in his bonnet about money, especially cost of housing, looks like someone high up has been reading his posts.

As always I say, onwards and upwards. No point being a pessimist.

the troubadour

Author of thread notes that Australia's personal debt has increased to 200% of earnings as well. Obviously banks back to lending with foreign investors in decline. Banks stick with what they know and like lending for houses. Lack of imagination continues.

the troubadour

Rather the reverse. Those removing from circulation and taking ever greater percentage of wealth is drying the well for others. Probably the reason you left UK to come to Australia.

Beoz

Of course its going to increase when interest rates decline.

When interest rates are lower people can borrow more.

Common sense.

Beoz

But its not being removed from circulation. That's the point.

Sort of. Economically the UK was struggling in 2008. It became harder to extract money from peoples pockets (the right way - not your Robin Hood way). So I moved to Australia where the job of extracting money become a lot easier, and has remained so ever since.

the troubadour

Boez.....Reverse Robin Hood. Steal from the poor to give to the rich. Yep. Just what the country needs, or those in the conservative side of politics, which include most 'factions', these days. I expect they 'fast tracked' up your 457 application as well.


As for the money, well the trillions out of circulation in tax free havens doesn't help. I'd pretty much say that was out of circulation in a number of ways.

Beoz

I have already told you. I extract (not steal - I provide stuff in return) from wealthy corporations. Who said the trickle down effect doesn't work? You maybe.

Your ability to comprehend simple business is really low, exceptionally low.

One doesn't need a 457 when they have multiple passports.

the troubadour

LOL. Someone whom still believes in the trickle down effect. How quaint. How eighties. How ever low my business comprehension may or my not be it dwarfs/devours/drowns/tops/ yours. Trickle effect ROFL....And here was I thinking no sense of humour.....I erred there sorry for that.....

BadgeIsBack

Trickle down effect still exists...I beg to differ..

Any analyst who earns 150k a year sitting at a desk. That's simply no risk or other capital cost involved..someone else is taking the risk and getting the profits..but you are earning more than an admin clerk on 60k say.

Any place where you earn an hourly rate in excess of the average and dont put in capital is a good example. If this was not the case we would all be sole proprietors charging 60 bucks an hour...and stumping up the capital..we would all be hairdressers..

Beoz

The hairdressers are living off trickle down. Without money trickling down from the wealthy to average Joe (or Josephine) the monthly hair colouring is non existent.

Even a die hard unionist like Ozzie is living off trickle down. Ozzie thought he was going to be put out to pasture and retire but along came internet shopping and his job remains.

Its all about stimulation.

The bottom line is, no matter what spin the lefties put on it, the wealthy always pay the bulk of tax and support the poor.

Beoz

It keep most off us in good quality lives.

I am sorry to hear it doesn't work for you.

Here's a clue. Its been around for a long time. Jump on board.