MartinLuther

I have it on good authority that roughly half of Australians have below average intelligence. This equates to roughly half of Brits who also have below average intelligence.

sr71

But exchange rates are complex and subject to many factors. Just because one has dropped by 24% vs 10% it doesn't mean that there is a 'normal' level that they will return to.

If indeed you are able to predict currencies so accurately then you would be extremely rich.

What exactly does the UK export these days?

ABCDiamond

Migrants ?

asprilla

It used to export its expertise in finance and banking. But then all of a sudden the banks went bankrupt...

I reckon that the USD is on a slow decline, and surprisingly it might be joined by the GBP as a result of recent events.

sr71

Well there is a huge trading industry, which London has traditionally done for centuries. Not so much an export though.

In any case the world is undergoing a massive shift in power towards the East and certainly London will be playing a smaller and smaller role. The US will still be a major player because it's economy is just huge.

Amazulu

Rob a bank with a gun - go to jail.
Be put in charge of a bank and then rob it - get a knighthood and a GBP10m golden handshake.

Viz has a classic cartoon strip about this in their current edition.

Pollyana

You keep guessing mate, Witch of Mystery, thats me

That makes two of us!!!!

northernlights

Unfortunately, Australia favours the guy who is in debt and not the prudent saver.

If I have a big mortgage and can’t afford to save, therefore no savings and lose my job, I can have a year ‘mortgage holiday’ from the bank and claim Centrelink benefits.

If I have savings, due to being careful and prudent by not getting mortgaged up to the max, lose my job, then I can’t claim Centrelink because I have savings (I believe over $4000K) . No-one will give me a ‘mortgage holiday’.

So the message is, get mortgaged to max, don’t worry about saving for a rainy day because Krudd and his cronies will save you.

sr71

Exactly the same in the UK, probably far worse.

But why stop there, why even buy a house at all. If you choose not to work, or to be a serial single mother, in the UK you'll just get given a free home (mind you, you'll have to get in line behind the asylum seekers), council tax benefits, cheaper utilities and then depending on number of kids 20-30K in benefit payments. Put your back out and you could even qualify for a free car under that motability scheme.

Many beneficiaries are better off than hard working families.

northernlights

[QUOTE=brendarover;7752347]My first thread was deleted, appologies for any rules broken?

Are the Ozzy's really that stupid to rely on credit just to live daily?

I wouldn't say it was the Australians that are stupid, just the banks wanting to make money and giving easy credit, it's no longer tabboo to be in debt. It's a 'want it now' generation.

The banks make money from credit and lending. But if their lending becomes slack and banks collapse from bad lending policies - see US Sub-Prime - it's OK, the government will bail them out with taxpayers money and the cycle starts again. Don't forget those bank bosses still reward themselves with million dollar bonuses, it sickening.

bcworld

That's a lotta savings! How big is this mortgage??

I remember seeing a report about a family in Aus who kept pumping out kids they couldn't afford - apparently they were in receipt of $200k + in benefits annually. It was either on TT or ACA so it must've been true.

northernlights

You have to laugh at this, or you'll cry.

northernlights

Apparently, if you have 5 kids in Australia, you don't need to work (probably wouldn't have the energy anyway ) The benfits you receive covers an average annual income after tax. Perhaps ABCDiamond can clarify this?

TT and ACA are pathetic. I can't bear to watch these programmes, infomercials for the bogan masses.

bcworld

These people had around 10...and another on the way. The jist of the story was that they couldn't fit into their existing (free) house and would like another one thank you very much. Sound familiar? Of course it could've just been sensationalist journalism to bait the masses into a reaction - they didn't think of the asylum seeker angle though. Hmmm.

ABCDiamond

I have a friend who has 5 kids, he does voluntary work for the SES, and was offered a full time position with them. He had to refuse the job, as the job did not pay as much as the benefits.

He still took the job, but as a volunteer, (being better money). I don't think it was quite the average wage, but it was still a decent income.