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The Reserve Bank has increased interest rates...

The Reserve Bank has increased interest rates...

Old Nov 28th 2010, 3:29 am
  #301  
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Default Re: The Reserve Bank has increased interest rates...

Originally Posted by papilon
But if you don't believe The Age has a vested interest like all other newspaper organisations in a buoyant housing market then you are being nieve.

The Age is generally a pretty good well balanced paper and will run stories about problems in the housing sector, but only to a degree as it knows where it's breads buttered. It has not mentioned the lower auction clearance rates for a couple of weeks now and yesterday the main story about property was about 1 single house in Northcote selling for over 2 million.

A property sold next to me yesterday and on the big SOLD sticker that was splashed across the sales board was the logo also in bold letters THE AGE.
Good post. The low clearance rates have been reported in very careful terms.

Many positive stories have tens of tens of comments from punters talking down the market with glee.
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Old Nov 28th 2010, 3:34 am
  #302  
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Default Re: The Reserve Bank has increased interest rates...

Originally Posted by BadgeIsBack
Many positive stories have tens of tens of comments from punters talking down the market with glee.
I don't think people should be taking pleasure in either rampant bubble or crash, as both will result in huge pain for society. As for talking the market down, I'm not convinced that it's possible to destroy a market based on sound fundamentals purely by attacking sentiment. It's interesting how many parallels there are with the Irish crash so far. That's not to say that I think this slowdown will follow the same path.
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Old Nov 28th 2010, 4:42 am
  #303  
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Default Re: The Reserve Bank has increased interest rates...

Originally Posted by Seneca21
My argument is that in a world where only metal has value, there would be total lawlessness. Thing is, there is along way to go before this, and in the meantime, paper is worth less and less and less. In 1910 gold was $20 an ounce, in 2000 it was about $250 an ounce. Today it's more like $1300 an ounce. Remember, paper's increasing worthlessness is not just relative to gold, but also to property and other assets.
A really silly statement,what about the gold standard?

To create an index take gold in 1980,$850 an ounce,around 3-4 weeks wages,gold now around 6 days wages,and dickheads keep trying to tell me that gold is a good hedge against inflation.

The index,well gold at 850 in 1980 ,the DOW at 700,call it even shall we.Gold at 1300,DOW at 11000,which has had the better rise.Income,well bugger all from gold,shall we say 2% PA from the DOW.

Tomorrow all the experts in the world and all the articles in the world cannot predict the future,you have to think for yourself.What shall we do?

300k into a property,tax rebates,income expected, capital gain over the decades.

300K into shares or an index fund,tax rebates,income,capital gain over the decades.

300k into gold,no tax rebates,no income,capital gain over the decades?

Keep having our lives lead through newspaper articles and experts shall we.

Geordie downunder
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Old Nov 28th 2010, 9:36 am
  #304  
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Default Re: The Reserve Bank has increased interest rates...

Originally Posted by swans
Tomorrow all the experts in the world and all the articles in the world cannot predict the future,you have to think for yourself.
Yep, I agree with that part entirely (although maybe not the rest, but I'm more than prepared to admit I may be wrong).

Another Geordie Down Under...
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