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Search: Posts Made By: Budawang
Showing results 1 to 25 of 41
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Forum: The Barbie
Aug 14th 2012, 10:43 am
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Ok, point taken. Chris for PM!
Forum: The Barbie
Aug 14th 2012, 10:42 am
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

A lot. The "boom" was a bit of a mirage.
Forum: The Barbie
Aug 13th 2012, 9:40 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Chris, I love your happy go lucky optimism but, gee, thank God you ain't in charge of running the economy. ;)
Forum: The Barbie
Aug 13th 2012, 9:28 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

You can also argue that the underlying problem is there is too much credit in the world. Credit is the flip side of debt. There is nowhere for this money to go. The funds flood into investment - now...
Forum: The Barbie
Aug 13th 2012, 8:47 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Evans-Pritchard is one of the best commentators around.

Some quotes that support what I've been saying about the relevance of private debt:

"Five years on it is clear that subprime was merely...
Forum: The Barbie
Aug 13th 2012, 8:51 am
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

That's a pretty good summary of what should happen, but hasn't. I would add a Stage 5 which has reforms to the financial system so there is less incentive for banks to lend for speculative purposes,...
Forum: The Barbie
Aug 12th 2012, 11:05 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Not sure he went to school.
Forum: The Barbie
Aug 12th 2012, 10:26 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Ditto. There's no point pretending things are fine in the UK and it has a bright economic future when this is obviously not the case - unless you belong to the Ostrich School of economics that is....
Forum: The Barbie
Aug 12th 2012, 9:59 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Australians are increasingly looking for cheap overseas property opportunities:
...
Forum: The Barbie
Aug 12th 2012, 9:45 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

I'm not really serious about buying property there - it's purely a holiday trip - but at some point if Italy leaves the euro and property prices crash relative to Australia it could be worth...
Forum: The Barbie
Aug 12th 2012, 9:33 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

On holiday - I'm not moving there. That being said, the best investment opportunities are often to be found when you're in the middle of a crisis. There might be some real bargains in Italy if it...
Forum: The Barbie
Aug 12th 2012, 9:15 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Sure you might make a killing, but you also have to consider the long-term prospects of the UK economy and Europe. Not a problem if you're a self-funded retiree with income from Australia.

I'll...
Forum: The Barbie
Aug 12th 2012, 12:21 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Er, how about economic statistics? How about facts? Or maybe the UK bureau of statistics is just making it all up, including the falls in GDP and the sky high debt levels as some sort of global...
Forum: The Barbie
Aug 12th 2012, 12:16 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Steven Keen is not an investment guru and he has readily admitted that market timing is not one of his strong points. Real house prices are down about 9% (in real terms) in Australia from their peak...
Forum: The Barbie
Aug 12th 2012, 4:26 am
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Thank you for your considered and well argued reasoning. It's great to see we have some real intellectual heavyweights on this forum.
Forum: The Barbie
Aug 11th 2012, 11:12 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Another good interview from Steve Keen

http://www.finnewsnetwork.com.au/archives/finance_news_network21311.html

I like his analogy of quantitative easing being like kicking a snowball down the...
Forum: The Barbie
Aug 11th 2012, 11:10 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Nobody has said the UK will "go under". However, it will have a prolonged, grinding downturn similar to what Japan has experienced. Just saying this won't happen (even repeating yourself many times)...
Forum: The Barbie
Aug 11th 2012, 12:56 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

The banks are not lending the vast sums of free money given to them. Some of it they're using to inflate the Aussie dollar like a Michelin tyre man and speculating on commodity prices. What they're...
Forum: The Barbie
Aug 11th 2012, 8:32 am
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

The Japan/UK comparison is very interesting. Japan started deleveraging 20 years ago. While their economy experienced very low growth during that time, Japan also had a strong, globally competitive...
Forum: The Barbie
Aug 11th 2012, 1:53 am
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

You might hope that depressed domestic demand would reduce imports which would lead to a reduced deficit if exports hold steady. Unfortunately, Britain is being hit by crumbling domestic demand and...
Forum: The Barbie
Aug 10th 2012, 11:39 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

http://www.telegraph.co.uk/finance/economics/9464091/Shock-trade-figures-deal-a-blow-to-UK-recovery-hopes.html

More bad news on the economy. This is unrelenting.
Forum: The Barbie
Jul 31st 2012, 10:09 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

They sure don't pull any punches. We need more journalists like them who call the criminals who run our banks, media and governments to account. :thumbsup:
Forum: The Barbie
Jul 31st 2012, 12:07 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Here's a clip of Max Keiser at his best, contrasting the Penn State child rape scandal with the rapists behind the GFC, including Murdoch, Diamond and Blair who were key players in the troika of...
Forum: The Barbie
Jul 30th 2012, 10:45 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

It was rampant lending that caused house prices to rise and not rising house prices that caused rampant borrowing.

That's a key distinction as a lot of people blame the borrowers, but I think the...
Forum: The Barbie
Jul 30th 2012, 10:04 pm
Replies: 507
Views: 35,399
Posted By Budawang

Re: Britain: an economic train wreck

Glenn Steven gave a very interesting speech the other day. Who knows if he's right, but it gives a sense of perspective re the Australian economy and house prices.
...
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