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JC Political Thread - For all things political Part 2

Discussion in 'The Pub' started by minux, Apr 4, 2011.

  1. losh1971

    losh1971 Well-Known Member

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    You know BOF i had considered that a few years back. And may i will consider it again. Seems fairly easy to get in. If Hinch can do it surely anyone stands a chance.
     
  2. Skydrol

    Skydrol Well-Known Member

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    Will be economical hardship ahead, this is going to be global. All the central banks are incestuously intermingle buying each others debt.

    Example.
    https://reuters.com/article/amp/idUSKCN1NO0ZR

    "COPENHAGEN (Reuters) - The whistleblower who revealed alleged money laundering involving Danske Bank (DANSKE.CO) said on Monday that a major European bank helped process up to $150 billion in suspicious payments, or nearly two-thirds of the transactions under scrutiny.

    Howard Wilkinson, who was head of Danske Bank’s trading unit in the Baltics from 2007 to 2014, did not name the bank, but a source with direct knowledge of the case said he was referring to Deutsche Bank (DBKGn.DE), which was one of the lenders clearing dollar transactions for Danske’s Estonian branch."

    For the ones that are unawre, Douche Bank got US bailout money at taxpayers expense thanks to the Obama admin. The US Banks have been using this bank to shove all kinds of toxic assets and to do their shenanigans overseas to avoid prosecution.

    That is why the US presie want nationalism, just buttoning down the hatches. Is a hard sale, people are so disconnected from reality watching F-Book cat videos, crying for free stuff, worring for stray immigrants.
     
  3. losh1971

    losh1971 Well-Known Member

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    I have no doubt we are going to see hard times ahead in Aust. I personally believe the biggest problem we have is debt. Kevin Rudd kissed away all the savings and revenue created by the sale of public assets from his predecessor and was stupid enough to think that giving all working and those on a Pension $1000 to spend, was his idea to ease the GFC.
    I have a different opinion and would say that his aim was to help China, given his tight affiliation with the country at the time. I have only developed my own opinion but it would appear that way to me. Maybe his reasoning's were that China would keep buying our resources if we kept buying their products? If that was the case a fat lot of good that did. Price of ore dropped to next to nothing as China stopped buying it because they had enough High Risers already built.
    So here we are, Labor spent the lot and decided that was not enough, so lets borrow a few Billion from China, that will fix the problem... So 10 years on and where are we now? We are facing another financial crisis because of escalating public debt that will climb 10 fold if Labor get back in and 7 fold if Libs stay in next year.
    Trouble is that is just scratching the surface. Individual debt has never been any higher, which means the Reserve Bank are scared shitless to raise interest rates, knowing what the fall out will be when they do. But I see no choice we probably are in for a crash whether we like it or not. Interest rates can not stay as low as what they are for the next 20 years. I mean banks offering 5.5% on mortgages, that is insanely low... Some people are going to get a rude awakening when the interest rates get back to 8%-9% where they sat for ever and a day and yet people got by, by having less debt.
    I know I am being a tad negative but I'm preparing myself for the big crash which is probably less than 5-6 years away. Wife want's to buy a new property but I'm very hesitant , because I have had a $350k mortgage with interest rates at 11%-12% normal bank rate and it wasn't fun....
     
  4. losh1971

    losh1971 Well-Known Member

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    Just to add I think it is just plain ridiculous the way our lending guidelines work. Sure the Royal Commission has uncovered irresponsible lending practices. But why would people be allowed to rack up 500k of debt when interest rates are only going to head in one direction. Surely it would make sense to legislate that lenders can only lend a certain amount on predicted future affordability, due to rate rises. Oh no that won't happen because it would make sense....
     
  5. Calaber

    Calaber Nil Bastardo Carborundum

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    Responsible lenders factor an escalation allowance of about 2% when assessing capacity of borrowers to service the mortgage. That might not be enough in some cases, and there will always be the unforseen changes in personal circumstances, for which allowances can't be made.
     
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  6. Baldoldfart

    Baldoldfart New Member

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    Loshy, yoo forgot to mention all the middle class welfare lil Johnny handed out with the mining boom tax windfall. Now nobody's game to take away govmint handouts to those on up to 150K a year, fear of voter backlash.
     
  7. figjam

    figjam Donating Member

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    As a citizen of Downundastan, (that's Straya) , I don't like to use the 'lower / middle / upper classes ' tags. So teddiblibly British stiff upper lip, old chap.
    Also do not like 'the battlers on Struggle Street' tag.
    It creates a you / us / and them mentality, that people with a barrow to push like use to their advantage.
     
  8. losh1971

    losh1971 Well-Known Member

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    Unfortunately BOF I'm not overly familiar with the hand outs given to the well off. What i do know is the biggest political concern Australians have is debt followed by employment. For some reason the Commonwealth Govs for over 10 years have failed to reduce the debt. FIIK why the Libs and Labor keep handing out money whether it be a little or a lot when clearly most Australian citizens would be happy for cut backs if it meant wiping our national debt.
     
  9. Calaber

    Calaber Nil Bastardo Carborundum

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    We are identical in our views mate. If one statement really pisses me off, it's the old "I've been a battler all me life." It turns my attention off immediately.
     
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  10. losh1971

    losh1971 Well-Known Member

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    yeah gotta love it when someone pulls the Aussie battler card....
     
  11. Skydrol

    Skydrol Well-Known Member

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    I see...
    If I ever going to use it, I will put a trigger warning.;)
     
  12. Calaber

    Calaber Nil Bastardo Carborundum

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    It's a hackneyed Aussie expression Skydrol. I've never heard an American use it.
     
  13. Skydrol

    Skydrol Well-Known Member

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    Your are right, 99.9% I will not use it but could not resist to poke some fun at you. Just been a sarcastic smart ass. Hey, we have to laugh in this shltty world :D
     
  14. losh1971

    losh1971 Well-Known Member

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  15. Skydrol

    Skydrol Well-Known Member

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    Very good podcast.

    Financial Expert and Author, Paul Mladjenovic, rejoins the program to discuss the disturbing rise of socialism in the United States. His family's escape from communist Yugoslavia has taught him the extreme danger of socialism in practice. He contends that todays youth are being indoctrinated in primary and post secondary schools at the detriment of our country. Mass illiteracy of practical economics and the virtues of a functioning free market system is plaguing our country. This track will only usher in mass poverty, less freedom, and wide spread misery on our people. You can see more of Paul Mladjenovic, including his ongoing blog and his many books, on his website at http://RavingCapitalist.com

     
  16. Skydrol

    Skydrol Well-Known Member

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    Macron, what a shill... if that happen in the US, the 2nd Amendment got ya covered.



    https://www.sgtreport.com/2018/12/r...-with-citizens-protesting-corrupt-government/

    "many of the police officers in France understood the anger coming from the citizens. Instead of clashing with the peaceful protesters, many of the officers were seen joining them in solidarity."

    Peaceful... they look pissed to me. Was bound to happen, people will snap eventualy due to "oppression".
     
    Last edited: Dec 5, 2018
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  17. losh1971

    losh1971 Well-Known Member

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    marty351, figjam and Skydrol like this.
  18. commodore665

    commodore665 expat Saffa

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    My wife is from Marseille,she is the typically French woman , even has the glasses that only a French woman can look good in , she can’t stand Macron
     
  19. Skydrol

    Skydrol Well-Known Member

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    When Marine LePen ran for office said "France will be led by a woman, either me or Angela Merkel!"



    Macron... well, he is a pussy anyway.

    "All Wars are Banker's Wars"
     
  20. Skydrol

    Skydrol Well-Known Member

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    According to Eduar Bremo, a member of Goodyear’s factory-workers union, the company is not only paying (token) severance packages to its more than 1,200 employees but is also giving each 10 tires, which have become hugely valuable in the shortage-wracked socialist paradise.

    https://www.zerohedge.com/news/2018...rs-venezuela-plants-gives-out-tires-severance

    A Mexican coworker told me, that got paid with 10 cases of Ramean Noodles when they closed the plant in Mexico.

    What about in Oz, what people got?
     

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