It's deja vu all over again.

Rolf Latham said:
I do agree that it should have been obvious to the Euro Lenders...........I am starting to feel that the US is actually more sound at a more fundamental level.

The entitlement mentality that exists as an eg in Germany, isnt as strong in the US.

Interesting times, beats a TV show !
rolf
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And of course the US banks shafted the whole world with their AAA rated worthless garbage including small banks and countless institutions and funds all over the world whose failure would cause havoc (the ole too big to fail theory) while getting bailed out and picking up bonuses in the process. That includes the ole fox Buffet.
And then the lower USD makes them cheaper than anywhere else helping their exports while decimating foreigners USD holding values. Unless they buy US products, bringing the decimated currency back. Brilliant.
And when it is convenient for them, the USD will suddenly rise squeezing them and us harder.

Conspiracy? Don't know, but if you were to plan it, can you think of a better way to screw the rest of the world?

Yup, beats TV anyday!
 
Aaron_C said:
And Shadow, what is your reasoning for the post-GFC boom in Melbourne (and Sydney)?
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Perhaps a better question is why did the pre-GFC growth end.

Prices were rising pretty strongly until late 2007, but that growth was killed off because interest rates were lifted too high, along with the expectation of a severe recession and unemployment ahead. And then you had people like Steve Keen on the news every night preaching about the imminent 40% crash.

When rates dropped back down, and the threat of recession/unemployment began to fade, growth resumed course. It resumed course at greater strength than before because rates had been slashed so deeply, and also because of the other stimulus and grants.
 
Piston Broke said:
Conspiracy? Don't know, but if you were to plan it, can you think of a better way to screw the rest of the world?

Yup, beats TV anyday!
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there'll be a drop in the USD previous to when QE3 begins, followed by a decent rise, along with the DOW and S&P once implemented.

within 3 days of holding office, the new ECB chairman lowers IRs and bascially declares the ECB will print whatever they have to, for as long as they have to; to maintain solvency for it's members.

it's a page off Bernanke's desk.

next thing the europeans start looking towards their gold reserves and realise Germany's aint where it should be.....
 
Shadow said:
There's no need for the naughty words.

I'm not sure where 'Austrlalian' is, but what I said was 'Wasn't that followed about a year later by a substantial property boom in Australia?'

Melbourne rose by about 30% (and Sydney by about 20%). If you don't think those were property booms (or you don't think Melbourne/Sydney are in Australia) that's your problem...

You were expecting a fall in prices around that time I believe, rather than the booms we experienced?

I'm actually quite surprised you missed the post-GFC booms.

It was reported in most papers (both print and online) and there were even threads in this forum discussing it.

Keep your eyes peeled in case you miss the next one.
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Righto.

I think I see what you did there. So,
  • According to RPData's fancy AVM tools, my place is up 30% YOY.
  • My place is in Australia
  • 2011 has seen a substantial property boom in Australia

Neat!
 
Aaron Sice said:
there'll be a drop in the USD previous to when QE3 begins, followed by a decent rise, along with the DOW and S&P once implemented.

within 3 days of holding office, the new ECB chairman lowers IRs and bascially declares the ECB will print whatever they have to, for as long as they have to; to maintain solvency for it's members.

it's a page off Bernanke's desk.

next thing the europeans start looking towards their gold reserves and realise Germany's aint where it should be.....
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Perhaps we could invite the Germans to take over Italy, Spain and Greece, but this time without all the Blitzkreiging.

Given they're likely to be paying for them anyway, it only seems fair.
 
I would not be surprised to see the EU economic policy change ....

The Southern European nations will have some sort of limited membership whilst Germany, France, Britain, Benelux, and Scandanavian countries have full membership!

Will be interesting to see....as I said future third world countries!

Token Funder said:
Perhaps we could invite the Germans to take over Italy, Spain and Greece, but this time without all the Blitzkreiging.

Given they're likely to be paying for them anyway, it only seems fair.
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Perhaps we could invite the Germans to take over Italy, Spain and Greece, but this time without all the Blitzkreiging.
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Imagine some of the conversations, 'What do you mean you close your business after lunch for a rest?'
 
pieman said:
sash said:
Hmmm.....that is an exception to the rule.


I work with a lot of Australian IT contractors and...some of them are really lazy. The issue comes down to the management and process structure.





not in my experience, they have tried and found some very simple process roles can work but roles where you have to think outside the square don't . Together with the turn over of staff in those countries can evaporate the cost savings. Sure, at a high level paying 10 times for an Aussie seems crazy but at least in senior architectural or client facing roles it's a bad decision to offshore. For example, mates of mine currently work for a big insurance company who went on the offshore path. Operational roles have worked ok but at least 6 people I know are back after getting redundancy. Now they are contractors on double the money with no end in sight
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I farking hate off-shoring right at this very moment
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depreciator said:
Imagine some of the conversations, 'What do you mean you close your business after lunch for a rest?'
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haha - a real eye opener. Nothing like walking into the bank to see the money stacked up behind the counter (no safe), the tellers chewing gum, smoking and service non-existant ... and that was before they closed for 2 hours for lunch and siesta.
 
I just want to know who you both are...Shadow and TF so I can put your banter into context. Apparantly you are Chris Joye shadow and TF you must be 2 ic at westpac or nab?

Just mucking around keep up the banter fellas.
 
depreciator said:
Imagine some of the conversations, 'What do you mean you close your business after lunch for a rest?'
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On the contrary it would be "what do you mean you work 7 hours a week more that we do and until 10pm at night"

lizzie said:
haha - a real eye opener. Nothing like walking into the bank to see the money stacked up behind the counter (no safe), the tellers chewing gum, smoking and service non-existant ... and that was before they closed for 2 hours for lunch and siesta.
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When was that 20 years ago ? The old stereotypes live on.
 
True.....but the key is also prodictivity due to automation.

By the way Australian customer service is not better.....everthing is manyana or never!!

joeExpat said:
On the contrary it would be "what do you mean you work 7 hours a week more that we do and until 10pm at night"


When was that 20 years ago ? The old stereotypes live on.
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Marty McDonald said:
I just want to know who you both are...Shadow and TF so I can put your banter into context. Apparantly you are Chris Joye shadow and TF you must be 2 ic at westpac or nab?

Just mucking around keep up the banter fellas.
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I know Mr Joye rather well and I can dispel any notion that he and Shad are the same person ;)
 
Originally Posted by lizzie
haha - a real eye opener. Nothing like walking into the bank to see the money stacked up behind the counter (no safe), the tellers chewing gum, smoking and service non-existant ... and that was before they closed for 2 hours for lunch and siesta.
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joeExpat said:
When was that 20 years ago ? The old stereotypes live on.
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Hong Kong? not here.

But the Spanish work day seemed pretty civilised, 20 years ago. But there was 2" glass between you and the money in Spain.
 
Sunfish said:
Hong Kong? not here..
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pfff sounds like a nth qld bank with opening hrs from 10am-4pm.. do you still stand in a queue up there to see a teller :rolleyes: ...here you have someone greet you at the door, take a number and have a seat before being called up, otherwise you get directed straight into an office and served a tea/coffee
 
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