NR,
What I don't get is, what is going to cause res property to fall 50% within 12 months. You've been saying it for a while now, and NEVER provided any rational thoughts about why it will happen ? The only thing I can glean from your posts is, that it's happened elsewhere occasionally, so it MUST happen here this time. You're coming across (to me anyway ) as a religious zealot who 'just knows' it will happen, with no logical basis for your beliefs. Last year you promised to give us a detailed explanation when you had some time over Xmas - perhaps you could start a new thread and enlighten us all.
I'm not saying that it won't happen, it just appears to be one of the more extreme views that is likely to cause something as bad as the GD.
Looking forward being enlightened... Keith
Hi;
Keith if I am like a religious zealot then the blue sky brigade on this board are the Sodom and Gomorrah crowd in the Jewish biblical sense, not the homophobic Christian sense. The Jews believed God destroyed Sodom in Rabbinic writtings because the Sodomites committed economic crimes as well as blasphemy and blood shed. Keith when judgement day comes whatever you do just don't look back!
The defense on this board that with the financial depression the rest of the world is experiencing is some how going to pass us by because "things are different here" is just laughable. A few months ago this same pie in the sky SS think positive group was telling us that China was going to protect us... The recent events now point to 50 million Chinese unemployed by 2010 and Japan our largest trading partner is in free fall. This means huge social unrest in our neighbourhood.
As you know for over a year I have been warning about the soft financial depression that is coming on this board and I have taken it on the chin with my predictions most of which are still to come about. I got it right with my call that the ASX would fall to 3500 when it was around 4900 and I am being proved right about my call that the reserve bank interest rates will fall to 2% that is when the variable rates were approaching 9%. The ASX will fall to 2200 and the Aussie dollar at the bottom will be worth .38 cents. Common sense isn't very common...sorry I can't find the reference for that one either
On page 11 of the Australian Financial today the International Monetary Fund (IMF) managing director Dominique Strauss-Kahn said that the advanced economies are already in a depression and the financial crisis may get worse:
Is that the sort of proof you looking for Keith ? or shall we just dismiss him as just another economist that can't chew gum and walk at the same time?
What amuses me with the denial on my call that residential property will lose 50% of its value in the current financial tsunami is just because you haven't seen it before it can't happen; Well Keith the Europeans had their black Swan event and the somersoft gear up to the back teeth mob no matter what, are about to experience their perfect storm black swan event
Reasonable people try to get on with people even when change is necessarry because they don't want to upset other people. Unreasonable people don't concern themselves about upsetting people when change is necessary. Progress is dependent on change. Therefore all change is dependent on unreasonable people.
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