Mr Medved

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Everything posted by Mr Medved

  1. I'd actually consider buying a flat in Russia. She was there twice this year, and even checked out some apartments for sale. A two room (1BR) place would be just over 100k (+reno and furnishing costs) and three room (2BR) closer to 200k. I'd favour buying a dump and renovating. Her best friend has moved there so could manage it for us. She's from Kazakhstan but bought an off-the-plan apartment when the ruble dropped through the floor about three years ago. However, they are highly illiquid and GST equivalent of around 20% is payable when selling, so it's a buy and hold proposition. A dacha in Australia is still ridiculously expensive. I think a half-way compromise is just to open some term deposit accounts to show progress towards buying, without actually taking up a mortgage.
  2. I'm not folding yet! I'm not called Medved without reason!
  3. I'm now getting the full degree from Mrs Medved on becoming a mortgage slave. Holding off, need the market to start to turn or else it becomes really hard to keep saying it's a really bad idea to take on a mortgage right now in Oz.
  4. I think I've said this before, but I was profiled the last time I went to the UK. Had to wait almost half an hour while the police did a background check. The reason for being delayed was because I "travel a lot". The USA officials sometimes grill me on how much cash I have when I'm leaving. Actually, last time was quite pleasant, maybe because I entered/exited via Dallas. The Texans may be a bit more friendly than other places. Almost always get my bags swabbed for explosives. Seems to be just a routine thing nowadays. My sister's bag got triggered when exiting the U.S. and she missed her return flight. Apparently the sodium or something like that in her peanuts was the cause for alarm. So don't travel with peanuts!
  5. Trying to find a high resolution version of this image. I originally saw it on as old-time bubble cartoon. On the left are people chasing bubbles, on the right are people working and creating wealth. If you have a copy or know where to find it I would appreciate a copy!
  6. Yeah I read that. It was so long I was fatigued to post it here. I stopped waiting for Godot and got on with life. It's been almost a decade waiting for things to roll over. I think the closure of the auto industry will be the tipping point, plus instability in China. Interesting to see both governments in China and Saudi Arabia go on anti-corruption purges. Not sure it's completely altruistic. Until China rolls over I think Australia will keep limping along. The best bet Oz has is to be the money laundering safe haven it has promoted itself to be, but go full retard. I get the feeling it's more likely to be an external trigger than an internal one. Australia is usually five years behind the rest of the world. Keep in mind while Australia has a dirty shirt it may not be the dirtiest... so collapse is all relative. If there's a drop in both property prices and forex rates watch for foreigners to buy up everything. It's always a good time to buy! Governments can keep pumping stimulus so as long as they can keep rolling over/selling bonds. And I think respective central banks may be buyers similar to those in the EU. So don't watch a pot to boil. It's cracked and going to blow, so make the best of a bad situation and have an exit plan. The tough thing is if China goes down the whole world goes down, so we're all in the sh*tter. What politicians do is almost irrelevant. I'd like to see them go full retard (said that again) by having a FHOG of like $100k and $200k in regional areas. People haven't woken up to the fact that Australia is trending towards an economy like Argentina. It's totally depressing, I'd rather not think about it else turn into a nihilistic wreck. If none of that was coherent it's because I'm quite tired. So yeah, it will break but live it up before Hades comes to your neighbourhood.
  7. Kicking myself I didn't save the link, but about 8 years ago there was a great speech by, I think, the finance minister of Singapore. He said those countries with massive debts will pay through currency devaluation. But he said it nicer.
  8. Sounds like Frydenberg is in a similar position to the pollies that the High Court rule were not dual citizens.
  10. The claim is dubious unless there's a dramatic drop in auction clearance rates. A fall like that would mean (much) less than 50%. I'm not sure what the current stats are.
  11. Cobran stopped because he was too busy. I've stopped because I'm too busy too. I assume he still blogs, haven't check for a while.
  12. I'm leading a public workshop in November in Sydney. Details can be found here: As I'd like to boost numbers and as a gesture of brotherhood I'd like to offer anyone here a $200 discount on the Sydney workshop. Offer is valid to friends, family and mortal enemies (just don't tell the latter). It comes from Japan so you know it will be cool. Send me an IM for the discount code (I forgot to mention that).
  13. Ran into an old friend yesterday. I introduced him to Armstrong around seven years ago. He said he stopped following Armstrong's forecasts about a year ago, said if you follow Armstrong you lose money (though did acknowledge he's a smart guy). He did recommend the work of Robert Prechter.
  14. I have a friend on welfare. Says he gets $2500/fortnight plus public housing (has three kids, the oldest is 18 I think, one is autistic). Children are expensive but as a parent you don't rationalise them in terms of dollars. My estimate is putting one child through child care for five years (3 days a week) is roughly 100k. That's essentially a post-graduate degree. The government provides a rebate but it's a little under half of that cost, and they can always revoke it. Toys and clothes actually aren't too expensive, though I haven't got to school clothes yet. I suspect food will get a lot more expensive. Well over half of our living expenses goes towards rent and child care. And we live in a two bedroom apartment. So it's house prices again - jacking up the cost of living. Solomon - I don't think your children will really appreciate what you do for them until they have children themselves. Brings a whole new perspective.
  15. I'm on James Altucher's mailing list. He recommends not having more than 2% of your savings in any one investment. That includes mortgages. Yes, that' s two percent. He's apparently made and lost millions on several occasions.
  16. Your honour, I'm not guilty because I didn't know I couldn't murder that man...
  17. I haven't checked since Sunday. Both his blog or war.
  25. (one for Swaize)