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About Deflatorr

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  1. +1 With a wheelbarrow full of cheap debt.
  2. Exactly, I couldn't have said it better. We are little better than a banana republic not unlike Brazil and other south American countries where mining and agriculture are the major parts of their economies. Yet we live high on the hog. Not much poverty. Times are good. The secret ingredient is debt, heaps of it, but the game is just about up.
  3. Wow could they get any more desperate? Their shrieking is hurting my ears.
  4. Agree. This is what one of my mates has done recently. A FHB who took the bribe to get into debt. He's now living with the in-laws, not even renting. There would be others like that too. Demand well and truly gone.
  5. I thought they were given free money from the government to lend to anyone who wants it but the problem was nobody who didn't already have debt up to the eyeballs wants it. Almost an identical situation is unfolding in Australia.
  6. Yes its easy to save when someone else is paying the bills. Also I notice she moved back to her mother's when they broke up and not into another place on her own... reckon he got tired of paying all the rent while she had an IP.
  7. this is good news! I read the article as: vested interests and RE mouthpieces confirm the begining of a blow off top. They had better be careful reporting these figures - falling sales volumes and soaring medians - because blow off tops are classic symptomns of a dying bubble. They wouldnt want foreign banks or rating agencies getting wind of a deflating bubble here would they?
  8. i'm fairly confident the banks haven't moved enough short money to long(er) money so a rate cut would be fairly disastrous at this time, or as you say an RBA rate cut will be met with double rises at the banks. One of the reasons our dollar is so high and Australia looks so propserous is because we have some of the highest interest rates in the world at the moment. All we have at the moment to make our banks look good to lend to is dirt and interest rates. Oh and govt guarrantees but that comes back to dirt i guess.
  9. Bear-pron for sure! Just the ticket this morning. Multi-speed economy, not just 2! Sell now or miss out forever awesome stuff.
  10. or just buying 3D tvs and new cars as most of my indebted friends have recently done with their 'equity'. They should really be spending it on their half-finished renos or leaving it the hell alone.
  11. Perhaps it is becoming the phrase of choice to throw at pushy REAs trying to flog off overpriced properties when you want them to leave you alone? REA: Buy now before its too late! Buyer: Nah mate.. REA: go onnn. Trust me, doubles every 7 years! You cant go wrong with property. Good old bricks and mor... Buyer: Uhhhh.. Global economy? REA: Damn!
  12. come on ubank, you can do it too!
  13. restrictive rates? It wasn't 3 years ago when higher rates than these were considered 'expansive'.
  14. a resounding 'yes, yes and yes!' hell, if house prices were around 250K median then interest rates could be at 15% (priced to reflect the current levels of risk of course) and many would be fine with a 20% deposit. Banks would be happier, due to correctly priced money, perhaps more people would take on smaller loans so their profits would be comparable to now. The financial system more stable. The economy more robust on good foundations and because there's generally less debt per household, could withstand several percentage points variance in rates if risk suddenly increased from some shock. These days you get a tiny 1/4 of 1% rise and everyone's up in arms and yelling about how the economy is rooned... Rooned i tells ya!! This is stable?
  15. Ha, the same world tour they ran from with their tails between their legs as soon as people started asking how 'all is ok' it really was...