bloody hell jman, i stand corrected, it is the US war machine after all. man that's a lot of fuel, no wonder they want to invade arab countries.
bloody hell jman, i stand corrected, it is the US war machine after all. man that's a lot of fuel, no wonder they want to invade arab countries.
Couldn't agree more, I heard yesterday that interest only protion of a housing repayment is now at 11% of the goverments so called average wage. that's a right shocker like no other I ever heard.Originally Posted by Noelm
The worst the number had ever got to under any other government was 4%, 2% in the late 70s I believe, the great deprssion had nothing on our 11%!!!!, morgage defaults are up 400% last Quarter, the real interest rate is somewhere like 20+% if related to the last recession apples to apples.
After this goverments care, there is no fixing us without some big big pain, the US is in nowhere the strife we are in. Interesting times ahead, they sold us out for the last 10 years it's payment time very soon. Gloomy I know but had to come with economic missmangement this bad for so long. Fuel will be the least of our problems.
cheers fnq
In the usa they say houses still have to come back down a bit and they are 4.5 times earnings, here in aussie houses are 7.5 times earnings and our interest rates are way higher, the demand is being falsely pumped up by immigration and 50,000 457 visa workers coming in every year, investers who borrowed 300k to buy a house to rent out are paying 600 per week on thier loan and only getting 320 back in rent, not a good investment is it?, the real estate industry has a lot to answer for, big falls coming to real estate here in australia.
At least America added to its housing stock. We didn't. We just agreed to pay each other a lot more for established housing.
Now the great unravelling begins.
Our markets are in for a hell of a shock. And soon if the latest analysis is correct.
Confused? I am. Even the precious metals markets are not able to make much sense of what will happen in the near term but are indicating that asset prices are way overvalued and hint that politicians will provide the same answer as always - increase the money supply.
Will the value of your house and boat go up? They should if we look at inflation only. But then we haven't seen a credit squeeze for such a long time that consumers and most lenders have forgotten what they were like.
Personally I am trying to figure out a way of putting a sail on the dinghy
I think, but pray that I am wrong, that we are about to learn old lessons of being free of debt, diligent saving and conservation of resources. Maybe even rationing of fuel.
Well as it looks I may be off to Iraq just to get that first house. Too busy pissing my pay away during the boom, now for the sacrifice to get ahead. I don't blame the gov't for the interest rate rises. They have provided us with a very good run over recent years. But being loaded up with a mortgage didn't stop the majority of us from spending our last few bucks on plasma's and "nice to have" items instead of putting it into the mortage. I think that has a big part to play in it and for some part we can only blame ourselves.
Cheers Chris
Democracy: Simply a system that allows the 51% to steal from the other 49%.
Lovely80, Totally Agree! But I'm Not Going To Wait Till I'm 60 Plus To Go Out And Enjoy This Life I've Been Given. I'll Spend My Money On Luxuries If I Want And If I Have To Cut Back Elsewhere, I Will. You're A Long Time Dead!
Geoff
MAY THE FISH BE WITH YOU!
does anyone really measure the fuel "economy" of their boat and be guided by that as to their boating habits?????
don't really care what oil price is at..nothing I can do about it.
Probably not but it is a factor that might be of increasing importance for those loaded up with mortgages, mouths to feed etc.
Kagey thats fine mate I'm in the same boat as you. I just hate hearing about how interest rates are going up because Johnny's stuffing something up. He didnt make us borrow for stuff we don't need. He's not making us spend every cent we dont have.
Cheers Chris
Democracy: Simply a system that allows the 51% to steal from the other 49%.
That's not a bad philosophy provided you remember and invest for the possibility that you could also be a long time old and broke.
Not saying that this applies to you but it is an argument that I have had with my children. They tended to follow the same ideas and it took a bit of talking and showing to convince them to pay attention to saving and investing at least 10% of their income. Wish that I had argued more strongly for 15%.
I am not talking about scrimping and saving because life is more than about that but prudent awareness of the power of compounding is essential. The problem with compounding is that it works in both directions - as a saver it works for you - as a spender and borrower it works against. Fortunately, after years of coaching, they are very familiar with the rule of 72. It seems strange that it took them so long to grasp the importance of that rule.
True Enough Tigermullet. We Are Fortunate Enough To Have A Double Income And This Has Allowed Us To Get "some Good Stuff" But We Both Work Bl**dy Hard And Enjoy Our Downtime When We Can, Either 4wding With Our Club Or Going Out Fishing In Our New Boat(soon!!!) Money Still Needs To Be Put Aside For A Rainy Day, But I Don't Think Fuel Prices And Interest Rates Are Going To Put Too Big A Dent In Our Lifestyle. If You Want It, Get A Better Job Or Work More ,so You Can Get It.
Cheers
Geoff
MAY THE FISH BE WITH YOU!
That's the ticket, Kagey! Working harder or smarter is often the solution but I was talking in general terms not personal.
No more jobs for me - retirement is a nice time of life and boating whenever one feels like it is one of the benefits. The best part is that one can wait for weather that suits rather than missing out.
I always seemed to be working when the weather was perfect and time off was greeted by howling winds and rain
Yes. Aint That The Truth! Bet You're Happy Now You Can Go When The Weather Gods Are Smiling!!
Enjoy Your Retirement Tigermullet.
You Obviously Deserve It.
Geoff
MAY THE FISH BE WITH YOU!
America's war machine?
YAWN
"When we remember we are all mad, the mysteries disappear and life stands explained.-- Mark Twain"
don't worry el carpo, if we were faced with a choice of fried rice forever or america's war machine. 95% of us would pick the war machine all day every day.
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