Australian Politics Forum - How Many Australians Are Living In Poverty.

John Smith Gold Member Offline Australian Politics Posts: 78311 Gender:	Re: How Many Australians Are Living In Poverty. Reply #120 - Jan 7^th, 2014 at 2:04pm Grappler Racist Filth wrote on Jan 7^th, 2014 at 8:58am: I suppose in the wild they eat what they can get... I hear Ratsak works well.
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Sir lastnail

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Re: How Many Australians Are Living In Poverty.
Reply #121 - Jan 7^th, 2014 at 3:16pm

Bam wrote on Jan 6^th, 2014 at 2:44pm:

Lord Herbert wrote on Jan 6^th, 2014 at 11:49am:

Quote:

More than two million Australians in poverty

Date
October 14, 2012

Needless to say, it's utter nonsense.

People are pouring into Australia to get onto the gravy train of a well paying job, or a Paid Unemployment lifestyle, or some phoney 'Disability Support Pension' that's signed off by one of their compatriot doctors here in Australia who are regularly used for these nefarious purposes.

"Two million living in poverty" translates as two million living beyond the scope of their welfare payments, with the high probability of heavy drinking and smoking being part of their weekly budget.

If you think people are "living beyond the scope of their welfare payments", I challenge you to live on $62.50 a week for a year. That is how much is left after a Newstart recipient on $250.50 a week and $62.00 a week rent assistance pays their rent of $250 a week.

Out of that $62.50, you have to buy everything else.

Why on earth is the government propping up property hoarders and speculators with yet more middle class welfare in the form of rent assistance ?

The real welfare recipients are the people who hoard and speculate in property and the people on the dole are just the conduit to deliver the welfare to them Sad

Go figure

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Laugh till you cry

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Re: How Many Australians Are Living In Poverty.
Reply #122 - Jan 7^th, 2014 at 3:35pm

Australian society is devolving as caves are starting to become scarce and unaffordable.

Stake out your tree for the next stage of devolution before another family does.

Aspirations are under threat from the loss of iconic holden cars. Next to go will be football as Australians won't be able to afford large screen TV in their trees. The final fall will be signalled by the absence of meat pies from the menu.

The kangaroos will inherit the earth and will evolve to play a facsimile of cricket and football using the bones and skulls of the predecessor humans.

Cry

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Please don't thank me. Effusive fawning and obeisance of disciples, mendicants, and foot-kissers embarrass me.

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Lord Herbert

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Re: How Many Australians Are Living In Poverty.
Reply #123 - Jan 7^th, 2014 at 4:38pm

Grappler Racist Filth wrote on Jan 7^th, 2014 at 8:58am:

Bam - good thought about the cat. Hmmm.... I suppose in the wild they eat what they can get...

Crows up in Queensland have learnt how to flip Cane Toads onto their back for a nice meal of intestines while avoiding the poisonous sacs in their upper skin.

Like shelling an oyster (or is that 'shucking'?)

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Frances

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Re: How Many Australians Are Living In Poverty.
Reply #124 - Jan 7^th, 2014 at 5:43pm

Laugh till you cry wrote on Jan 7^th, 2014 at 3:35pm:

Australian society is devolving as caves are starting to become scarce and unaffordable.

I don't need a cave - we have a house.

Laugh till you cry wrote on Jan 7^th, 2014 at 3:35pm:

Stake out your tree for the next stage of devolution before another family does.

Too late - we cut down the two trees in the back garden.

Laugh till you cry wrote on Jan 7^th, 2014 at 3:35pm:

Aspirations are under threat from the loss of iconic holden cars.

I don't want to knock Holden cars, but would you aspire to own one?

Laugh till you cry wrote on Jan 7^th, 2014 at 3:35pm:

Next to go will be football

Boring game - I wouldn't miss it.

Laugh till you cry wrote on Jan 7^th, 2014 at 3:35pm:

The final fall will be signalled by the absence of meat pies from the menu.

No great loss - home made meat pies are much better.

Laugh till you cry wrote on Jan 7^th, 2014 at 3:35pm:

The kangaroos will inherit the earth

I thought it was the cockroaches that were supposed to be the last living creatures on earth.........

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Sure God created man before woman. But then you always make a rough draft before the final masterpiece.

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Lord Herbert

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Re: How Many Australians Are Living In Poverty.
Reply #125 - Jan 7^th, 2014 at 6:39pm

Laugh till you cry wrote on Jan 7^th, 2014 at 3:35pm:

Australian society is devolving as caves are starting to become scarce and unaffordable.

Stake out your tree for the next stage of devolution before another family does.

Aspirations are under threat from the loss of iconic holden cars. Next to go will be football as Australians won't be able to afford large screen TV in their trees. The final fall will be signalled by the absence of meat pies from the menu.

The kangaroos will inherit the earth and will evolve to play a facsimile of cricket and football using the bones and skulls of the predecessor humans.

Cry

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Grappler Racist Filth

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Re: How Many Australians Are Living In Poverty.
Reply #126 - Jan 7^th, 2014 at 7:34pm

Sir lastnail wrote on Jan 7^th, 2014 at 3:16pm:

Why on earth is the government propping up property hoarders and speculators with yet more middle class welfare in the form of rent assistance ?

The real welfare recipients are the people who hoard and speculate in property and the people on the dole are just the conduit to deliver the welfare to them Sad

Go figure

That says it all, Bro! And it starts with negative gearing...THAT is the purest welfare, and has the side effect of actually putting more competition into the housing purchase market, thus forcing up prices to suit negative gear recipients who can afford it more than the ordinary home buyer.

Some say that chopping negative gearing would lead to higher rentals - I disagree - rentals would be forced - as would housing prices - to stabilise at market value - and the investors would just have to accept a lower return.

Better them than the millions of poor.

Ever notice how all these wonderful 'socialist' policies are forcing more and more of the cash/resources/wealth into the hands of fewer and fewer people? AND cutting out the majority or making it damned hard for them?

Can anyone seriously - at this important juncture in the history of Australia as a nation - continue to accept this sort of nonsense and handouts to those without need?

If you can afford to buy investment property, you do not need a handout to do it.

ANY business must survive on its own merits - same as everyone else. If they fail - they can always accept Newstart - same as everyone else has to.

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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John Smith

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Re: How Many Australians Are Living In Poverty.
Reply #127 - Jan 7^th, 2014 at 9:35pm

Grappler Racist Filth wrote on Jan 7^th, 2014 at 7:34pm:

Some say that chopping negative gearing would lead to higher rentals - I disagree - rentals would be forced - as would housing prices - to stabilise at market value - and the investors would just have to accept a lower return

have to accept? why, you don't think there are other alternatives?

Would you borrow $200 000+ to get a return of 3% or 4%? Neither will anyone else. No investment properties, no properties avaiable for rent, of those that there are, demand will be huge ... yes, if negative gearing were abolished you can expect rent to go up.

I rented a place today, first thing I did before placing the add was check the internet to see how many available in the immediate vicinity, there were only 3 ... I increased the rent from what I had originally planned and rented it in one day.

THIS IS WHAT HAPPENS WHEN THERE IS NO SUPPLY. CUT NEGATIVE GEARING AND YOU WILL CUT SUPPLY. CUT SUPPLY, PRICES WILL SKYROCKET.

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Our esteemed leader:
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Grappler Racist Filth

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Re: How Many Australians Are Living In Poverty.
Reply #128 - Jan 8^th, 2014 at 8:39am

John Smith wrote on Jan 7^th, 2014 at 9:35pm:

Grappler Racist Filth wrote on Jan 7^th, 2014 at 7:34pm:

Some say that chopping negative gearing would lead to higher rentals - I disagree - rentals would be forced - as would housing prices - to stabilise at market value - and the investors would just have to accept a lower return

have to accept? why, you don't think there are other alternatives?

Would you borrow $200 000+ to get a return of 3% or 4%? Neither will anyone else. No investment properties, no properties available for rent, of those that there are, demand will be huge ... yes, if negative gearing were abolished you can expect rent to go up.

I rented a place today, first thing I did before placing the add was check the internet to see how many available in the immediate vicinity, there were only 3 ... I increased the rent from what I had originally planned and rented it in one day.

THIS IS WHAT HAPPENS WHEN THERE IS NO SUPPLY. CUT NEGATIVE GEARING AND YOU WILL CUT SUPPLY. CUT SUPPLY, PRICES WILL SKYROCKET.

I've been waiting for that specious argument. Properties were available and will remain available without negative gearing.

In that case - fewer property investors grabbing the opportunity to raise $200K (very low figure BTW these days) = LOWER PRESSURE ON RISING COST OF HOUSING = lower pressure on loans demand = more people getting home loans instead of investors and buying into their own home instead of renting = SAME NUMBER OF PEOPLE IN HOMES BUT WITHOUT PAYING SOMEONE ELSE FOR THE PRIVILEGE.

If there are 2000 houses on the market for renting - what makes you imagine those will just disappear? What? the owners/purchasers are just going to lock them up and walk away because they can't make a zillion dollars?

In that case - let's hear it for the monkeys who have been doing an Alan Bond for years and raising equity against equity until it falls in a heap - when they escape with a few lazy mill. Them ALL say :- "Oh, well - if I get into trouble -I'LL SELL A HOUSE OR TWO!"

So they 'get into trouble' since their welfare is suddenly withdrawn - and they are forced to sell off a property. the market is flooded, prices go down and more people own a home and have a chance of owning a home - and the government and the people are all better off instead of that tiny minority of vultures. Removal of welfare from those who don't need it and a restoration of some sanity to the market.

THEN the market stabilises - and more people have a genuine opportunity in life. Investment cash is available to put into something that will generate work etc such as an industry and not just the occasional tradesperson called in to do repair work once, more money is available for loans where they are more productive socially and economically than in buying 'dead stock' - and everyone is better off.

Business must survive on its own or it should not be there - if you find yourself out of a job - you are stuck with it - so are those who invest in property, a business, who have received far too much for far too long and who have succeeded in destroying the market, as well as the social and economic structure of this country which once offered a real chance for most to prosper with hard work and a bit of luck - and not just the few vultures, amongst whose ranks happen to be a large number of family and friends of those who make the decisions such as 'negative gearing'.

One of the best jobs in the world has been, for years, a politician using his/her sustenance allowance per diem of more than a pensioner receives a WEEK or considerably more than an unemployed person receives for a WEEK - has been to buy an investment property in Canberra or wherever... write off the costs against the rules THEY make.. and prosper greatly on the public purse (again).

A classic case was a NSW member who lives five miles out of the Sydney CBD buying a unit in the CBD on his sustenance money, and writing off heaps on negative gearing on this 'investment property' while living in it to satisfy residency requirements to offset capital gains.

Good work if you can get it..... hardly legal or anything else though.

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John Smith

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Re: How Many Australians Are Living In Poverty.
Reply #129 - Jan 8^th, 2014 at 11:28am

Grappler Racist Filth wrote on Jan 8^th, 2014 at 8:39am:

John Smith wrote on Jan 7^th, 2014 at 9:35pm:

Grappler Racist Filth wrote on Jan 7^th, 2014 at 7:34pm:

Some say that chopping negative gearing would lead to higher rentals - I disagree - rentals would be forced - as would housing prices - to stabilise at market value - and the investors would just have to accept a lower return

have to accept? why, you don't think there are other alternatives?

Would you borrow $200 000+ to get a return of 3% or 4%? Neither will anyone else. No investment properties, no properties available for rent, of those that there are, demand will be huge ... yes, if negative gearing were abolished you can expect rent to go up.

I rented a place today, first thing I did before placing the add was check the internet to see how many available in the immediate vicinity, there were only 3 ... I increased the rent from what I had originally planned and rented it in one day.

THIS IS WHAT HAPPENS WHEN THERE IS NO SUPPLY. CUT NEGATIVE GEARING AND YOU WILL CUT SUPPLY. CUT SUPPLY, PRICES WILL SKYROCKET.

I've been waiting for that specious argument. Properties were available and will remain available without negative gearing.

its the number of properties available that I'm referring too

In that case - fewer property investors grabbing the opportunity to raise $200K (very low figure BTW these days) = LOWER PRESSURE ON RISING COST OF HOUSING = lower pressure on loans demand = more people getting home loans instead of investors and buying into their own home instead of renting = SAME NUMBER OF PEOPLE IN HOMES BUT WITHOUT PAYING SOMEONE ELSE FOR THE PRIVILEGE.

no matter how low the prices are, there will always be a percentage of the population that prefers to rent ... if things happened as you say, that may help those buying (I doubt it) but what happens to those left who cannot buy?

If there are 2000 houses on the market for renting - what makes you imagine those will just disappear? What? the owners/purchasers are just going to lock them up and walk away because they can't make a zillion dollars?

1500 of them may sell to owner occupiers, the balance will triple their rent

In that case - let's hear it for the monkeys who have been doing an Alan Bond for years and raising equity against equity until it falls in a heap - when they escape with a few lazy mill. Them ALL say :- "Oh, well - if I get into trouble -I'LL SELL A HOUSE OR TWO!"

you really think someone who bought a house for eg $300 000 will suddenly sell it for $150 000 ... , most owners I know would prefer to lock it up.

So they 'get into trouble' since their welfare is suddenly withdrawn

welfare withdrawn? but according to you rent has decresed, their income is lower ... welfare is increased

- and they are forced to sell off a property. the market is flooded, prices go down and more people own a home and have a chance of owning a home - and the government and the people are all better off

what people?

instead of that tiny minority of vultures. Removal of welfare from those who don't need it and a restoration of some sanity to the market.

THEN the market stabilises - and more people have a genuine opportunity in life. Investment cash is available to put into something that will generate work etc such as an industry

sounds great for China

and not just the occasional tradesperson called in to do repair work once, more money is available for loans where they are more productive socially and economically than in buying 'dead stock' - and everyone is better off.

Business must survive on its own or it should not be there

true, and businesses are allowed to claim ALL their expenses against their income ... negative gearing is no different.

- if you find yourself out of a job - you are stuck with it - so are those who invest in property, a business, who have received far too much for far too long and who have succeeded in destroying the market, as well as the social and economic structure of this country which once offered a real chance for most to prosper with hard work and a bit of luck - and not just the few vultures, amongst whose ranks happen to be a large number of family and friends of those who make the decisions such as 'negative gearing'.

One of the best jobs in the world has been, for years, a politician using his/her sustenance allowance per diem of more than a pensioner receives a WEEK or considerably more than an unemployed person receives for a WEEK - has been to buy an investment property in Canberra or wherever... write off the costs against the rules THEY make.. and prosper greatly on the public purse (again).

A classic case was a NSW member who lives five miles out of the Sydney CBD buying a unit in the CBD on his sustenance money, and writing off heaps on negative gearing on this 'investment property' while living in it to satisfy residency requirements to offset capital gains.

Good work if you can get it..... hardly legal or anything else though.

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Grappler Racist Filth

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Re: How Many Australians Are Living In Poverty.
Reply #130 - Jan 8^th, 2014 at 12:11pm

"its the number of properties available that I'm referring too "

And these will magically disappear without negative gearing? No - the market will re-stabilise without negative gearing and will then move one.

" no matter how low the prices are, there will always be a percentage of the population that prefers to rent ... if things happened as you say, that may help those buying (I doubt it) but what happens to those left who cannot buy? "

That number will remain static within normal expanding market numbers due to growing up, imported Australians and so forth.. he only difference will be that some who are now renting will be owning.

"1500 of them may sell to owner occupiers, the balance will triple their rent"..

And have nobody living there and a call for government intervention. You seriously think that banishing negative gearing will lead to a rise of 300%? If that is the case, negative gearing is way too much of a bonus for doing nothing.

"you really think someone who bought a house for eg $300 000 will suddenly sell it for $150 000 ... , most owners I know would prefer to lock it up. "

Squatter's Paradise Apartments and Houses Inc.. you beauty! Look at Britain and many European countries right now...

Their choice in a market that must collapse sometime. who said they wouldn't receive the same rent? Just how much do they gain from negative gearing - and if it the 30 year mortgage equivalent of $150000 in equity (nonsense - that will rise) - that's $5000 a year.

Now if they need to raise their rents 300% to cover $5000 - well - that's a pretty steep rise and totally out of synch with the real cost - so it is nothing but more gouging and one day a 'strong' government will step in and fix rents.

Again - that means negative gearing is far too much of a windfall and thus is negative in the market, which will stabilise without it.

"welfare withdrawn? but according to you rent has decresed, their income is lower ... welfare is increased"

Nope - the welfare I refer to is negative gearing - a handout to those who don't need it by government and thus unwarranted welfare - and welfare that could be better spent keeping the community viable instead of lining the pockets of few. If they are reduced to being on welfare because their perks are withdrawn - they are in the wrong business. It is not the business of government to rob the poor to subsidise wealth for some.

"what people?"

Those in the general community who will benefit from all that investment money going into something that creates more than wealth and perks for a few with 'dead stock' such as properties. As for China - have you missed the entire discussion so far? The world economy is failing because of the impoverishment of the West and the consequent failure to sustain any viable ongoing market base for Chinese etc production - at a time when the cost of living, wage rises, social divides and so forth are beginning to steer straight towards the same level as the West.

When that becomes a reality - there is nothing left for anyone - markets dry up, production stops, goods stockpile on the wharves, nobody has any money except the few, and we will be in The Greatest Depression'.

Then will follow the Four Horsemen.... trust me...

"true, and businesses are allowed to claim ALL their expenses against their income ... negative gearing is no different. "

Claiming an expense is just that - it does not receive a bonus deduction as does negative gearing. Negative gearing is a bonus deduction on the false premise that without it housing would dry up, and is miraculously convenient for the already well-off few, thus exacerbating the already criminal social and economic divides destroying this country and which will lead us to revolution of one sort or another.

You are mistaking the current situation of negative gearing for the way it should always be - in the same way as the recipients of affirmative action assume it should always be that way as long as it suits them only, or those on nice incomes assume they should cop six months full pay to have their own kids that they should have been budgeting for in advance.

We are in a time when desperate measures are needed - and that includes no more free rides for the few, including early retirement schemes for politicians - no more until they reach retirement age. Now watch the retirement age come down to fifty or so (but of course, mandatory retirement ages are only for the peasants, aren't they? Not their 'betters'?)

Now - would you prefer to see the property magnate suffer a little until the market stabilises and he/she can work out how to run a business for a change - or a multitude suffer much more in proportion through handouts to those few for nothing, thus enabling them to corner the market and CREATE housing and rent crises to suit themselves - especially since the property magnate has already had his/her cut of the pie - in several ways.

Fool's Paradise.......

I thank you, suh, for your kind words.

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« Last Edit: Jan 8^th, 2014 at 12:30pm by Grappler Racist Filth »

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Lord Herbert

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Re: How Many Australians Are Living In Poverty.
Reply #131 - Jan 8^th, 2014 at 3:27pm

Where there's a rort waiting to be exploited ~ it will be exploited by a sizable minority.

Quote:

Former New York police officers and firefighters are among 106 people accused of being involved in a huge fraud linked to the September 11 attacks in the city.

The accused allegedly collected tens of thousands of dollars a year in social security benefits by claiming they were incapacitated by serious psychiatric disorders and other ailments.

But, according to court documents, they were continuing to live their normal lives.

link

Of the 9 names published in the article, here are 6 of them ...

Mike Scialabba
Joseph Esposito
Shannon Tumminello
Jospeh Morrone
Rich Cosentino
John Famularo

There's something about these names that's playing on my mind, but I can't quite put my finger on it.

Any help, any one ... ? Roll Eyes

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« Last Edit: Jan 8^th, 2014 at 3:39pm by Lord Herbert »

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Grappler Racist Filth

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Re: How Many Australians Are Living In Poverty.
Reply #132 - Jan 8^th, 2014 at 3:42pm

Yeah but - you can't just walk in and claim that stuff - you need medical backup.. a 'roof'... otherwise you get rained on..

Besides - how many of these guys/gals are now being slated as con merchants for claiming PTSD and stuff?

I've cited many times that the tail to teeth ratio of a modern army is around 10-12:1 - yet PTSD amongst Serving troops in combat zones is 32%. Most of those are not combat troops, by simple mathematical resolution - yet - the incidence is not just those in direct combat for the simple reason that the effects cross over into many areas.

I knew a grunt who was a RAEME guy - he washed out APCs after they'd brought in wounded... he was a mess. Medical personnel (takes a bow) in Medical Corps or similar also have a high incidence of PTSD - no problem seeing why.

It may well be that these guys/gals are merely feeling the lash of cost cuts...... we all know by now that any time an 'issue' has a political or economic 'roof' - it will be pumped vigorously.. as vigorously as those in the barrel on that day..

I have... doubts about this tale of rorting.....

I KNOW.. I KNOW.. these guys all have Mafia 'roof' connections... just a little Cosy Nostra, you know... or maybe a little Latin American connection..

Si - the beelding she is fall and Jose`- madre de dios.. he ees trap inside. I go to help, but no bueno, you know.. ees too much and the sangre is ev'rywhere, comprende`? I cannot sleep at night, always shaking.... my doctor he say :-

"Emiliano - you must not work in this condeetion.. you will have accident or make mistake, Madre`de Dios!"

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« Last Edit: Jan 8^th, 2014 at 3:48pm by Grappler Racist Filth »

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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John Smith

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Re: How Many Australians Are Living In Poverty.
Reply #133 - Jan 8^th, 2014 at 6:09pm

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

And these will magically disappear without negative gearing? No - the market will re-stabilise without negative gearing and will then move one

demand is outstripping supply now, what will happen when you cut supply?

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

That number will remain static within normal expanding market numbers due to growing up, imported Australians and so forth.. he only difference will be that some who are now renting will be owning.

and those that remain renting will pay for it through their teeth

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

You seriously think that banishing negative gearing will lead to a rise of 300%?

it was an example to make a point more than what I think

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

Squatter's Paradise Apartments and Houses Inc.. you beauty! Look at Britain and many European countries right now

except that we have different laws

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

It is not the business of government to rob the poor to subsidise wealth for some.

govt. isn't subsidising anything ... did you not claim your expenses when you did your tax returns? Should the govt. rob the poor just to subsidise you?

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

Fool's Paradise.......

sounds nice, maybe I'll come visit you there some day ..

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Grappler Racist Filth

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Re: How Many Australians Are Living In Poverty.
Reply #134 - Jan 8^th, 2014 at 8:18pm

John Smith wrote on Jan 8^th, 2014 at 6:09pm:

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

And these will magically disappear without negative gearing? No - the market will re-stabilise without negative gearing and will then move one

demand is outstripping supply now, what will happen when you cut supply?

Supply will rise with lower unit cost when the bonus deduction of negative gearing is done away with. IF negative gearing is so effective - why then is it creating this problem? All these sub-prime investors buying properties at inflated prices is destroying the market for others and for new construction.

"Negative gearing is a form of financial leverage where an investor borrows money to invest but the gross income generated by the investment is less than the cost of owning and managing the investment"

Bad business sense and the result of an inflated market that will reduce with less availability of finance to fund such ventures - meaning that only those who can make it viable will invest in a HOME, thus reducing the competition in the market and prices.

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

That number will remain static within normal expanding market numbers due to growing up, imported Australians and so forth.. the only difference will be that some who are now renting will be owning.

and those that remain renting will pay for it through their teeth

No - the fall in competition from non-viable negative gearers and their replacement by economically viable buyers in a less competitive market will reduce prices overall and thus rentals will not need to be as high

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

Squatter's Paradise Apartments and Houses Inc.. you beauty! Look at Britain and many European countries right now

except that we have different laws

Laws or not - squatters will still take over empty homes when they have nothing else.

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

It is not the business of government to rob the poor to subsidise wealth for some.

govt. isn't subsidising anything ... did you not claim your expenses when you did your tax returns? Should the govt. rob the poor just to subsidise you?

Grappler Racist Filth wrote on Jan 8^th, 2014 at 12:11pm:

Fool's Paradise.......

The point is that negative gearing is a self-inflicted loss, which by being permitted at all, artificially boosts the pressure on the market and thus prices. It is therefore not a genuine cost of running a business properly - but one that has developed over time to enable those who are not properly running that business to profit while causing a market boom and price hikes through competing for properties they cannot legitimately afford.

Do YOU see anyone buying a business they KNOW they will lose money on?

Why is this different? It is still a business, and should be run and governed in the same way.

In any case, my argument is that by even being in the market in this non-commercially viable way - these investors are artificially inflating that market so as to actually create the problems within it of high prices and low availability.

Something's gotta give - and this is a clear case of lenders providing sub-standard mortgages - sub-prime is the word from memory. WHEN this house of cards - so startlingly reminiscent of the Stock Market Crash in 1929 - falls - what then? Lots of very broke investors who should have been more sensible. SSDD.

sounds nice, maybe I'll come visit you there some day ..

Too Late - Welcome To the Merry Old Land of Oz! Not coming home on a wing or a prayer in any real sense.

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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