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Gordon Gold Member Offline Australian Politics Posts: 20231 Gordon Gender:	GFC + 10 Sep 13^th, 2018 at 9:48pm Heard some interesting commentary on what helped australia thru the GFC. Of the things that saved us,all the local stimulus and interest rate cuts were responsible for about 10% while China's massive domestic infrastructure projects fueled our mining boom which saves our arses. Swan's cheques did bugger all.
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juliar

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Re: GFC + 10
Reply #1 - Sep 13^th, 2018 at 9:57pm

Gordy,

you will cause the not quite the full quid Polly Waffle VIRUS to have a neurotic attack and flood the joint with Polly Waffle FAKE NEWS VIRUS SPAM.

You are quite correct as the Future Fund plus the huge increase in iron ore and coal exports brought in so much money that the Labor Party was flat out wasting it all on Socialist Stupidity.

Plus our banks were quite stable due to the John Howard years.

The banks went off the rails during the chaotic brothel that was the six sick years of Labor's socialist stupidity.

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Its time Gold Member Offline Boot libs out Posts: 25639 Gender:	Re: GFC + 10 Reply #2 - Sep 13^th, 2018 at 10:04pm Meanwhile back on planet reality everybody in the know realised stimulis when GDP dropped by 6% was a good thing , and every country on the 26oecd nation's that implemented austerity measures went in to recession Oh baby, slam dunk, lefty
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Gordon Gold Member Offline Australian Politics Posts: 20231 Gordon Gender:	Re: GFC + 10 Reply #3 - Sep 13^th, 2018 at 10:18pm http://www.abc.net.au/radio/sydney/programs/focus/focus/10212006
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Gordon

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Re: GFC + 10
Reply #4 - Sep 13^th, 2018 at 10:25pm

Yeah this had no effect on our economy. It was all from Swannies cheques.

The 2008–09 Chinese economic stimulus plan (simplified Chinese: 扩大内需十项措施; traditional Chinese: 擴大內需十項措施; pinyin: Kuòdà Nèixū Shíxiàng Cuòshī) is a RMB¥ 4 trillion (US$586 billion)

https://en.m.wikipedia.org/wiki/Chinese_economic_stimulus_program

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juliar Gold Member Offline Australian Politics Posts: 22966	Re: GFC + 10 Reply #5 - Sep 13^th, 2018 at 10:46pm The silly old neurotic Polly Waffle VIRUS is slam dunked in his own IGNORANCE again.
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Yadda Gold Member Offline Posts: 20977 A cat with a view	Re: GFC + 10 Reply #6 - Sep 13^th, 2018 at 10:54pm Interesting item on The 7.30 Report tonight, on prospects for GFC v2.0 It was a little scary. http://www.abc.net.au/7.30/ten-years-on-from-the-gfc-are-heading-for-another/10244740
Back to top	"....And he said unto him, If they hear not Moses and the prophets, neither will they be persuaded, though one rose from the dead." Luke 16:31 IP Logged

minarchist

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Re: GFC + 10
Reply #7 - Sep 14^th, 2018 at 1:45pm

Yadda wrote on Sep 13^th, 2018 at 10:54pm:

Interesting item on The 7.30 Report tonight, on prospects for GFC v2.0

It was a little scary.

http://www.abc.net.au/7.30/ten-years-on-from-the-gfc-are-heading-for-another/10244740

I was once on the bandwagon where the Peter Schiffs and Marc Fabers of the world predicted an economic crisis worse than the Great Depression. It never happened.

That's not to say it won't happened. I just can't see any financially unstable situation that I can say with any degree of certainty will trigger the next crisis, whether its the Chinese Banking Sector, Italian Banking Sector or even the Australian Banking Sector. Currently, I'm thinking that it will be an American Stock bubble, given how far the various indices have risen over the last 10 years and the fact that it has been a while since we've had a downturn in the stock market.

Another indicator would be to follow where American Banks invest their money:

Mexican Peso Crisis, 1994
American Banks: Ummm, we screwed up, we're too big to fail, can you bail us out?
Government: Sure, but don't let it happen again
American Banks: Oh, we won't!

(No one of any significance was convicted.)

Asian Financial Crisis, 1997
American Banks: Ummm, we screwed up, we're too big to fail, can you bail us out?
Government: Sure, but don't let it happen again
American Banks: Oh, we won't!

(No one of any significance was convicted.)

American Subprime Mortgage Crisis, 2007
American Banks: Ummm, we really screwed up and we're waaay too big to fail. If you don't bail us out it will be a giant clusterf!@k!
Government: FFS, here, have $700 billion. And don't do it again!
American Banks: Ummm, yeaaah.....

(No one of any significance was convicted.)

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People accuse Capitalism of being a "dog eat dog" system, yet it was the Communists who ate each other when they were starving!

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Yadda

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Re: GFC + 10
Reply #8 - Sep 14^th, 2018 at 3:03pm

minarchist wrote on Sep 14^th, 2018 at 1:45pm:

Yadda wrote on Sep 13^th, 2018 at 10:54pm:

Interesting item on The 7.30 Report tonight, on prospects for GFC v2.0

It was a little scary.

http://www.abc.net.au/7.30/ten-years-on-from-the-gfc-are-heading-for-another/10244740

I was once on the bandwagon where the Peter Schiffs and Marc Fabers of the world predicted an economic crisis worse than the Great Depression. It never happened.

That's not to say it won't happened.

I just can't see any financially unstable situation that I can say with any degree of certainty will trigger the next crisis, whether its the Chinese Banking Sector, Italian Banking Sector or even the Australian Banking Sector....

Really ?

There is a colloquialism that goes something like this....

"If you owe your lender $10,000 and you can't repay it, YOU'VE GOT A PROBLEM !

But if you owe your lender $100,000,000 and you can't repay it, YOUR LENDER HAS GOT THE PROBLEM !"

And that 'power imbalance' becomes much worse, with substantially, much larger amounts of debt!

The economies of the world today, are awash with debt.

Sure its not a problem, central banks can just print more money.

That will alleviate any short term crisis, right !?

If you believe that, you've got rocks in your head!

.

Q.
In any serious [i.e. worldwide] monetary crisis, who is going to be better placed ?

Those who hold mostly, various physical assets ?

Or those who 'own' huge blocks of paper currency, or, a have a legal claim on a series of 'zeros and ones', on some banks hard drive, that are 'worth' $$$ billions ?

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"....And he said unto him, If they hear not Moses and the prophets, neither will they be persuaded, though one rose from the dead."
Luke 16:31

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Grappler Truth Teller Feller Gold Member Online Australian Politics Posts: 80327 Proud pre-1850's NO Voter Gender:	Re: GFC + 10 Reply #9 - Sep 14^th, 2018 at 10:55pm Yadda wrote on Sep 13^th, 2018 at 10:54pm: Interesting item on The 7.30 Report tonight, on prospects for GFC v2.0 It was a little scary. http://www.abc.net.au/7.30/ten-years-on-from-the-gfc-are-heading-for-another/10244740 http://www.abc.net.au/7.30/ten-years-on-from-the-gfc-are-heading-for-another/102... Now I'll look at it...
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Yadda

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Re: GFC + 10
Reply #10 - Sep 15^th, 2018 at 10:00am

Grappler Truth Teller Feller wrote on Sep 14^th, 2018 at 10:55pm:

Yadda wrote on Sep 13^th, 2018 at 10:54pm:

Interesting item on The 7.30 Report tonight, on prospects for GFC v2.0

It was a little scary.

http://www.abc.net.au/7.30/ten-years-on-from-the-gfc-are-heading-for-another/10244740

http://www.abc.net.au/7.30/ten-years-on-from-the-gfc-are-heading-for-another/102...

Now I'll look at it...

The ABC have now added a Transcript on that page.

You don't even have to d/l the video now.

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"....And he said unto him, If they hear not Moses and the prophets, neither will they be persuaded, though one rose from the dead."
Luke 16:31

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Yadda

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Re: GFC + 10
Reply #11 - Sep 18^th, 2018 at 10:11am

Quote:

The next downturn could rival the Great Depression and wipe $10 trillion off US household assets

The Daily Telegraph • September 17

The banks may be safer today but the debt-drenched world economy is even more fragile than it was in 2008, and political solidarity has collapsed

The world’s major economies are skating on dangerously thin ice and lack the fiscal, monetary, and emergency tools to fight the next downturn.

A roster of top crisis veterans fear an even more intractable slump than the Lehman recession when the current ageing expansion rolls over.

The implications for liberal democracy are sobering.

“We have no ability to turn the economy around,” said Martin Feldstein, President of the US National Bureau of Economic Research.

“When the next recession comes, it is going to be deeper and last longer than in the past.

We don’t have any strategy to deal with it,” he told The Daily Telegraph.

Professor Feldstein, a former chairman of the White House Council of Economic Advisors, described a bleak scenario more akin to the depressions of the 1870s or the 1930s than anything experienced in the post-War era.

https://www.telegraph.co.uk/business/2018/09/16/next-downturn-could-rival-great-...

Posted by Jeremiah [aka Yadda] Wink

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"....And he said unto him, If they hear not Moses and the prophets, neither will they be persuaded, though one rose from the dead."
Luke 16:31

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aquascoot

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Re: GFC + 10
Reply #12 - Sep 18^th, 2018 at 10:27am

minarchist wrote on Sep 14^th, 2018 at 1:45pm:

Yadda wrote on Sep 13^th, 2018 at 10:54pm:

Interesting item on The 7.30 Report tonight, on prospects for GFC v2.0

It was a little scary.

http://www.abc.net.au/7.30/ten-years-on-from-the-gfc-are-heading-for-another/10244740

I was once on the bandwagon where the Peter Schiffs and Marc Fabers of the world predicted an economic crisis worse than the Great Depression. It never happened.

That's not to say it won't happened. I just can't see any financially unstable situation that I can say with any degree of certainty will trigger the next crisis, whether its the Chinese Banking Sector, Italian Banking Sector or even the Australian Banking Sector. Currently, I'm thinking that it will be an American Stock bubble, given how far the various indices have risen over the last 10 years and the fact that it has been a while since we've had a downturn in the stock market.

Another indicator would be to follow where American Banks invest their money:

Mexican Peso Crisis, 1994
American Banks: Ummm, we screwed up, we're too big to fail, can you bail us out?
Government: Sure, but don't let it happen again
American Banks: Oh, we won't!

(No one of any significance was convicted.)

Asian Financial Crisis, 1997
American Banks: Ummm, we screwed up, we're too big to fail, can you bail us out?
Government: Sure, but don't let it happen again
American Banks: Oh, we won't!

(No one of any significance was convicted.)

American Subprime Mortgage Crisis, 2007
American Banks: Ummm, we really screwed up and we're waaay too big to fail. If you don't bail us out it will be a giant clusterf!@k!
Government: FFS, here, have $700 billion. And don't do it again!
American Banks: Ummm, yeaaah.....

(No one of any significance was convicted.)

good post minarchist

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The_Barnacle

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Re: GFC + 10
Reply #13 - Sep 18^th, 2018 at 10:03pm

minarchist wrote on Sep 14^th, 2018 at 1:45pm:

I was once on the bandwagon where the Peter Schiffs and Marc Fabers of the world predicted an economic crisis worse than the Great Depression. It never happened.

Ever since I have been on online forums (nearly 20 years now) there have always been people who are predicting an imminent global depression. Have a look at Perceptions Now's thread in the Finance sub-forum. He's been predicting it since at least 2010.

It is just another form of the "end of times" syndrome which people have been predicting for centuries.

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The Right Wing only believe in free speech when they agree with what is being said.

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Valkie

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Re: GFC + 10
Reply #14 - Sep 19^th, 2018 at 4:59pm

One of the senators in question time spelt out the problems.

Some Businesses can bring outside labour without having to see if any Australians can do the job.
This means slave labour and more driving down wages.

And apparently, some businesses can sue the Australian grubberment if it changes any of the conditions to protect Australian people and said businesses consider it against their profits.

Our grubberment is seriously flawed.
Dum as dogshite
Corrupt as a kings cross cop
Crooked as a blind man's drawing

We need a REVOLUTION

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I HAVE A DREAM
A WONDERFUL, PEACEFUL, BEAUTIFUL DREAM.
A DREAM OF A WORLD THAT HAS NEVER KNOWN ISLAM
A DREAM OF A WORLD FREE FROM THE HORRORS OF ISLAM.

SUCH A WONDERFUL DREAM
O HOW I WISH IT WERE TRU

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