nah , the biggest ponzi scheme of all time is superannuation
the housing bubble is just his sidekick
true , we have a limited manufacturing base these days but we did record a 3 billion trade surplus for either august or september
when was the last time the UK recorded a trade surplus in a month? i believe it was some time in 1997?
the best thing we have here is plenty of land , you could camp out whilst the shit hit the fan in a big way and not see another soul for months
I wonder how many Super/Pension funds are up to their necks in MacQarrie bank infrastructure funds? Seems they found the magic formula a couple of years ago, bit like private equity whereby they buy out something like for eg
Thames Water (they did) and then load it up with debt, pay them selves special dividends then securitise whats left to sell on to pension funds, mostly in Australia. They have all sorts of sh*t, like airports, toll roads etc, all of them loaded up with maximum debt, all of them pushed to the limit to make a buck. May look interesting in a couple of years.
Excellent. I'm looking at heading out to Melbourne within the next 4 years. It's going to take me at least a year to get out there and then I'll want to rent for a couple of years while I work out where the nice areas are (any suggestions welcome). So if they start to crash in a few months I'll be looking to buy somewhere around the bottom
What's the story in Melbourne at the moment? Has the market just stalled, or is it still rising?
Think it has stalled, the inner, more expensive areas of Melbourne tend to sell by Auction (which is a scamy buisness iteself) have gone a bit quiet lately but this happens from time to time. To live in these leafy suburbs, you will be paying Londonish prices around $800k for something decent of a reasonable size, you can get cheaper but can be quite small in some areas. The further out you go, the cheaper it gets, unless near the sea in some areas. Rock bottom is around $250K in a soulless outburb where cars are worshiped like the gods of necessaty they are and hill billys wouldnt go astray. We are 'waiting and seeing' at the moment and depends on work. Melbourne can be a nice city to live in but what drives everyone mad is the weather, can change by the day or even within the day and forcasts 3 days ahead are nonsense. However the winter/spring climate is better to live in than it was in the old days before the never ending drought, then it used to rain every weekend like clockwork, dont know if we will get that back or not.
Doesn't matter, as long as someone wants the resources. Which is not currently the case, but that may change.
The biggest mystery of all is why Oz isn't the world centre for development and implementation of domestic and industrial solar energy. Instead, sunless Germany has that role.
"She'll be right mate" - not always the wisest approach. However the UK is surely in a much deeper hole that Oz, though I doubt they'll be unaffected. Brits might even stop buying so much of their gloupy cheaper wines that taste like blackcurrant soup.
Australia should indeed be the world centre for solar power and innovation, however the recent politics of the Howard government tended to pander to various vested interests and suspect solar didnt fill the right pockets, in fact nuclear was frequently mooted. The old CSIRO (goverment scientific research thingy) was privatised years ago and now tends to be the paid lacky of big buisness needing a bit of science. Lots of the best scientists buggered off and pure or useful research was put on the back burner, a bit like the USA. Too early to know what the Rudd govt is going to do.