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The state of the economy at the street level

Discussion in 'Business, Investment and Economics' started by Tyler Durden, May 20, 2014.

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  1. satanoperca

    satanoperca

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    Which post, where?
     
  2. Toyota Lexcen

    Toyota Lexcen

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    The one your interested in
     
  3. wayneL

    wayneL Rotaredom

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    Speaking with a client in the building game yesterday, reckons there are a number of plumbers out of work for the first time in ages. FWIW

    On the other hand my trade is whacking up prices and people aren't even blinking.
     
  4. SirRumpole

    SirRumpole

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    The rich are getting richer and the poor are getting poorer.

    Your example would be repeated a lot in the real economy I'd say.
     
  5. Toyota Lexcen

    Toyota Lexcen

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    I finding it very easy to get trades and they are very amicable to deal with.

    Similar to the mining shakeup a few years ago all the average workers are sitting on the sidelines.

    They came out of the mines to the Eastern states, filled the numbers on towers etc and now unemployed.
     
  6. satanoperca

    satanoperca

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    Maybe the wrong thread, but well worth the watch.
     
    ducati916 and Humid like this.
  7. SirRumpole

    SirRumpole

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    Fascinating.

    I can't recall the ARB printing money but everything else he says seems to be spot on.
     
    qldfrog likes this.
  8. wayneL

    wayneL Rotaredom

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    News.com is reporting a collapse in the Ute index. Ie Ute sales are down
     
  9. Toyota Lexcen

    Toyota Lexcen

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    They didn’t print, but surely the manufacturing boom in Asia has to account for a lot of the advancement

    Not that simple
     
  10. qldfrog

    qldfrog

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    So what is the option for our savings? Gold?
     
  11. basilio

    basilio

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    Smurf1976 likes this.
  12. basilio

    basilio

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    The Live Wire interview is sobering and disturbing. Quite scary...
     
  13. Humid

    Humid

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    One big difference in WA now is the amount of different mines in operation compared to then.
    The maintenance never stops and everything is exported so the local market is irrelevant.

    I’m in iron ore automation so the emerging economies hopefully will keep me employed long enough to buy a v8 Ute and new jet ski
     
  14. Value Collector

    Value Collector Have courage, and be kind.

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    For every $1 debt on some ones balance sheet, there is a $1 on some ones else's, so the net debt is $0
     
  15. SirRumpole

    SirRumpole

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    That assumes that debt will actually be paid off and not forgiven or defaulted on, so there is also a "provision for doubtful debts" which means it's not a binary equation.
     
  16. Value Collector

    Value Collector Have courage, and be kind.

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    I know both centres well, I actually went to high school just down the road from Strathpine shopping centre (when it was still Westfields Strathpine) I was a Pine Rivers kid.

    The difference between the two is mostly geography, Westfields sold Strathpine and toombul shopping centre and invested heavily in North Lakes and Chermside because they knew Strathpine and toombul were weaker locations vs North lakes and Chermside which sit right on the freeway/main drag out of Brisbane pulling in large amounts regional traffic while also pulling the higher spenders from Strathpine and Toombul areas due to better retail offerings.
     
  17. Value Collector

    Value Collector Have courage, and be kind.

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    its still the same, a default causes an asset to disappear of one balance sheet and a debt to disappear of another, still net $0, a default causes the defaulter to become richer and the creditor to become poorer.

    Hence the reason the Tax Office treats debt forgiveness and income.
     
    Klogg likes this.
  18. Value Collector

    Value Collector Have courage, and be kind.

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    Income producing assets.

    definitely not gold, unless you are 75 years old, and don't want to leave anything for your family or charity.
     
  19. PZ99

    PZ99 ( ͡° ͜ʖ ͡°)

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    For as long as money is a token of exchange for labour there is no equilibrium of debt to assets.
     
  20. Value Collector

    Value Collector Have courage, and be kind.

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    I am not sure what you mean.

    a $1 debt is a liability to one person (claim on that persons future Labour) and an asset to another (promise of future labour) for every $1 liability that exists another entity has a $1 asset.

    It’s just the way it is, like the laws of physics.
     
    Klogg likes this.
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