Complete rubbish from Michael Pascoe

Discussion in 'Markets & Economies' started by Big A.D., Jun 20, 2013.

  1. renovator

    renovator Well-Known Member

    Joined:
    Jan 20, 2011
    Messages:
    6,989
    Likes Received:
    83
    Trophy Points:
    63
    Location:
    QLD
    Thanks big ad. I hope it works out for ya Your a realist. You know me well enough to know i wasnt being an ass just asking the questions that nobody else does .Being in business for decades makes me see things different then others. & when speaking to other business people these are the things we talk about .anyone in business knows the money pit they are & somtimes it makes you wonder if your doing the right thing . I applaud u for having the gonads for stumping up the cash to start with ...many wouldnt & talk about it later coulda ,shoulda ,woulda .I hope it gets to the stage where you can take some decent profits .
     
  2. hawkeye

    hawkeye New Member Silver Stacker

    Joined:
    Nov 10, 2010
    Messages:
    2,929
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Perth, Australia
    And that's a terrible situation for any country to be in. Short-term everything may look rosy, but long-term you are asking for very serious trouble. Basically high commodity prices are keeping the country afloat and not much else.
     
  3. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

    Joined:
    Feb 23, 2011
    Messages:
    5,465
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    The Land of Guilty by Default
    See!! Yet another example indicating that BigAD and I CAN agree on something.... :lol:
     
  4. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

    Joined:
    Feb 23, 2011
    Messages:
    5,465
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    The Land of Guilty by Default
    oh that's already occurred some years ago already! :lol:
     
  5. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    7,777
    Likes Received:
    7,199
    Trophy Points:
    113
    Yeah but it didn't seem to stop the credited-up numpties from buying.
     
  6. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

    Joined:
    Feb 23, 2011
    Messages:
    5,465
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    The Land of Guilty by Default
  7. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

    Joined:
    Feb 23, 2011
    Messages:
    5,465
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    The Land of Guilty by Default
    Nothing entrepreneurial about using government meddling (local councils in your case) to sell postage stamp lots to fools willing to pay top dollar for them.
     
  8. renovator

    renovator Well-Known Member

    Joined:
    Jan 20, 2011
    Messages:
    6,989
    Likes Received:
    83
    Trophy Points:
    63
    Location:
    QLD
    yippees got his machine gun back after his mum confiscated it for a month . :p: Yip i keep tellin ya you need REAL bullets those blanks are useless :lol: .Where u been yip we missed ya .Did u get locked up for social disobedience ?
     
  9. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

    Joined:
    Feb 23, 2011
    Messages:
    5,465
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    The Land of Guilty by Default
    As Kris Sayce has inferred many times - Michael Pascoe is a real tit!! :lol:
     
  10. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

    Joined:
    Feb 23, 2011
    Messages:
    5,465
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    The Land of Guilty by Default
    :lol: @ Reno
     
  11. Contrarian

    Contrarian New Member

    Joined:
    Dec 16, 2010
    Messages:
    676
    Likes Received:
    3
    Trophy Points:
    0
    Location:
    Australia
    double post
     
  12. Contrarian

    Contrarian New Member

    Joined:
    Dec 16, 2010
    Messages:
    676
    Likes Received:
    3
    Trophy Points:
    0
    Location:
    Australia

    I didn't say there was.

    I said rising property prices have given me the capital to develop property which gives me spare capital to put into business and other enterprises.

    C
     
  13. hawkeye

    hawkeye New Member Silver Stacker

    Joined:
    Nov 10, 2010
    Messages:
    2,929
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Perth, Australia
    You seem to be assuming that what you do is the common thing though. Whereas I think there is a reason you gave yourself the name that you did.
     
  14. Contrarian

    Contrarian New Member

    Joined:
    Dec 16, 2010
    Messages:
    676
    Likes Received:
    3
    Trophy Points:
    0
    Location:
    Australia
    Which brings me back to this point.

    On one hand you blokes are complaining about real estate being the main form of bank collateral needed to fund entreprenuership.

    And then arguing that a restriction of equity and therefore restriction of funding due to falling property values wont effect entrepreneurship.

    You're going to have to decide one way or the other.

    C
     
  15. Contrarian

    Contrarian New Member

    Joined:
    Dec 16, 2010
    Messages:
    676
    Likes Received:
    3
    Trophy Points:
    0
    Location:
    Australia
  16. hawkeye

    hawkeye New Member Silver Stacker

    Joined:
    Nov 10, 2010
    Messages:
    2,929
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Perth, Australia
    It will restrict it. But the real problem is that we went down that path in the first place. It's unsustainable and now we are going to have to figure out how to get out of the trap that we put ourselves in.
     
  17. Contrarian

    Contrarian New Member

    Joined:
    Dec 16, 2010
    Messages:
    676
    Likes Received:
    3
    Trophy Points:
    0
    Location:
    Australia
    Ah....so Pascoe is right.

    C
     
  18. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

    Joined:
    Oct 30, 2009
    Messages:
    6,278
    Likes Received:
    186
    Trophy Points:
    83
    Location:
    Sydney
    I'm not saying falling real estate prices won't have an effect on entrepreneurship, I'm saying it will have a positive effect.

    If prices flat-line or go backwards, mortgage growth stalls. If that happens, the banks will have to look elsewhere and not just for profit growth but to just hold their profits steady as their biggest cash cow - mortgages on residential property - starts to slip away. On top of that, if the banks' profits fall, investors are going to start to look for other places to put their money.

    Banks won't do nothing while all this happens, they'll be looking for new people they can lend money to. NAB is notably ahead on this with their Microenterprise Loans (which have been a very successful offering for them), but that lending market is only going to get bigger as people start realising they can't rely on house prices always going up in order to make money.

    Sooner or later, people are actually going to have to have to start do something productive if they want to increase their wealth.

    Or to look at it the other way: if Pascoe is correct and rising house prices are good for entrepreneurs, we should have a healthy culture of start-ups and lots of new businesses making their way through their growth phase. That isn't what's happening. Pascoe is wrong.
     
  19. hawkeye

    hawkeye New Member Silver Stacker

    Joined:
    Nov 10, 2010
    Messages:
    2,929
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Perth, Australia
    :rolleyes:

    I've had enough of these games. I'll leave it to Big AD.
     

Share This Page