2020 Collapse

Discussion in 'Markets & Economies' started by TreasureHunter, Dec 8, 2019.

  1. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Self-made wealthy like Gina Reinhardt, James Packer and Lachlan Murdoch
     
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  2. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Definitely Gina. She took what her father gave her and multiplied it enormously in orders of magnitude more than her father. A very talented individual.

    I don't know much about the other two.
     
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  3. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Helps being a self-made success if you get to inherit or are gifted stonking great business empires from your family.

    Packer's managed to screw up his family's media and gambling juggernauts but it wouldn't surprise me if he's still worth more now than what he got gratis from his old man's will.

    Also helps when you're rich enough to make Governments acceed to most of your business wishes, or in Murdoch's case running Govts via his media empire.
     
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  4. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Hancock Prospecting was anything but a great stonking business. It had the potential to be a great stonking business with huge assets available to it, but it was poorly managed. Yes it does help when anyone gets an inheritance but most people (70%) just blow it. She took her inheritance valued at $72million and through acute business acumen and dedication turned that into about $30billion. Her dad didn't do that for her, she did. That's a 41 566% ROI. Anyone around here come close to that with their investments? ;)

    In Rinehart's case that's probably just left-wing media bias.
     
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  5. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    If anyone's interested here's an old article written by Benjamin Marks - a libertarian economist on Rinehart: http://www.ginarinehart.info/gina-rinehart-is-our-rightful-democratic-leader/

    I like this quote from Marks:

    Screen Shot 2022-09-05 at 8.19.59 pm.png
     
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  6. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    How much did her father start with? I don't know their business background and history compared to the Packers and Murdochs who literally were kingmakers and breakers of our Govts.

    Did anyone watch the ex-PM with Spongepaul Squarehead on Sky News tonight? Scripted, written and authorised by you know who and with Costello running Ch Nine and The Age there's so much left wing media bias in Oz I've just had to use the rest of this years supply of sarcasm with this response to even cope.

    ABC news is being deliberately turned into an almost unwatchable nightmare by Buttrose and friends on behalf of guess who? Ex-Murdoch clowns and LNP fankids who spent an election campaign marvelling at the "consummate campaigner" and their economic brilliance compared to covering Labor's campaign as being all about "The Gaff". Independents and Greens policies virtually ignored let alone given credence or consideration.

    Greg Jennett, Coorey, Probyn, Millar, Fran Kelly are nothing but totally biased left-wing journo's who did a great job in bringing down Morrison's multiverse Govt.

    "Albo's appealing to the people who clean the street..." - Probyn
    And my fave...
    "So Tanya Plibersek, where did you go wrong?" - Sales

    RANT ENDETH!





    I don't dislike or distrust Reinhardt in anything like the way I do the other families, I plucked the names as examples of how being a "self-made" success is often achieved from a very favorable windfall via birthright and pre-existing financial and political clout. They didn't start at the bottom of life's heap, quite the opposite.
     
  7. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Lol, good rant mate, the quality of journalism leaves something to be desired. Probably explains why so many go off in search of alternative news sources or just don't bother keeping up with current events.

    Back to the idea of 'perceived privilege".

    Thousands of researchers have tried to make a living or name for themselves over the years studying whether nature or nurture is the key factor to success. If they'd asked any carefully thinking random in the street they would've gotten their answer without having to spend hours and possibly $1000's of dollars of public money, it's both. A good upbringing full of stimulation and opportunity to explore will set up the potential for positive outcomes in life. But it will amount to nothing if the individual is not driven to make the most of those opportunities. If 70% of those who inherit wealth squander it, that means only 30% actually use it wisely, and of those 30% god knows how many actually take a small fortune and turn it into a large fortune.
     
  8. mattyman174

    mattyman174 Active Member

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    Problem is, Government isn't a Business.

    Voters aren't customers. They get to make a choice once every 4 years. Customers choose every time they want to make a purchase.

    What would a Rinehart do when their "customers" HAVE to buy what they are selling after they already have the keys to the castle...

    Likely more good than the current lot lol, but words spoken prior to public office en-statement mean very little given a politician is not bound by sufficient consequence to uphold those promises or intentions.
     
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  9. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Which is basically the point she is making, under a capitalist system private enterprise is closer to the people and meets the needs of people better than any government. Rhinehart is more effective at meeting the needs of her customers in private enterprise than she would be in government.
     
  10. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    I like Rinehart, she's got... guts. The mini TV series they made about the 'House of Hancock' (incl the missus 2.0) portrayed her as the sanest individual of the lot - and yet she made sure it's not aired again on Channel9.
    Unsurprisingly her offspring seems hellbent on squandering it all away in philanthropy for dubious causes - 'the third generation curse' in full swing?

    https://www.smh.com.au/entertainmen...logises-to-gina-rinehart-20170224-guktih.html
     
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  11. Ag bullet

    Ag bullet Well-Known Member

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    "When I started out I only had two things, a dream.......and $72million."
     
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  12. Michael Kay

    Michael Kay Active Member

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    Seriously, anyone that says Gina Reinhardt, James Packer and Lachlan Murdoch are self-made is absolutely bonkers.

    Of course, their mother was a teacher and their father was a factory labourer - what are you guys on? they are all heirs to the massive (not at all small by any means) fortunes of Rupert Murdoch, Kerry packer and Lang Hancock... y'know, the usual Aussie battler.
     
    Last edited: Sep 20, 2022
  13. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    ^ so if it wasn't Rinehart who turned her father's old company into a multi-billion dollar company who did it then?

    Old Lang leveraging the assets from the grave?
     
    Last edited: Sep 21, 2022
  14. lucky luke

    lucky luke Well-Known Member Silver Stacker

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  15. heartastack

    heartastack Well-Known Member Silver Stacker

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    So far every family business I've worked for (at least 4 now) are in the 3rd generation and the kids are woke AF and painful to be around.
    There was one co. who did it best and the motto was - if you're (one of the kids) not the smartest person in the room then STFU or GTFO.
     
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  16. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    My boss says when he doesnt know what else to do he just throws money at it. Its been a very lucrative year so far. Ill take it and more gold in the stack.
     
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  17. heartastack

    heartastack Well-Known Member Silver Stacker

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    You’re a king amongst men who aren’t lawyers
     
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  18. TreasureHunter

    TreasureHunter Well-Known Member

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    A video about how the gas crisis might impact Europe during this winter.


    It is very hard to get a clear picture about how European countries are connected to gas pipes and the liquified gas ports (LNG terminals). It looks like the dependency and the alternatives are very different from one country to the other.

    - Germany, Denmark, the Netherlands (or is that Holland?), Belgium, Poland, Sweden, Norway, UK can easily get gas from the North Sea (Norway, the Netherlands and Germany are interested in selling their expensive gas); but there is no infrastrucutre
    to bring this gas to the rest of Europe and either way its would be damn expensive
    - the former Yugo-republics (Croatia, Servia, Bosnia, Slovenia), Bulgaria, the Czech. Rep., Slovakia, Hungary, Austria and Bulgaria are strongly dependent upon "rusky gas", it seems like
    - there are plans to bring gas from the Caspian Sea (Azeri gas), but as far as I know, the infrastructure is largely incomplete
    - Spain (from what I know) is obtaining gas from North Africa

    During this madness, Germany is de-industrializing, closing down nuclear power plants, while France is re-opening some of theirs.

    I think many European countries will go bankrupt or will be severely shaken economically until 2025.
    Surviving economically and socially until summer 2023 will be dreadfully hard for Europe.

    1) the gas crisis will ignite social turmoil in many countries (I think Germany, the Czech Rep., Slovakia, Austria, Switzerland, Bulgaria will be among the most affected ones)
    2) the Euro is going down the drain and is dragging down currencies linked to it - the EU's currency will lose more ground next year in international trade
    3) powerful corporations are drooling to buy up cheap land, bankrupt industries in the countries having gone down the "Detroit route"
    4) in 2023 there will be less jobs available and many people will lose their current jobs
    5) the purchase power is lower in Europe overall, trade and consumption will dive lower
    6) massive amounts of refugees will arrive from Ukraine to the Western countries (the numbers will keep going as Russians are expected to exploit the cold winter and will most probably cut off gas towards Ukraine)
    7) Europe's trade with China will be negatively affected: weaker industry, less demand from China and weaker Euro will erode trade volumes and transaction values
    8) there will be more internal political conflicts between the centralized Soviet-style EU leadership and "rebel" member states (which follow their own interests instead of bowing to the globalists), among these are: Italy, Hungary, Poland, Greece, but the list is growing... if the centralized constraint and sanctions against member states continue, the EU will self-destruct
    9) in the EU, ideological warfare is more important than the economy: people will eventually rebel against "political correctness", "gender ideologies" if they have no heating/lose heir jobs/food prices keep rising
    10) more illegal migrants will attempt to cross borders in 2023 (the numbers are gradually rising, but an "avalanche" of migrants might take Europe by assault in 2023)


    I think the next group of countries to collapse is the EU. It remains to be seen how certain member states will survive (there will be a few success stories, but many will go down the "Detroit road").

    Europe won't be the same in the summer of 2023:
    - vacations will be more expensive, flights will be more scarce, less tourists will hit the popular travel destinations
    - more theft, burglary (statistics show the trends are up already!)
    - illegal migrants "stuck" in the West Balkans (Serbia and Bosnia) will turn violent and will attempt to move further into Western Europe
    - while the world is becoming multipolar, the EU is becoming a "tower of babel" chaos, where unity will be undermined by criss-cross hatred and attempts to escape from the stranglehold of the "EU octopus authority"
    - more blackouts, less water, less gas, scarcity of raw materials
    - food prices might double by summer 2023 as Europe drags itself through the long cold winter and also due to the drought, which occurred in summer 2022
    - the EU will have less impact in international politics, by summer 2023, it will be a "madhouse"
     
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  19. TreasureHunter

    TreasureHunter Well-Known Member

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    I think there's a chance for gold to take that looooooong dive down to 1,300 $. If it does, then that will probably be the best buying opportunity before the "tsunami" (the really big SHTF) comes.
     
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  20. heartastack

    heartastack Well-Known Member Silver Stacker

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    Can anyone with solid depth of understanding the energy crisis in Europe comment on what % of the media is hysteria and how much is real? Bit jaded after covid nothing-burgers. Family in Germany hasn't made a peep about it to us, but they aren't inner-city, and they're good Aryan stock built for harsh winters probably foraging for mushrooms and chanting Pagan scriptures in the Black Forest right now lmao. @jultorsk ?
     
    Last edited: Oct 5, 2022
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