I was surprised to see Molyneux making predictions about the Australian economy, what are your thoughts? [youtube]http://www.youtube.com/watch?v=cB5ihHGsm2o[/youtube]
The video is full of interesting statistics from the RBA and ABS etc and it's amazing to see how much the public sector has grown in the last decade. Also the fact that 29% of all permanent public service workers are classed as executive is crazy :/ http://www.canberratimes.com.au/fed...vice-job-cuts-in-canberra-20130716-2q0vy.html in this article talking about 800 executive job cuts Rudd is introducing to pay for scrapping the ETS. It says that this 800 is out of a total of about 45000 executives :/ Who would have thought the public sector is top heavy lol.
No surprise better than I thought. It amazing how the country has withstood a barrage of communist ideology and destruction of free markets. I am hoping it will retain some semblance of freedom for another 3 years (Labor or Liberal) but I doubt it...Time to retire and join the masses in the wagon. I am tired of pushing.
Ye I really like Kevin Rudd but this review totally changed my thoughts about Labor.....I think i'll vote Libs this time!
Serious. He comes across on the tele as a compassionate, caring, and thoughtful man with great ideas for the future...... He's a working mans prime minister? But then your video clip shows that's not all necessarily true?
I don't know how anybody can take him seriously... he's like the Kim Kardashian of politicians... everything he does is about self-promotion. Even more so than the rest of the bunch.
I found this very informative. Again nothing surprising but a good wrap-up of where we are and came from which indicates where we are going.
I'm noticing more and more 'For Lease' signs going up out front of big business buildings all over Melbourne all the time....Its getting really scary...... And exactly like he said they're crushing the interest rates to lower their debt levels and causing a house price bubble as well.I just watched this for the second time and this guy is SPOT ON.....I WILL NOT be voting for Labor at election time!
All I know is I will be sitting and waiting for however long it takes for the housing bubble to burst and when the time is right I will walk in and buy up big with either cash or pms....Either way I WILL NOT get sucked into this massive scam that is happening right before our very own eyes!
in richmond (melbourne), bridge road.. you can see a lot of fashion retailer put up for lease sign.. and building for sale still asking for million dollar mark.. anyway.. only time will tell which directions will this will be headed.
Do you mean trying to pay with physical cash & precious metals, or funding the entire purchase using cash in the bank / sales from precious metals?
AFAIK, the payment of a amount of cash or PMs over $10,000 brings you to the attention of AUSTRAK. Fronting up with $400,000 on settlement day will get you a knock-back. Selling $400,000 in PMs, then depositing it in the bank will have the same result. This is all well past my personal experience, so someone may correct me. OC
You won't get knocked back, but you will have to complete a very invasive reporting form (I think it's about 10 pages) according to the Financial Transaction Reports Act 1988 (http://www.austrac.gov.au/report_policy.html). If you are regularly deposing cash amounts under the 10K limit so as to avoid reporting, the bank(s) will probably report them as suspicious transactions. IMO if you have a large amount of PMs and you want to buy a house, or cash-out a significant amount. You'd be better of reporting it. Welcome to the cashless society.
Thanks, A good mate of mine restricts his PM purchases to less than $5000, and usually does so via multiple sources. He gets cash out at Coles and Shell every time he goes in there, and they soon add up. NEVER trust the government! They are lying, scheming, CROOKS! OC
W.r.t. the Australian Government's unfunded liabilities that he mentioned at approx 17mins, according to the budget: BUT the accounting does not include the Future Fund assets which was created specifically for this issue. As at 31 March 2013 the value of the Fund's assets was $85.17 billion. Consequently, contrary to Molyneux's comment, the "actual" funding gap (in NPV terms) is currently closer to $60 billion. Complicating matters, based on future returns/growth etc in the Future Fund the actuary reckons the asset level needed to satisfy all of the future unfunded liabilities (called the Target Asset Level) is actually only $115.2 - hence the liabilities could (hopefully) be met if the Future Fund received an asset boost of approximately $30 billion.
Don't worry about attracting the suspicions of AUSTRAC in selling your PM's in a large tranch. If you were to sell a car,bike, boat etc to another individual, you're hardly going to get a receipt off them. AUSTRAC are after drug dealers, organised crime racketts, grande larceny, theft and such. If you have an excuse or proof of your asset liquidation then that's fine. Don't be afraid to keep as much cash as you like either..IT'S NOT A CRIME.... YET. The onus of proof is on AUSTRAC to prove you're a crook. If you're a square citizen, you've got nothing to worry about.
