The pull-back was expected and the floor was solid at $40.00 AUD and now the price is climbing again. This is a promising sign indeed.
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- Thread starter Turk
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Are you a hyperinflation denier? How dare you!
Jk but seriously, what's an alternative?
Seems so many are at the threshold of moving back to the parents house.
It wouldn't take much more to push them over the brink at this point.
They say hyperinflation happens during the last 2% of purchasing power and that's where we are now.
Fifty years of constant slow inflation while changing the formulas every generation or so to make the numbers look better everywhere.
Now at the end we are seeing the final rug being pulled and with everything at unsustainable levels in every sector between governments and most of their citizenry combined. A disaster waiting to happen.
Hyperinflation occurs when firstly a nation's productive capacity is unable to meet demand and secondly the government enacts crap policy responses.
We haven't reached the first stage yet.
We can tick a couple of boxes to get us to the start of the end.....Housing shortage.....tick. Crap Government...TICK !
See that's where the Brics block come in.
They provide the productive capacity, we supply the demand!
It's a perfect consumer debt driven system.
They provide the productive capacity, we supply the demand!
It's a perfect consumer debt driven system.
True, though we've had crap government for most of the past 50 years.
Edit to add: though the floating of the AUD by Keating/Hawke would probably rank as the most sensible economic policy decision during that time while the introduction of a GST by Howard would probably rank as one of the dumbest.
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As much as PJK sh$ts me to tears (then and now) he was the last Aust politician who actually had the balls to tell it to the electorate as it was needed.
https://www.dailymail.co.uk/video/n...recession-late-1990-press-conference.htmlnfnd.
As for Howard being the dumbest...debatable that one. He did introduce a GST and get reelected (a first for 1st world country) but squandered the early 2000's economic windfall with tax cuts rather than sov wealth fund / infrastructure spend.
Rudd inherited the best Aust economy in living memory then screwed it up by spending like a drunken sailor in 2007/8/9 cos he didn't have the balls to allow Aust to have a recession to flush the crap out of the system and re-set for the next decade (as per PJK). No Kevin Dudd spent the capital surplus and budget surplus's on PRC TV's, burning house insulation and a "Building the Education Revolution" spendathon which was mismanaged.....It's a tie between Little John and Kevin Dudd as to who was Caption Crap.
what about shrinkage?
It wasn't my intention to label Howard the dumbest, just the decision to introduce a GST in the same way a sovereign wealth fund is a pointless activity when viewed from the perspective of a government which funds its own spending. The function of taxation is to force people to use the government issued currency and to control the amount of money circulating in the private sector. Therefore the actual outcome of a decision to introduce a GST is to lower the private sector's savings (as opposed to funding the Federal budget), something which income tax already did. So if he'd scrapped income tax when he introduced the GST then that would have made more sense to me.
Regarding sovereign wealth funds, BER or other government fiscal policy responses, they're probably best discussed in another thread so we don't end up getting too far off topic.
pmbug
Well-Known Member
That's what central banks do to the value of fiat over time.
ladies’n gents…we’re on uncharted territory
If US$30 is reached and substained, AU$50 isn’t far off!
another bull run tonight? or puffed out….?
Whoohoo go Brandon!! All time highs every week!!
