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A SHORT LIVED RECOVERY ?

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Re: A SHORT LIVED RECOVERY ?

Postby Robin Hood » Mon Mar 23, 2020 1:36 am

Paphitis wrote:
Robin Hood wrote:Paphitis.
A few corrections ........ assuming that Australia is following the same path as most of the other announced State settlements such as in the UK. You should read the small print instead of just the headlines in the press!
Government is giving out loans at 0.25%

Governments do not give loans Banks do! The Central Bank only determines the base interest rate.
We have a lot of money in the bank at the moment with our sovereign funds and our government has just increased the stimulus package to 189 Billion.

You have a growing national debt of currently A$452,500,000,000 ..... and you say, have just apparently added another A$189bn
Welfare has just been made non asset tested. So if anyone loses their jobs, they immediately qualify for newstart
.
With a small grant if you qualify and a loan from the Private Banks .... supposedly underwritten by The State,..... more private debt!
They have announced a pause on all mortgages.

The Banks will not be able to default you if you cannot pay ..... they defer re-payment but you still accumulate compound interest i.e. your debt increases daily. When your time runs out ..... they will foreclose if you cannot pay your debt.
They have said that no Australian Family will lose their home and no Australian business will go bankrupt.

At the moment ........... all they have done is defer the consequences of failure to meet the mortgage terms and the terms that determine bankruptcy are also deferred so that proceedings against the defaulter are delayed.
Every business is entitled to a loan at 0.25% to pay their leases and staff.

Another private loan ........... but only if the business meets the Banks loan requirements and that requires the means to repay and the collateral to support it.

You live in cloud cuckoo land ....................... :roll:


Our Government is underwriting all the loans, and our Government does give loans. It's been doing that for decades now.

For example, university loans to pay university fees to be paid through the Higher Education Scheme.

Our National Debt is one of the lowest in the world. So no, we don't have a debt problem. And we are heavily backed up by our Sovereign Wealth Fund which is more than our debt and the Private Super Scheme which is worth 4 Trillion.

Our finances are healthy. Our economy is about to tank but that is only because we have been gradually shutting the economy down over the last 2 weeks and are headed for a complete lock down.

Our Government has done a lot of things, and thir actions are quite innovative from what I can see and compare to the rest of the world.

In fact, we are as a country the arch Communist State. The have gone full Socialists. Our Government has rolled out plans to protect home owners and businesses. Not bad for a Trump mini me.

I have not heard of another country press a "pause button" on mortgages and give out loans to business to ensure no business need to hit the wall towards Bankruptcy. And the 189 Billion worth of stimulus is massive.

There are even talks that the Government will release super funds and allow people to access their super - another 4 Trillion available.

So as our Government has already said. There really is no need to panic and people should look after their health and not worry about money. No one will be left wanting in Australia. Australia is the best country to face this country. It's the best country to be in when times are good, and especially in times of international crisis.


You know Jack Shit about almost every thing! You don't have a clue! :roll:

Australia is the best country to face this country. It's the best country to be in when times are good, and especially in times of international crisis
.

If that's so why are you so keen to go to the US? ..... because it's an even better 'best country in the World? :lol: :lol: :lol:
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Re: A SHORT LIVED RECOVERY ?

Postby Paphitis » Mon Mar 23, 2020 2:58 am

Robin Hood wrote:
Paphitis wrote:
Robin Hood wrote:Paphitis.
A few corrections ........ assuming that Australia is following the same path as most of the other announced State settlements such as in the UK. You should read the small print instead of just the headlines in the press!
Government is giving out loans at 0.25%

Governments do not give loans Banks do! The Central Bank only determines the base interest rate.
We have a lot of money in the bank at the moment with our sovereign funds and our government has just increased the stimulus package to 189 Billion.

You have a growing national debt of currently A$452,500,000,000 ..... and you say, have just apparently added another A$189bn
Welfare has just been made non asset tested. So if anyone loses their jobs, they immediately qualify for newstart
.
With a small grant if you qualify and a loan from the Private Banks .... supposedly underwritten by The State,..... more private debt!
They have announced a pause on all mortgages.

The Banks will not be able to default you if you cannot pay ..... they defer re-payment but you still accumulate compound interest i.e. your debt increases daily. When your time runs out ..... they will foreclose if you cannot pay your debt.
They have said that no Australian Family will lose their home and no Australian business will go bankrupt.

At the moment ........... all they have done is defer the consequences of failure to meet the mortgage terms and the terms that determine bankruptcy are also deferred so that proceedings against the defaulter are delayed.
Every business is entitled to a loan at 0.25% to pay their leases and staff.

Another private loan ........... but only if the business meets the Banks loan requirements and that requires the means to repay and the collateral to support it.

You live in cloud cuckoo land ....................... :roll:


Our Government is underwriting all the loans, and our Government does give loans. It's been doing that for decades now.

For example, university loans to pay university fees to be paid through the Higher Education Scheme.

Our National Debt is one of the lowest in the world. So no, we don't have a debt problem. And we are heavily backed up by our Sovereign Wealth Fund which is more than our debt and the Private Super Scheme which is worth 4 Trillion.

Our finances are healthy. Our economy is about to tank but that is only because we have been gradually shutting the economy down over the last 2 weeks and are headed for a complete lock down.

Our Government has done a lot of things, and thir actions are quite innovative from what I can see and compare to the rest of the world.

In fact, we are as a country the arch Communist State. The have gone full Socialists. Our Government has rolled out plans to protect home owners and businesses. Not bad for a Trump mini me.

I have not heard of another country press a "pause button" on mortgages and give out loans to business to ensure no business need to hit the wall towards Bankruptcy. And the 189 Billion worth of stimulus is massive.

There are even talks that the Government will release super funds and allow people to access their super - another 4 Trillion available.

So as our Government has already said. There really is no need to panic and people should look after their health and not worry about money. No one will be left wanting in Australia. Australia is the best country to face this country. It's the best country to be in when times are good, and especially in times of international crisis.


You know Jack Shit about almost every thing! You don't have a clue! :roll:

Australia is the best country to face this country. It's the best country to be in when times are good, and especially in times of international crisis
.

If that's so why are you so keen to go to the US? ..... because it's an even better 'best country in the World? :lol: :lol: :lol:


i think you should not worry too much about the real Socialist Republic of Australia. We know how to look after our people without putting virus carriers to the wall in front of a firing squad. :mrgreen:

Why am I keen to go to the US? because I landed a great job there, and because I really do think Americans are very nice people and aviation there is the ultimate in professionalism, and because New York is a very exciting place and quite literally the center of the universe. Comparable to none. No place like New York and there will never be a place like New York.

I think Americans are the best people in the world. I don't make that statement lightly. Better than Australians and better than Cypriots. Their way of thinking is just better.

Plus, I want my kids to earn their citizenship and because my daughter said she wants to go to Harvard. How is that for ambition for a 9 year old. 8)
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Re: A SHORT LIVED RECOVERY ?

Postby Londonrake » Tue Mar 24, 2020 8:50 pm

I went all-in at the weekend, on a spread of funds, when the FTSE had hit 5000. I got the contract notes late yesterday afternoon. Today the Stock Exchange had its biggest rise since 2008.

When to drop out again though? :?

Sometimes we hit lucky. :D
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Re: A SHORT LIVED RECOVERY ?

Postby erolz66 » Tue Mar 24, 2020 9:19 pm

Londonrake wrote:I went all-in at the weekend, on a spread of funds, when the FTSE had hit 5000. I got the contract notes late yesterday afternoon. Today the Stock Exchange had its biggest rise since 2008.

When to drop out again though? :?

Sometimes we hit lucky. :D


Personally I would cash out with your 9.05% gain.
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Re: A SHORT LIVED RECOVERY ?

Postby Londonrake » Tue Mar 24, 2020 9:35 pm

erolz66 wrote:
Londonrake wrote:I went all-in at the weekend, on a spread of funds, when the FTSE had hit 5000. I got the contract notes late yesterday afternoon. Today the Stock Exchange had its biggest rise since 2008.

When to drop out again though? :?

Sometimes we hit lucky. :D


Personally I would cash out with your 9.05% gain.



Rumour has it (which of course is what it's usually about) that the Fed are going to come up with an offer the markets can't refuse.

Always a difficult call of course. :(
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Re: A SHORT LIVED RECOVERY ?

Postby erolz66 » Wed Mar 25, 2020 12:46 pm

Londonrake wrote:
erolz66 wrote:
Londonrake wrote:I went all-in at the weekend, on a spread of funds, when the FTSE had hit 5000. I got the contract notes late yesterday afternoon. Today the Stock Exchange had its biggest rise since 2008.

When to drop out again though? :?

Sometimes we hit lucky. :D


Personally I would cash out with your 9.05% gain.



Rumour has it (which of course is what it's usually about) that the Fed are going to come up with an offer the markets can't refuse.

Always a difficult call of course. :(


Look out
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Re: A SHORT LIVED RECOVERY ?

Postby Londonrake » Wed Mar 25, 2020 12:56 pm

erolz66 wrote:
Londonrake wrote:
erolz66 wrote:
Londonrake wrote:I went all-in at the weekend, on a spread of funds, when the FTSE had hit 5000. I got the contract notes late yesterday afternoon. Today the Stock Exchange had its biggest rise since 2008.

When to drop out again though? :?

Sometimes we hit lucky. :D


Personally I would cash out with your 9.05% gain.



Rumour has it (which of course is what it's usually about) that the Fed are going to come up with an offer the markets can't refuse.

Always a difficult call of course. :(


Look out


Like you, I can loose it without breaking the bank. Although, it would break the heart of course. :lol:

I thought I was going to double up this morning, when it hit +5% just after open. Back to fairly flat right now though. £ is creeping up a bit again.
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Re: A SHORT LIVED RECOVERY ?

Postby erolz66 » Wed Mar 25, 2020 1:29 pm

In a market of such volatility my view is book profits when you can. Glad to hear you can afford the loss should such happen, when you said 'all in' I did worry a bit for you. Seems to me every stimulus injection so far has led to immediate spike and then fall back to lower levels. Main thing is to keep safe and do your bit to help slow down of spread. It's only money at the end of the day.
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Re: A SHORT LIVED RECOVERY ?

Postby Londonrake » Wed Mar 25, 2020 9:36 pm

Pretty good again today. Another 4.45%. Can it last? :shock: :lol:
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Re: A SHORT LIVED RECOVERY ?

Postby Maximus » Thu Mar 26, 2020 2:04 am

Erolz, since you are a crypto currency fan boy,

Im interests in your opinion on a question I have.

What do you think will happen when mining becomes too unfeasible, or once all the coins have been mined? who is going to continue to run the network to maintain the block chain?
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