Global economic situation for liveaboard cruising yachties

[boat fan]

Originally Posted by Landlubber

Mas,

And remember, this is a Government that just 18 months ago had NO debt ..

NO debt. In fact it had enough money to create the Future Fund to pay
the future liabilities of public servants' superannuation ... and it had
enough to stick $20 billion into the Building Australia Fund last year

....

Hardly relevant when you consider what has happened globally during those 18 months.

While the interest rate on those borrowings is a real worry , it`s rather unfair to make reference to the tired old " no debt "spiel.

You sound like Shrek.....( Joe Hockey )

[masrapido]

Originally Posted by apex1

Senad
falemin dherit shume, but


Nono Srbsk, not as rude, you have proven already you are better in that discipline, and especially being primitive too!

>>>you should return back to school (this time in a civilized country) and learn history!<<<
Not what your leaders liked to tell you!

You are wrong in almost every single case!
And I do´nt use wiki nonsense....I get my knowledge at the places I´m talking. From people who know, not "believe" what happened.

More than 15.000 Albanian people live in Calabria since centuries...and they came from Albania.
Albanian ARE of Illyrian roots, or at least assimilated the Illyrian remainders and language.
Albanian language is one of the five "language forming" languages in Europe, and not related to any other. Yes I speak Albanian (and some others).

Bulgarian leaders had the power centuries before the first Serbian clan chief fell from his tree.

Byzanz is Byzanz in Byzanz, where I am at present..........
of course some premature societies, like the serbian, spell it different...

for the rest: stay dumb, ignorant, fanatic and agressive, thats old tradition in your country.......

Geez apex, what is wrong with yhou now? retards infection spreading? Why do you people have to spit your venom by insulting others?

You must be Albanian...

In any way how about refraining from personal attacks? Or are you too "civilised" to be that strong?

[Landlubber]

"Hardly relevant "..............well I personally see it different mate, to me, having no debt is far more important that filling the coffers of the pathetic banks here.....but then again, I have no money worries....I have no money!

[Boston]

real question is do you have any debt


Im sitting on my ars again looking to begin my next project. Just some little stuff going on at the moment.

the real J P Morgan way back in the crash of 1907 was asked to come in and look at the situation and asked what he thought
he looked over some books
decided who was failing
and let them fail

yes they threw money at some to prevent a run and call situation but thats not what was happening in 2008~9
in this case it was derivatives off high risk mortgages

I say starting with Reorge and hopefully ending with Obummer we got screwed and now unless they restructure the money
we're all going to be paying for a long time to come

B

[boat fan]

Originally Posted by Landlubber

"Hardly relevant "..............well I personally see it different mate, to me, having no debt is far more important that filling the coffers of the pathetic banks here.....but then again, I have no money worries....I have no money!

It`s hardly relevant because the Neanderthals that were " running " the country and screwing us over for 11 years were not faced with those issues at the time.
It`s not hard to introduce a new supertax ,rake in the cash and sit on your arse is it ?
They happily robbed us , paying no heed to the fact that our one and only significant river was all but dead ,and criminally neglecting to maintain , let alone improve much needed infrastructure , all the while going on their junkets and forming yet another " committee" for this , that and the other.No wonder they had
" SURPLUS " !!!

Garret and Wong are no better I`ll admit that readily.
The succession of "primates in power " continues.......

[masrapido]

boat fan, how do you explain that (primates in power) given that in Australia people do vote, unlike in some other parts of the "free world"? The conclusion I draw is that in Australian case it is the fault of the voters themselves for the choice of politicians.

As wrong as that choice may be, Australia is still much better off economically than usa or many European (developed apparently) countries.

But te responsibility is ultimately on the voters...

[boat fan]

A little naive point of view I`m afraid , we don`t have anyone with any " vision " or ability to choose from I`m afraid. The rot set in during our " colonial " days and we never had the luxury of being able to choose any better since. No contenders of substance or quality .Just primates.

Most people here don`t realize how much trouble we are in here , and what is coming ,so I don`t for one minute expect the rest of the world to know.

[Landlubber]

boat fan,,

yep, you are right, there really is no statesman to choose from, they are interested only in what they can rape out of us, retire on enermous welfare funds and stuff the country as a whole....sad but true.

[masalai]

The essence being that as the "global reserve currency", being used in most international valuation and trade, The US$ has unique and significant impact on world economies... If this responsibility is abrogated in preference to playing "internal domestic fixes", the special privileges and responsibilities inherent and accepted by USA, of the US$ being the currency of international exchange are destroyed... This leads to a position where it is - "unacceptable of another country to meddle in another country's internal affairs" - So I refrain except to post "news" from various sources of the damage, mainly as recognised from within USA, via blogs and formal advisory websites that have demonstrated that they are generally on "top of the situation" - - I then reserve the "right" to slag off at countries that do not meet their international obligations, In particular those with special privileges (international currency of trade etc)...

The debt levels in Australia are not good, but considering the potential level of **** by poor investment advice and inflexibility in adapting to change many investors (super funds, special investment arrangements in / through banks and other vehicles, Australia is reasonably positioned to recover with the first group in the world... (I recovered a 15% loss and returned 50% after 12 months by April this year... I am not by any means brilliant, just basic average but with the time and incentive to read for about 4 hours daily...) In March 09, I feel, (only detected and confirmed this fairly recently via quarterly data releases), was when the manipulative actions of the US-FED and US-Treasury and associated domestic recovery plans had real and noticeable impact in Australia, on the parts I watch, and in some other external economies... Apart from the losses in shares and other paper investment vehicles such as derivatives... Australia is not too bad, but still a stupid slave to Keynesian economics views, which Bernankie's predecessor now admits were wrong and flawed, - slavishly following a USA lead to greater disaster in the future...

Lets get a bit of the big picture view, http://en.wikipedia.org/wiki/List_of...y_GDP_(nominal) Global gross national product was around US$60trillion (2008), US created debt in derivatives is more than US$600trillion http://www.usdebtclock.org/ and the impact of that WILL BE DEVASTATING for the WORLD and leak out and infect all markets it will... In the interim the game of devalue your currency "to stay competitive", is the game everyone is playing - The AU$ is stronger by some (as at 20-11-09) 40% since March 09 and a peak of 57% on 16-11-09 - will the carry trade push it up again, or will events force a reduction in value What further games are the FED et-al, planning and what will the collateral damage be for the rest of the world...

To check out other currencies http://www.dailyfx.com/charts/netdaniachart/ select a pair from >instruments> then click on the period <Ticks ~ 8H, D, W, M> (you will need Java installed)

The root of the global economic problem is NY, USA, because of the sheer size and volume of worthless paper debt (onsold as assets) and money velocity generated by the actions of the FED and Treasury in NY need to be removed - and I have not a clue as to how, except to quarantine & sterilise USA until it is sorted... The manipulation, malpractice, malfeasance and all other maladies are allowed to happen because the "watchdog" has been fed copious amounts of 'valium' and locked in a dungeon and held securely by heavy chain...

Politicians are gutless and generally seem to follow the path of least resistance to keep the status-quo... That is what voters generally do in voting - affirm that desire to stick to the path of least resistance and make no changes... A few are willing to take in extreme ideas which may sound good superficially but not likely to be implemented in comfortable or reasonable times... Just far too many, political, credibility and other bureaucratic obstacles to be broached, as well as "self preservation" from mainstream politics and a bored media trying to pick between tweedle-dum and tweedle-dee when up pops a "media" saviour of the hour, a reasonably attractive "fish&chip shop owner/manager" from Ipswich, Queensland, and a journalistic feeding frenzy ensued with little need for much "burley tossed into the waters" to keep the frenzy active... Australia, according to wikipedia is around 14 to 20th http://www.data360.org/dsg.aspx?Data_Set_Group_Id=591 on a global scale in GDP so usually is forced to "wear it", not much can be done there... both Australian major political parties being equally incompetent but JH (Liberal/Country party coalition Prime Minister at the time) tops it for me by selling Australia's gold reserve... almost at the low point (The Liberals great economist) - I think not...

International economics is about money, and gold is money, along with other precious metals in a highly (99.99%) refined state, and is readily exchanged for money in most countries at a publicised rate... Gold the metal is finite and cannot be created so does not carry any other burden like paper debt of other fiat money...

[masrapido]

Yes, selling gold reserves so massively and all at once cannot be smart move no matter what problem one's economy is in. Gold reserves are the last resort for borrowing the money from international banks if one's economy shits itself (which is always govt fault). But there always are better options around.

[masalai]

http://www.caseyresearch.com/displayGsd.php "Jim Rickards' Gold Price Prediction Tops $10,000" - - just in case you did not see it elsewhere - Don't forget the end notes, my daily high-lite...
http://www.caseyresearch.com/displayCdd.php?id=282 "The Horror" mainly for / about USA... but further down this pearl for Frosty "A Global Problem" "... For your readers outside Europe, you may not have heard of either of these persons. Don't worry, folks. I live in Portugal and hold a British passport and keep my ears close to the ground, and I had never heard of Rompuy or Baroness Ashton. Britain's Sun has already dubbed them "Rumpy and Frumpy"! The Daily Express talked to Rompuy's sister who also is in politics. She described her brother as "a clown". ..." and some bloody good "jokes" near the end of the essay...
http://www.gata.org/node/8053 "House committee adopts Paul amendment strengthening Fed audit bill" - - Another small step
http://www.gata.org/node/8054 "GATA chairman's Bloomberg TV appearance posted at YouTube"
http://www.youtube.com/watch?v=rw4T6IdHJ3w Watch these three links in order as each follows on to complete the interview - fast paced and very interesting...
http://www.youtube.com/watch?v=06_NMci4xnw
http://www.youtube.com/watch?v=OYiQZzbzeXo

http://www.theaureport.com/pub/na/3309 "James Passin: The Feedback Loop" to subscribe http://www.theaureport.com/ at the top right...

[masalai]

http://www.dailyreckoning.com.au/ subscribe to get the latest by email, it is free...
http://www.moneymorning.com.au/ subscribe to get the latest by email, it is free...

[boat fan]

Originally Posted by Landlubber

boat fan,,

yep, you are right, there really is no statesman to choose from, they are interested only in what they can rape out of us, retire on enermous welfare funds and stuff the country as a whole....sad but true.

Originally Posted by Masalai;

You have discovered All politicians are from the bottom of the tree of life - - - one step above amoeba... My motto for politicians is to have NO EXPECTATIONS... Then you won't be disappointed... Be prepared to instigate lots of noise to keep them on the right track (they seem to prefer the path of least resistance)...

I think I can now safely assume I am not alone ......

[masalai]

I am waiting for "Pauline" (either version), to contribute and make a foursome of divergent pessimistic views? or how about our absent 400Kg Gorilla from Melbourne "MeanzBeanz" who was into oil trading? in the original economics thread... Or "bergalia" who may be boatbuilding somewhere in the middle of Australia in anticipation of some prophesy?...

http://www.gata.org/node/8055 "Paulson gold fund imposes stiff rules, hires gold unenthusiast Reade"

[boat fan]

Yes , where are they ?