BrendAn Posted June 17, 2023 Author Share Posted June 17, 2023 2 hours ago, danny_galaga said: Actually, I wonder where those wallets are made that that guy is selling 🤔 Did I ever say I don't like Chinese products. You hijacked the thread you could at least get your facts right.. 😁😁😁 Link to comment Share on other sites More sharing options...
old man emu Posted June 17, 2023 Share Posted June 17, 2023 10 hours ago, onetrack said: the Chinese have built whole new cities on ideological grounds, and no-one lives in them. The ideology involved did not come from the Government. It was a massive scam perpetrated to some degree, no doubt, by Chinese organised crime syndicates. It is the same ideology we see here with housing - investment properties. Here we work to get some equity in the house we live in. Then we borrow against that equity to purchase an "investment property". The hope is that the rent will pay the mortgage on teh investment property and appreciation of property values will generate the money needed later in life to finance retirement. The same concept applied in China. Mums and Dads bought "off the plan", but, although the least expensive part of the building (the walls and floor) was built, the building was never fitted out to become habitable. Have you noticed in the usual weekend news reports of housing sales that many attendees are Chinese or Indian? At least in Australia when they invest their money to buy property, it is there to be seen and to move into. 2 Link to comment Share on other sites More sharing options...
danny_galaga Posted June 18, 2023 Share Posted June 18, 2023 1 hour ago, BrendAn said: Did I ever say I don't like Chinese products. You hijacked the thread you could at least get your facts right.. 😁😁😁 You disparagingly said there must be some 'china lovers' here. Clearly you have an agenda posting that vid. It's all getting a bit political. Is there somewhere else you could post about your hatred of EVs? 1 Link to comment Share on other sites More sharing options...
BrendAn Posted June 18, 2023 Author Share Posted June 18, 2023 (edited) 39 minutes ago, danny_galaga said: You disparagingly said there must be some 'china lovers' here. Clearly you have an agenda posting that vid. It's all getting a bit political. Is there somewhere else you could post about your hatred of EVs? Now I hate EVs ?. 😂😂😂😂😂🖕. And having just recovered from covid I have good reason to dislike china Edited June 18, 2023 by BrendAn 1 Link to comment Share on other sites More sharing options...
danny_galaga Posted June 18, 2023 Share Posted June 18, 2023 There you go. Politics. I found this forum for you https://hotcopper.com.au/discussions/politics/ 1 1 1 Link to comment Share on other sites More sharing options...
BrendAn Posted June 18, 2023 Author Share Posted June 18, 2023 29 minutes ago, danny_galaga said: There you go. Politics. I found this forum for you https://hotcopper.com.au/discussions/politics/ 30 minutes ago, danny_galaga said: There you go. Politics. I found this forum for you https://hotcopper.com.au/discussions/politics/ I don't know what your problem is . You didn't even watch the video and then you troll me . Link to comment Share on other sites More sharing options...
old man emu Posted June 18, 2023 Share Posted June 18, 2023 Right-oh, you two. Cut it out or you'll both get sin-binned. 1 1 Link to comment Share on other sites More sharing options...
danny_galaga Posted June 18, 2023 Share Posted June 18, 2023 Meh. I thought I un followed this Link to comment Share on other sites More sharing options...
BrendAn Posted June 18, 2023 Author Share Posted June 18, 2023 18 minutes ago, danny_galaga said: Meh. I thought I un followed this 🖕 Link to comment Share on other sites More sharing options...
spenaroo Posted June 18, 2023 Share Posted June 18, 2023 23 hours ago, old man emu said: The ideology involved did not come from the Government. It was a massive scam perpetrated to some degree, no doubt, by Chinese organised crime syndicates. It is the same ideology we see here with housing - investment properties. Here we work to get some equity in the house we live in. Then we borrow against that equity to purchase an "investment property". The hope is that the rent will pay the mortgage on teh investment property and appreciation of property values will generate the money needed later in life to finance retirement. The same concept applied in China. Mums and Dads bought "off the plan", but, although the least expensive part of the building (the walls and floor) was built, the building was never fitted out to become habitable. Have you noticed in the usual weekend news reports of housing sales that many attendees are Chinese or Indian? At least in Australia when they invest their money to buy property, it is there to be seen and to move into. not necessarily, there is a Chinese cultural issue around "used" things having little to no value. there is a lot of apartments for example in the docklands that are bought by Chinese and left empty. because if someone moves in then it is no longer a new apartment, and in their eyes devalued. 1 Link to comment Share on other sites More sharing options...
turboplanner Posted June 19, 2023 Share Posted June 19, 2023 1 hour ago, spenaroo said: not necessarily, there is a Chinese cultural issue around "used" things having little to no value. there is a lot of apartments for example in the docklands that are bought by Chinese and left empty. because if someone moves in then it is no longer a new apartment, and in their eyes devalued. Rent is a relatively low return on investment in new apartments. Capital Gain is much more productive and an unused apartment brings a better price Chinese who have done well in business are flowing with capital. 1 Link to comment Share on other sites More sharing options...
facthunter Posted June 19, 2023 Share Posted June 19, 2023 They seem to have a like for gambling though. They weren't called the Jews of Asia for nothing, either Nev 1 1 Link to comment Share on other sites More sharing options...
Old Koreelah Posted June 19, 2023 Share Posted June 19, 2023 1 hour ago, turboplanner said: Rent is a relatively low return on investment in new apartments. Capital Gain is much more productive and an unused apartment brings a better price Chinese who have done well in business are flowing with capital. Another reason to reform the tax system, which has become totally corrupted in favour of the rich. If this inequity continues, we may end up with blood on the wattle. 1 1 Link to comment Share on other sites More sharing options...
facthunter Posted June 19, 2023 Share Posted June 19, 2023 IF you get a recession even houses lose their value. Rent return is rarely above about 3.5%. IF you move about a lot you don't need or want to own a house. It's not everybodies ultimate dream. IF you rent you avoid many problems associated with ownership. WE have the biggest most expensive houses in the world and gamble much more. There are other ways to put your money to good use if that's your aim to build it up. Inflation takes it from you but makes your debts easier to settle. It's not designed to suite the average poor Bastard. Nev 3 Link to comment Share on other sites More sharing options...
Old Koreelah Posted June 19, 2023 Share Posted June 19, 2023 It would take a strong leader to get Australia weaned off some of the crippling habits that stunt our nation: gambling, negative gearing and investing too much of our national capital in the family home. 2 1 2 Link to comment Share on other sites More sharing options...
spenaroo Posted June 19, 2023 Share Posted June 19, 2023 (edited) No different to Gun reform.... would take some politicians ready to fall on the sword, knowing they wont be re-elected. knowing it will take years afterwards for the public to acknowledge it was the right thing to do If only we had an opposition that needs to re-invent itself, and is pretty much guaranteed not to get in next election so can go hard and call the government out on all this...... Edited June 20, 2023 by spenaroo 1 1 Link to comment Share on other sites More sharing options...
BrendAn Posted June 20, 2023 Author Share Posted June 20, 2023 On 16/06/2023 at 4:11 PM, Thruster88 said: The guy in the vid is Trevor Jacobs cousin. this bloke has some very interesting videos on china and a lot of comments from chinese people backing him up. he was an english teacher in china for 14 years and is married to a chinese doctor. i don't know what trevor jacobs has to do with it. Link to comment Share on other sites More sharing options...
BrendAn Posted June 20, 2023 Author Share Posted June 20, 2023 short video with an explanation of the ghost cities. no wallets involved Link to comment Share on other sites More sharing options...
BrendAn Posted June 20, 2023 Author Share Posted June 20, 2023 On 18/06/2023 at 9:42 AM, old man emu said: The ideology involved did not come from the Government. It was a massive scam perpetrated to some degree, no doubt, by Chinese organised crime syndicates. It is the same ideology we see here with housing - investment properties. Here we work to get some equity in the house we live in. Then we borrow against that equity to purchase an "investment property". The hope is that the rent will pay the mortgage on teh investment property and appreciation of property values will generate the money needed later in life to finance retirement. The same concept applied in China. Mums and Dads bought "off the plan", but, although the least expensive part of the building (the walls and floor) was built, the building was never fitted out to become habitable. Have you noticed in the usual weekend news reports of housing sales that many attendees are Chinese or Indian? At least in Australia when they invest their money to buy property, it is there to be seen and to move into. i just put up a video that pretty much describes what you said here. Link to comment Share on other sites More sharing options...
onetrack Posted June 20, 2023 Share Posted June 20, 2023 (edited) One thing's for sure - a surplus of idle EV's won't dent anything in the Chinese economy - but their property bubble is going to have an impact for years to come, just like Japans property bubble of the late 1990's did to Japan. And the Japanese have still never properly addressed their property bubble losses, some of the big Japanese banks are still carrying forward massive property losses from that era. Edited June 20, 2023 by onetrack 1 Link to comment Share on other sites More sharing options...
facthunter Posted June 20, 2023 Share Posted June 20, 2023 Yes the Jap Gov't to keep the engineering and building lot happy commissioned far too much Capital works, and got into strife. Their populations is shrinking. Nev 1 Link to comment Share on other sites More sharing options...
kgwilson Posted June 20, 2023 Share Posted June 20, 2023 (edited) Entrepeneurs keep on striving for never ending growth even though throughout the ages they eventually crash and burn. Environmental damage has not abated even though we know that global temperatures are rising and all the agreements to date have failed. The 1.5 degrees increase by 2100 has well gone and 2 degrees is now unlikely. We will all be dead when it all happens but some may be around to see the tipping point to global catastrophe. There are now over 8 billion of us. There were 2.5 billion when I was born. Growth is slowing but will reach around 11 billion before starting to retract. We have the capacity to deal with it and save civilisation as we know it but eternal greed and quick money over rules sensibility and always has. Edited June 20, 2023 by kgwilson 2 1 1 1 Link to comment Share on other sites More sharing options...
Area-51 Posted June 20, 2023 Share Posted June 20, 2023 What a crock of shit ill informed baseless anecdotal Western Neo-Con presentation... 3 Link to comment Share on other sites More sharing options...
facthunter Posted June 20, 2023 Share Posted June 20, 2023 Whatever your take on things, ENDLESS growth must still by definition be IMPOSSIBLE. Nev 1 2 Link to comment Share on other sites More sharing options...
BrendAn Posted June 20, 2023 Author Share Posted June 20, 2023 22 minutes ago, facthunter said: Whatever your take on things, ENDLESS growth must still by definition be IMPOSSIBLE. Nev I have watched 60 minutes and dateline episodes on the same thing and they all come to similar conclusions. Link to comment Share on other sites More sharing options...
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