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AUSTRALIA is in the midst of the “largest housing bubble on record” and when it bursts it will be a “bloodbath”.
This is the assessment of two housing economists who claim Australia is on track for a US and Irish-style collapse because of an oversupply of housing in the country.
In a frank and scathing submission to the upcoming parliamentary inquiry into home ownership which will begin this Friday, Lindsay David and Philip Soos criticise politicians and the housing industry for perpetuating the myth of housing shortages in major capital cities.
They claim there is actually an oversupply of housing, especially in Victoria.
Get ready for the next crisis, it's going to be far worse than 2008. Get out of debt. Money in the bank may not be there when you need it. A core holding in precious metals is a must. Invest in alternative energy for your home, it will pay a huge return. Be careful of your investments in Wall Street, they may not be there when you most need them. Most of all, be prepared!
Solar power will eventually get so cheap that it will outcompete new fossil-fuel plants and even start to supplant some existing coal and gas plants, potentially stranding billions in fossil-fuel infrastructure. The industrial age was built on coal. The next 25 years will be the end of its dominance.
This winter, I traveled to Ohio to consider what would happen if technology permanently replaced a great deal of human work. I wasn’t seeking a tour of our automated future. I went because Youngstown has become a national metaphor for the decline of labor, a place where the middle class of the 20th century has become a museum exhibit.
The report, commissioned and published by The Lancet medical journal, was compiled by a panel of specialists including European and Chinese climate scientists and geographers, social, environmental and energy scientists, biodiversity experts and health professionals.
Probably the first public indication that things were heading downhill for Lehman wasn’t until June 9th, 2008, when Fitch Ratings cut Lehman’s rating to AA-minus, outlook negative.
The “negative outlook” indicates that another further downgrade is likely. In this particular case, it was the understatement of all time.
So we have the people for whom collapse is a means of claiming unearned power, the people for whom it’s a blank screen on which to project an assortment of self-regarding fantasies, and the people for whom it’s an excuse to do nothing in the face of a challenging future. All three of those are popular gimmicks with an extremely long track record, and they’ll doubtless all see plenty of use millennia after industrial civilization has taken its place in the list of failed civilizations. The only problem with them is that they don’t happen to provide any useful guidance for those of us who have noticed that collapse isn’t merely a rhetorical gimmick meant to get emotional reactions—that it’s something that actually happens, to actual civilizations, and that it’s already happening to ours.
In most corners of the world, deflation is currently a far bigger concern than inflation, let alone hyperinflation. The typical central banker has to worry about having too little power to influence wages and prices, not too much. Governments do have the capacity to create Zimbabwe-style hyperinflation through deficit spending, but that requires far more excess than any halfway decent political system will allow.
Instead of imposing devastating austerity measures and bailing out its banks, Iceland let its banks go bust and focused on social welfare policies. It has now repaid 85% of UK claims. When the global economic crisis hit in 2008, Iceland suffered terribly—perhaps more than any other country. The savings of 50,000 people were wiped out, plunging Icelanders into debt and placing 25% of homeowners in mortgage default. Now, less than a decade later, it will become the first European country that faced collapse to beat its pre-crisis peak of economic output. The IMF declared that Iceland had achieved economic recovery 'without compromising its welfare model' of universal healthcare and education.
the TPP would steer member states towards pro-business, anti-consumer healthcare policies.It would crush the public health system of New Zealand and Australia. It would restrain governments' abilities to provide healthcare and medicine to citizens.
Why there is any debate about what is the primary root constraint and determinant of our journey, makes no sense at all, in our opinion. Entropy is the most pervasive defining principle of ourunderstood universe's elements and relationships. It simply interconnects all things.
Below is a brief pre-flight video documentary, released this past March, that adds further support to this universal connection string; starting from our primary survival and procreation needs, to theeconomy, to money, to oil, to energy, and then right back to entropyExcept for Ivy-League(sic) Economists and Nobel Prize Winners, these are straightforward connections that most folks can readily understand - Right?
The paradox is that the need to survive and procreate drives the entropy that ultimately creates a final heat death or a situation where no organized form of energy exists, to particularly serve our survival need, in the universe. And our survival need appears to have a deeply-embedded insatiable-thirst for energy, which in itself contradicts its initial purpose. And that's not as straightforward.
Moreover, we seem to be constantly trying to fight or usurp this second law of thermodynamics. But instead, we unknowingly act as fully obedient servants to an invisible master, by doing all that we can to accelerate the transformation of usable energy into its chaotic form, despite fully knowing where it leads us. Worse still - we do so, with reckless and perverse exponential delight! Hmm. However, there is a resultant optimistic point in all this. Insofar as, if we do not identify and understand what the critical underlying issues and constraints are - then there is little or no chance of moving towards either its better situational management or even a possible solution. Quantum Physicists, such as Vlatko Vedral, in his book Decoding Reality,sets out that there are logical possibilities beyond today's known rules of the universe. So there still remains a flicker of hope, in the painting of our darkening predicament. Whether any practical discoveries or broad applications evolve from this form of work and thought is impossible to know. But at the very least:it could yield for us a better attitude, which is a little thing - that can make all the difference! Meanwhile - Flight 2100 is departing fromGate A23
Cheers For Now! First Financial Insights On behalf of: Infinity Express Flight 2100 5 November 2013
Not since the dawn of time has one short story so deeply rocked and stirred the minds of readers worldwide. From beginning to end, it intoxicates your thoughts and senses, leaving you with just one inevitable question?
Premiers
November 15th 2013
At First Financial Insights and other participating websites.
On this November 15th 2013, 7 pm (EST), you are invited to join the many thousands worldwide attending thisRed Carpet Eventat First Financial Insights that Premiers:
Infinity Express Flight 2100: Entropy Fueled
In less than five minutes, this short story takes you from the dawn of time, to a place where eternities meet eternities. So bookmark this site, mark this time, and be one of the first of your friends to tune in and know the journey of our times!
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First Financial Insights
October 30, 2013
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