Emerging Pressures

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–Oh now. There are “emerging inflationary pressures” in the economy says Treasurer Wayne Swan. But only for things you might really need, like vegetables (+16%), petrol (+9%), and electricity (+5%). For things that you can wear, watch, or lounge on, prices are actually falling (electrical goods down 7% in the March quarter, furniture down 6%, linens down 5%, and shoes down 4%).

–Let them eat shoes.

–The annual inflation rate for Australia is now running at about 3.3%. You can blame some of the key inflation culprits on unforeseen circumstances, like cyclone Yasi and the flooding in Queensland in March. But it’s harder to explain away the rising cost of fuel and power. Those hurt. And they are things people need, not things people merely want.

–What would really hurt, of course, is if the big Aussie banks put up interest rates in the face of rising inflation.  Rising interest rates mean rising home loan rates. And then we’d find out how close many Australians are to having no margin for error with their monthly expenses.

–Then again, people find a way to cut costs when they have to…as long as there isn’t a big spike in interest rates. And what could cause a big spike in interest rates? A U.S. dollar crash you say?

–Well, it’s hard to argue that the dollar is NOT crashing. June gold futures traded at $1,529.10 and silver futures rebounded almost five per cent to $48.35 in New York. This was after U.S. Federal Reserve Chairman Ben Bernanke fronted the media and told everyone…that nothing would be changing!

–Specifically, the Bernank said that the Fed would end its $600 billion bond-buying program on schedule in June. But he also said, “We are going to continue to reinvest maturing securities, both Treasuries and MBS, so the amount of securities that we hold will remain approximately constant…The amount of monetary policy easing should remain constant going forward from June.”

–Translation: QEII is ending. But easy money is here to stay. Virtually any asset that’s not U.S. cash loved this announcement. The Dow and the S&P—also not U.S. cash—both made their highest closes since 2008.

–The next real test for the dollar is when the U.S. reaches its statutory debt limit sometime in May. You can expect some kind of cock-a-mamey deal between the Congress and the President. It will cut spending, raise taxes, and raise the debt ceiling. That may avert a full on rout in the dollar.

–The U.S. dollar is probably overdue for a rally. The fact that it hasn’t rallied tells you global attitudes toward it as the world’s reserve currency may be fundamentally changing. Even so, is it possible the greenback could rally and take some of the starch out of rising commodity prices (especially oil)?

–Anything is possible. But the Bernank made it pretty clear he’s not going to raise rates. A dollar rally won’t come from rising U.S. rates. Where it will come from? U.S. economic growth? A lower budget deficit? A lower debt?

–Hmm. Well, we’re just speculating now…but a full-on outbreak of inflation in emerging markets might scare people out of those assets for a bit and back into the dollar. For example, truckers in Shanghai are striking in protest at the cost of fuel in China. That’s just one small example of how inflation in food and fuel can threaten normal economic activity for normal people.

–But let’s assume China is not going to blow up into an inflationary mess just yet. There is always a European government that seems to be on the edge of a fiscal abyss. Interest rates on two-year Greek government debt are now 22%. Last week, Greece’s government reported that its 2010 deficit would be 10.5% of GDP and not 9.4%

–What’s one per cent among friends? Well, to investors, this is confirmation that Europe’s debt problems need to be restructured. The alternative is another bailout by the rich nations in Europe. But even then, a plan like that would involve money printed by the ECB, leading to Euro weakness. Mind you Euro weakness is not automatically dollar strength. But it’s a thought…

–But if most paper currencies (the commodity currencies excluded) are getting weaker in terms of gold, what else could make the U.S. dollar rise? How about a geopolitical crisis? Or how about a genuine 20% correction in stock and commodity prices?

–It will be interesting to see how the markets view the Fed action after a few days.  If the Fed does keep the size of its balance sheet “constant” will it be enough to support stocks? Does it finally have enough strength to stand on its own earnings? Or is a version of the dollar carry trade back on, where speculators borrow in greenbacks to load up on commodities?

–One thing we do know for certain is that there are a lot of big borrowers in the world and not as many big lenders. This alone puts an indirect pressure on Australian interest rates. In the meantime, the Aussie dollar’s strength means the entry price for Aussie gold is pretty attractive, relatively speaking.

–Speaking of relative strengths and weaknesses, our trading colleauge Murray Dawes added a new update to his YouTube channel last week. You can view the Slipstream Trader YouTube Channel here. This will show you the key indexes and relationships Murray analyses to generate trades on the Aussie-listed stocks. You can also click on the image below.

Source: Slipstream Trader YouTube Channel

–And finally, on a lighter note, it’s hard to imagine Ben Bernanke’s halting, um-filled, public speaking style will inspire much confidence in his monetary policy. We have a suggestion. More Les Grossman, less Ben Bernanke (warning, possibly offensive language at the YouTube clip). The two look alike. And if Bernanke just shakes his money maker a bit, it might loosen people up and get them feeling good about the greenback. Whaddya reckon?

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Dan Denning
Dan Denning examines the geopolitical and economic events that can affect your investments domestically. He raises the questions you need to answer, in order to survive financially in these turbulent times.
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Comments

  1. Well don Dan.

    I often looked at the slipstream trader advertising on your site and wondered why Daily Reckoning allowed that sort of “product” on their site.

    I wondered whether it was appropriate and whether DR was a sell out.

    Well, you’ve put that question to bed. You are now advertising in your articles.

    Hey, what the hell. As long as you make some money from it right?

    Who cares about things like morals, except hold on!. I seem to recall you recently said Wall Street is there just to make themselves rich….

    Thankfully DR are morally superior and only do things to help their readers.

    Reply
  2. Oops.. silly me…. you are peddling your own wares…

    “Slipstream Trader is published by Port Phillip Publishing Pty Ltd”

    Reply
  3. What kind of financial services is PPP authorised to provide and what kind of
    products do these services relate to?
    Port Phillip Publishing Pty Ltd is licensed by the Australian Securities and Investments Commission
    (ASIC) to carry on a financial services business to:
    • provide general financial product advice for the following classes of financial products;
    • securities
    • derivatives
    to retail and wholesale clients (our subscribers).
    We advise on securities through our newsletters, e-letters, websites and reports.
    We do not offer any services for you to buy or sell the securities or derivatives we recommend. A
    list of stockbrokers who are licensed to deal in securities is available from the Australian Securities
    Exchange (www.asx.com.au).
    IMPORTANT: We provide general financial product advice only, not personal financial product
    advice. The advice published by Port Phillip Publishing has been prepared without taking into
    account your objectives, financial situations or needs. Before acting on our recommendations, you
    should consider their appropriateness to your specific investment objectives, financial situation and
    needs. If you are uncertain as to what your objectives and needs are, you should contact a financial
    adviser or stockbroker who is licensed to provide you with personal financial product advice.
    How does PPP get paid?
    Port Phillip Publishing is a subscription-based service. A subscription fee is payable when you
    subscribe to one of our newsletters. Some of our e-letter services are free. Publisher’s prices at the
    time of preparation of this FSG are:
    • Slipstream Trader – A$1495 annually
    • The Swarm Trader – A$1499 annually
    • Diggers and Drillers – A$298 annually
    • Australian Small Cap Investigator – A$199 annually
    • Australian Wealth Gameplan – A$299 annually
    • Sound Money Sound Investments – A$998 annually
    • The Daily Reckoning – Free email service
    • Money Morning – Free email service

    Reply
  4. Wow. Have I been naive all this time.

    Your advertising is worded as though it is independent to DR….

    —-
    “In 2010, one super-bright stock analyst helped Australian investors avert an 11% loss on David Jones… a 20% loss on Toll Holdings… and a 22% loss on Westpac stock.”

    —-

    Now I understand the true motivations of DR. And here i was just thinking you were all just harmless lightweight publishers.

    I had no idea you were sellers of snake-oil.

    Reply
  5. more funny snake oil…

    “And now you could benefit from my contacts – every trade I’ll send you will have their comments factored in. So each trade you make, you will be trading just like a currency trader in the City!!

    NO effort, NO skill, NO hassle… I’m going to cherry-pick what I believe are my very best money-making opportunities and rush them to you..”

    Please people. Do not pay a cent for the crap these people are trying to sell. Trading and making money from it is WAY more than a few buy and sell orders. The reason most poeple fail is because they look for the easy way out, like these products being peddled by Snake Oil Inc (aka DR). Make no mistake, trading is a full-time job and to do it long term and profitably requires dedication and a total emotional detachment from the trade and the money involved.

    Buyers Beware.

    Reply
  6. Mate, in your last post you’re quoting from an advertisement that isn’t even ours. Get your facts straight before you cast aspersions.

    And of course we’re going to feature the work of the full time analysts we’ve hired. That’s why we hired them…to produce investment and trading ideas for individual investors. This is where we present those ideas.

    And of course it’s for sale. This is not a university or a public service. It’s a business that sells investment ideas. If people like it, they buy it. And if it benefits them or they profit, they renew. I’m not sure what’s so hard about that to understand.

    Also, we’re under no obligation to publish your comments, especially if you’re attributing advertising to us that isn’t ours. Criticize all you like. It’s a free world. But get your facts straight, please.

    Reply
  7. prozac, you have been on about this for years. The audience has heard and is aware. We read free copy, we understand that DR is supported and funded by providing publicity to other publications, buyer beware. Do you watch PBS? Doesn’t DR always declare they are sister publications when promoting them? Matter extinguished. You wouldn’t have been brought up a socialist would you?

    Let’s go to the other side. Remember crony capitalism? Remember Telstra and American friends that never created any value in their lives but through their political mates and compliant boards always took the silverware and left a wreck? Well the McGauchie mate that filled in the paycheck is at it again …

    http://www.bloomberg.com/news/2011-04-28/australia-risks-dumbing-down-rba-leadership-mcgauchie-says.html

    What’s up in the inflation stakes Glenn Stevens? Executive pay, bank rents on existing floating rate loans, and financial services fees. Good work brought to you by the crony capitalist estate that answers to noone, not the shareholders of a private public company, not the parliament or the public in the PUBLIC enterprise that is the RBA. Glenn has obviously been spending too much time with his private reserve banker mates and learning their disclosure (lack of) practices.

    Reply
  8. Nicely worded Dan. I thought Prozac (surely needs to be on Prozac) was a tad off-side.

    Reply
  9. “Oh Now?” Oh No. Ono. O John!
    The FUDsters cheer inflation on…
    And interest fears again we’ll thrash
    Still hoping for our Housing Crash!~ ;)

    Reply
  10. @Prozac: Duh? Of course they advertise THEIR OWN products. It’s obvious, and there’s nothing wrong with it.

    You’ve posted the worst series of comments ever, even worse than Biker Pete.

    You can do better than that. Get some sleep or something.

    Reply
  11. “You’ve posted the worst series of comments ever, even worse than Biker Pete.”

    What, even funnier than your delightful rant about never voting Labor again, Pete? Funnier than your 70% property crash prediction?!

    Alzheimers an issue, Pete?

    Reply
  12. You’re delusional Biker. You probably still think that I am Prozac. Hell, everyone on here who disagrees with you is Prozak.

    Back to la-la land for you. Isn’t it time someone changed your diaper?

    Reply
  13. And everyone who ever fails to disgaree with Biker in every way must be his closet gay bum boy ‘mate’ hey Pete??? Aka “I’m pretty sure he must just have a closet gay relationship with Ned” :

    http://nfbpsh.blogspot.com/2011/01/today-tonight-perth-property-story-30th.html

    Go right royally roger ya self Pedro!

    Reply
  14. Ya low life scum sucking dirtbag.

    Reply
  15. Hey, great serve, Ned.

    Yes, I recall well the daze when Pete reckoned _we_ were the same fella;
    then realising our views diverged on some issues, started his gay cr*p.

    Listing his past delusions I momentarily forgot his key indicator that the property crash was imminent (many years ago); his belief that because realtors were driving last years’ models, Keen’s wonderful prophecies were about to be fulfilled… .

    Interesting he’s rejoined the fold. If he persists with this kind of drivel, it will be fun (re)citing his more immature conclusions… . :D

    Reply
  16. Been doing some research Ned? Good for you!

    It was written a while back, when you and Biker were having another one of your lovey-dovey gang up sessions against another commenter. Still, you’d have to say you two look a bit suspect from an outsiders perspective, no?

    Reply
  17. Been doing some research Ned? Good for you! – Nope; BAD for YOU!!! (As I now KNOW you are shit!)

    “you and Biker were having another one of your lovey-dovey gang up sessions against another commenter” – Given I have NO recollection of it(?), I can ONLY assume YOU didn’t have the balls to buy in?

    Which fits MOST admirably with my statement above.

    Reply
  18. Been doing some research Ned? Good for you! – Nope; BAD for YOU!!! (As I now KNOW you are “poo”!) – DRA censors the more usually used form of the word “poo”!

    “you and Biker were having another one of your lovey-dovey gang up sessions against another commenter” – Given I have NO recollection of it(?), I can ONLY assume YOU didn’t have the balls to buy in?

    Which fits MOST admirably with my statement above. Re you being “poo”! :D

    Reply
  19. You’re funny Ned. You and Biker have been playing tag-team on so many people, for so long.

    You’re a bit too old to have a cry aren’t you?

    Reply
  20. I’m content to let your own words speak for you Pete :

    “I’m pretty sure he (Biker) must just have a closet gay relationship with Ned” :

    http://nfbpsh.blogspot.com/2011/01/today-tonight-perth-property-story-30th.html

    Reply
  21. Biker, I know you’ve gotten into the swing of keeping people’s comments to be used to remind them of them – That’s wise. But not being wise I’ve not done so. Anyway, given that Pete got caught out telling a big fib a couple of years ago (on which I kept no info despite questioning him over same at the time – As did others), do you happen do have info on same?

    Reply
  22. It’s gunna be a huge pain in the arse to go back maybe two and and a half or three years in DRA history to prove Pete’s a dirtbag scum sucking liar – Even though it was pretty obvious at the time. So all help gratefuilly recieved … ???

    Reply
  23. I before E except after C (most usually anyway) … :)

    Reply
  24. Pedro, Pedro where for arst thou? … As a closet gay I desire to rubbest my male member against thy innermost thigh most vigoursly and most often! :D :D :D

    Reply
  25. Pedro, Pedro – Bend you over; In the clover … You are a god damn scream Pete! :) Please reply – I haven’t had this much late nite fun since Fool last “declared victory!” :)

    Reply
  26. Oh Biker, please find me this ‘proof’ you have. Biker just makes up ‘proof’ in his own head, or attributes it to other people. Aren’t I Prozak Ned? You and Biker thought probably more than ten differently people were all just one person with a vendetta against you. Sad old men that you are.

    Incidentally, my post on that other blog was about you, not to you. It was simply a recognition that Biker and yourself are egotistical jokes of people with nothing to offer a website like this.

    If we could collate all posts by yourself and Biker, a good portion of them would be having a dig at someone else, boasting about something or other, or having a conversation between yourselves. Probably two percent of the posts would have been relating to the article in question.

    Ned, you’re not as bad as Biker, but you’ve learned some bad stuff from him. You used to be a reasonable guy, so far as I gathered from your posts. Now you’re just Biker’s ‘mini-me’.

    And lastly, I noticed you got real offended by the gay comment. Way to be insecure old Ned…

    Reply
  27. “Aren’t I Prozak Ned” – Never on any one occasion did I suspect you were Prozak Pete. He’s sick. You are just unsavoury! :D

    Reply
  28. “I noticed you got real offended by the gay comment. Way to be insecure old Ned” – There is no way in hell that comment is gunna cut it from someone who made the comment going forward … Roll over and die Pete!

    Reply
  29. Oh, I wasn’t trying to take my comment back Ned. You just seem very offended… you know, maybe too offended. Do you have something you want to tell us all?

    Reply
  30. Yes, the gay slur continues. It’s to be expected, Ned. This is a very sad individual who bought Keen’s story long ago, to his own ongoing cost.

    While I have some sympathy for the involuntary homeless, Pete is one of those smart alecks who believes if he simply does _nothing_ but wait,
    a highly desirable million-buck home will fall into his lap for $300K.
    It’s as infantile as believing that the fella with the red suit in his chimney has a McMansion in that sack.

    In essence, there’s little difference in his wishing to that of the cargo-cultists of the post-war Pacific islands. What he forgets is that if a planeful of goodies ever showers him with property, it will also dump unemployment and a shipload of other excreta on him as well… . ;)

    Reply
  31. Toured The Pinnacles@Duxton last night, Ned: Seven fifty-storey towers, containing 1838 impressive units, overlooking Singapore in every direction.
    As each (oversubscribed) stage was completed, selling prices escalated quite dramatically, until balloting of the final stage excluded thousands.

    The connectedness of the complex, at 25th and 50th levels, via walkways resembling terraces with treed gardens, has to be experienced to be believed. The top deck(s) include(s) extensive (passive) recreational areas. There were quite a few residents and visitors relaxing at ‘beaches’ or in parks even at 10:00 pm last night, many viewing the fireworks show at
    Sentosa Island.

    While we may be decades from such classy high-rise complexes housing thousands of people, I couldn’t help wonder if the growing obsession with inner-city living might not spur more high-rise accommodation at home.

    Not exactly my cup-of-tea, but urban sprawl in an impending fuel crisis might encourage more apartment construction back in Oz… .

    Reply
  32. Biker: “25th and 50th levels, via walkways resembling terraces with treed gardens, has to be experienced to be believed” – I’ll believe it without experiencing it thanks Biker – I go all wobbly in the knees at those sorts of heights! :)

    Pete: “my post on that other blog was about you, not to you” – With that being a very particular problem Pete. Those with any balls can bring themselves to stab their enemies from the front. But you prefer to do it from a different direction.

    Reply
  33. As to the homo/hetero thing you seem so keen to hypothisise about Pete (and my ‘need” to confess re same :) ):

    * I had a good mate who was a ‘poof’ many years ago. When one of my mate’s younger bros felt to rush up to me one night down the boozer when me ‘poof’ mate and I’d been having a good old chat at a table all on our lonesome and announce : “Ned, He’s a Poof!” my response was “Yep; I know – Ferk Orff!!!”

    * And as to when I introduced my ‘poof’ mate to a hetero mate and after they shook hands the hetero bolted and the poof announced “He doesn’t like homosexuals” and the hetero subsequently informed me “He’s a poof!” I still just shake my head.

    Reply
  34. Ned: “I go all wobbly in the knees at those sorts of heights!”

    I did myself, Ned. While I normally have little fear of heights, I imagined(?) there was a slight tremor through the building(s). No-one else experienced it. Lightning from the south was pretty spectacular, but I didn’t capture it in any of my time exposures… .

    Reply
  35. Dan,

    that add was from your .co.uk version of DR. Was it a subsidiary or separate company?

    It is no different to yours anyhow. All of them promise some sort of easy money. It is WALL STREET who are there to make themselves rich right? Not DR. You cannot trust Wall St is your message. Trust us and buy snake-oil instead.

    Ross – i’ve never mentioned DR advertising before. You are totally incorrect.

    Pete – OK. That’s your opinion. Everyone is entitled to have one.

    Reply
  36. Dan, (or is it “mate”?)

    These are definitely your companies claims right? So definitely no mistake this time from me.

    “You’ll find slipstream trading amazingly simple: we recommend what action to take, tell you when to take it and how. You don’t need to be a genius-level technical analyst to make money with Slipstream Trader. Editor and Chief Technical Analyst Murray Dawes lays out all the information you need in plain English.”

    “Here’s your chance to test-drive the PROVEN Australian trading service that made a cumulative 57% return in 2010 – for the next 90-days –
    completely RISK FREE…”

    “In 2010, Murray recommended 46 trades to his subscribers, of which 80% either made money or broke even. His average win was almost TWICE the size of his average loss.

    Most brokers would kill for that kind of strike rate.

    That means, in 2010, he was on the right side of EIGHT out of every TEN trades.

    Can you imagine being on the right side of 8 out of 10 horse races… or spins of the roulette wheel… or lottery tickets?”

    Yep sure. This is not snake oil.

    Go ahead, prove me wrong. Publish your recomendations, drawdown, execution data and all costs for the past 5 years. Its old news so I am sure this shouldn’t be a problem.

    Reply
  37. Dan recommended retiring because the world was screwed didn’t he?

    Talking about same, is BB’s stock market flag still at quarter mast battered and bullet torn and shell ripped … After the DJIA has come up about 85% – Not criticising … Just asking like?

    Reply
  38. I don’t recall all their opinion Ned.

    What I am sure of is if someone had a sure fire easy way to make the sort of returns snake-oil sellers claim they make, they wouldn’t be in the publishing business.

    Reply
  39. That’s probably a pretty fair comment Prozak! :)

    Reply
  40. Ahh Biker I see you still comment on topics you have little knowledge on?
    The Pinnacles project was a public housing project & the “Ballot” was limited to a strict selection criteria.

    Yes they offered great value because the prices were capped by the Govt. So there was a big demand for them. This would be like Homeswest offering flats in Subiaco at 35-40% discount of going rates.

    One of the criteria was (But not limited to) “The monthly household income ceiling for the purchase of 3-room flats is $3,000 while the monthly income ceiling for Studio Apartments (SAs) and 4-room/5-room/S1/S2 flats is $8,000. In addition, applicants must also satisfy the other eligibility conditions such as citizenship, non-ownership of private property etc.”

    Selling prices never escalated & sales were always restricted to a strict selection criteria. Not anyone could walk in & drive the prices up & when demand exceeded availability a ballot system was introduced.

    Why don’t you just make up stories as you go Pinhead!!

    FYI: resale is restricted they cannot be resold till Dec 2014 (Some exemptions Death etc) If you want to speculate you can register here for a resale apt:
    https://spreadsheets.google.com/viewform?formkey=dFkweEF6Wk55SDBla3dPaWdfbVJOaHc6MQ

    Never let the facts spoil a good Myth hey Biker?

    Good lord now Spruiking Singapore property

    Not Fooled By Property Spruikers Hype
    May 4, 2011
    Reply
  41. Oh Dear our resident “Silver Back” shamed away!

    Come back Biker Pete all you have to do is say you got it wrong?

    Rather sulk in the corner?

    Not Fooled By Property Spruikers Hype
    May 5, 2011
    Reply
  42. Sorry to keep you waiting, staring at your monitor in anticipation, N Fool.
    We were flying home, in fact. I’ve only just seen your Google findings…

    First, I’m trying to find the exact line in my report above in which I’m supposed to have stated this was a private housing estate. Nope, it’s not there. Where did I state that Pinnacles@Duxton was a private housing estate? These units were _sold_ to interested applicants.

    Each new stage escalated in price. Yes, as you’ve stated, interest and demand exceeded supply, much in the same way as demand will soon exceed supply in WA. Our caravan parks will soon be full, as rental shortages
    and waiting lists for homes lengthen.

    As an armchair traveller, you’re short on facts. You have no idea what rents are charged in public housing estates, or how the rental scene really operates. You simply quote the official line. What actually _happens_ is beyond your mouse hand, mate.

    I didn’t just click on a URL for a quick fix of ‘facts’. We spent time with family and friends who actually _know_ how realty and accommodation work in their city. What happens _officially_ and _unofficially_ might surprise you.

    We were surprised ourselves. Rents are much higher, for lesser accommodation. It’s time to play catch-up here in WA.
    Hope you’ve locked in a long lease. :D

    Reply
  43. Bonehead Rents have been going backward in real terms for 20 years?

    Pinhead looking forward to the link where I said $9200?? Now that you are back in front of your Pentium @ it should not take long?

    Rents up $30PW in the past 18 months? & you say $60 PA insurance rise is your only cost rise?

    Fool stick to Biting Your Neck Clown!

    Not Fooled By Property Spruikers Hype
    May 7, 2011
    Reply
  44. What you claimed was $180 pw additional costs, Fool. That’s $9360 pa.
    You based that on your mistaken punt that interest rates would rise this year. Like all your predictions, it hasn’t happened.

    As for rents, according to RPdata, during the last five years, the cost of renting a house in Perth rose on average 8.7 per cent each year compared to the value of houses increasing on average 5.3 per cent each year.
    That’s a 43%+ hike… *

    We just raised the rent on one of our smaller 4X2X2 rentals by the exact figure you cite, $30 pw, in the last _month_. You’re either completely out-of-touch with the current rental situation, or you’re anxious about your lease. I can’t imagine you restrict your bleating to online rants,
    so your tenancy is probably just a little precarious… .

    *And YES… the only additional cost to us this year, so far, has been the insurance increase I stated (less once our tax claim is presented. :) )

    Reply
  45. Bonehead pay attention i will type slowly so you can keep up.

    You claimed I said landlords holding costs would go up $9200 Plus in 2011?

    Now I said I never did say that & challenged you to put up a link showing where I said this? (I know you saye everything I say to play it back to me?)

    When challenged you said wait till I get back to OZ as the link was on your Pentium2 back home?

    So now that you are back put the link up Liar Pete!!

    Not Fooled By Property Spruikers Hype
    May 7, 2011
    Reply
  46. Bonehead Pete this is what you said

    Comment by Biker on 13 April 2011:

    Wrong?! Let’s see, N Fool:

    * Your call: Property crash 20% for 2010
    (OK I said this but anyone listening to me will still be in front? Listening to you they would be behind!! I am right you were wrong) ha

    * Your call: Interest rates 8% in 2011
    (Current rates are around 7.5-7.89% & forecast to have 2 increases by the end of the year ? we are still in 2011 7 months still to go)

    * Your call: Extra $9200pa after-tax in owners’ costs 2011
    (Never said this you lie!! Prove otherwise? Can’t do it can you?)

    When adults get it wrong, they apologise, son.
    Yet to see _you_ say ‘Sorry’ to all the Perth families you misled. ;)

    So Pinhead when you stop Biting your Neck Apologize you got it wrong?

    Not Fooled By Property Spruikers Hype
    May 7, 2011
    Reply
  47. HaHa… . Have you apologised for misleading Perth tenants in regard to rising rents (8.7% rise per year, for the last five years)?

    Have you apologised for wanking on and on and on about owning six properties you’ve since admitted lying about?

    Have you apologised for spruiking a 20% crash in 2010? (Classic stuff… then sending us all a Keen vidclip with Steve claiming the market _rose_ 20%!

    When I find the link, I’ll post it. Meanwhile, you just sit there staring
    at your monitor waiting, son. It’s a good look… . :D

    Reply
  48. Dip$hit stop trying to go off topic.

    You were so confident you had a link???? BZZZ WRONG!!

    Pinhead nothing to say about rates going to 8% in 2011? RBA came out this week softening the market up!!

    Go Back to Biting your Neck CHUMP!

    Not Fooled By Property Spruikers Hype
    May 8, 2011
    Reply
  49. While you’re venting away on your Pentium, we’re picking olives, N Fool.
    Best crop we’ve had in years. Note you dropped Duxton like a hotcake!
    Talk about conveniently changing the subject. ;)

    Finding lots of quotable quotes from your past rants, while locating the $180pw prediction. There are literally tens-of-thousands of your posts across the global blogosphere, Canada included. Should have screenshot your ‘extra $180 pw’ comment… !

    Here’s a classic (7th April 2010), in which you warn prospective homebuyers what’s to come: http://www.watoday.com.au/wa-news/what-housing-shortage-20100406-rowf.html

    East to see how you arrived at your $180 pw figure!~ :D

    And here’s the reference which sinks your illiterate commentary on rents: “Bonehead Rents have been going backward in real terms for 20 years?”

    http://www.oneperth.com.au/2011/04/21/rents-outstrip-capital-gains/

    I’ll find the $180 pw reference, never fear. Meanwhile, try to get out more. You’re high risk for a heart attack in your sedentary obsession:
    day-and-night sitting and extreme bitterness are two predictors of an early demise… ;)

    Reply
  50. Here’s the link, you lying little conman:

    http://www.perthnow.com.au/business/generation-y-make-push-to-save-for-a-home/comments-e6frg2ru-1226009540668

    “…in 2011 they can ALL look forward to extra payments around $9000 PA.”

    Biker Pete
    May 9, 2011
    Reply
  51. Well Pinhead below is what I said in Full. Read it again carefully (Take the beer goggles off)

    I stand by the numbers the statement is accurate.

    Now you type out where you think it is wrong & show your numbers that says I am wrong.

    My statement & numbers do work out take the time to read it CAREFULLY you will get egg on your face if you don’t.

    but so much for your motherhood statements lets see your numbers.

    Not Fooled By Property Spruikers Hype Posted at 8:39 PM February 21, 2011

    Oct 2008 the GFC Hit & the RBA reduced official rates to 3% by Jan 2009. Interest Rates went from 9.5% in Aug 2008 to under 4.75% in Jan 2009 … Banks were offering Fixed 2 year loans @ 5% – 5.5% many New home Buyers (Plus existing home owners) took advantage of this & locked in these rates. Now 2 years have lapsed & all these loans are going to revert to a 7.1% or 7.8% rate. An increase around 50% or around $750 PM on a typical home loan. Now bear in mind most of these FHB could not get a loan because they could not save enough for a deposit whilst renting at half the cost of ownership & the only way the got the deposit together was with a boost to the FHOG & $900 per child handouts x 2 {Remember that GIFT?}Now all these home owners that could not even save for a deposit prior to 2008 have been paying an additional $10K PA in costs for home ownership (Gap between Renting & Buying) & in 2011 they can ALL look forward to extra payments around $9000 PA. ($20K all up)They know they cant do it as the Credit Card is already maxed out paying this years Rates / Water / Ins etc they never could afford housing because they just did not earn enough & now the good times are over!

    Comment 15 of 72

    (Pst Stick to Biting your Neck )

    Not Fooled By Property Spruikers Hype
    May 9, 2011
    Reply
  52. “…in 2011 they can ALL look forward to extra payments around $9000 PA…”

    Caught again, son. You’re a compulsive liar, as PerthNow contributors have reminded you frequently.

    Keep biting your foot. It’s permanently in your mouth.
    At least _one_ part of your anatomy is in control. ;)

    Reply
  53. Prove the statement wrong?

    Show where?

    You cant do it!

    The statement stands unless you can show where it is incorrect!!

    I know you have tried & you cannot do it?

    What is holding you back?

    2+2=4 x 2 = 8 -7=1 x 100 = 100

    Come on show me your workings that proves me wrong?

    Do you know what I think?

    You started to do it & then DOH!! you discovered I was correct!

    What you would expect from a CHUMP who still thinks he is earning interest in a Mortgage offset account?

    Put up or Shut Up Chump!! You can’t do it! Go away Oxygen Thief

    Not Fooled By Property Spruikers Hype
    May 10, 2011
    Reply
  54. Ahhh, the usual angry insults and invective to mask your inadequacy…
    Rant, vent, you lose.

    Reply
  55. Tut Tut Tut

    You are unable to refute what I say with facts & Numbers.
    You claim your costs of holding a property for you only went up $60 pw for insurance only ( No Rate Rises / Agents Fee rises etc etc)

    Either way my statement was not about your holding costs but about FHB.

    I say their costs have gone up since they took advantage of the FHBG & left the Rental markets.

    You challenged what I said. I say what I said is accurate.

    Now it is up to you to show what is inaccurate & why?

    It should be very very simple.

    Come on it is all about showing me up ?

    Go ahead show me up show how I am wrong?

    Do it & you have a little win that you can point to on Perth Now?

    Not Fooled By Property Spruikers Hype
    May 10, 2011
    Reply
  56. Let me make it easy for you. Lets break my ststement into little chunks?

    Oct 2008 the GFC Hit & the RBA reduced official rates to 3% by Jan 2009. { Accurate Statement? Yes}

    Interest Rates went from 9.5% in Aug 2008 to under 4.75% in Jan 2009 … Banks were offering Fixed 2 year loans @ 5% – 5.5% { Accurate Statement? Yes}

    many New home Buyers (Plus existing home owners) took advantage of this & locked in these rates. { Accurate Statement? Yes}

    Now 2 years have lapsed & all these loans are going to revert to a 7.1% or 7.8% rate. { Accurate Statement? Yes}

    An increase around 50% or around $750 PM on a typical home loan. { Accurate Statement? Yes}

    Now bear in mind most of these FHB could not get a loan because they could not save enough for a deposit whilst renting at half the cost of ownership & the only way the got the deposit together was with a boost to the FHOG & $900 per child handouts x 2 {Remember that GIFT?}{ Accurate Statement? Yes}

    Now all these home owners that could not even save for a deposit prior to 2008 have been paying an additional $10K PA in costs for home ownership (Gap between Renting & Buying){ Accurate Statement? Yes}

    & in 2011 they can ALL look forward to extra payments around $9000 PA. ($20K all up) { Accurate Statement? Yes}

    They know they cant do it as the Credit Card is already maxed out paying this years Rates / Water / Ins etc they never could afford housing because they just did not earn enough & now the good times are over! { Accurate Statement? Yes}

    Pick any part above & show how it is not correct or a true statement?

    No rhetoric thanks facts / reasons {Verifiable} / your alternative numbers

    Not Fooled By Property Spruikers Hype
    May 10, 2011
    Reply
  57. N Fool: “”…in 2011 they can ALL look forward to extra payments around $9000 PA…”

    You based your prediction on a belief that interest rates would continue to rise in 2011.

    You stated you _hadn’t_ predicted this increase in owners’ costs.

    You repeatedly denied having said it, on numerous threads.

    You believed that in the ten thousands of posts you make, I wouldn’t be able to (re)locate it. While we were in Singapore you taunted me repeatedly
    about it, sure that you’d get away with this next new lie.

    Rest assured that as the next decade unfolds, more of your silly lies and foolish predictions will unfold. You may blog in countless aliases, but you’re ego-padlocked to a silly little website, so you’ll be around as Not Foold or Not Fooled for a while yet… . ;)

    Biker Pete
    May 10, 2011
    Reply
  58. Again you are avoiding showing a error in the statement WHY?

    Let me make it easy for you. Lets break my ststement into little chunks?

    Oct 2008 the GFC Hit & the RBA reduced official rates to 3% by Jan 2009. { Accurate Statement? Yes}

    Interest Rates went from 9.5% in Aug 2008 to under 4.75% in Jan 2009 … Banks were offering Fixed 2 year loans @ 5% – 5.5% { Accurate Statement? Yes}

    many New home Buyers (Plus existing home owners) took advantage of this & locked in these rates. { Accurate Statement? Yes}

    Now 2 years have lapsed & all these loans are going to revert to a 7.1% or 7.8% rate. { Accurate Statement? Yes}

    An increase around 50% or around $750 PM on a typical home loan. { Accurate Statement? Yes}

    Now bear in mind most of these FHB could not get a loan because they could not save enough for a deposit whilst renting at half the cost of ownership & the only way the got the deposit together was with a boost to the FHOG & $900 per child handouts x 2 {Remember that GIFT?}{ Accurate Statement? Yes}

    Now all these home owners that could not even save for a deposit prior to 2008 have been paying an additional $10K PA in costs for home ownership (Gap between Renting & Buying){ Accurate Statement? Yes}

    & in 2011 they can ALL look forward to extra payments around $9000 PA. ($20K all up) { Accurate Statement? Yes}

    They know they cant do it as the Credit Card is already maxed out paying this years Rates / Water / Ins etc they never could afford housing because they just did not earn enough & now the good times are over! { Accurate Statement? Yes}

    Pick any part above & show how it is not correct or a true statement?

    No rhetoric thanks facts / reasons {Verifiable} / your alternative numbers

    You can’t do it CHUMP or you would have broken it down bit by bit?

    Not Fooled By Property Spruikers Hype
    May 10, 2011
    Reply
  59. Oh Dear Biker Pete is sulking he is unable to refute a single item?

    Such a Big mouth with Nuffin to say?

    Not Fooled By Property Spruikers Hype
    May 10, 2011
    Reply
  60. You’ll keep suffering these embarrassments, N Fool.

    You’ll be shown:

    * to have repeatedly lied;

    * to have made foolish, incorrect predictions.

    You’re not worth my time, son; but _every_ time you lie, or call it wrong,
    I’ll take the time to call you on it.

    Count on it!~ :D

    Reply
  61. Biker Pete.

    Look at my comment / statement that holding costs have gone up $180 pw.

    It stands there unchallenged by you.

    If you could you would refute it your silence is acknowledgement that is is factually correct.

    “Call it Wrong” come on do it !!

    What no facts or numbers to put up just Rhetoric & Motherhood Statements?

    Go back to Biting your Neck old timer.

    Not Fooled By Property Spruikers Hype
    May 11, 2011
    Reply
  62. Jeez, you s-t-i-l-l here playing with yourself?

    * You said you didn’t say it;

    * I proved you said it.

    Game over. You lost. Keep playing with yourself… . :D

    Reply
  63. But But but Biker take the chance to strike a killer blow & show that I am wrong about costs going up?

    Why are not able to do this CHUMP!

    Not Fooled By Property Spruikers Hype
    May 12, 2011
    Reply

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