The Lucky Country soap box

[Sintiger]

You say you don't mistakenly think cpi = inflation, yet you say "inflation over the period averaged 1.5%".

The cpi in Australia increased almost 50% from 1990-2007. We have had reductions in interest rates, because the RBA has forced it lower than the market rate. The current housing bubble has been going on since 1996, so it easily falls within the time frame that the RBA started printing money. Between 1996-2010 housing prices increased 127%, the largest increase in Australian history.

The most obvious result of inflation should be apparent, i.e. the GFC. Many Americans could only pretend they could afford a house given the extremely low interest rates banks were charging. Again interest rates in the states have been forcibly lowered below the market rate, housing prices have tanked because of the bust caused by inflation, and the cpi averaged 1.5% (not inflation). Like I said inflation won't necessarily influence all prices uniformly. All that printed money did was allow Americans to keep consuming at a similar rate they were consuming prior to the GFC. When that money dries up, all their going to be left with is some TVs, some clothes, abandoned houses and a huge debt burden they can't afford. The US is bankrupt.

I am unaware of Ron Paul ever saying the US is headed for Zimbabwe style inflation?

As i said, I am not going to get into an economics discussion on this thread as it is off topic.

You do selectively edit. I said that CPI over the 3 year tripling of the US monetary base was 1.5% p.a but I also said that interest rates reduced and that housing prices tanked.

The quote on Zimbabwean style inflation was made by Peter Schiff who is an economics adviser to Ron Paul. He made the comments on Glen Beck's TV or radio show and they were quoted in the New York Times.

 

[Massive Tiger]

No you could walk through the CBD at night without getting mugged, bashed, accosted, robbed or stabbed in 96.

Craig I live in an inner suburb and it's a fantastic place to live. i spend a lot of time in the city, usually at night time but also during the day and it's a vibrant, happy place. I think that if you place yourself at risk....ie. like going to buy drugs, or getting really drunk and staggering around early in the morning, then you would be putting yourself in harms way, but other than that the city is a great, safe and exciting place to be.

 

[Giardiasis]

As i said, I am not going to get into an economics discussion on this thread as it is off topic.

You do selectively edit. I said that CPI over the 3 year tripling of the US monetary base was 1.5% p.a but I also said that interest rates reduced and that housing prices tanked.

The quote on Zimbabwean style inflation was made by Peter Schiff who is an economics adviser to Ron Paul. He made the comments on Glen Beck's TV or radio show and they were quoted in the New York Times.

I'm being pedantic about this because it is very important to understand exactly what inflation is, and what it is not.

Yes, house prices have tanked, and yes the CPI has not been excessively high. The prices of stock however have risen substantially since the bust (they are pretty close to what they were before the bust). I'll repeat inflation won't necessarily influence all prices uniformly.

Peter Schiff also accurately predicted the GFC while all the mainstream economists laughed at him.

 

[Sintiger]

I'm being pedantic about this because it is very important to understand exactly what inflation is, and what it is not.

Yes, house prices have tanked, and yes the CPI has not been excessively high. The prices of stock however have risen substantially since the bust (they are pretty close to what they were before the bust). I'll repeat inflation won't necessarily influence all prices uniformly.

Peter Schiff also accurately predicted the GFC while all the mainstream economists laughed at him.

Of course inflation doesn't influence all prices uniformly but you seem to be suggesting that the CPI has almost no role as one of the indicators of inflation. That is clearly wrong. The CPI is not inflation but it is one of the indicators of inflation.
Whatever Peter Schiff's credentials are in predicting the GFC his comment re Zimbabwean style inflation were clearly wrong. He certainly was one of the economists outside the mainstream at the time and credit to him for predicting what he did, but also not all his predictions came true. Most notably was his prediction of massive decline in the value of the US$. There has been some decline since that time but in TWI terms it's not very dramatic.
My point is that your statement that price increases in the Lucky country are simply a result of the RBA printing money is not correct. It's one factor but it's far too simplistic because there are so many other factors at play as well.

 

[Giardiasis]

Of course inflation doesn't influence all prices uniformly but you seem to be suggesting that the CPI has almost no role as one of the indicators of inflation. That is clearly wrong. The CPI is not inflation but it is one of the indicators of inflation.
Whatever Peter Schiff's credentials are in predicting the GFC his comment re Zimbabwean style inflation were clearly wrong. He certainly was one of the economists outside the mainstream at the time and credit to him for predicting what he did, but also not all his predictions came true. Most notably was his prediction of massive decline in the value of the US$. There has been some decline since that time but in TWI terms it's not very dramatic.
My point is that your statement that price increases in the Lucky country are simply a result of the RBA printing money is not correct. It's one factor but it's far too simplistic because there are so many other factors at play as well.

I'm not suggesting that, like I said CPI increased almost 50% between 1990-2007. It seems you understand what inflation is now.

I'd wait and see with Peter Schiff's predictions regarding the value of the $US. Regardless you can't argue that the purchasing power of the USD and AUD has dropped significantly over the past 50 years.

Sure inflation isn't the only factor, but it is by far the biggest factor.

 

[martyshire]

Craig I live in an inner suburb and it's a fantastic place to live. i spend a lot of time in the city, usually at night time but also during the day and it's a vibrant, happy place. I think that if you place yourself at risk....ie. like going to buy drugs, or getting really drunk and staggering around early in the morning, then you would be putting yourself in harms way, but other than that the city is a great, safe and exciting place to be.

Inner suburbs are not the problem. It's the CBD on Saturday nights. There's a growing culture of young punks heading in there by default on a Saturday night looking for trouble. Maybe that's because there is nothing to do in so many of the new fringe areas of Melbourne.

 

[Sintiger]

It seems you understand what inflation is now.

I have the seal of approval from the great Giardiasis. How priviledged am I?

You are so condescending at times.

I have a good laugh at that sort of comment to be honest.

 

[Giardiasis]

I have the seal of approval from the great Giardiasis. How priviledged am I?

You are so condescending at times.

I have a good laugh at that sort of comment to be honest.

Boo hoo. I'm sorry but inflationists *smile* me off.

 

[Sintiger]

Boo hoo. I'm sorry but inflationists p!ss me off.

Another label.
So predictable.

 

[HeadandShin]

- I am often expected to pay online booking fees for sports tickets when I used to be able to just show up at the ground early

Booking fees (online or other) are my pet peeve. I go to a lot of arts events, and they are rampant. You'll see an event advertised (eg a visiting violinist, ballet troupe, etc), and book a ticket - then have another $7 added for the privilege of buying the ticket. In the past, they were charged only by Ticketek/Ticketmaster. The theatre etc had outsourced ticket-selling to them, and that was their cut - annoying but understandable. You could still buy direct (over the counter) from the theatre, without the fee. Now, the theatre itself also charges it; even where you do the booking yourself - choose your seat, fill out your details, pay, print out the ticket. What is the rationale? I recently bought a ticket for my niece to come with me to the ballet (I already had a ticket). The booking fee added 20% to the cost (making it more than the cost of my own). I don't mind it if I'm booking for a group of friends, but one child's ticket... Anyway, end of rant - Agree with Rosy's OP.

Oddly enough, think I bought my recent NAB Cup tix from Ticketek over the net without a booking fee, IIRC.

 

[KnightersRevenge]

Booking fees (online or other) are my pet peeve. I go to a lot of arts events, and they are rampant. You'll see an event advertised (eg a visiting violinist, ballet troupe, etc), and book a ticket - then have another $7 added for the privilege of buying the ticket. In the past, they were charged only by Ticketek/Ticketmaster. The theatre etc had outsourced ticket-selling to them, and that was their cut - annoying but understandable. You could still buy direct (over the counter) from the theatre, without the fee. Now, the theatre itself also charges it; even where you do the booking yourself - choose your seat, fill out your details, pay, print out the ticket. What is the rationale? I recently bought a ticket for my niece to come with me to the ballet (I already had a ticket). The booking fee added 20% to the cost (making it more than the cost of my own). I don't mind it if I'm booking for a group of friends, but one child's ticket... Anyway, end of rant - Agree with Rosy's OP.

Oddly enough, think I bought my recent NAB Cup tix from Ticketek over the net without a booking fee, IIRC.

Same thing with "do it yourself" check-outs. I refuse to use them on two counts. One - I am doing the job of the checkout so I should get a discount. Two - I am doing a 15yr-old out of a job.

 

[glantone]

Same thing with "do it yourself" check-outs. I refuse to use them on two counts. One - I am doing the job of the checkout so I should get a discount. Two - I am doing a 15yr-old out of a job.

… I used to think that way with atms until I discovered they don’t enquire how you are or wish you a great day.

However, I do refuse to service my own table after eating at places like McDonalds and KFC– infact I think we should bring as much outside garbage into those places as possible – job creation.

 

[TigerForce]

Rosella....GONE!

 

[U2Tigers]

Rosella....GONE!

For a minute I got my hopes up, until I saw the news story.

 

[tigergollywog]

Same thing with "do it yourself" check-outs. I refuse to use them on two counts. One - I am doing the job of the checkout so I should get a discount. Two - I am doing a 15yr-old out of a job.

X2.

… I used to think that way with atms until I discovered they don’t enquire how you are or wish you a great day.

However, I do refuse to service my own table after eating at places like McDonalds and KFC– infact I think we should bring as much outside garbage into those places as possible – job creation.

:hihi

I dont mind service people telling me to have a NICE day, but when they wish me a FANTASTIC day, I just have to undercut the unrealism. I reply "thanks, but an OK one will do me"

 

[tigergollywog]

While Im on the soap box, Ive got a funny story to share.

Ive been pretty broke lately and at the end of every fortnight, overdrawing my account by $50-$100 and instantly fielding a barrage of calls from Bangladesh about my overdrawn account and when it will go back in black (which it does in 48 hours with monotonous regularity).

This fortnight, my bro tigersnake generously stuck $500 in my account to help out. 48 hours later, it wasnt there and my account was overdrawn and I got the inevidable call from the Bangladeshy.

STG B "hello mr gooly wog, I am calling from St George Bank"
TGW "Oh hello, Im so glad you rang, you are overdrawn $450, when will you be reconciling this debt?"
STG B " excuse me sir?"
TGW "well my bro put $500 in my account 2 days ago, and I havnt seen a cent of it. While you mob buy pork bellys on the futures derivatives thingo with MY dough, ive got my misses on the war path because she ran out of petrol and we had Aldi weet bix for tea. How soon can StG reconcile this debt Mr ..... ?"
STG B "LONG PAUSE .................Thank-you sir, hang up"

 

[jackp]

It's the small things that make us great. Community level initiatives make me proud. Like the short courses offered at the local community house to improve literacy or grow vegetables. The mix of cultures in the supermarkets and at the library. Little African kids interpreting for their parents at the health clinic. Go out to Sunshine on a Sunday morning and smell the yum cha cooking and see all the different people socialising.

 

[glantone]

I dont mind service people telling me to have a NICE day, but when they wish me a FANTASTIC day, I just have to undercut the unrealism. I reply "thanks, but an OK one will do me"

….have given into the mindlessness of ‘have a nice day’ mainly because it’s preferable to the only alternative I could come up with - ‘we should drop the bomb and end it all’ .

Best is when for whatever reason your goat has been got and you vent, and you vent - a crime scene of bile - and after all that through sheer force of habit ‘have a nice day’ slips out as you turn to stomp off.