The Crisis of Credit

Therrin · 18th April 2009, 09:21 AM

Here's a High Def video clip, explaining the current financial situation via easily understandable diagrams and vocals.

I found it thoroughly entertaining actually, thought some of you others might as well. It'd be a good video to show your kids so that they can understand the way things work in the financial sector.

The Crisis of Credit Visualized on Vimeo

Ekka · 18th April 2009, 04:38 PM

Well explained, and where did this risky process take part predominantly?

Therrin · 18th April 2009, 05:43 PM

Uh....supposedly in the greatest country in the world.

It wouldnt happen in Australia, cuz thar be dragons, and dragons are busy eating people, so no-one can build good credit.

Ekka · 18th April 2009, 09:14 PM

Nope, thar be regulations and no NINJA's

Therrin · 19th April 2009, 07:40 PM

Whatcha mean by THAT??

If Treeworld had credit I'd have a good rating.

The problem with america is the bastards running these financial institutions, their business ethics, and the governments willingness to bail them out of their poor business choices.

Ekka · 19th April 2009, 08:07 PM

Therrin,

The USA's credit policy is spend more today than yesterday and who cares about paying it back. They haven't balanced a budget for years and the continual extension of debt to even the biggest no hopers, interest free purchases of domestic goods over 5 years etc eventually has to end.

I'm also told of the "hand in the keys" scenario. That cant happen here, and doesn't.

You default then the bank sells you up, for mortgages of over 85% the value of the purchase (less than 15% deposit) there must be mortgage insurance, that is insurance that an insurance company pays to the bank for any loss between the outstanding mortgage and the houses sale price. Then they're also entitled to garnish wages or bankrupt you, it's the full course of credit default options they have available to protect themselves from losses.

Mortgages cannot exceed certain income percentages, people have to be earning a regular income (12months or more). These are all regulations that placed our banking system well, the risks the banks copped here wasn't from our own market but buying junk loans.

In the USA they hand the keys over to the bank. And like the video showed why would you bother paying say a $275K mortgage on a property that you bought for $275K when the value has just dropped to $150K ... you hand the keys in and walk away. The rental market would be flooded with houses I assume, just rent one, perhaps cheaper. I heard of loans where non working useless wankers were getting into houses and no repayments for 2 years ... what does any credit guy know? That when the time comes to pay they walk, like squatters they conned the big guys and got a free house for a few years.

I wont hesitate in saying the USA crunched the globe on this, they're financial management and lack of corporation regulation, human greed and frivolous attitude to debt cost the globe.

Always remember, every party has it's hang over. Now there's a global credit crunch ... simply no money around. Banks have become pesimistic and conservative, ventures aren't being funded, loans aren't being granted. Like a Volvo truck dealer here said, "people still need trucks but they cant get a loan for it, so we have to put off half our staff".

The demand for housing was artificial, it's like when they advertise 2 for 1 pizzas etc, you get a boom in pizza sales. They got a boom in house sales, then the market got flooded with people handing keys in ... like when the stock market booms along then all of a sudden a bull market turns to a bear market, it's all driven by supply/demand and attitude. Attitude being, what is the near future ... positive or negative.

People are people, generally get as much as they can for as little as they can, without regulating this sort of crap the old saying "hand a man rope and watch him hang himself" pertains true to most easy credit scenarios.

If I come across as arrogant it's because the writing was on the wall for years, but the shit government you guys have wouldn't know if their ass was on fire followed by media and corporations running rampant and unchecked. Then when people like me pop up we're quickly labelled socialist or commo's to suit the political agenda.

Who would think that having wars, a huge deficit in trading and budget deficit plus an unchecked domestic credit policy would lead to long term sustainable economic improvement? Only an idiot, and sadly most are.

Therrin · 19th April 2009, 08:25 PM

I disagree insomuch as that I think there are alot of very capable, very decent and very intelligent people in this country.

The problem is when the indecent ones find positions of power in finance and government, and when they allow the other fools to be reckless without restraint.

It's really a poor picture being painted for all the good people in this country, and its sad, because it doesnt take 3/4 or more of the country being fools for this to occur, it only takes a smaller percentage, but it has a HUGE impact.

There ARE bad apples, but I think its to a far lesser extent than you're making it out to be.

I know you dont care much for the USA, but this is MY country, and I love my country, so I make no regrets about defending it when I feel that youre slamming EVERYONE in this country as a whole for the actions of a select group of them.

Ekka · 19th April 2009, 08:47 PM

I agree, I wrote else where recently that it seems the intelligent shut up coz they get badgered by the dumb asses.

Therrin, hopefully some decent people get control of that place and straighten it out. Governments are there to govern, make rules ... boundaries for business to operate in. There's nothing socialist about that.

And trying to appease every faction and race is near impossible, sometimes the preferred solutions aren't popular and that's when real leaders shine!

Therrin · 19th April 2009, 08:51 PM

+1!! Now you're talkin. Without getting my hackles up too!

I'd love to keep posting on this topic, but from my p.o.v. it'd turn very political, and I'm not quite ready to make such blanket statements because they arent really propper for the forum or relations to my personal business.

newguy18 · 20th April 2009, 12:38 AM

i'll keep my opinions of our government/wall street to myself,i will say that i don't have credit,don't need it in my eyes,no matter where i go i can always pick up a vehicle for about 500 bucks and fix it up,i can always rent a house and i'm skilled in more than one trade so i can almost always find work.If can't pay cash or use my bank card i won't buy it.

spartek · 20th April 2009, 12:56 AM

You mean , in Australia they don't borrow billions of dollars off the Chinese and pass it out to everyone. And all you're folks on welfare aint as fat as sows. You Ausies should look out, cause us yankees got a new card, Its called BARACK OBAMA.

He's gonna fix ALL of our problems and probably yours too. No matter what country you're from,,, keep working,,,millions on welfare are depending on you.

funarty · 20th April 2009, 02:43 AM

I say you don't have the money for it you can't buy it! Glad I don't have any depts!

clementine · 20th April 2009, 11:49 AM

Quote:

Originally Posted by funarty

I say you don't have the money for it you can't buy it! Glad I don't have any depts!

I say you are right girl and
it's debts not depts!

Anyway, I got nearly £7000 in debt on my credit card long time ago.
Got rid of it and paid it off, took a few years but it was worth it.

Don't never borrow more than you need or can afford!

Therrin · 20th April 2009, 11:54 AM

How about when buying a house?

(we all know that Bill doesnt ever plan on buying a house, so this question doesn't apply to him, seeing as how he doesn't, and will never need credit)

Or buying a car or even a bucket truck?

Some of use actually LIKE driving vehicles that aren't 35 years old and breakin every other week.

I guess we just have higher standards of living when we see what we can have, using credit wisely and not running amok with it.

clementine · 20th April 2009, 12:12 PM

Credit is what it is, no cash! Why put yourself out there if you can't pay???

funarty · 20th April 2009, 12:23 PM

it's debts not depts!
I call it in the depths!!! (depts)

newguy18 · 20th April 2009, 12:42 PM

Quote:

Originally Posted by Therrin

How about when buying a house?

(we all know that Bill doesnt ever plan on buying a house, so this question doesn't apply to him, seeing as how he doesn't, and will never need credit)

Or buying a car or even a bucket truck?

Some of use actually LIKE driving vehicles that aren't 35 years old and breakin every other week.

I guess we just have higher standards of living when we see what we can have, using credit wisely and not running amok with it.

Mine is a 94,doesn't break down every other week,it hasn't broke for 2 1/2 months,the one ton has its problems but i don't drive it anymore.If i can't pay cash for something i just won't have it.

funarty · 20th April 2009, 12:44 PM

mines an '87 and it's the best!

Therrin · 20th April 2009, 01:43 PM

You could probably live here without credit NG, like a mansion yes?

Credit free living at its finest!

newguy18 · 20th April 2009, 01:48 PM

Ekka · 20th April 2009, 05:48 PM

Here's the wisest piece of financial information I have ever heard.

You borrow money for assets that ....

1/ Appreciate

2/ Generate profit greater than their depreciation/running costs. (Be smart here, a chipper for example can convert $1000's of tipping fees to profitable mulch, however is the running costs/maint etc plus repayment/depreciation going to put you infront? Do the math, sometimes people lose too)

Companies have for years leased vehicles, some buy then depreciate and sell at 2 years/50,000Kms etc, the accountants have the numbers but machinery is different, it generates income unlike some fat ass executive taking his lard to the office in his corporate SAAB!

What has really happened to house prices in your neighbourhood over the last 5 years annually? Lets see people.

I live in Springwood, 5 years ago the ave house was maybe $300K, just before the credit squeeze it might have peaked at $420K and now dragged back to $375K. The irony is 10 years ago they were $150K.

The under 400K market is still strong here but the 500K+ market is soft. Anyway, houses are dear and it's hard to buy one! A shitbox in Brisbane is now $300K, 1 bedroom units $200K!

Therrin · 20th April 2009, 06:15 PM

The person without credit....

Has none =)

funarty · 20th April 2009, 10:23 PM

NOT necessarily!

Bruce Hopf · 21st April 2009, 04:35 AM

Quote:

Originally Posted by Ekka

Therrin,

The UK's credit policy is spend more today than yesterday and who cares about paying it back. They haven't balanced a budget for years and the continual extension of debt to even the biggest no hopers, interest free purchases of domestic goods over 5 years etc eventually has to end.

I'm also told of the "hand in the keys" scenario. That cant happen here, and doesn't.

You default then the bank sells you up, for mortgages of over 85% the value of the purchase (less than 15% deposit) there must be mortgage insurance, that is insurance that an insurance company pays to the bank for any loss between the outstanding mortgage and the houses sale price. Then they're also entitled to garnish wages or bankrupt you, it's the full course of credit default options they have available to protect themselves from losses.

Mortgages cannot exceed certain income percentages, people have to be earning a regular income (12months or more). These are all regulations that placed our banking system well, the risks the banks copped here wasn't from our own market but buying junk loans.

In the USA they hand the keys over to the bank. And like the video showed why would you bother paying say a $275K mortgage on a property that you bought for $275K when the value has just dropped to $150K ... you hand the keys in and walk away. The rental market would be flooded with houses I assume, just rent one, perhaps cheaper. I heard of loans where non working useless wankers were getting into houses and no repayments for 2 years ... what does any credit guy know? That when the time comes to pay they walk, like squatters they conned the big guys and got a free house for a few years.

I wont hesitate in saying the USA crunched the globe on this, they're financial management and lack of corporation regulation, human greed and frivolous attitude to debt cost the globe.

Always remember, every party has it's hang over. Now there's a global credit crunch ... simply no money around. Banks have become pessimistic and conservative, ventures aren't being funded, loans aren't being granted. Like a Volvo truck dealer here said, "people still need trucks but they cant get a loan for it, so we have to put off half our staff".

The demand for housing was artificial, it's like when they advertise 2 for 1 pizzas etc, you get a boom in pizza sales. They got a boom in house sales, then the market got flooded with people handing keys in ... like when the stock market booms along then all of a sudden a bull market turns to a bear market, it's all driven by supply/demand and attitude. Attitude being, what is the near future ... positive or negative.

People are people, generally get as much as they can for as little as they can, without regulating this sort of crap the old saying "hand a man rope and watch him hang himself" pertains true to most easy credit scenarios.

If I come across as arrogant it's because the writing was on the wall for years, but the shit government you guys have wouldn't know if their ass was on fire followed by media and corporations running rampant and unchecked. Then when people like me pop up we're quickly labelled socialist or commo's to suit the political agenda.

Who would think that having wars, a huge deficit in trading and budget deficit plus an unchecked domestic credit policy would lead to long term sustainable economic improvement? Only an idiot, and sadly most are.

I have to Agree with this. I can remember my Father saying 30 to 35 Years ago the very same thing up here in Canada. We have lost a lot of Business due to Wages, to the USA, or Mexico.
Dad said back then, that Canada has Out Priced themselves, in the Wage Department, along with Benefit Packages on top of the Wages, has forced a lot of Industries to Close up and move out of the Country, where Wages are a lot Cheaper.
Up here the Cost of Living is Extremely High. Places are closing up around Canada, that were in Business for a long time, and Buildings are left Vacant for Years.
Just what I have seen, and learned from Dad. Bruce.

Ekka · 21st April 2009, 06:22 PM

As business relocates to cheaper labour countries slowly those countries living standards increase and so do the peoples expectations and income.

They say India has the world's largest middle class, some 300 million people out of a 1.2 billion population mind you.

Some of those "tiger" countries have now evolved economically that they aint so cheap any more, so businesses continually exploit global economies looking for cheaper places to manufacture. Now not all of this is fair because govts do get involved and China doesn't play fair either.

The thing I notice is that when a manufacturer like say Blundstone boots leaves Australia and goes to China ... we end up buying the boot for the same price and it's lesser quality! The savings is not passed on, it's taken as profit and in most cases the quality falls. When a market has been accustomed to paying a certain price for a product then that price will stay however when the business wants to enter a new market it does so at a lower price to gain market share. So in many cases when a business departs a decent country to make goods elsewhere, those goods become cheaper only for new markets not where they left.

Have a look at China's record, toxic clothes, toxins in milk, toxic toys, tread separation and tyre recalls ... they dont give a crap about "white round eyed people"! And the bastid corporations not far behind them!!

Bruce Hopf · 22nd April 2009, 01:48 AM

I have to Agree with you, about China. Still the rest of the World can't compete with Countries like China for labour. Heck not even the Farmers around the World can Compete. The biggest farm that a Farmer in China has is One Acre, and they do everything by Hand for Threshing their Grains, and Ox, to pull their Implements, for Tilling their Land. Bruce.

treejames64 · 13th June 2009, 10:58 AM

I know that I'm buried in a large condo job that is probably going to last a couple of months. I've got to use plastic to pay expenses. What bothers me the most is why a small group of people can just print up the money and loan it to governments when they have absolutly nothing to back it up with. Where did they get off with taking all our gold and giving us paper back?......Somewhere along the way we can no longer get the gold and silver which backed our doller back. Just more and more paper.....

18th April 2009, 09:21 AM	#1
Therrin Tree World Ninja Monkey Join Date: Oct 2007 Location: Bakersfield, Ca Posts: 2,554	The Crisis of Credit Here's a High Def video clip, explaining the current financial situation via easily understandable diagrams and vocals. I found it thoroughly entertaining actually, thought some of you others might as well. It'd be a good video to show your kids so that they can understand the way things work in the financial sector. The Crisis of Credit Visualized on Vimeo

18th April 2009, 04:38 PM	#2
Ekka Admin - Dip Arb & Hort & Seldom Wrong Join Date: Jan 2007 Location: Brisbane Posts: 9,789	Re: The Crisis of Credit Well explained, and where did this risky process take part predominantly? __________________ TAS Training & Assessment Services\| Arb and Hort Training available here Free Online Tree Value Calculator by TreeWorld Free Online TPZ and SRZ AS4970-2009 Calculator by TreeWorld Free Online Tree Surface Area and Tree Volume Calculator by TreeWorld Free Tree and Green Industry Deep Link Directory ... Yes, I also SEO (Optimize) and build websites that fly high in Google Qualified Brisbane Tree Lopping \| Stump Grinding Brisbane Brisbane - Gold Coast Consulting Arborist, Tree and Arborist Reports \| Project Arborist

18th April 2009, 05:43 PM	#3
Therrin Tree World Ninja Monkey Join Date: Oct 2007 Location: Bakersfield, Ca Posts: 2,554	Re: The Crisis of Credit Uh....supposedly in the greatest country in the world. It wouldnt happen in Australia, cuz thar be dragons, and dragons are busy eating people, so no-one can build good credit.

18th April 2009, 09:14 PM	#4
Ekka Admin - Dip Arb & Hort & Seldom Wrong Join Date: Jan 2007 Location: Brisbane Posts: 9,789	Re: The Crisis of Credit Nope, thar be regulations and no NINJA's __________________ TAS Training & Assessment Services\| Arb and Hort Training available here Free Online Tree Value Calculator by TreeWorld Free Online TPZ and SRZ AS4970-2009 Calculator by TreeWorld Free Online Tree Surface Area and Tree Volume Calculator by TreeWorld Free Tree and Green Industry Deep Link Directory ... Yes, I also SEO (Optimize) and build websites that fly high in Google Qualified Brisbane Tree Lopping \| Stump Grinding Brisbane Brisbane - Gold Coast Consulting Arborist, Tree and Arborist Reports \| Project Arborist

19th April 2009, 07:40 PM	#5
Therrin Tree World Ninja Monkey Join Date: Oct 2007 Location: Bakersfield, Ca Posts: 2,554	Re: The Crisis of Credit Whatcha mean by THAT?? If Treeworld had credit I'd have a good rating. The problem with america is the bastards running these financial institutions, their business ethics, and the governments willingness to bail them out of their poor business choices.

19th April 2009, 08:07 PM	#6
Ekka Admin - Dip Arb & Hort & Seldom Wrong Join Date: Jan 2007 Location: Brisbane Posts: 9,789	Re: The Crisis of Credit Therrin, The USA's credit policy is spend more today than yesterday and who cares about paying it back. They haven't balanced a budget for years and the continual extension of debt to even the biggest no hopers, interest free purchases of domestic goods over 5 years etc eventually has to end. I'm also told of the "hand in the keys" scenario. That cant happen here, and doesn't. You default then the bank sells you up, for mortgages of over 85% the value of the purchase (less than 15% deposit) there must be mortgage insurance, that is insurance that an insurance company pays to the bank for any loss between the outstanding mortgage and the houses sale price. Then they're also entitled to garnish wages or bankrupt you, it's the full course of credit default options they have available to protect themselves from losses. Mortgages cannot exceed certain income percentages, people have to be earning a regular income (12months or more). These are all regulations that placed our banking system well, the risks the banks copped here wasn't from our own market but buying junk loans. In the USA they hand the keys over to the bank. And like the video showed why would you bother paying say a $275K mortgage on a property that you bought for $275K when the value has just dropped to $150K ... you hand the keys in and walk away. The rental market would be flooded with houses I assume, just rent one, perhaps cheaper. I heard of loans where non working useless wankers were getting into houses and no repayments for 2 years ... what does any credit guy know? That when the time comes to pay they walk, like squatters they conned the big guys and got a free house for a few years. I wont hesitate in saying the USA crunched the globe on this, they're financial management and lack of corporation regulation, human greed and frivolous attitude to debt cost the globe. Always remember, every party has it's hang over. Now there's a global credit crunch ... simply no money around. Banks have become pesimistic and conservative, ventures aren't being funded, loans aren't being granted. Like a Volvo truck dealer here said, "people still need trucks but they cant get a loan for it, so we have to put off half our staff". The demand for housing was artificial, it's like when they advertise 2 for 1 pizzas etc, you get a boom in pizza sales. They got a boom in house sales, then the market got flooded with people handing keys in ... like when the stock market booms along then all of a sudden a bull market turns to a bear market, it's all driven by supply/demand and attitude. Attitude being, what is the near future ... positive or negative. People are people, generally get as much as they can for as little as they can, without regulating this sort of crap the old saying "hand a man rope and watch him hang himself" pertains true to most easy credit scenarios. If I come across as arrogant it's because the writing was on the wall for years, but the shit government you guys have wouldn't know if their ass was on fire followed by media and corporations running rampant and unchecked. Then when people like me pop up we're quickly labelled socialist or commo's to suit the political agenda. Who would think that having wars, a huge deficit in trading and budget deficit plus an unchecked domestic credit policy would lead to long term sustainable economic improvement? Only an idiot, and sadly most are. __________________ TAS Training & Assessment Services\| Arb and Hort Training available here Free Online Tree Value Calculator by TreeWorld Free Online TPZ and SRZ AS4970-2009 Calculator by TreeWorld Free Online Tree Surface Area and Tree Volume Calculator by TreeWorld Free Tree and Green Industry Deep Link Directory ... Yes, I also SEO (Optimize) and build websites that fly high in Google Qualified Brisbane Tree Lopping \| Stump Grinding Brisbane Brisbane - Gold Coast Consulting Arborist, Tree and Arborist Reports \| Project Arborist

19th April 2009, 08:25 PM	#7
Therrin Tree World Ninja Monkey Join Date: Oct 2007 Location: Bakersfield, Ca Posts: 2,554	Re: The Crisis of Credit I disagree insomuch as that I think there are alot of very capable, very decent and very intelligent people in this country. The problem is when the indecent ones find positions of power in finance and government, and when they allow the other fools to be reckless without restraint. It's really a poor picture being painted for all the good people in this country, and its sad, because it doesnt take 3/4 or more of the country being fools for this to occur, it only takes a smaller percentage, but it has a HUGE impact. There ARE bad apples, but I think its to a far lesser extent than you're making it out to be. I know you dont care much for the USA, but this is MY country, and I love my country, so I make no regrets about defending it when I feel that youre slamming EVERYONE in this country as a whole for the actions of a select group of them.

19th April 2009, 08:47 PM	#8
Ekka Admin - Dip Arb & Hort & Seldom Wrong Join Date: Jan 2007 Location: Brisbane Posts: 9,789	Re: The Crisis of Credit I agree, I wrote else where recently that it seems the intelligent shut up coz they get badgered by the dumb asses. Therrin, hopefully some decent people get control of that place and straighten it out. Governments are there to govern, make rules ... boundaries for business to operate in. There's nothing socialist about that. And trying to appease every faction and race is near impossible, sometimes the preferred solutions aren't popular and that's when real leaders shine! __________________ TAS Training & Assessment Services\| Arb and Hort Training available here Free Online Tree Value Calculator by TreeWorld Free Online TPZ and SRZ AS4970-2009 Calculator by TreeWorld Free Online Tree Surface Area and Tree Volume Calculator by TreeWorld Free Tree and Green Industry Deep Link Directory ... Yes, I also SEO (Optimize) and build websites that fly high in Google Qualified Brisbane Tree Lopping \| Stump Grinding Brisbane Brisbane - Gold Coast Consulting Arborist, Tree and Arborist Reports \| Project Arborist

19th April 2009, 08:51 PM	#9
Therrin Tree World Ninja Monkey Join Date: Oct 2007 Location: Bakersfield, Ca Posts: 2,554	Re: The Crisis of Credit +1!! Now you're talkin. Without getting my hackles up too! I'd love to keep posting on this topic, but from my p.o.v. it'd turn very political, and I'm not quite ready to make such blanket statements because they arent really propper for the forum or relations to my personal business.

20th April 2009, 12:38 AM	#10
newguy18 Part of the Furniture Join Date: Jun 2007 Location: orlando,fl Posts: 5,204	Re: The Crisis of Credit i'll keep my opinions of our government/wall street to myself,i will say that i don't have credit,don't need it in my eyes,no matter where i go i can always pick up a vehicle for about 500 bucks and fix it up,i can always rent a house and i'm skilled in more than one trade so i can almost always find work.If can't pay cash or use my bank card i won't buy it. __________________ Have your say join us today. I ship USA saws out of the USA old schooler

20th April 2009, 12:56 AM	#11
spartek Semi-mature vigorous tree Join Date: Jul 2008 Location: ohio, USA Posts: 156	Re: The Crisis of Credit You mean , in Australia they don't borrow billions of dollars off the Chinese and pass it out to everyone. And all you're folks on welfare aint as fat as sows. You Ausies should look out, cause us yankees got a new card, Its called BARACK OBAMA. He's gonna fix ALL of our problems and probably yours too. No matter what country you're from,,, keep working,,,millions on welfare are depending on you.

20th April 2009, 02:43 AM	#12
funarty Mature tree Join Date: Feb 2008 Location: townsville Q.L.D. Australia Posts: 286	Re: The Crisis of Credit I say you don't have the money for it you can't buy it! Glad I don't have any depts! __________________ COOL TREES=COOL PLANET

20th April 2009, 11:54 AM	#14
Therrin Tree World Ninja Monkey Join Date: Oct 2007 Location: Bakersfield, Ca Posts: 2,554	Re: The Crisis of Credit How about when buying a house? (we all know that Bill doesnt ever plan on buying a house, so this question doesn't apply to him, seeing as how he doesn't, and will never need credit) Or buying a car or even a bucket truck? Some of use actually LIKE driving vehicles that aren't 35 years old and breakin every other week. I guess we just have higher standards of living when we see what we can have, using credit wisely and not running amok with it.

20th April 2009, 12:12 PM	#15
clementine Over mature heritage tree Join Date: Apr 2007 Location: Central Portugal Posts: 514	Re: The Crisis of Credit Credit is what it is, no cash! Why put yourself out there if you can't pay??? __________________ Meddle not in the affairs of dragons - for you are crunchy and taste of chicken! Builder in Central Portugal

20th April 2009, 12:23 PM	#16
funarty Mature tree Join Date: Feb 2008 Location: townsville Q.L.D. Australia Posts: 286	Re: The Crisis of Credit it's debts not depts! I call it in the depths!!! (depts) __________________ COOL TREES=COOL PLANET

20th April 2009, 12:44 PM	#18
funarty Mature tree Join Date: Feb 2008 Location: townsville Q.L.D. Australia Posts: 286	Re: The Crisis of Credit mines an '87 and it's the best! __________________ COOL TREES=COOL PLANET

20th April 2009, 01:48 PM	#20
newguy18 Part of the Furniture Join Date: Jun 2007 Location: orlando,fl Posts: 5,204	Re: The Crisis of Credit __________________ Have your say join us today. I ship USA saws out of the USA old schooler

20th April 2009, 05:48 PM	#21
Ekka Admin - Dip Arb & Hort & Seldom Wrong Join Date: Jan 2007 Location: Brisbane Posts: 9,789	Re: The Crisis of Credit Here's the wisest piece of financial information I have ever heard. You borrow money for assets that .... 1/ Appreciate 2/ Generate profit greater than their depreciation/running costs. (Be smart here, a chipper for example can convert $1000's of tipping fees to profitable mulch, however is the running costs/maint etc plus repayment/depreciation going to put you infront? Do the math, sometimes people lose too) Companies have for years leased vehicles, some buy then depreciate and sell at 2 years/50,000Kms etc, the accountants have the numbers but machinery is different, it generates income unlike some fat ass executive taking his lard to the office in his corporate SAAB! What has really happened to house prices in your neighbourhood over the last 5 years annually? Lets see people. I live in Springwood, 5 years ago the ave house was maybe $300K, just before the credit squeeze it might have peaked at $420K and now dragged back to $375K. The irony is 10 years ago they were $150K. The under 400K market is still strong here but the 500K+ market is soft. Anyway, houses are dear and it's hard to buy one! A shitbox in Brisbane is now $300K, 1 bedroom units $200K! __________________ TAS Training & Assessment Services\| Arb and Hort Training available here Free Online Tree Value Calculator by TreeWorld Free Online TPZ and SRZ AS4970-2009 Calculator by TreeWorld Free Online Tree Surface Area and Tree Volume Calculator by TreeWorld Free Tree and Green Industry Deep Link Directory ... Yes, I also SEO (Optimize) and build websites that fly high in Google Qualified Brisbane Tree Lopping \| Stump Grinding Brisbane Brisbane - Gold Coast Consulting Arborist, Tree and Arborist Reports \| Project Arborist

20th April 2009, 06:15 PM	#22
Therrin Tree World Ninja Monkey Join Date: Oct 2007 Location: Bakersfield, Ca Posts: 2,554	Re: The Crisis of Credit The person without credit.... Has none =)

20th April 2009, 10:23 PM	#23
funarty Mature tree Join Date: Feb 2008 Location: townsville Q.L.D. Australia Posts: 286	Re: The Crisis of Credit NOT necessarily! __________________ COOL TREES=COOL PLANET

21st April 2009, 06:22 PM	#25
Ekka Admin - Dip Arb & Hort & Seldom Wrong Join Date: Jan 2007 Location: Brisbane Posts: 9,789	Re: The Crisis of Credit As business relocates to cheaper labour countries slowly those countries living standards increase and so do the peoples expectations and income. They say India has the world's largest middle class, some 300 million people out of a 1.2 billion population mind you. Some of those "tiger" countries have now evolved economically that they aint so cheap any more, so businesses continually exploit global economies looking for cheaper places to manufacture. Now not all of this is fair because govts do get involved and China doesn't play fair either. The thing I notice is that when a manufacturer like say Blundstone boots leaves Australia and goes to China ... we end up buying the boot for the same price and it's lesser quality! The savings is not passed on, it's taken as profit and in most cases the quality falls. When a market has been accustomed to paying a certain price for a product then that price will stay however when the business wants to enter a new market it does so at a lower price to gain market share. So in many cases when a business departs a decent country to make goods elsewhere, those goods become cheaper only for new markets not where they left. Have a look at China's record, toxic clothes, toxins in milk, toxic toys, tread separation and tyre recalls ... they dont give a crap about "white round eyed people"! And the bastid corporations not far behind them!! __________________ TAS Training & Assessment Services\| Arb and Hort Training available here Free Online Tree Value Calculator by TreeWorld Free Online TPZ and SRZ AS4970-2009 Calculator by TreeWorld Free Online Tree Surface Area and Tree Volume Calculator by TreeWorld Free Tree and Green Industry Deep Link Directory ... Yes, I also SEO (Optimize) and build websites that fly high in Google Qualified Brisbane Tree Lopping \| Stump Grinding Brisbane Brisbane - Gold Coast Consulting Arborist, Tree and Arborist Reports \| Project Arborist

22nd April 2009, 01:48 AM	#26
Bruce Hopf Veteran Heritage Status Join Date: Dec 2008 Location: North of Sebringville, Ontario, Canada Posts: 1,053	Re: The Crisis of Credit I have to Agree with you, about China. Still the rest of the World can't compete with Countries like China for labour. Heck not even the Farmers around the World can Compete. The biggest farm that a Farmer in China has is One Acre, and they do everything by Hand for Threshing their Grains, and Ox, to pull their Implements, for Tilling their Land. Bruce. __________________ McCulloch chain saws 1- Pro Mac 60, 1- Pro Mac 700, 2- Mac 10-10 Automatic's, 2- Mini Mac 30's, 2- Mac 110's, 2- Mini Mac 35's, 1- Mac 140 with Automatic Chain Sharpener, 1- Pro Mac 10-10, 1- Mac Cat, 2- Eager Beaver 2.0's, 1- Mac 1-10 Stihl chain saws 2- 044's, 2- 034's, 2- 024's, 1- 064, 1- 084, Strunk chain saws 1- Busy Beaver, 1- SpeeDemon Special Stand Back, I Have A Very Extreme Case of CAD (Chain Saw Addiction Disorder).

13th June 2009, 10:58 AM	#27
treejames64 Semi-mature vigorous tree Join Date: Mar 2009 Location: Gainesville, fl Posts: 106	Re: The Crisis of Credit I know that I'm buried in a large condo job that is probably going to last a couple of months. I've got to use plastic to pay expenses. What bothers me the most is why a small group of people can just print up the money and loan it to governments when they have absolutly nothing to back it up with. Where did they get off with taking all our gold and giving us paper back?......Somewhere along the way we can no longer get the gold and silver which backed our doller back. Just more and more paper..... Last edited by treejames64; 13th June 2009 at 10:59 AM. Reason: Its about time for another revolution................

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