Debt Rattle July 27 2016
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John Vachon Five o’clock crowds, Chicago 1941 • Japan PM Unveils More Than $266 Billion Stimulus (AFP) • Deutsche Bank’s Q2 Net Income Plunges Nearly
[See the full post at: Debt Rattle July 27 2016]$266 billion USD’s is about $2,094 USD’s/person, based on a population of 127 million.
I wonder what the Japanese would do if that money were given to them individually?
Would they spend it, or put it in savings?
QE never, I repeat never, makes it to people; you know, citizens.
I also wonder why people don’t act in their own self interests; literally, almost never…
Usians are especially guilty of this aberrant behavior…Exactly. It doesn’t because there is no pathway except to take on more debt and even that is now pretty much closed. There was an Aussie pollie a few years ago who actually suggested that to get out of the GFC, the Government should give all citizens a chunk of cash, the only stipulation was that it could not be saved or used to pay off debt, it had to be spent.
At least he understood that an economy functions when money is put in at the bottom because it flows to the top, regardless of what the tinkle-down idiots have held.
But the time for any of these actions to be in any way effective at steering the global economy away from the wall and the cliff is now past. Time to bend, lube and brace.
Of course Auckland house prices have to, and will, come down, if its only 50% it will be a miracle and in fact wont make any difference, if they come down even 20% they will wipe out most of the mortgagors anyway, taking the banks with them.
In any case, to imagine that the NZ government could stop the tide of illicit and illegitimate money sloshing around the planet from washing over us is delusional, we are far too tiny to make an iota of difference.
And, although I’m a Green voter, Ms Turei is blowing smoke up my ass with her “comprehensive plan using every comprehensive tool”, she can say “comprehensive” a dozen times and it will still not make such a plan. Now, if she switched to “draconian” at least she would be being honest; still blowing smoke but at least being straight about what it would take to budge house prices in NZ without crashing the market and the economy.
Bend, lube and brace! So true. The expanded version is get used to way less stuff, heaps more hardwork and hardship and be uprooted fairly frequently. Given the amount of foreclosures etc. – what happens to the existing stock of homes when people move out? Derelict and vandalised? And do people just end up renting back their own house or move to some shitty flat or what?
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