Hello Formguide thank you for your post and kind words.
You are right and the stars have aligned against the unwary.
It is the Aussie way to respect somebody who will 'have a go'. This adds to the sadness factor, it is a serious bummer. I went through it during the good times after biting off more than I could chew at one stage - so I know what they are about to go through.
I look at trends and influences, if you like the dynamics that set up an investment climate. Modern media promotes image constantly. Society has come to accept high levels of debt after a long growth cycle (1983 - 2001) and later (since 2001 - 2007) during a long period of ultra low rates, easy lending criteria. The 1983 - 2001 time was a buoyant section of an even longer cycle since about 1948 - post WW2.
I have been warning about the 'falsely driven' growth since 2001 and the irresponsible direction of most of the stimulus since 2007 - because it just blew the bubble to even more dangerous levels.
Most Aussies are preoccupied with life (naturally) and it is not fashionable to have a strong interest in investment. This may change after the manure really hits the fan and takes them out financially in the process.
We need to become a nation of more savvy investors to keep up any standard of living in a world changing at this pace IMO. I hope we get better educated as a nation in response the the upcoming events as they unfold far enough to be visible to all.
Vested interests naturally push their own line, banks, the real estate industry etc and who would blame them - question is at what cost to the unwary and our society / economy in general?
A degree of complacency and the factors above have combined to set a lot of Aussies for a dark time and it *&##es me off that more will not listen to the minority that are screaming foul. I note many of you in here doing just that and I congratulate and thank you for your efforts - it is refreshing to get the message out in this forum is it not? Friends, family and workmates generally get that glazed look and change the subject when we try to warn them - frustrating.
We have seen what has happened to Steve Keen. 'Shoot the messenger' what a boring and expected response to such an important message.
We should all keep trying and we can have a clear conscience when the wealth shifts in our direction. I know I will.
