bug
Senior Member
Posts: 2,316
Likes: 1,934
|
Post by bug on Jun 28, 2022 14:40:52 GMT 10
I’m not saying they can spend with out consequences, I’m saying their ability to tax a population and their ability to create or destroy currency as well as manipulate the value of that currency not to mention GDP does change the rules of engagement a bit in terms of a deficient always being bad Yip it just takes longer for the collapse as gov have more assets to sell off, but the result is the same. Imagine a country banning fuel sales due to lack of foreign capital... Sri Lanka suspends fuel sales for two weeks as economic crisis worsensCash-strapped Sri Lanka has announced a two-week halt to all fuel sales except for essential services and called for a partial shutdown as its unprecedented economic crisis deepened. Last week, all government schools were shut down and state institutions operated with skeleton staff to reduce commuting and preserve oil. www.theguardian.com/world/2022/jun/28/sri-lanka-suspends-fuel-sales-for-two-weeks-as-economic-crisis-worsens Sri Lanka goes into debt with China. Ends up in financial catastrophe. Gasp! |
|
bug
Senior Member
Posts: 2,316
Likes: 1,934
|
Post by bug on Jun 28, 2022 14:46:31 GMT 10
Wait.. you man I should spend LESS than I earn?!? Well this is brand new information. His advice in David Copperfield was this: ‘Annual income 20 pounds, annual expenditure 19 [pounds] 19 [shillings] and six [pence], result happiness. Annual income 20 pounds, annual expenditure 20 pounds ought and six, result misery.’ Gov are spending way more than they receive from taxes, and continuing to expand, there is one outcome misery.. Australians have the highest personal debt in the world, US savings rates are dropping due to inflation. The consumer gig economy is going to implode. tradingeconomics.com/united-states/personal-savings Private debt in Australia exists out of necessity. For most people, the only way to avoid getting screwed by the ATO is to have investment properties. Those properties must be highly leveraged in order to get the tax break. So you end up with a huge number of people who are moderately wealthy carrying a large amount of debt. The marginal tax rates in Australia are madness. At $185k, which practically every FIFO worker, every executive, every lawyer, (and there are plenty more) will be on, you get smacked with 45% tax. The simplest way out of this is to buy property, so that's what they do. A housing price drop would not affect this in the slightest. The only thing that could seriously be damaging is if interest rates skrocket without a corresponding increase in rental income. |
|
