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  1. #1
    Chinese spy
    sabang's Avatar
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    The Millionaire Next Door








    In the pandemic, when it felt like everything was falling apart, wealth got on the elevator and kept going up. As the next graph shows, Australian wealth had a banner year in 2020 because of low spending, low interest rates and a sharemarket that recovered its early losses.







    Full Article- Weird signs and ominous warnings as Australia’s millionaire ranks grow wildly (msn.com)


    Interesting. Few people would have predicted after Covid had broke out that basically, two years later the rich would still have got richer. Financial assets, such as Stock market & Property, have performed very strongly.

    Of the wealthiest places, only HK has taken a hit- because of the politics, not the virus- and the PetroSheikdoms.

  2. #2
    Thailand Expat misskit's Avatar
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    Quote Originally Posted by sabang View Post
    Interesting. Few people would have predicted after Covid had broke out that basically, two years later the rich would still have got richer. Financial assets, such as Stock market & Property, have performed very strongly.
    Most surprised are those millionaires who have seen their assets grow in these times.

  3. #3
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    Quote Originally Posted by misskit View Post
    Most surprised are those millionaires who have seen their assets grow in these times.
    Oh, you idealist.

  4. #4
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    ^^ True indeed. Property price have been rising strongly in Oz- I really don't get that.

  5. #5
    Thailand Expat misskit's Avatar
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    Quote Originally Posted by bsnub View Post
    Oh, you idealist.
    Why? I’d be surprised if you didn’t soon pop up in the millionaire category (if you aren’t already) since you own properties in Seattle.

  6. #6
    ความรู้ลึกลับ HuangLao's Avatar
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    Quote Originally Posted by misskit View Post
    Most surprised are those millionaires who have seen their assets grow in these times.
    On the contrary, this is when the exploiters surface - during these tragic and uncertain times.

  7. #7
    Chinese spy
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    Exploitation, sexploitation. They way to have made money in this pandemic was to-

    1/ Be already rich, or comfortably set up
    2/ Live in an already rich country, or have financial/ property investments in them
    3/ Do nothing- do not panic, sit on your hands. And get richer.

  8. #8
    Thailand Expat misskit's Avatar
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    ^Exactly.

  9. #9
    Im bored AF Backspin's Avatar
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    It's all because the major central banks are expanding the money supply. Boomer oligarchs once again , printing money to bail themselves out and to make sure they never experience a real recession in their lifetime.

    The same boomer take all trend that we've seen since 1985. Print money and watch your assets rise.

    Last edited by Backspin; 05-07-2021 at 10:39 PM.

  10. #10
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    always keep some cash for a crash. not rocket science. i have been cashing in for a few months, cos i think there will be a crash before/around sept. never panic sell, cos ur too late already, and it will come back.

  11. #11
    Im bored AF Backspin's Avatar
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    Quote Originally Posted by lob View Post
    always keep some cash for a crash. not rocket science. i have been cashing in for a few months, cos i think there will be a crash before/around sept. never panic sell, cos ur too late already, and it will come back.
    But if you bought high and waited for a greater fool, for the last 13 years , that greater fool always came.

  12. #12
    Im bored AF Backspin's Avatar
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    Authored by Charles Hugh Smith via OfTwoMinds blog,
    We have a fine-sounding word for running with the herd: momentum. When the herd is running, those who buy what the herd is buying and sell what the herd is selling are trading momentum, which sounds so much more professional and high-brow than the noisy, dusty image of large mammals (and their trading machines) mindlessly running with the herd.
    We also have a fine-sounding phrase for anticipating where the herd is running: front-running. So when the herd is running into stocks, those who buy stocks just ahead of the herd are front-running the market.



    When the Federal Reserve announces that it’s going to make billionaires even wealthier with some new financial spew, those betting that stocks will never go down because the Fed has our back are front-running the Fed.


    There are two remarkable assumptions at the heart of momentum and front-running: The momentum herd and those front-running the herd base their behavior on the assumption that there will always be other rich people who will sell all the shares they want to buy at today’s prices before the run-up to new highs.


    Front-running and the Greater Fool Theory

    Since only rich people own stocks, we know that those selling stocks are selling to other rich people and those buying stocks are buying from other rich people. So the assumption of those front-running the market is that there is a large enough sub-herd of rich people who for whatever reason aren’t smart enough to front-run the herd, and who will foolishly sell their stocks just before they double in value.


    The second assumption is that there will also be a large enough sub-herd of rich people who will buy all the shares they want to sell at the top, just before the bubble pops and the value of the newly purchased shares falls in half.


    There are various ways to state this, but the bottom line is that momentum and front-running are only profitable if you sell at the top, just before the bubble bursts.
    You would be forgiven for anticipating that the same sub-herd front-running the herd and the Fed on the way up to the top of the bubble would be just as prescient and active in front-running the inevitable bursting of the bubble, but this is not how running with the herd works.
    Short interest recently plumbed multi-year lows, indicating that very few are front-running the market crash.
    ‘I’ll Bail in Time’

    Those trading momentum and front-running the herd/Fed are making a remarkable assumption, an assumption which is visible in a great volume of financial-media content: the stock market, we’re told, will continue to make new highs like clockwork until some point in the third or fourth quarter, at which point there may well be a spot of bother, i.e., a crash.
    The assumption is that all the rich people who own stocks will be so splendidly stupid that they will hold their shares until the crash and then sell them at prices far lower than they can fetch today.
    Put another way, the market participants who decide this is close enough to the top to liquidate their positions today and not wait around for the crash to wipe them out assume that that the herd of other rich people who will be delighted to buy their insanely overvalued shares at today’s prices is large enough to absorb all their selling with no downward pressure on valuations.
    In other words, the assumption being made is: I can wait until just before the crash to sell, because there will be boatloads of splendidly stupid rich people who will buy all the shares I want to sell at today’s lofty prices — or higher, and this liquidation won’t push valuations off a cliff.
    As a general rule, people don’t all become rich by being splendidly stupid, i.e., failing to anticipate what other rich people are about to do, and so this raises the question: what if everyone in the market realizes it’s now the moment to front-run the crash?
    Perception vs. Reality

    The risks arise from the disconnect between the precariousness of the manipulated market and the extreme confidence punters have in its stability and predictability. This stability is entirely fabricated and therefore it lacks the dynamic stability of truly open markets.
    Markets that are being distorted/manipulated to achieve a goal that is impossible in truly open markets — for example, markets that only loft higher with near-zero volatility — lull participants into a dangerous perception that because markets are so stable, risk has dissipated.
    In actuality, risk is skyrocketing beneath the surface of artificial stability because the market has been stripped of the mechanisms of dynamic stability. This artificial stability derived from sustained manipulation has the superficial appearance of low-risk markets, i.e., low levels of volatility, but this lack of volatility derives not from transparency but from behind-the-scenes suppression of volatility.
    Another source of risk in distorted markets is the illusion of liquidity.

  13. #13
    Thailand Expat Slick's Avatar
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    Quote Originally Posted by misskit View Post
    I’d be surprised if you didn’t soon pop up in the millionaire category (if you aren’t already) since you own properties in Seattle.

  14. #14
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    Quote Originally Posted by misskit View Post
    Why? I’d be surprised if you didn’t soon pop up in the millionaire category (if you aren’t already) since you own properties in Seattle.
    I mentioned the current value of the house I bought in the mid 2000s once on here. You get responses like the one above from moronic, resentful trailer trash.

    I should never have mentioned any of it and just let the morons continue to push their fantasist nonsense, since they still do anyway.

  15. #15
    Thailand Expat havnfun's Avatar
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    Quote Originally Posted by Backspin View Post
    It's all because the major central banks are expanding the money supply. Boomer oligarchs once again , printing money to bail themselves out and to make sure they never experience a real recession in their lifetime.

    The same boomer take all trend that we've seen since 1985. Print money and watch your assets rise.


    HHaa HAAAAAAAAAAA , my house went up 10% over the last year.

  16. #16
    Thailand Expat havnfun's Avatar
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    Quote Originally Posted by bsnub View Post
    I mentioned the current value of the house I bought in the mid 2000s once on here. You get responses like the one above from moronic, resentful trailer trash.

    I should never have mentioned any of it and just let the morons continue to push their fantasist nonsense, since they still do anyway.
    Your fucked too now Snubs. Your a millionaire they'll be after you soon, you better be nice to them.then itll be ok.

  17. #17
    Thailand Expat havnfun's Avatar
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    Quote Originally Posted by sabang View Post
    3/ Do nothing- do not panic, sit on your hands. And get richer.
    That was my plan, #3.

  18. #18
    Thailand Expat havnfun's Avatar
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    For all the "non-millionairs" the only thing stopping you is YOU.


  19. #19
    Thailand Expat Slick's Avatar
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    Quote Originally Posted by bsnub View Post
    You get responses like the one above from moronic, resentful trailer trash.
    Not resentful at all - unlike you I have no issue with you being an 'almost millionaire' and dont even want you fucked on taxes. Whats yours is yours.

    But youre none of these things, and for that I mock you.

  20. #20
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    Quote Originally Posted by Slick View Post
    But youre none of these things, and for that I mock you.
    You do not mock anyone or anything, you angry little trailer park dwarf. I get a laugh at every one of your posts like this, it shows how pathetic you are.

    Do you know what one of the nicest things about living in Seattle is? It's that pathetic trumpazee losers like you can not afford to live here.

    A one-bedroom apartment here costs more than double or even triple your monthly mortgage payment on that shitty little house you have in swamp town backwater, Florida.


  21. #21
    Thailand Expat Slick's Avatar
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    Quote Originally Posted by bsnub View Post
    You do not mock anyone or anything, you angry little trailer park dwarf. I get a laugh at every one of your posts like this, it shows how pathetic you are.

    Do you know what one of the nicest things about living in Seattle is? It's that pathetic trumpazee losers like you can not afford to live here.

    A one-bedroom apartment here costs more than double or even triple your monthly mortgage payment on that shitty little house you have in swamp town backwater, Florida.

    I just took my kiddo the beach.

    Water was warm, son.

  22. #22
    CCBW JPPR2's Avatar
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    People tend to forget that equity in property is only upside if you sell it and move somewhere way cheaper which most do not do. I know plenty of people where their appraisal value is over a million. Great! So you sell. First pay off the loan because very few own their home outright. Then to avoid capital gains you have to dump 20% (or more) of that on a new place. If you have excess you have to reinvest or get taxed up the ass so in the end, the individuals net assets are a lot of smoke and mirrors and heavily inflated. Like stock, you have a few million. You exercise the securities and lose 30% to capital gains tax. The net is now income tossing you in a higher tax bracket where ultimately you lose more to taxes. It's all a shell game and on paper wealth.

  23. #23
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    Quote Originally Posted by Slick View Post
    I just took my kiddo the beach.
    "to the"

    Too bad that you had to drive an hour to get there.

  24. #24
    Chinese spy
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    Do people swim in the Bayoux?

  25. #25
    Im bored AF Backspin's Avatar
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    Quote Originally Posted by JPPR2 View Post
    People tend to forget that equity in property is only upside if you sell it and move somewhere way cheaper which most do not do. I know plenty of people where their appraisal value is over a million. Great! So you sell. First pay off the loan because very few own their home outright. Then to avoid capital gains you have to dump 20% (or more) of that on a new place. If you have excess you have to reinvest or get taxed up the ass so in the end, the individuals net assets are a lot of smoke and mirrors and heavily inflated. Like stock, you have a few million. You exercise the securities and lose 30% to capital gains tax. The net is now income tossing you in a higher tax bracket where ultimately you lose more to taxes. It's all a shell game and on paper wealth.
    True. Even the people who won the grift barely win in the end. This hyper financialized economy works for nobody. Except the billionaire scum. Who should all be shot and pissed on and thrown into the sea.

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