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About HiredGoon

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  1. Mine is that his credit bubble bursts before he dies, and he gets held accountable. Or, maybe, the old coot will laugh about it, he did sleep with some chick who wrote books about the intellectual elite deliberately throwing a spanner in the financial works and crashing the whole system.
  2. Stats are from 2005/06 financial year in Australia. More comics here: http://forum.globalhousepricecrash.com/ind...showtopic=16502
  3. HiredGoon

    Let the conspiracy theories begin ...

    In iterated prisoner's dilemma, a population of always-cooperate will out compete a population of always-defect. However, if you get a few always-defect's into a population of always-compete, they will completely annihilate them. Tit-for-tat will survive being overrun by defectors, and the defectors will settle down into a small population. Psychopaths could be thought of as defectors in the cooperation of society. A whole lot of them would be useless, as nobody would work together, but so long as their population is small enough that people are still willing to trust their fellow man and work together, the psychopath can take advantage of other people's generosity and cheat them. That's why there are still psychopaths in the population (5% or something)
  4. HiredGoon

    Sequestering CO2

    Carbon + Oxygen => Heat + CO2 We want to get rid of the CO2. If you try to separate the O2 out of the CO2, laws of thermodynamics mean that you can't get it separated again, without being net-energy negative, which means oyu might as well have not burned the carbon in the first place. So sequestation has been suggested, this is basically putting the CO2 somewhere else than the air, eg deep underground. Great, you're now putting the carbon underground. But it is tied up with O2 atoms from the air. So we're basically obtaining energy from burying oxygen from the air. But um, don't we need O2 in the air? You'd think so, but imagine the benefits to society: -New industries and investment opportunities could be created from selling bottled air. -GDP would go up with so much air related spending -Government tax revenues would go up with increased spending -There could be private ownership of the air, which would encourage conservation. A TRULY WONDERFUL IDEA!
  5. HiredGoon

    Gold and Stock market corrections?

    Gold fell with world wide stock mini-correction today. Though maybe because of the Chinese 10% drop trading halt, this may take a few days to work itself out. I'll be buying AU natural gas shares in a week or so if there have been a few days with no falls.
  6. I moved to the city from a 30 min bus commute as: city rent < suburb rent + 2 * bus tickets Since then, bus tickets +10%, rent +2.2% so I'm still ahead. All my bills are 30% of my take home pay, I save a lot. I have lived in the country, I have lived in the city. They both have advantages, but are both viable, and have been for centuries. Suburbs IMO have the drawbacks of both (lack of beauty/privacy/space of the country and lack of convenience of the city) are a product of cheap fossil fuels and I expect the really low density (beyond public transport) outer suburbs will become ghost towns within my lifetime. For myself, my house is a workers cottage from 120 years ago, which says to me that people can live here without fossil fuels. As this is Australia, we have a unique concern, which is fresh water. The original source of fresh water is now polluted, and so water is pumped from 100+km away. If the shit hit the fan, I could load my mountain bike panniers, and be at my parents rural property (through ~10km of suburbs until off road walking tracks) digging up my silver and gold stash and armed to the teeth within a day but I don't think the shit will hit the fan, more like the fan will sink ever so slowly into the shit
  7. HiredGoon

    Wanted to swap

    Wanted to swap: 1 planet, only known bearer of life in the universe. Will trade for a few generations living in the suburbs that don't have to get out of their cars to eat hamburgers.
  8. One point is that the demand for personal travel is invarient and hard-wired into the human mind. The demand for travel is about 1 hour per person per day across the population. People commute further today than most people died from their birthplace throughout 99% of human history. it didn't matter how much things like this were taxed in order to reduce use, people would still pay it regardless. .... It's obviously not going to stop any flights, so how is the extra money going to help? If decreasing costs increased the amount of travel, why wouldn't increased costs (through tax) decrease it? - http://en.wikipedia.org/wiki/Law_of_supply_and_demand
  9. Had to share this... checkout the ad that ran with the story:
  10. INVESTORS wiped more than $200 million off the value of Bendigo Mining yesterday after unexpectedly low ore grades forced the Victorian gold miner to start shutting down its Bendigo operation barely three months after starting. It is now likely to be a year, or even two, before production can restart as Bendigo seeks to extend drilling under the centre of the city in a bid to prove sufficient gold reserves. Analysts warned it could also take that long to restore market confidence. http://www.theaustralian.news.com.au/story...306-643,00.html Share price on ASX: http://www.asx.com.au/asx/research/Company...ndustryGroup=NO A bit of background - Bendigo is the name of a town which was a large producer during the 19th century gold rush in Victoria's gold-fields.
  11. A lot of Australian mining companies have been taking real hits recently, a few days in a row of -3%, enough to drag the whole market down by a few percent. I'm bullish on commodities buying from the east (but not from the west) but I'll be pissed off if I buy and I could have gotten more if I waited - how long do these dips in base metals miners usually take to play out?
  12. US demographics has less to do with kids and more to do with immigration. I have lived in Australia and Canada, and am used to walking around and seeing people of all races. I visited Japan, and ALMOST EVERYONE was Japanese. It is like they have no immigration at all. Japan could easily open itself up to immigration from other asian countries for low-cost workers, but they choose not to.
  13. If prices go up significantly on metals, it could change whether melting different objects is worth it. There's 3 main grades: 99.99% - pure (bullion and coins), sterling (coins and jewellery/ornaments/cutlery etc) and then silver plate (apparently only a few microns thick). Sterling is cheaper (per silver amount) than bullion most of the time, I assume this is because of melt cost. Silver plate is REALLY CHEAP sometimes, ie a lot of people don't even touch it. How much silver is on silver plate? Is it even worth melting? The material in EPNS is apparently "65% copper, 18% nickel, 17% zinc." These are base metals, sure, but they have been on the move recently. They will probably pull back, but who knows in 5-10 years. These are a lot heavier than coins, which are apparently worth melting - this is a good mix at a good price. Maybe silver will become really fashionable, and reasonably nice silver plated will be bought for use again? So maybe don't crush the vases. I think this is a very space-intensive process and only works on big-payofs for silver price - but I can get a lot of space for not much. So anyone done the maths or know if you can be paid melt costs? Is silver plate worth buying up in huge cheap amounts and storing for a few years?
  14. HiredGoon

    War on savers

    Saving paper money in physical or electronic means is under attack from all directions. Many forces are making it costly for you to be using government currency. Many employers require a bank account to pay you. You are forced to pay for one and use it. The default interest rate you get is shocking low compared to what the bank charges for it. Then do fractional reserve math and it's obscene. Inflation. CPI is a scam. A taxed wage saved and bearing interest is "tax disadvantageous" compared to buying and selling to a greater fool. Doesn't matter what this is, so long as it is going up. And now many governments have halved or reduced capital gains taxes so this is even more of a no-brainer. Selective Tax Breaks Accelarate! Everything will keep going up and up and up forever.......... Savings mean you take away from fun today, to have better life tomorrow. Save = less good now, better later credit = better now, worse later If you are a politician, the contentedness of the populace in the here and now is important. Better now better now better now better now. Put off put off put off. How about I make people happy and get elected now, and we'll deal with global warming/peak oil/house price crash/end of the fucking world next election cycle! But only if the polls say it is worth it, of course. If you're an old man, you might even be dead and buried a hero before it hits the fan. SO KEEP PRINTING THOSE BILLS THERE, BERNANKE! Cheap wall mart crap? All for the low low price of fiscal integrity? A few generations living in the suburbs? It only costs oil wars and clean air you say? Individual or business tries to accumulate and spend money. Government takes a bit of tax away. But taxes also work as a penalty. Alcohol tax discourages you from drinking (but you do anyway because it is fun). But the biggest tax is..... a human being working? Why tax that?! What succeeds in the market can depend on tax rules. If human labor was taxed (and it is) it discourages sailing boats. If it was a tax on something else, like say, noise, or carbon emissions - then the internal combusion engine boats would be discouraged. It's a choice of world we make for ourselves. Current tax laws are a joke - they are amazingly dense and filled with all kinds of compromises to favoured industries etc. You can make a lot of money from not much work if you come up with clever tricks. There are whole industries of people who spend their days optimizing tax - many classes of people (accountants, financial planners, investors, economists) and brilliant minds currently working on it. All that brainpower, going towards minimizing tax. Doing whatever financial tricks, transfers, business and individual role interactions, etc. But is that problem really worth all that intelligence to solve? Imagine if you had the same amount of brain power coming up with ways to minimize carbon emissions? It seems today that the whole focus of the western world is all about shifting money around. That's where all the money is being made, anyway. That's how you make money and power. COME ONE - THIS IS A TERRIBLE PLACE TO PUT SO MUCH EFFORT! This is skimming off the top. Not real production, invention, making things. FOCUS ON THAT! But maybe the people in power, and enough people to keep them there only know financial tricks. Maybe if they had the choice of this world, with their high status, and a better world, where they'd lose status, they chose to keep doing things exactly as they are: I'll vote to make buying your 5th house cheaper than your first! KEEP PRINTING THOSE BILLS THERE, BERNANKE! Up and up and up.