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OT: Current Affairs and Politics

crocodile

Bench
Messages
3,496
The beauty of my position is that I need not predict the future, I only need demonstrate that it will not be the same as it now is, and history tells us all that is, and will be, the case.

Pretty much all productivity gains we have seen in the last hundred years or so boil down to investment in technology and infrastructure, why on earth would the next hundred years be any different?
Not even the last hundred years but for all time. Productivity gains have been on the march ever since the Abbos found out that funny shaped sticks come back when they miss the target. Same for that caveman when he put a wheel on a cart.
 

hindy111

Post Whore
Messages
58,499
There's a good chance that in the future there will be increased demand for bandwidth due to high security overheads. But also likely that the fibre currently in the ground will all need to be replaced anyway. It is very difficult to future proof this stuff. It's pretty much a guessing game.

Why? Fibre is speed of light. You can not get water in it. It is a thin bit of glass. You can shine your torch down it and the light will come put the other end. I dont see it breaking down. Its very well made cable. Its wrapped in kevlar. And wax. Then a thick plastic coat.
 

Poupou Escobar

Post Whore
Messages
84,160
Why? Fibre is speed of light. You can not get water in it. It is a thin bit of glass. You can shine your torch down it and the light will come put the other end. I dont see it breaking down. Its very well made cable. Its wrapped in kevlar. And wax. Then a thick plastic coat.
At the rates at which the photons are sent down the tube (including the gaps separating the bits), quality makes a difference that is maybe undetectable by you with your torch.
 

crocodile

Bench
Messages
3,496
Why? Fibre is speed of light. You can not get water in it. It is a thin bit of glass. You can shine your torch down it and the light will come put the other end. I dont see it breaking down. Its very well made cable. Its wrapped in kevlar. And wax. Then a thick plastic coat.

Speed down a piece of copper isn't much different.
 
Messages
11,677
In light of the position this government took before and after the Banking Royal Commission, their instructions to APRA to tighten up lending practices (which led to many punters being unable to secure a basic home loan) which apparently was based sound economic data of our disproportionally high personal debt and the cost of housing in our major capital cities, this is astonishing.

Bank loans will be faster, easier to apply for under credit shake up


https://www.news.com.au/finance/eco...p/news-story/9ecbcc40662431a4a36bec6c8cd1a8cd

Yeah, was gonna mention this.

So, comes in in March...right when the banks end their mortgage holidays...and they create a new bunch of people that are now eligible to get loans, boosting demand even amidst a horrible economy.

Looks like I might have to pull back on that 20% downturn prediction.

Well done, government. Well done.

Mind you, it's a terrible move. Saddling people who can't afford debt with the biggest debt they'll ever have just to kick the housing can down the road is atrocious. But, I did say that the government does not want to be the one responsible for overseeing the collapse of the housing market, so this is no surprise.
 

Bandwagon

Moderator
Staff member
Messages
41,834
Yeah, was gonna mention this.

So, comes in in March...right when the banks end their mortgage holidays...and they create a new bunch of people that are now eligible to get loans, boosting demand even amidst a horrible economy.

Looks like I might have to pull back on that 20% downturn prediction.

Well done, government. Well done.

Mind you, it's a terrible move. Saddling people who can't afford debt with the biggest debt they'll ever have just to kick the housing can down the road is atrocious. But, I did say that the government does not want to be the one responsible for overseeing the collapse of the housing market, so this is no surprise.

The variable in this is that it'll apply to all forms of credit, obviously the government is planning on a ( continuing ) credit binge to kick start economic growth. So I'm not quite sure the majority of the focus is on housing, but without doubt it is kicking the can down the road.

The downside is the potential for an explosion in consumer credit, funding lifestyle and depreciating assets like large TV's and cars. That'll certainly boost economic growth, but it also chews into disposable incomes. Watch for the stories of mortgage stress where the people involved are interviewed in an oversized home with a double garage with cars parked out the front , and full of the latest gadgets, they'll become even more common place. We can't help ourselves.

What this policy does is formally legalise the cowboy like behaviours of the finance system that existed prior to RC, and simultaneously allow for the transfer of government debt to the private sector through credit driven growth. Whilst it may well "work", it'll also leave us more exposed to the next disaster, far more so than the myth of deficits doing so ever will.
 
Messages
11,677
And, personally, I went straight to housing because I've been yapping on about a housing fall for a while now.

Well, turnabout is fair play and while we have to see how this plays out...this could put a dampener on that if not put the brakes on it altogether...just depends on what people do with it (and the 1.5% interest rate mortgages that will come with it).
 

Gronk

Moderator
Staff member
Messages
73,548
It's on !

I bet you $1 Pou will find a way to say that a billionaire paying no tax is a badge of honour.

 

Poupou Escobar

Post Whore
Messages
84,160
How many politicians have released their tax records? Rich people don't want poor people to know how little tax they pay, especially if they want their vote.
 
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