Adumbration

Thanks for the detailed post. I am also very interested in the cost for the Rezume and associated follow ups.

There is absolutely no way you can live well in Australia on the OAP unless you have free housing. None whatsoever.

Australia is now a basket case. They kicked the housing crash can down the road so many times...but this is the big one. Hang on and batton down your hatches.

Sigh. Nationalism wont displace the economic realities that are currently unfolding. Two things are a certainty moving forward: 1. The AUD is toast 2. The Australian residential property market is toast If any single external country enters the Ukraine conflict you can amend my above statements to badly burnt toast.

No volt is not, but the reason why they went bust is what you need to take notice of.

Really. What percentage of their equity is held in residential mortgages...70% of which will have their rates reset early next year and will fall almost into immediate NPL category.

Aussie banks are about to collapse. RBA is bankrupt...literally. So will have to print to bail banks. Printing will send AUD sub 50C USD. Might even test 40c. RBA cannot buy the AUD because it is bankrupt with no foreign reserves.

https://www.cnbc.com/2022/09/21/australias-central-bank-has-equity-wiped-out-by-billions-in-bond-losses.html

https://www.news.com.au/finance/business/banking/australian-bank-volt-collapses-urging-6000-customers-to-withdraw-funds/news-story/2cbdca763f8d4088d8808bdfef7d9bf9

No way the RBA can step in and buy the AUD either. Foreign reserves are only 1.4 time the cost of just 1 month of our imports.

And maybe the banks as well. Osko payments down today. Probably pre planned to try to prevent run on Ozzy banks.

23.7 to the baht today. Exchange at this rate if you need the money. May not see 23.7 ever again. RBA made the decision last meeting to take their foot off the rate increase peddle. A policital decision to try and prevent total collapse of Australian property market. However the result will be the AUD collapsing to sub 50 USD.

Oh good Lord...you thought I was serious. Perhaps you are a robot with no programming for humor. And the last two lines of your post are absolute piffle. Properties in this area are going up in value quickly and every single house in this village that has ever come up for sale is now being pounced on. Yep...you must be a robot...or a 16 year old that has never been to Thailand and is posting from your parent's basement. Calm down and yell up the stairs for Mum to bring you down some milk and cookies.

In the 18 or so months since I have owned my Thai house it has gone up at least 50% in value I reckon. It is now worth 405K thai baht...Rivers of gold... I could sell it and move back to Australia and pay the rent on a small one room studio for about one year.

The reverse is always true...with the exception of screw top jars where the reverse is anti true.

Yes I have a few friends living here on the Oz pension, they have borrowed money for cars and the like one in his late sixties has just had a kid. Going to be hard for them when the AUD is sub 20 baht.

Not a hope if the RBA does not raise the cash rate above 10% because that is where the US rate will be this time next year. And, as I have already posted there is not a SINGLE instance in economic history where the cash rate did not have to be raise to at least the rate of inflation for it to cool. Inflation is already running higher than 10% in both Oz and the US (and much higher but both Governments are lying) so there is no chance inflation will be tamed with lame 3-4% cash rates. And of course if one single external country enters the Ukraine to join the fight inflation is going to rocket even more.

The RBA sold their souls to politicians long ago. No need for them to know what they are doing...they are being told what to do.

I get asked from time to time. But the answer is always no...and has been for nearly a couple of decades now.

If you think inflation has peaked in Australia you are absolutely deluded. It is just getting started.

I am from Australia. I retired when I was 45. Grew up dirt poor in housing commission area of western Sydney. Mother died of breast cancer when I was 15, Father, a violent alcoholic truck driver, ran off with the next door neighbor's wife after mum's cancer was diagnosed as terminal. I have a little house 3 minutes from a stunning west coast beach. I have two fishing boats moored in a nearby creek that feeds out into the Andaman sea. Two days ago I went on my first fishing trip of the season and had a great catch of queenfish, grouper, coral trout, and spanish mackeral. I also go one big blue swimmer crab (delicious). Freezer is almost full of seafood already. The house cost me 270K thb. There are no expensive land rates like back in Oz. My electricity bill is always sub 700 baht, even after I use my welder and other tools to make myself things (like anchors for my boats). We also have two small farms nearby and I have dug a bore there and installed a jet pump and connected the electricity. We have mango trees, longon trees, coconuts, pineapples, mulberries, ginger, durian, and all the usually Thai herbs and spices. In fishing season I buy very little meat from the supermarket and very little from the fresh market as well. My out of pockets for most months is usually less than 5K thb. How much would a similiar lifestyle by the beach in Australia cost me?

You obviously have no idea what the real issues are here. At its last meeting the RBA took its foot of the rate increase peddle. Lowe has made a decision to sacrifice the AUD in order to TRY and stop the Australian residential property market from collapsing entirely. This decision is entirely political. Boomers have the largest voting mandate in Australia. Boomers will still be able to brag their house is worth a million oz dollars, but the AUD will be trading at 48c USD. The outcome of this retarded and abhorent decision however, is that the AUD will collapse, it is heading for sub 20 THB if Lowe fails to raise by at least .50 at the November meeting. Lowe is also pi**ing in the wind because as the AUD collapses he will import additional inflation on goods purchased from abroad. So CPI figures will rise expontentially. Lots of uncertainty at the moment but two things are crystal clear: 1. The AUD is toast 2. The Australian residential property market is toast A lesser issue here is also that the BOT is now stepping in to buy the baht. I already started another thread on this if you check my post history.

I left Australia, I am pretty sure it still exists.

Worthless article. I would be interested in seeing a breakdown of the exported goods. It cannot just be rice. And why is Cambodia not pivoting away from low rent markets like Vietnam with the world food crisis emerging. Surely there are large gaps in the Euro markets emerging now due to the Ukraine war.

I just received an email from my Thai stockbroker confirming that he will attend. Anyway let's not get ahead of ourselves. By November Russia might not even exist, along with large portions of other countries.