Belly “I would not advise rushing into housing as a hedge just yet Col.”

I was not advising it, I was commenting on what happened during the 1987 stock crash.

I never offer advice on financial matters here for the following reasons
1 It may well be illegal to do so.
2 I am accustomed to being paid for the advice I give and don’t do ‘free-bees’
3 and most importantly, unless one knows the background of the person receiving the advise, one cannot predict the appropriateness of options proposed.

In short, anyone seeking advise on financial matters is best to go and sit with an appropriately accredited financial mentor / analyst / tax expert / accountant / superannuation consultant who is or has time to properly understand their background and goals / objectives,

“Professional Advise” is a marketable commodity and it is usually worth what it costs and indicates the value of what you get for free.

Yabby we only ever know if we made an "investment" or not in hindsight.

In my early accountancy days I knew of one business man who ran a chemical business. He used to look at each of the new products his marketing and research teams invented and proposed for market. He would half the selling price, double the production cost and if it still made a profit, he would approve it.

The “Mark to Market” rule widely applied by Enron used, who collapsed under. It was originally designed to be used as the “exception”, in the absence of other valuation data but when used widely and consistently as the “:rule”, like Enron did, it becomes the basis of fraud.

Wearing my accountancy hat, I would demand such “valuations” be determined at the lower of cost or realizable value, that is the conservative approach but is what we must demand from “real accountants”.

In other words, you achieve any profit when you realize the sale. You don’t record a profit on a tradable item whilst it’s remains on your books (limited exceptions for non-traded “land and buildings”, held over a long time apply).

I do you know, make every effort to ignore the group known as PALE.
It seems however they come to threads I am involved in, make spiteful childlike comments like that one.
With one intention, get me going, of all who post here I have less regard for the disjointed views of Pale.
If the post was not flaming what was it?
We should not however forget the thread contains questions we all have an interest in.
And even now we have not yet felt the full impact of this crisis.
Housing in my view is not a good short term investment.

Belly
I dont know what your problem is. The thread title is What happened to the money.
With reference to our own country Australia I responded accordingly.

Only yesterday Rudd told us he would have to go into the red.
This is not even a year since his taking leadership. It took us years to pay back labours huge money spending habit the last time.

Sure we have a Global problem which is more reason why we dont need ALP.

We only have to look at the States not to mention the track record of the last labour Government.

Belly this isnt a two year old kids group where we play tag teams for goodness sake.

You have time and time again targeted us simply because we have our own views.

Well here is news- that`s what forums are all about so try to grow up.

Try to debate he topic instead of personally attacking the person making the comment.

tell us why you believe I am wrong about ALP not being able to manage money.

If nothing else it should make for interesting reading.

I am aware of that post ,however I will not take the bait.
Like others who post here I long ago gave up on the group posting as PALE.
I will debate freely with most, those who oppose my politics and my love of the union movement.
But I see no point in this, it is not debate it is targeted mud slinging.
Yet again it will be me who abandons a thread that interests me rather than communicate with that group.
But for sure and certain, in time another bucket of mud will arrive in another thread I am active in.
The money?
It is gone sadly the thought that ANY ONE could blame the Australian government for the international crisis is?
Well it is uniformed at best.
I leave another thread but PALE you do more harm to your groups aims than ten thousand sheep export ships.

Belly

You always respond with personal attacks when I make a comment about Government policy.

I suggest you debate the topic instead.



Of course we are aware of the global crash. Which is why I am deeply concerned it is compounded in Australia because we have a Government that has already blown out the budget.

Within ten months we are now talking about going into the red