Comments by "Tony Wilson" (@tonywilson4713) on "Pension And Mortgage Panic!" video.

@tocreatee5736 a better question might be how much has been pulled out. As far as I know there's Russian money in London property and a few soccer clubs, but the bulk of the Russian money goes through "the London laundromat" on its way to other places like Delaware, Idaho and the Dakotas.
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@Dor Dor Great information. All those people who claim that real estate property always goes up over the long term totally ignore historical FACTS and how it unfolds. I'm Australian and In the aftermath of 2008 a documentary that HAD WARNED 2008 was going to happed was re-aired. In it was a German economist who had housing data for various European cities going back 400-600 years. He pointed out that every 80 (or so) years housing markets collapse almost back to zero. Irrespective of economic system people invariably put money into property it increases in value until it causes a system collapse. 2008 should have reset the Western Economic system and instead we bailed out the banks who then doubled down. Crazier the Chinese followed what the West has done with a real estate boom. In Australia (my country) the main markets of Sydney and Melbourne are now so overpriced that they cannot do anything but collapse. Houses that only 20-30 years ago cost $300,000 are now costing $1.2 million and they are impossible to pay off. Our banks are addicted to the profits from home loans and because interest rates are so low, they have to loan out more money to make the same profits. Its incredibly simple math. The interest on $300,000 at 8% is the same as the interest on $1,200,000 at 2%. This is also why 0.5% interest rate increase is so harmful. Going from 8% to 8.5% on $300,000 is $1,500. Going from 2% to 2.5% on $1,200,000 is $6,000. Its staggering how much people don't understand the practical nature of this symbol -> % Add into that increases in power & water and household spending collapses, WHICH WE ARE SEEING. Our retail market has been under stress for 20+ years. Their incomes are falling as their rents go up because of the higher energy prices. THAT'S EASY MATH. What might save Australia is that we're a massive exporter of raw materials, energy and FOOD. BUT that only works if other countries can pay us.
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We are at the end of the neoliberal era. It should have ended after 2008, but found a way to hang on and we (all 7.8 billion of us) have been in a precarious position ever since. Instead of admitting that the neoliberal economic model where "privatise everything" became a religious dogma that nobody was allowed to question, we moved to an even riskier model because the risk takers that brought the 2008 GFC were simply bailed out without any consequences. After the Stagflation of the 1970s the unions who were blamed for that were ruthlessly persecuted, but NOT ONE Wall St CEO or board members was held accountable after the 2008 GFC. In fact for many they still got their bonuses. Mark Blyth the political Economist at Brown in November 2016 (as part of the explanation behind the protest vote that handed Donald Trump the White House) said "In 2015, Wall Street bonuses, not regular compensation, bonuses, 7 years after they were bailed out with the public purse, totalled...$28.4 billion. Total compensation paid to every single person in this country who earns a minimum wage, $14 billion." What Britain, Australia (where I am), France, Italy, Germany America and other countries are trying to deal with RIGHT NOW is that NONE of our governments did the right thing in the aftermath of 2008. They bailed out the culprits who went straight back to work as if nothing happened.
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@StephenMortimer Actually Liz Truss is a neoliberal wannabe Margret Thatcher clone who wants to give rich people yet another a tax break. There is nothing woke about her or kwasimoddo. Don't get me wrong I'd pack all the woke clowns onto a boat and call the navy in for target practice.
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@Hendreh1 Because in any market that's falling everyone who's bought is losing money and nobody is really interested in buying until it bottoms out. Its what makes is so dangerous to buy stock during a stock bubble or real estate during a real estate bubble. If you can sell before the bubble burst you might be fine. But if you bought just before it bursts you can get wiped out.
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@markymark7803 Well that depends on your definition of "normal" If its the normal social media garbage then I haven't a problem. If you want cringe superiority complex look at your own attitude.
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@markymark7803 Way to prove your nothing but a pathetic social media troll. What have you got to offer as an argument with any sort of brain function? If you're so smart then tell us all what's wrong with what Patrick has said or what anyone else is saying. Sorry but we all know your kind. The failure at the back of the classroom who makes noise because he's got nothing else.
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@omid_tau Not really his department. You'd be far better off making this to the news and or political commentary channels. And if you are so concerned about innocent lives then you'd better go after EVERY other nation on the planet, because at some time or other they have all done something they'd prefer NOBODY examines closely. Right now do you think the Ukrainians haven't killed any innocent Russians? It might not be anything like what the Russians have done but its a war and ugly things happen in wars. I'm Australian and we are having to face up to some ugly parts of our past. Some more recent than we'd like to admit. We were part of the coalition forces in both Afghanistan and Iraq where numerous human rights abuses including the murder of innocents. happened. Even after the abuses at Abu Ghraib and Bagram AFB, as well as the water boarding and extraordinary rendition programs WERE MADE PUBLIC, we stayed beside the Americans. We are also largely silent on other nations that commit human rights abuses because of "political strategies or sensitivities." There's a country I dare NOT mention in the middle east or I might get a label placed on me that has occupied land ILLEGALLY for decades and treated the locals as sub-human. There is almost not a country, cultural group, or tribe on the planet without some very ugly parts to its history. In fact every tribal or cultural group that still exists today had to do something at some point just to survive. There are many peoples we only know about from archeology because they were wiped out by other competing tribes.
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