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The Banks
Does It Get Any Better For The Big Four?
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nipper
post Posted: Oct 20 2020, 03:49 PM
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In Reply To: Mags's post @ Oct 20 2020, 10:47 AM

kicking the can down the road.
https://www.youtube.com/watch?v=fR4HjTH_fTM.
https://www.youtube.com/watch?v=cqPx7xxx9vw



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
Mags
post Posted: Oct 20 2020, 10:47 AM
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In Reply To: early birds's post @ Oct 20 2020, 10:10 AM

Yes! One of my favourite videos...
But most favourite is this:
https://www.youtube.com/watch?v=u5A4Gw20dcw
All I know is, the youth are stuffed: The relaxing of responsible lending will see house prices scream even higher. -ve geared investors who have 'capped out', will now be able to keep going deeper in the red, borrowing more and more... prices screaming upwards.
Just hold profit spewing stocks, regardless of your instincts: Banks etc should be a terrible hold at the moment, but I'm in. I'm riding them to nose bleed highs, then dumping I'm guessing in 2026-28.
Expect merry hell to be unleashed in the end of this decade.
I've spent years, and a fortune of time and money, studying markets, marketing, capitalism and human behaviour: It really is mostly the same thing. But the biggest change to come is going to be societal: When the welfare well begins to run dry (that's years away, we'll see gov debt to GDP around 300% for this I guess) you'll see the real problems begin: Most people will not know how to survive. What???
By that I mean, every transaction occurs because of a exchange of value: But as I walk/drive/look around, all I see are people with no skills, no abilities, nothing of value to exchange.
Nothing.
Ever tried moving around a westfield car park? Most people can't park a car. How the hell can they produce anything for exchange, with enough profit to sustain them???
80% of households in Australia pay -ve net tax.
They exist and function because the tax payer is subsidizing them. And then there's the personal/private debt they've racked up, 'merely to survive'.
Their whole world is going to be severely impacted when fiat dies. But by hell is there to be the most wild spending (borrowing) orgy in the mean time.



Said 'Thanks' for this post: Pendragon  BobE  rlane  mullokintyre  
 
early birds
post Posted: Oct 20 2020, 10:10 AM
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In Reply To: Mags's post @ Oct 20 2020, 09:34 AM

remember subprime?? GFC?? year of 2008!!
thought they gonna clamp down of these type of printing, but 12 years on they went opposite ...... even create something like
"after pay" really caught me by big surprise , as you said ---fiat system.
i reckon all CBs understand that deflation is created by lower rate for those " sombie production line" [ more competition ] and globalization [ more competition]
they just worried about their pay more than moral financial 101.......
can't beet them.....join them!!

a link that i saved from GFC [ thanks a poster name DANVILLE]

https://www.youtube.com/watch?v=3u2qRXb4xCU

told most of young kids whom study finance----if they can have good laugh for this link then they can graduated from the course !!! lmaosmiley.gif



 
Mags
post Posted: Oct 20 2020, 09:34 AM
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In Reply To: early birds's post @ Oct 20 2020, 08:22 AM

I don't understand afterpay... I mean, the allure of it, and it's brothers, zipp pay etc... But that's a conservative old mind of mine.
The issue I have with afterpay, is it makes EVERYTHING more expensive: The shop is up for 6% or so, straight to APT... so lose 10% to GST, 6% to APT etc etc...
Where's the margin?? Most retail has a net margin of single digits, so afterpay is effectively taking all the margin, while doing none of the work: What a beautiful business.
But then when I go X retailer, and I pay cash, where's my discount??? I want it for 6% cheaper... but they wont do it....
So to me, it really is just an indicator of how far down the fiat currency collapse we are: When everyday items for purchase have a 'debt' surcharge built into the price, you can be guaranteed that the currency is accelerating towards collapse. This is the trend the world over.
We've just seen the most outrageous, and largest 'government' and central bank stimulus's in history: And they have to be big because as the currency begins to die, it takes more and more effort to get the same result.
This is how fiat always dies.
At some point it will take $1 of stimulus (borrowed into creation) to create $1 of real GDP effort.... then as you go past that point, you need $2 of fake new money to create $1 of GDP and on and on it goes, until the people wake up and/or the government taxes are unable to pay the interest due (ie bond payments on the 'created money').
That we need consumers to fund consumption with debt at point of sale is frightening. It confirms everything I've said, the end of fiat is on it's way.
But this will go on for years. You'll soon see the ability to pay for necessities and utilities via debt at point of payment. ie. imagine paying for your health insurance, water, power, gas with after pay: You probably can already, but if you can't, it's on it's way....
At that point, you're paying for what you've already lived, with money you haven't even earned...... That sounds sustainable yeah?
Head down, it's gonna be a grind the next decade, but the first 5 years of the 2020's are gonna be booming, for those willing to ignore their senses and just take the ride.
just make sure you exit before the biggest crash of the last 200 years.



Said 'Thanks' for this post: early birds  mullokintyre  
 
early birds
post Posted: Oct 20 2020, 08:22 AM
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Westpac has partnered with Afterpay on its new digital banking platform, which will allow Afterpay to provide Westpac's transaction, savings and cash tools to buy now pay later customers in second quarter 2021.

“We look forward to working with Afterpay to deliver new products and services,” Westpac CEO Peter King said.

“Afterpay is in a unique position to extend and deepen the relationship with our customers and help them to manage their money more seamlessly through savings and budgeting tools," Afterpay's Anthony Eisen said.

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not sure it is a good move by WBC , but they have to do something to re--start growth , i guess!!
never thought after pay is a good idea but with lower rate for longer.....who knows!!



 
plastic
post Posted: Oct 20 2020, 07:23 AM
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I wonder what other revenue streams are under threat in this period of low interest rates and high leverage against housing.



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What did Uncle Mel do to us?
 

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plastic
post Posted: Oct 19 2020, 07:15 PM
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Where's my loopy mate gone to? We need him to spew his infinite buckets of wisdom over us.

Please loopy, tell us why ANZ are getting out of these services.

We need your guidance.



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What did Uncle Mel do to us?
 
plastic
post Posted: Oct 19 2020, 03:57 PM
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Has my loopy mate got any idea why ANZ is now getting out of forex services?

Iceberg by the looks.
https://www.nzherald.co.nz/business/covid-b...VH7KNUNY6QJTWI/

QUOTE
ANZ says a dive in demand for foreign exchange cash caused by New Zealand's border restrictions is behind its decision to stop buying and selling foreign cash.

The country's largest bank will stop buying and selling foreign cash from November 13 but will still accept cheques in foreign currency for now.

In a statement on its website the ANZ said border restrictions due to Covid-19 had seen demand for foreign exchange cash transactions fall significantly in recent months.

"As customers are well-served by other alternatives, including specialist providers and the ability to withdraw local currency from overseas ATMs, we have taken the carefully-considered decision to discontinue foreign exchange cash services in our branches."





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What did Uncle Mel do to us?
 
plastic
post Posted: Oct 17 2020, 07:38 AM
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In Reply To: plastic's post @ Oct 15 2020, 05:56 PM

Who'd you say was the dummy loopy?

Stop spewing bile and soothe the hurt with a Gaviscon.

https://www.americanbanker.com/list/the-ban...l-dominate-2020

QUOTE
The banking tech trends that will dominate 2020




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What did Uncle Mel do to us?

Said 'Thanks' for this post: irish  
 
plastic
post Posted: Oct 15 2020, 05:56 PM
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In Reply To: plastic's post @ Oct 15 2020, 04:52 PM

Loving it. Spew that bile my loopy mate.
https://techcrunch.com/2020/08/03/google-si...-to-google-pay/

QUOTE
[/qu<h1 class="article__title">Google signs up six more partners for its digital banking platform coming to Google Pay</h1>





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What did Uncle Mel do to us?
 
 


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