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May 10, 2024 06:49
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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Now I've heard the term "gangbang" used on insiders.
Strange days we live in.
I've heard the next leadership spill being described as a three way.
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Mar 1, 2015 00:02
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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I think the best Abbott could hope for at the moment is a rash on his forehead from Brandis' shaved ball sack while he's stuck at the bottom of the stacks on.
My Breasts
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Mar 1, 2015 00:24
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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quote:
Good posting starts today
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Mar 1, 2015 10:31
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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Greg Sheridan is Avshalom?
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Mar 1, 2015 11:02
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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get the gently caress out, i love marijuana and communists
You also love prime ministers
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Mar 1, 2015 11:10
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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Excuse me Cliev wtf are you doing?
quote:
The Palmer United Party's two senators, Glenn Lazarus and Dio Wang, will abstain from voting on government legislation indefinitely, according to party leader Clive Palmer.
In a statement released on Monday, Mr Palmer said it would be irresponsible for the party to vote on any legislation until government "chaos" had ended.
"The government's proposals seem to change daily," Mr Palmer said.
"The policies are not consistent, party infighting and conflict is ongoing and as a result our party has decided as a bloc to abstain from voting on any legislation proposals."
Fairfax Media is seeking clarification on the party's position. If the abstention refers to PUP senators not attending any Senate votes - rather than voting down any government bills - then this would likely make it easier for the government to pass legislation.
Only days ago Mr Palmer vowed that his party would vote against any attempts to introduce a co-payment for Medicare services and he has said repeatedly that PUP would vote against the deregulation of university fees.
According to the Odgers' Australian Senate Practice manual, Senate votes are decided by a simple majority of those present and voting on bills before the Senate. Senators who wish to abstain in a vote can do so only by absenting themselves from the floor of the chamber.
Former PUP Senator Jacqui Lambie has vowed to vote down any government legislation until it improves its pay rise offer for Defence personnel.
http://www.smh.com.au/federal-politics/political-news/palmer-united-party-senators-to-abstain-from-voting-clive-palmer-20150302-13sfnt.html
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Mar 2, 2015 02:23
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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Paging Endman
quote:
Wickr app: The ‘Snapchat for grown-ups’ that federal politicians are using to ‘secretly discuss leadership’
IT’S been called Snapchat for grown ups and it may just be the tool that could bring down the Prime Minister.
Staying true to his portfolio, Malcolm Turnbull, the Communications Minister once credited for “practically inventing the internet”, has enlisted the services of a selfdestructing messaging app you might not have even heard of, The Australian reports.
Mr Turnbull, Scott Morrison, and other politicians implicated in the February leadership-spill-that-wasn’t, are reportedly using Wickr — a secret agent-style messaging app that sells itself on a guarantee of metadata-free messages and anonymity.
The app, described by one of its founders as designed for “very high tension situations, where if information gets out ahead of time, people could get hurt”, has reportedly been used by Mr Turnbull, Mr Morrison, and other MPs such as Alex Hawke to discuss the Liberals’ leadership crisis and “movement in numbers” around support for Tony Abbott.
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Mar 2, 2015 02:57
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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RBA meeting tomorrow.
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Mar 2, 2015 12:13
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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Three people dead in shooting at house near Toowoomba
Updated 12 minutes ago
MAP: Toowoomba 4350
Three people are dead following a shooting at a house on the Darling Downs, west of Brisbane.
It is understood police were called to the property in Biddeston, near Toowoomba, by paramedics at 6:55pm.
Officers then waited for back up before entering the building.
"I can confirm three people are dead from gunshot wounds," a Queensland Police Media spokesman told ABC News.
"There is no immediate threat to anyone in the area."
Police will remain at the scene through the night.
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Mar 2, 2015 12:19
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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ASIO drops the ball on terrorism again.
If only they had the metadata.
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Mar 2, 2015 12:25
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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Screw It I can't take any more. I must declare my undying love for Peta Credlin
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Mar 2, 2015 12:44
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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quote:
The dumbest bubble in history
With warnings suddenly flying thick and fast, the history of bubbles has never seen the likes of what is unfolding in Australian property now.
Some bubbles have sprung from unlikely sources such as tulips. Others have inflated around bright ideas that held little reality such as the South Sea Company. In stock markets bubbles have certainly been destructive but equity can handle that and they have also left historic legacies of technological advancement. The Roaring Twenties was one, built upon expanding railroads. The millennial tech bubble was another, launching the internet.
On the other hand, history’s dumbest bubbles have all been in property prices. Pick your example – US, Ireland, UK, Spain – these leave nothing but economic waste in their wake. Banking systems are wrecked, savings are destroyed, and no lasting legacy is built in the real economy except an overhang of useless debt.
So what makes Australia’s current property bubble so unique? Three reasons.
First, no other property bubble has ever had such a clear warning in advance of its blowoff. Just six years ago, the world writhed as a multitude of property bubbles spectacularly imploded. We saw it and it scared the bejesus out of us. Yet here we are, well short of a half generation later doing exactly the same thing.
Second, we have only just had the same long term property bubble bailed out by the biggest mining boom in history. Post GFC we rebuilt denuded savings and reliquified banks as mining poured billions into projects and jobs, while international markets collapsed all around. The serendipity was gigantic, easily big enough not just to protect us from the GFC but to redefine the basis of the economy towards sustainable prosperity for generations. But instead of being grateful and prudent we succumbed to the hubris of exceptionalism.
Third, the deteriorating economic circumstances of the commodities bust that we currently face have been obvious for three whole years (if not all along). We knew the boom was narrowly based in China. We understood the magnitude of investment. We knew the size of the supply expansion. We knew prices were going to fall a long way. We knew a capex cliff was coming. But authorities did nothing to prepare for the end point except to deliberately reinflate a housing bubble supposedly to float us blithely over the carnage.
Certainly the history of capitalism has seen bigger bubbles than Australian property. There have been stranger bubbles too.
But none is more dumb.
http://www.macrobusiness.com.au/2015/03/dumbest-bubble-history/
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Mar 2, 2015 22:41
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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Goodnight sweet prince
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Mar 3, 2015 00:31
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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I refuse to believe that someone who has murdered a 3 year old is literally driving around a big white van with peddo's on the front.
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Mar 3, 2015 06:49
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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PM: Australia-New Zealand troop deployment to Iraq has parallels with Anzacs – politics live
Hahahah goddammit tony dont say that in front of the troops!
Finally sorting out that Ottoman empire eh?
Goddamn usually this sort of thing doesn't happen with judges until senility has set in.
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Mar 3, 2015 07:27
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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RIP both of you, killed by marauding trees.
If trees are killing you, you're probably in the wrong, and possibly the Uruk-hai.
Some people have strange ideas about causality. Personally i blame Henry Ford for inventing the motorcar.
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Mar 3, 2015 08:42
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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quote:
Hockey orders sale of $39m Point Piper mansion Villa de Mare for FIRB breach
China’s 15th richest man has 90 days to sell one of Sydney’s finest homes, at whatever cost, or face the prospect of prosecution.
The $39 million Point Piper mansion Villa de Mare was sold last year in contravention of existing laws that prohibit foreigners buying property without government approval, Treasurer Joe Hockey said.
The grand home, once owned by recruiter Julia Ross, was bought by Golden Fast Foods, a holding company ultimately owned by Evergrande Real Estate Group under Xu Jiayin, who is known as and for having strong connections to the Chinese Communist Party and former party premier Wen Jiaobao.
All foreigners require prior approval to purchase residential real estate, and only temporary residents are permitted to acquire existing properties. The purchase of an established dwelling is conditional on a foreigner selling the property when they leave Australia.
FIRB staff spent months investigating if the purchase complied with the law.
“The rules are straightforward,” said Brian Wilson, the Foreign Investment Review Board chairman. “It’s an existing property you have to be either a resident, or a citizen or a temporary resident. You can’t be a foreign investor.”
Mr Wilson said the property’s owner, who he declined to name, was “on a number of occasions” given the opportunity to prove to FIRB that he had complied with the law.
“As with any government decision such as this you give the person natural justice. These things aren’t done as a knee-jerk reaction.”
SALE IN 90 DAYS DIFFICULT
A rushed sale of the sprawling harbourfront mansion might be difficult. Recruitment magnate Julia Ross sold the home on 1508 square metres in October 2014 after a wait on the market of more than two years.
The sale set a new non-waterfront record in early October for the 1508 square metre home with a pool and Mediterranean influences.
Ms Ross, the now London-based entrepreneur, almost doubled the $21.5 million she paid a decade ago for the sprawling home, when it set the previous non-waterfront record.
In the first forced divestment of a property since 2007, the owners have 90 days to sell it or face referral to the Commonwealth Director of Public Prosecutions.
A parliamentary inquiry recently found there had not been a single prosecution of a foreign investor since 2006 and no divestment orders since 2007.
Mr Hockey said the owners would have to accept the best price offered within the timeframe. He promised new fees and penalties last week to enforce the existing law but these are not yet enacted and forced divestment of the mansion has been ordered under existing law.
“Golden Fast Foods is a foreign-owned company which failed to notify FIRB of its intended purchase,” Mr Hockey told Parliament Tuesday.
DEVELOPER WORTH $7.6B
Xu Jiayin is worth of $7.6 billion, according to the Hurun Report. He is the founder and chief executive of Evergrande Real Estate Group, one of China’s largest apartment developers.
He is known for his strong connections to the Communist Party, including the brother of former Premier Wen Jiabao.
“It was bought by a company, registered in Australia, which warranted it did not need FIRB approval,” said Christies agents Ken Jacobs, who sold the house in conjunction with the principal of LJ Hooker Double Bay Bill Malouf.
Golden Fast Foods, which includes Evergrande’s executive director Huang Xiangui and Sydney-based accountant Stanley Brogan as directors, now has 90 days to sell the home otherwise they will face prosecution and possible jail terms.
State property records list the buyer of Villa de Mare as Golden Fast Foods Pty Ltd, a Chatswood-based company headed by Stanley Brogan and China-based directors Han Xioaran and Huang Xiangui. Mr Huang is Evergrande’s executive director.
Media reports at the time of the sale in early October 2014 said Mr Xu was in Australia and scouting for hotel investment opportunities in addition to a harbour-front home.
‘DISTORTING THE MARKET’
Local real estate agents have applauded the decision.
“I think its fantastic,” Melbourne-based buyers agent David Morrell said. “These types of purchases are pushing prices up and its distorting the market.”
Mr Morrell points to two Melbourne sales on the weekend just past, in which two homes in Hawthorn sold for more than $1 million above reserve and $800,000 above reserve, respectively.
“Sometimes it feels like you’re bidding with your hands tied behind your back because you know you’re not bidding in the same dollar terms as the [foreign] competition,” he said, adding that the recent drop in the AUD had spurred on a new wave of confidence among foreign purchasers.
But Mr Morrell is sanguine about the impact that one forced divestment will have.
“So many sales have already gone through under the radar,” he said.
Another Sydney-based agent talking on the condition of anonymity argued that the move would have a large impact on top-end buyers who hire the best accountants and lawyers to ensure their purchases are legal and compliant with the law.
“This will create some anxiety,” they said.
The Villa de Mare sale came at the same time a swag of well-heeled Chinese businessmen were buying up other trophy homes in the harbour facing strip.
Zeng Wei, the son of China’s former vice-president Zeng Qinghong, owns 73 Wolseley Road, where he and wife Jiang Mei are in the process of building a modern home by architect Gergely and Pinter.
The princeling spent $32.4 million six years ago to secure the home known as Craig-y-Mor, which businessmen including Chris Corrigan, Rene Rivkin and Ben Tilley formerly owned. Demolition works began in May. The family is expected to move back into the new home by 2015.
Other Chinese purchasers in the area include chairman of global textiles group Shandong Ruyi, Qiu Yafu, who paid around $34 million in May 2013 for a home known as the “Bang and Olufsen” house on Wolseley Crescent.
Mr Qui is the major shareholder in Queensland’s Cubbie Station.
FIRB RULES CLEAR
Asked if FIRB would announce more cases where the law had been breached, Mr Wilson said it was “entirely possible”.
He said the 90-day period set down for the divestment of the property was compliant with the law.
Asked if the action could lead to any legal action from the purchaser’s layers and accountants, Mr Wilson said: “Anyone is always entitled to try and get a law case up. I think the law on foreign investors owning established residential properties is pretty clear and it’s been pretty clear for decades.”
“Every now and then one [case] comes along that’s just plain contrary to the law,” he said. “I wouldn’t like to say anyone went out to deliberately flout out the law. Whatever the motivations were, the law was not complied with.”
“Every case that has come to FIRB’s attention is investigated,” Mr Wilson said.
“FIRB does have limited resources and to actually chase down a property in terms of its ultimate owners is quite resource intense. It takes a lot of work and more often than not – in the vast majority of cases – we’ve determined the properties have been properly acquired.”
http://www.afr.com/p/national/hockey_orders_sale_breach_point_4vfndyC0uTrYvcShhGyu8M
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Mar 3, 2015 08:51
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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I thought you lived in a kibbutz or something
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Mar 3, 2015 09:29
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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What does the ALP stand for?
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Mar 3, 2015 10:02
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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I lolled
Put bluntly, any access to power and money provides an incentive to be an arsehole. I think it was Chris Not A Dogfucker Kenny who said "I write for the Australian therefore it must be the ABC's fault".
I was hoping no one would post that.
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Mar 3, 2015 10:10
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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vaccinations cause autism
hosed up if true
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Mar 3, 2015 10:40
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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So commit suicide Tony Abbott, you know.
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Mar 4, 2015 02:18
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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What are the odds of him going to jail for longer than an indigenous teenager who steals his third mars bar from a Darwin corner store
I know this a reference to mandatory sentencing in the NT, but can you remind of the story of that kid?
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Mar 4, 2015 02:32
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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There was recently a case where a young indigenous man spent the weekend in jail, and afterwards, nobody could work out why.
hosed up if true
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Mar 4, 2015 02:42
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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quote:
Joe Hockey on the national accounts figures.
This is the strongest outcome for household consumption in three years. Household savings continued to drift down from higher levels as consumers become more confident. Housing investment rose by 2.5% in the quarter to be a remarkable 1% higher than it was a year ago.
kill yourself
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Mar 4, 2015 02:55
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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quote:
Real estate agents bewildered by forced sale of $39m Sydney mansion
The forced sale of a $39 million Sydney mansion has left local real estate agents bewildered and prompted concerns about how it will impact the market.
On Tuesday, a Hong Kong-owned business was ordered to sell Villa del Mare within 90 days, five months after it was purchased.
One real estate agent told the ABC that 50 per cent of homes with a harbour view worth over $5 million are now purchased by people of Chinese descent and it is difficult to know if they are Australian citizens or foreign investors.
The palatial mansion on Wolseley Road in Point Piper has sweeping views of the Opera House and Harbour Bridge, and was sold by recruitment entrepreneur Julia Ross to a company called Golden Fast Foods.
But the sale was deemed illegal because Golden Fast Foods is controlled by Hong Kong Property billionaire Hui Ka Yan.
The co-agent for the sale, Bill Malouf from LJ Hooker Double Bay, said the intervention of the Federal Government yesterday left him bewildered.
"We asked [the purchaser] if this was subject to a foreign investment review board ruling but were told it was to be purchased under an Australian company structure," he said.
"We have had no calls from Treasury questioning the sale.
"There were two lawyers involved and a major accountancy firm."
Mr Malouf said he and his co-agent were yet to speak to the purchaser about how he planned to meet the 90-day deadline to sell the property or risk having it repossessed by the Commonwealth Department of Public Prosecutions.
"Putting 90 days on a top-end sale is a bit ridiculous," Mr Malouf said.
"Sometimes it can take 12 or 18 months to sell. It depends who is looking at that level."
Mr Malouf said he did not believe that foreign nationals are playing a role in inflating prices for prime real estate.
"There have been more sales to local Australian buyers. They do not over bid," he said.
"We are now getting a lot of interest from expats because the Australian dollar has dropped."
Another real estate agent, Steven Zoellner of Laing and Simmons Double Bay, had a different view.
"[For] every house worth over $5 million with a view - one in two buyers are Chinese," Mr Zoellner said.
"It is hard to know who is actually an overseas buyer. You only find out if they need to get FIRB (Foreign Investment Review Board) approval.
"The sales we have made have are, as far as we know, to Australian residents."
Mr Zoellner said the surge in interest from Chinese investors had come over the past two years and contributed to a "very slight" increase in eastern suburb property prices.
However Mr Zoelner said low interest rates are the main driver of burgeoning residential property prices.
"Properties below $1.5 million are the most popular and have had the biggest price increases," he said.
Treasurer Joe Hockey told Parliament yesterday that the Government was "very serious about integrity in our foreign investment system".
Mr Hockey and Prime Minister Tony Abbott last week announced a raft of changes to laws that govern the ability of foreign buyers, temporary residents and non-residents, to purchase Australian residential property.
Unveiling the key contents of a consultation paper, Mr Hockey said the proposed measures were designed to restore confidence in a foreign investment review system that had not prosecuted anyone for breaching the rules since 2006.
Mr Hockey made the Villa del Mare order before Question Time on Tuesday after receiving advice from the government solicitor.
"We welcome foreign investment. It is hugely important," Mr Hockey said.
"But it is vitally important that every Australian knows that the rules relating to foreign investment are going to be enforced."
http://www.abc.net.au/news/2015-03-04/agents-bewildered-by-forced-sale-of-39m-sydney-mansion/6279270
Anyone wanna kick in a few dollars for the Auspol Mansion?
I would blow Dane Cook fucked around with this message at 05:09 on Mar 4, 2015
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Mar 4, 2015 05:06
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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The Guardian article is awesome, and by awesome I mean that I want to cry.
Simpson is right, it's wrong of women not to respect that men want to keep the patriachy to themselves.
It's like reddit in real life.
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Mar 4, 2015 06:09
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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Can someone please make a FDOTM loss edit?
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Mar 4, 2015 06:49
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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You've found your calling. You're going to be employed as a real estate agent.
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Mar 4, 2015 07:18
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- Adbot
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ADBOT LOVES YOU
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May 10, 2024 06:49
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- I would blow Dane Cook
- Dec 26, 2008
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Can't post for 10 hours!
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quote:
Unstable land needs firm foundations
Prosper usually looks at macro economics yet a micro example of what can go wrong in the property market – very, very wrong – might aid your concentration.
Andrew, a Sydney ‘investor’ bought properties in Mackay and Blackwater Queensland, “when rents were crazy and out look was bright (sic).”
He posted his entirely credible dilemma on the Somersoft property investor forum.
He paid $495k for a Blackwater rental returning $49,400 pa gross – a hearty 9.9 per cent. Blackwater houses workers at the BMA and Curragh coal mines. With coal prices in the doldrums and layoffs creating plenty of vacancies, agents now value the property at $200k and estimate its rental potential at 18,200 pa gross. The property carries a mortgage of $475k at 4.89 per cent interest or $23,200 pa.
Andrew’s other property in Mackay cost $485k for a passing rent of $36,400 pa, or 7.5 per cent. Now, it is worth $380k and market rents are around $10,400 pa gross. The property carries a mortgage of $450k at 4.89 per cent interest or $22,000 pa.
Violent re-pricing indeed.
Rule of thumb says direct costs, rates, land tax, etc, would be half the gross, certainly on the later rents. So his net rents of around $29,000 support an interest cost of $45,200 pa, or a net loss of $16,200 pa, assuming nil vacancies.
Clearly unhappy with his position, Andrew wants out. He faces a loss of $70k on the Mackay property and $300k on Blackwater if he sells. I suspect these figures disregard Stamp Duty and other transaction costs.
He says, “I have a house in Sydney that has about $500k equity. My mum lives with my family who has contributed into this purchase so selling this property is not an option.”
That equity isn’t his to risk in support of his rental investments. Mum and family would be unimpressed with the idea of selling Baulkum Hills for a Queensland adventure.
“Will this get worse???” he asks plaintively.
His horror story is being repeated all over Queensland and Western Australia. Goaded into action by an army of spruikers in an anecdote-rich, fact-poor media, a naive investor class saw stellar yields and paid a seemingly reasonable capitalization. He thought he won the lottery, when in fact the winner was the vendor.
Little can be done for Andrew and his very hard life lesson.
Yet there is an insight available in what government can do in a volatile land market.
Andrew pays State Land Tax on both Queensland rentals. Valuations are conducted every two years, which softens his liability on the way up but doesn’t retreat nearly quickly enough in a falling market. In an era of wild land price gyrations, government should step up to annual valuations, both to moderate the rise and ease the fall. While this sounds like I am recommending annual revaluation of every parcel of land in the country, it is entirely possible to value half each year and interpolate the rest. SLT already piggy-backs on council valuations, so this is a cost-less exercise.
Land tax is a powerful automatic stabiliser, if we use it properly.
The investor frenzy in Sydney would be less if their bidding up of land prices was immediately transmitted into higher SLT. Dizzy buyers would get a good kicking from existing owners for driving up their costs, rather than the slap on the back for increasing values.
- See more at: http://www.prosper.org.au/2015/03/04/unstable-land-needs-firm-foundations/#sthash.hmqTpSIQ.dpuf
I would blow Dane Cook fucked around with this message at 10:43 on Mar 4, 2015
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Mar 4, 2015 10:41
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Feb 28, 2015 23:34
