Originally Posted by
skippy
As I've stated on previous occasions, I believe that GW is happening and that we must attempt to find solutions and change our "unsustainable way of life". This is just my opinion and I know I don't have a hope in hell of convincing any of you lot that I'm right (not that I profess to be either) nor do you have a hope in hell of convincing me that you're right. For that reason I find this thread to be rather useless and all it has managed to achieve is to degenerate to this latest slinging match.
Like it or not, a very large proportion of the world thinks that the USA has a lot to answer for with regards to world politics, wars, etc. I say this knowing the general opinion of my fellow Australians and also the general opinion here in Western Europe. However, show me the clean and perfect nation? There isn’t one! They’re all into it and they all have their snouts in the trough gorging themselves stupid. This isn’t the place for this type of excrement. Remember why we are here at cnczone. Like One of Many sort of said (slightly changed): I go to work and take care of my family needs just like you do so don’t look for someone to pin all the world’s problems on.
As I state above, I believe we have to change our unsustainable way of life BUT: I crossed Spain on the way back from holidays 10 days ago and was surprised to see field after field (hundreds) of solar panel arrays which weren’t there 2 years ago. Each field with say 60 units each measuring say 12m x 6m. Good thing I suppose although for one reason or another I’m not a big supporter of photovoltaic power on a large scale. I’ve since found out that there is a huge subsidy for the actual physical installation and as well as that the government is paying 44c (€) per Kw for the electricity generated which is 10 times the average price the electricity company charges (€0.04). On one side we could say well if this is what’s needed to stimulate alternative energy sources then good. On the other side of things, we have a whole new market with lots of people marking huge amounts of money (component importers, frame and mechanism constructors, installers, field owners who rent out the field,) and then the investors who probably couldn’t give a rat’s aarse about the planet but get paid 10 times the going rate. Question is: Who pays for all this? Good or bad, I don’t know. One could also say that those with the money (investors) get to reap an artificially high benefit which will ultimately be paid for by the average householder via raised electricity tariffs. That’s not to criticise Spain either as I know Australia has a similar program as do many other countries. I wonder if the peak period of electricity produced by solar energy happens to match peak demand period? I doubt it. Carbon credits are another grey (read: shadey) area for me.
97T, regarding the housing crisis we’ll wait to see what happens here in Spain. Quick summary of the rising market syndrome here in Spain: ~41 million people here, plus a huge immigrant population of which many are illegal. 5 years ago there were almost 3 million dwellings empty and the rate of building here is, or at least was until a few months ago more than UK, France and Germany combined where there are about 190 million people. So how was the game played? (A) Person A has some money stashed away so they buy an apartment off the plan at X€ then sell it a year later when it’s ready to live in at X€ + 40%. Thing is that the deeds only get done when the dwelling is actually habitable and therefore never get to go in person A’s name so they get to pocket the +40% without having to pay tax on the earnings. Then they do it again and again.
(B) Person B already has a dwelling where they live but wants to get in on the housing thing so they buy the above dwelling. The bank loans them 100% of the value of the dwelling using the first dwelling as collateral. There’s no need to rent the place out (renting’s a risky business here) because they know that next year this place will be worth at least 20% more than this year.
(C) Couple C are young and only have €3,000 saved. Well in fact they didn’t save it as it was given to them by their parents. They buy a dwelling worth €150,000. Taxes to buy it are say another €22,000 = €172,000 total minus €3,000 deposit = a loan for €169,000 on a place worth €150,000
Now two years later the “real estate prices will never go down” economy suddenly finds that yes prices can go down and in fact one of couple C loses their job due to the downturn in the economy and they are forced to sell their dwelling. Now the dwelling is worth €130,000 but even at that price they can’t find anyone to buy it and their mortgage is for €169,000.
Yes, everything’s wonderful in a rising market. You can’t put a foot wrong. Then one day reality strikes home and everyone realises that you can’t have 4 million empty dwellings and keep building at a rate higher than several other countries put together.
p.s. The other day I saw a post here by a Chinese guy trying to hussle up work as a middleman and I was particularly apalled when he was attacked in what for me was a racist manner. Ashamedly for me, the person that launched the attack happened to be Australian. Fancy blaming a Chinese individual for the woes/effects of Chinese imports in our countries.