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  1. #61

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    Quote Originally Posted by Courham View Post
    Maybe for the same reason, black people don't like being called darkies. Some 80 year old colonialists still probably think it is okay, the rest of us have moved on. My nana wasn't being racist in her mind when she talked of people as being darkies, doesn't make it okay today though.

    As for Japs, the term does go back to the dehumanising of the Japanese during WWII by the allies but don't want to open that can of worms over Japan's role in the war either.

    Nick makes a good point, if you know a term may cause offence, why continue to use it and paint yourself as a casual racist?

    Craig
    Paint myself as a casual racist because i asked why the term is offensive... you're painting yourself as fully ignorant by calling someone racist for asking for information.

    Sounds like you don't even know why the term is offensive... nor do i.

    I'm no expert on war history but i'm pretty sure there were some awful things done by and to the Japanese in various wars but mainly WWII... i find it amazing that top of the list that causes offence is name calling.

    As I've also previously stated, I'm actually a big fan of Japan and many many of the Japanese people I've met... you chose to ignore that part of my posts in favour of getting on your soap box to shout me down as a racist. You should feel great about yourself.

    Your comment that if you know a term may cause offence why use it - in this day an age, there is offence and outrage at almost everything so based on your assessment of what we should or shouldn't comment on maybe we should all just sit in silence.

  2. #62

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    I don't know when the term started to be considered offensive... but I do know the Japanese don't like it a lot and I don't necessarily feel entitled to split hairs over it. Regardless of the background, use of the term today is considered an ethnic slur.

  3. #63

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    Quote Originally Posted by Nick G View Post
    I don't know when the term started to be considered offensive... but I do know the Japanese don't like it a lot and I don't necessarily feel entitled to split hairs over it. Regardless of the background, use of the term today is considered an ethnic slur.
    Thanks Nick - i find it really interesting. Was it a slur used primarily by the US? I ask because the first time I went to Japan I was in Osaka I think and I surprised (shocked actually) how they have taken on US culture - there was a part of the city where you could have thought you were in a US town, American style bars, baseball on big screens - I remember thinking that the US had done the worst thing possible- dropping multiple Atomic bombs on this country and they have let it go and embraced them/their culture.

    I would have thought the dropping an atomic bomb might be the thing they're sensitive about/hold a grudge over rather than a nick name.

    put another way, if I had an altercation with 2 different people, one called me a name, the other jumped me and beat me with a cricket bat then years later I found out who they were - I know I would likely not care about the name calling but not sure I'd be so forgiving over the beating.

    Maybe that's over simplifying it

  4. #64

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    Okinawa is a bit like that because the military personnel there have disposable incomes :-)

    Also "Jap" is a racial term. I speak excellent Japanese and even if I'd been born there it would never be used on me. Kiwi is a cultural term, we use it to refer to those who live here.

  5. #65
    Join Date
    Sep 2008
    Posts
    7,157

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    after living there longer than most of you

    i can tell you the biggest whingers over the term are not japanese

    the issue is that both the terms that the pc hate

    japs + nips

    are actually also abbreviations of longer names in typical slang fashion

    ie - japanese = japs

    nipponese (what they call themselves) = nips

    both were ww2 abbreviations unlike proper derogatory terms like krauts + squareheads, or frogs

    which can never argued to be abreviations

    obviously i don't use either nip or jap with my wife or children due to the derogatory nature they gathered during ww2 us

    but i never got upset when japanese people called me

    gaijin - outside person

    or

    hakujin - white person

    techincally correct but un-pc in some circles


    or other seemingly silly things like my "nose was too high", my head too small. legs too long

    look for commonality people

    not difference

    1 brings you together

    the other forces you apart

    htfu
    Last edited by eri; 13-10-2017 at 07:00 PM.
    have you defeated them?
    your demons

  6. #66

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    Quote Originally Posted by Scouser View Post
    On p2p lending

    The rates are modified to take in to account the analysed risks - they used historical figures out of the UK and US to calculate these and then adjusted them over the last couple of years to reflect what has happened in the uk. I've been doing it for a couple of years now with Harmoney (they have the largest volume of loans). By definition it's highly diversified e.g. $10k would typically be across up to 400 separate loans. Default rates are fairly high but the interest rates are high to reflect that - some people take loans out at 30% interest rates! The historical returns for retails investors are closer to 13% - I get a smidgeon under that. Harmoney have just dropped their interest rates and may also be prosecuted for their fee structures (long story) - the net result would be an effective reduction in to rates for the investor - at a guess about a per cent. We also haven't seen p2p lending in NZ in a recession as I would expect the returns to drop by 2-3 per cent based on what has happened in the past in the UK and US but the lender then adjusts everything to reflect increased defaults so that tends to be a problem for about 6-12 months. Your money is tied up for either 26 or 60 months but there are constant repayments so there is always money coming back. If you don't use the Automated loaning features it's a bit of hassle as you have to log on once a week to re-invest returned $. If you've got the time to manage it then it's worth putting SOME of one's funds there.
    I read about P2P for the first time in this thread a few days ago and I became interested. I've just put together a spreadsheet to assess each risk level that they offer (i.e. A1 to F5), the different interest rates they charge borrowers at those levels/and interest payments I'd earn if I lent to loans in each risk level, while deducting their estimated defaults and service fees (they charge 20% on interest earned). I did this for both the 3 year loans and 5 year loans to come up with a ROI (per annum).

    For 3 year loans in the A1-B5 groups (low risk) I'm only seeing bw 3.6-8.2% ROI. C1-D5 (mid risk) bw 8.7%-11.9%, E1-F5 (high risk) bw 9.7-12.8% ROI. Given that they are new, in court at the moment, I'm not wanting to lock my money away for too long at the moment, and because there's a bit of effort involved on my behalf, I'd be wanting to do the 3yr loans, but the rates offered along with the risk involved are less appealing than the initial glance at the prospect of P2P. I guess, if I structured over different risk levels with 3yr loans, I might get 9-10% ROI.

    The calculations do look better for the 5yr loans, but for the above reasons I don't want to put money into Harmoney for that long. A1-B5 groups (low risk) I'm only seeing bw 6.2-14.4% ROI. C1-D5 (mid risk) bw 15.4-21.6%, E1-F5 (high risk) bw 21.4-24.2% ROI.

    I just thought to write this here now since I've spent a few hours looking into this.

  7. #67
    Join Date
    Sep 2008
    Posts
    7,157

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    interesting

    thanks
    have you defeated them?
    your demons

  8. #68

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    Quote Originally Posted by deechnz View Post

    The calculations do look better for the 5yr loans, but for the above reasons I don't want to put money into Harmoney for that long. A1-B5 groups (low risk) I'm only seeing bw 6.2-14.4% ROI. C1-D5 (mid risk) bw 15.4-21.6%, E1-F5 (high risk) bw 21.4-24.2% ROI.
    Actually, I had a simple error in my spreadsheet for the 5yr loans when calculating ROI pa- I was still dividing the profits by 3 (as is 3yr year loans), not 5. So the ROI (pa) for 5 year loans (after fees and defaults are taken into account) as not that different to the 3 yr loans:

    A1-B5 groups (low risk) bw 3.7-8.6% ROI. C1-D5 (mid risk) bw 9.2-12.9%, E1-F5 (high risk) bw 12.8-14.5% ROI.

    compared with 3yr loans:
    A1-B5 groups (low risk) bw 3.6-8.2% ROI. C1-D5 (mid risk) bw 8.7%-11.9%, E1-F5 (high risk) bw 9.7-12.8% ROI

  9. #69
    Join Date
    Jul 2017
    Posts
    163

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    Quote Originally Posted by WINZ View Post

    I disagree with the concept of a soft-landing. I haven't seen many examples of this in all of my time studying markets, nothwithstanding i've spent a lot less time studying markets. This is largely a myth propulgated by politicians, economists and central bankers. Just look what happened to Ireland/Spain in the wake of the GFC..

    Soft landing is really a term commonly used by economists and politicians when describing an economy when referring to slowing GDP growth.

    Soft landing is not a term you would apply in reference to market pricing in free financial markets, and certainly not a term used by financial market participants in that context.



    Quote Originally Posted by WINZ View Post

    What they fail to realise is that house prices are ultimately set by the marginal buyer in a bear market. If buyers stop purchasing then eventually the sale price will drop in order to align with buyers expectations as there are always an element who need to exit.
    Absolutely agree with you. When market prices are falling, confidence by buyers falls and if there are large numbers of urgent sellers (due to time pressure, urgency, financial pressure, etc), then there can be a market liquidity vacuum due to the absence of buyers as many buyers become fearful and wait on the sidelines, and urgent sellers overwhelm the number of buyers.

    Given that the most recent comparable transaction price is the commonly used valuation metric for residential property, it is the marginal transaction price that becomes the comparison price for the rest of the neighbourhood.

    Banks may use this lower transaction price to value the collateral on their loan portfolios, and if LVR's are too high, the banks may request additional collateral for the loan from the borrower. I heard of a story from the early 1990's from a former commercial banker where even though a borrower was current on all their payments, the lending institution requested full repayment of the loan and asked the borrower to refinance with another lending institution as the loan value exceeded the collateral's market value (and the institution was exiting lending) - the issue was that the collateral's market value had fallen below the loan amount and the borrower could not get a loan to refinance the full amount owing to the original lender.
    Last edited by Chris W; 23-11-2017 at 03:12 AM.

  10. #70
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    7,829

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    I heard of a story from the early 1990's from a former commercial banker where even though a borrower was current on all their payments, the lending institution requested full repayment of the loan and asked the borrower to refinance with another lending institution as the loan value exceeded the collateral's market value (and the institution was exiting lending) - the issue was that the collateral's market value had fallen below the loan amount and the borrower could not get a loan to refinance the full amount owing to the original lender.
    Many, many loans were called in after the 87 crash. And payments were being made.

    And the banks sold the assets at very low prices, just enough to get their money out.

    But whether this will happen again is another thing.


 

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