Are you copyrighting “Homer’s Razor”? It could be a good idea before it takes off.

Gee homer, I’m shocked, fallen outta my chair shocked it wasn’t a uniform fall in real estate prices. Who would ever have guessed it wasn’t “uniform”.

you say there was a credit crunch however you cannot provide any evidence that banks could not get capital.

Exactly what capital was available to the State bank of Vic, State bank of SA, State bank of WA.

There was no capital for ANZ and Wetpatch either for a while and they were on RBA life-support until people could get a handle on how large the losses were. Of course there was a credit crunch, you dope. Their TCE crashed through the floor.

We got a stimulus and it succeeded.

It’s failed dismally.

you say there was a credit crunch however you cannot provide any evidence that banks could not get capital.
whereas in the GFC even with a full government guarantee it took yonks for any banks to get financing.

Yes it was but a mere recession that needed no stimulus although under Sinkers definition there would have been one anyway.

this time round the GFC and credit crunch meant monetary policy response was limited.

We got a stimulus and it succeeded.

Homes prices fell in that recession. There was a credit crunch and yet we didn’t need a pink bat stimulus to get us out of it.

A credit crunch is when banks cannot get capital which happened quite recently.
Any bank could get capital back then.

no only a few building societies ( such as Pyramid)crashed most were quite healthy because they mainly lent to housing.

no the Victorian Government wasn’t close to default at all.
you weren’t around. plenty of people were buying Victorian Government semi-governments securities.

produce some evidence instead of your constant ravings

early 90′s

3 state banks crashed. Anz and Wetptach trading at a huge discount and Tangible common equity crashed. Requiring significant recap.

Building societies falling like flies.

Various state government almost broke and close to default. See Vic.

And you’re suggesting we had no credit crunch in the early 90′s. You really are a freaking loon.

people were actually trading in IOU’s, you pathetic dazed loon.

Go away. Get back behind the garage AND stay there.

Banks could gain access to capital markets any time they wanted to which is something they couldn’t do in the credit crunch.
We get out of the recession when interest rates fell and housing grew. Who was lending to housebuyers?

golly the lending to housing was how much?

but Forrest said the banks were on their last legs and couldn’t lend?

have another chocolate

Sinkers your figures are very misleading. If you are going to use figures from the OECD then learn what they contain.

There was no credit crunch which then turned into a GFC
moreover interest rates had a long way to fall in Australia.
In other words err no comparison.

Are you out of your mind stupid. We had the banking system on its last legs and you’re suggesting there was no crddit crunch.

Someone, anyone. Please get the medics to homer, as he needs serious observation for mental disturbance issues.

I’m hereby immediately invoking Homer’s razor which is:

When homer/debbie makes what seems to be a malicious comment it’s more likely to be driven by the sheer force of the onset of middle-age retardation.