GalahOnTheBay said...

I don't understand why people have shares, the market now has nothing to do with raising capital any more, and everything to do with speculation, fear mongering, manipulation and profiteering.

I had this realisation last night while watching 'The Block', but obviously for property. I realised this when the contestants were asked to value other Melbourne properties, and their only basis seemed to be what they thought a similar place would sell for plus a few hundred grand for the sake of it.

It just dawned on me that people only want to buy a place, on the basis that they will be able to sell it for a windfall profit in a few years. Not to live in until they die of old age, but to sell to some other sucker in a few years.

When people realise that there is no sucker willing to pay more than the cost of the purchase, including the interest, stamp duty, and other costs, will they stop buying? If they stop buying, what happens to the price and value of these houses?

I hope people realise slowly, because if everyone realises it at the same time...

Looks like investing in windsurfing gear is returning pretty good at the moment....relatively

Its back above parity now. And this mornings 5% market drop is now a very small gain. Serious craziness going on.

Just how bad is the financial status of the USA?


The Recession has hit everybody..... I got a pre-declined credit card in the mail. Wives are having sex with their husbands because they can't afford batteries. CEO's are now playing miniature golf.
Exxon-Mobil laid off 25 Congressmen..
A stripper was killed when her audience showered her with rolls of pennies while she danced.
I saw a Mormon polygamist with only one wife.
If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them.
McDonald's is selling the 1/4 ouncer.
Angelina Jolie adopted a child from America .
Parents in Beverly Hills fired their nannies and learned their children's names.
My cousin had an exorcism but couldn't afford to pay for it, and they re-possessed her!
A truckload of Americans was caught sneaking into Mexico.
A picture is now only worth 200 words.
When Bill and Hillary travel together, they now have to share a room.
The Treasure Island Casino in Las Vegas is now managed by Somali pirates. Congress says they are looking into this Bernard Madoff scandal. Oh Great! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear!
And, finally I was so depressed last night thinking about the economy, wars, jobs, my savings, Social Security, retirement funds, etc., I called the Suicide Hotline. I got a call center in Afghanistan , and when I told them I was suicidal, they got all excited, and asked if I could drive a truck.

Mark _australia said...

Just how bad is the financial status of the USA?


The Recession has hit everybody..... I got a pre-declined credit card in the mail. Wives are having sex with their husbands because they can't afford batteries. CEO's are now playing miniature golf.
Exxon-Mobil laid off 25 Congressmen..
A stripper was killed when her audience showered her with rolls of pennies while she danced.
I saw a Mormon polygamist with only one wife.
If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them.
McDonald's is selling the 1/4 ouncer.
Angelina Jolie adopted a child from America .
Parents in Beverly Hills fired their nannies and learned their children's names.
My cousin had an exorcism but couldn't afford to pay for it, and they re-possessed her!
A truckload of Americans was caught sneaking into Mexico.
A picture is now only worth 200 words.
When Bill and Hillary travel together, they now have to share a room.
The Treasure Island Casino in Las Vegas is now managed by Somali pirates. Congress says they are looking into this Bernard Madoff scandal. Oh Great! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear!
And, finally I was so depressed last night thinking about the economy, wars, jobs, my savings, Social Security, retirement funds, etc., I called the Suicide Hotline. I got a call center in Afghanistan , and when I told them I was suicidal, they got all excited, and asked if I could drive a truck.

wait; what was that number?[}:)]

mineral1 said...

Was-is this stock market plunge engineered by the movers and shakers or what????

Yesterday Rio bids to go full ownership in a major partner with a take over bid, some clever heads in that lot at Rio.
Makes one question the real stock market position.
BHP buys out all its contract mining divisions 6am this morning lock stock and barrel people numbers included, from its major contractor, and that's no chump change to get that lot. Some clever heads there in BHP also.
So whats the real position guys? whats real and whats not.?
People pulling out of stock market, and buying USA bonds. That's what caused the latest crash/problem in the first place, or so they would have us believe.

That is a good question? Some days I think that perhaps the stock market is simply a giant game that can be deliberately influenced/manipulated. By whom, I am not sure, but yesterday was definately one of those days that has left me thinking that it would have been a great day to buy whilst prices temporarily fell and a bit of panic set in. Buy cheap, sell high? Obviously more to consider, but when net value takes a hit like it did, seems a bit of a no brainer?

mineral1 said...

Makes one question the real stock market position.

Got it in 1

Can anyone explain the fundamentals why the markets are almost 10% better than they were 3 days ago? I thought not...

SandS said...

GalahOnTheBay said...

mineral1 said...

Makes one question the real stock market position.

Got it in 1

Can anyone explain the fundamentals why the markets are almost 10% better than they were 3 days ago? I thought not...

havent read all this thread , but .

one possible answer to your Q may be the fact that the US have dropped the interest rate to 0 for two years.

So lots are puting money back into the stock market instead of banks.

No they havent done that, they pulled out of the stock market and went into US Bonds, thats what drove down the market, and to top it off, the US Government was just down graded in its credit rateing, so one wonders why anybody would buy bonds. Not logical, its all big buggerup

SandS said...
the news today said that they have said lock it in edddy at 0 for two years.

all moneys are going back to the stock market.

Make believe moneys, you mean... how many 0's would you like?

Bloody government.....Low unemployment, low debt, good growth..........." this is the worst government since federation": Sophie Mirrabella, Q and A

YAY... Some good news. I'm going shoppin'...

log man said...

...Sophie Mirrabella, Q and A

What a panel - Sophie Mirrabella, Paul Howes , what an arrogant dick. Please shut up, and let people speak.

Clive Palmer, the refugee champion

We need a good ol' war or false flag.

I can see the Aussie dollar devalueing hugely soon, low interest rates. **** is hitting then fan faster than I expected. I watched inside job the other day as recommended by this forum and well, that is nothing compared to what we are about to see.

Elroy Jetson said...

That's a surprise. The economy grew by 1.2 per cent in the June quarter.

It appears many of us have convinced ourselves that we are doing it tough when this may not be the reality.


www.abc.net.au/news/2011-09-07/household-spending-report-released/2875106


Ben Phillips, a principal research fellow at the National Centre for Social and Economic Modelling, says people are spending more on luxuries.

"The simple reality seems to be that people are actually doing really quite well," he said.

Time to buy with both hands now that everything is peachy in Australia and dirt cheap.

I was surprised by the GDP today. Australia is doing well compared to Europe and the USA, Japan. I guess when the world depression hits us, unfortunately, there isn't much we can do about it.

Here's some light reading: www.cnbc.com/id/44404184

log man said...

somehow the ground rules of politics has just shifted in a weird, alternate reality kind of way.

It's odd alright. I think it could be the minority government. To bolster support there is a need to discuss and debate a proposal in front of the media daily.

The public are over exposed to federal politics and interpret these daily political dramas as, "The current Government can't get their act together."

With the exception of Kevin Rudd, previous Prime Minister's had breaks from being front and centre in the media. At times they may not have appeared on TV or radio for a week or 2 (or longer).

nebbian said...

BHP shares are 40% higher than they were two years ago. This is a pretty good sign to me that things are on the improve

How are your Bloody Huge Profit shares looking today?

Should have sold them back in June. They are going to get lower - much lower before they get back to where they were in June. The recession has just kicked down a gear.

I think the property bubble will be first to burst in Australia - obviously real estate agents will keep ramping it up for a while.

If you have young children - take them to parks and stuff - those memories are priceless.

In maybe 5 -10 years time there will be another world war, don't be surprised if we all have to speak Chinese and BHP has been renamed to 汉字/漢