Australian (ASX) Stock Market Forum

Boom to Bust

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Stop_the_clock said:
Hot off the press ACA and Today tonight have finally stopped ramping the housing market and are now very bearish:eek:

Remember the hundreds and thousands of hum-drum stories over the past 3years about how anybody could be a multi-millionare and buy 10 properties, lets not stop at 10, lets go 20 properties....yes we could all do it following the 10 simple steps etc

Well blah, blah, blah!

Now tonight, we have the complete opposite...sell your properties, rent do anything just to keep your head above water. Hell lets even sell the family car and your grandparents set of dentures just to keep up with loan repayments.

...!
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Well observed.

Those programs are part of the information diarrhea that explodes across our sense perceptors.

I watched ACA tonight which I never do (don't actually own a TV) and saw the great ship shift direction - from hoopla to doom.

The bottomline though is to tap into peoples concerns, fears, hopes and dreams. Keep the punters watching, and ultimately - and this really is the only point - show them ads.

And banks are good television advertisers.
 
It's simple...

Credit Expansion = Boom
Credit Contraction = Bust

Once you work out that the worlds monetary and banking systems are the biggest scams on the planet and you understand how they create the booms and busts, the sooner you can position yourself to take advantage the boom and busts.
 
Stop_the_clock said:
Hot off the press ACA and Today tonight have finally stopped ramping the housing market and are now very bearish:eek:

Remember the hundreds and thousands of hum-drum stories over the past 3years about how anybody could be a multi-millionare and buy 10 properties, lets not stop at 10, lets go 20 properties....yes we could all do it following the 10 simple steps etc

Well blah, blah, blah!

Now tonight, we have the complete opposite...sell your properties, rent do anything just to keep your head above water. Hell lets even sell the family car and your grandparents set of dentures just to keep up with loan repayments.

How the mighty are falling...boor bastards. I show No sympathy towards these people, as nobody care less about the millions of young people who have been robbed of home ownership by the greedy few out there, and you know who you are!
Click to expand...

No one rob you or younger generation of anything. It's a capitalist country
and supply and demand dictates price.
House price will continue to go up as long as demand outstrip supply, same goes with the stocks if you have 100 buyers
and only 80 sellers the stock will sell for higher price.

I dont have 2 or three or four properties and I don't blame anyone for the current price, it just the way it is. I refuse to buy because in my book its too expensive and I cant afford it :D until such a time I think it's cheap I will buy.
and if people getting into too deep and go bankrupt, they shouldn't blame interest rate rise or government either.
 
MS+Tradesim said:
But you trying telling these young people today about Monte Python and they won't believe you! :D

Eric the half a bee.

Ps. Long live vikings and spam.
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The Knights of Ni say ..... *NI!!* and spake the following wordeth...

"Thou shalt take thy humble Monte and shallt re-spell hymnth 1,000 timeth on yon blackened board, thusly:

*MONTY*
*MONTY*
*MONTY*
etcetera...etcetera...etcetera..."

Thus shallt ye be spared further ignominy...."

NI
 
I've just had a thought...

This whole shambolic Sub-Prime cum World Financial Markets Meltdown thingy IS just a long, drawn out MONTY PYTHON sketch that we are living out, isn't it?

"There coming to take me awaaay, ha ha, hee hee, ho ho.....!"
 
Aussiejeff said:
I've just had a thought...

This whole shambolic Sub-Prime cum World Financial Markets Meltdown thingy IS just a long, drawn out MONTY PYTHON sketch that we are living out, isn't it?

"There coming to take me awaaay, ha ha, hee hee, ho ho.....!"
Click to expand...

SPAM SPAM SPAM SUBPRIME AND SPAM
 
Surely there is a Polititians UNION which will have something to say about that!!

I can see Australian workers by the 1000s rolling up to their employers offering to take a cut in wages.

Monty Pythons Flying Circus has come to Canberra.

To quote the "Black Knight"

AH! Its only a flesh wound!!
 
Greenspan's just a naughty boy, eh?
and...
I like Chineeeeese, they come up to your kneeees..........:D
 
From the ABC link above:

Ms Gillard says she would be prepared to take a lower pay rise than the remuneration tribunal recommends.
Click to expand...

Not a pay cut, but a lower pay rise. Pollies speaketh with forked tongue.

Ps. Monty, Monty, Monty. Thus haveth I absolveth mine transgressions.
 
One thing to say regarding politicians and pay is look at all forms of remuneration.

Super contributions for politicians were 9%. Increased by Howard recently to 15%. Justification, apparently we have to encourage and reward talented people to become politicians. Hmmm!
 
r m said:
One thing to say regarding politicians and pay is look at all forms of remuneration.

Super contributions for politicians were 9%. Increased by Howard recently to 15%. Justification, apparently we have to encourage and reward talented people to become politicians. Hmmm!
Click to expand...


As much as I hate to admit it, I sort of agree with this thinking, especially during this boom.

Wages for the talented and skilled have seen huge growth in the Private sector and we really do need skilled intelligent people running the country, that want to be there. Its a fine balance though, you also want people doing the Job beacause they want to do it rather than just want the cash, last thing we need is more fickle pollys! :)
 
Seems the slow down and Interest rates are starting to take toll.

Car parts firm closes, 300 lose jobs
Tuesday Feb 12 14:02 AEDT
Australia's largest car parts distributor has gone into liquidation, putting 300 people out of work.

Staff at National Parts plants in Melbourne, Sydney, Brisbane, Adelaide, Perth and Newcastle were told the company was performing too poorly to continue trading and could no longer offer employment.

The company is a wholly owned subsidiary of Automotive Components Limited (ACL) and employs 300 staff around Australia.

Liquidator KordaMentha issued a statement saying the administrators had no choice but to cease trading.

The viability of the company has been fatally wounded by high operating costs, a general economic tightening and continued decline in the parts industry," KordaMentha spokesman Craig Shepard said.
Click to expand...

http://news.ninemsn.com.au/article.aspx?id=107974

I fear more to come over coming months :eek:
 
Increasingly looking like the party's over :cool:


ECONOMIC data for January suggests the Australian economy has already passed its peak, even as the Reserve Bank prepares to again raise interest rates in the fight against runaway inflation.

Business confidence collapsed last month, falling 9 points to minus 4 index points, according to National Australia Bank's monthly survey.

It is the lowest the measure has fallen since the September 11, 2001, terrorist attacks. And if the unprecedented events of 2001 are excluded, it equals the lowest business confidence figures recorded.
Click to expand...

http://business.theage.com.au/slump-in-confidence-survey/20080212-1ru5.html
 

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