Australian (ASX) Stock Market Forum

GFC 2

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Think Europe its a hand grenade with the pin out and OZ has about 2 years before it all tanks.
China is building the worlds tallest sky scraper and this is normality before any depression.
 
DB008 said:
China slowing down. Iron Ore stockpiles. Deferred shipments. Vale down 24% in last 12 months.

http://www.macrobusiness.com.au/2012/07/ores-not-well/
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Yup, just listened to an interview with a guy that was here and has been here dozens of time over the last couple of years. He said the stockpiling of coal is particularly alarming. Its everywhere....piles of the stuff.

Construction sites have virtually gone idle from 24/7...

CanOz
 
Word is it will all be over in 2 yrs but by the looks of things could be any day, sadly it all takes time to start and stop, like stopping a runaway train, once China stops the big worry will be the OZ economy, agree we have Swan at the helm so in good hands and impossible to find better but I doubt if even he can the Salami as it rushes in.
Will be like every one in OZ is un employed over night.

Mate has got a job driving a water truck for $160K PA told him to go hard while it lasts.
 
Glen48 said:
Mate has got a job driving a water truck for $160K PA told him to go hard while it lasts.
Click to expand...

That pretty much sums up Australia's biggest labor problem.....LOL!!!:banghead:
 
From Bloomberg

Used Lamborghinis Linger On H.K. Lots Amid China Lull

Waiting lists for ultra-luxury cars in Hong Kong are getting shorter and used-car lots are cutting prices on Lamborghinis, Ferraris and Bentleys in the latest sign of China’s slowdown.
At first glance, the numbers are deceiving: Sales of very expensive new autos surged 47 percent in the first six months, according to industry analyst IHS Automotive. Look more deeply, however, and another picture emerges, especially in the city’s used-car lots.

Dealers of such second-hand cars say job cuts and the worsening global economic outlook are creating uncertainty among the finance-industry and expatriate professionals who make up the bulk of their buyers. Morgan Stanley (MS), Citigroup Inc. (C) and Deutsche Bank AG are among firms with Asian headquarters in Hong Kong that are cutting jobs worldwide.
“The more expensive the car, the more dry the business,” said Tommy Siu at the Causeway Bay showroom of Vin’s Motors Co., the used-car dealership he founded two decades ago. Sales of ultra-luxury cars have halved in the past two or three months, he said. “A lot of bankers don’t want to spend too much money for a car now. At this moment, they don’t know if they’ll have a big bonus.”
Click to expand...
http://www.bloomberg.com/news/2012-07-29/used-lamborghinis-linger-on-h-k-lots-amid-china-lull.html
 
Italy: S&P downgrades 15 banks and warns over recession

Standard & Poor’s has downgraded 15 Italian banks, saying Italy faces a potentially deeper and more prolonged recession than the ratings agency had originally anticipated.

Banks in the eurozone’s third largest economy are under pressure amid the widening eurozone debt crisis. They are seen as vulnerable because of their vast holdings in Italian government bonds.

Despite speculation, there was no question of the Italian or Spanish leaders openly embracing any EU bailout plan when they met this week. The economic data may be deteriorating but Italy’s Prime Minister Mario Monti has said Europe is starting to see the light at the end of the tunnel.

The European Central Bank indicated on Thursday that it may start buying government bonds again to reduce crippling borrowing costs for Spain and Italy.
But its head Mario Draghi indicated that any intervention would not come before September.
Click to expand...

Video on the page
 
DB008 said:
Italy: S&P downgrades 15 banks and warns over recession



Video on the page
Click to expand...

All the Mario Bros. have to do is continue playing soothing word games for the Mindless Media - it's sure worked till now. So, why not continue this painless strategy of "media soothing" forever? Costs nothing- raises Billions for the rich and powerful elite - the ones who really matter. That appears to be the game strategy for now - worldwide it would seem...

Que sera sera?

Meh. :rolleyes:
 
Aussiejeff said:
All the Mario Bros. have to do is continue playing soothing word games for the Mindless Media - it's sure worked till now. So, why not continue this painless strategy of "media soothing" forever? Costs nothing- raises Billions for the rich and powerful elite - the ones who really matter. That appears to be the game strategy for now - worldwide it would seem...

Que sera sera?

Meh. :rolleyes:
Click to expand...

Can't go on forever AJ;)
 
Ok im going on the record..GFC 2 is over!

The bottoms in and the ASX express is leaving the station...all aboard.
 
So_Cynical said:
Ok im going on the record..GFC 2 is over!

The bottoms in and the ASX express is leaving the station...all aboard.
Click to expand...

LOL! Nice one SoCyn...its already left. If its not back by November its not coming back for awhile...

CanOz
 
MrBurns said:
Probably another bluff, market will go down then up then...............:confused:
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I'd like to think not, but you're probably right...hasn't stopped the asx jumping this morning. As far as I'm aware greece has failed to meet the mark on almost every other occasion, I don't see how they will have reached it this time either. We'll know in a month!
 
Yes, but some German political parties are also looking at the new French president and his policies...


German Opposition Calls for Wealth Tax

he opposition center-left Social Democrats and the Green Party are proposing that Germany reintroduce a wealth tax that the country eliminated in 1997. Under the proposal, a 1 percent annual tax would be applied to Germans with assets exceeding €2 million (about $2.5 million). The tax allowance would be double that figure for married couples, Norbert Walter-Borjans of the Social Democratic Party (SPD), who is finance minister for the state of North Rhine-Westphalia, said on Wednesday.
Click to expand...
 

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