Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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Kind of ironic that the finance industry having been bailed out by various governments is now holding those governments to ransom for higher bond rates. Blackmail even?
 
The ASX does appear to be tanking!

The solution of course if for everybody to predict that the ASX is going to tank and to take out very small short positions.

This of course will result in the market to go up.
 
lenny said:
Italian 10 year bond yields have risen above 7% @ 7.2%

Spanish 10 year bond yields are not far behind @ 6.7%

How long can these countries sustain rates at these levels before they have to default?
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not long...the perfect storm is brewing. Europeans consumption is down which is hurting china exports(not that it matters, china is screwed without the help of other nations, its just going to amplify the magnitude greatly).

For some reason everyone has completely sidelined the fact that the US of A are probably far worse off than europe, the only reason they appear to be doing ok is because of bernanke and his trigger happy index finger. their growth year to the end of the sept quarter was just 1.5% - with trillions of dollars of stimulus??????

MO the ECB should not get involved at all, its the smartest move long term.
 
dutchie said:
The solution of course if for everybody to predict that the ASX is going to tank and to take out very small short positions.

This of course will result in the market to go up.
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Not so sure about that.

The bear market bounce off October 4 low went up 15% in just 18 trading session AMAZING.

There will be alot of retail investors trapped on the long side of market who where tricked into thinking that the bounce was the end of the bear.

There won't be a bottom in till we have seen total capitulation imho.
 
lenny said:
Italian 10 year bond yields have risen above 7% @ 7.2%

Spanish 10 year bond yields are not far behind @ 6.7%

How long can these countries sustain rates at these levels before they have to default?
Click to expand...

The Germans failing to sell their full allocation of Bonds is the big one..........
 
On what we are touching now it is well worth having a good look at what money and bonds really are.

When all added up together, money is really just thin air, or a paper rpomise some say. After reading this ask yourself, how far are we from a compete tipping point?

Enjoy

http://www.321gold.com/editorials/gnazzo/gnazzo051906.html

And note that the complete series of "Honest Money" will be found at the bottom of the link above.
 
IFocus said:
The Germans failing to sell their full allocation of Bonds is the big one..........
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I read over the weekend that the problem the Germans had in selling their bonds was that they were trying to get them away at less than 2% which apparantly was less than the rate of inflation. Ergo the bond buyers weren't having any of it.

None the less, the media and rumour mongers had a field day and the markets dropped accordingly. Subsequently, the DAX and the FTSE both closed higher on Friday.

It isn't like the Germans were being forced to pay 6-7% like Spain, Portugal, Italy, Ireland and Greece (and probably France soon).
 
Dont worry about the PIIGS or the US, look a little closer to home. The Great land of Oz is not better than the rest.

Australia’s foreign debt position relative to the size of the economy is higher than that of the United States or France.
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In December 2010, David Murray, Chairman of the Future Fund and former CEO of the Commonwealth Bank, issued a stern warning on Australia’s high level of net foreign liabilities, which had reached nearly 60% of GDP:
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http://www.macrobusiness.com.au/2011/11/we-should-listen-to-david-murray-now/

Are what is Australia's biggest threat, the price of housing and the debt that goes with it.

China slows, Australia falls.

As for Europe, well everyone can believe there is an upside, I just cannot see it. When the powers to be still think that adding more debt/fuel to the fire will put it out then we havn't even got to first base.

Cheers
 
satanoperca said:
Dont worry about the PIIGS or the US, look a little closer to home. The Great land of Oz is not better than the rest.





http://www.macrobusiness.com.au/2011/11/we-should-listen-to-david-murray-now/

Are what is Australia's biggest threat, the price of housing and the debt that goes with it.

China slows, Australia falls.

As for Europe, well everyone can believe there is an upside, I just cannot see it. When the powers to be still think that adding more debt/fuel to the fire will put it out then we havn't even got to first base.

Cheers
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Not to worry. In Oz we are "promised" huge wealth and prosperity from never-ending resources boom! :)

As explod hinted at in his last post, money is really nothing more than a "promise" by A that the bit of paper they passed to B is actually worth "something". In the harsh light of reality, (say, on a desert island you have a Billion in cash but nothing to spend it on) it is worth buckleys squit. :cool:

All comes down to airy-fairy "sentiment", "confidence" & vague notions of "value". Greed & lust for money is a strange human trait fortunately not exhibited by most other creatures on the planet! :)

Ahhh, all ya gotta do is lie back and BELIEVE, bros 'n sistas - belief is all you need.

Apparently.

LOL.

AOrds up sharply this am in the belief that ECB & IMF have all the answers.

Apparently...
 
Good support at 4100, there should be a run up to 4200 at least before resuming the down trend.

Those sharp falls whatever the reason are never good.
 
skyQuake said:
DJ REPORTS OF IMF PACKAGE FOR ITALY NOT CREDIBLE - INTERNATIONAL FINANCIAL OFFICIALS

More rumourtrage...
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Which one? The one about IMF doing the rescue or the one about IMF can't do the rescue?

I guess we are due for a relief rally...
 
Starcraftmazter said:
Someone (Goldman) is making a ridiculous amount of money off this bull**** market manipulation.

Amazing that authorities never do anything about it....
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Perhaps these so-called "authorities" are afraid to finger those deemed "Too Big To Touch"?

Perhaps these so-called "authorities" are themselves involved in more than just a tad of "market manipulation" through hype and central bank manouvres?

IMHO the notion of "free market" capitalist fundamentals driving all world financial market movements has been trashed since 2008 by a wave of neo-con-quasi-socialist ideals vomited up by panic-stricken poo-heads from all sides of the political spectrum. A somewhat sickening mix, I know.... :cool:

Oh well, looks like the latest 24Hr hype & spin has gone well this time.

Let the Market Zumba Party re-start!!

Mr Media will of course exhort everyone to SPEND, SPEND, SPEND like there is no tomorrow! Don't worry! There is unlimited printed ca$h to back the world to hell and beyond! Borrow as much as you think you can afford then DOUBLE DOWN!! Don't miss the Boom Bus!!

Well, sorry. I don't actually buy that crap anymore. I'm growing old and tired of these increasingly convoluted mind-games. This 24/7 frenetic NetBetWorld is clearly being designed for young-uns. Go forth & party on if you want. I'm just gonna sit back with the missus & watch the fallout when it comes raining back down again before too long.

chiz.
 
Aussiejeff said:
Perhaps these so-called "authorities" are afraid to finger those deemed "Too Big To Touch"?

Oh well, looks like the latest 24Hr hype & spin has gone well this time.

chiz.
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Well the Dow pumped up 250 points on the open 15 minutes then struggled to increase the rest of the day with a bit of a drop but was pumped again in the last 15 minutes just to let us know who's Boss.

The authorities are owned buy the big guys, "Don't you worry about that" said dear Joe of Qld
 
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