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The official "ASX is tanking!" panic thread

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LostMyShirt said:
Yeah, Carbon Tax will raise billions - at the expense of the consumer. We get tax breaks? Why should we pay in the first palce?
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There is a price to pay for everything man makes. The individual abdicates this responsibility to the tribal leaders when in fact it is of their own (unbeknownst or ignorant) making.
 
The way I see it.

3 Trillion to plug the flow and avert default dominos.
So the situation is serious.
However the bandaid then applied to both the US and then the Eurozone
Means that if internal structures and return to growth DOESN'T occur then
There will be no where to run.

Then there is the issue of the 3 trillion who is going to pay that back?
How and when?
 
tech/a said:
Then there is the issue of the 3 trillion who is going to pay that back?
How and when?
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Paying back debt hasn't been a concern for the last decade why would it start to be now?

Which ever path the world leaders take us down it is very hard to see any upside until the issue of excessive debt is controlled and eventually paid down. Think this may be more than just a couple of years.

Cheers
 
Interesting the Gold is being belted so hard.
Could have a bottom in place for the moment whilst they manage a Greek default and put off the rest for some time.
 
Just half watched something on the BAC over the weekend comparing the US and EUR's response to Argentina's back when they defualted.

US and EUR focused on top down, giving tax payer funds to banks in the hope they would be reasonable (yeh right).

Whereas Argentina focused on improving exports and raising the minimum wage so more people would have more money to spend
 
Commodities are being smashed to the centre of the earth (will probably punch a whole to China soon), plenty of profitable resource producers priced back into the <$1 category. Former market darlings are being spat out like a bad throat inflamation... LYC is now 87c.

I am very surprised to see financials in the green... perhaps there's a bit of switching from materials to the fins from funds that stay invested.

Today feels even more bearish than last week if that is actually possible.
 

Ive noticed a few tech stocks getting smashed too...DTL, SMX, OKN(was down more earlier)
 
A lot of dividend payment dates occur over the next month or so...
Wonder how much of it will be reinvested and how much will be put elsewhere....
 
skc said:
Today feels even more bearish than last week if that is actually possible.
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Agree, everything is getting smashed atm, crude contract has lost nearly $3 since about 8am today.

My guess is it could be ugly tonight.
 
My portfolio took even more of a beating today.

The market has no remorse. Even though the stocks have very strong fundamentals, the stock still gets beaten. So what bloody hope is there for investors anymore? Share market gambling - one massive game. You have to be inside to win it...
 

Fundamental investing requires looong time-frames...
 
nomore4s said:
Agree, everything is getting smashed atm, crude contract has lost nearly $3 since about 8am today.

My guess is it could be ugly tonight.
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Not true, CSL and Ramsey Healthcare have been doing pretty splendidly over the last couple of days.
 
RandR said:
Not true, CSL, Ramsey Healthcare have been doing pretty splendidly over the last couple of days.
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Increased business and healthcare requierments meet higher demand as people suffer heart attacks on a wide scale due to market and economic woes.
 
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