Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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matty77 said:
Please start a The Official "ASX is broken!" panic thread

lol :)
Click to expand...
good idea :)
Today's glitch will be grist on the mill of all those Luddites that want to ban computer-assisted trading. Yeah, right: Let's send smoke signals to the brokers on the floor and deliver contract notes by horse carts or carrier pigeons :banghead:
Chi-X connections must rub their hands with glee :p:
 
Dont think it is open. Maybe they might have the asx running in trial mode to see if they have sorted out the bugs/glitch.

But cant trade any stocks at the moment
 
Why is the market up 100 pts? Has there been an announcement from Europe?
I must have missed something.
 
13:07 27Oct11 RTRS-SARKOZY - NEW FIREPOWER OF EFSF IS ABOUT 1.4 TRILLION DOLLARS



Subject: 27Oct11 RTRS-SARKOZY - NEW FIREPOWER OF EFSF IS ABOUT 1.4 TRILLION DOLLARS




12:58 27Oct11 RTRS-SARKOZY - EUROZONE HAS ADOPTED A CREDIBLE AND AMBITIOUS RESPONSE TO THE DEBT CRISIS

13:00 27Oct11 RTRS-SARKOZY - PRIVATE SECTOR PARTICIPATION WILL ALLOW GREEK DEBT TO BE REDUCED TO 120% OF GDP IN 2020

13:00 27Oct11 RTRS-SARKOZY - PRIVATE HOLDERS OF GREEK DEBT HAVE RENOUNCED 50% OF ITS VALUE

13:02 27Oct11 RTRS-SARKOZY - GOVTS ARE PREPARED TO MOBILISE 30 BLN EUROS TO ACCOMPANY 100 BLN EUROS FROM PRIVATE SECTOR

13:03 27Oct11 RTRS-SARKOZY - AGREEMENT ON EFSF WILL LEVERAGE IT BY FOUR TO FIVE TIMES

13:04 27Oct11 RTRS-SARKOZY - AGREEMENT WITH PRIVATE SECTOR IS VOLUNTARY, DEFAULT IS EXCLUDED

13:05 27Oct11 RTRS-SARKOZY - IN PRINCIPLE, CHINA COULD PARTICIPATE IN NEW EFSF

13:07 27Oct11 RTRS-SARKOZY - NEW FIREPOWER OF EFSF IS ABOUT 1.4 TRILLION DOLLARS
 
tech/a said:
The truth is there have to be bailouts.

The alternative--- default will lead to Credit Default swaps being called upon.
So as banks cannot pay their liabilities other banks with totally un related swaps will fail as banks who hold some of their swaps are called up as default comes through no fault of theirs.
So the dominoes will falL so fast that no amount propping will be available.
Simply money will run out and banks---- lots of them will collapse.

Try to imagine what would happen if banks collapsed and Govts couldn't help!

Businesses lose all their funds and operating capability
Now what would that mean to governments?
Click to expand...

And so then you have it!
 
satanoperca said:
Wait until the next meltdown, shouldn't be to far away. Italy will also put their hand up for a debt reduction and then Spain and so on and so on and so on.

But for now, XAO is heading up it would seem.

Cheers
Click to expand...

The Greek bailout sends the wrong message, to Greece and the rest of the Euro members. "If you can't pay your bills, don't worry we will bail you out". For Greece it is "back to the party". For the rest of the members with problems it is "If you did it for Greece, you have to do it for us".
All care and no responsibility, party, party, party.

This bubble is going to make the GFC look like a pimple. When it collapses........
 
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