Wall Street opens in half an hour or so...

tac wrote:

Paul Keating wrote:To think that some people think that economics and politics isn't interesting.I have seen an extraordinary day today with a new Australian opposition leader and watching the world markets melt.

They are very interesting . . . it's just the qunts that talk about them that are boring . . .

Sh!t, who says politics and economics aren't interesting? Ya gotta have sumpent to talk about when there's no cricket!!

And what's the deal with these farkin petrol companies in Aus? If ever truckies should blockage anyone it's the farkin Shell and Caltex refineries. Shut the qun...erm pr!cks down. So what if we have a bit of pain for a while.

And someone should nuke the ACCC. What a useless pack of benders they are.

Oil at a $100 a barrel yet the price is still hovering around $1.50 a litre. Qun....erm barstewards.

skully wrote:

Oil at a $100 a barrel yet the price is still hovering around $1.50 a litre. Qun....erm barstewards.

That's 70p in normal money... ours isn't far off double that.

spangler wrote:

skully wrote:

Oil at a $100 a barrel yet the price is still hovering around $1.50 a litre. Qun....erm barstewards.

That's 70p in normal money... ours isn't far off double that.

Yeah consider yourself lucky buggers Down Under - minimal (if any) oil reserves and almost entirely dependent on imports
- and you lot still only cough up a mere 60 percent of what we have to over here.

Merlin wrote:Yeah consider yourself lucky buggers Down Under - minimal (if any) oil reserves and almost entirely dependent on imports

So, you're saying that 'Mad Max' is a massive possibility.

Cool.

skully wrote:And what's the deal with these farkin petrol companies in Aus? If ever truckies should blockage anyone it's the farkin Shell and Caltex refineries. Shut the qun...erm pr!cks down. So what if we have a bit of pain for a while.

And someone should nuke the ACCC. What a useless pack of benders they are.

Oil at a $100 a barrel yet the price is still hovering around $1.50 a litre. Qun....erm barstewards.

But USD100 a barrel at today's sub 80c exchange rate is about $120 at the exchange rate of barely a month ago.

So in AUD terms, oil hasn't come off that much.

The interesting one is gold - it is actually going up in AUD terms but all the Australian gold miners are being sold off big time at the moment. Something isn't right.

Brass Monkey wrote:

Merlin wrote:Yeah consider yourself lucky buggers Down Under - minimal (if any) oil reserves and almost entirely dependent on imports

So, you're saying that 'Mad Max' is a massive possibility.

Cool.

Good article in the latest Australian Top Gear mag about "the great Aussie car flicks" and of course Mad Max is the grand daddy of all of them.

Apparently Mad Max 4 is in pre-production.

So that's Rocky, Indy, Rambo, Die Hard and now Mad Max making a comeback in recent times. Seems a bit overkill to me, they'll probably bring Robocop back at this rate.

I might have all of the fron page to myself

Nope . . .

burn ... burn...ya capitalist roaders...lol at the dissolution of the empire of greed....now turning from the Carlton Footy club to the subject of this thread waht are the odds on IAG raising the gazillion it requires today to stay afloat.

JGK wrote:

skully wrote:And what's the deal with these farkin petrol companies in Aus? If ever truckies should blockage anyone it's the farkin Shell and Caltex refineries. Shut the qun...erm pr!cks down. So what if we have a bit of pain for a while.

And someone should nuke the ACCC. What a useless pack of benders they are.

Oil at a $100 a barrel yet the price is still hovering around $1.50 a litre. Qun....erm barstewards.

But USD100 a barrel at today's sub 80c exchange rate is about $120 at the exchange rate of barely a month ago.

So in AUD terms, oil hasn't come off that much.

The interesting one is gold - it is actually going up in AUD terms but all the Australian gold miners are being sold off big time at the moment. Something isn't right.

Ah yes, fair call JGK. But still, crude was down to US$91 this morning. Shirley we should see some relief at the bowser soon.

And to my English colleagues, WTF does juice cost so much in England? All that farkin North Sea Black Gold and all.

The latest is that in the UK, HBOS is in merger talks with Lloyds TSB. HBOS is really a retail bank whose shares have been pummelled in recent days.

I see the Seppo Govt had pumped $85 Billion into IAG to prop it up.

skully wrote: All that farkin North Sea Black Gold and all.

bit of a myth that - Angola produces more oil than we do!

Guess the real answer is that everything costs a farkin bomb here - so petrol would be no different

Yeah - an entity with trillions of dollars worth of debt "saves" one with mere tens of billions.

skully wrote:I see the Seppo Govt had pumped $85 Billion into IAG to prop it up.

AIG?

Well, there you go. I actually thought it was IAG. Cheers taips.

skully wrote:Well, there you go. I actually thought it was IAG. Cheers taips.

Clearly don't know your soccer.

I didn't actually check. IAG is an insurance company in Australia and I assumed it was the global owners.

Meh.

JGK wrote:Yeah - an entity with trillions of dollars worth of debt "saves" one with mere tens of billions.

Nice deal for the Fed though.

$85 billion loan at 11.4 pct over 2 years PLUS 70 percent equity in the company!

Bend over AIG and enjoy it!

Did they get nailed by Katrina? Or were they caught up in the whole credit crunch thingy as well?

skully wrote:I didn't actually check. IAG is an insurance company in Australia and I assumed it was the global owners.

Meh.

They're called AIA in Singapore, where queues have been forming outside their offices all day long to cash in insurance policies!
The John Lewis Partnership and discount stores like Argos, Comet and Curry's all have AIG warranties on their goods!
Serious crash and burn worldwide .... had it not been for the $85 billion parachute.

skully wrote:Did they get nailed by Katrina? Or were they caught up in the whole credit crunch thingy as well?

AIG ??

Yes they were hit by katrina (and now presumably Ike) ... as were Santander of Spain.

Merlin wrote:

JGK wrote:Yeah - an entity with trillions of dollars worth of debt "saves" one with mere tens of billions.

Nice deal for the Fed though.

$85 billion loan at 11.4 pct over 2 years PLUS 70 percent equity in the company!

Bend over AIG and enjoy it!

I think it might even be closer to 80% equity.


To think, a Republican government has now nationalised 3 financial services monoliths.

Strange days indeed.