Re: So, forum financial gurus...

by JGK Thu 07 May 2015, 03:52

All week really. Feels a bit overdone.

by Henry Thu 07 May 2015, 12:26

I don't get the Australian dollar. The reserve bank cuts rates to an all-time low, yet the dollar actually RISES on the news.

by taipan Thu 07 May 2015, 12:40

It's been rising for the past month against the ZAR

by Bradman Fri 08 May 2015, 02:46

Henry wrote:I don't get the Australian dollar. The reserve bank cuts rates to an all-time low, yet the dollar actually RISES on the news.

Yeah and the Resreve has actually taken it upon itself to go all jihad on the dollar. Lowering interest rates is textbook but I think the problem was that just as the US looks like it may only be half a basket case it goes south again.

by skully Mon 29 Jun 2015, 08:21

2.3% (123 pts) haemorrhage on ASX today after Greek bail-out talks collapsed. What a pack of qunts the bum farkers are.

Still, suits me. I'm looking to get into a Yield fund in the new financial year. Will be a shitload cheaper than it was a few months back.

by Merlin Mon 29 Jun 2015, 08:54

Bank Holiday Week in Greece this week.... to avoid the "long" queues and them actually running out of money!

It appears that the wealthy Grecian folk off loaded their money from their Greek bank accounts into those overseas
on the day following the Marxist party's ascension to power ... did they know something perhaps?!

The sh*t hits the fan on Wednesday.... watch this space.

by skully Mon 29 Jun 2015, 10:17

I will, Merls.

So, forum financial gurus... - Page 22 Images?q=tbn:ANd9GcQsXtpBWDnbrCl5Yx_HnckMnUX7pZtHUz383lhgQryDs_sBAU9v

by taipan Mon 29 Jun 2015, 10:24

Merlin wrote:Bank Holiday Week in Greece this week.... to avoid the "long" queues and them actually running out of money!

It appears that the wealthy Grecian folk off loaded their money from their Greek bank accounts into those overseas
on the day following the Marxist party's ascension to power ... did they know something perhaps?!

The sh*t hits the fan on Wednesday.... watch this space.

A lot of UK pensions going tits up?

by Merlin Mon 29 Jun 2015, 11:12

taipan wrote:
Merlin wrote:Bank Holiday Week in Greece this week.... to avoid the "long" queues and them actually running out of money!

It appears that the wealthy Grecian folk off loaded their money from their Greek bank accounts into those overseas
on the day following the Marxist party's ascension to power ... did they know something perhaps?!

The sh*t hits the fan on Wednesday.... watch this space.

A lot of UK pensions going tits up?

Not quite yet, but expected to take a wee knock ...
A mild aftershock is expected to hit the City here during the course of this week,
however, a small blessing is that Greece's UK lenders retrieved 90 percent of their loans six
months ago, so the deficit isn't large enough to fret about ....... just yet!

The brinkmanship of Tsipras and his "game console expert" finance minister Varoufakis isn't quite yet over.
Whilst Merkel and the EU spits blood, the Syriza government are holding a spot-prompt referendum today
on whether to stay or leave the Eurozone.... it's only a matter of some 10 billion Euros they owe ....
What the hell, hey!
It's only Euros .....

by taipan Mon 29 Jun 2015, 11:23

Ouch, I see my small portfolio has taken a hammering today.

by Big Dog Mon 29 Jun 2015, 22:00

taipan wrote:Ouch, I see my small portfolio has taken a hammering today.

Everyone's in the same boat. Bloody Greeks. Rolling Eyes

by lardbucket Mon 29 Jun 2015, 22:04

Greece is the void.

by lardbucket Mon 29 Jun 2015, 22:09

lardbucket wrote:Greece is the void.

It might have groove and meaning (and no freaks) but it's got no money ...

by skully Mon 29 Jun 2015, 22:27

DJIA off 2% overnight. More haemorrhaging today for the ASX. Kudos to anyone that sold off at 5950. Cool

by Growler Tue 30 Jun 2015, 00:50

For all his faults, (and there were plenty of them) Gordon Brown deserves credit for digging his heels in and stopping the Grinning Liar taking us into the Euro.

The only real surprise about the whole issue is that it's taken so long to reach the crisis point they're now trying to deal with.

At the turn of the millennium, when the single currency - and the institutions/laws to run it - were introduced, South East England, and London in particular was booming. House prices were beginning to rise by several hundred pounds per week. I can't remember the interest rate, but it needed to rise to slow down house inflation.

On the other hand, the housing market in the industrial north - pit towns, mill towns, steel towns etc - was decimated as jobs were lost by the thousand. The last thing people there needed was a hike in interest rates... they actually needed them lower to stimulate the whole economy.

That was GB's conundrum as chancellor. He recognised that if he couldn't set an interest rate suitable for all of the UK, a Central Bank certainly couldn't set one suitable for both the economic powerhouse of Germany, and the basket-case mess of the southern countries (Greece, Italy and to a lesser extent Spain & Portugal). Others also foresaw the problems, but the project was steamrollered through anyway.

To make matters worse, the rules were then allowed to become flexible - breaches of required economic discipline were not sanctioned when they occurred, and here we are with Greece on its arse. The mess today was as inevitable as a de-masted ship on a rip-current off a coast ending up on the rocks.

Finally, to illustrate the point about house prices, interest rates and the UK North/South divide - a couple of numbers.

Terraced house in Newcastle, 1995 - average price £50,000. Average price today, 20 years on - £161,000.

Compare with a terraced house in London. Average price in 1995 was £123,000 - now goes for £740,000.

by JGK Tue 30 Jun 2015, 02:18

Aussie market up a little today. Euro up too.

When the Greeks get kicked out we'll wonder what all the fuss is about.

Meanwhile, the Chinese markets have fallen about 20% in the last week. That's the scary thing.

by skully Tue 30 Jun 2015, 07:57

JGK wrote:Meanwhile, the Chinese markets have fallen about 20% in the last week. That's the scary thing.

Finally using your powers for good not evil. ASX saw a late rally after the Chinese markets picked up today.

by skully Fri 03 Jul 2015, 02:56

ASX shitting its dacks again today, heading for 100 points loss but will probably make a late adjustment and finish at around 70 down.

by Ethics? The Gall! Fri 03 Jul 2015, 03:17

im finally glad i sold all those shares a couple weeks back

by JGK Fri 03 Jul 2015, 03:38

It's been up a stack the last couple of days.

I wish the flucking Gleeks would sort their shit out one way or the other.

by lardbucket Fri 03 Jul 2015, 05:36

Look, they invented democracy, so perhaps it's theirs to smash ...

by lardbucket Fri 03 Jul 2015, 05:38

... a Grecian urn's how much?

Not much. Most of them are going broke.

by Big Dog Fri 03 Jul 2015, 09:14

Fluck the Greeks. They can retire at 55 on full pensions & tax avoidance is a national pass time. They deserve every pile of shyte they dig for themselves.

by taipan Fri 03 Jul 2015, 09:16

Big Dog wrote:Fluck the Greeks. They can retire at 55 on full pensions & tax avoidance is a national pass time. They deserve every pile of shyte they dig for themselves.

55?

The swine.

by Merlin Fri 03 Jul 2015, 09:44

And still the Greeks bitch about the Elgin Marbles ...
Not too many problems on their plate right now -
but hey, the Elgin marbles are a priority and "we want them back in our country"!

Perhaps if they did have them, they'd flog them off to the highest bidder so as to balance their books!

PS - Seems their exit poles are pointing towards a "Yes to Austerity" vote in the referendum -
47% vs 43% with 10% undecided.
This would fly in the face of their lunnie leftie PM Tsipras who recommends a NO vote so as
to snub both the EU and the IMF and show those two institutions how his people are right behind him!!
Should he lose the referendum vote, then the sh*t really hits the fan!

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