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Market Freefall

Aussie market keeps dropping every time I refresh news.com.au

And the dollar has lost 2c


( 14 comments — Leave a comment )
Sep. 30th, 2008 03:35 am (UTC)
I'd hazard a guess to say that at least 50% of the stockmarket is hype. Excuse the crudity, but a voice screams someone in the room farted and everyone is scrambling for the doors, regardless of whether or not they can smell it.

What really changed after the WTC attacks? Uhm - the war in Iraq? That would probably have happened regardless.

Let's not perpuate the hysteria. It's a great time to be buying shares.
Sep. 30th, 2008 03:38 am (UTC)
Well yeah - I mean stockmarket is always about the hype. That's its thing.

A lot changed after WTC - a heck of a lot. I can't frigging post a magazine to Tansy in Tasmania anymore without three forms of ID and a signature on a form. I can't get through an airport without being felt up and having to give up my eye gel and toothpaste. I wasn't sure if I should continue my jokes about overthrowing the govt on my blog yesterday in case I got accused of terrorist activities.

A lot of subtle things make this world darker and scarier than it was before.

Edited at 2008-09-30 03:38 am (UTC)
Sep. 30th, 2008 03:50 am (UTC)
I think all those changes are marginal, and were probably overdue anyway. Airport and mail security had been a piece of **** for years, and this was a disaster waiting to happen. I mean what really, really, fundamentally changed in our way of life? In the way we thought the world would collapse?
Sep. 30th, 2008 03:51 am (UTC)
That it was possible? And that it was closer than we thought?
Sep. 30th, 2008 04:04 am (UTC)
I may be an incurable optimist, but I feel WTC, horrendous as it was, will go down in history as a minor blip which served as an overdue reality check for western countries. When thinking about something that seriously affected ways of life, I'm thinking WWII.
Sep. 30th, 2008 04:06 am (UTC)
I guess we have more knowledge in the benefit of hindsight and I hope you're right!
Sep. 30th, 2008 04:16 am (UTC)
I think that the world is not in so much turmoil that we don't have the resources to sort it out. There is the infrastructure to help people in trouble. We (governments) should help them. I'm happy to help pay for that. We might have to curb our spending, but - hey - I go to the supermarket and the shelves are full. I don't have to queue up for vouchers. I get in the car and there is petrol around the corner. And my kids can go to school. My father never went to primary school. He was six when the bombs fell on his home town, and when WWII was over, he was old enough to be accelerated into high school. I think a lot of the hype-mongerers need to tone it down a notch.
Sep. 30th, 2008 04:20 am (UTC)
Do you think we should be paying for the current turmoil - of banks overlending to insecure loans and for people taking out loans they could never repay?
Sep. 30th, 2008 04:31 am (UTC)
I think we should be helping the individuals who have become victims of predatory lending, yes.

(note: not the banks - it's their problem, and the less viable banks will probably be taken over by bigger banks who will become more cautious about lending, thereby saving their own problems in the longer term)

I think we should have better and more affordable and more easily accessible (and less ghetto-like) public housing. In some countries, the state sells housing under home ownership schemes, or offers lifetime rental contracts. I think there is something fundamentally wrong with the lower end of the housing market (especially the rental market). I'm happy for my tax money to go into improving this.
Sep. 30th, 2008 06:01 am (UTC)
And there should be less propping up of real estate as investments (despite my Dad doing rather well through it)...
Sep. 30th, 2008 05:36 am (UTC)
It dropped to start with and has been crawling back up ever since. The future is going to be ... interesting.
Sep. 30th, 2008 05:38 am (UTC)
as always
Oct. 1st, 2008 09:49 am (UTC)
Aussie market keeps dropping every time I refresh news.com.au

Then stop refreshing news.com.au, then!

*boom tish*
Oct. 1st, 2008 10:47 am (UTC)
ahhh - tomorrow night I'm gonna try the veal
( 14 comments — Leave a comment )

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