Fat finger myth

"Trading error that caused 1000 points plunge" myth is for people unfamiliar with the safeguards on exchanges' IT systems. This rumour is old, and was straight away dismissed by NYSE:
http://finance.yahoo.com/tech-ticke...during-plunge-480290.html?tickers=pg,aapl,acn

For some obscure (rather obvious) reason it is still massaged by news.com and fairfax media.

What has happened is quiet ordinary - sharemarket zombies finally started to get a message. Judging from the Dow graph, freefall followed by panic Fed intervention. My personal opinion that market meltdown should have started when Dow reaches 13,000, but there will be no surprise if plunge into abyss already started. It is not question "if", it is question "when".

First question that the event raises is what posessed RBA to position us at such a time with the highest in the world interest rates?

There is no smallest doubt that we are about to see 2008-style panic cuts. This would be second time in history of this RBA board and third time in the history of RBA when they hiked rates when rates should have been cut.

Current RBA board shall be sacked without a question - we need them to look after our economy and not to engage in political *******ry of helping their beloved Libs in the election year.
 
Current RBA board shall be sacked without a question - we need them to look after our economy and not to engage in political *******ry of helping their beloved Libs in the election year.

Is this the same board that raised interest rates before and during the last election? I believe that may have been the first time they raised rates during an election campaign.
 
i see another leg down now - clear as day.

fat fingers? please. more like 2x institutional shorts executed on the same day.
 
This would be second time in history of this RBA board and third time in the history of RBA when they hiked rates when rates should have been cut.

They were only cut to save the banks from bad investors.
Keeping them low and manipulating the market ensures a Japanese style economy which has been dead for 20 yrs.

Unfortunately most people can't see past their next rate payment.
 
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