GDP shakey as...

[csc]

FYI;

http://abs.gov.au/ausstats/[email protected]/mf/5206.0?OpenDocument

good luck....another one or two of these then the economy will struggle big time i feel until late next year at the earliest.

100% sure there will be a rate reduction in april, if not beforehand......banks will take a slice of that as well......

anyone take me on for a quick 50 bill bet???

 

[sparky23]

100% would be lovely but I suspect you meant 1%? LOL

 

[Aaron Sice]

what about GNP figures - need to take the two figures together.

 

[Ms Jade]

FYI;

http://abs.gov.au/ausstats/[email protected]/mf/5206.0?OpenDocument

good luck....another one or two of these then the economy will struggle big time i feel until late next year at the earliest.

Agreed. Even the positive net export figures didn't save us last qtr. I'm worried what it will look like when that turns around...

 

[chilliaa]

FYI;

http://abs.gov.au/ausstats/[email protected]/mf/5206.0?OpenDocument

good luck....another one or two of these then the economy will struggle big time i feel until late next year at the earliest.

100% rate reduction in april, if not beforehand......banks will take a slice of that as well......

anyone take me on for a quick 50 bill bet???

YIP im on, $50, decided in april 2009 if 100point rate reduction or more you win, if less than 100 point rate reduction, i win.

 

[csc]

YIP im on, $50, decided in april 2009 if 100point rate reduction or more you win, if less than 100 point rate reduction, i win.

ha! ya dont make the betting rules that easy.....i wouldnt count on 1%, its possible but unless more damaging data is released beforehand we are all guessing on the reduction amount.

i will take you on though about the banks getting a slice of the next cut for fiddy bills! show me the money??

 

[WinstonWolfe]

Australia's non farm sector IS in recession.....sep and dec qtrs contracted. And what % of the workforce works in the non farm sector?

Nevertheless, the RBA spun its typical deceptive lying BS not 24 hours ago.
"In Australia, demand has not weakened as much as in other countries and, on the basis of currently available information, the Australian economy has not experienced the sort of large contraction seen elsewhere."

How the RBA can say this the day before today's GDP data release, beggars belief. Oh that's right, today's figures weren't 'currently available information' yesterday.

Anyway, I've learnt that the RBA is so reliable in their desire to mislead the markets, that I am consistently making money of it.

Who benefited from the game the RBA played yesterday in keeping consumer rates as is? Why would they do such a thing? Who benefits? Distressed Aussie banks with more bad debts on and off their books then they are prepared to let Joe Public know about. The RBA didn't shift rates yesterday because it chose to benefit Aussie bank profits, at the expense of borrowers.

 

[see_change]

The only logical reason I've seen for not dropping rates down , is that when things get worse ( which they will) they won't have anything left they can do .

Keeping some powder Dry .

Cliff

 

[chilliaa]

ha! ya dont make the betting rules that easy.....i wouldnt count on 1%, its possible but unless more damaging data is released beforehand we are all guessing on the reduction amount.

i will take you on though about the banks getting a slice of the next cut for fiddy bills! show me the money??

nah that the banks will take a portion is nearly a given, so will pass on that.

 

[nonrecourse]

Australia's non farm sector IS in recession.....sep and dec qtrs contracted. And what % of the workforce works in the non farm sector?

Nevertheless, the RBA spun its typical deceptive lying BS not 24 hours ago.
"In Australia, demand has not weakened as much as in other countries and, on the basis of currently available information, the Australian economy has not experienced the sort of large contraction seen elsewhere."

How the RBA can say this the day before today's GDP data release, beggars belief. Oh that's right, today's figures weren't 'currently available information' yesterday.

Anyway, I've learnt that the RBA is so reliant in their desire to mislead the markets, that I am consistently making money of it.

Who benefited from the game the RBA played yesterday in keeping consumer rates as is? Why would they do such a thing? Who benefits? Distressed Aussie banks with more bad debts on and off their books then they are prepared to let Joe Public know about. The RBA didn't shift rates yesterday because it chose to benefit Aussie bank profits, at the expense of borrowers.

But Winston its different in Australia (Famous last words as the property bubble starts to deflate)

 

[WinstonWolfe]

But Winston its different in Australia (Famous last words as the property bubble starts to deflate)

Yes NR.....our banks really are different......instead of going to the central bank for money when distressed, they go to the market with a rights issue.

A week or so after the capital raising, they let on they just found bad debt exposure they weren't aware of beforehand.

That's the sort of behaviour that the RBA bases it's view "The Australian Banking system is more robust than foreign systems" on.

 

[josko]

Australia's non farm sector IS in recession.....sep and dec qtrs contracted. And what % of the workforce works in the non farm sector?

Nevertheless, the RBA spun its typical deceptive lying BS not 24 hours ago.
"In Australia, demand has not weakened as much as in other countries and, on the basis of currently available information, the Australian economy has not experienced the sort of large contraction seen elsewhere."

How the RBA can say this the day before today's GDP data release, beggars belief. Oh that's right, today's figures weren't 'currently available information' yesterday.

Anyway, I've learnt that the RBA is so reliant in their desire to mislead the markets, that I am consistently making money of it.

Who benefited from the game the RBA played yesterday in keeping consumer rates as is? Why would they do such a thing? Who benefits? Distressed Aussie banks with more bad debts on and off their books then they are prepared to let Joe Public know about. The RBA didn't shift rates yesterday because it chose to benefit Aussie bank profits, at the expense of borrowers.

WW, welcome back and nice to read you again!

Could not agree with you more and I am not even angry.

Everyhting is so completely out of our control and in the hands of the few that will make sure they benefit from it.

Oh well. Not much I can do about it. I'll just make sure my own affairs are in order and weather the storm.

Regards JO

 

[contrary]

The only logical reason I've seen for not dropping rates down , is that when things get worse ( which they will) they won't have anything left they can do .

Keeping some powder Dry .

Cliff

Or they are too worried about inflation. Lowering rates costs government nothing whereas stimulus=more taxes later.

Maybe they are leaving the nuclear weapons (zero interest rates ZIRP) until later. It will be funny if when they pull the nukes out (ZIRP and QE), it does nothing, as it has done little in other countries such as US, Japan, UK...

 

[nonrecourse]

Yes NR.....our banks really are different......instead of going to the central bank for money when distressed, they go to the market with a rights issue.

A week or so after the capital raising, they let on they just found bad debt exposure they weren't aware of beforehand.

That's the sort of behaviour that the RBA bases it's view "The Australian Banking system is more robust than foreign systems" on.

But guess what Winston, the bank, the government and the share holders all deseve each other. Case in point is the retail and industry super funds refusal to vote down pay increases to directors who serve on ASX listed companies when performance has been lacking. Its an old boys network.

Anyone who puts money into a retail or industry super fund willingly is a fool.
Super in those two types of funds is a ponzi scheme designed to line the pockets of the super industry.

 

[Aaron Sice]

Australia's non farm sector IS in recession.....sep and dec qtrs contracted. And what % of the workforce works in the non farm sector?

yep - 2 consec quarters of neg growth = recession.

the recession has been identified by it's definition.

 

[Aaron Sice]

Anyway, I've learnt that the RBA is so reliable in their desire to mislead the markets, that I am consistently making money of it.

Who benefited from the game the RBA played yesterday in keeping consumer rates as is? Why would they do such a thing? Who benefits? Distressed Aussie banks with more bad debts on and off their books then they are prepared to let Joe Public know about. The RBA didn't shift rates yesterday because it chose to benefit Aussie bank profits, at the expense of borrowers.

good to see someone else exploiting the bleeding obvious for a dollar here and there.

i've always said the RBA is a wealth confiscation device - and it is at present - wealth from your pocket to theirs. just coz i called no cut doesn't mean i'm not upset.

and welcome back.

 

[WinstonWolfe]

But guess what Winston, the bank, the government and the share holders all deseve each other. Case in point is the retail and industry super funds refusal to vote down pay increases to directors who serve on ASX listed companies when performance has been lacking. Its an old boys network.

Anyone who puts money into a retail or industry super fund willingly is a fool.
Super in those two types of funds is a ponzi scheme designed to line the pockets of the super industry.

Gawd NR, don't get me started on the Super industry. It is outright usurpation of money by self proscribed elites. It is theft, the modern day equivalent of a King and Lords taking a share of the produce of serfdom's labour. I used to think lowly of the insurance and legal industries before super came along. And it is all carried out with the blessing of naive paternal do gooder Socialist bureaucrats. But I digress. Sometimes I have trouble identifying who does an honest day's work apart from teachers and nurses.

 

[cdremy]

Anyone who puts money into a retail or industry super fund willingly is a fool.
Super in those two types of funds is a ponzi scheme designed to line the pockets of the super industry.

I agree, but what are the many people who have a small amount in super supposed to do? A smsf is only cost efficient for sums larger than $200,000.

 

[Aaron Sice]

that's an old wive's tale.

i have about $30k producing a solid 7.5%pa return, and about to start buying IPs through it.

there's more to an SMSF than it's total balance sheet value - the 15% tax rate is very appealing in itself.

 

[chilliaa]

Yes NR.....our banks really are different......instead of going to the central bank for money when distressed, they go to the market with a rights issue.

A week or so after the capital raising, they let on they just found bad debt exposure they weren't aware of beforehand.

That's the sort of behaviour that the RBA bases it's view "The Australian Banking system is more robust than foreign systems" on.

Easy then dont particiapate in their share offerings and dont hold their shares, nobody is forcing you to invest.

Same as Non-Recourse verbal diarrhea about superannuation, you dont have to elect to invest in more aggressive superanuation settings: its your choice.