We are entering the stage where ideology and education about sustainability and living within carrying capacity will be augmented by the reality of identifiable consequences of our overshoot. External consequences like the peaking and decline of below ground energy and commodity resources, above ground environmental degradation of our climate, soils, fisheries and climate will have a profound effect on our culture.
2009 is the year when we start to feel it.
Joined: Aug 23, 2004 Posts: 713 Location: Frost Free in New Zealand
Posted: Sat Nov 03, 2007 6:21 pm Post subject: Crash is coming, warns Victoria's top investor
Quote:
THE man responsible for investing $41 billion of the State's money has warned mum-and-dad investors to prepare for a massive sharemarket crash.
He says a dramatic downturn is inevitable as the rapid rate of investment is unsustainable, and the repercussions of the $300 billion subprime lending crisis in the US are yet to be felt fully..
..described the subprime debacle as being "the least of our concerns". It was the "roaring bull" market that kept him awake at night, he said.
Maybe mum and dad investors will turn it into a self fulfilling prophecy this week as it's the most viewed article of the day _________________ Let us make him who shall nourish and sustain us. What shall we do to be invoked; to be remembered in the earth.
We have tried with our first creatures but we could not make them venerate us.
So let us try to make obedient respectful beings who shall
Posted: Sun Nov 04, 2007 12:00 am Post subject: Re: Crash is coming, warns Victoria's top investor
The legendary metals trader, Jim Sinclair, says "This is it" and advises protecting yourself as soon as possible from the unwinding of the derivitives market, which he feels is imminent.
He's very uncomfortable with what's happening in the markets right now.
Joined: Nov 20, 2006 Posts: 123 Location: Tasmania
Posted: Sun Nov 04, 2007 1:17 pm Post subject: Re: Crash is coming, warns Victoria's top investor
I pulled all my stocks from the Australian share market about 2 weeks ago. It was all getting a bit too much. Will be interesting to see if this article has any effect on Aussie stocks this week.
Joined: Aug 23, 2004 Posts: 713 Location: Frost Free in New Zealand
Posted: Sun Nov 04, 2007 6:29 pm Post subject: Re: Crash is coming, warns Victoria's top investor
Early hours let alone days yet but the Aussie market is down .5% in the first 30 mins.
Even that slimy cane toad howard is forced to issue a few words of truth.
PRIME Minister John Howard has said rising inflation is unavoidable in a strong economy affected by drought and high global oil prices.
The Reserve Bank of Australia (RBA) is widely tipped to raise interest rates this week in the wake of last month's inflation data which showed building price pressures..
..He said there are also other challenges facing the economy, predicting further repercussions from the sub-prime meltdown in the United States.
_________________ Let us make him who shall nourish and sustain us. What shall we do to be invoked; to be remembered in the earth.
We have tried with our first creatures but we could not make them venerate us.
So let us try to make obedient respectful beings who shall
The Australian stock market plunged 3.5 per cent today, wiping $53 billion from the value of stocks in the biggest one-day fall in four months.
The big drop followed an earnings downgrade by Centro Property Group, which caused carnage among local property trusts.
The day had already got off to a bad start after high inflation figures in the US dimmed hopes of rate cut there, prompting a big fall on Wall Street.
Centro, which is Australia's second biggest owner of shopping centres, tumbled over 75 per cent after higher funding costs triggered by the US sub-prime mortgage crisis forced it to slash its distribution guidance..
_________________ Let us make him who shall nourish and sustain us. What shall we do to be invoked; to be remembered in the earth.
We have tried with our first creatures but we could not make them venerate us.
So let us try to make obedient respectful beings who shall
Joined: Nov 24, 2007 Posts: 26 Location: south OZ , sheep/wheat zone
Posted: Mon Dec 17, 2007 4:03 am Post subject: Re: Crash is coming, warns Victoria's top investor
Good example of the scale of the problems coming at us. $53b is a crap pile of money but its only 3.5% of value. Just think what could happen if we have a 1929 style crash.
Joined: Nov 24, 2007 Posts: 26 Location: south OZ , sheep/wheat zone
Posted: Mon Jan 21, 2008 5:39 am Post subject: Re: Crash is coming, warns Victoria's top investor
That alokin is the question, for the simple reason there has never been a set of circumstances like the present. The last real major correction in some ways was 1987. Now think of all the things that have changed since then, information tech , globlization, etc , etc... Now think of all the linkages those changes have made.
So long as the losses are only on paper so to speak there will be no major problems, but if the losses jump from paper to the real world all hell could break loose.
Here in australia there is a govt funded pension scheme, but policy for quite some time is to move people to self funded retirement via superannuation. A lot of that money has been invested in the sharemarket, and for the last few years everything has been good and even bad superannuation managers can look reasonable. But in the last few days the stockmarket has moved down to the same levels as the start of last year. So the next set of superannuation fund reports may put the wind up people, and get them worried.
Here in australia there are four major banks and I think they will be o.k. unless there have been creative accountancy , It's the smaller ones that worry me.
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