News Coronavirus Thread

[Del191229]

Mining, in particular uranium production, is something that should be looked at more closely.

In terms of state ownership or something that should be done?

 

[GarnerSmash]

Exactly, it has been froth on the bubble for months now.

From October 19 to January 20 my super had increased roughly 15% in value, so my fund must have some pretty good market analysts in place.

All that has now been wiped though.

 

[Kangaroos4eva]

We're going to dig him up and burn what's left.

 

[krakouers]

We're going to dig him up and burn what's left.

Comrades, why burn the ancient past when we need to burn the shackles holding back the proletariat....

Edit: Dear ASIO, I know you are reading this, these are the ramblings of a crazy man. Dont raid m....

 

[Kangaroos4eva]

Comrades, why burn the ancient past when we need to burn the shackles holding back the proletariat....

Edit: Dear ASIO, I know you are reading this, these are the ramblings of a crazy man. Dont raid m....

Whitlam and co. cleaned out most of those right-wing nutters from ASIO decades ago.

 

[arden station]

I'm on your side arden station but honestly, you know it will be the opposite, they will encourage mining investment so they will continue to minimize taxation on the industry

Should have happened years ago but look at what the blow back has been from minor increases (Carbon tax, additional resources tax etc)

Comrade, our glorious revolution will just have to wait a few more weeks

The Rudd attempt was not well planned and met with huge advertising $$ from the resource industry as we all remember. I think there's now broader support that multinationals/corporates - whether they be resource companies or not - pay tax at fairer rates and not avoid tax.

The tax base is obviously about to be seriously gutted and expenditure will go through the roof. You're right, the resources industry will lobby hard again to minimise tax on the basis of encouraging investment and its tentacles run deep in Canberra including through both parties - Martin Ferguson and Ian McFarlane being examples. But neither side of politics will want to carry the burden of huge deficits and endless austerity. And within both parties there are groups/factions who do support resource tax reform.

 

[Del191229]

From October 19 to January 20 my super had increased roughly 15% in value, so my fund must have some pretty good market analysts in place.

All that has now been wiped though.

My old editor in Scotland's husband was former hedge fundie, the bloke who got into Astrophysics at Edinburgh Uni and after three weeks decided it wasn't for him and went back packing around the Middle East in the 80s lol. Came back, decided "How do I make as much money in as short a possible time" and become a hedgie.

I watched HBOS and RBS crash with him.

He taught me that you can always pick the fall if you're not too greedy. You'll actually know when it is too high and unsteady. People will be writing and talking about it openly. Experts too.

And that EVENTS always happen. The key is be aware that everyone else thinks there's another 20 per cent to be made, bu in reality they'll lose that 20 per cent and way more in a week when it crashes.

As our resident macro economist Snake_Baker - who has clearly read The Black Swans by Taleb knows - these things ALWAYS happen, Always always always.

So when people start saying this is a bubble, this is overvalued, there's been a 200 per cent gain since the last crash, just take the W and wait out the crash. Then buy again.

Even gone to the casino pissed to play blackjack and suddenly turned $200 into a $1000?

That's when you have to walk away. Because sure as shit if you keep sitting there, that $1000 will be $0 just as quickly.

 

[GarnerSmash]

My old editor in Scotland's husband was former hedge fundie, the bloke who got into Astrophysics at Edinburgh Uni and after three weeks decided it wasn't for him and went back packing around the Middle East in the 80s lol. Came back, decided "How do I make as much money in as short a possible time" and become a hedgie.

I watched HBOS and RBS crash with him.

He taught me that you can always pick the fall if you're not too greedy. You'll actually know when it is too high and unsteady. People will be writing and talking about it openly. Experts too.

And that EVENTS always happen. The key is be aware that everyone else thinks there's another 20 per cent to be made, bu in reality they'll lose that 20 per cent and way more in a week when it crashes.

As our resident macro economist Snake_Baker - who has clearly read The Black Swans by Taleb knows - these things ALWAYS happen, Always always always.

So when people start saying this is a bubble, this is overvalued, there's been a 200 per cent gain since the last crash, just take the W and wait out the crash. Then buy again.

Even gone to the casino pissed to play blackjack and suddenly turned $200 into a $1000?

That's when you have to walk away. Because sure as shit if you keep sitting there, that $1000 will be $0 just as quickly.

Yeah, and thats why I have cashed out now. It will fall, fall, fall.

And when things bounce, I will be there to drop my cash back into the market.

 

[Del191229]

Yeah, and thats why I have cashed out now. It will fall, fall, fall.

And when things bounce, I will be there to drop my cash back into the market.

Yep. And then the trick is to recognise the next precipice moment.

 

[Del191229]

Hmmmmm

 

[muttley45]

Got chatting with a plumber at the petrol bowser this morning, he was on his way to unblock his 4th of 5 dunnies for the day, lets just say some people who are getting really imaginative with what they think can be flushed down the crapper are now paying top rates to fix their mess.

 

[Snake_Baker]

View attachment 842443

I do chortle at these spoiled delusional ****s who correlate themselves with the working class oppressed.

 

[Tectonic]

Hmmmmm

He either drank the Facebook Kool aid or it's a convenient target

 

[Del191229]

He either drank the Facebook Kool aid or it's a convenient target

He's creating Facebook kool aid.

 

[Del191229]

Oh dear mouncey2franklin

 

[krakouers]

From October 19 to January 20 my super had increased roughly 15% in value, so my fund must have some pretty good market analysts in place.

All that has now been wiped though.

Yep. And then the trick is to recognise the next precipice moment.

Just curious though, whom are your super accounts with?

 

[Del191229]

Just curious though, whom are your super accounts with?

Mine is VicSuper

 

[B4Bear]

I knew it, you wannabe Mensheviks...

FWIW, I tend to agree that certain industries should be nationalised for the good of the long-term economy and for security reasons. This is coming from someone who sees the value in both leftist and centrist economics but strongly aligns with fiscal conservatism with bits of social democracy and economic liberalism to balance each other out. Mixed market basically.

Mining, in particular uranium production, is something that should be looked at more closely. Telecommunications is another. Even if we don't go full nationalisation, I would like to see corporate taxes (loopholes and enforcement) revisited immediately after all the industries have stabilised. I'm not arguing for massive increases, but I don't like some larger companies getting away with low taxes (or tax breaks) when they really don't need them and fiscal conservatism should be all over those issues in theory.

Anyway, this a discussion for another time...

Telecommunications, some consumer banking, national broadcaster (all hail the ABC), power, water, gas.

All should be under control of federal/state governments as appropriate.

 

[krakouers]

Mine is VicSuper

Thanks, I have AusSuper, doesn't seem to be hit as bad

 

[krakouers]

national broadcaster (all hail the ABC)

Call it left leaning but honestly the ABC really does help us when we have crises (especially as a formerly rural person)

 

[GarnerSmash]

Just curious though, whom are your super accounts with?

UniSuper

 

[Horizons_00]

If I were to guess I’d reckon it’d be because they didn’t take precautions early and that lead to a huge spike in infections overflowing the hospitals which lead to them deciding to not treat anyone over a certain age, giving them a death sentence.

So why arent we doing it then?

 

[ferball]

Call it left leaning but honestly the ABC really does help us when we have crises (especially as a formerly rural person)

In a serious disaster the abc, especially local abc is brilliant.

On Black Saturday '09 it was the abc that had the best info on the fires.

People were ringing the abc from kinglake saying "we just drove into town, the back half of the car has melted and the car behind us isn't there anymore, what's going on?"

The abc informed the CFA HQ in Melbourne and they had no idea.

I was listening online from up here and it was eye opening.

 

[giantroo]

 

[krakouers]

In a serious disaster the abc, especially local abc is brilliant.

On Black Saturday '09 it was the abc that had the best info on the fires.

People were ringing the abc from kinglake saying "we just drove into town, the back half of the car has melted and the car behind us isn't there anymore, what's going on?"

The abc informed the CFA HQ in Melbourne and they had no idea.

I was listening online from up here and it was eye opening.

Used to get the hourly bushfire warnings through the cricket, then halting the cricket broadcast if the shiiite got real, same with cyclones

Love the fact we have a national broadcaster for that fact