You just make a deposit MM?

Good to see the Banks acting quickly MrB...( wink )

great figures released, better than expected.

MrBen, you got that one wrong.
quote...22 Nov

The aust economy is slowing considerably as evidenced by the interest rate cut.  Far from being "good" news it indicates the economy needs stimulus.


you must have lost a few dollars if your favorite past time was trading in the AUD up from 96 cents to near 1.03 since you started this thread.

megsy, plz try to be accurate.The AUD fell to 96 AFTER I started the thread nd has since recovered.

re interest rates- the  economy is faltering thats why rates were cut and will be cut again in february.Mortgages will have a 5 handle sometime in 2012.

I just wonder where or how these figs are calculated.How old are they? Gotta be many months out of date or manipulated.

The resrve bank cuts rates in a down economy, not an up one- so why is the growth 3+% and they cut rates?


I  put forward its because they are using current data.They KNOW the economy is going downhill.

  Coming to you in 2012- retrenchments.So many will lose their jobs- esp if connected to retail.

MrBen...No, you get it right, the day you started this thread the dollar was trading just over 96 cents and you was happy to press the dollar will be below 90 cents soon, heading down to 60 centswith a heavy recession.


re interest rates- the  economy is faltering thats why rates were cut and will be cut again in february.Mortgages will have a 5 handle sometime in 2012
the RBA cut interest rates before the latest figures came out, their reasoning was to boost spending in retail and ease pressure on people with mortages.

the economy is doing quite well in most area's and not so good in others. dont you understand people have change their ways in saving and spending. People of Australia are saving not spending and need encouragement to spend, savings are at a 30 year high and this makes the banks stronger because they dont need to borrow as much overseas.

if theres fallout from the euro, Australia is in the bestest condition to ride it out.

the US government is the most clandestine and corrupt system in the world barr none

also megsy- if it "makes banks stronger' - why were the big 4 ALL downgraded this week?

your head is stuck in the statistical sand.

pull it out and take a look around.

and greedy bankers flatulate

The worlds a Ponzi

lets all hope the world is a better place, life goes on.

Seriously ,

European Union is on brink of collapse....a lay man can see that ffs

MrBen..silly man...

megsy- poor response, but up to you.

megsy- atill waiting for your interest rates analysis

ginger meggs do you have a speech impediment?...could you possibly have used scare monger/ing anymore?

village kid..plenty of scare mongers about, you should worry about your kiwi ecconomy before the aussie's....did i mention those 2 words "scare mongering on this thread?

ohh thats right i did say the words scare mongering

P2P- my feeling is that we will be dragged into recession by default.As you point out demand for our resourses is strong.Our economy has been riding high on it for  a number of years now.BUT that is at an end,iron ore prices are set to fall more in what will end up as a cascade effect on other metals etc.

   If europe goes belly up- and it will, less demand for chinese made  stuff, hence less demand for resources.Europe is the biggest customer of USA. USa is the biggest customer of china.You don't have to be einstein to work out the play.

  I made this thread with an eye to the future, clearly no one can predict the exact date or even month, but it will happen.

The brown/gilliard govt will have NFI how to manage the situation with their most likely response another tax of some sort- exactly the wrong thing to do. If you can guarantee anything these days its that no matter what persuasion they are, politicians can be relied on to make precisly the wrong move.


  No market can be framed as I believe we have already walked through the front door of recession.

megsy- you are losing credibility here after a promising start. It seems that unless you are  quoting stats there is not much to you. A bit shallow in your knowledge clearly.

   Maybe  you could contact BF and ask for your ID to be changed to  " vacuous megsy "

Gold- My shorts are so deep in the green after this weeks sell off. Will go lower.

AUD- short short short- headed into the 80's during 2012.

Stocks- get the hell out if you are still holding. If you don't 2012 will be your annus horibilis.

well put bas and thanks for reminding me.

It may interest you to know that Taleb is constantly poistioned in well out of the money options to the downside.He has stated that for a 1% investment the payoff can be several 1000% in a black swan event.

Give a man a gun..and he can rob a Bank!....Give a man a Bank...and he can rob the World!

Report by the Reserve Bank and no talk of a future recession

THE Australian economy will inevitably suffer spillover effects from the European government debt crisis, Reserve Bank of Australia deputy governor Ric Battellino says.

However, Mr Battellino says that with few direct trade links to Europe, strong government finances, and a resilient banking system, the country is well placed to withstand the impact of the crisis on the global economy.
In a speech to the Australasian Finance & Banking Conference in Sydney today, Mr Battellino said it was possible eurozone nations would be able to resolve the worsening crisis, otherwise the continent could face dire economic consequences in the next year.
"Other outcomes, including deflation caused by prolonged fiscal austerity, inflation caused by large-scale debt monetisation, or some disruptive event such as a change in the composition of the euro area, cannot be ruled out at this stage," he said.
Mr Battellino said Australian banks had very little exposure to European sovereign debt, with government bonds from the nations most at risk of a default: Greece, Ireland, Italy, Portugal and Spain, accounting for only 0.2 per cent of Australian bank assets.

Australia also had limited trade exposure to Europe with just 4 per cent of Australian merchandise exports going to eurozone countries.
However, the country may still suffer the consequences of a European downturn through higher borrowing costs for Australian banks and a slowdown in Asian economies, including China and India, both of which have with strong trade links to Europe."The large size of the euro-area economy and the significant role played by European banks in global cross-border banking mean that it is inevitable that there will be spillovers to other parts of the global economy, including Australia."
But Mr Battellino said if global economic conditions worsened, it was likely the value of the Australian dollar would fall, providing a cushion for the local economy.

"The large size of the euro-area economy and the significant role played by European banks in global cross-border banking mean that it is inevitable that there will be spillovers to other parts of the global economy, including Australia," Mr Battellino said.

He also said that a slower pace for Asia's booming economies might not be bad news for Australia in the longer run.
He said the rapid growth experienced by China and other Asian nations was not sustainable.

In some ways I think it is better for us in the long run that growth in Asia subsides to a more sustainable pace, and I think that is what we are seeing at the moment," he said.

Mr Battellino said Australian consumers appeared to have reached a new equilibrium following the global financial crisis.

Saving levels, which rose significantly following the crisis, had been largely steady for the past year but consumers were now spending less on goods and more on services.

"It has been quite an uncomfortable period for a lot of business, I understand that.

"But broadly speaking, household spending is roughly normal at the moment and that is a reasonably position to be in."

on a humurous note.....Why did the man tattoo a $100 bill on his old fella, so his wife could play with money, watch it grow and blow a $100 without even going shopping.