Australia's stock market fell another 3 per cent to a long time low on Friday, with financial firms plumeting, on fears that more credit market colapses vaulting the US into a Great Depression unheard of since the 1930's. This is murdering the global economies, and Australia is going down with it.
THE Australian share market is in a quandary with confidence badly sapped by bad news about reckless lending and pyramid investment here and overseas, leaving all but the sickest investors running to the banks to get what little money they have left when share losses approached hundreds of billions.
As another volatile session stripped huge percentages yesterday, stock advisers were at a loss to explain the steep drops, saying investor resilience had been shot to pieces with a complete absence of institutional buying, made worse by a massive hedge fund short selling continuing to feed off the dismal sentiment. According to reports out of Sydney's financial district, spectators saw at least several people leaping from tall buildings.
The benchmark S&P/ASX 200 index dropped 163.6 points to 5,271.9 by 0044 GMT, its lowest level since the Great Depression and after falling again in the previous session.
New Zealand's benchmark NZX-50 is at it's lowest levels ever.
Australia's stocks fell, rounding out the Australian All Ordinaries Index's biggest weekly loss in two decades, after U.S. foreclosures reached a record and commodity prices dropped. American consumers are ditching the dollar for gold at a time when the world is selling off huge gold reserves. Economists haven't evaluated the long-term impact of this yet, but one American economist, Dr. Fishkind, said: This ain't good; Ain't good at all!
National Australia Bank Ltd. tumbled to a three-year low, leading financial companies lower, on concern of massive home-loan defaults, as is happening in the US, will provoke huge credit losses. BHP Billiton plummeted for the first time in four days after a decline in metals prices.
Margin calls were at a record high and investors saw their retirement funds and long term investments vannish into thin air. Babcock & Brown reported that "there's no end in sight."
Gentle_Tenant
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The tenant is hoping that this vortex finishes a few rapacious landlords as well. Jump! Jump! Jump you filthy bastards! |
Ricardovitz
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I wrote that...forgot to put my name to it. Anywho, I'm hoping for the same thing. Got plenty of money and land, and looking to pick up some more real cheap. There are plenty of tenants out there looking to become my slaves. |
Gentle_Tenant
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Should have known it was you ape-boy. Seeing as you are so determined to steal decent folks' money, why not get your Jesus demon to do it for you? No point putting in any effort at all when demonic forces from Disneyland can do it all. While Jesus is out there father-raping and pig-kissing on your behalf, you could be lying in warm mud with your favourite pig, just as happy as a pig-boy in warm pigshit. |
Donga
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Here's the Hillybilly translation but with Ricardoshitz spelling errors corrected: Bad Noos Fo' Aussie Investo' Blokes..... Aestralia's stock market fell t'other 3 per cent t'a long time low on Friday, wif financial firms plummetin', on fears thet mo'e credit market collapses vaultin' th' US into a Great Depresshun unheard of on account o' th' 1930's. This hyar is murderin' th' global economies, an' Aestralia is gwine down wif it. THE Aestralian share market is in a quan'ary wif cornfidence badly sapped by bad noos about reckless lendin' an' pyramid investment hyar an' on overseas, leavin' all but th' sickess investo's runnin' t'th' banks t'git whut li'l money they haf lef' when share lostes approached hundreds of billions. As t'other volatile sesshun stripped huge percentages yessuhterday, stock advizzus were at a lost t'explain th' steep drops, sayin' investo' resilience had been shot t'pieces wif a complete absence of insteetooshunal buyin', made wo'se by a massive hedge fund sho't sellin' corntinuin' t'feed off th' dismal sentiment. Acco'din' t'repo'ts outta Sydney's financial districk, speckato's sar at least sevahal varmints leapin' fum tall buildin's. Th' benchmark S&P/ASX 200 index dropped 163.6 points t'5,271.9 by 0044 GMT, its lowess level on account o' th' Great Depresshun an' af'er fallin' agin in th' previous sesshun. Noo Zealan''s benchmark NZX-50 is at it's lowess levels evah. Aestralia's stocks fell, roun'in' out th' Aestralian All Ord'naries Index's mos' trimenjus weekly lost in two decades, af'er U.S. fo'eclosures retched a reco'd an' commodity prices dropped, cuss it all t' tarnation. South Car'linan cornsoomrs is ditchin' th' dollar fo' gold at a time when th' wo'ld is sellin' off huge gold resarves. Economists ain't evaluated th' long-term impack of this hyar yet, but one South Car'linan economist, Dr. Fishkind, said: This hyar ain't fine; Ain't fine at all! Fry mah hide! Nashunal Aestralia Bank Ltd, cuss it all t' tarnation. tumbled t'a three-year low, leadin' financial companies lower, on corncern of massive home-loan defaults, as is happenin' in th' US, will provoke huge credit lostes. BHP Billy Joeiton plummeted fo' th' fust time in four days af'er a decline in metals prices. Margin calls were at a reco'd high an' investo's sar their retirement funds an' long term investments vanish into skimpy air. Babcock & Brown repo'ted thet "thar's no ind in sight. |
Ricardovitz
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Now, you just go run 'long and play with some yer own kind. Your just all pissy and such that your losing your ass and I got my eyeball on Some of that Tasmania land (you know, where you done already cleansed it of Aborigionies) fer $20/acre. Yep, i got my eyeball out on that bit of green. |
