ASX expected to fall around 5% at the open of trade tomorrow following Wall Street and other markets. That’s a huge adjustment and will affect businesses, finance, consumers and just about everyone with retail super or a SMSF.
Surely just another inch to the right isn’t too much to ask. 
From a monetary perspective, there is a part of me that is selfishly hoping looney tunes is some how on the money, and everything will boom in time with his logic…but his past record as a financial guru ain’t great…and with all the financial experts saying other wise…it’s kinda like asking a Doctor of Psychiatry to tell a Neurology Surgeon how to dissect a complex brain tumour.
According to a article on the ABC.
Over 50 narions have approched the Trump Administration,in the last few days.Trying to renegotiate trade deals.
Absolute train wreck now, the markets are in free fall, the US economy will be going into a recession…and the global one probably as well. Big big powers on Wall Street won’t be happy with trillions lost and more to go with terrible policy , Musk is quitting early and its a horror show already.
[quote=“BC post=241660 userid=892”]I’ve got a helluva lot more super than that Flagster but fortunately, as I approach retirement I recalled the chaos of the last Strumpet administration and restructured my port folio at the start of the year to only be exposed to 20% local and overseas shares.
Even still it’s dropped quite a decent chunk of change on paper, but I’m going to ride it out for a while longer as it only becomes a loss when I sell out. My biggest fear is that global trade as we once knew it is gone for good and the prosperity we all enjoyed is a thing of the past.
It certainly is now for developing countries like Bangladesh, Cambodia and even Vietnam who will more than likely turn towards China thanks to Trump.
It’s a very dark day when I can say that I now trust China more than the US.
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Plenty now feeling the same, rational economic players in China, which is why they Japan and South Korea and banding together to go against the US, something never seen before.
It started to cross my mind as well, that we junk Trump and team up with China, like Japan after all they are far more important to trade to us. Paul Keating sounded like he was onto something.
COMMSEC have warned clients their website has crashed due to sales activity not seen since the GFC
South Korea have suspended their Stock Market, due to impending collapse
VRI Fear Index has now passed the GFC level.
Standard and Poors have 60% chance of US recession this year.
AUD has dropped to lowest in 5 years. ( COVID Levels )
Amazing during the GFC the gov was doing all it could to try and prevent a crash, this time they have actually caused one.
Trump might get taken out by Wall Street.
Like Keating once said, it’s the recession we had to have. The rest of the world has been freeloading off the US for decades. Trump has said ENOUGH and everyone is having a little cry. Bad luck. You’ve had it too good for too long. That’s what Uber loving Taxi haters love to say to the taxi industry. Chickens coming home to roost. Karma bus often late but comes around eventually.
Relax everyone , Trumps playing golf (again) while working folks retirement savings are being smashed and global markets are being wiped out on the brink of another GFC…based on his idiotic global trade war on penguins plan drafted by some grade 5 kid. what a moronic disaster this guy is…we tried to warn you, anyone missing the old sleepy guy yet?
Hows peace in Ukraine and GAZA working out?
Very good video by the PM of Singapore on whats going on.
[quote=“Bazza post=241758 userid=872”]Relax everyone , Trumps playing golf (again) while working folks retirement savings are being smashed and global markets are being wiped out on the brink of another GFC…based on his idiotic global trade war on penguins plan drafted by some grade 5 kid. what a moronic disaster this guy is…we tried to warn you, anyone missing the old sleepy guy yet?
Hows peace in Ukraine and GAZA working out?
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Lol, Donald has probably been ordered by his doctor and those close to him to take a few days off. He’s a workaholic who barely sleeps.
[quote=“Bazza post=241760 userid=872”]Very good video by the PM of Singapore on whats going on.
https://www.youtube.com/watch?v=0vWXK97VSz8
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Singapore relies on two things. Shipping and it’s airport gateway to the world.
So the ways of the financial world is changing gears. Seems those that rely on free trade in their Super do very well. Those on low incomes and big mortgages get left behind.
Donald Trump has thrown a spanner in the works on free trade because in his opinion other nations have been taking the piss. While we are hearing billions are being wiped off all these indexes and everyone is blaming Donald, big ears Chalmers has revealed a silver lining. He is predicting several rate cuts are on the horizon including 5 basis points when the RBA next meets.
So maybe a win for the battlers on mortgage relief. Thanks Donald.
Yeah great the average home owner with a mortgage will save $200 a month if the RBA drops the cash rate by 50 basis points.
But what are the other effects of a slowing economy that has lead to the drop in rates, lower wages, increased unemployment. The average punter won’t be better off and may even be worse off. We still have a skilled labour shortage and a shortage of housing thats forcing house prices up and also rental prices. The Don is not fixing that!
if there’s a recession and the financial experts are saying it’s unavoidable it’s just how far and for how long given what Trumps doing then lots of people will be far worse off. If there’s a recession top end of town is hurting you can guarantee the little guys will be too
Professor Will T Kelley did repeatedly say,”Trump was the dumbest goddam student I’ve ever had”so if the clueless fools involvement in the bankruptcy’s of casinos wasn’t enough proof,the current unprecedented catastrophic freefall of the financial markets are surely the exclamation mark,although his imbecilic supporters STILL think he’s a genius.
Hahahaha. I love your work RL. :-). I jump on here with great anticipation to have a read of your latest rant at the Strumpet and his sycophantic supporters.
I was just at my GPs and wound him up by mentioning the orange buffoon as well. I hope his office is sound proof as his other patients in the waiting room would have got an earful, all the while I’m just about wetting myself.
[quote=“royallucky post=241782 userid=2921”]Professor Will T Kelley did repeatedly say,”Trump was the dumbest goddam student I’ve ever had”so if the clueless fools involvement in the bankruptcy’s of casinos wasn’t enough proof,the current unprecedented catastrophic freefall of the financial markets are surely the exclamation mark,although his imbecilic supporters STILL think he’s a genius.
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I was watching the opening of Wall Street last night on Bloomberg and just before they had an interview with Navarro the grand architect of this train wreck, jeez if you think Trump is dumb you should hear him, he’s an ex jail bird in the top commerce seat, apart from repeating the lie hat foreign pay tariffs , he then went onto say that even if a country was droppeed to zero tariff v US they would still be punished, apparently also you can build a whole car plant in the same time as a facemask plant, another thing is one part of them are saying its a negotiating tool, the other is saying its permanent to raise money for the big tax cuts. You cant have both…
[quote=“Tiger Tales post=241779 userid=2522”]Yeah great the average home owner with a mortgage will save $200 a month if the RBA drops the cash rate by 50 basis points.
But what are the other effects of a slowing economy that has lead to the drop in rates, lower wages, increased unemployment. The average punter won’t be better off and may even be worse off. We still have a skilled labour shortage and a shortage of housing thats forcing house prices up and also rental prices. The Don is not fixing that!
if there’s a recession and the financial experts are saying it’s unavoidable it’s just how far and for how long given what Trumps doing then lots of people will be far worse off. If there’s a recession top end of town is hurting you can guarantee the little guys will be too
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Yep, how is the average self funded/pensioner retiree feeling at the moment, he’s super has been hit by a 12% fall, his cash savings are about to take an interest rate hit, and now a recession is on the cards meaning recovery will be slow, prices coming down during a global trade war? not likely, on top of that his travel plans just got a lot more expensive with a AUD worth .59 US Cents and .46 GBP! Winning.
I’ve kept out of this argument/discussion, but after seeing another chunk of my super disappear into fresh air I’ll make a small comment. Thanks a fkn lot Don!!!
[quote=“BC post=241785 userid=892”]Hahahaha. I love your work RL. :-). I jump on here with great anticipation to have a read of your latest rant at the Strumpet and his sycophantic supporters.
I was just at my GPs and wound him up by mentioning the orange buffoon as well. I hope his office is sound proof as his other patients in the waiting room would have got an earful, all the while I’m just about wetting myself.
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I’m glad I’m providing you a bit of entertainment BC,but a lot of my comments are borne out of frustration,as to why people can’t see the blindingly obvious,and the only positive for me is that his idiocy hasn’t hit me in the Sky rocket yet!!unlike a few people I know,and even though I predicted a shit show,even I underestimated the severity of the current carnage.
I’m glad I’m providing you a bit of entertainment BC,but a lot of my comments are borne out of frustration,as to why people can’t see the blindingly obvious,and the only positive for me is that his idiocy hasn’t hit me in the Sky rocket yet!!unlike a few people I know,and even though I predicted a shit show,even I underestimated the severity of the current carnage.
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I love how you think you have it all worked out Royal! People must tell you all the time that you are way ahead of the curve.
I love how you think you have it all worked out Royal! People must tell you all the time that you are way ahead of the curve.
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Compared to you TFAF,I’m a member of Mensa.