11 thoughts on “Monday Message Board on Tuesday”

  1. Anyone have any opinion on whether the changes to aboriginal work for the dole represent a belated acknowledgement of the real plight of bluecollar, particularly aboriginal workers, or just more welfare bashing and attempts to razor welfare spending. Refer Sarah Smiles article in todays “Age”

  2. Huge fall in the Aussie dollar on Monday night. Surprigingly huge drop in interest rates on Tuesday. Makes you wonder whether someone let the cat out of the bag, no?

  4. http://www.guardian.co.uk/business/2008/oct/05/wall.street.bailout

    Fears are mounting that many Wall Street banks and financial firms will refuse to participate in the US government’s $700bn bail-out package, leaving global markets and world economies in a perilous state for months to come.

    ‘There is a growing feeling that banks … might instead decide to tough it out,’ said Thomas Caldwell, chairman and CEO of Caldwell Financial, a $1bn-plus fund manager.

    …

    Last Monday, after the bill was thrown out by the House of Representatives, more than $1 trillion was wiped off the value of US stocks as the market was gripped by panic. The bill was passed on Friday afternoon, however, after the inclusion of $149bn of tax breaks and strict rules for participating banks.

    But Wall Street analysts, believe the addition of so many terms to the bill might deter potential participants.

    One of the least attractive elements is a section designed to curb executive pay at banks that participate in the bail-out package. These include limiting stock-related pay and banning ‘golden parachutes’ for executives.

    ‘I think this hodge-podge of regulations and rules will be enough to put many [chief executives] off participating,’ Caldwell said.

  7. Question for all:

    In a world where all assets are overvalued, and Australian bank deposits are not guaranteed, how do I preserve my hard-earned savings?

    I’m not looking for a great return, just the lowest risk possible.

  9. Booze, rolly tobacco, toilet paper, meds, rice and tobacco papers as well, al.

    Hope that helps carbonsink.

  10. Carbonsink,

    Short term…..beachfront land
    medium term….foot hills and mountain land
    long term……Antartic land (Australian Qaudrant)

    Hope that helps.

  11. The Australian dollar traded in a three cent range against the US dollar yesterday.

    Meanwhile Suncorp (and I’m sure many other financial institutions) sets their exchange rate once a day. What happens if the $A moves up two or three cents between the tiem they set their daily rate and when they have to settle with their overseas counterparties?

    Anyone remember the technical term for this kind of risk?

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