Problems with the EU

[Sojourner]

I came across an article talking about the likelihood that the restructure of banking in the US and the EU will push the value down of their respective currencies. What I found interesting in the article is that the author suggests that within a few years several countries may be no longer a part of the Eurozone because some of the other nations have had enough - Ireland, Greece and Portugal were the nations mentioned.

Interesting to look back on all that was promised with the one currency and so on and now it seems like the wheels are falling off, interesting times ahead for the EU one might think!

http://www.news.com.au/breaking-news/ca ... 6174390458

[mick]

The world is on the brink of a cataclysmic financial crisis, I've moved all my super etc from the stockmarket to cash, property is overpriced in Australia as well and we are undergoing a gradual correction at the moment. There is no doubt Australia is in a far better financial position than most developed countries, however this will be of little comfort to those who will be unemployed and see their equity in their houses evaporate. We are living in interesting times. This is precisely the wrong time to be introducing new taxes.

[Q.]

The world is on the brink of a cataclysmic financial crisis, I've moved all my super etc from the stockmarket to cash, property is overpriced in Australia as well and we are undergoing a gradual correction at the moment. There is no doubt Australia is in a far better financial position than most developed countries, however this will be of little comfort to those who will be unemployed and see their equity in their houses evaporate. We are living in interesting times. This is precisely the wrong time to be introducing new taxes.

Now is the perfect time to tax a booming resource sector.

[Mythical Creature]

The world is on the brink of a cataclysmic financial crisis, I've moved all my super etc from the stockmarket to cash, property is overpriced in Australia as well and we are undergoing a gradual correction at the moment. There is no doubt Australia is in a far better financial position than most developed countries, however this will be of little comfort to those who will be unemployed and see their equity in their houses evaporate. We are living in interesting times. This is precisely the wrong time to be introducing new taxes.

To crystalize your paper losses to an actual loss??

[mick]

Not necessarily I moved my investments to cash befor the last GFC, then bought back into the market when things began to improve in 2009 and I made money and I've done the same this time, the current rally won't last. If you have 20+ years to retirement you are right it may be best to ride out the storm, but I don't have that luxury.

[Squids]

Problem at the moment is Germany doing sfa.

[mick]

Maybe the long suffering and hard working German taxpayer has had enough of subsidising the PIIGS (Portugal, Irelan, Italy, Greece and Spain)? apparently French Banks are very heavily exposed in some of these basket cases so the next few months could be interesting.

[Psyber]

The world is on the brink of a cataclysmic financial crisis, I've moved all my super etc from the stockmarket to cash, property is overpriced in Australia as well and we are undergoing a gradual correction at the moment. There is no doubt Australia is in a far better financial position than most developed countries, however this will be of little comfort to those who will be unemployed and see their equity in their houses evaporate. We are living in interesting times. This is precisely the wrong time to be introducing new taxes.

I'm happy to sit on my shares and wait for eventual recovery which I think will come, here, even if the EU and US fall over and there is a temporary sympathetic crash on our market too.
So long as China holds up we will recover on our resources.

Apropos Quichey's comment: there may be a case for a Resources Tax but it would need to be coupled with a limit on Executive salaries as shareholders are getting very little now.
I'd also like to see Futures trading and short selling banned in the interest of world market stability, but I expect it won't happen.
There are too many fees raised by brokers on speculative share "trading" (read that as "gambling").

Similarly, I think property prices here will recover after a slump. The drivers here are not the same as those in the US.
The UK property market is recovering - I looked it over while there in May/June.
It may slump if the European Union collapses, but the UK property market could then boom if the UK is severed from the PIIGS by an EU collapse..
So I'm keeping my shares, and staying with cash until I think property here is near bottom, then backing property.
If there is any form of recovery cash will rapidly fall behind even though it is the best earner right now - so I agree with MC that cashing in now is realising your losses.
I'd be buying more shares now if I were not already heavy enough on that side of the investment ledger.

[Q.]

Apropos Quichey's comment: there may be a case for a Resources Tax but it would need to be coupled with a limit on Executive salaries as shareholders are getting very little now.
I'd also like to see Futures trading and short selling banned in the interest of world market stability, but I expect it won't happen.
There are too many fees raised by brokers on speculative share "trading" (read that as "gambling").

Wholeheartedly agree. Did we bump into each other at Occupy Melbourne

[Psyber]

Apropos Quichey's comment: there may be a case for a Resources Tax but it would need to be coupled with a limit on Executive salaries as shareholders are getting very little now.
I'd also like to see Futures trading and short selling banned in the interest of world market stability, but I expect it won't happen.
There are too many fees raised by brokers on speculative share "trading" (read that as "gambling").

Wholeheartedly agree. Did we bump into each other at Occupy Melbourne

No, but if I had been in Melbourne I may have turned up there.

[dedja]

The Greeks look like playing out another tragedy ... they want a referendum on the Euro bailout.

LOL, beggars can't be choosers FFS

[Dirko]

Mt Italian next door neighbour always says this...

"If you meet a Good Greek, shoot 'em before they turn bad"