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AusGAF 3.0 - Double the price, region locked and refused classification
- Thread starter VOOK
- Start date
roosters93
Member
ClivePwned said:
Yeah I was going to get one of those but decided not to because the fees were greater than using my normal Mastercard debit card. Now I'm a bit annoyed at myself.
FormallyMegadrive
Member
roosters93 said:
My girlfriend got one last week with $1000 AU on it (can't remember how much US).
When things bottom out, the dollar will start creeping up again. This isn't the new normal. Unless something catastrophic happens to us specifically during this crash, we're still basically in better shape than the US, and that will be reflected in the dollar when the panic subsides.
This is all you need to know: http://www.smh.com.au/opinion/blogs...tdown-in-rhyming-couplets-20110808-1ijd2.htmlRezbit said:
"Well all be rooned," said Hanrahan,
In accents most forlorn"
The Dow is done, the FTSEs farked
The ASX is gorn!"
ClivePwned
Member
scary economic times.
So long as Channel 7 doesn't re-run those awful ads
"We're gonna get through this"
So long as Channel 7 doesn't re-run those awful ads
"We're gonna get through this"
roosters93
Member
Fredescu said:
BUT WHENNN
ClivePwned
Member
Doncamatic
Member
jambo said:
PARTY AT JAMBO'S PARENTS' HOUSE!
Rezbit said:
Not sure if serious but its globalization.
US is seen as the number 1 economy in the world and so investment in US Treasury Bonds is seen as a secure investment. As Bernake said the other day, the US will never default. We will just print more money to pay the bills.
So by investing in US Treasury Bonds which have a yield rate of 2.5% despite being low, it still remains a very secure investment.
The Australian dollar is a very volatile currency. When the going gets good, AU Dollar does well and we have been helped by the fact our interest rates have been sky high compared to the rest of the developed world.
Also we are a very resource driven economy. If people aren't building things, then resources are not needed and thus the price on the market of resources drops and our economy becomes less attractive.
The big problem about this new GFC if it happens is that its Governments. 2008 was business that the Governments bailed out however the Governments are now in trouble BECAUSE they bailed out the businesses and went into massive debt to do so. So who saves the Governments? No one can and that is the issue.
If we let the 'too big to fail' companies fail we would have had huge pain for a period of time, but the Governments of the world including the Eurozone wouldn't be as fucked as they are now. But we didn't let them fail and now the EU and US are paying the price.
The big problem with Europe is the Euro. The Eurozone has allowed nations with high debt and weak economies join the currency and now the strong economies including Germany are paying the price.
The reason the Swiss and UK are not fucked is because they didn't take the Euro. They are screwed just not as much, and will be ok through this. Germany on the other hand is screwed, and from what I hear want to bring the Deutsche mark back asap. The Euro as a currency is a failure, because the EU let nations they probably shouldn't have in to the currency when their economies were on unstable ground.
Thats how i read it, but i am no economist, just read the fin review and read a bit of market analysis.
We lost parity briefly before midday and it's been up and down all day. Right now we are still above.
And I don't think you mean shorted, because you only gain from shorting when markets go down. Since they've recovered, they would have lost some of that gain. But I doubt anyone is shorting or longing, everyone is scared and running for cover.
Edit:
And I don't think you mean shorted, because you only gain from shorting when markets go down. Since they've recovered, they would have lost some of that gain. But I doubt anyone is shorting or longing, everyone is scared and running for cover.
Edit:
Heh, yeah I hate economics. General macro stuff is alright, but shit gets really confusing past 2nd year subjects.Jintor said:
Marshmellow
Member
jambo said:
Mythical non-existent place that inhabitants of Sadelaide have conjured to remain sane and happy.
Marshmellow
Member
jambo said:
Where is my google +1 button for this
FallbackPants
Member
Jintor said:
I tried once. I studied it at uni for about a year. I found the theory to be really, really interesting, but the actual mathematical applications of them all to be ridiculously dry. Like wheat bix without milk levels of dry.
But I barely passed Maths B at school, so that would probably explain it
For the first time in a long ass while, maybe even a first time I don't know how I can actually do my job. They got rid of 2 people and put me in place of those so i guess I'm expected to do 2 people's jobs.
I just noticed that I have another 30 machines I need to run up when I thought I was close to being done.
I'm screwed.
I just noticed that I have another 30 machines I need to run up when I thought I was close to being done.
I'm screwed.
I get paid in USD for my games' royalties, so there's still one upside for me in the AUD sliding.
Speaking of which, the Scottish Starer featured my next game, even though you can't buy it in Australia, but any publicity is good publicity nonetheless:
http://www.kotaku.com.au/2011/08/show-and-tell/
Speaking of which, the Scottish Starer featured my next game, even though you can't buy it in Australia, but any publicity is good publicity nonetheless:
http://www.kotaku.com.au/2011/08/show-and-tell/
commanderdeek said:
deek there is no other explanation that the market recovered so quickly. It's ridiculous. People divested billions of dollars of shares very quickly this morning which tanked the market and are now buying back at lower prices
that is called shorting the market (i think). You are creating an artificial boom and bust on the market by the fact you can sell so much shit @ the same time.
Ventron said:
why cant you buy in Aus
COB? ABN?
also
What you do is sell someone a stock for "100 dollars" then when the price goes down to "80" you buy it and give the stock to them for "100"
There by making 20 dollars
Explanation of shorting. Exactly what happened today. Won't be long until ASIC bans it on the ASX again temporarily if it keeps up.
It's just market correction. People lose their shit over news and lose confidence so they sell. But then you get other investors coming in looking for bargains, which drives prices back up. This keeps going until a sort of equilibrium is reached which reflect fundamentals rather than reactions to events.
Shorting creates bubbles, yes. But shorting is basically selling something you don't own in the hope to buy it back in the future for less, hence making a profit. People only short something when they believe it will fall.
Note: I am not an expert either lol
Shorting creates bubbles, yes. But shorting is basically selling something you don't own in the hope to buy it back in the future for less, hence making a profit. People only short something when they believe it will fall.
Note: I am not an expert either lol
I'm not 100% certain, but that wouldn't happen either. Because when you're shorting, someone has to take the other side of the trade. If everyone knows its going to tank, everyone will just sell and not let you borrow shares to short.Choc said:given that the prediction was @ least a 5% fall today and carnage on the markets, i'd say the shorters were in fine form today
Man this is too intense, NO MORE SERIOUS ECONOMIC DISCUSSIONS!
Box of Bunnies
Banned
Choc said:
XBLIG
Australian shares made a remarkable turnaround to be flat after falling as much as five per cent during the morning.
At 1445 AEST, the benchmark SP/ASX200 index was up 2.8 points, or 0.07 per cent, at 3,988.9, while the broader All Ordinaries index was down 8.1 points at 4,048.6 compared with Monday's close
Recovered todays loss Fred
At 1445 AEST, the benchmark SP/ASX200 index was up 2.8 points, or 0.07 per cent, at 3,988.9, while the broader All Ordinaries index was down 8.1 points at 4,048.6 compared with Monday's close
Recovered todays loss Fred