How's that retirement penson going?

[earthdome]

4 hours ago, GeoffH said:

The property market in Australia is very quiet right now but it isn't dropping in value, unlike the markets. 

I'm still not sure what's going to happen with the 'under offer' sale for my investment property here I will know later this week.

I'm reading that the banks are getting short of available money to lend which is a bit worrying.

That is a concern and likely applies to the US as well. Fortunately my buyer has cash and doesn't require a loan.

[hk blues]

5 hours ago, earthdome said:

That is a concern and likely applies to the US as well. Fortunately my buyer has cash and doesn't require a loan.

Isn't that why the Federal Reserve released a huge wad of cash into the market earlier in the week, as well as reducing interest rates?  Same as the UK Govt. did the middle of last week. 

[GeoffH]

4 hours ago, hk blues said:

Isn't that why the Federal Reserve released a huge wad of cash into the market earlier in the week, as well as reducing interest rates?  Same as the UK Govt. did the middle of last week. 

I think that's the intent, however the Australian Reserve Bank is yet to do that.

There is pressure upon them to move sooner rather than later and not just interest rate cuts (which they did do).

Their choices is putting more and more pressure on the Aussie dollar which is ending up lower each day.  It's down to 31 pesos from 41 a year ago with no sign of rising.

Of course the reserve probably think it's good because it might get Australia a bigger share of the shrunken steel, coal, uranium and other resources markets but it's really hurting people importing or sending money overseas.   And it's making it even harder for people livin on superannuation income or similar.

Edited March 18, 2020 by GeoffH

[hk blues]

39 minutes ago, GeoffH said:

I think that's the intent, however the Australian Reserve Bank is yet to do that.

There is pressure upon them to move sooner rather than later and not just interest rate cuts (which they did do).

They're choices is putting more and more pressure on the Aussie dollar which is ending up lower each day.  It's down to 31 pesos from 41 a year ago with no sign of rising.

Of course the reserve probably think it's good because it might get Australia a bigger share of the shrunken steel, coal, uranium and other resources markets but it's really hurting people importing or sending money overseas.   And it's making it even harder for people livin on superannuation income or similar.

It's quite strange that the Federal Reserve policies are not any different from the UK's yet the dollar rises and the pound falls.  Something to do with the dollar being a safe haven in troubled times.  The GBP v PHP tends to follow the same trajectory as GBP v USD, unfortunately.

[stevewool]

Sod it , I have looked and it’s not as bad as I thought ,it’s the initial shock of the stock market in turmoil and seeing it all on tv, yes I have lost and it could get worst but life has to go on and it will recover one day.

[Old55]

51 minutes ago, stevewool said:

Sod it , I have looked and it’s not as bad as I thought ,it’s the initial shock of the stock market in turmoil and seeing it all on tv, yes I have lost and it could get worst but life has to go on and it will recover one day.

This too will pass. In time the market will move forward. Way too much media driven hysteria people are not thinking rationally.  

[Dave Hounddriver]

Its not all bad news.  Shares in grocery stores and toilet paper manufacturers are at a high.

[Mike J]

5 hours ago, stevewool said:

Sod it , I have looked and it’s not as bad as I thought ,it’s the initial shock of the stock market in turmoil and seeing it all on tv, yes I have lost and it could get worst but life has to go on and it will recover one day.

I am still not looking. Steve, you are such a pussy.   

[RBM]

On 3/17/2020 at 5:43 AM, GeoffH said:

 

Aussie dollar is at it's lowest for a long long time.

 

Talk of the tanking Kiwi$ reaching polarity with the Aussie.....how low can the Aussie go??? 

[Huggybearman]

The British Pound is faring no better!