Party over?

China tells the US to shape up.

No doubt a “victory” for the Left.

Well done. Communists telling Capitalists what they should do…

Pity about all us folks working and actually making money.

Hope I’m wrong but Monday is going to be carnage.

    • Sean of Deer Park
    • August 7th, 2011

    G’day BB. Don’t despair about Monday, and the Markets.

    Regardless of what happens you’re in it whether you like it or not, as you have stock. So just sit on it now, don’t be foolish and offload. If it tanks, get your paycheck out and add to your portfolio while the prices are down. Whatever happens; you have a job, a wife, property and some type of super(?) for your long term future. It’s all good, BB.

    In my opinion, we need a second crash on a global scale to clean out the riff-raff and get the West back on track. It could be a bumpy ride, but your fortunes will flourish in the long term. A few months ago we talked about Gold investment on your blog. On my side of the fence, I rearranged a $150k portfolio with a preference to low risk stocks, Gold (45%) and some Bonds. It’s one egg in the basket I hope performs well over the next 5 years.

    I’d also say it’s worth keeping an eye on land values. For years, I have wanted to buy a property around Torquay/Jan Juc (near the beach with views). If the shit hits the fan, I will be watching with an eagle eye. I see potential and opportunity in what could be about to transpire.

    The people most at risk, are our parents who are either about to retire (or have already), living off their own Super investments. Be prepared to help them out financially if they get into trouble in the short term. The way I see it, the real tragedy is the failure of all previous governments to ensure a secure future of the “baby boomers”, as this is the demographic that will be most affected, with no chance of recovery caused by any downturn.

    • I’ve lost 10% is the past two weeks. Decided to cash out. There’s probably around half in there compared to what I’ve pumped in. Had a gut. Will look at reinvesting in the future, maybe with a different mob as the people I was with just don’t get it in regards to what’s going on politically, both on a domestic and international (incl. global warming) level.

      A damn shame but enough’s enough. They didn’t even suggest moving to some kind of low risk (e.g. gold/bonds) strategy.

      I began investing mere months before the first GFC and needless to say, it has been one completely shitty experience.

        • Sean of Deer Park
        • August 7th, 2011

        In the last three months I have closed off a “Perpetual” account, as in my experience it incurred huge fees and risked everything, not to my advantage (this is for your future reference and in my own humble opinion, of course. :lol:)

        Seriously though; you’re cashed up. Good. Keep an eye on what happens and think about buying in on a “Bear Market” with maybe half of what you have recouped. Just get yourself an Aussie Commsec account, add your super and give your Mum, Power of Attorney, to make quick changes on your behalf at the local bank back home if needed.

        I remember the crash in the 80’s and my best mates dad was buying while everyone else was madly selling. He made a handsome sum at the time, which paid for his kids higher education, his house, car; and then the bugger won tattslotto as well! Some people have all the luck, eh 😆

        Anyway, at least you know as of today where you stand. Take a breather and have a think about what your next move will be. Also, on the up side, if the market tanks, Gillard’s Carbon Dioxide Tax is dead. A major distraction and game changer, no doubt.

        • Cashed up kinda. Remember, it wasn’t long that I was investing so it’s nothing like the 150K you have there. Without revealing too much, had it not been a shitstorm the last 3 years, conservative estimates would have that final balance at 3x what it is presently.

          Am thinking term deposits.

          Was thinking the same re the Super, btw. Was lucky the old lady had her ear close to the ground and reactivated my Super with a small contribution just before Swan swiped $700 billion from inactive (read: expat’s) Super accounts, the sneaky dog.


          In Korea, they’re onto government ripping our Super too. hence, many young folks have private Super funds… something to look into whilst on “vacation”.

            • Sean of Deer Park
            • August 7th, 2011

            Term Deposits = good. Safe.

            I had my daughter do this as well when she purchased her first house two months ago, the idea being to offset interest charges on her small mortgage, make a bulk payment on the house when it matures. Gotta think about 5 years from now.

        • PS In another momentous 🙄 decision, we’ve both decided we don’t have the heart to chop little Aslan’s balls off soon. LBB is currently scouring the intertubes for some, ahem, hot pussy.

            • Sean of Deer Park
            • August 7th, 2011

            Go Azzy!!!!

            • Merilyn
            • August 9th, 2011

            Just remember bing and lady bing that Aslan being a male, will more then likely spray urine on the walls to mark out his territory, there is a way to stop this but for the life of me can’t remember what I was told, think it was something to do with first spraying all your walls with a deterrent, the male cat doesn’t like the smell and stops doing it. Think it may be one of the cleaning agents.

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