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Markets Live: Iron ore slump weighs

Date

Patrick Commins, Jens Meyer

Shares fall as earnings season enters the final stretch, with BlueScope Steel an early casualty, while a further fall in iron ore prices hurts miners.

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  • The joke comment of the day has to be the one from Liberator, saying that no one ever said a word about property prices in the past, and it was only 2005 that they became too expensive.

    Good grief. Property prices have ALWAYS been too high. I looked at my first purchase in 1975, but decided it was overpriced and I would wait for the market to come back. It never did. I finally bought my first in 1983, an apartment in Sydney, and people said I was crazy. I shied away from a semi in Neutral Bay in 1987 because everyone agreed that $485k was ridiculous and the market would come back. Yeah right, but more fool me, I allowed myself to be talked out of it.

    Property has ALWAYS been expensive by the standards of the day and the standards of the past. Obscene property prices have ALWAYS been a talking point. Thank god I took the plunge in 1983, then again in 1992, then 1996, etc etc. If I hadn't then I guess I'd be a bitter man hanging around internet blogs predicting the mother of all crashes in the delusional belief that this would somehow achieve anything other than a waste of my time.

    Commenter
    pass the red
    Date and time
    August 25, 2014, 5:03PM
    • AGL was 1% higher.........don't think so ED

      EDs: Hmmm... yes, thanks Rusty. ASX says down 3.2%, but Bloomberg says up 1% - we think they adjust price to incorporate the capital raising. Thanks for the heads up. Chrs

      Commenter
      Rusty
      Location
      Sydney
      Date and time
      August 25, 2014, 4:32PM
      • SMSF specialist Daryl Dixon has some advice for small holders of TLS in relation to the buyback. http://www.smh.com.au/money/investing/telstra-buy-back-good-news-for-some-20140821-106p2z.html

        Commenter
        mitch of ACT
        Date and time
        August 25, 2014, 3:50PM
        • 3.36pm. Ore price at US$90/tonne. What does that do for BHP share price? Two months ago when there was a similar 'shock', SP dropped to $35. Will we see that again?

          Commenter
          jacey
          Date and time
          August 25, 2014, 3:49PM
          • "As a result the value of both new and old apartments close to the city will fall 5 per cent in the two years to 2018, said its author Angie Zigomanis".

            Let me get this straight, we have to wait until 2017 to see a drop of 5%!!! Are you kidding me! How is this supposed to be good news for renters!!! So prices will increade all the way up until 2016? I thought prices were goign to crash?
            You people have no idea. No idea!!!

            Commenter
            angry
            Location
            renter
            Date and time
            August 25, 2014, 3:31PM
            • Just because you don't like the information doesn't make it wrong. A price correction has been predicted for over a decade. It will happen eventually. However its unlikely to alter rent prices much. Whether the house is worth $500,000 or $1 million its still a house that's one of limited stock and renters still all need a place to say. If anything, a housing price crash will possibly mean an increase in rental rates.

              Commenter
              Peter
              Location
              Oz
              Date and time
              August 25, 2014, 4:20PM
            • Like drought breaking rain it will come eventually

              Commenter
              Red Rooster
              Location
              Cold and Wet Back Paddock
              Date and time
              August 25, 2014, 4:41PM
          • Arrium!!! whats going on?! Dropping like its hot. But why???

            Commenter
            confused
            Date and time
            August 25, 2014, 3:23PM
            • You know why there will be an oversupply of apartments at Green Square? It is because the transport infrastructure is woeful for the area already and is a horrible place to live. Anyone who has driven down Lachlan Street at any time of the day or gone anywhere in Waterloo/Zetland during business hours on a weekend will know what I mean. How about you fix the roads NSW government before dumping 1000s of apartments on the area?

              Commenter
              DR
              Location
              Clovelly
              Date and time
              August 25, 2014, 3:20PM
              • Huh?!? It's walking distance to the CBD. Transport not an issue.

                Commenter
                Irish Phil
                Date and time
                August 25, 2014, 3:52PM
              • Apologies, I was getting confused with Central Park development in Broadway.

                Commenter
                Irish Phil
                Date and time
                August 25, 2014, 3:56PM
              • They are building a future Ghetto - wait, its here already

                Commenter
                Red Rooster
                Location
                Cold and Wet Back Paddock
                Date and time
                August 25, 2014, 4:38PM
            • I thought ETO MM's were obliged to make markets on all series. No bids or offers for FLT options. Will I have to trade the physical to exit my position come Thur? Looking at you Optiver and Timber Hill ..

              Commenter
              50BahtLeo
              Date and time
              August 25, 2014, 2:33PM
              • if you put bids or offers in at realistic prices , that will normally wake up the marketmakers

                Commenter
                Chris
                Location
                sydney
                Date and time
                August 25, 2014, 3:15PM
            • Bluescope plunges from $12 to 25c and the quadruples, yes 300% rise, it's a miracle, it's fantastic and it has surges and surged. It's an economic miracle! No, wait...

              Commenter
              Allan
              Location
              Prahran
              Date and time
              August 25, 2014, 2:26PM
                • As someone who bought some at $10 quite a while ago i find that just mean. sniffle...

                  Commenter
                  Elric
                  Location
                  Melnibone
                  Date and time
                  August 25, 2014, 3:11PM
                • So many miracles nowdays, I dunno what to do next. Trip to Lourdes? Maybe I can just Skype 'em and use my own tap water.

                  Commenter
                  Miracles n magic
                  Location
                  Jaxies Hole
                  Date and time
                  August 25, 2014, 3:26PM
              • Picked up some ANZ @ 33.23 and some CCL @ 9.18 today...Sold the last of my SBM @ .105 (and never going near them again, i promise)

                Commenter
                Wwwish Lion
                Location
                Melbourne
                Date and time
                August 25, 2014, 2:13PM
                • Why? why buy ANZ just before the big crash?

                  Commenter
                  Augur
                  Location
                  Sydney
                  Date and time
                  August 25, 2014, 3:15PM
                • CCL swap for SBM fare enough but really anything would have been...can they regain...hmmm very competitive sector that one

                  Commenter
                  BearshapedBull
                  Location
                  Mugpunters Lounge
                  Date and time
                  August 25, 2014, 3:26PM
                • Augur, small parcel in case the big drop isnt so big. Its still a buy back in after i sold out @ 34.53 a few months ago

                  Commenter
                  Wwwish Lion
                  Location
                  Melbourne
                  Date and time
                  August 25, 2014, 4:05PM
              • sold down 1/2 ORG @ 15.18 happy to take some off the table,been hovering since player1 had the big sell off last week but saw some more fuel in the tank...watching the cycle should be a buy back in sub 14ish some time soon. now watch it hit the roof...

                Commenter
                BearshapedBull
                Location
                Mugpunters Lounge
                Date and time
                August 25, 2014, 2:13PM
                • Yup, too pricey at mo, I'm watching it too...

                  Commenter
                  jacey
                  Date and time
                  August 25, 2014, 3:55PM
              • RE 1:32pm - A building boom in the inner Sydney apartment market is likely to peak in 2017 leaving the city with an oversupply of units

                The same oversupply the experts have been saying about Melbourne since 2005/06??? Population is growing fast... there will be no "oversupply" and they will keep getting snapped up. Too much overseas cash that far outweighs our tiny population's buying power.

                I think they just say these things each year to stop the next generation from rioting :P

                Commenter
                GS
                Date and time
                August 25, 2014, 2:12PM
                • Hey mitch Is an usual situation as well [bit like TLS] same smae but different....attractive?
                  As Acrux is a Pooled Development Fund,
                  Australian resident shareholders have two choices in relation to how to treat
                  the dividends for income tax purposes:
                  1. Include the franked dividend as taxable income and claim a tax credit for
                  imputed tax credit attached to the dividend, or
                  2. Not include the franked dividend as taxable income.

                  Commenter
                  BearshapedBull
                  Location
                  Mugpunters Lounge
                  Date and time
                  August 25, 2014, 2:05PM
                  • @BSB it all depends on your tax rate and tax status. If you are an individual and the sum of the tax payable & levies on the sum of the dividend income & franking credits is greater than the franking credits then you are better off taking advantage of the PDF provisions and not electing to declare If you hold the shares in an SMSF in pension mode then take the franking credits as no tax is payable if all of the assets of the fund are applied to earning pension income.
                    This refers: http://www.macquarie.com.au/mgl/au/advisers/products-platforms/platforms/macquarie-wrap/wrap-tax/technical-information/pooled-development-funds

                    Commenter
                    mitch of ACT
                    Date and time
                    August 25, 2014, 2:32PM
                  • thanks for that @mitch

                    Commenter
                    BearshapedBull
                    Location
                    Mugpunters Lounge
                    Date and time
                    August 25, 2014, 4:04PM
                • "A building boom in the inner Sydney apartment market is likely to peak in 2017 leaving the city with an oversupply of units"

                  Housing boom!

                  Commenter
                  Allan
                  Location
                  Prahran
                  Date and time
                  August 25, 2014, 1:58PM
                  • It's good to see that the ATO is cracking down on the cash economy. There must be 10s of $billions escaping the tax net through cash payments. I don't know how they are going to do it though. The ATO has sacked thousands of staff over the last year and tackling tax evasion by individuals requires a lot of effort. Now if they wanted to go after the really big $ in tax being evaded or avoided, with what staff they had left, they should be cracking down hard on the multinationals using tax havens and various forms of transfer pricing. At least the tax avoided by the cash economy is spent locally and creates further tax revenue from wages and profits as it is spent. Once tax avoided by the multi-nationals goes o/seas its benefit to the economy is lost forever.

                    Commenter
                    mitch of ACT
                    Date and time
                    August 25, 2014, 1:38PM
                    • The ATO are chasing after the home cleaners and etc for $ 20 p/h, but let the big boys Google, Apple and the rest get away with billions !!

                      Commenter
                      Andrew
                      Location
                      Surfers Paradise
                      Date and time
                      August 25, 2014, 1:34PM
                        • Quite so Andrew.
                          Tax law targets the salaried while corporates please themselves

                          Commenter
                          vested
                          Location
                          interest
                          Date and time
                          August 25, 2014, 2:17PM
                        • Well said indeed...+1

                          Commenter
                          Mack
                          Location
                          Sydney
                          Date and time
                          August 25, 2014, 2:56PM
                      • Any one know whats happening witj IFL today. Up 5.7% at 1.22pm

                        Commenter
                        Sara
                        Location
                        Melbourne
                        Date and time
                        August 25, 2014, 1:23PM
                        • Loving the action on Orora and QUB this morning. Not loving BDR. Killed the upward trend in UXC by buying in a couple of weeks ago. Sorry...
                          There are still some great companies out there, it's not all doom and gloom

                          Commenter
                          doglover
                          Date and time
                          August 25, 2014, 1:01PM
                          • @doggie, yep great result from ORA was contemplating sell out while back but thought about it and saw the growth,good to accum on the dips confirmed now,have been eyeing Qube but was loaded on MXI, so sold out now. Goldies getting bit of tarnish...bearish trends with all the geopolitics not so good....was surprised friday and made an early grab on DRM to watch it rally all day by 9%...1 to keep an eye on...i feel they are on track for better things...BDR just a buy low/sell high for the 15% cycle 46ish to 54ish on/off...changed strategy from accum to cycle as the markets goes,happy trading.

                            Commenter
                            BearshapedBull
                            Location
                            Mugpunters Lounge
                            Date and time
                            August 25, 2014, 2:20PM
                        • So someone has an opinion that housing is overvalued? Wow, this is HUGE news. I've never heard anyone suggest that before.

                          Commenter
                          pass the red
                          Date and time
                          August 25, 2014, 12:44PM
                          • Often sarcasm doesn't work in writing, does here though. Nice job

                            Commenter
                            Elric
                            Location
                            Melnibone
                            Date and time
                            August 25, 2014, 2:56PM
                          • Thanks Elric, I thought so too. :-)

                            Commenter
                            pass the red
                            Date and time
                            August 25, 2014, 3:15PM
                        • The ASX is rigged, the younger generation is the most selfish ever, housing prices are going to hell in a handbasket, iron ore will be free soon...etc. Grumpy old men, nothing else to do except whinge, complain, and predict an awful future for a world that will not do what it is told...by them. Sunny day in Sydney, dividends and franking credits on the way. What is there to complain about?

                          Commenter
                          billyw
                          Location
                          avalon
                          Date and time
                          August 25, 2014, 12:38PM
                          • @billyw, agree, except Melbourne is a little overcast today and yet still the best city in the world to live.

                            Commenter
                            Wwwish Lion
                            Location
                            Melbourne
                            Date and time
                            August 25, 2014, 2:06PM
                          • Overcast today? You mean every day right?

                            Commenter
                            DR
                            Location
                            Clovelly
                            Date and time
                            August 25, 2014, 3:22PM
                        • "One of Australia’s top economic experts, Jeremy Lawson, says the housing market is 20 per cent to 30 per cent overvalued and has left Australia vulnerable to a big international economic shock."

                          Housing boom!

                          Commenter
                          Allan
                          Location
                          Prahran
                          Date and time
                          August 25, 2014, 12:30PM
                          • One? Why not two?

                            Commenter
                            just
                            Location
                            sayin'
                            Date and time
                            August 25, 2014, 12:35PM
                          • I normally stop reading , when I read the word experts

                            Commenter
                            tomorrows lotto numbers
                            Location
                            brisbane
                            Date and time
                            August 25, 2014, 12:37PM
                          • thats what they have been saying for the last 30 years, nope, not now, not ever!

                            Commenter
                            Allan Mitchell
                            Location
                            SEQLD
                            Date and time
                            August 25, 2014, 12:39PM
                          • i agree with some of lawson's comments, particularly the need for more independence in the RBA.
                            on the linking of any RE value fall to a crash in china, wouldn't a chinese crash spur on more of their overseas investment activity as safe haven? a bit like all the wealthy PIIGS that piled money into london property post GFC?

                            Commenter
                            brian
                            Date and time
                            August 25, 2014, 12:45PM
                          • I do not agree with this "top economic expert" view on our real estate valuations, not at all; 20-30% overvalued, certainly not. I say it's around 75-80% overvalued.

                            Commenter
                            Top Economic Realist
                            Location
                            Sydney
                            Date and time
                            August 25, 2014, 12:49PM
                          • Someone needs to explain the concept of value to that economist. There is no such thing as a fair market value. Just what people are prepared to pay and what people are prepared to sell for. If the first is greater than the second you have a deal.

                            Commenter
                            Peter
                            Location
                            Oz
                            Date and time
                            August 25, 2014, 1:19PM
                          • @Peter, I agree people in sydney were paying upwards of $10 for a bunch of bananas here in Sydney once upon a time.

                            Commenter
                            just
                            Location
                            sayin'
                            Date and time
                            August 25, 2014, 2:20PM
                          • @Peter...I guess you actually understand the concept of "value". Please do elaborate your wisdom. What is "value"? What is "price"? , Some things that have a high price can have little or even no actual value, at least to some people. Would you say an expensive collectors' stamp, vase, book etc have to same "value" to all people? Value can be a sufficient & necessary condition to price (determination) but not always the other way around. A unit in central Sydney CBD have a high price to some but almost no value to me, personally. (I wouldn't live there if they were going free).

                            Commenter
                            Mack
                            Location
                            Sydney
                            Date and time
                            August 25, 2014, 3:13PM
                          • There won't be an excess supply of new units in Sydney Allan, overseas investors will just purchase the additional units. Our country is for sale

                            Commenter
                            Concerned Resident
                            Date and time
                            August 25, 2014, 3:26PM
                          • I rarely heard property mentioned as overpriced when people started buying up in the late 90s and early 2K. No one said a thing about property prices. It was not until the median wage earner was unable to afford a shoddy home around 2005 - that news started to suggest heavy pricing factors and affordability.

                            Commenter
                            Liberator
                            Location
                            SEQLD
                            Date and time
                            August 25, 2014, 3:39PM
                        • http://www.smh.com.au/business/mining-boom-makes-little-sense-20140823-107o1q.html#ixzz3BOXoZpJR

                          Gillard, Rudd, Gittens, Stevens...Decades of growing resource demand....Who could have seen this coming?

                          Commenter
                          JohnBB
                          Date and time
                          August 25, 2014, 12:22PM
                          • at least we got a MRRT out of it, lol

                            Commenter
                            Allan Mitchell
                            Location
                            SEQLD
                            Date and time
                            August 25, 2014, 12:37PM
                        • Any ideas on ARI's bottom? Almost got in Friday afternoon but decided Friday is always a bad day to get on the dogs. MTU going swimingly though, might breach $7 before it winds back?

                          Commenter
                          Happy
                          Location
                          Trader
                          Date and time
                          August 25, 2014, 12:21PM
                          • Anyone know when MMS is announcing?

                            EDs: They are due today, Mike. Haven't seen any sign of them. Chrs

                            Commenter
                            Mike
                            Location
                            Melb
                            Date and time
                            August 25, 2014, 12:12PM
                            • tomorrow guys!

                              EDs: Thanks Allan!

                              Commenter
                              Allan Mitchell
                              Location
                              SEQLD
                              Date and time
                              August 25, 2014, 12:35PM
                            • Cheers!

                              Commenter
                              Mike
                              Location
                              Melb
                              Date and time
                              August 25, 2014, 3:04PM
                          • With FY14 earnings growth of 12% and a forecast for FY15 of 5% or more,combined with the end of the carbon tax putting more money in people's pockets,,,,get ready for more jobs growth and higher living standards.
                            The market will continue to rise over the long term in spite of the negativity merchants.

                            Commenter
                            Loki
                            Date and time
                            August 25, 2014, 12:00PM
                            • despite what's gonna happen when the US raises interest rates, according to glen stevens anyway.

                              Commenter
                              j
                              Location
                              syd
                              Date and time
                              August 25, 2014, 12:42PM
                            • Just 5% earnings growth forecast for 2015. That can't be true. We now have a Liberal govt, not that Labor swill who only had earnings growth of at least twice that. Just goes to show that you can't "contract your way to prosperity."

                              Commenter
                              mitch of ACT
                              Date and time
                              August 25, 2014, 12:48PM
                            • Yes Mitch,the Liberal government is having a tough time dealing with the constant negativity from Labor,consequently the current forecasts are very conservative,,,we will see next year what the actual number turns out to be.

                              Commenter
                              Loki
                              Date and time
                              August 25, 2014, 1:01PM
                            • how about when the usa with stralya in tow - go at china russia whats left of the middle east and iran all at once?
                              defence stocks anyone?

                              Commenter
                              smilingjack
                              Date and time
                              August 25, 2014, 1:39PM
                            • @Loki, payback time for the last 3 years of opposition for opposition's sake. Be very thankful that Labor & the other opposition parties are saving us and the Libs from the worst of themselves.

                              Commenter
                              mitch of ACT
                              Date and time
                              August 25, 2014, 2:37PM
                            • @Mitch,thanks for having the nous to see through the Labor party's current tactics,where they are even opposing some of their own measures.

                              Commenter
                              Loki
                              Date and time
                              August 25, 2014, 3:52PM
                          • Those drinking from CUP last week are now finding that it was a poisoned chalice. Down another 9c, so far, today.

                            Commenter
                            mitch of ACT
                            Date and time
                            August 25, 2014, 11:49AM
                            • Only down 3.5c now. It's tricky to try pick the exact bottom of any share......

                              Commenter
                              doglover
                              Date and time
                              August 25, 2014, 12:07PM
                            • oversold?
                              oversupply of lemons with yield.

                              Commenter
                              BearshapedBull
                              Location
                              Citrus Collector
                              Date and time
                              August 25, 2014, 12:23PM
                            • I've bought a small parcel at $1.355. Div stream at 8 cps unlikely to fall anytime soon. OK yield at that price.

                              Commenter
                              Yin or yang
                              Date and time
                              August 25, 2014, 1:09PM
                            • @Yin, that's what those who were relying on 12cps dividend thought. One fall often precedes another.

                              Commenter
                              mitch of ACT
                              Date and time
                              August 25, 2014, 3:08PM
                          • Im definately convinced ASX is rigged, Bid 4.50 Ask 4.54 yet trades are going through @ 4.43.....smells

                            Commenter
                            Wwwish Lion
                            Location
                            Melbourne
                            Date and time
                            August 25, 2014, 11:42AM
                            • very smelly @Wwwish!

                              Commenter
                              dewf hart
                              Date and time
                              August 25, 2014, 12:33PM
                          • Foxtel

                            Like all near monopolies they appear to have "missed the boat". With 100 gb data usage available at a reasonable price that negates what I expect Telstra will now be offering unmetered download on Foxtel.

                            You tube just gets bigger and bigger with free offerings. I don't watch sport so I tried Foxtel and then handed it back as an extra bill I don't need.and fail to see any use for as each month passes. Wireless AC for home also has negated the need for cabling the need for more "boxes".

                            Telstra needs to keep their options way open and not lock in further to Foxtel.

                            Commenter
                            Harry Rogers
                            Date and time
                            August 25, 2014, 11:36AM
                            • If foxtel launched a $80 dollar service with unlimited data, regular phone prices and basic foxtel i'd probably be sold.

                              Commenter
                              DR
                              Location
                              syd
                              Date and time
                              August 25, 2014, 11:31AM
                              • Feeling happy with Spark (SKI) results. Wwwish Lion will keep holding baby...

                                Commenter
                                Wwwish Lion
                                Location
                                Melbourne
                                Date and time
                                August 25, 2014, 11:08AM
                                  • What you may be getting back in capital gains & dividends you are more than paying for in higher energy prices.

                                    Commenter
                                    mitch of ACT
                                    Date and time
                                    August 25, 2014, 11:35AM
                                  • @mitch, I agree, but I cannot set power prices. I can buy shares in companies making money.

                                    Commenter
                                    Wwwish Lion
                                    Location
                                    Melbourne
                                    Date and time
                                    August 25, 2014, 12:00PM
                                • KMD: Another wet week last week in Australia & NZ with more rain to come - all adds to the late winter conditions.

                                  Augers well for Kathmandu. Downgrade, upgrade, upgrade?

                                  Commenter
                                  Jack Frost
                                  Date and time
                                  August 25, 2014, 10:55AM
                                  • I bought KMD a few months back, haven't gone to green yet; but I can see a better than expected announcement this week.

                                    Commenter
                                    Mike
                                    Location
                                    Melb
                                    Date and time
                                    August 25, 2014, 12:10PM
                                  • It would be positive for Kathmandu if anyone shopped there anymore...

                                    Commenter
                                    DR
                                    Location
                                    syd
                                    Date and time
                                    August 25, 2014, 12:13PM
                                  • sunny and warm in the adelaide hills.well warm for us. 10c - 18c. t shirts and shorts and sun block yesterday. which is a bit disconcerting as it regularly touches 45c in summer and shouldnt be this hot in winter. hardly any rain to talk of this winter.

                                    Commenter
                                    smilingjack
                                    Date and time
                                    August 25, 2014, 12:18PM
                                  • Most of the population is on the east coast so the weather in the Adelaide hills is of little consequence.

                                    Commenter
                                    Loki
                                    Date and time
                                    August 25, 2014, 1:04PM
                                  • I take back everything I said, the CEO just resigned haha!
                                    Kidding, I Still have faith in a better than expected outcome when they release this week

                                    Commenter
                                    Mike
                                    Location
                                    Melb
                                    Date and time
                                    August 25, 2014, 2:12PM
                                  • Loki: that and people in Adelaide can't really afford a lot of full priced retail stuff like Kathmandu offer.

                                    Commenter
                                    DR
                                    Location
                                    Clovelly
                                    Date and time
                                    August 25, 2014, 4:23PM
                                • How Australians squandered the mining boom:

                                  Hiluxes
                                  Flat screen
                                  Cafes
                                  Leather lounge suites
                                  Surfing Facebook

                                  Now prepare for a "serious reduction in the standard of living".

                                  Commenter
                                  Allan
                                  Location
                                  Prahran
                                  Date and time
                                  August 25, 2014, 10:55AM
                                  • And more importantly:

                                    Various welfare payments
                                    Disability pensions for over a million people
                                    Economic "stimulus"

                                    and so on.

                                    Commenter
                                    Dr No
                                    Location
                                    Sydney
                                    Date and time
                                    August 25, 2014, 11:19AM
                                  • Squandered?
                                    smells of acrimony there Allan? So you missed out and now feel cheated...yet all those people that put in the long hours and hard work in heat,dust and remote locations aren't allowed to use the money for purchasing what they want? feel country and all,i think those punters actually supported all the local business' by buying up large...why not.

                                    Commenter
                                    BearshapedBull
                                    Location
                                    Citrus Collectors
                                    Date and time
                                    August 25, 2014, 11:21AM
                                  • How dare people enjoy the fruits of their labour!!! Guess some people will not be happy until everyone is equal and standing in breadlines shoulder to shoulder......

                                    Commenter
                                    Picken
                                    Location
                                    Choose
                                    Date and time
                                    August 25, 2014, 11:23AM
                                  • I used my gains to buy CBA, WPL and ORG shares, so am a happy little camper!

                                    Commenter
                                    Allan Mitchell
                                    Location
                                    SEQLD
                                    Date and time
                                    August 25, 2014, 11:40AM
                                  • Yep...Exacerbated terribly by population growth. Simple maths that's escaping most people.

                                    Commenter
                                    JohnBB
                                    Date and time
                                    August 25, 2014, 11:46AM
                                  • solar panels. electric bike. water tanks.solar hot water. edible plants / trees. double glazing.insulation. and a lot of op shopping. as a bonus a nice second hand ( 9 yo ) lexus.
                                    but yes agree tax hikes and property devalues are coming. along with wage freezes and unemployment.

                                    Commenter
                                    smilingjack
                                    Date and time
                                    August 25, 2014, 11:49AM
                                  • Hey, but we had a lot of fun while it lasted, right? Now if only the dollar would do its business and drop below 85c, I might actually consider buying something.

                                    Commenter
                                    Green Sheep
                                    Location
                                    consumer heaven
                                    Date and time
                                    August 25, 2014, 11:50AM
                                  • Don't forget having to go with the latest smart phone plan and tablet laying around the home!!!

                                    Subs north of Brissy are going pear shaped - property only available to the investor as FHBs watch their initial buy price fall in a heap. It is good to know people in the area watching real market news for owners (investor buying has little meaning while tax payers fund their losses).

                                    Commenter
                                    Liberator
                                    Location
                                    SEQLD
                                    Date and time
                                    August 25, 2014, 11:52AM
                                  • Don't own a hilux.
                                    Couch is of the fabric variety.
                                    Flat screen is 8 years old. Is this ok? Should I own rear projection?
                                    Frequent Cafe? Guilty of the odd cafe experience, you know, place to go with 'mates' on a Sunday morning and reflect on life.
                                    Not sure how Facebook costs money ? Explanation please.

                                    Commenter
                                    Don't want
                                    Location
                                    no squanderer.
                                    Date and time
                                    August 25, 2014, 11:53AM
                                  • this guy is so bitter. It's not funny...

                                    Commenter
                                    Hugo
                                    Date and time
                                    August 25, 2014, 12:17PM
                                  • Spending time surfing facebook on the weekends should actually help you save money?

                                    Commenter
                                    DR
                                    Location
                                    syd
                                    Date and time
                                    August 25, 2014, 12:37PM
                                  • The lack of context some of the replies to Allan's post are incredible...

                                    THE NATION has .......

                                    @BearshapedBull and Picken..great you've done well as have I and I'm sure Allan, but the majority (the weight of voters) will drag us all down because of their reckless spending and debt.

                                    Commenter
                                    JohnBB
                                    Date and time
                                    August 25, 2014, 12:39PM
                                  • OK, the reapers of doom have changed my mind. Next time around instead of buying more Facebook (???) I'll buy windmills, solar panels, anti-immigration t-shirts, and organic fairy dust.

                                    Commenter
                                    Picken
                                    Location
                                    Choose
                                    Date and time
                                    August 25, 2014, 1:12PM
                                  • Or you could consume less and save more for later. Duh!

                                    Commenter
                                    Allan
                                    Location
                                    Prahran
                                    Date and time
                                    August 25, 2014, 2:19PM
                                  • freedom of choice is what we've got.
                                    basically it [the article] was just a snapshot of the changed consumer trend with all the fresh money, any tracings on all the Govt royalties and taxes that were boosted by the said mining boom...nah different story completely.
                                    don't be surprised but alot of people i know in the industry have been salary sacrificing more and investing heavily in equities and assets..but boys can have toys as well. Great time to be alive.

                                    Commenter
                                    BearshapedBull
                                    Location
                                    Mugpunters Lounge
                                    Date and time
                                    August 25, 2014, 3:16PM
                                • "need2know: Iron ore in sharp fall"

                                  Housing boom!

                                  Commenter
                                  Allan
                                  Location
                                  Prahran
                                  Date and time
                                  August 25, 2014, 10:51AM
                                  • contact in Chicago is claiming some type of cyber attack. Just coming through on wires now

                                    Commenter
                                    arbinater
                                    Location
                                    melbourne
                                    Date and time
                                    August 25, 2014, 10:44AM
                                    • ???

                                      Commenter
                                      DR
                                      Location
                                      syd
                                      Date and time
                                      August 25, 2014, 11:06AM
                                  • 350 jobs to go from Caltex...I thought scrapping the "Carbon Tax" was going to CREATE jobs...Oh Tony you didnt LIE to us again did you?

                                    Commenter
                                    Steeden
                                    Location
                                    Ballina
                                    Date and time
                                    August 25, 2014, 10:40AM
                                    • Whyalla wiped out mate.

                                      Commenter
                                      Viking
                                      Location
                                      Sydney
                                      Date and time
                                      August 25, 2014, 11:12AM
                                    • Thats it I'm voting Liberal at the next election because of these government of the day bashing posts!!!

                                      Commenter
                                      i love the
                                      Location
                                      Abbott
                                      Date and time
                                      August 25, 2014, 12:12PM
                                  • The Australia dollar is not going down even though the iron ore price dropped to near us$90 per tone, recently whatever the bad news for Aussie dollar is, the dollar goes down and then up again, seems there is a big guy who is buying our dollar, Chinese government behind it?

                                    Commenter
                                    aaa
                                    Date and time
                                    August 25, 2014, 10:23AM
                                    • IO down...
                                      get your lemons here, lemons for sale.....
                                      MGX cheaper still today @ GS
                                      might see a nice dip in FMG....

                                      Commenter
                                      BearshapedBull
                                      Location
                                      Citrus Collector
                                      Date and time
                                      August 25, 2014, 10:13AM
                                      • I got a good feeling bout ya MGX... 80c+ ... SOOOOON!

                                        Commenter
                                        GS
                                        Date and time
                                        August 25, 2014, 10:55AM
                                      • @GS. Why? Very much affected by I/O price, I would have thought.

                                        Commenter
                                        Yin or yang
                                        Date and time
                                        August 25, 2014, 2:39PM
                                      • I believe the I/O price will shoot back up over $100. You will get a random day in the next few weeks where I/O rises 4% overnight and our local miners start moving again. It always happens, I see this every year & I have a good memory.

                                        Also factor in the $520M cash, plus 5c div and I think this is a low risk entry price. I would also make a 2nd buy if it got down to 60c. I'm not in by crazy amounts, have made a nibble on Fri & ready for another if price goes south before ex div

                                        Commenter
                                        GS
                                        Date and time
                                        August 25, 2014, 3:06PM
                                      • If its any consolation the share price drop and then regather towards the end shows shorters are covering after selling out before end of trade so in some ways its a daily sign that interst is there both ways....

                                        Commenter
                                        BearshapedBull
                                        Location
                                        Mugpunters Lounge
                                        Date and time
                                        August 25, 2014, 4:11PM
                                    • CME/Globex futures trading suspended due to 'technical' glitch'.hmmm. How will asia cope?

                                      Commenter
                                      50BahtLeo
                                      Date and time
                                      August 25, 2014, 9:48AM
                                      • What's a Daxman to do?

                                        Commenter
                                        Daxman
                                        Location
                                        Sydney
                                        Date and time
                                        August 25, 2014, 10:38AM
                                    • Just placed an order for more shares in Graincorp

                                      (possibly influenced by my anger in my first comment - of course, one should never be governed by emotion, so I'm sure that will turn out to be a terrible buy)

                                      Commenter
                                      Fred
                                      Date and time
                                      August 25, 2014, 9:40AM
                                      • @Fred, I hold some grain corp as well, it has been a dog for me, but I like to hold some (very small holding) as I do see food suply becoming an issue (well in to the future from an investment timeline >5-10 years)

                                        Commenter
                                        Wwwish Lion
                                        Location
                                        Melbourne
                                        Date and time
                                        August 25, 2014, 9:50AM
                                      • @ Wwwwish Lion, you seem like a more knowledgeable trader than me, so glad to have some company in GNC!

                                        Commenter
                                        Fred
                                        Date and time
                                        August 25, 2014, 10:09AM
                                      • Why not buy the wheat etf instead?

                                        Commenter
                                        JohnBB
                                        Date and time
                                        August 25, 2014, 10:14AM
                                      • There is appetite for food producers. :) A long trend of them shifting from public to private ownership inclines the view the 'smart money' sees a good future for this sector.

                                        Despite Aust. growing a lot of food, there are few remaining publicly listed food processor/producers left.

                                        I bought some GNC after the failed takeover bid. Though now I think it might be difficult to grow the business. Still, for the present I am happy to stay long on them.

                                        Commenter
                                        Learner
                                        Location
                                        Melboune
                                        Date and time
                                        August 25, 2014, 10:29AM
                                      • @Fred, thanks but I'm not sure how knowledgable I am.
                                        I mostly ask myself, Do I understand what this company does? What do I think the industry will do (ie grow/decline)? Is this company likely to improve its market position or are they a leader in the industry? and Look at some fundementals, ie current yeild, PE etc.
                                        I dont always follow my own rules and take a punt, but Im learning my best bets have been when I do.

                                        Commenter
                                        Wwwish Lion
                                        Location
                                        Melbourne
                                        Date and time
                                        August 25, 2014, 11:02AM
                                      • in my view the Ag sector will be extremely volatile due to climate change - without climate change and population growth as it stands investing in the Ag sector would be a no brainer but with climate change it is much more problematic - there is a high demand food but sector projections will be difficult and variable, far more than is historically normal

                                        Commenter
                                        Julia
                                        Location
                                        central vic
                                        Date and time
                                        August 25, 2014, 11:20AM
                                      • I beg to differ. large scale agriculture has to move indoors for some sectors. nearly all of europes tomatoes as an example are grown indoors. look at amsterdam. green houses etc are the future. thousands of acres of them all climate controlled with no water wastage. in sweden I saw tomatoes and basil grown together in large solar powered glass houses with grapes. and a bee hive at the end of each glass house. it was pure gold.

                                        Commenter
                                        smilingjack
                                        Date and time
                                        August 25, 2014, 12:22PM
                                      • @SmilingJack,

                                        While that is true, Australian agriculture is almost all outdoors leaving us very exposed to shifts in climate patterns. Our largest exports are:

                                        Wheat - 2.3% of exports
                                        Beef- 1.8%
                                        Wool - 1.1%
                                        Cotton - 1.0%
                                        Meat (non beef) - 0.9%
                                        Alcohol (inc wine) - 0.8%
                                        Barley - 0.5%

                                        Non of them are suited to growing in greenhouses.

                                        On top of that, the majority of the worlds calories are derived from cereal crops where the economics make greenhouses unfavorable. Greenhouses can't solve all our problems.

                                        Commenter
                                        Jimmy
                                        Date and time
                                        August 25, 2014, 1:07PM
                                    • Self-interested bankers like this man make me sick. Preaching the need for Australia to sell off every last bit of land and every last Australian business just so he can make a buck out of it.

                                      http://www.abc.net.au/news/2014-08-24/foreign-investment-in-agriculture-breathes-life-into-communities/5691970

                                      Commenter
                                      Fred
                                      Date and time
                                      August 25, 2014, 9:32AM
                                      • Let's live it up Fred and forget about the kids. Most selfish generation by a very long way ever.

                                        Commenter
                                        JohnBB
                                        Date and time
                                        August 25, 2014, 10:16AM
                                      • no different to all sales people whether they are flogging shares cars insurance houses etc. its always the best time to buy and everyone should be buying or selling or they will miss out. its called capitalism and we live and breath it in the west. Its our way of life that makes us far far superior in the west to all others - apparently. Im not on board with this philosophy.

                                        Commenter
                                        smilingjack
                                        Date and time
                                        August 25, 2014, 10:55AM
                                    • Iron ore is here to save the day. While New Zealand can expect a budget surplus next financial year - with no massive debt taken on during the so called GFC - Australia's politicians seem incapable of pulling back spending and loose fiscal policies. This keeps our overheated economy and unaffordability going and causing pain for so many working families in the process.

                                      But what our politicians are unable to achieve, the sinking iron ore price will do for us. Keep on going down iron ore!

                                      Commenter
                                      Dr No
                                      Location
                                      Sydney
                                      Date and time
                                      August 25, 2014, 9:17AM
                                      Comments are now closed