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Markets Live: Miners lead share slump

Date

The share market has closed at the day's lows, led down by the miners, after rate cut hopes all but faded over a strong jobs report.

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  • Allan, forgive me for not asking this before, but I was laughing so hard over your "no one predicted a property crash in 2012 or 2013" line that it slipped my mind.

    In several of your remarks to me you use an acronym "MVF". I'm not a red, and it's meaning escapes me. Moscow? Vladivostok? Help me out here.

    Commenter
    Balanced
    Date and time
    March 14, 2013, 3:39PM
    • And I'm laughing so hard that you don't comprehend plain English. No one predicted that the proerty crash would occur IN 2012 or 2013. Not so hard. Try harder mvf.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      March 14, 2013, 5:04PM
    • No you're not a red you just imagine they're everywhere. Hence your failure to comprehend that Prosper are not socialist, communists or left at all.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      March 14, 2013, 5:09PM
  • Why is the dollar gaining on the addition of more low paid part time jobs?

    Commenter
    Viking
    Location
    Sydney
    Date and time
    March 14, 2013, 3:37PM
    • See my earler comment below that you are not qualified to express opinions on equities and add +1 for currency.

      Commenter
      Balanced
      Date and time
      March 14, 2013, 4:29PM
    • Viking, I'm only spitballing here, but I'd say the assumption is that job creation - however unsatisfactory the annual rate of income may be - is positive. In fact, it could be argued that part-time jobs pass money into the economy to those who are currently not employed at all. This multiplies out, expanding the economy, which in turn eventually creates full time positions to satsify the half-employed people looking for full time work, thus continuing to aid the further expansion of the economy. Strong economy = strong currency, especially in the face of economic weakness elsewhere in the world. These would not be my arguments, because you'd have to then assume that the numbers actually mean something by themselves, which they don't.

      Commenter
      Long & Strong
      Date and time
      March 14, 2013, 4:30PM
  • Westpac chairman Lindsay Maxsted has said the minority Gillard government has failed the country, lamenting its lack of business acumen and arguing the re-regulation of the labour market has contributed to lower business investment.

    I wonder if that includes the banking guarantee from the Government to the big four banks.

    Is Mr Maxsted preparing the market for a profit warning from Westpac_

    Commenter
    Viking
    Location
    Sydney
    Date and time
    March 14, 2013, 3:35PM
    • You know its time to consider retiring from trading when... you forget an order you placed a couple of weeks ago and you get a heart attack when you unexpectedly receive an equity trade purchase confirmation email in a falling market.
      Lucky for me, it wasn't costly. Phew !!!

      Commenter
      lima
      Date and time
      March 14, 2013, 3:33PM
      • totally agree with "life s good".A technical correction,hopefully the market should soon start factoring in a change of gonernment.

        Commenter
        Sid Knee
        Location
        Ramsgate Beach
        Date and time
        March 14, 2013, 3:33PM
        • Buuuuhhuuuhh! BHP share price is falling, not fair. Well, my son with a pe at 19.9 and a shrinking business there is a long way to fall. Fair value for BHP is 17 dollars.

          Commenter
          Viking
          Location
          Sydney
          Date and time
          March 14, 2013, 3:30PM
          • Closed fmg 3.95, an even $1/share. Total $3.20 from shorts. Wait for pollyanna bounce, rinse, repeat. Jeer squad silent.

            Commenter
            Allan
            Location
            Prahran
            Date and time
            March 14, 2013, 3:26PM
            • spoken like a true gambler... only announces his wins, never his losses...

              Commenter
              market faithful
              Location
              Perth
              Date and time
              March 14, 2013, 4:11PM
            • If I had losses you would know because my trades are posted on here. Comprehension fail.

              Commenter
              Allan
              Location
              Prahran
              Date and time
              March 14, 2013, 5:07PM
          • CBA is currently capitalised at a value equivalent to the combined value of all German banks...yet German GDP outstrips Australia. Beware!

            Also, the current employments numbers just don't look right compared to what I have been reading the last couple of months...look out for a mammoth correction due to some accounting/administrative error next month!!!

            Commenter
            Money Man
            Date and time
            March 14, 2013, 3:10PM
            • You can say that again. All people I know are either underemployed, in contract jobs or unemployed. Lets break the Moet out!

              Commenter
              Viking
              Location
              Sydney
              Date and time
              March 14, 2013, 4:18PM
          • NAB selling for pe 17.8 and Goldman Sachs for pe 10.8 and people wonder why Aussie stocks are falling. The truth is there is little value in the Aussie share market.

            Commenter
            Viking
            Location
            Sydney
            Date and time
            March 14, 2013, 3:03PM
            • If you think that a commercial bank and an investment bank are the same thing I'm not sure you're qualified to offer any opinion on the market.

              Commenter
              Balanced
              Date and time
              March 14, 2013, 4:25PM
          • Wow. Look at the Permabull economists gloating in the left hand column. One set of good figures certainly gets their juices flowing. Go Craig James.......go son!!!!

            PS, Bring on some rate rises, I'm ready

            Commenter
            The Oracle
            Location
            Oberon
            Date and time
            March 14, 2013, 2:58PM
            • Just went and did to my butternut pumpkin what the ASX is doing to the banks, trimmed them back, they were taking over the whole yard and all I got was one pumpkin out of all that, So sacrificed a few small pumpkins hopefully to give some others a change to grow bigger and not drop dead as soon as they get to the size of a fifty cents piece.

              Commenter
              banks pumpkins whats the difference,
              Date and time
              March 14, 2013, 2:25PM
              • Anyone seen the ad on this page? 12 Month RealEstate Millionaire.
                What are you waiting for. Why waste your time on shares when you can retire rich on property.
                C'mon SMH - have you no shame ?

                Commenter
                lima
                Date and time
                March 14, 2013, 1:14PM
                • Undue panic again at COH after a good start. High speed trading or everyone just fell out of the wrong side of bed, again? . PE is high but fundamentals are good which should help sustain the huge growth rate that it registered in the Asia Pacific last half year and will get good help from weaker dollar..Maybe people are focusing too much on arbitrary lines on charts.

                  Commenter
                  Jim
                  Date and time
                  March 14, 2013, 1:07PM
                  • Ssshhh. Don't tell anyone. Just keep buying and averaging down.
                    It'll be back up to $71 next week

                    Commenter
                    lima
                    Date and time
                    March 14, 2013, 1:20PM
                  • Probably my fault. I sold out of the hillbilly ASX and went over to the DOW side

                    Commenter
                    colin
                    Location
                    melbourne
                    Date and time
                    March 14, 2013, 2:44PM
                • Have the banks gone out in sympathy with the miners ?.

                  Commenter
                  Waiting for September
                  Location
                  Mlb
                  Date and time
                  March 14, 2013, 12:50PM
                  • ok, something is being lost in translation here, jobs growth, good, yes!? so why are the banks collapsing? I'll wait for westpac to go down to 28 dollars and then I'll buy for the divs.

                    Commenter
                    whaaaatttttt!!
                    Date and time
                    March 14, 2013, 12:49PM
                    • Yes jobs are up but its the part time ones. Not good :(

                      Commenter
                      common sense
                      Date and time
                      March 14, 2013, 1:08PM
                  • What happened did interest rates just go up 5% or something. Is everybody taking their money out of the market so they can invest back in term deposits. No
                    Another overreaction on the ASX. What happened to all the people sitting on the sideline coming in to buy the dips. Oh sorry out to lunch. Whats going to happen to our little useless market when the Dow decides to have a correction.Even in NZ on Nov 1 2007 we were 2600 points above them now we are just 700. They have closed the gap by 1900 points and they've been through 2 recessions. What a joke the ASX is. Election now please.

                    Commenter
                    Jonaze
                    Location
                    Sydney
                    Date and time
                    March 14, 2013, 12:43PM
                    • You are correct, NZ is tucked away where nobody can see it. Making up .1 % of world markets(Or so we are told)
                      So nobody takes any notice
                      The A dollar is 6 most traded currency so I guess it follows that we are on everyones radar.
                      I am not sure if it is the Sheep mentality of the people here or if the damage is being done from offshore
                      I am tempted to join the flock, At this point is time I can see my gains being eroded again Avec Tout Vitesse, which is French for , with all speed
                      34 k down on paper,in just 3 days \pretty much at my wits end

                      Commenter
                      stuarth44
                      Location
                      buderim
                      Date and time
                      March 14, 2013, 1:13PM
                    • In answer to your question, recent economic data has been weaker than expected plus the market was at resistance on the technicals. It run nearly 30% in 9 months so a 1-2% drop is nothing.

                      In answer to your rant, the NZ and DOW don't have the 20%+ exposure to mining that we have. Commodities are dropping while Industrials are rising.The 2 speed economy is switching gears so it will be a rough ride for 3-6 months

                      Commenter
                      Life Is Good
                      Location
                      The Real World
                      Date and time
                      March 14, 2013, 1:13PM
                    • Our market is largely driven by banks and miners, the banks are heavily exposed to t real estate bubble, and the miners are exposed to a softening mining sector where capacity is catching up to demand.

                      Commenter
                      J.
                      Location
                      Syd.
                      Date and time
                      March 14, 2013, 1:38PM
                    • Honestly, its just not worth using reason or logic. It just bounces off.

                      Commenter
                      cranberry
                      Date and time
                      March 14, 2013, 2:07PM
                  • Steep fall ASX200, just shows how the much the market believes the employment figures.

                    Commenter
                    Non Beleiver
                    Location
                    Mlb
                    Date and time
                    March 14, 2013, 12:43PM
                    • Red Bull Time, it's getting weak.

                      Commenter
                      Dan
                      Location
                      Sydney
                      Date and time
                      March 14, 2013, 12:40PM
                      • Pope elected and we get a jobs miracle? Being a Doubting Thomas , I recall that we are constantly warned about the volatility of a single months figures.

                        And as it seems to be a very Roman sort of day, may I remind Labor that the Ides of March are upon us.

                        Commenter
                        Catch 22
                        Date and time
                        March 14, 2013, 12:29PM
                        • The vast majority of new jobs are part-time. The reduction in hours continues and the rise in casuals, part-timers and contract workers rises.

                          Not gonna keep the housing bubble inflated. Sorry.

                          Commenter
                          Allan
                          Location
                          Prahran
                          Date and time
                          March 14, 2013, 12:28PM
                          • Investments bankers form the UK are cheating the markets...In Australia the falls can't be right...doesn't make Sense...usual the commentators just of along With it..

                            Commenter
                            I know them
                            Location
                            Tokyo
                            Date and time
                            March 14, 2013, 12:25PM
                            • Why is everyone surprised about the jobs data. there is no recession and never was.
                              Just Tony R.Abbot talking it up.
                              Try and get a tradesman or a park in the at the local mall.
                              How many people do you know unemployed.....zero

                              Commenter
                              IAMRLC
                              Date and time
                              March 14, 2013, 12:22PM
                              • Finally someone can see the truth

                                Commenter
                                rc
                                Date and time
                                March 14, 2013, 12:57PM
                              • Me. I'm unemployed.

                                Commenter
                                lima
                                Date and time
                                March 14, 2013, 1:11PM
                              • Where have you been living IAMRLC...under a rock???? Wake up to the fiddles that politicians around the world [USA, China, Europe in particular] have been using to 'dress-up' distressed economies!

                                Commenter
                                Money Man
                                Date and time
                                March 14, 2013, 3:16PM
                            • Jeer squad very quiet today.

                              Large fmg short 19% in the money. Expect it to go lower.

                              Commenter
                              Allan
                              Location
                              Prahran
                              Date and time
                              March 14, 2013, 12:08PM
                              • Sorry, doctor no, but you'll never make a good doomsayer if you make fundamental mistakes like putting dates in. Saying the property market will crash in "June or July" is an absolute no-no.

                                An experienced doomsayer keeps it vague, like the heavens will "soon" be rent asunder, or a plague of locusts is "about" to descend. That way, when the housing crash you predict in 2103 doesn't happen, and in fact you are still waiting in 2014 and 2015 etc, you can still maintain the charade that it's going to happen "any day now".

                                And you've repeated another mistake that I chastised you for last week. Again, the first rule of scaremongering is that you get nowhere trying to scare people about something they are expecting anyway. Everyone already knows the price of iron ore will settle well below curent levels, so you might as well be predicting that Easter is coming.

                                Commenter
                                Balanced
                                Date and time
                                March 14, 2013, 11:49AM
                                • No mvf, nobody predicted a crash in 2012 or 2013. Housing is 40% overpriced and it will correct in it's own good time.

                                  It is not scaremongering just because you live in fear.

                                  Commenter
                                  Allan
                                  Location
                                  Prahran
                                  Date and time
                                  March 14, 2013, 12:23PM
                                • Oh, that's gold! Allan, that is the post of the year!

                                  "No one predicted a crash in 2012 or 2013".

                                  You see, doctor, that's how it's done.

                                  Commenter
                                  Balanced
                                  Date and time
                                  March 14, 2013, 1:09PM
                                • Comprehension fail. Try harder mvf.

                                  Commenter
                                  Allan
                                  Location
                                  Prahran
                                  Date and time
                                  March 14, 2013, 3:24PM
                                • Actually Allan is correct. Our Sun is expected to become a SuperNova in about 5 billion years when it will expand and swallow the Earth. I'm sure when that happens, you'll see house prices plunge 40%

                                  Commenter
                                  Life Is Good
                                  Location
                                  The Real World
                                  Date and time
                                  March 14, 2013, 3:57PM
                                • Well, Life is Good, that's a plausible argument, because Allan is very forward looking. Twice now he has said that in the next century they will look back on this time and wonder how we let executives get away with such big salaries. I suppose he's keen to say at least one thing that can't demonstrably blow up in his face within weeks.

                                  Commenter
                                  Balanced
                                  Date and time
                                  March 14, 2013, 4:43PM
                                • Honestly, its just not worth using reason or logic. It just bounces off.

                                  Cranberry.

                                  Commenter
                                  Allan
                                  Location
                                  Prahran
                                  Date and time
                                  March 14, 2013, 5:06PM
                              • Wonderful news on jobs.

                                Does Swannie have to step up to save next Qtr GDP or will there be enough tax revenue for once in line with government spending?

                                Tomorrow back to what is happening in China as that is what matters....

                                Commenter
                                Opinion Only
                                Location
                                Melbourne
                                Date and time
                                March 14, 2013, 11:49AM
                                • Gordon,
                                  Stick to the speculation son, you know zilch about technology. Maybe if you got odd dialup it might help?

                                  Commenter
                                  colin
                                  Location
                                  melbourne
                                  Date and time
                                  March 14, 2013, 11:42AM
                                  • Do you know something? Tell us.

                                    Commenter
                                    Gordon Gekko
                                    Date and time
                                    March 14, 2013, 12:25PM
                                • Not just iron ore, all mining is collapsing. So why are new mega-huge iron-ore mines being approved and built when there is already a dramatic over-supply? Can't they leave some for later?
                                  The Governments state and federal need to halt the mining taxes until things stabalise. In QLD, the industry has all but shut down.

                                  Commenter
                                  Fred
                                  Date and time
                                  March 14, 2013, 11:38AM
                                  • Chinese authorities suddenly express concern about the trading of miners in Iron Ore then the price comes back markedly over the week follows that announcement...

                                    Obviously the Chinese were trying to ensure the miners weren't in the market propping up the price while their people were orchestrating a mini correction...

                                    It's worked so far because the price is still quite high, though my view is that the miners will intervene again if the price declines much further.

                                    Commenter
                                    A Bodhi Nuisance
                                    Date and time
                                    March 14, 2013, 11:32AM
                                    • Looks like those iron ore companies are well and truly in a downtrend now. As for the ASX, has it found its peak? Is the dream finally over?

                                      Commenter
                                      panda
                                      Location
                                      perth
                                      Date and time
                                      March 14, 2013, 11:20AM
                                      • Peaked That's a Joke ASX April 2010 5025 today 5070. 45 points in three years you must be joking. Mining tax and Carbon tax. As Juliar says Election Bring it on. I'd be happy to vote this Saturday.

                                        Commenter
                                        ASX Peaked
                                        Location
                                        Sydney
                                        Date and time
                                        March 14, 2013, 12:23PM
                                      • Real economy - it is the important part :)

                                        Commenter
                                        Opinion Only
                                        Location
                                        Melbourne
                                        Date and time
                                        March 14, 2013, 2:12PM
                                    • Looks like the mining boom is really over now. Where is Gillard and Swan going to find the $3B to pay for their outlandish promises over the past two week. Has anyone added up these promises - looks to be in the order of about $30B on top of the expected $15B defecit. Some, a fraction, will come from bribes, er i mean political donations, from the 9 network but that also looks to be falling in a heap - oh hang on of course that goes into the pockets of the Labor party and the Union bosses so we are back where we started.

                                      Commenter
                                      Waiting for September
                                      Location
                                      Disfunctional Victoria.
                                      Date and time
                                      March 14, 2013, 11:08AM
                                      • Sorry wiating for september, but I think you are looking for the tabloid blog. This one is restricted to people with IQs above 60.

                                        Commenter
                                        Balanced
                                        Date and time
                                        March 14, 2013, 11:54AM
                                      • /agreed Waiting.
                                        I hope this gets off the ground (from Policy Magazine):
                                        http://www.cis.org.au/images/stories/policy-magazine/2012-summer/28-4-12-sukrit-sabhlok.pdf
                                        It would be great to see a state tell Canberra to stop playing the wealth redistribution game! Repealing income tax (and other forms of political bribery, whether its baby bonus', other any other welfare to a particular class of society) would be a very good way of controlling the central planners. Further it would mean jobs would be created where there is a need for jobs in a organic fashion, not via edict from a politician.

                                        Commenter
                                        Bye Bye Fiat Money
                                        Date and time
                                        March 14, 2013, 12:08PM
                                      • Non-mining states all in recession. mvf you said that wouldn't happen.

                                        Commenter
                                        Allan
                                        Location
                                        Prahran
                                        Date and time
                                        March 14, 2013, 12:29PM
                                      • Perhaps they could take a leaf out of the Coalitions book and hike up business tax rates by 5% to help rich families keep their Porsche leases while having kids ($75k per kid completely non-means tested or restricted by number of kids. Gina Rinehart's kids could have 4 of their own kids and would get $300,000 of your taxes!!). That must make you happy!

                                        Commenter
                                        Life Is Good
                                        Location
                                        The Real World
                                        Date and time
                                        March 14, 2013, 12:36PM
                                      • Life is good - dont be silly.

                                        Commenter
                                        Non Beleiver
                                        Location
                                        Mlb
                                        Date and time
                                        March 14, 2013, 12:53PM
                                      • Anyone noticed the poor excuse for HD TV that the networks put out these days. Ever been watching a program and find spells where all texture on screen is lost? This is due to the networks pushing their bandwidth to the max. I watched an episode of the Mentalist the other night (not sure which channel it as). The first time I've watched Free to Air TV (other than ABC and SBS) for a while. The big reveal at the end came after an advert break and the section of the program that showed the linkage to the Agatha Christie moment was cut. The episode was ruined. The viewer was given no reason as to how the bloke worked it out. Gone. Missing.
                                        I can only assume that channel 9 or 7 had to put 22 minutes of adds into a program of 40 minutes all into an hour and so the program was edited to destruction.
                                        F.T.A TV cannot continue like this, it is ruining its own brand.
                                        The NBN will allow full HD distribution to the home without excessive compression ruining picture quality. It will allow multi-streaming, which means no longer will there be a fixed broadcast schedule, there will be a menu of choice of what has become available. Google Analytics will allow targeted demographic advertising. As such advertiser rates will increase but advertising viewers will decrease because under 30's will be watching an advert for the lates KFC deals and the over 50's the latest Saga holidays deals. (Just an example).
                                        The content rights holders will become the distributors (HBO is perfectly placed for this with their innovative programming). The distributors in OZ will be restricted to content they produce.

                                        Commenter
                                        Internet TV watcher
                                        Location
                                        Melbourne
                                        Date and time
                                        March 14, 2013, 1:13PM
                                      • Non believer, which part of my statement is silly. That's the current Coalition policy. New parents get up to $75,000 per baby ON TOP OF any payments from their work.. Its projected to cost about $7 billion pa and be paid for by increasing corporate tax from 30% to 31.5% - a 5% increase in tax payable.

                                        Commenter
                                        Life Is Good
                                        Location
                                        The Real World
                                        Date and time
                                        March 14, 2013, 3:47PM
                                    • New Pope elected. Let's pray that the market takes off

                                      Commenter
                                      lima
                                      Date and time
                                      March 14, 2013, 10:23AM
                                      • That's his job now, let the new Pope pray. I have outsourced my praying to him.

                                        Commenter
                                        Dan
                                        Location
                                        Sydney
                                        Date and time
                                        March 14, 2013, 10:49AM
                                    • After a couple of days of standing more or less still, iron ore has finally continued its march downwards with a giant 3% fall today. As iron ore hits 85$ a tonne in June/July, the Australian property bubble will burst.

                                      Commenter
                                      Dr No
                                      Location
                                      Spring Hill , Brisbane
                                      Date and time
                                      March 14, 2013, 10:15AM
                                      • Dream on sonny

                                        Commenter
                                        lima
                                        Date and time
                                        March 14, 2013, 10:34AM
                                      • "Yikes...what will that do to house prices?" Sorry, I realise it's trademarked by someone else but it's a good/great one.

                                        Commenter
                                        Dan
                                        Location
                                        Sydney
                                        Date and time
                                        March 14, 2013, 10:46AM
                                      • Or, the falling iron price will weaken the AUD, and taking the pressure off other parts of the economy (manufacturing, tourism etc). So falling iron price will increase house prices (except in Peppermint Grove).

                                        Commenter
                                        pplater
                                        Location
                                        Perth
                                        Date and time
                                        March 14, 2013, 11:02AM
                                      • can't wait, the sooner it crashes the sooner I will buy a place for myself. I have been dreaming about the crash for the last few years. *saved for future reference*

                                        Commenter
                                        got brain
                                        Date and time
                                        March 14, 2013, 11:13AM
                                      • Got brain and money:) Good luck house hunting!

                                        Commenter
                                        lima
                                        Date and time
                                        March 14, 2013, 1:08PM
                                      • AUD is being held to the yield ransom from overseas investors.

                                        It will not fall in line with fundamentals and the RBA does not get that.

                                        Commenter
                                        Opinion Only
                                        Location
                                        Melbourne
                                        Date and time
                                        March 14, 2013, 4:08PM
                                    • The media reforms package being mooted in parliament has become a double-edged sword with implied hints of Stalinism. On the one hand is the abolition of the Reach Rule, and on the other is the threat to Freedom of Speech that many claim will be compromised by the establishment of the Public Interest Media Advocate (PIMA). In the latter case, the freedom to convey relevant material to the public has long been a pivotal part of one’s right to the enjoyment of journalistic exposure without bias and interference, but to me the threat to freedom of speech defence is perceived to be somewhat something of an attempt to build a shield to defeat the media reforms bill from becoming law. The freedom of speech threat appears to have credibility, but my view is that it is more about an attempt by those with vested interests to block the Nine-Southern Cross merger. As it stands, violent opposition to media reform is coming from all places, from News Corp’s Williams, Seven West’s Stokes, Ten Network’s Murdoch, Packer, Rinehart, Gordon and McLennan, Fairfax’s Hywood, and others. The potential success of a Nine/Southern Cross merger will create a $4 billion media giant which will dwarf Seven West at $2.4billion itself, and leave Murdoch, Packer, Stokes, Gordon, Rinehart, McLennan, and others with weakening investment positions in Ten, Seven West and Fairfax. Given the power of the opponents, I think the reforms will be defeated since it must go through in one package as Sen. Conroy said there will be no bartering. The freedom of speech threat is an effective Trojan horse, and I don’t blame them. Long on NWS, TEN, SWM, FXJ, APN. Short on SXL.

                                      Commenter
                                      Gordon Gekko
                                      Date and time
                                      March 14, 2013, 9:33AM
                                      • TV media is dying, once the boomers die off it will be all internet. There is much more diversity on the internet.
                                        I get virtually zero of my "news" content from TV, and completely "zero" from 7,9 and 10 (P.S. Remember 9 and 10 are having cash-flow problems, I wonder why?)
                                        I dislike this legislation because it may be an attempt by this govt. and futures govts. to attempt to "filter" the internet again. Didn't Senator Conroy realize he failed in the censorship thing when he tried that nonsense with the NBN? Didn't he see how that movie ended and who the lead actor was?
                                        Forfeiting more freedom to the morons in Canberra and other Commissar's employed by the "government" for our "protection" is so incredibly short-sighted it isn't funny.
                                        Remember this quote "Any society that would give up a little liberty to gain a little security will deserve neither and lose both."

                                        Commenter
                                        Bye Bye Fiat Money
                                        Date and time
                                        March 14, 2013, 10:49AM
                                      • I don't think TV media is dying. If that were the case, those big guns - Stokes, Packer, Murdoch etc - wouldn't be buying in, and Nine and Southern Cross would be losing money. Those people are outstanding businesspeople, and they are not stupid. But you're right about diversity of media, and I use it myself, but I'd rather watch sport on TV than a computer screen, since "live" broadcast is much more real. What will eventually happen is TV will merge with the internet into one, so we will end up watching TVNet. But only when technological hardward/software is strong enough to produce the goods reliably and without misaligning voice/images. And free too!

                                        Commenter
                                        Gordon Gekko
                                        Date and time
                                        March 14, 2013, 11:13AM
                                      • I also dont think TV is dying in its current form but it will be transformed over the comming years and the idea of Internet/TV unity is probably correct. The problem will be that the news and information media will still remain in the hands of just a few people. Also, given Australias inability to cope with rapidly developing technology and the obscene price we are charged for internet and mobile services, the consumer is set to endure many years of substandard service and of being mercilessly robbed by the providors. Conroys NBN plan, by the way, adds to the problem, it is too expensive and too monopolised. Thats the problem with allowing government to design and control technology, they are not qualified, and their raison d'etre is not at all alligned with ours.

                                        Commenter
                                        A baby boomer- not planning on dying soon.
                                        Location
                                        A govmnt burnt coun.
                                        Date and time
                                        March 14, 2013, 11:39AM
                                      • Channels 7, 9, and 10, and equally Foxtel, will be restrained by the programming they can make themselves, or events they can get the exclusive rights to, in order to attract a customer.
                                        Once the NBN is live and the World of TV distribution moves on, events such as the AFL, or NRL (the Golden Goose of Foxtel) will be distributing it itself via its own subscription model. This will move more of the profit to the leagues and the clubs. It's already happening in the UK with Man Utd and Chelsea TV.
                                        So that will leave channels 7, 9, and 10 with the dross of Weight Loss bun fights, Biggest Brother ridiculous, and My reno is better than your reno crap. There ain't money in shows like this and they will fold unless they re-invent themselves for an IP-TV revolution that the NBN is going to bring.

                                        Commenter
                                        Internet TV watcher
                                        Location
                                        Melbourne
                                        Date and time
                                        March 14, 2013, 1:19PM
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