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Markets Live: Shares dive lower

Date

Banks and miners have pushed the market further down, while Aurizon and Treasury Wine Estates announce write-downs.

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  • Is it a trifecta if you have 3 shares in the worst performing section?

    Commenter
    confused
    Date and time
    June 25, 2014, 5:09PM
    • eerily quiet.
      go watch margin call.
      and with the yanks orchestrating everything bar the thailand coup I can understand why they arent panicking......yet.

      Commenter
      smilingjack
      Date and time
      June 25, 2014, 5:01PM
      • @3:57pm - While I admire Gerry's enthusiasm for going to work at age 75, I think he is one of the handful of people that have a job where he is well paid, gets to have his opinion on anything he wants and people listen. Meanwhile doesn't do any real work at HVN (we all know who the real workers there are), can go missing from the office at any time to go play so golf, or listen to the horse racing on the radio. I mean the guy doesn't even have his own computer, what functional output can he really have? I guess you can do that when you are the boss and major shareholder in essentially Australia's biggest family listed business??? I bet Gerry isn't going to want to come to work so much when retail property prices/rents collapse in Australia.

        Commenter
        Who me?
        Location
        syd
        Date and time
        June 25, 2014, 4:06PM
        • Agreed. I wonder how he would feel about it if he were digging ditches for a living...

          Commenter
          confused
          Date and time
          June 25, 2014, 4:48PM
        • Yes, Australian billionaires are full of advice for the rest of us much of which seems suited to their own agendas. I suppose selling overpriced electronics and furniture or digging up our resources for the cheapest possible labor cost to onsell to the world for a fat, tax-free profit gives them that special feeling that they know better and can serve as useful models for the rest of us. Thankfully the rest of us see them for what they are.

          Commenter
          mitch of ACT
          Date and time
          June 25, 2014, 5:01PM
      • "The exponential trend in solar watts per dollar has been going on for at least 31 years now. If it continues for another 8-10, which looks extremely likely, we’ll have a power source which is as cheap as coal for electricity, with virtually no carbon emissions. If it continues for 20 years, which is also well within the realm of scientific and technical possibility, then we’ll have a green power source which is half the price of coal for electricity."

        http://blogs.scientificamerican.com/guest-blog/2011/03/16/smaller-cheaper-faster-does-moores-law-apply-to-solar-cells/

        And when does peak usage occur? That's right, in the middle of Summer when everyone turns on their air con.

        "My colleagues, Weili Cheng and Phillippe Larochelle, and I recently showed that 100 per cent of the 2006 USA electrical load could have been covered on an hour-by-hour basis for the whole year solely from wind and solar energy. No baseload power required."

        http://www.abc.net.au/science/articles/2010/12/02/3081889.htm

        And on top that energy consumption is falling. I have a HTPC running in the lounge room that decodes mp4 hi def video at 9W.

        New 4K 28" monitors can run on 35W. They used to be 230W.

        The myth that coal is required for baseload power is a myth.

        Commenter
        Allan
        Location
        Prahran
        Date and time
        June 25, 2014, 3:45PM
        • The notion that solar can replace other base load sources such as hydro, which all electricity networks must have is a pipe dream.

          Commenter
          Nurk
          Date and time
          June 25, 2014, 5:11PM
      • Add to TON at 39c. Now 36c.

        Commenter
        confused
        Date and time
        June 25, 2014, 3:44PM
        • Grrrr UBS when will you finish shorting the sh*t outta NXT its becoming very boring....let them grow will ya!!

          Commenter
          BearshapedBull
          Location
          Mugpunters Lounge
          Date and time
          June 25, 2014, 2:46PM
          • Much of this land Harry's developing is in previously industrial areas. Swap industry for housing?...So what do the carbon brigade say about people living in say Botany (only developments allowed are from industrial to residential) and having to TRAVEL west to work? Australia. We've gone mad.

            Commenter
            JohnBB
            Date and time
            June 25, 2014, 2:41PM
            • @2:11 article...How about everyone just hires the best candidate for any job.
              The whole problem with quota's is it gives people the "oh a quota hire" regardless if it is or not.
              I'm still waiting to laugh the day a man sues for discrimination for not being hired because the company has a quota or policy, just putting the work positive does not change what is it.
              PS I have worked with and admire many women in my career ranging from direct reports, bosses, and peers.

              Commenter
              Wwwish Lion
              Location
              Melbourne
              Date and time
              June 25, 2014, 2:20PM
              • Exactly @Wwwish, my most recent 2 deputies in a staff of 108 were both females chosen on merit!

                Commenter
                craig
                Date and time
                June 25, 2014, 2:45PM
              • In the US the quota system is alive and well. The Silicon Valley internet company Yahoo recently stated that they are "too male, too white" and that they intended to hire more minorities.

                However, on closer inspection this assessment doesn't hold up. Too male yes, too white no. The number of whites at Yahoo is actually below national average. Turns out that 30% of Yahoo's employees are Asian, way above national average. Yahoo should thus - in a fair world - sack Asians and employ slightly more whites and lots more blacks and hispanics.

                Commenter
                Dr No
                Location
                Sydney
                Date and time
                June 25, 2014, 2:49PM
              • I know of two positions in the finance industry that have been held open for 6 months, purely because it was mandated to be filled by a suitably qualified and experience woman. I think we go off the deep end when we are trying to fill roles with a particular gender when perhaps their just aren't many women interested in the role, and of the ones that are, the experience just might not be there, and if you aren't willing to attract that kind of experienced talent with a premium offer to the rest of the market, then what do you expect?

                Commenter
                who me?
                Location
                syd
                Date and time
                June 25, 2014, 3:02PM
              • Tony Abbott has taken the cause of female advancement in this country right back to the 50's. How can the government bring in affirmative action for business when their own example is so poor? There are so many reasons why women are so poorly represented in executive positions, and quotas may be a way to open some doors, but the underlying culture of the country has to change before true equality will be achieved.

                Commenter
                confused
                Date and time
                June 25, 2014, 3:37PM
              • @confused, what exactly did Tony do to set women back to the 1950's?
                I didnt see a seperate ladies lounge at the pub last weekend, and I think they can still vote...umm

                Commenter
                Wwwish Lion
                Location
                Melbourne
                Date and time
                June 25, 2014, 3:58PM
              • wwwish Lion, my point is that when the leader of the country chooses to exclude women from his own cabinet, it strengthens the perception that it's OK to exclude women from top roles in business as well.

                Commenter
                confused
                Date and time
                June 25, 2014, 4:53PM
            • Depends what you call 'spicing up' a CV in terms of whether or not we all do it. Using words that are open to interpretation - e.g. "Implemented company-wide XYZ system" (truth: installed the XYZ software on the PCs of the company's 5 employees) is dodgy but I guess it's their problem for not questioning what that meant. But "CEO of the Galaxy" or false accreditations and degrees should not only be grounds for dismissal, but also potentially grounds for recovering the cost of being tricked into hiring such a fraud.

              Commenter
              Gareth
              Location
              Sydney
              Date and time
              June 25, 2014, 2:06PM
              • Hey look an admission of totally incompetence......
                "Recruiters say the rise of LinkedIn and the difficulty checking some people's references has made it harder to ensure someone's employment history stacks up."

                Read more: http://www.smh.com.au/business/fudging-your-way-to-the-top-job-20140625-3ase1.html#ixzz35cMIIByH

                Commenter
                BearshapedBull
                Location
                Mugpunters Lounge
                Date and time
                June 25, 2014, 1:42PM
                • Why is Harry Triguboff able to sit on land when pretty much all of GenY struggle to find somewhere to live?

                  Commenter
                  JohnBB
                  Date and time
                  June 25, 2014, 1:36PM
                  • "Job ads are nearly 60 per cent below their March 2008 peak."

                    Housing boom!

                    Commenter
                    Allan
                    Location
                    Prahran
                    Date and time
                    June 25, 2014, 1:29PM
                    • EDs what times MVF hitting the boards?

                      EDs: Hi BSB. Not due until midday tomorrow. Apparently they extended the date a fortnight ago and we missed it. Chrs

                      Commenter
                      BearshapedBull
                      Location
                      Mugpunters Lounge
                      Date and time
                      June 25, 2014, 1:14PM
                      • yeah thanks i lost interest after i found out about the "exclusive" not so public IPO
                        maybe a sharp drop will be in store...heres hoping

                        Commenter
                        BearshapedBull
                        Location
                        Non Sophisticated Investors Lounge
                        Date and time
                        June 25, 2014, 3:17PM
                    • The comment at 12.56 pm and world uncertainty is good enough for me to leave the hard earned in the bank for a couple of days. Who knows what will happen in the short term, so keep your cash at the ready for the next opportunity

                      Commenter
                      cyril
                      Date and time
                      June 25, 2014, 1:13PM
                      • I'm with you, Cyril. I'm holding off until I see good reason to get back in. And so far, my self-discipline has been good enough not to get excited by days like the last Thursday when there was a bit of a surge.

                        Commenter
                        Gareth
                        Location
                        Sydney
                        Date and time
                        June 25, 2014, 2:19PM
                    • "Sunni extremists are inching closer to Baghdad. A housing bubble in China is deflating. Russia is massing troops near the Ukrainian border again. Military forces in Egypt and Thailand have staged coups."

                      Not to mention the $100T global debt.

                      Housing boom!

                      Commenter
                      Allan
                      Location
                      Prahran
                      Date and time
                      June 25, 2014, 1:10PM
                      • There are Shia in Baghdad already..the Sunni won't make it any worse; Chinese property owners can always switch to Australian property; the Russians occupied Ukraine for 300 years so just being on the border is an improvement; Egypt now has an elected President and it is business as usual in Bangkok....the world is no more dangerous than it has been for the past 10,000 years.

                        Commenter
                        Buynhold
                        Date and time
                        June 25, 2014, 4:19PM
                    • @1256 comment
                      could it be that the market is finally fully valued......saturation point?

                      Commenter
                      BearshapedBull
                      Location
                      Mugpunters Lounge
                      Date and time
                      June 25, 2014, 1:08PM
                      • A lot of regular doomers want to be able to say they predicted the next GFC. Eventually they will be correct. The biggest negative on the horizon is an increase in interest rates in the USA. The worry is that an increase will slow growth. Of course the amount of debt in the world is like a straightjacket to consumption and drag on growth. So an increase in interest rates will exacerbate the curse of high debt. But not tonight.

                        Commenter
                        Wally
                        Location
                        Flynn
                        Date and time
                        June 25, 2014, 1:26PM
                      • debt jubilee Wally
                        Its the only way I reckon

                        Commenter
                        mushy
                        Date and time
                        June 25, 2014, 2:22PM
                      • @Mushy. Debt Jubilee is a great idea. I would like know how it would be implimented.

                        Commenter
                        Wally
                        Location
                        Flynn
                        Date and time
                        June 25, 2014, 2:56PM
                    • Looking at an entry on ANZ..thinking 33.30ish just missed it this morning,maybe friday will be the day.

                      Commenter
                      BearshapedBull
                      Location
                      Mugpunters Lounge
                      Date and time
                      June 25, 2014, 1:03PM
                      • Oil price up and looking like staying that way..oil stocks down
                        Gold price up and steady at top of resistance...gold stocks down
                        guess theres more at play EOFY wise for the big end,is the only take i can.
                        got outta GOR way too early aww well.

                        Commenter
                        BearshapedBull
                        Location
                        Mugpunters Lounge
                        Date and time
                        June 25, 2014, 12:57PM
                        • Yes mate, good time to be very circumspect at the moment...I like ANZ too but will wait for a week or so to see what transpires, good luck @ $33.30, Think I will wait to see how Iraq plays out!

                          Commenter
                          cyril
                          Date and time
                          June 25, 2014, 1:30PM
                        • Spot gold is down from $USD1318 to $USD1312oz, that's at least part of it. But there is some heavy handed selling on NCM today. They just keep crossing the spread with $100k orders.

                          Commenter
                          Slack
                          Date and time
                          June 25, 2014, 1:36PM
                        • Yep..Making good money from Oil, silver, palladium and platinum. Much better than the expensive insider-traded, casino AORD's.

                          Commenter
                          JohnBB
                          Date and time
                          June 25, 2014, 2:16PM
                      • The looming blocking of key measures in the budget will be the downfall of Opposition leader Bill Shorten as his motives are purely politically based and not considering the overall picture on the financial state of the economy, As for the Greens and their opposition to the fuel excise just shows what a joke they are.

                        No Government is going to deliberately deliver an unpopular budget, but one that is designed to repair the fiscal dilemma that the country finds itself in.

                        The bigger proportion of the voting public understand that and be very very sure that will be reflected in the next election when the results and resultant tax cuts will come to fruition.

                        Commenter
                        craig
                        Date and time
                        June 25, 2014, 12:44PM
                        • Incidentally, my comments don't extend towards people that are politically informed (e.g. Mitch) and for their own reasons, prefer the ideology of one party over another. People like that I have respect for and recognise their own credible reasons for preferring a particular system.

                          Commenter
                          Gareth
                          Location
                          Sydney
                          Date and time
                          June 25, 2014, 1:18PM
                      • SGX futures trading for iron ore indicates another jump up overnight. 20 SCI Jul31'14 contracts traded at an average price of ~95.20. Trades occurred at 11:32. Explains the extra kick to FMG today.

                        Commenter
                        Slack
                        Date and time
                        June 25, 2014, 12:19PM
                        • Hi Slack - thanks for the Iron Ore Update .. I have yet to decide to subscribe to the site you mentioned...how often do you get these updates??

                          Commenter
                          mirage
                          Date and time
                          June 25, 2014, 12:38PM
                        • 2nd that mirage.
                          thanks slack

                          Commenter
                          mushroom
                          Date and time
                          June 25, 2014, 12:49PM
                        • The trades are reported in real-time, in the same way you see trades on the ASX. SGX futures exchange opens at 11:00am AEST, so futures trading can be a good indicator of the overnight change in the ore price.

                          Commenter
                          Slack
                          Date and time
                          June 25, 2014, 12:49PM
                      • massive wick on the 2 hr chart. gonna break this lvl sometime soon.
                        who knows tho?

                        Commenter
                        J
                        Location
                        syd
                        Date and time
                        June 25, 2014, 12:02PM
                        • ASX down again. All the good stocks down but XRO the company that just like it's name Zero Dividends and Zero profit up 3%. The ASX is not a financial body it's a circus.

                          Commenter
                          Richard
                          Location
                          Sydney
                          Date and time
                          June 25, 2014, 11:25AM
                          • Spi up 14 points during the night and then after the US went down ended up 28 points down. Sure enough at 9.50am the Spi gets reset and down they go further. So once again the ASX goes down more than the Dow even though it doesn't go up with them. How did NZ fare oh they are down 1 point. FTSE down 13 points. How do we go down 50 points. It keeps happening and doesn't make sense. Whenever the Spi is down it gets reset lower and whenever the Spi is up it gets set lower.. You either Lose or you Lose. ASX up 350 points in 4 years 7% or less than 2% each year of growth. The ASX is an absolute JOKE. So punters in the US take some profit our market drops half a years growth in 10 mins. We're not taking profit because there is none. Someone is having a lend.

                            Commenter
                            Macca
                            Location
                            Sydney
                            Date and time
                            June 25, 2014, 11:19AM
                              • ASX is labouring under the high negative sentiment brought on by the budget. This means that even a gust of wind is enough to send the punters racing for the door. Sentiment is improving though so come July these punters will need to top up to get the August dividend fest.

                                Commenter
                                Wally
                                Location
                                Flynn
                                Date and time
                                June 25, 2014, 11:54AM
                              • Is there supposed to be some point to this incoherent rant? Does someone have to point out to you again that different countries have different stock exchanges? You seem convinced that the whole world is a single, connected market. It isn't.

                                Commenter
                                confused
                                Date and time
                                June 25, 2014, 12:01PM
                              • @confused, if we had a gov't that inspired more confidence in consumers than scaring the bejesus out of them with massive cuts announced with more to come, then the ASX might perform better and not be so frightened by events o/seas that shouldn't really affect us. Look at NZ, booming, while we are staring at stagnant growth and rising unemployment.

                                Commenter
                                mitch of ACT
                                Date and time
                                June 25, 2014, 12:38PM
                              • none of the other markets you mention have a large resources component

                                Commenter
                                Jim in Glenory
                                Date and time
                                June 25, 2014, 12:44PM
                              • Confused. ASX only connected with US when the US goes down as in the GFC. Dow down 54.01% and ASX down 54.02%. In the last 5 years every time the Dow was down the ASX was down as much or more., Last night the US drops (from their record highs) even though our market fell yesterday and Friday the SPi fell faster than an Austrian Skier and continued again at reset 9.50am. Don't care if the US go up 1000 points in a day and we get none as long as we don't lose any when they do. But it's not like that 350 points in 4 years in a bull market is a pathetic performance. The next thing we will see is the Dow Jones reaching new record highs and the ASX left floundering like a fish out of water. The ASX is a joke.

                                Commenter
                                Macca
                                Location
                                Sydney
                                Date and time
                                June 25, 2014, 2:12PM
                              • The ASX200 was 4,413.0 at COB on 25 June 2010, i.e. 4 years ago. The index has thus gone up over 980 points since then to now. A return of over 22%, or a little over 5%pa. Where do you get your index information from? Every time I read a post by you about an ASX index it is wrong!

                                Commenter
                                Parraloco
                                Location
                                Syndey
                                Date and time
                                June 25, 2014, 2:46PM
                              • Stop trying to find a correlation where there is none.

                                Commenter
                                below criticism
                                Date and time
                                June 25, 2014, 3:11PM
                            • @ 10:51am: Classic real estate industry standards. Tighten those screws and charge more for doing the same amount of work under the guise of "heighten demand". REA are just as bad as the real estate agents themselves.

                              Commenter
                              DR
                              Location
                              syd
                              Date and time
                              June 25, 2014, 10:55AM
                              • Measure a countries health by GDP per ca pita and we are missing the point.

                                Commenter
                                Ryan
                                Date and time
                                June 25, 2014, 10:50AM
                                • We'll all be working for global minimum wages with massively rising cost of living. I haven't missed it. 99% of people have though. God help our kids.

                                  Commenter
                                  JohnBB
                                  Date and time
                                  June 25, 2014, 12:34PM
                              • Is now a good time to buy?

                                Commenter
                                Oliver
                                Location
                                Sydney
                                Date and time
                                June 25, 2014, 10:32AM
                                • as good as any, just have to wade your way through all the rubbish thats out there at the moment champ.

                                  Commenter
                                  insert name
                                  Date and time
                                  June 25, 2014, 10:41AM
                                • We started this year at 5350 index and today we are at 5365. If there are no major events in 2H of this year, we should see some growth in our stock market. I would say its a BUY market.

                                  Commenter
                                  Essen
                                  Date and time
                                  June 25, 2014, 10:47AM
                                • For RIO and BHP, it is not far away from pressing the button.

                                  Not the banks though!

                                  Commenter
                                  Twist
                                  Date and time
                                  June 25, 2014, 10:49AM
                                • This is just my opinion, but I won't be buying anything in the remaining days of this FY. I think it will go down a bit more (especially the banks).

                                  Commenter
                                  Gareth
                                  Location
                                  Sydney
                                  Date and time
                                  June 25, 2014, 11:00AM
                                • It appears as though 5380 is the new floor so in short the answer to your question would be a yes!

                                  Commenter
                                  Mister5100
                                  Date and time
                                  June 25, 2014, 11:01AM
                              • I noticed 300,000 Telstra shares traded at 7:05am this morning at $5.40. This is quite a premium to its current trading price. What are these trades and what is the benefit for whoever did it?

                                Commenter
                                Gareth
                                Location
                                Sydney
                                Date and time
                                June 25, 2014, 10:12AM
                                • One can only wonder at the "Machinations" of some of these large funds but possibly to do with the end of the Tax year. Buying from Peter to pay Paul so to speak. A loss against a profit and possibly profit against a loss. Adjustment time perhaps that may affect their Tax liability. These large organisations have often complicated portfolios and interlinked company structures and they have possibly also concluded that 23rd Mays $5.40 near term high might be Telstra's peak for some time.

                                  Commenter
                                  PDJ
                                  Location
                                  Hi
                                  Date and time
                                  June 25, 2014, 10:57AM
                                • They are option exercises (puts)

                                  Commenter
                                  D
                                  Location
                                  Sydney
                                  Date and time
                                  June 25, 2014, 11:06AM
                                • @D, so the options were about to expire and the owner figured they were worth buying at $5.40? Why would they not let the options expire instead and buy @ market today for around $5.18.

                                  @PDJ, yes that makes sense as well.

                                  Commenter
                                  Gareth
                                  Location
                                  Sydney
                                  Date and time
                                  June 25, 2014, 11:22AM
                                • Sorry D, misunderstood. Yes, the buyer is obligated to buy the put option so it makes sense. Thanks.

                                  Commenter
                                  Gareth
                                  Location
                                  Sydney
                                  Date and time
                                  June 25, 2014, 11:27AM
                                • Please check https://www.asxonline.com/intradoc-cgi/groups/participant_services/documents/manuals/asx_016426.pdf
                                  for ASX status codes . The staus code against this transaction is EP (Exercise Puts)

                                  Commenter
                                  xyz
                                  Date and time
                                  June 25, 2014, 11:36AM
                              • Is a pan middle east conflict good or bad for markets?

                                Discuss.

                                Commenter
                                Allan
                                Location
                                Prahran
                                Date and time
                                June 25, 2014, 10:07AM
                                • pretty obvious I would have thought...

                                  Commenter
                                  robbo
                                  Date and time
                                  June 25, 2014, 10:16AM
                                • In short, good for Israel, bad for everyone else.

                                  Commenter
                                  Dr No
                                  Location
                                  Sydney
                                  Date and time
                                  June 25, 2014, 10:27AM
                                • good for the markets of course. anything to encourage an over reaction from flip flop investors, this should encourage a few to drop their bundles and get the market down that extra few points.

                                  Commenter
                                  flip flop
                                  Location
                                  Hawk
                                  Date and time
                                  June 25, 2014, 10:46AM
                                • Difficult question as the influence of huge capital stores in the Oil rich middle east will surely cause ripples through the world economy.. I am not sure they will want it in the hands of radical islam..which means more uncertainty for the rest of us..it could be very bad indeed

                                  Commenter
                                  Lean Too
                                  Date and time
                                  June 25, 2014, 11:06AM
                                • Depends on what you're doing in the market doesn't it Allan. If share prices and indices didn't move none of us would be here.

                                  Commenter
                                  Forry
                                  Location
                                  at home
                                  Date and time
                                  June 25, 2014, 12:01PM
                              • "US data sinks dollar"
                                Really? I remember about a few months back GDP was revised -1% for the Q1, and if I'm not mistaken people are suggesting it will be revised down to -1.5 to -1.9%, bullish the USD right? Oh it was all the weather, my mistake......

                                I'm praying for that big Q2 hockey stick!
                                /sarcasm off

                                Commenter
                                Bye Bye Fiat Money
                                Date and time
                                June 25, 2014, 10:04AM
                                • In the first two weeks of June, 50% of German electricity came from solar power alone. 50%.

                                  Even the UK has broken its solar production record this month.

                                  Solar continues its march, as Australia falls further behind, but the coal merchants don't want to listen.

                                  Commenter
                                  Fred
                                  Date and time
                                  June 25, 2014, 10:03AM
                                    • ok, so what do you recommend should happen?

                                      Commenter
                                      interested
                                      Date and time
                                      June 25, 2014, 10:11AM
                                    • "Unsubsidised renewable energy is now cheaper than electricity from new-build coal- and gas-fired power stations in Australia, according to new analysis from research firm Bloomberg New Energy Finance."

                                      http://about.bnef.com/press-releases/renewable-energy-now-cheaper-than-new-fossil-fuels-in-australia/

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      June 25, 2014, 10:13AM
                                    • @ interested

                                      Our anti-science government could stop its assault on renewable energy, and stop preaching the nonsense that "coal will power the world for decades to come"

                                      A clear example is the government's planned abolition of the Clean Energy Finance Corporation. This body makes a profit for the government. So in the context of a 'budget emergency' the government would prefer to abolish an income stream all because it encourages an alternative to coal.

                                      BTW, how many global investment banks are we up to now that have refused to be involved with Abbott Point?

                                      Commenter
                                      Fred
                                      Date and time
                                      June 25, 2014, 10:22AM
                                    • I recommend that subsidies continue to be used to speed up the move to renewable energy.

                                      Subsidies created a market which leads to economies of scale, which leads to investment, which leads to improvement in technology which leads to improved efficiencies.

                                      Clearly subsidies work.

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      June 25, 2014, 10:40AM
                                    • @Fred, I was looking for your proposed solution with great anticipation, however, all I got was a political rant. Seriously how would you turn this around and where would the money come from to bring in your proposal?

                                      Commenter
                                      interested
                                      Date and time
                                      June 25, 2014, 10:56AM
                                    • Don't know if you're being sarcastic Allan but I'll bite. How about cutting the subsidies for other forms of energy, thus leveling the playing field a bit more for renewables?

                                      Commenter
                                      Bye Bye Fiat Money
                                      Date and time
                                      June 25, 2014, 11:09AM
                                    • @interested

                                      I gave you a very clear example of something that might be done - retain the profit making Clean Energy Finance Corporation. If you choose to dismiss that as a 'political rant', fine, but if you support its abolition could you please explain why?

                                      Commenter
                                      Fred
                                      Date and time
                                      June 25, 2014, 11:14AM
                                    • The 50% was reached at midday in mid-Summer. I'm not against solar energy, but it does only work during sunlight hours. So for countries at higher latitudes, it would be fantastic in summer with the long sunlight hours, and virtually useless in Winter. Storage options are not feasible (batteries are expensive and an environmental disaster). So realistically, solar does have a place here and there but it will always need to be supplemented by something else. It's a shame people are so scared of nuclear.

                                      Commenter
                                      Gareth
                                      Location
                                      Sydney
                                      Date and time
                                      June 25, 2014, 11:49AM
                                    • Sadly during the peak hours the Germans had to get their power from France. France has indicated that it will refuse to supply Germany as its demand is beyond French ability.

                                      Commenter
                                      bubbles
                                      Location
                                      galore
                                      Date and time
                                      June 25, 2014, 11:59AM
                                    • In the first few weeks of June German underlying power costs for people and business was up 75%. In addition, the load up to hazardous materials recycling for June 2018 was up 50%.

                                      Got to look at the complete picture.

                                      Commenter
                                      ALittleToTheRight
                                      Date and time
                                      June 25, 2014, 12:18PM
                                    • Oh that is an easy one, just another unnecessary over resourced bureaucracy creating meaningless jobs for imaginary things!

                                      Commenter
                                      interested
                                      Date and time
                                      June 25, 2014, 12:28PM
                                    • People used to say solar and wind were not feasible.

                                      Now they have been forced to agree they are feasible but now they say storage is not feasible.

                                      More like they are invested in fossil fuels and don't want to lose money.

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      June 25, 2014, 12:34PM
                                    • Allan, how does a single moment in time (midday in mid Summer) indicate something is 'feasible'? Anyone right now could build a big enough solar array for any city such that you get 100% of your power needs at midday in mid-summer, but how do you build one that does that 24 hours a day, 365 days a year?

                                      Commenter
                                      Gareth
                                      Location
                                      Sydney
                                      Date and time
                                      June 25, 2014, 1:33PM
                                    • @Allan would that be like the US agricultural subsidies? that harm farmers all around the world. Subsidies are only required when the economics don't work.

                                      Commenter
                                      james
                                      Date and time
                                      June 25, 2014, 1:52PM
                                    • Enjoy your base load solar power station.

                                      Commenter
                                      Nurk
                                      Date and time
                                      June 25, 2014, 2:57PM
                                    • "In total, the fossil fuel industry will have received more than $111 billion dollars in support between 2005 and 2016"

                                      LOL you walked straight into that one.

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      June 25, 2014, 3:33PM
                                    • get a bulk order of panels from china and run a government installation scheme where the sparkies are all qualified and get paid $40 per hour and have set quotes for panels per hour. not a union in sight.
                                      Im talking a million panels - at least.
                                      start solar recharge points for cars.

                                      Commenter
                                      smilingjack
                                      Date and time
                                      June 25, 2014, 5:04PM
                                  • The little scrap in Iraq that caused the DOW to dip by 0,7% at the close will have our market panic merchants in a fluster this morning. Would not be surprised to see the ASX drop by 75 points today as it is just the excuse needed to bring about a short term correction.

                                    Commenter
                                    robbo
                                    Date and time
                                    June 25, 2014, 9:41AM
                                    • nothing wrong with a short term correction if you have been waiting for it.

                                      Commenter
                                      Name
                                      Date and time
                                      June 25, 2014, 11:02AM
                                  Comments are now closed