Comments on: Worst day’s trading since 9/11 http://www.crikey.com.au/2008/09/16/worst-days-trading-since-911/ now with extra source Sun, 12 Feb 2012 02:48:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Andrew http://www.crikey.com.au/2008/09/16/worst-days-trading-since-911/#comment-22309 Andrew Thu, 01 Jan 1970 10:00:00 +0000 #comment-22309 I agree. The idea that a country can do one thing well - like digging up iron - and buy whatever else it needs is a fantasy of market economists who forget that markets are themselves transient and delicate. When there is a severe oil or food shortage the price does not go up endlessly, it goes to a point where the market cracks and the product is not available at any price. Having been led down this path for 30 years, this country had better hope all future emergencies can be solved with iron and lanoline, because thats just about all we make for ourselves. I agree. The idea that a country can do one thing well - like digging up iron - and buy whatever else it needs is a fantasy of market economists who forget that markets are themselves transient and delicate. When there is a severe oil or food shortage the price does not go up endlessly, it goes to a point where the market cracks and the product is not available at any price. Having been led down this path for 30 years, this country had better hope all future emergencies can be solved with iron and lanoline, because thats just about all we make for ourselves.

]]> By: Venise Alstergren http://www.crikey.com.au/2008/09/16/worst-days-trading-since-911/#comment-22310 Venise Alstergren Thu, 01 Jan 1970 10:00:00 +0000 #comment-22310 Chrys: I don't wish to depress you even more than you seem in your comment. However, I've gotta say Australia began to lose all of its entrepreneurial spirit, all middle management skills, all systems of apprenticeships and all aspirations of a better future during the reign of Robert Gordon (pig iron) Menzies. And, as far as the coalition is concerned, it has been a steep ski slope (black) ever since. I'm not trying to whitewash the Labor Party, but until Kevin Rudd came along, no one thought of economics as being a Labor specialty. Whereas the Coalition was always ramming it down the voters' necks, as to what good economists they were (do I hear 'the world's greatest treasurer' being mentioned? Why bother training young people with special skills? It's much easier to import skilled workers. Australia has a desperate need of brain power to ensure our financial stability. So what happens? As soon as someone has talent, they leave the country. Very few Aussies can cope with the thought that our mineral wealth can't last for ever. Why does the share market have to reflect the shonky practices of the American financial system? You mention infrastructure; what infrastructure? Don't you know that as long as there are endless footy matches, with another Olympics every fourth year, Australians will be more than happy. Ensure our 'house' cannot be repossessed? Give over, we sold the house, the farm, the back garden, the major shareholdings in our mining companies, some time around 1970-1980. And we have nothing to replace them.<br />This is the sordid truth about Australian irreverence and individualism. Chrys: I don’t wish to depress you even more than you seem in your comment. However, I’ve gotta say Australia began to lose all of its entrepreneurial spirit, all middle management skills, all systems of apprenticeships and all aspirations of a better future during the reign of Robert Gordon (pig iron) Menzies. And, as far as the coalition is concerned, it has been a steep ski slope (black) ever since. I’m not trying to whitewash the Labor Party, but until Kevin Rudd came along, no one thought of economics as being a Labor specialty. Whereas the Coalition was always ramming it down the voters’ necks, as to what good economists they were (do I hear ‘the world’s greatest treasurer’ being mentioned? Why bother training young people with special skills? It’s much easier to import skilled workers. Australia has a desperate need of brain power to ensure our financial stability. So what happens? As soon as someone has talent, they leave the country. Very few Aussies can cope with the thought that our mineral wealth can’t last for ever. Why does the share market have to reflect the shonky practices of the American financial system? You mention infrastructure; what infrastructure? Don’t you know that as long as there are endless footy matches, with another Olympics every fourth year, Australians will be more than happy. Ensure our ‘house’ cannot be repossessed? Give over, we sold the house, the farm, the back garden, the major shareholdings in our mining companies, some time around 1970-1980. And we have nothing to replace them.
This is the sordid truth about Australian irreverence and individualism.

]]> By: chyrs http://www.crikey.com.au/2008/09/16/worst-days-trading-since-911/#comment-22311 chyrs Thu, 01 Jan 1970 10:00:00 +0000 #comment-22311 This international unrest is exactly why australia should be as self reliant as possible.. the gov. should be supporting our manufacturing and farming infastructure.. and STOP selling off our energy and water!! I don't mean for only their own value but , think out it, What do investors invest in? We would have more control over our/ more security in our share markets if our infastructure was secure.. Just look at the usa example.. their gov. had to bale out their two largest money lenders because they know there will be a domino effect. WHAT is our gov. doing to increase our resilience? A surplus of money is helpful..but only bandaid.. We must ensure our 'house' can not be repossessed ...<br /><br />P.S. I would miss Mr. Nelson at all. This international unrest is exactly why australia should be as self reliant as possible.. the gov. should be supporting our manufacturing and farming infastructure.. and STOP selling off our energy and water!! I don’t mean for only their own value but , think out it, What do investors invest in? We would have more control over our/ more security in our share markets if our infastructure was secure.. Just look at the usa example.. their gov. had to bale out their two largest money lenders because they know there will be a domino effect. WHAT is our gov. doing to increase our resilience? A surplus of money is helpful..but only bandaid.. We must ensure our ‘house’ can not be repossessed …

P.S. I would miss Mr. Nelson at all.

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