ASX bath of blood drowns banks

The Australian dollar is struggling this morning:

Bonds the usual flatline:

XJO is soft”

Big Iron is up:

Big Gas not:

Big Gold is:

Big Banks have been sucked back into the bath of blood:

WBC technicals tell the tale. Supports all broken:

Property crash!

David Llewellyn-Smith
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Comments

  1. While I have no illusion that the government will try – and may succeed – to one again being about property price growth, the end doesn’t change. There will be a crash and it will ruin the joint. It’s not if, but when.

    The big IF is will we learn from it?

    • Reus's largeMEMBER

      Trying to sway a BB from the belief that houses only ever go up in value is like trying to convince a fundamentalist that his god does not exist !

    • Sunlord BCNMEMBER

      Geordie
      The Government WONT succeed

      Geordie the problem with “when will we learn”

      Learning the hard way is good if the ones who do learn get a 2nd chance to get out

      Unfortunately there is no second chance
      We will never see property prices back at 17/19 levels again in our life time.
      We are at a structural end of a multi decade increase in prices, that we will never recover from

      Property as a viable investment class is finished and property will only be for a utility now, something to stop you getting pneumonia

  2. BoomToBustMEMBER

    House and Holes (and education) – And all are under attack at present. Unless we start bowing to our Chinese masters very soon this will end in spectacular form.

  3. The fact that banks in every single country has not joined the rally goes to show how sick the credit market is and how far the consumer is stretched. This is a bottom up collapse. It starts with the low income, low skilled and young workers and it will keep working its way up as spending contracts, cutback are made, hours reduced, jobs are lost up the chain. This is the biggest difference to the 2008 crash.

    • Just buy shares of whoever sells stuff overseas. Pretty simple. We’re just a big quarry remember.
      Unless the people in lockdown are those who are literally operating drillbits it doesn’t matter.