Coronavirus scare causing markets to fall

[Whitey-AMG]

Originally Posted by Tickford.

China is getting back to business. People are back on the streets. The reason they (and other Asian countries like S.Korea, Singapore, Vietnam for eg) have been able to beat this virus in a quick(ish) manner is due to the extreme measures they have taken and implemented.

If anyone has seen the videos on social media, it was military like armies of cleaning staff, sanitizing, disinfecting, etc. The procedures and methods they used would not be acceptable in a western country like Australia. It would not go down well with the litigation society that we are.

For that very reason, we need to be much more proactive in containing and eliminating this ****. Because we cannot do what China, S. Korea are doing to get rid of this virus. We have to be more careful - and what would seem like extreme measure to most, have to be taken. Australia needs to go into full lockdown mode asap. If not, just watch the number increase sharply over the next few weeks. Italy for example, went from 200 cases to over 17'500 cases in just 20 days.

Lets get this straight......
We are in this position because of certain "habits" for caging / handling / storing / selling and consuming specific types of animals under extremely stressful conditions for the animals involved over long periods. It disrupts their immunity and allows for certain types of viral infections to be transferred between animals that should never be in such close proximity for prolonged periods in the 1st place.. What should be acceptable and what isn't is very clear here....and its got nothing to do with being a litigation society. As confronting as this is, many countries are forced into positions that aren't culturally acceptable to them due to questionable / unregulated / unmonitored processes and habits cultured in other parts of the world.

Despite the huge amount of education and concern surrounding all of us at the moment, only today I caught someone rinsing their mouth in the kitchen sink at work as part of a culturally acceptable practice....... another cultural bridge headwind we need to deal with in a time of great uncertainty...

China getting back to business is a good thing as long as they have learnt a valuable lesson and we dont see a COVID mutation genesis in the same way it started in the 1st place. Spraying and military style cleaning intervention makes great TV footage but its REACTIVE and not PROACTIVE and not dealing with the issue at its root cause to prevent a future outbreak.

[Polyal]

Actually thats one thing I either havent paid to much attention to or its not on the radar, how ti all started, I call BS on the bat thing...

[Whitey-AMG]

Originally Posted by Polyal

Actually thats one thing I either havent paid to much attention to or its not on the radar, how ti all started, I call BS on the bat thing...

It may have its genesis in BATS, but BATS are not usually the cause of the spread, its usually an intermediate host that allows for the virus to amplify ( BATS have a natural biosystem for limiting the VIRUS ) This intermediate host could be a poor animal that doesn't usually come into contact with BATS or isnt even in the same country as the original BAT host. Caging animals together like this that aren't naturally hosted by nature in this way can cause a crossover..... Handling those host animals and interacting with them at times of distress and low / vulnerable immunity levels can lead to all sorts of unwanted transmissions.

Its all hypothetical because there is currently no proof on the origin and transmission, but its the most likley scenario based on previous SARS/COVID transmissions.

[GT0132]

Originally Posted by Peuty

Jeez there is some serious scare mongering in this thread, especially regarding superannuation and investments.

If you don't need your money (i.e., aren't nearing retirement, or in retirement), the absolute worst thing you can do right now is switch to a lower risk investment option. Any losses you saw on paper will be crystallised by doing so - a self-fulfilling prophecy.

This is a market correction in a long line of previous market corrections and one that was probably due to happen anyway. Ride it out if you are able, the market will bounce back - it always does.

Perfect opportunity to buy some cheap blue chip shares or units in a high growth managed fund.

Most sensible post in this thread

I'm about 6 years off retirement but converted my super balance and future contributions from growth to conservative about 6 months ago on the basis that, in my view, the stock markets in most OECD countries had experienced significant growth since 2016 and it just couldn't keep rising the way it had.

The talk by someone earlier in this thread about how they "predicted a depression" in 2020 is BS. No one could ever have known this was going to happen and the only negative economic news prior to this was the trade war between the US and China

I'll probably convert back to growth investments once the dust has settled.

The property market will, in my view, either continue to grow or at worst plateau provided there is no mass unemployment . While in businesses where most staff can work from home won't impact the productivity of those businesses, its the travel industry (and those that rely on it) that will be obliterated if this ain't fixed soon. Hotels, restaurants, tour operators

[b0son]

Originally Posted by GT0132

I'll probably convert back to growth investments once the dust has settled.

Same. During the GFC, I converted from 'balanced' to 'conservative' when the markets dropped from 6500 to 5000 points. The markets then fell to 3000. If I hadnt, I'd have had to wait 2 years to recoup the fall to 3000.

I did the same last week. The market may have settled for now, but it will almost certainly fall further as more countries lose control like Italy, whose market has already fallen 40% and they're nowhere near past the worst of it.

[GO FURTHER]

Originally Posted by smoo

Most likely, although authorities are talking of charging anyone who breaches, if they manage to catch them.

Cannot find any info of what those arriving into Aus have to do, it seems like a broad announcement... Are people to isolate in that city they land, or are they allowed to transfer to domestic terminal and take one or two domestic flights to where they are going to isolate to (defeats the purpose).

I heard on the radio this morning, that if you are officially told to self-quarantine, such as all incoming international passengers, your name goes on a register.

Police may to do "spot checks" to see if you are home.

Under the Public Health Act 2005, any failure to comply may be subject to enforced quarantine and receiving fines of up to $13,345 and other penalties.

[au2xr85.0]

i checked my super again today, lost another 5%

[Syndrome]

Second Great Depression cometh……….

[Yellow_Festiva]

Just say we put a total stop to the entire money market for 6 months.

All the below payments stopped / frozen / locked in place:

* Interest on loans / credit cards
* Rent / lease payments
* Shares / stock market transactions
* Property transactions
* Tax office payments / returns processing
* All fees / charges for living (rates, school, tax, water, electricity, power).

However we were able to still access pay should we be entitled to it, drawn from LSL / sick pay etc

Those that have money in Super able to get it with minimal fuss (10% or $10k, whichever is higher)

Those on benefits remain, those that need them apply and get them within 2 weeks.

So, essentially we freeze everything for 6 months (minimum) with the promise that once this is over we start to reply everything by adding a premium of 15% to what we didn't pay till we catch up.

We allow people to have money to live as a minimum. If they can do more then they elect to. If they can't then they have a minimum standard that will allow them to eat and have a roof over their head till things blow over.

I don't know... just thinking out aloud. This will pass and eventually life will return to normal. The pain is in the transition between now and when that happens.

Seems we are struggling due to lack of income or expenses we can't pay for.

I looked into the situation regarding accessing your Super. Not till mid April.

Why mid April?? It's just mind boggling that something that could be processed within a day needs such a drawn out delay...

I think a lot of people will breath easier knowing they have the security of a roof over their head and money to survive while waiting for this to blow over.

[Romulus]

Deleted. There's contradictory statements from Israel.

[CoupeKing]

Recession before depression.

[pwr4ce]

Originally Posted by Yellow_Festiva

Just say we put a total stop to the entire money market for 6 months.

All the below payments stopped / frozen / locked in place:

* Interest on loans / credit cards
* Rent / lease payments
* Shares / stock market transactions
* Property transactions
* Tax office payments / returns processing
* All fees / charges for living (rates, school, tax, water, electricity, power).

However we were able to still access pay should we be entitled to it, drawn from LSL / sick pay etc

Those that have money in Super able to get it with minimal fuss (10% or $10k, whichever is higher)

Those on benefits remain, those that need them apply and get them within 2 weeks.

So, essentially we freeze everything for 6 months (minimum) with the promise that once this is over we start to reply everything by adding a premium of 15% to what we didn't pay till we catch up.

We allow people to have money to live as a minimum. If they can do more then they elect to. If they can't then they have a minimum standard that will allow them to eat and have a roof over their head till things blow over.

I don't know... just thinking out aloud. This will pass and eventually life will return to normal. The pain is in the transition between now and when that happens.

Seems we are struggling due to lack of income or expenses we can't pay for.

I looked into the situation regarding accessing your Super. Not till mid April.

Why mid April?? It's just mind boggling that something that could be processed within a day needs such a drawn out delay...

I think a lot of people will breath easier knowing they have the security of a roof over their head and money to survive while waiting for this to blow over.

How would we do this ??

[Yellow_Festiva]

Originally Posted by pwr4ce

How would we do this ??

With legislation.

We needed more deliveries so trucking restrictions were instantly removed.

We told people to keep their distance and they didn't so we gave police powers to police it.

We needed to stop the spread so we closed borders.

How many people are going to live off credit cards at 21% while waiting for their support money to come through?

How many people will kill themselves between now and the recovery?

How many billions did the banks make in profit last year?

The first thing that should happen is the deferral of interest and loan repayments instantly when requested either online or by email.

Not in weeks / months. Not at the discretion of the person at the other end.

Other countries have done it already. But we need to kill people softly.

How many Billions are being spent to prop up the economy?

I'm still awaiting confirmation from ANZ if they will defer my loan repayments. Knowing them, they will make the application near impossible so I just give up and not bother.

CBA told me to first default on my credit card before I get help? What the hell is that going to achieve?? Why even suggest such a thing?

We are going to have thousands with a smashed credit rating that won't be able to refinance or get credit once this is over all because they asked for a deferral or a payment plan according to ANZ. What the hell will that achieve? Why kick people when they are down?

Is mass evictions / bankruptcy / loan defaults what we need right now?

I think there are greater powers at play here that actually want whole countries to collapse.

Look at the Centrelink lines today? Did any of those offices even stay open 30 minutes longer? Was it offered to staff?

Coles, Woolies and Aldi changed their opening hrs and buying restrictions over night, yet I bet the lines at Centrelink will continue for weeks with out of touch polies scratching their heads asking themselves "Hmmm, what can we do to make this better?"....

As a nation we still can't decide what is ok and what isn't and the information is so contradictory that it beggers belief our lives are in the hands of some of these people.

Play tackle footy, but don't shake hands at the end.

Kids should go to school, but should also be kept home.

Make sure you self isolate when yo get home but if you need to get home by passing thousands it's fine.

No one should enter sick, unless you happen to be on a cruise ship and that's OK.

If you pass immigration you will be asked to declare smokes, but your temp won't get tested.

It's just doom and gloom... we are literally setting ourselves up for self destruction.

[Yellow_Festiva]

Just tried to apply for access to my Super.

You can't say "I'm going to miss my next payment".

You can only apply after you have missed payment(s) and have received letters of demand.

Great, isn't it...

[GO FURTHER]

Originally Posted by Yellow_Festiva

I think there are greater powers at play here that actually want whole countries to collapse.

Let me just say this.

Sometimes when a PC has been running too long and giving problems, a complete restart is needed.

Only this time, the PC is our World, and the powers have just pressed the reset button.

[Polyal]

Originally Posted by GO FURTHER

Let me just say this.

Sometimes when a PC has been running too long and giving problems, a complete restart is needed.

Only this time, the PC is our World, and the powers have just pressed the reset button.

I think its overdue......Australia has been bouncing aroudn the edges for a long time.

The whole "we dodged a recession" thing was great but we haven't really improved the country we kept our head above water.

Bit early for that discussion though, its going to be interesting to see how long the virus lingers for.

[Whitey-AMG]

Originally Posted by Polyal

I think its overdue......Australia has been bouncing aroudn the edges for a long time.

The whole "we dodged a recession" thing was great but we haven't really improved the country we kept our head above water.

Bit early for that discussion though, its going to be interesting to see how long the virus lingers for.

The virus is here for as long as it takes to get a vaccine.. 12-18 months away.
In the meantime it’s all about risk mitigation and how strong we are as a community not how we are as a society.

[Yellow_Festiva]

Finally got my CRN from another Government agency.

Great, now I can link Centrelink to MyGov.

But I can't.... you see, my personal identifier is to tell them how many shares I have in what company.

I gave them the correct answer. They said info doesn't match.

Called shareholder company, my info was correct.

Tried again. So, that's how they have chosen for me to identify myself. Not licence number, passport number, ABN / TFN / mothers maiden name... no.

Shares that I bought 15 years ago that I never bothered about that I didn't even bothering remembering that they apparently know about.

So, because my info doesn't match I'm back to walk in or calling a number that doesn't work...

This will destroy so many families due to sheer stupidity and lack of urgent action.

[XR Martin]

Instead of stock piling toilet paper, maybe people should have got their financial and government services organized beforehand.

Amazing how short sighted people are.

[Pis-ton broke]

Originally Posted by Yellow_Festiva

Finally got my CRN from another Government agency..............

i was in centrelink years back, even in normal times, the operators/service peoples computers where totally inefficient.

its always been a cluster, and total head f.

i have always hated inefficient, don,t give poo , fat cat councils and bureaucracy.

i really hope some bottoms will get smashed in useless departments.

[Yellow_Festiva]

Originally Posted by Pis-ton broke

i was in centrelink years back, even in normal times, the operators/service peoples computers where totally inefficient.

its always been a cluster, and total head f.

i have always hated inefficient, don,t give poo , fat cat councils and bureaucracy.

i really hope some bottoms will get smashed in useless departments.

Well, this morning I was on the phone with Child Support to let them know of my change of income.

The person was really nice, and the phone was answered quite fast.

At the end she asked if there was anything else she could help me with?

I said, don't suppose you have my CRN on file anywhere?

Her reply.... now, wait for it....

Yes, but we can't give it to you due to privacy reasons.

Well, I had had enough... I told her that she already identified me and that it's my own number I'm requesting for goodness sake.

She had to go and get permission from her supervisor to give me my own CRN...

We are doomed....

[Pis-ton broke]

did you get it? don,t blame you for getting cranky.

my local council refused to give me my new neighbors contacts (house was leased out) as they had a dangerous tree limb overhanging on my side of the fence, "no,no we won,t help" it didn,t matter what i said.

months later i go back to council , i say the fence is broken, and i need the contact info, " ok, no worries, here you go" i get the info. what the?? so saftey issue = no help, but broken fence = help..
well they could have told that fence approach to start with. bloody stupid councils !

[roKWiz]

Originally Posted by Bluey-GT

Lets get this straight......
We are in this position because of certain "habits" for caging / handling / storing / selling and consuming specific types of animals under extremely stressful conditions for the animals involved over long periods. It disrupts their immunity and allows for certain types of viral infections to be transferred between animals that should never be in such close proximity for prolonged periods in the 1st place.. What should be acceptable and what isn't is very clear here....and its got nothing to do with being a litigation society. As confronting as this is, many countries are forced into positions that aren't culturally acceptable to them due to questionable / unregulated / unmonitored processes and habits cultured in other parts of the world.

.

This sounds a bit like live sheep exports from Australia.

[Yellow_Festiva]

Originally Posted by Pis-ton broke

did you get it? don,t blame you for getting cranky.

I got it, and it was useless. For some reason I can't link my Centrelink to MyGov because they asked me how many shares I own and in what company.

This is the question they are asking for me to prove my identity.

So, I answered, they said it's wrong.

Called share company to confirm - yep, I'm right.

But Centrelink says it's wrong.

So, I'm back to having to call them to sort their mistake out because they obviously have something different at their end.

What fool made a decision that quoting the numbers of shares you own and in which company is a reliable method of identification??

What if you have multiple shares??

Of all the bloody questions they could ask to identify myself it's your share holdings!!

[hayseed]

Originally Posted by Yellow_Festiva

I got it, and it was useless. For some reason I can't link my Centrelink to MyGov because they asked me how many shares I own and in what company.

This is the question they are asking for me to prove my identity.

So, I answered, they said it's wrong.

Called share company to confirm - yep, I'm right.

But Centrelink says it's wrong.

So, I'm back to having to call them to sort their mistake out because they obviously have something different at their end.

What fool made a decision that quoting the numbers of shares you own and in which company is a reliable method of identification??

What if you have multiple shares??

Of all the bloody questions they could ask to identify myself it's your share holdings!!

The Tin Foil hat Brigade will claim It's Big Brother collating all the data on you.........

[Pis-ton broke]

your not using the name yellow festiva are you, it won,t work.
but seriously, i don,t get it either, do you still own the shares? because i had share too, however i had sold them before centrelink, imo, centrelink get that theirs a problem, however, are not at this time prepared to spend the time to do some homework and fix it.

i had a superannuation company tell me one time that because my birth date wasn,t correct then i was allowed access. i lost $3500.00 once because i filled out two wrong numbers for my account, i was very tired and made the mistake, but the banks couldn,t do much. the money was given to a stranger and i could NEVER retrieve it. mistakes are made.

[zipping]

the solvency crisis.

It starts with the break of trust and rise of skepticism toward the profitability of each business as long as the coronavirus crisis continues. This skepticism makes financial conditions for every one of these companies worse, and accelerates businesses’ declines into insolvency as businesses will demand up front payments.

Every business will be looking at every other business and making a judgement on the likelihood they can pay.

Things can get really ugly really fast from here.

[Pis-ton broke]

la trobe financial investments just advised 4.9% return for 12 months investment, how secure is my money if i invest in this??

[Yellow_Festiva]

Originally Posted by Pis-ton broke

la trobe financial investments just advised 4.9% return for 12 months investment, how secure is my money if i invest in this??

It's not secure at all. They are not a bank, have no deposit guarantee.

Only use them if you are happy to possibly lose your entire investment.

Sent from my LG-M700 using Tapatalk

[Yellow_Festiva]

Originally Posted by Pis-ton broke

your not using the name yellow festiva are you, it won,t work.
but seriously, i don,t get it either, do you still own the shares? because i had share too, however i had sold them before centrelink, imo, centrelink get that theirs a problem, however, are not at this time prepared to spend the time to do some homework and fix it.

i had a superannuation company tell me one time that because my birth date wasn,t correct then i was allowed access. i lost $3500.00 once because i filled out two wrong numbers for my account, i was very tired and made the mistake, but the banks couldn,t do much. the money was given to a stranger and i could NEVER retrieve it. mistakes are made.

Still the same... Tried to link again. So, they have my CRN, all my personal details, they have confirmed my address etc. This is the last step in getting Centrelink integrated with MyGov:



I'm still at a total loss as to what my shares and qty of shares have to do with anything at all regarding MyGov / Centrelink.

Oh, shares value is a whole $240...