Corona virus
- Thread starter Superdad
- Start date
I seriously doubt that. They are an easy target - but not this time. They have taken about a $2B hit each so far and more to come. Wait till the loans for small business and housing defaults start rolling in. I'm selling my bank shares as fast as I can, even though they have taken a hit already.
Australian banks will struggle to recover pre-COVID earnings: S&P
Australian banks are unlikely to see a return to pre-COVID-era earnings, with NAB the best placed to absorb the hit.
Unless you know something I and the stock market doesn't know.
discomatt
Well-Known Member
Think long term not short term, for every loan that defaults , of a large amount the bank will have a 3rd party cover in some form of insurance and or sale of assets and many more that have been on hold all the while letting the interest add up extending the loan by years in many cases.
Yep all businesses are loosing now, wait another few years and see what happens, add the profits over the last 5-7 years then take away what they have lost now, haven't done it myself but willing to make a fair bet it is a drop in the ocean
I am by no means any kind of expert and could be way off the mark but with all the changes happening to every sector I would be very surprised if they didn't come out on top
Yep all businesses are loosing now, wait another few years and see what happens, add the profits over the last 5-7 years then take away what they have lost now, haven't done it myself but willing to make a fair bet it is a drop in the ocean
I am by no means any kind of expert and could be way off the mark but with all the changes happening to every sector I would be very surprised if they didn't come out on top
Banks are not allowed to profit from loan defaults in Australia. Period.
It's illegal. Any amount above the default amount or insurance goes back to the creditor or person with the loan.
You said it.
discomatt
Well-Known Member
At no point did I state they would profit from dud loans but they will minimize losses.
Once again come back in 5 years , time will tell and I would bet profits are still well and truly in the millions millions and shares are well above todays prices
discomatt
Well-Known Member
Mate you should be a politician or journalist, don't take them out of context.
The first comment was in relation to the massive number of loans that have been deferred" , only the repayments , the interest continues to add up and prolong the loan, its called compounding interest, you should look it up.
2nd point,they will come out on top, maybe not this week , this month or this year, remember the long term comment?
But please don't take any notice of my opinion, I really have no clue but this is just my opinion after watching how banks and big business operates.
For all I know it is a deliberate manipulation of figures so they cause a minor price slump which in turn gets cautious investors to sell up which drives the shares lower then the rich come in and snap up bargain price shares leaving us poor bastards with sweet stuff all again.
Maybe check with the $200 an hour financial advisor
The first comment was in relation to the massive number of loans that have been deferred" , only the repayments , the interest continues to add up and prolong the loan, its called compounding interest, you should look it up.
2nd point,they will come out on top, maybe not this week , this month or this year, remember the long term comment?
But please don't take any notice of my opinion, I really have no clue but this is just my opinion after watching how banks and big business operates.
For all I know it is a deliberate manipulation of figures so they cause a minor price slump which in turn gets cautious investors to sell up which drives the shares lower then the rich come in and snap up bargain price shares leaving us poor bastards with sweet stuff all again.
Maybe check with the $200 an hour financial advisor
rogerazz
4x4 Earth Contributer
Watched it. Did some research on the bloke, he is a bloke who published about 100 books over many years with lots of weird opinions. Very Cynical bloke , puts lots of people down, threatens others, and reckons he knows everything. Has been banned in a lot of places, U tube has pulled many of his videos, makes lots of claims with no facts provided to prove them and makes a living out of it all.
Has a few conspiracy theories that suit people who like conspiracy theories.
Total nut job.
.
rogerazz
4x4 Earth Contributer
I don't know how bad or not so bad covid19 is. I only know from what I read or am told by others, including people on here.
Right now I am open minded, however I am being very careful so as not to contract the virus.
I don't know how it will affect me or my family and am sure as time goes by I will have a better understanding of what it's all about.
I have seen sickness and death of old people from covid19 . My sister in law is in a old age retirement home and I have seen how it affects her and other in these homes.
I have seen death of others older and younger then me that I personally know. Three funerals this week.
I am also concerned about my immediate family, around twenty five of them aged from forty down to nine.
Why am I concerned about younger people?
This video concerns me, I know it's a sixty minute show, however one bloke in it does mention well known politicians ( which we all know of) as his associates, so that seems to authenticate the story.
So I reckon I will tread a little carefully when I go back out there until this thing is a little more sorted.
Maybe everyone should tread a little carefully as well.
Keep safe.
Right now I am open minded, however I am being very careful so as not to contract the virus.
I don't know how it will affect me or my family and am sure as time goes by I will have a better understanding of what it's all about.
I have seen sickness and death of old people from covid19 . My sister in law is in a old age retirement home and I have seen how it affects her and other in these homes.
I have seen death of others older and younger then me that I personally know. Three funerals this week.
I am also concerned about my immediate family, around twenty five of them aged from forty down to nine.
Why am I concerned about younger people?
This video concerns me, I know it's a sixty minute show, however one bloke in it does mention well known politicians ( which we all know of) as his associates, so that seems to authenticate the story.
So I reckon I will tread a little carefully when I go back out there until this thing is a little more sorted.
Maybe everyone should tread a little carefully as well.
Keep safe.
Swaggie
Moderator
First needle-free COVID vaccine to begin human trials in Australia
The new vaccine would be administered through the skin via a jet of air, eliminating the use of needles and making it pain-free.
7news.com.au
peterfermtech
Well-Known Member
Funny how people are not interested in hearing the dangers. I posted a similar article about 2 weeks ago which hardly elicited any response at all whilst nut case faux doctors claiming "nothing to worry about" get all the attention. The way I look at it is if it's bad enough to kill an elderly person then it is probably going to seriously injure a younger person.
Swaggie
Moderator
Coronavirus digest: Belgium to scrap face mask rules – DW – 09/24/2020
The Belgian prime minister has announced that wearing masks will not be mandatory throughout the country starting next month.
m.dw.com
rogerazz
4x4 Earth Contributer
Coronavirus digest: Belgium to scrap face mask rules – DW – 09/24/2020
The Belgian prime minister has announced that wearing masks will not be mandatory throughout the country starting next month.
I agree with the Belgium Prime Minister. Compared to us, things are so bad he obviously has given up.
.The population might as well just go out there and have some fun before times up.
Belgium
Population 12 Million, Cases 107,000 , Recovered 19,836, Deaths 9,959.
Australia
Population 25 Million, Cases 26,983, Recovered 24,324, Deaths 861.
Last edited:
Take any non believer or those that doubt this virus is real and tell them that they are going to be locked in a room with 12 confirmed infected people for the day, no masks and no distancing. Do you really think that even though this is a world hoax that any 1 of these non believers will want to spend even 1 minute in the room. According to them there is no world or health problem, put their belief to the test. Let them show us how we have been tricked.
Any takers to be put in a room?
Didn't think so.
Any takers to be put in a room?
Didn't think so.
Swaggie
Moderator
I don’t think anyone here believes this Virus is a hoax and I’m pretty sure they know this Virus could potentially be deadly if you’re aged between 60-100 years of age with other issues.
If your fit and healthy 10 would be ok .1 might need serious help.
Over 99% recover.
I believe people believe the response to this Virus is Political and a Hoax and way over the top...
Maybe someone can explain this to me, why is it ok to shut down a complete economy heading for a near depression for under a 1000 Covid deaths Australia wide and sentence people to home detention but allow and it’s looking like these figures will come in at 10-15k suicides because of these actions.....
Plus the loss of jobs and businesses for starters.
It's like the year 2000 bug in the bank computers. If you do the right thing and take the precautions then nothing happens. Then everyone says why did we take the precautions? Just like we don't get advice from forum people to design and build spaceships, we get experts to do it and they still blow up sometimes. You have to get expert advice on how to deal with public health emergencies from the experts in charge, not supposed experts that are playing from the cheap seats in the grandstand and not involved in the decision process. Youtube is full of those guys. Everyone looking in can criticize all they like but in reality, most of those playing from the grandstand wouldn't know if their arse was on fire. Everyone seems to think they know better, and everything is a sinister conspiracy. I'm glad I don't live in that reality, it's exhausting just reading through the rubbish sometimes. The Victorian government does have to answer for some serious shortcomings. Hell, the Health Union wants the Labor Health minister sacked. That's got to hold some weight and it's not a conspiracy.
When you get a tight arse Liberal government spending shit tonnes of money, you can bet you've got a damn good reason because that just never happens. It's against their religion.
When you get a tight arse Liberal government spending shit tonnes of money, you can bet you've got a damn good reason because that just never happens. It's against their religion.
discomatt
Well-Known Member
Haven't seen a single post in this whole thread where anyone has stated the whole thing is a hoax, that would be a minute part of the whole population that gets all the sensationalist news.
I think it is actions of governments, how the data gets portrayed and misrepresented is the issue most have.
discomatt
Well-Known Member
Good video, have watched it twice and the extra ones plus some other of my own research.
It appears to me to be less of an issue than sepsis which is caused by bacterial and virus infection , it kills about 8000 in Australia alone millions world wide many of those deaths are caused by influenza in a bad season. None of which shut down whole societies and invoke changes to laws that remove freedoms
Once again cherry picked info supplied by media to promote fear and what ever agenda is being pushed, people die from all kinds of illness all the time. It seems that many have forgotten that fact
