Australian Politics Forum - Share market crash this morning.

MeisterEckhart

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Re: Share market crash this morning.
Reply #375 - Jan 28^th, 2026 at 8:51am

Bobby. wrote on Jan 28^th, 2026 at 7:28am:

https://edition.cnn.com/business

Dow down 0.83%

Our dollars are worth more today:

AUD 1.00 = 0.7 USD wow

USD/AUD = 0.70046729

https://themoneyconverter.com/AUD/USD

And without even getting up to take a morning piss!!

The AUD isn't up... The USD is down.

The DXY is down to 96.41 from its 2025 high of 110.

Multiply the DXY by the exchange rate of 0.7012 to get 67.6... It's up but not yet out of the normal range of 66 to 68

Trump said he'd lower the world value of the USD... and he did!

Who'da thunk it... Stupid policies (e.g. random on-again/off-again tariffs, threatening Europe, destabilising NATO, insulting allies) = dollar crash as the world dumps US dollars!!

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Bobby. Gold Member Offline Australian Politics Posts: 117961 Melbourne Gender:	Re: Share market crash this morning. Reply #376 - Feb 2^nd, 2026 at 8:08pm silver down 53% from high. gold down 21 % from high. kitco.com/charts/gold
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freediver Gold Member Offline www.ozpolitic.com Posts: 52822 At my desk.	Re: Share market crash this morning. Reply #377 - Feb 3^rd, 2026 at 7:51am Bitcoin has been dropping for months, which may be the start of a broader downswing, as people tend to dump their riskier investments first.
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Bobby. Gold Member Offline Australian Politics Posts: 117961 Melbourne Gender:	Re: Share market crash this morning. Reply #378 - Feb 3^rd, 2026 at 8:29am freediver wrote on Feb 3^rd, 2026 at 7:51am: Bitcoin has been dropping for months, which may be the start of a broader downswing, as people tend to dump their riskier investments first. Bitcoin is down 58% from its high. https://au.finance.yahoo.com/quote/BTC-USD/ was $US 125K now $US 79K
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Bobby. Gold Member Offline Australian Politics Posts: 117961 Melbourne Gender:	Re: Share market crash this morning. Reply #379 - Feb 3^rd, 2026 at 2:47pm Did rates go up today? - YES - they went up 25 basis points today - mortgage payments have gone up. https://www.abc.net.au/news/2026-02-03/reserve-bank-lifts-interest-rates-februar... 1.00 AUD = 0.70054536 USD https://www.xe.com/en-au/currencyconverter/convert/?Amount=1&From=AUD&To=USD
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Bobby. Gold Member Offline Australian Politics Posts: 117961 Melbourne Gender:	Re: Share market crash this morning. Reply #380 - Feb 6^th, 2026 at 4:35am Down this morning: https://edition.cnn.com/business DOW 49,010.30 -0.99% S&P 500 6,815.00 -0.98% NASDAQ 22,645.07 -1.13%
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freediver Gold Member Offline www.ozpolitic.com Posts: 52822 At my desk.	Re: Share market crash this morning. Reply #381 - Feb 6^th, 2026 at 5:22am Bobby, do you follow this because you are investing, or just looking for warning of the end times?
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Bobby. Gold Member Offline Australian Politics Posts: 117961 Melbourne Gender:	Re: Share market crash this morning. Reply #382 - Feb 6^th, 2026 at 5:22am freediver wrote on Feb 6^th, 2026 at 5:22am: Bobby, do you follow this because you are investing, or just looking for warning of the end times? I always look for signs of the End Times.
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freediver Gold Member Offline www.ozpolitic.com Posts: 52822 At my desk.	Re: Share market crash this morning. Reply #383 - Feb 6^th, 2026 at 5:39am Are you seeing any in the stock market?
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Bobby. Gold Member Offline Australian Politics Posts: 117961 Melbourne Gender:	Re: Share market crash this morning. Reply #384 - Feb 6^th, 2026 at 5:48am freediver wrote on Feb 6^th, 2026 at 5:39am: Are you seeing any in the stock market? Yes - it's very unstable right now. A war in the Middle East with Iran might collapse it.
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Bobby.

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Re: Share market crash this morning.
Reply #385 - Feb 6^th, 2026 at 7:06am

Looks like a black Friday today:

https://www.abc.net.au/news/2026-02-06/asx-markets-business-news-friday-6-februa...

Market snapshot

By Adelaide Miller

ASX Futures: -0.8% at 8,776 points
Australian dollar: -0.5 at 69.62 US cents
S&P 500: -1.03% to 6,812 points
Nasdaq: -1.2% to 24,602 points
Dow Jones: -1.0% to 49,013 points
FTSE: -0.9% to 10,309 points
EuroStoxx: -1.1% to 612 points
Spot gold: -2.7% to $US4,830/ounce
Brent crude: -2.9% to $US67.44/barrel
Iron ore: -1.8% to $US100.65/tonne
Bitcoin: -10% to $US65,510

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Bobby. Gold Member Offline Australian Politics Posts: 117961 Melbourne Gender:	Re: Share market crash this morning. Reply #386 - Feb 6^th, 2026 at 11:30am ASX has crashed: https://www.marketindex.com.au/asx200 S&P/ASX 200 8,724.1 165.1 -1.86% 1.00 AUD = 0.69159383 USD https://edition.cnn.com/business DOW 48,908.72 -1.20% S&P 500 6,798.40 -1.23% NASDAQ 22,540.59 - 1.59%
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thegreatdivide

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Re: Share market crash this morning.
Reply #387 - Feb 6^th, 2026 at 1:28pm

Bobby. wrote on Feb 6^th, 2026 at 11:30am:

ASX has crashed:

https://www.marketindex.com.au/asx200

S&P/ASX 200 8,724.1 165.1 -1.86%

1.00 AUD = 0.69159383 USD

https://edition.cnn.com/business

DOW 48,908.72 -1.20%
S&P 500 6,798.40 -1.23%
NASDAQ 22,540.59 - 1.59%

You've been warned:

https://www.ozpolitic.com/forum/YaBB.pl?num=1645944963/1395#1409

(prof. Steve Keen)

3 simultaneous economic shifts that will trigger recession

The AI investment boom follows a classic Schumpeterian cycle: Massive overproduction during the boom, bankruptcies during the slump, then technology gets integrated cheaply across the economy. We're entering the bankruptcy phase now with companies like OpenAI potentially folding.

Robotics will eliminate the jobs capitalism depends on: New robots have the manual dexterity to replace factory workers and AI can handle clerical work. When it's cheaper to buy a robot than pay wages, the working class jobs that create consumer demand disappear.

Tech bros will be forced to embrace government: They're building a world that can't function without universal basic income. They'll eliminate workers, lose their consumers, and destroy their own profit model unless government creates and distributes money.

We face two sliding door futures: Either universal high income where we all benefit from robotic productivity, or a Hunger Games scenario with a wealthy elite and a suppressed majority barely surviving.

This isn't another 2008. The debt dynamics are different. But the economic restructuring will be just as profound.

https://www.youtube.com/watch?v=IPcVosG8Mng

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freediver

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Re: Share market crash this morning.
Reply #388 - Feb 6^th, 2026 at 2:03pm

Quote:

Robotics will eliminate the jobs capitalism depends on: New robots have the manual dexterity to replace factory workers

You don't need robots for that. We have been pulling people out of the mines and factories for generations, with simple things like design improvements and scaling up. Capitalism does not depend on them any more than it depends on the various other things people have previously claimed it depends on - like oil, or 99% of the population working on farms, or checkout chicks.

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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Bobby. Gold Member Offline Australian Politics Posts: 117961 Melbourne Gender:	Re: Share market crash this morning. Reply #389 - Feb 6^th, 2026 at 2:08pm https://www.marketindex.com.au/asx200 ASX Down -2.07% - it's a crash - we're doomed - SELL
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