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Did we learn anything from the crash ?


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I learnt that my Superannuation is basically a joke, despite the fund being rated #5 of all Oz Super funds ..


Watching a doco tonite was even more sobering - they interviewed one of the first people to blow the whistle on the madness in Iceland, a Brit merchant banker, and asked him if things would change following the massive losses of the last few years, and he couldnt have been less optimistic about things going straight back to 'business as usual'.


Not sure why the Icelanders dont petition the UK government to deport the scumbags that took their money and ran, leaving them to foot the bill. Would be great to watch them getting off the plane in Reykjavik.


I guess it reinforces the need to enjoy it while it lasts - party on. :evil:

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cmon kd - the pollies are patting themselves on the back and telling us that its all over. Prepare for a new era of prosperity and world peace. :clown:


Seriously, nothing is more painful than being unemployed when the news is telling you how wonderful things are - had that experience after dot bomb, and I dont plan to revisit those sensations.

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The more experience I get in banking, the more I realize it is set up like an ant colony. It's simply too complex for any one person to understand, even at a small bank. The way banks are set up, you have hundreds of "desks" which are trading groups looking for opportunities. The ones that succeed in finding crumbs, you reward. The ones that fail, you fire. And every once in a while, someone comes across a huge nugget and everyone starts rushing there at the same time. There's no real thought or reason to it... just survival of the fittest.

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Did we learn anything? Highly unlikely, as we didn't learn anything from the previous 18 or so "crashes"




Year & Date Name


2006 Great Arabian Crash


2005-(till date) Iranian stock market crisis


October 2002 Stock market downturn of 2002


September 2001 post-9/11 crash


March 2000 Dot-com bubble crash


1998 Russian financial crisis


1997 1997 mini-crash


1992 Asian financial crisis of 1997


October 13, 1989 Black Wednesday


October 19, 1987 Friday the 13th mini-crash


October 29, 1929 Black Tuesday


October 28, 1929 Black Monday


October 24, 1929 Black Thursday


1929 Stock Market Crash of 1929


May 9, 1873 Der Krach


September 24 1869 Black Friday


May 10, 1837 Panic of 1837


1819 Panic of 1819



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