Yeah it’s happening across the board. It certainly isn’t just...

Yeah it’s happening across the board. It certainly isn’t just SI6. Horrible cost of living pressures and more and more people living pay check to paycheck and forced to go into more credit card debt to get by, which is tough in a rising interest rate environment. More people are keen to trade short term in order to get a quick return but it’s not easy to pick at the moment. Less long term holders means less chance of sustained uptrends in share prices and major re rates in line with drilling intersections and discoveries. Eventually it will come but we need major institutions to enter for that to happen. Most retail are playing the trading game right now from my vantage point.
Unfortunately from my point of view there are plenty more interest rate rises to come. I said 10% minimum a couple of years ago and I still stick to that point. The government policies are just kicking the can down the road and they inevitably lead to higher inflation and spending across the economy. The covid cash splash, higher immigration and allowing rich migrants to enter the country, combined with increased social spending, in qld they have upped the first home buyers grant, the commonwealth is now flaunting the idea of accessing super for property. All this will do is further inflate the economy leading to more rate rises. The only solution is to tackle the problems at the core but no government or their business backed institutions will allow this. You only have to listen to the governors comments, now apparently it’s home grown inflation. They will keep throwing each Governor under the bus, even though it’s the governments own doing which is creating the current environment. Everyone is replaceable. The people need a scapegoat and will continue to get one. The media are scum too! It astounds me how many people keep believing the government run mainstream media. We must have heard “this will be the last rate rise” each month for the past 2 years, yet they keep coming. People keep getting taken hook line and sinker and pumping all their hard earned into over priced homes in a rising rate environment. It’s going to be tough to watch from afar in the next few years. Plenty of people will get ruined. But I am not surprised after the lies of covid which people fell for…