Financial Armageddon (148)
yeah the latter
we are lucky , we have raw materials here the rest of the world needs , and if they dont buy , we can produce things locally. Im tarting to look into investments, have a guy i work with really clued up stock etc , he is helping me manage my coin , and turn it into dollars , not something that'll happen overnight.
I think we as aussies are pretty safe.
I think we as aussies are pretty safe.
you haven't been listening to swan i hope
Arkayos: Well it looks like it took the combined efforts of The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the US Federal Reserve, and the Swiss National Bank to stave of what has been described as Financial Armageddon. No one is too sure how long they can keep it up.
So what are you doing, if anything, in case of a global melt-down? Paying off credit cards? Saving a little extra for the nest egg? Switching your super investments to cash or gold?
Or just hoping for the best, and partying on?
Im pretty sure it works the other way around… You want as much credit and no money in the bank. When the country financially collapses all credit gets whipped out including personal credit, while all savings get frozen and the interest used. You’re pretty farked if you have a home tho.So what are you doing, if anything, in case of a global melt-down? Paying off credit cards? Saving a little extra for the nest egg? Switching your super investments to cash or gold?
Or just hoping for the best, and partying on?
Lok_Simpson: we are lucky , we have raw materials here the rest of the world needs , and if they dont buy , we can produce things locally. Im tarting to look into investments, have a guy i work with really clued up stock etc , he is helping me manage my coin , and turn it into dollars , not something that'll happen overnight.
I think we as aussies are pretty safe.
I think we as aussies are pretty safe.
To some extent I agree, we are pretty safe. But world events do impact us...
Have you been tracking what has happened to your super?
Two weeks ago I switched all my super into cash, or cash equivalents. Even with todays bump, that probably saved me a loss of about 10%. There was bad news about China today, which will impact our markets tomorrow... It is all connected...
as will the reserve bank fiddling with the money supply next week, bound to impact on everybody every where right round the glob
Probably a stupid question but don't you sometimes think "How did we get into this mess??"
All the so called experts, banks lending to people who can't repay mortgages, crook bank employees gambling away zillions before it has even been noticed? all those powerful G7 - or was it G8
countries putting their heads together to help the Third World countries manage their debts 
Heeelloooo - we're screwed!!
All the so called experts, banks lending to people who can't repay mortgages, crook bank employees gambling away zillions before it has even been noticed? all those powerful G7 - or was it G8
countries putting their heads together to help the Third World countries manage their debts Heeelloooo - we're screwed!!
is the only possible outcome of a capitalist system, boom and bust, have another war and start all over again,
To think the world can constantly make profits is plain stupidity, what goes up must equally go down
To think the world can constantly make profits is plain stupidity, what goes up must equally go down
Knew we were in trouble when the USA, the Bastion of Capitalism, was having trouble paying its bills? 
Lok_Simpson: we are lucky , we have raw materials here the rest of the world needs , and if they dont buy , we can produce things locally. Im tarting to look into investments, have a guy i work with really clued up stock etc , he is helping me manage my coin , and turn it into dollars , not something that'll happen overnight.
I think we as aussies are pretty safe.
I think we as aussies are pretty safe.
They say we live in the lucky country sometimes I think not re- cost of living but when you hear of all the financial woes everywhere in the world we are one of the lucky countries. Our mining Industry is keeping us wealthy lets hope it stays that way.
seen it coming for years, certainly became apparent when Regan came out with his silly new world order in 1984
robplum: is the only possible outcome of a capitalist system, boom and bust, have another war and start all over again,
To think the world can constantly make profits is plain stupidity, what goes up must equally go down
Collectivism killed capitalism, socialism and communism. Collectivism isn’t the same as individualism, also know as capitalism. This is when the banks and your government need you to be poor because the combination of personal wealth exceeds the countries wealth, so they hand you out loans and regulate your income with interest rates. In theory, it sounds good but one hiccup on the financial marked and everybody dies.To think the world can constantly make profits is plain stupidity, what goes up must equally go down
curly28: They say we live in the lucky country sometimes I think not re- cost of living but when you hear of all the financial woes everywhere in the world we are one of the lucky countries. Our mining Industry is keeping us wealthy lets hope it stays that way.
it wont
something like %70 of the profits goes straight overseas into the hands of shareholders
curly28: They say we live in the lucky country sometimes I think not re- cost of living but when you hear of all the financial woes everywhere in the world we are one of the lucky countries. Our mining Industry is keeping us wealthy lets hope it stays that way.
If those countries buying our coal, aluminium, uranium etc. are strapped, they cancel their orders, we all fall like a pack of dominoes??
robplum: seen it coming for years, certainly became apparent when Regan came out with his silly new world order in 1984
I agree Rob, Regan was a proponent of trickle down ecconomics. (A very simple summary would be: make the rich people richer, and they will create more oportunities, and will spend money so everyone prospers... In reality the rich people become richer, and develop an obsession with keeping the money, rather than using it to create more oportunities, or spending it...)
Now Clinton (bless his slick little Democrat heart) was an keynesian. He believed that if you give everyone more money (not just rich people) they spend it... and everyone prospers.
At the end of his last term He had a budget surplus, and the US had experienced the best 6 years of growth in US history (other than the post wars years.)
Bush Jr. reverted back to the Regan doctrine... and Voila... le GFC... The housing bubble... and now a French Bank had six of the worlds federal bank bail them out so they wouldn't be anothe Lehmanns...
Newlife08: If those countries buying our coal, aluminium, uranium etc. are strapped, they cancel their orders, we all fall like a pack of dominoes??
China our the biggest customer... And they just anounced (this afternoon) that their manufacturing has slowed down, and they won't meet previous focasts.
There is an anouncement at 9:30am GMT about european manufacturing...
Then there is a meeting at 10:30am GMT by the bank of England about the finacial crissis...
I expect tomorrow will be an interesting day, one way or another...
Oh... I love this quote: “No more lipstick on the pig. Previous management had been deluding itself first and the market second." -Analyst Stephen Rawlinson at Whitman Howard lays in to Mouchel after its profit warning
Arkayos: China our the biggest customer... And they just anounced (this afternoon) that their manufacturing has slowed down, and they won't meet previous focasts.
There is an anouncement at 9:30am GMT about european manufacturing...
Then there is a meeting at 10:30am GMT by the bank of England about the finacial crissis...
I expect tomorrow will be an interesting day, one way or another...
Oh... I love this quote: “No more lipstick on the pig. Previous management had been deluding itself first and the market second." -Analyst Stephen Rawlinson at Whitman Howard lays in to Mouchel after its profit warning
There is an anouncement at 9:30am GMT about european manufacturing...
Then there is a meeting at 10:30am GMT by the bank of England about the finacial crissis...
I expect tomorrow will be an interesting day, one way or another...
Oh... I love this quote: “No more lipstick on the pig. Previous management had been deluding itself first and the market second." -Analyst Stephen Rawlinson at Whitman Howard lays in to Mouchel after its profit warning
That doesn't sound too good Arkayos - think it is time to
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So what are you doing, if anything, in case of a global melt-down? Paying off credit cards? Saving a little extra for the nest egg? Switching your super investments to cash or gold?
Or just hoping for the best, and partying on?