do you think we are heading for a recession , depression or will maintain growth?
i think we are heading for a recession, hearing about the amount of job loss's going on atm in the mining and financial sector , how mates in the building house industry work has slowed to a few days per week. its not looking good.
i think the main reason oil prices have dropped has been the rise of the us dollar to what it was only several months ago. since most oil is traded on us dollars, petro dollars as far as i understand anyhow.. it only seems yesterday that the opec countries where being urge to increase production, yet they haven't reduced production to offset the price plunge from 150 to 44 dollars a barrel...
things looks worse though in america, with deflation going on atm the government are trying to put money into american hands to stimulate the spending, problem as far as i can understand is the average american is eyeballed to dept their equity has vanished from drop of house prices and so they have nothing to borrow on , which leads to the banks with the 700 billion dollar bailout , banks wont lend to each other because of the past dodgey deals of the sub prim market (which coincidently was what pushed house prices up and equity up of the american to borrow on) as well as the current overall situation being so unstable and going back to the negative equity of houses. this is helping to cause deflation.
basically banks are hoarding money atm, so there is no growth but contraction.
with the government forced to print more money to increase the flow of money and counterbalance the deflation, they are running the risk sometime down the track of hyperinflation, with the yanky dollar being the worlds currency if the world starts selling off the dollar again as it did from this previous year then the americans are in huge trouble.
whats your thoughts on the situation?
If you have a job start stockpiling as much windsurfing gear you can and maybe some camping and fishing gear and maybe a few sacks of rice.
If your gunna be jobless,broke and homeless you may as well live off the sea up north somewhere and sail everyday you can untill it all blows over.
That doesn't sound too depressing to me.
Since it all went pear shaped i've actually been more busy. It depends on what job/trade your in. Real estate and finance companies etc. will probably be doing it tough.
In the States the banks were giving people zero deposit homeloans to anyone whether they could afford it or not and when they couldn't afford it they could just go hand the keys in and walk away leaving the banks owning all these mortgages worth sh!t. It just shows how much the world economy is tied up in what the Seppo's are doing even in there own backyard.
I think the windsurfing, kitesurfing, surfing industry will be Ok as these are part of lifes necessities
Well well , I think things are pretty good at the moment, LOW interest rates, CHEAP petrol, and as for the building industry (Ive been in for 25 years) times like this get rid of all the d...heads and rubbush tradesmen ,of which there are toooooo many, sure there will be a few hard done but but most of us still go to the same job , get the same pay still live in the same house, hey life goes on if we all were despondant negative thinkers what a drag life would be. go forward, move ahead ,be happy its not too late!!!! whip it good!!
, no confidence and value decreases.
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yes, gold is the best way to hedge against inflation, its possible at least in American dollars that the price of gold will double by end of next year and possibly double the following year again.... worse case situation.
its interesting to note that during the last great depression that the only stock on the stock market that did exceptionally well was the gold stock....
there was an article in the state rag regarding the perth mint not able to supply the demand of gold coins.
most people know about Zimbabwe and its rampant inflation, its not the only country , many others have had the same problem.. france back in the 17th century.. in fact it was one factors that caused the revolution .
the former Yugoslav had the same problem back in the 90's during its ethnic cleansing.
Germany is another country after world war one, it suffered from hyperinflation. wars are not cheap - they had loads of dept and had to pay off those dept, simple approach was to just print lots of money , the money eventually came back into the country and had devalued the currency, it came to the point where people where burning their money because it was cheaper than to buy coal for heating and cooking. to go back to gold, there is a German gold coin from the 17 century that could buy you a meal on the town today ,as it did back in the 17th century.
it aint all about making money and being greedy - speculating on stuff like gold or whatever.....that is what has caused this mess that the planet is today
A little too in depth, ....... For me its time to get back out on the water, and enjoy ,,,, after all most of you would agree that when your on the water NOTHING else gets in your head!!! go relax!!!!!!!
hey i agree with cassa it doesn't mater what industry people who had no right bulging of others just to make up numbers will always suffer first and there are always no hope-rs at anything but these people think that TV is a sport so it wont affect anybody on this site because everybody is motivated my theory because they get in the water things will get tough while peple panic my work has slowed up others got he sack im a builder change company its tough i had to work all weekend in a brothel at petersham lucky i only built them a sunroof lol
Dont hold back DL,I agree you over expose yourself (living like a king)one day it will alway's bite ya!
mac
PS DL,enjoyed your stir on the other post! kite v windsurf.
mac
OK the media talks about the doom and gloom,but on the up side,these are the times to pick up a bargain if you can ride the storm out!
Who works in retail (please give no names)I would be interested to hear how your sales are over the past four months? and you down 10/15/20/25/30%?
mac
I live in the western suburbs of Perth and I see V8 Landys, 4wd Beemers, Volvos and Porche Cayennes towing the BRATS to the $17000 a year schools when there is a perfectly good public transport system that only costs a gold coin.
What recession ???
(having a backup when kitesurfing in offshore winds would be assuring )
, or for that matter the jet ski company was probably producing beyond their means..... btw i dislike jetski's
This bad:
"Merrill Lynch & Co Chief Executive John Thain has suggested to directors that he get a 2008 bonus of as much as $10 million...http://news.yahoo.com/s/nm/20081208/bs_nm/us_merrill_bonus
The sun is still going to come up tomorrow. And if it doesn't, I'm going to sleep in.
The global finacial meltdown has been an excuse for the seppo govt to by the whole finacial sector and regain control from the the big multi national companies that threatened to take over the world. Power to the people even if it hurts the hip pocket a bit at first.
I take my hat of to the french and the greeks who really get out there and protest when thier angry at the govt.
My biggest problem is that I am having a week off to relax and get ready for xmas and the weather is crap!! cant get out on the water... oooh well have to make a few hundred more stubbies of home brew (30cents each) and run the still to make a few dozen more bottles of spirit (aprox $10 each) .... Hey maybe thats why I dont care what the world is saying about global ressesion, I save thousand on home brew ..... THE MORE YOU DRINK THE MORE YOU SAVE!!!!!!!........ want to know how contact me its a great hobbie mmmm much better subject to discusss......... what were we talking about before ?
You will know that we are in real trouble if they start issuing 200 millon dollar bank notes,like they are in Zimbabwe,their inflation rate is 157millon %, so a 200 mil note might buy you some bread.
Don't feel sorry for them because it was one of Africa's stronger economies until they started kicking out/assulting and killing the white Zimbabwens they all packed up and left the country,Mugarbage couldn't run an ant farm.
