Global Financial Crisis (2 Viewers)

[zstar]

This global crisis is being engineered for the new Amero currency.

If you have assets in U.S dollars you better dump them ASAP.

 

[Trefoil]

This global crisis is being engineered for the new Amero currency.

If you have assets in U.S dollars you better dump them ASAP.

lol

Yeah it's a Zionist conspiracy amirite?

 

[stazi]

i should just stay out of the stock market.

 

[stazi]

this was once again insane. dow was starting to head up slightly, and likely to finish about 1.5% down with 8 mins to go. now it's 3% down. that's billions wiped off in less than a minute

edit 3.8% down

 

[chicky_pie]

OFFICIAL: Europe officially in recession

EUROPE officially went into recession overnight as world leaders gather in Washington to discuss the global financial crisis

http://www.news.com.au/business/story/0,27753,24655250-462,00.html

 

[Trefoil]

this was once again insane. dow was starting to head up slightly, and likely to finish about 1.5% down with 8 mins to go. now it's 3% down. that's billions wiped off in less than a minute

edit 3.8% down

Hmm. Our dollar is back up to 66.5 cents though, so that's good.

 

[moll.]

Hmm. Our dollar is back up to 66.5 cents though, so that's good.

Depends who you are.
If you work for an exporting company then no, it's not good.
If you're a greedy materialistic pig, the yes, it's great for you.
For the economy as a whole: Bad.
Exports won't recover as fast if the dollar keeps gettin' higher, meaning slower jobs growth and higher unemployment.

 

[blue_chameleon]

i should just stay out of the stock market.

Now's not the time to be speculating with weekly/monthly turnarounds.

http://au.youtube.com/watch?v=mzJmTCYmo9g&feature=related

Hahahaha "market sentiment". The Long Johns are good value, for old guys.

 

[Trefoil]

Depends who you are.
If you work for an exporting company then no, it's not good.
If you're a greedy materialistic pig, the yes, it's great for you.
For the economy as a whole: Bad.
Exports won't recover as fast if the dollar keeps gettin' higher, meaning slower jobs growth and higher unemployment.

Nah. A lower dollar is good up to a point (especially during a financial crisis), and that point is about 60 to 70 cents. Lower than that is not really good for anybody and only prevents economic recovery.

The Reserve Bank has intervened at least three times now to keep the dollar from slipping below 60 cents. Why is that? It's because they know more about the economy than you.

 

[withoutaface]

this was once again insane. dow was starting to head up slightly, and likely to finish about 1.5% down with 8 mins to go. now it's 3% down. that's billions wiped off in less than a minute

edit 3.8% down

lol and the first people they sack are those in the marketing department

 

[withoutaface]

Nah. A lower dollar is good up to a point (especially during a financial crisis), and that point is about 60 to 70 cents. Lower than that is not really good for anybody and only prevents economic recovery.

The Reserve Bank has intervened at least three times now to keep the dollar from slipping below 60 cents. Why is that? It's because they know more about the economy than you.

Yet they don't know more about the economy than the market itself. Floating curency exists for a reason.

 

[stazi]

lol and the first people they sack are those in the marketing department

i dont know of any marketing jobs lost. pwned.

compared to the insane number of banking jobs lost, which is just scary.

 

[Trefoil]

Yet they don't know more about the economy than the market itself. Floating curency exists for a reason.

Yeah sure. The floating currency is for the most part an idealised notion. Strict adherence to it is not intrinsically more valuable than making sure it doesn't get out of control. Anyway, typically the currency is left to float freely, except during periods of extreme pressure, such as now, when market agents are generally acting out of fear instead of anything approximating 'perfect knowledge'. There's nothing wrong with intervening to prop up the currency except for the fact that it offends your absolutist Libertarian sensibilities.

On the other hand, unnecessarily opening up an economy to all the rawest fluctuations of a market founded on the fear and bounded rationality of humans is plain stupidity, not freedom.

 

[Rafy]

I wish Bush would stop defending free market capitalism. He's doing more harm to the cause than good.

 

[stazi]

i shaved my bush tonight

 

[Trefoil]

Recession everywhere - except Australia:

http://www.businesscycle.com/news/press/1199/

 

[Silver Persian]

It is time to seize the means of production Comrade Gillard!

 

[blue_chameleon]

[quote = me]If Britain, US, Japan, China, India etc all fall into recession, and Australia manages to avoid it, what would this mean for Aus?

How would global recession and us avoiding one benefit us?[/quote]Finally found a few answers to this question I raised.

A global economic slowdown will ease upward pressure on commodity prices and inflation. It will also begin to smooth imbalances in global trade—and eventually housing markets.

So that means crude oil dropping (like we are seeing now). Cheaper international travel if oil remains low, with countries in recession looking for our dollars?

 

[Trefoil]

If Britain, US, Japan, China, India etc all fall into recession, and Australia manages to avoid it, what would this mean for Aus?

How would global recession and us avoiding one benefit us?

I don't know if China is included in that recession list. I think it is (i.e. China will post GDP growth but the other factors indicate it's in a recession, because ECRI uses a more specialised economic index than the simple 'two-quarter' definition).

So, to be honest, I'm not sure. Can you imagine what it would do for Australia's economic image, though?

 

[withoutaface]

i dont know of any marketing jobs lost. pwned.

compared to the insane number of banking jobs lost, which is just scary.

*shrug* that's just what I heard from mates who work with banks and financial institutions. P&G might be different because all the company is is marketing.