Global Financial Crisis

[autobreadticon]

The housing bubble burst is just an extension of the IT bubble burst, anywho Americans elect Bush mainly because of he is an evangelical Christian which shows religion has nothing to do with how a country should be run. IMO Democrats have a lack of foresight in times of crisis, this upcoming election is a popularity contest, none of the candidates and running mates have any idea how to overcome this problem. ALL DOOM MATE

[STL]

me too! been saving for my marriage in Singapore and now for every A$1..it's just S$1.06. so sad!!! wished it was other way round

So you plan on getting married in Singapore? Ouch. Maybe you can persuade the family to come to Australia?

I guess I do worry a bit. I've always wanted to ensure myself as being financiallly secure in the long term even though the short term might not be too flash for me and I'm just worried it all might go down the drain.

While I do agree that this is all part of the cycle, the medium 3-4 years could be hell. And sure, we'll all survive it but just what state will we come out of it? The Australian Banks are fine, yes, but if there is a global downturn it will affect the level of employment across the board. With the problems arising in Europe too, this is just about to get worse. They're in damage control over there and the German chancellor's actions has me wondering about how the EU will hold up in tough economic times where each country needs to start looking after itself.

All this translates to over here a lot of bad times. We are pretty dependent on the world economy for our prosperity. Maybe not Europe as much but certainly there are flow on effects.

The other thing I fear about this is the emergence of a new powerhouse when the dust clears.

[roller]

ive spent the last 3 years to try and get a singaporean bride so i could get the passport, anyone have any single sisters?


What are you 20-40 yr olds worrying about? !

Just do as i do, tax haven bank account!!!

Invest in things that people will always need, im not going to tell you, you might buy more shares then me.

Gambiling only works if your good at it.


Pick up every 5 cent piece you see lying on the street

Reuse the same bowl twice

make friends with Macquarie bank etc

[jaydisc]

IMO Democrats have a lack of foresight in times of crisis, this upcoming election is a popularity contest, none of the candidates and running mates have any idea how to overcome this problem. ALL DOOM MATE

Less Fox and less networks Bread. Stick to ABC, SBS, or at the very least, just avoid the MSM.

Tougher regulation could have avoided much of this. Regulation McCain has abolished and Obama (and Democrats) have supported.

[llamatron]

A little worried, yes. Slightly regretting my house purchase, but it was that or live on the streets. Good thing I locked my interest rate in at 8.29%. If I hold onto the place for long enough prices should bounce back as well. In the end probably still better off than renting.

I don't see there being any job problems for me or wifey thankfully. The only big concern at the moment is our bloody dollar falling like crazy.

[autobreadticon]

I never watch Fox,i even wanted John Kerry to win !!!, i strongly dislike Republicans.

[iceburn]

STL, there might be a small gathering here but depends on how i go in Singapore and also Malaysia. it's in Jan 2010...so still need more than 10 fingers to countdown

[MV75]

The other thing I fear about this is the emergence of a new powerhouse when the dust clears.

It's long overdue. The USA is just a modern Rome. And speaking of which, just look back on all the past histories of the great civilisations. They all had a certain time frame.

China will be the focus soon. They'll become #1 in the next couple of decades.

[STL]

Less Fox and less networks Bread. Stick to ABC, SBS, or at the very least, just avoid the MSM.

Tougher regulation could have avoided much of this. Regulation McCain has abolished and Obama (and Democrats) have supported.

What amazes me though is that as much as this has to do with the irresponsibility of prudential regulations in the US, the government itself was to blame. There was a lot of pressure from the government on lenders to make out these subprime mortgages to help give Americans who could not otherwise afford a loan to get credit. So they were in fact pressured by the US government to an extent to try and keep the "good" times rolling. This is a problem that's not just greed from the financial institutions but the self-serving interests of politicians as well.

And while it did bring them some short term relief in the form of happier economic times, it's come back to bite them right up the rear. But I guess the world for a long time has been not just about companies but governments as well.

[MV75]

That and they thought that they'd be in and out of Iraq in 6 months.

Nice legacy the Bush name leaves behind.

I hope they never vote a Bush or a Clinton in ever again. They only have themselves to blame, they kept voting those guys in again and again, no matter how much they stuffed up.

Also business has a blame in it too, they turned the whole place into a consumer whore society.