Page 7 of 9 FirstFirst ... 23456789 LastLast
Results 61 to 70 of 87

Thread: Global Financial Crisis

  1. #61
    TheDirtyDigger Guest

    Default

    Quote Originally Posted by STL View Post
    Oh god, I'm revising for my exams and I came across this:

    Deputy Governor of the Reserve Bank in June 1990:
    “The failure by lenders to maintain traditional lending standards, in the drive for market share added fuel to the fire. Many bankers did not tell borrowers “sorry, the security is not adequate, or the project is not bankable”.

    It's amazing sometimes. We never learn.
    Of course humans never learn. Check out the causes of the depression. And then the Tulip boom/bust.

  2. #62
    Join Date
    27th Jan 2008
    Location
    Innisfail
    Posts
    1,061

    Default

    Well, I feel like complete and utter shit this afternoon.

    A few weeks ago they laid off two blokes because there was just no work for them. Today they laid off two of the girls because they just can't afford to keep them.

    Should I be happy that I wasn't laid off? Probably. But truth is, I should have been one to go because i'm one of the newer people. The two girls today have been there longer than I. But what makes it more difficult is i'm considered a "long term investment". They intend for me to take over from the Admin/Company Secretary when he retires in a few years, and because of that I get to keep my job, even though I personally feel at this point in my training I really don't know jack shit compared to everyone else.

    And they blame it all on the "economic crisis" for these lay offs. I probably also am feeling a bit off about it all because I gave up a VERY stable job of 12 and a half years for this position and for all I know I could be out of a job by Christmas if things keep going down hill.

  3. #63
    Join Date
    9th Mar 2008
    Location
    Mannum, South Australia
    Posts
    1,201

    Default

    I work in the Vineyard/ Wine industry and it worries me because of the end product being a luxury item. I feel like im in similar scenario and its always int the back of my mind that if things turn to poo ill be on my way to centrelink. And on top of all that theres a water crisis! Best bet i reccon is to have some sort of a back up plan if worst comes to worst.

    Im sure there are/ will be plenty of people in this same scenario. Not much you can do i guess but try and "ride it out".
    -----------------------------------------------
    Collecting transformers- a good way to get poor
    Transformer count= too many

    Currently in search of:
    G1 goodness

  4. #64
    Join Date
    27th Jan 2008
    Location
    Innisfail
    Posts
    1,061

    Default

    Riding it out isn't so bad for me, I have enough in the bank to last me a while, I just wanted to use that money to buy a car.

    But i'm reluctant to do that now as I have no idea what the future's going to bring. Hell, one of the girl's they put off today had just signed the papers for a loan for her new car!

    ugh ... they were great people too. Really liked the pair of them. Seriously ******* hate this.

  5. #65
    Join Date
    28th Dec 2007
    Location
    Melbourne
    Posts
    8,150

    Default

    Quote Originally Posted by Burn View Post
    Riding it out isn't so bad for me, I have enough in the bank to last me a while, I just wanted to use that money to buy a car.

    But i'm reluctant to do that now as I have no idea what the future's going to bring. Hell, one of the girl's they put off today had just signed the papers for a loan for her new car!

    ugh ... they were great people too. Really liked the pair of them. Seriously ******* hate this.
    Hang in there, buddy. This is a tough time ahead and I'm under no illusions about how tough it's going to be either. I think you just have to hope for the best and really work hard now. It does seem unfair that when things are good you are pushed harder so that you help pushing profitability but when things go bad you still have to work harder to keep a job. Just focus on the positives and do the best you can each day.

    In my area, I know of people who have been laid off too and I feel very bad but the most you can be for them is a buddy. Its tough times. The local businesses in the areas are feeling it too. I can't begin to imagine what its like in Europe and the US.
    Collection Count (w/ a 12.42% upsize): 3053
    New Family Members: DA-15 Jetwing Prime, DOTM Leader Ironhide, Perfect Effect Reflector, DOTM Shockwave & Skyhammer, eHobby United 3-packs
    Current Desires: Japanese BW Optimal Optimus
    The Holy Grail: Ultmetal Optimus Prime


    Visit the Wonderful World of: The Iacon City Hub-Capital Collection

  6. #66
    Join Date
    31st Dec 2007
    Location
    Western Sydney
    Posts
    7,229

    Default

    I think the wine/alcohol industry should be okay (unless you work for a very expensive premium brand), as I was reading that data suggests that liquor sales do not decrease when there are times of financial problems.

    I understand where you are coming from Burn, a large portion of my friends work in the financial, banking and tax industries and most of them are quaking in their boots (well not the guys working at Macquarie Bank, but the others are) since they have not been in their jobs for more than 24 months yet.

    Thankfully there will always be a need for IT/Web people to fix the errors of the people who do not get sacked!
    Looking For: Wreckers Saga TPB Collection (with Requiem)

  7. #67
    Join Date
    28th Feb 2008
    Location
    Sydney
    Posts
    1,392

    Default

    All of this talk of financial problems has hitting the property market (i work part time in property) and there has been a decline in the work we are getting in comparison to last year.

    Last Friday was a bad day, with 5 people from our offices were made redundant, one of them was my best mate at work

    Just hope that somehow the financial and economic markets pick up, but honestly I dont see it happening soon. And they havnt really begun to start tackling the issue of climate change, which in the long term is even worse than any global market meltdown ever will be

    Sorry for my lecturing but im seeing this through my work and uni studies in geography

  8. #68
    TheDirtyDigger Guest

    Default

    Don't stress guys, there's always a good job out there for the person willing to put in a little extra effort....




  9. #69
    MV75's Avatar
    MV75 is offline Rank 6 - Dedicated Member
    Join Date
    27th Dec 2007
    Location
    Brisbane, QLD
    Posts
    2,879

    Default

    Quote Originally Posted by optimus1 View Post
    Just hope that somehow the financial and economic markets pick up, but honestly I dont see it happening soon. And they havnt really begun to start tackling the issue of climate change, which in the long term is even worse than any global market meltdown ever will be
    Yes they have. They're building the electric grid for a start.

    http://news.cnet.com/8301-17912_3-10073799-72.html
    http://www.betterplace.com/australia

    And they're apparently researching some sort of special algae/biofuel for airplanes.

    Then you have the total F-nuts that are greenpeace:

    http://www.theregister.co.uk/2008/10...greenpeace_no/

    The only thing that is standing in the way of us (Australia), owning the world of the future is ignorance and politicans. Of course I mean uranium.
    Code:
    O o 
      _
     / --------------------------------
    |      IMMA FIRIN MA LAZAR!!!
     \_--------------------------------

  10. #70
    Join Date
    27th Dec 2007
    Location
    Sydney
    Posts
    6,462

    Default

    Where do you find this stuff, Stuart?

    (don't get me wrong, I love this one!)


    Eagerly waiting for Masterpiece Meister

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •