Cosmo Posted January 21, 2008 Report Share Posted January 21, 2008 It started out as a subprime issue in the US. Now, it is likely the US will enter a recession. Not only that, but the subprime fallout is also affecting credits worldwide - and this could possibly lead many countries into a recession as well. There is going to be major cutbacks (sackings) worldwide. Are you prepared for this? Link to comment Share on other sites More sharing options...
luckyphil247 Posted January 21, 2008 Report Share Posted January 21, 2008 There is going to be major cutbacks (sackings) worldwide.Are you prepared for this? Please stop teasing , I have been dreaming about this for a few years now ( redundancy package ) Link to comment Share on other sites More sharing options...
babyoiy Posted January 21, 2008 Report Share Posted January 21, 2008 Not quite ready and still in shock... and realized that those who suffer from the cuts are those who stay (less staffs - same work)... I already suffer from this... I will have to do something new, from what I heard, if I take this role I wont have time to do anything else.. then what Im doing now supposed to be transferred to someone in a team but I doubt if we got enough ppl? plus the rest are more senior than me so how they will take my job? Most likely I will have to take new more role with just a bit less work.. God Bless Me! Link to comment Share on other sites More sharing options...
zeusbheld Posted January 21, 2008 Report Share Posted January 21, 2008 There is going to be major cutbacks (sackings) worldwide.Are you prepared for this? Please stop teasing , I have been dreaming about this for a few years now ( redundancy package ) i had a 10 month severance package once. best job i ever had, by far. Link to comment Share on other sites More sharing options...
hbkbkk Posted January 21, 2008 Report Share Posted January 21, 2008 i lose about 20 percent of my wealth in last 5 months. I think the fallin us dollar is hurting all that is using it oversea. Link to comment Share on other sites More sharing options...
Miyavi Posted January 21, 2008 Report Share Posted January 21, 2008 that for i charge my clients euro for months already, its good to be your own boss. Link to comment Share on other sites More sharing options...
tech_noir Posted January 21, 2008 Report Share Posted January 21, 2008 FTSE 100 - 3,8% down SAS - 40 - 4.8% down Xetra Dax - 5.6% down Nikkei - 3,9 % down Sensex - 7,4 down Lots of european banks report loses (worse in Franse and Spain) and the Euro is going down too due fears of overheat if USD runs down even faster (pesimism about how efficiant the Bush administration movements would be). It goes worldwide. As for me - I think I'm cool about it, thanks to running a verry very small and agile company. In a storm fishing could be very good (or deadly of course, deppends on your luck,judgements and fast reaction), would be easy for me to get on top of a wave instead under it. I hope... At least I don't have any long-therm investments or even loans (hate to owe money). Link to comment Share on other sites More sharing options...
biachung Posted January 21, 2008 Report Share Posted January 21, 2008 If the US was spending as much on its poor, homeless and disillusioned people as they were on continuing their wars, maybe their economy would be more robust. For your information they are currently spending approximately $122.000 per minute on the war in Iraq. Link to comment Share on other sites More sharing options...
eagle Posted January 21, 2008 Report Share Posted January 21, 2008 The US is passing bills to through quick fix money at the US economy. With an election year things should be interesting............ Link to comment Share on other sites More sharing options...
Loburt Posted January 22, 2008 Report Share Posted January 22, 2008 What's most irritating about it is that the economy of a single nation has such a negative effect on all the rest. Yes, and the nation doesn't have to have an unusually large economy to cause a disastrous domino effect. When Thai leaders mismanaged the baht crisis in 1997, economies across Asia and as far away as Russia and Brazil were eventually damaged. Thai corruption and incompetence hurt hundreds of millions of people beyond the borders of Thailand. That's the way the world is constructed. Link to comment Share on other sites More sharing options...
Cosmo Posted January 22, 2008 Author Report Share Posted January 22, 2008 OMG, in a space of 2 days, the Australian share market has fallen by more than 10% (4% yesterday and already 6% today). Since its high in November, it has fallen nearly 25%!!!!!! :cry: :cry: :cry: Link to comment Share on other sites More sharing options...
Dave40 Posted January 22, 2008 Report Share Posted January 22, 2008 OMG, in a space of 2 days, the Australian share market has fallen by more than 10% (4% yesterday and already 6% today).Since its high in November, it has fallen nearly 25%!!!!!! :cry: :cry: :cry: That would be a "stockmarket" crash if it happened all in one day? Our Economy is doing better than the USA we do most of our trade with India and China, BHP and Rio Tinto The Pilbara Region will still do well!!! Link to comment Share on other sites More sharing options...
Cosmo Posted January 22, 2008 Author Report Share Posted January 22, 2008 OMG, in a space of 2 days, the Australian share market has fallen by more than 10% (4% yesterday and already 6% today).Since its high in November, it has fallen nearly 25%!!!!!! :cry: :cry: :cry: That would be a "stockmarket" crash if it happened all in one day? Our Economy is doing better than the USA we do most of our trade with India and China, BHP and Rio Tinto The Pilbara Region will still do well!!! I hear ya Dave...but there are strong rumours coming out of China that their banks are exposed to the US subprime debacle and they will have to write off billions - that was the trigger point for yesterday afternoon's fall and followed by today's fall. All eyes will be on New York for the next few days!! At the moment, the futures market is predicting the Dow will open 400 plus points in the red - that officially puts the US in a bear market as well. In any case, if the US government can not reverse the downward momentum in the next few weeks, our market and the world markets could correct another 5 to 10% before the end of the month. Link to comment Share on other sites More sharing options...
patrickbseattle Posted January 22, 2008 Report Share Posted January 22, 2008 Nice for some that have a out for a recession such as company mandated payouts(like in germany/france) but most of the world, US included do not have that luxury its 2 weeks notice generally and done. In regards to recession, well I am pretty sure the US is already in one from all the data coming out, which is why the government is talking about cutting interest rates even more, tax rebates to all Americans, and that sort of stuff. The subprime crisis is less of a deal then the credit crisis. Everyone knew Subprimers were at risk, and those rates are somewhat key'd in already. The real risks are lessening of cash flow between Large banks and investment houses(or countries). Everyday Banks all over the world exchange debts, lend money, exchange money and assets, when they start to worry about their own balances or some bank in the UK or China, thats when it gets very bad. Link to comment Share on other sites More sharing options...
afook06 Posted January 22, 2008 Report Share Posted January 22, 2008 definately, yes.........the Baht is lower now......... Link to comment Share on other sites More sharing options...
Dave40 Posted January 22, 2008 Report Share Posted January 22, 2008 All eyes will be on New York for the next few days!! At the moment, the futures market is predicting the Dow will open 400 plus points in the red - that officially puts the US in a bear market as well. In any case, if the US government can not reverse the downward momentum in the next few weeks, our market and the world markets could correct another 5 to 10% before the end of the month. All eyes will be on bernanke and the fed reserve later in the month to see how far they will drop interest rates GWB speech failed to put the market at ease!!! Link to comment Share on other sites More sharing options...
GoodKarma Posted January 22, 2008 Report Share Posted January 22, 2008 From a technical stance we are about 5-10 points on the Dow from full on bear. 500 points down expected on the Dow on the open today. But what goes down will eventually go back up. :wink: Link to comment Share on other sites More sharing options...
hbkbkk Posted January 22, 2008 Report Share Posted January 22, 2008 anyone think the baht might boes back to the 25 level before the asian crisis? Link to comment Share on other sites More sharing options...
Cosmo Posted January 22, 2008 Author Report Share Posted January 22, 2008 Well, the US Fed blinked!!!! Way before next Tuesday's meeting - obviously the gravity of the situation warrants an early decision on rates. Any way, they have just announced a 75 basis points reduction in the official interest rate. Is it too late? Link to comment Share on other sites More sharing options...
condotown Posted January 22, 2008 Report Share Posted January 22, 2008 This could be serious... When the US economy starts weakening, a quick war usually makes it roar back.... Is this the first time that the US economy is going to hell during wartime? This will be interesting to say the least... but mostly sad for a lot of people. Link to comment Share on other sites More sharing options...
Loburt Posted January 22, 2008 Report Share Posted January 22, 2008 anyone think the baht might boes back to the 25 level before the asian crisis? maybe. but if it does, then don't you think most things in thailand would be over priced and the country would be even less competitive than it is now? Link to comment Share on other sites More sharing options...
zeusbheld Posted January 22, 2008 Report Share Posted January 22, 2008 i suspect the alleged benefits of war on an economy are overrated. do let's keep in mind that America's "adventure" in Viet Nam most likely caused its recession in the 1970s. Link to comment Share on other sites More sharing options...
Alfy Posted January 22, 2008 Report Share Posted January 22, 2008 I can't wait for it.....It will be splendid. I look forward to anarchy...when our society becomes corrupt enough a cleansing is necessary and a collapse of world economy is a good start to the anarchy to come Link to comment Share on other sites More sharing options...
luckyphil247 Posted January 22, 2008 Report Share Posted January 22, 2008 As a subscriber to the money is the root of all evil philosophy, I can't wait either. I think its the love of money rather than money being the root of all evil . Its ok to want and have lots of it , but just dont love it Link to comment Share on other sites More sharing options...
Alfy Posted January 22, 2008 Report Share Posted January 22, 2008 I can't wait for it.....It will be splendid. I look forward to anarchy...when our society becomes corrupt enough a cleansing is necessary and a collapse of world economy is a good start to the anarchy to come alfy or adolfy? As a subscriber to the money is the root of all evil philosophy, I can't wait either. Bring the edifice crashing down about their unworthy heads. (A bit Richard Burton I know, but hilarious nonetheless.) Not just the love of money, but the way that society controls our society. What ever happened to being an honorable person, or to the qualities of survival when faced with great challenges. I embrace the thought of the downfall of society, of having to survive based on what your abilities are, not based on how much money you have. As far as Adolfy is concerned...Hitler wanted to rule everything tight fisted, not leave the world in a state of flux where any conclusion was possible. Link to comment Share on other sites More sharing options...
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