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World Recession


Cosmo
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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?

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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!

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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).

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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.

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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!!!

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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.

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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.

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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!!!

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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.

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