Tougher Times Ahead

[Dillz]

Who the f*ck is "Siobhain Ryan" and why should I listen to a word he says??

[hypnodoc]

Who the f*ck is "Siobhain Ryan" and why should I listen to a word he says??

Errrr SHE is a reporter from the Australian. Looking at what is happening in the US and the UK. I think that the press is being a bit conservative on this issue. march will be interesting when a Quadrillion dollars worth of derivatives falls due. You have to remember its a global banking system that has created all this artifical and hypothetical money and now it isn't there. The most radical fringe dwelling economists, who have been more right in the past 2 years than the supposed real ones are saying that by the end of March your going to go to the atm and it will say "Sorry *beep* Off". remember banks are private institutions and if they go arse up, so do we. Rudd may have promised to guarantee savings, but what will they do in a worst case scenario, fire up the printing presses and throw us into hyper inflation. We live in interesting times.

[ronburgundy]

On the plus side, we might be running around with multiples of millions of dollars in our hip pockets.

Thanks, Dr Mugabe!

[senna_T]

LOL, yeah, and buying a million dollar loaf of bread...

[Dillz]

Who the f*ck is "Siobhain Ryan" and why should I listen to a word he says??

Errrr SHE is a reporter from the Australian. Looking at what is happening in the US and the UK. I think that the press is being a bit conservative on this issue. march will be interesting when a Quadrillion dollars worth of derivatives falls due. You have to remember its a global banking system that has created all this artifical and hypothetical money and now it isn't there. The most radical fringe dwelling economists, who have been more right in the past 2 years than the supposed real ones are saying that by the end of March your going to go to the atm and it will say "Sorry *beep* Off". remember banks are private institutions and if they go arse up, so do we. Rudd may have promised to guarantee savings, but what will they do in a worst case scenario, fire up the printing presses and throw us into hyper inflation. We live in interesting times.

I rest my case...

[ZAP]

Being a business owner, I cannot disregard the facts about our economy and the views of other business owners.

Running a computer service busienss is fairly ressession proof, but I am starting to see a slowdown.

I think that most businesses are being good Scouts and being prepared. Shelving expansion plans, reducing the unneeded workforce and cost cutting are just the begining. While I do not plan to layoff any staff, it is an option that will be addressed and actioned if required.

Sacrifice the few to save the many is a better choice than loose the ship.

My dad who died last July was telling me for the past 2 years that this crash was coming, but he never saw his prediction come true. He would be emailing me articled about the Sub Prime market and the trouble the banks are in, well before the crash. Many people knew it was coming, just that most chose to paint a rosy picture and then act shocked when the crash happened.

The only advice I have for people is DO NOT BORROW MONEY unless you have no other choice. Try to pay off as much as you can from Mortgages and credit cards as this is the area that will be most affected.

The next 3 months is going to drive home the enormity of this situation. for anyone that thinks it is not real, keep you head buried and live in lala land as it IS happening and it WILL affect everyone.

[Dagabond]

Thats the biggest problem though, we only make it worse for ourselves, anyone you talk to at the moment is saying they are seeing the effects and are adjusting accordingly which in turn is inflating the problem rather than remedying the problem.

All because some nouch with their finger on the button has said this is the way its gunna be.

Print more friggin money you dicks.....

[ronburgundy]

I've told my wife she's singlehandedly trying to revive the economy with her spending at the moment!

We owe no debt (mortgage aside) as I pay my credit card out monthly, but she's giving it a fair old hiding I tells ya.

[trevs]

BHP Billiton cuts 6000 jobs world wide and about 3000 cuts to be made in Australia not good things are starting to look bad at the moment and for the first time in my working life im starting to wonder how hard its going to be to find another job at the end of my current contract

[JimmyXR6T04]

The only advice I have for people is DO NOT BORROW MONEY unless you have no other choice. Try to pay off as much as you can from Mortgages and credit cards as this is the area that will be most affected.

DO'H!! We've just bought a house... Although I'm sort of lucky that I already have a place to live, so down the track I can collect rent to help towards the repayments.

Time to knuckle down and save as much money as possible I think..