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The Forum > General Discussion > GFC still here

GFC still here

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Last night while we slept shares on Wall Street fell by 5% and 4 and a quarter in the other measure.
On buses or trains this morning on the way to work.
Or like me about to have that second cup of coffee and go into the garden we feel ok.
Our economy is not in trouble not yet.
By this time tomorrow?
If shares fall ten percent overnight.
If China, unable to sell its goods, if wanting to retrieve its loans, closes the door?
I would not this morning want to be owning a personal debt of ten thousand dollars.
But some hold personal debt of half a million!
And the only income? a job that may not be there tomorrow.
Posted by Belly, Friday, 23 September 2011 6:08:01 AM
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http://www.smh.com.au/business/buckle-up-for-apocalypse-dow-20110924-1kqsq.html
This link is too horrible to think of, but we must.
It could of been one from any news paper in the world, it is from one of ours.
Sky news, an unlikely place to find truth, talks of the Australian Dollar falling twenty cents overnight.
We know the world monetary fund say this country can come out ok.
But world wide recession?
Said to be unavoidable?
Who buys then the products of our trading nations,China, India, China, quite Bizarrely in part buy from us for internal growth.
But what if its investments and loans are not safe?
Australians we are told, are banking more , paying off debt, all good and wise.
But in doing contributing to stalled spending and growth.
What of those who are still spending as we all did until 5 years ago?
Some owe for a house two cars the white goods and furniture and credit cards,those cards are even used to pay those loans.
One rolling stone may gather no moss but we are about to see it gather companions.
Posted by Belly, Sunday, 25 September 2011 1:35:26 PM
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I have enjoyed the chance to talk about my fears and concerns in this area.
Perhaps that is the reason we come here.
I have not enjoyed the growing concerns I and the community have.
Twenty threads could be started from this world wide concern.
One may be titled its ok go back to sleep.
Another do you think we can extend our loan to buy a new car.
Or more somber what comes after Capitalism.
My first post in that thread would say oblivion!only a system based on self interest or compulsion can work.
My super fund is not very big, not one years past annual income.
So last? a thread about shares or bank seems a flyer.
But my first post in that?
In the right low fees fund, not one that sends your boss on annual free trips? stay with shares the ride will be interesting.
Posted by Belly, Monday, 26 September 2011 1:23:27 PM
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Billions of dollars world wide returned to share owners yesterday.
No not the losses of the last week.
Or the last few months.
Not the losses from the 2008 frightening falls.
Not great new insurance that it will not happen again.
Just a plan, a promise of a plan a hint one may be found .
To?, do the impossible! save Greece, it can not be done, save all those country's who owe more than they, without real effort real pain pay.
Capitalism is built on the purchasing power credit gave us.
Individuals/Nations
That credit had to be built on reason , understanding, it had to be paid.
We all , will pay in some way others bills.
And the biggest part? a system forced on us because of others miss deeds.
After all, money is only paper and metal you can not eat it.
But without it you can not live.
Posted by Belly, Wednesday, 28 September 2011 6:25:40 AM
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