Global Financial Crisis (1 Viewer)

[Captain Hero]

The global economy is fucked because of corporate greed....

The seppos can't get their head out of their own asses.

Insightful post. Please, continue.

 

[Captin gay]

Is this crisis restricted to the financial industry? Will it spill over into IT?

 

[Iron]

Pope Benedict XVI today said that the global credit crisis shows that the world's financial systems are "built on sand" and that only the works of God have "solid reality".

Opening a Synod of Bishops in the Vatican the Pope referred to a passage from St Matthew's Gospel on false prophets, saying ''He who builds only on visible and tangible things like success, career and money builds the house of his life on sand''.

He added: ''We are now seeing, in the collapse of major banks, that money vanishes, it is nothing. All these things that appear to be real are in fact secondary. Only God's words are a solid reality''.

He was referring to Jesus's words in Matthew Chapter 7, beginning "Beware of false prophets, which come to you in sheep's clothing, but inwardly they are ravening wolves."

Jesus adds: "Whosoever heareth these sayings of mine, and doeth them, I will liken him unto a wise man, which built his house upon a rock …but everyone that heareth these sayings of mine, and doeth them not, shall be likened unto a foolish man, which built his house upon the sand.”
http://www.timesonline.co.uk/tol/comment/faith/article4893190.ece

 

[Captin gay]

I wilL FIGHT A WAR defending secularism. Id rather DIE than to buy a schnitzel with gods words

 

[Trefoil]

Is this crisis restricted to the financial industry? Will it spill over into IT?

It already has. IT is fundamentally connected to the financial industry. It has hit Apple, HP, IBM and Google from so far from the top of my head. I know Apple and HP recently laid off a bunch of jobs.

Remember, the last recession in 2000 was caused in part by the dot.com bubble.

 

[chicky_pie]

Dollar could fall as low as US65c



THE Australian dollar plunged 6.8 per cent overnight to a four-year low on global economic woes and could fall even further next year as the world growth slows, analysts say.

Overnight, the domestic currency dropped below US70c for the first time since September 2004, as large falls on world share markets saw the Australian dollar fall US5c from yesterday's close.

Since mid-July, the Australian dollar has shed 29 per cent since reaching a 25-year high of US98.49c, a level previously reached during the fixed exchange rate era.

http://www.news.com.au/business/story/0,27753,24459435-31037,00.html

Noooooooooooooooooooooooooooooooooo

 

[Mothers]

Noooooooooooooooooooooooooooooooooo

AHAHAHAHAHAHA, you're such a bogan bitch. You've got to understand that there are positive repercussion of a falling Aussie dollar and a fall in the value of our dollar is expected.

Now, more countries will buy our exports because it appears as though they are cheaper, and you've got to remember that exports make up 20% of our GDP.

Also, our economy goes in cycles. Now, we're experiencing a downswing, and soon we'll be at a trough (where our dollar will probably fall to 65c).

As well as being able to sell more exports, we'll also get a massive influx of tourists who are bidding to lap up the savings they'll receive.

Don't be such a bogan.

 

[chicky_pie]

AHAHAHAHAHAHA, you're such a bogan bitch. You've got to understand that there are positive repercussion of a falling Aussie dollar and a fall in the value of our dollar is expected.

Now, more countries will buy our exports because it appears as though they are cheaper, and you've got to remember that exports make up 20% of our GDP.

Also, our economy goes in cycles. Now, we're experiencing a downswing, and soon we'll be at a trough (where our dollar will probably fall to 65c).

As well as being able to sell more exports, we'll also get a massive influx of tourists who are bidding to lap up the savings they'll receive.

Don't be such a bogan.

How the fuck is so positive if you're planning to work overseas and you need money to start there if the dollar is oh so weak which makes it harder now, you're the bogan bitch, stay in this shithole infested with Krudds and Aboriginals, you're the bogan junkie.

 

[Mothers]

How the fuck is so positive if you're planning to work overseas and you need money to start there if the dollar is oh so weak which makes it harder now, you're the bogan bitch, stay in this shithole infested with Krudds and Aboriginals, you're the bogan junkie.

AHAHAHAHAHAHAHA, wow, you really are stupid. I needed a few minutes to process what you'd typed. And I wasn't talking about you, I was talking about the economy as a whole, bogan.

Just one more thing: How old are you?

 

[Zingy]

LOL. The day anyone takes financial advice from jebus is the day I go on a killing spree.

 

[MasterPUA]

This October we are going to see a "Black Monday" style crash. At the very least we will see a three figure absolute drop in the dow.

Mothers:

1. You are assuming that chicky_pie should adopt utilitarianism in her view of the falling dollar. It is ignorant of you to restrict her utility curve.
2. Even if she did adopt a utilitarian view, a falling dollar could indeed cause (and reflect) negative fundamentals in the economy. A priori, you cannot assume that the 'positive repercussions' will outweigh the negative repercussions.

Whilst you know nothing about real economics, you sound like you will do well in HSC economics.

 

[Mothers]

This October we are going to see a "Black Monday" style crash. At the very least we will see a three figure absolute drop in the dow.

Mothers:

1. You are assuming that chicky_pie should adopt utilitarianism in her view of the falling dollar. It is ignorant of you to restrict her utility curve.
2. Even if she did adopt a utilitarian view, a falling dollar could indeed cause (and reflect) negative fundamentals in the economy. A priori, you cannot assume that the 'positive repercussions' will outweigh the negative repercussions.

Whilst you know nothing about real economics, you sound like you will do well in HSC economics.

AHAHAHA, thank you very much. I know that I'm totally ignorant to real economics. It's a shame that the HSC course is so watered down.

 

[chicky_pie]

AHAHAHAHAHAHAHA, wow, you really are stupid. I needed a few minutes to process what you'd typed. And I wasn't talking about you, I was talking about the economy as a whole, bogan.

Just one more thing: How old are you?

You don't even know what a bogan is, sorry but my parents aren't convicts mate.

 

[chicky_pie]

This October we are going to see a "Black Monday" style crash. At the very least we will see a three figure absolute drop in the dow.

Mothers:

1. You are assuming that chicky_pie should adopt utilitarianism in her view of the falling dollar. It is ignorant of you to restrict her utility curve.
2. Even if she did adopt a utilitarian view, a falling dollar could indeed cause (and reflect) negative fundamentals in the economy. A priori, you cannot assume that the 'positive repercussions' will outweigh the negative repercussions.

Whilst you know nothing about real economics, you sound like you will do well in HSC economics.

MasterPUA, I want to marry you.

 

[staticsiscool]

Massive increase in export imo. Mining boom will continue. Agriculture will pick up again with food shortages etc and cheaper exports from here. Manufacturing eg commodores are already worth fuck all in america, middle east etc.

 

[Garygaz]

You all need to 'Learn to economics' immediately before commenting on the issue. The reason our dollar is falling has nothing to do with our economy's fundamentals, it's to do with financial institutions wanting security for their cash. The Aus Gov. bond market is only around $50 billion where as a single financial institution could issue bonds worth that much in the US. Since the Aus government has no debt, it doesn't need to issue as many bonds as America does who has ridiculous amounts of debt.

So, what firms are doing are buying back into large economies currencies, like Japan and the US and buying into bond markets as that is where they feel there money is the most safe, even though they are still losing money as the interest rate is lower than inflation (though its still safer than any other option on the market atm). In fact, our fundamentals are far better than the US's, we have higher growth, lower inflation, higher return on interest and less debt. The world economy is in pandemonium.

 

[Silver Persian]

Aussie interest rate cut of 1%.

See guys, Comrade Rudd is doing things for working families




Yes I know the government doesn't control interest rates

 

[Nebuchanezzar]

Excuse me, but he also makes working families feel good about government.

Until they work out how very little he actually has done. But until then - fuck we're pleased with Comrade Rudd.

 

[Garygaz]

*hopes thread doesn't turn into a political debate*

 

[icecreamk3]

omgah smart people ;_;

nts: study hard in yr12!