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#153167 - 17/12/2008 23:09 Re: Financial Meltdown 2008/09
ColdFront Offline
Meteorological Motor Mouth

Registered: 29/06/2008
Posts: 18617
Loc: The Beach.
AD keep your chin up mate. I got reasonable grades when I finished school 25 years ago and was unemployed for several months prior to starting my first job.

If you really, really get stuck and are prepared to work (for bloody good money) there is always work for fruit pickers.
_________________________
"water has c.30x the heat capacity of air. Someone drop the penny please for those fixated on the notion that the atmosphere is the driver ( preferably in 3D)".

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#153168 - 18/12/2008 10:08 Re: Financial Meltdown 2008/09
-Deano- Offline
Weatherzone Addict

Registered: 29/10/2008
Posts: 2931
Loc: Melton VIC
Yeah, I think my potential employers are also a little bit cautious about hiring me because I've already had 2 jobs in the space of 2 years. I got my first job in Year 10 and hated it, so I quit after 3 months. Then I lasted about a year and a half in my second job, until I quit to focus on Year 12. So yeah, maybe they're cautious about hiring me because they think I might just get up and leave them?

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#153169 - 18/12/2008 11:12 Re: Financial Meltdown 2008/09
Pacman Offline
Meteorological Motor Mouth

Registered: 14/11/2001
Posts: 5236
Loc: Cairns - Upper Bentley Park
And then there is the armed forces who are experiencing record low recruits, maybe the tables are about to turn for them. Good money and a secure job.

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#153170 - 19/12/2008 16:38 Re: Financial Meltdown 2008/09
ColdFront Offline
Meteorological Motor Mouth

Registered: 29/06/2008
Posts: 18617
Loc: The Beach.
_________________________
"water has c.30x the heat capacity of air. Someone drop the penny please for those fixated on the notion that the atmosphere is the driver ( preferably in 3D)".

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#153171 - 24/12/2008 02:02 Re: Financial Meltdown 2008/09
ColdFront Offline
Meteorological Motor Mouth

Registered: 29/06/2008
Posts: 18617
Loc: The Beach.
_________________________
"water has c.30x the heat capacity of air. Someone drop the penny please for those fixated on the notion that the atmosphere is the driver ( preferably in 3D)".

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#153172 - 31/12/2008 13:57 Re: Financial Meltdown 2008/09
ColdFront Offline
Meteorological Motor Mouth

Registered: 29/06/2008
Posts: 18617
Loc: The Beach.
http://www.abc.net.au/news/stories/2008/12/31/2457194.htm

The economist are doing their bit to make sure 09 is a pearler. wink
_________________________
"water has c.30x the heat capacity of air. Someone drop the penny please for those fixated on the notion that the atmosphere is the driver ( preferably in 3D)".

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#153173 - 31/12/2008 14:05 Re: Financial Meltdown 2008/09
Seabreeze Offline
Weatherzone Moderator

Registered: 18/09/2005
Posts: 10454
Loc: South West Rocks, NSW
I don't think regional NSW is being hit hard yet. The Deli over Christmas Week recorded a 19% increase in profits over last year and the whole store went up 14% to record it's first week of trading above $500 000. Accommodation places are reporting near record to record numbers. Maybe all the city folk are spending their money in the country, which is letting keeping our local/regional economy strong. smile

Even the composition of overseas tourists has changed here. Usually we get heaps of Americans, Germans, French, and British over Christmas but this time around we have Chinese, LOTS of Brazilians, and eastern European countries (like Bulgaria and Romania). Others and myself usually ask them where they come from if I suspect that they may be international tourists.
_________________________
South West Rocks, NSW Mid North Coast:
November 2018 Rainfall: 74.8mm (November Avg. 115.2mm) // November 2018 Raindays: 9 (November Avg. 11.7 raindays)
Year-to-date Rainfall: 1297.8mm (Jan-Nov Avg. 1357.1mm) // Year-to-date Raindays: 120 (Jan-Nov Avg. 124.6 raindays)

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#153174 - 08/01/2009 11:55 Re: Financial Meltdown 2008/09
ColdFront Offline
Meteorological Motor Mouth

Registered: 29/06/2008
Posts: 18617
Loc: The Beach.
_________________________
"water has c.30x the heat capacity of air. Someone drop the penny please for those fixated on the notion that the atmosphere is the driver ( preferably in 3D)".

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#153175 - 09/01/2009 08:29 Re: Financial Meltdown 2008/09
Arnoldnut Offline
Weatherzone Addict

Registered: 18/10/2006
Posts: 1557
Loc: Arnold, NthWest Vic
I like your play on words there CF laugh

Baling out some of these bilges is getting more interesting as it goes along.
......methinks the pumps/baling isn't keeping up too well though.
_________________________
The trouble ain't that there is too many fools, but that the lightning ain't distributed right.

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#153176 - 09/01/2009 09:31 Re: Financial Meltdown 2008/09
Helen Offline
Moderator

Registered: 07/11/2001
Posts: 9659
Loc: Mid North, SA
Love it CF, keep 'em coming. :rofl:
_________________________
2017 YTD - 67.8mm Yearly Average - 403mm
Jan - 32.8mm (10mm) / Feb - 35.0mm (10mm) / Mar - - (15mm) / Apr - - (31mm)
May - - (46mm) / June - - (51mm) / July - - (59mm) / Aug - - (54mm)
Sept - - (48mm) / Oct - - (38mm) / Nov - - (23mm) / Dec - - (18mm)
Total 2016 - 637.2mm



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#153177 - 18/01/2009 08:44 Re: Financial Meltdown 2008/09
ozthunder Offline
Weatherzone Addict

Registered: 23/09/2001
Posts: 3209
Loc: Mt Warrigal, NSW, Australia
I normally do not like posting direct links to articles, but this essay is pretty good and sums up a lot of my own observations.

http://www.abc.net.au/unleashed/stories/s2465017.htm
_________________________
Michael Thompson
http://ozthunder.com

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#153178 - 19/01/2009 09:35 Re: Financial Meltdown 2008/09
ColdFront Offline
Meteorological Motor Mouth

Registered: 29/06/2008
Posts: 18617
Loc: The Beach.
_________________________
"water has c.30x the heat capacity of air. Someone drop the penny please for those fixated on the notion that the atmosphere is the driver ( preferably in 3D)".

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#153179 - 20/01/2009 17:46 Re: Financial Meltdown 2008/09
TranslucidusW Offline
Weatherzone Addict

Registered: 18/11/2003
Posts: 2663
Loc: Southern Adelaide
Does anyone have a feel for where the ASX200 will bottom; I'm calling it at 2800.

[img]http://chart.finance.yahoo.com/c/2y/_/_axjo[/img]
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I don't know anything . . .
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#153180 - 20/01/2009 18:53 Re: Financial Meltdown 2008/09
Andy Double U Offline
Weatherzone Addict

Registered: 28/10/2006
Posts: 1829
Loc: Mundoolun, SE QLD, 129m ASL
I think it is anyone's guess Translucidus, I think 3000 will be a big psychological barrier and wouldn't be surprised to see the market kick up big time if it touched it. But if the timing of it is such that the pollies are still talking doom and gloom and government policy is having no real positive effect on the economy than 2800 could very definitely be on the cards. The other thing is that if the sharemarket continues its slide then I don't think there will be any great respite in property prices as people will be wanting to put their money into the things you can see and touch. My feeling is that if there were a few spare $$$ lying around that I would be looking very closely at shares.

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#153181 - 21/01/2009 08:50 Re: Financial Meltdown 2008/09
Arnoldnut Offline
Weatherzone Addict

Registered: 18/10/2006
Posts: 1557
Loc: Arnold, NthWest Vic
I watched a program that was discussing the fact detroit has been in decline since the 70s and yet they paddle on in a negative profit area.
Americans ssem to have this head rush of self that says the rest of the world owes them a living.
Cut 'em loose I reckon ....and float the whole thing again.....they'll never pay their debts to the rest of the world while at the same time they point then finger at any welfare states in the world when they have become the biggest screwup of the lot in every possible way.
More than half of the citizens of the USA believe that the earth is less than 10,000 years old and completely ignore the evidence and try to convinnce the rest of the world this is the case ....and then we go with the financial advise of a country of 'end-time' believers.....give me a break!!

If you want to see how it has become in the USA ...just watch Sicko ....where this country of the USA actually throws out hospital patients who can't pay anymore (took their money for the first half of the patients treatment the scumbags) from their beds and sticks them in a taxi with intravenous tubes and such hanging from their bodys and just dump them on the street in front of a free clinic somewhere.

THAT is the most uncivilised thing I've ever seen.....and said it all about the state of the States
_________________________
The trouble ain't that there is too many fools, but that the lightning ain't distributed right.

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#153182 - 21/01/2009 09:01 Re: Financial Meltdown 2008/09
Arnoldnut Offline
Weatherzone Addict

Registered: 18/10/2006
Posts: 1557
Loc: Arnold, NthWest Vic
Look I'm not going to be surprised if the find a way to deal shares that are in negative territory (I mean derivitive managers found a way)
Just need a tax incentive that causes you to buy BHP at minus $30 a share laugh

I'm thinking the bottom of the market might be just what it is....the bottom.
_________________________
The trouble ain't that there is too many fools, but that the lightning ain't distributed right.

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#153183 - 21/01/2009 09:40 Re: Financial Meltdown 2008/09
Arnoldnut Offline
Weatherzone Addict

Registered: 18/10/2006
Posts: 1557
Loc: Arnold, NthWest Vic
I don't really know much about this but I do know what I observe.
Apparently Islamic banking is better weathering the meltdown because sharia law curbs excessive risk-taking, with bans on interest and trading in debt. The strictures on usury mean investments would have meant that they would never enter into these processes the west are into.
Islamic banks don't have any subprime and therefore no problems other than they are left the only ones standing and yet I hear very very little about this in the wests media.

My boy does a bit for the islamic community in melb.....he's a concrete cutter who is prepared to work his machines barefoot. He's become their preferred contractor in as much as he seems to be always working for one mosque or another.
These Islam groups are the only clients he has that pay him at jobs completion. Not even our govt apys you like that (pays @ 120 days if your lucky) ....most other @ 90 days and is accepted as perfectly normal.

'Tis garbage really living off the back of someones debt ....I couldn't do it as it would leave a bad taste in my mouth ....and as I've said for years here .....check the old Stock Market threads ....'obscene' has always come to mind for me.

Why can't people pay their way in the world anymore.....I know without this crazy credit system most of the worlds knackered ......but how the hell did we let it get like that where the systems become dependant on living off other peoples backs?

Maybe here is something about this ban on 'Usery' that the east has. One things for sure ...our kids wouldn't be taking out these extraordinary home loans that they are forced to...locking themselves in pretty well for ever.
_________________________
The trouble ain't that there is too many fools, but that the lightning ain't distributed right.

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#153184 - 21/01/2009 13:56 Re: Financial Meltdown 2008/09
ColdFront Offline
Meteorological Motor Mouth

Registered: 29/06/2008
Posts: 18617
Loc: The Beach.
Quote:
Originally posted by Arnoldnut:
I hear very very little about this in the wests media.

...and this surprises you how? The media are protecting big business. We haven't learnt a damned thing in this latest episode of downturn. Home sellers are still using crap like " a free pool, billiard table or holiday" to sell their homes to the weak. They do it through the media.

It is high time all this stuff was stopped. Nothing is free in the building industry. Nothing.

I also watched 60 minutes a few weeks back and saw these young women borrowing on credit. One was declared bankrupt after all the fees piled up. A teenager with two 50" high def plasma tvs. Yep she was stupid, but the banks need to be accountable too.

Australia is yet to see the pain that the rest of the world is suffering in economic terms. It's coming though. When it hits it will hit very hard.

The government does need to put in seem means of regulation. Whether those "so called" responsible spenders amongst us like it or not.

Why should our retirees have to suffer in the share market because of someone else's mistakes?
_________________________
"water has c.30x the heat capacity of air. Someone drop the penny please for those fixated on the notion that the atmosphere is the driver ( preferably in 3D)".

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#153185 - 21/01/2009 16:13 Re: Financial Meltdown 2008/09
WelloMeteo Offline
Weatherzone Addict

Registered: 05/01/2006
Posts: 1488
Loc: Wellington Point SEQ (30km eas...
We won't learn much from the news, but a couple of things happened in the last few days that have set my alarm bells ringing. GE finance rang me (they have my details from an interest free purchase that is nearly paid out - and yes, way before the interest kicks in) and asked would I be interested in "debt consolidation". When I said I was doing OK thanks, he seemed surprised, and actually said to me "well, you're doing better than most then". Today, I receive a letter from ANZ who are offering an "investment account" that you can link to your savings account - all you need to do is transfer a min. of $1000 and they will do the rest, investing my money in "more than 200 large Australian companies". Do I smell desperation in the air?

Oh - and in France, you can get your whole house tiled for 1 euro if you sign up for a new home now . . . Sales there have dropped by 40%

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#153186 - 24/01/2009 02:13 Re: Financial Meltdown 2008/09
seaweed Offline
Weatherzone Addict

Registered: 13/10/2001
Posts: 1561
Loc: Robina SEQ
A rather good quote from Steve Ballmer, the CEO of Microsoft on what is causing the GFC.
Quote:
Were certainly in the midst of a once-in-a-lifetime set of economic conditions. The perspective I would bring is not one of recession. Rather, the economy is resetting to lower level of business and consumer spending based largely on the reduced leverage in economy, said Chief Executive Steve Ballmer during a conference call. For consumers, that may mean less discretionary income to spend on a second or third home computer, he said.
This pretty well encapsulates all that is going on atm. My take is that there isn't much governments can do to fix the GFC, It isn't a problem, rather a measured approach by consumers to reduce debt. Also it says to us that inflated asset prices and the huge loans that paid for them, whether they be houses, land or flashy cars are a thing of the past.

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