Jump to content

More Ecomomic Gloom


Recommended Posts

I reall seeing that retail sales had fallen in the US last month by 1.2% The headlines said it had gone "off a cliff", while I was thinking "that's a step in the right direction". Rampant consumerism is not a good thing and is cerrtainly unsustainable.

So you conclude????????? Are you suggesting that worldwide finacial turmoil is somehow a good thing????

My conclusion was that I hoped after whatever correction might come a more sustainable economy might emerge. I'm not particuarly hopeful on that score.

Gentlemen,

my conclusion is that this turmoil is indeed a good thing and i have one single reason to defend my point. imagine the financial bubble did not start to burst in the middle of 2007 and the fine bankers, hedge funds, fraudsters et al had several more years to invent financial perpetuum mobiles, "derive more derivatives", bullsh*tting an even greater number of investors and shareholders and last not least taxpayers to bail them out. if that what the case we'd face a bubble and a breakdown of a multiple size than that we are facing now.

need i say more? :o

PLEASE tell us more,more,more, and then some more,,, whats you point?, PLEASE tell us more,,, your so smart....so tell us more,,, :D

my point is that it does not make any sense to discuss the paint stroke and the paint mixture of a Rembrandt or Michelangelo with blind people (e.g. you) :D

Are you not the guy who put a marble floor around your pool and said that the flooring is not slippery? :D i rest my case...

Link to comment
Share on other sites

  • Replies 62
  • Created
  • Last Reply

Top Posters In This Topic

Bail out was wrong & continues to prove itself wrong. If they wanted to wipe the slate they should have started wiping the victims slates not the crooks.

you are forgetting one important fact Flying. some months ago we were on the brink of a global financial freeze, meaning not even simple transfers or ATMs would have functioned if it had happened. in my [not so] humble view most of the banker bàstàrds were well aware of this danger and "banked" on government bail-outs because alternatives did not exist.

That is what *they* said & some believed them but what now? Also every bank I checked in this State was doing fine at the time. See most banks here do not sell their mortgages. But hey thios whole thing is not even what they claimed right?

I mean it has been proven they could have paid off every bad sub prime & had tons of change so............??

That is all besides the point though because if they had in fact wiped the slates of the victims & not the crooks...who would care if a ATM froze? Only *them*

Its wrong all wrong :o Sadly they screwed the pooch now all will pay. We can only hope a bit of the French Revolution gets replayed here.

Link to comment
Share on other sites

It's kind of exhilarating in a way, this stuff doesn't happen much and when it does, boy is TS gonna hit TF :o

But I think going into Condo buying is pretty crazy.

People need to realise that when things are desperate and a depression happens the CRIME rate goes shooting up as well! As foreigners we'll need to be especially careful if this meltdown continues.

In a warped way I feel the same as you.

I have mentioned to a few friends already that this is historical albeit we shall see how painful too.

I agree on the condo too. We were getting ready to buy a home there but I will wait now. We still have a condo in CM

To tell you the truth we will be back there for 2 months soon but I am Leary.

I would rather not be in a foreign country if things get bad. We live in a rural area now that is quite safe.

Link to comment
Share on other sites

It's kind of exhilarating in a way, this stuff doesn't happen much and when it does, boy is TS gonna hit TF :o

But I think going into Condo buying is pretty crazy.

People need to realise that when things are desperate and a depression happens the CRIME rate goes shooting up as well! As foreigners we'll need to be especially careful if this meltdown continues.

In a warped way I feel the same as you.

I have mentioned to a few friends already that this is historical albeit we shall see how painful too.

I agree on the condo too. We were getting ready to buy a home there but I will wait now. We still have a condo in CM

To tell you the truth we will be back there for 2 months soon but I am Leary.

I would rather not be in a foreign country if things get bad. We live in a rural area now that is quite safe.

I would have thought living in a condo would be much safer? more people about, security on site even if useless, rural house??????? eeeeeeeeeeeeeeeeeeeek!!!!!!

Link to comment
Share on other sites

EXACTLY,,,, hence,,,this is one of the reasons the wife and i are now selling our ONE OF A KIND WWW.LUXURYHOUSECHIANGMAI.WEBS.COM at a FIRE SALE PRICE

Respect Jamesjimmy.

You can certainly write exciting sales prose. I am breathless. It deserves a feature in The Walking Street Journal. Wow and only 12.5m baht!

As it happens I also have a vet who has given me a vetted value of 25m baht for a rare antique velocipede. Imagine floating along on those softly inflated cushions of bracing sea air as you traverse the streets of this earthly paradise on the pristine coast of the exotic Gulf of Siam.. Listen enraptured to the sonorous calls from the bars of Soi 6. "Hey hansum man, why you no let me sit on crossbar?"

A straight swop? :o

Best of luck. Its a bargain for someone.

Link to comment
Share on other sites

It's kind of exhilarating in a way, this stuff doesn't happen much and when it does, boy is TS gonna hit TF :o

But I think going into Condo buying is pretty crazy.

People need to realise that when things are desperate and a depression happens the CRIME rate goes shooting up as well! As foreigners we'll need to be especially careful if this meltdown continues.

In a warped way I feel the same as you.

I have mentioned to a few friends already that this is historical albeit we shall see how painful too.

I agree on the condo too. We were getting ready to buy a home there but I will wait now. We still have a condo in CM

To tell you the truth we will be back there for 2 months soon but I am Leary.

I would rather not be in a foreign country if things get bad. We live in a rural area now that is quite safe.

I would have thought living in a condo would be much safer? more people about, security on site even if useless, rural house??????? eeeeeeeeeeeeeeeeeeeek!!!!!!

Actually in a shtf scenario you do not want to be where "more people about" are.

In rural areas we know all the folks around & most grow their foods & are armed.

Strangers would not find it easy to navigate. As for security on site? In a bad time security would be sadly out numbered & hoping for the best. Or in some countries where foreigners cannot arm themselves security may be more of a problem than a help.

Link to comment
Share on other sites

It's kind of exhilarating in a way, this stuff doesn't happen much and when it does, boy is TS gonna hit TF :o

But I think going into Condo buying is pretty crazy.

People need to realise that when things are desperate and a depression happens the CRIME rate goes shooting up as well! As foreigners we'll need to be especially careful if this meltdown continues.

In a warped way I feel the same as you.

I have mentioned to a few friends already that this is historical albeit we shall see how painful too.

I agree on the condo too. We were getting ready to buy a home there but I will wait now. We still have a condo in CM

To tell you the truth we will be back there for 2 months soon but I am Leary.

I would rather not be in a foreign country if things get bad. We live in a rural area now that is quite safe.

I would have thought living in a condo would be much safer? more people about, security on site even if useless, rural house??????? eeeeeeeeeeeeeeeeeeeek!!!!!!

Actually in a shtf scenario you do not want to be where "more people about" are.

In rural areas we know all the folks around & most grow their foods & are armed.

Strangers would not find it easy to navigate. As for security on site? In a bad time security would be sadly out numbered & hoping for the best. Or in some countries where foreigners cannot arm themselves security may be more of a problem than a help.

Are you guys for real?

Security sadly outnumbered? Foreigners not able to arm themselves? Hundreds of hungry Thai's pushing down the barricades eager to get to Johnny Farang's Vegemite supplies.

<deleted> I can't help but think that some of you guys have too much time on your hands or watch too many DVDs

Link to comment
Share on other sites

I actually think Thailand will be one of the countries with the least problems for its people. Sure people get fired and have no more money. But they just go back to their families farms. Just like they did in 1997.

I shudder to think what will happen in New York, Paris, London or any other big western city. 3 days if not less into depression and the supermarket is empty.

Link to comment
Share on other sites

I actually think Thailand will be one of the countries with the least problems for its people. Sure people get fired and have no more money. But they just go back to their families farms. Just like they did in 1997.

I shudder to think what will happen in New York, Paris, London or any other big western city. 3 days if not less into depression and the supermarket is empty.

Well, I'm leaving London and heading for the family farm.

Things won't get bad in Thailand. These folks never had any more money after 1997 because of IMF restrictions on the fractional reserve banking system. They were skint . . . they will continue to be skint.

Back in the West however . . .

Link to comment
Share on other sites

I actually think Thailand will be one of the countries with the least problems for its people. Sure people get fired and have no more money. But they just go back to their families farms. Just like they did in 1997.

I shudder to think what will happen in New York, Paris, London or any other big western city. 3 days if not less into depression and the supermarket is empty.

Empty supermarkets, my arse.

I have NEVER heard such drama queens in all my life.

There will be a period of deflation. Some people who are effectively underemployed now will be laid off - it's called natural attrition. Those who are paying for assets they can't afford with borrowed money will lose them - serves them right. Companies who can't manage their way out of a paper bag, will go broke. Good riddance.

It's all perfectly normal, and nothing to worry about.

For the average westerner in a normal relatively secure job, they will hardly notice it. Prices will rise. They will grumble that they can only afford to rent two DVDs tonight, instead of four and in two or three years time it will all get back to normal.

Already UK banks are advertising 95% mortgages again.

The credit crunch didnt last that long, did it?

Link to comment
Share on other sites

I actually think Thailand will be one of the countries with the least problems for its people. Sure people get fired and have no more money. But they just go back to their families farms. Just like they did in 1997.

I shudder to think what will happen in New York, Paris, London or any other big western city. 3 days if not less into depression and the supermarket is empty.

Empty supermarkets, my arse.

I have NEVER heard such drama queens in all my life.

There will be a period of deflation. Some people who are effectively underemployed now will be laid off - it's called natural attrition. Those who are paying for assets they can't afford with borrowed money will lose them - serves them right. Companies who can't manage their way out of a paper bag, will go broke. Good riddance.

It's all perfectly normal, and nothing to worry about.

For the average westerner in a normal relatively secure job, they will hardly notice it. Prices will rise. They will grumble that they can only afford to rent two DVDs tonight, instead of four and in two or three years time it will all get back to normal.

Already UK banks are advertising 95% mortgages again.

The credit crunch didnt last that long, did it?

:o

Link to comment
Share on other sites

Empty supermarkets, my arse.

I have NEVER heard such drama queens in all my life.

There will be a period of deflation. Some people who are effectively underemployed now will be laid off - it's called natural attrition. Those who are paying for assets they can't afford with borrowed money will lose them - serves them right. Companies who can't manage their way out of a paper bag, will go broke. Good riddance.

It's all perfectly normal, and nothing to worry about.

For the average westerner in a normal relatively secure job, they will hardly notice it. Prices will rise. They will grumble that they can only afford to rent two DVDs tonight, instead of four and in two or three years time it will all get back to normal.

Already UK banks are advertising 95% mortgages again.

The credit crunch didnt last that long, did it?

WOW- the " disconnect " between how bendix sees things compared to people like Dominique Strauss-Kahn, Managing Director of the International Monetary Fund is astonishing........ :o

Link to comment
Share on other sites

Hundreds of hungry Thai's pushing down the barricades eager to get to Johnny Farang's Vegemite supplies.

Actually none want that stuff eh? :o No matter how bad things get neither the Thais nor I would eat that :D

but i've heard it drives snakes away when you sprinkle a small amount once a month around your home.

Link to comment
Share on other sites

I actually think Thailand will be one of the countries with the least problems for its people. Sure people get fired and have no more money. But they just go back to their families farms. Just like they did in 1997.

I shudder to think what will happen in New York, Paris, London or any other big western city. 3 days if not less into depression and the supermarket is empty.

why shudder? do you own supermarkets in any of these cities? :o

Link to comment
Share on other sites

I reall seeing that retail sales had fallen in the US last month by 1.2% The headlines said it had gone "off a cliff", while I was thinking "that's a step in the right direction". Rampant consumerism is not a good thing and is cerrtainly unsustainable.

So you conclude????????? Are you suggesting that worldwide finacial turmoil is somehow a good thing????

My conclusion was that I hoped after whatever correction might come a more sustainable economy might emerge. I'm not particuarly hopeful on that score.

Gentlemen,

my conclusion is that this turmoil is indeed a good thing and i have one single reason to defend my point. imagine the financial bubble did not start to burst in the middle of 2007 and the fine bankers, hedge funds, fraudsters et al had several more years to invent financial perpetuum mobiles, "derive more derivatives", bullsh*tting an even greater number of investors and shareholders and last not least taxpayers to bail them out. if that what the case we'd face a bubble and a breakdown of a multiple size than that we are facing now.

need i say more? :o

PLEASE tell us more,more,more, and then some more,,, whats you point?, PLEASE tell us more,,, your so smart....so tell us more,,, :D

my point is that it does not make any sense to discuss the paint stroke and the paint mixture of a Rembrandt or Michelangelo with blind people (e.g. you) :D

Are you not the guy who put a marble floor around your pool and said that the flooring is not slippery? :D i rest my case...

yes i am and i still claim the floor is not slippery. but what would anybody know about marble who never could afford a marble floor? :D

Link to comment
Share on other sites

The shock doctrine is applied and again it seems to work.

We need another 9/11 Cheney told to keep the people in fear.

The peeps up high realised they cannot do another 9/11 as many flaws in that official story have been exposed.

Remember about 6 months ago when they told us there is a food crisis, so where is it now?

Oil up to 150 USD a barrel, where is it now?

I wonder what the next plan is.

Aliens invading Earth, I guess.

Link to comment
Share on other sites

It is just the first stage. It is called 'denial'. We can wait for the second 'anger'. :D

Oh, don't ruin it . . . I was just enjoying Bendix' optimism. :D

Pom Duay but I would so love to see a picture of him later :o

I actually think Thailand will be one of the countries with the least problems for its people. Sure people get fired and have no more money. But they just go back to their families farms. Just like they did in 1997.

I shudder to think what will happen in New York, Paris, London or any other big western city. 3 days if not less into depression and the supermarket is empty.

I agree if you have less far to fall the landing is not as hard but.............Lordy I would not want to be in BKK during a bad time.

Edited by flying
Link to comment
Share on other sites

I agree if you have less far to fall the landing is not as hard but.............Lordy I would not want to be in BKK during a bad time.

Why?

10 million in a relatively small area ?:o Tough in good times scary in bad times IMHO

Edited by flying
Link to comment
Share on other sites

I agree if you have less far to fall the landing is not as hard but.............Lordy I would not want to be in BKK during a bad time.

Why?

10 million in a relatively small area ? :o Tough in good times scary in bad times IMHO

I think many will just go home to Issan family farms. Big reduction in urban populations.

Tell you what though, I wouldn't want to be in London. That is bad even in the good times. I lived on the Romford Road between Stratford and Forest Green for a few months early 2008 when I was at the infamous Olympics project.

Wow! I had no idea how bad it was until then.

Link to comment
Share on other sites

The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a "total" financial meltdown unseen since the Great Depression.

"The lack of confidence is total," Miguel Angel Fernandez Ordonez said in an interview with Spain's El Pais daily.

"The inter-bank (lending) market is not functioning and this is generating vicious cycles: consumers are not consuming, businessmen are not taking on workers, investors are not investing and the banks are not lending.

"There is an almost total paralysis from which no-one is escaping," he said, adding that any recovery -- pencilled in by optimists for the end of 2009 and the start of 2010 -- could be delayed if confidence is not restored.

Ordonez recognised that falling oil prices and lower taxes could kick-start a faster-than-anticipated recovery, but warned that a deepening cycle of falling consumer demand, rising unemployment and an ongoing lending squeeze could not be ruled out. "This is the worst financial crisis since the Great Depression" of 1929, he added.

:o Unheard of that a chairman (governor) of a(ny) Central Bank uses such words. It's the same as throwing oil into a fire.

I am the last to deny that Spain is in big trouble, with 1,6 MILLION houses on the market (on a population of 40 million) and an ever increasing unemployment of now almost 13% on a labor force of 22,2 million.

On top of that Spain accepted some 700,000 illegals a few years back and the country can't carry the weight of the immense problems anymore.

I know quite a few people in Spain, and I tell you...it's BAD....very very bad. But the causes in Spain are different than the ones in the UK and Ireland, to name a few more bad apples in the basket, together with the USA.

Spain kept on building houses, more than the UK, Germany and Italy combined last year and this year (per year !).

That's asking for big trouble.

They're in that nasty situation now and it's getting worse.

But, that the Central Bank Governor uses such words in bringing extra fear into the market, cutting the meager spending by the population even more.

LaoPo

I have a feeling that this is a shot across the bow of the USS Trichet :D Spain, Italy, Greece, Ireland and a few of the smaller EU countries are feeling the pain of the Trichet maddness on keeping inflation in check. The ECB is way behind the curve in lowering interest rates and Spain is one of those feeling the most pain. Granted Spain did it to themselves just as the U.K. and the U.S., but the U.K. and the U.S. are not teathered to this interest rate crumudgeon Trichet :D As bad as it is in Spain, I have greek friends that tell me Greece is even in worse shape to the point that they believe that insurrection is not out of the question.

Link to comment
Share on other sites

I reall seeing that retail sales had fallen in the US last month by 1.2% The headlines said it had gone "off a cliff", while I was thinking "that's a step in the right direction". Rampant consumerism is not a good thing and is cerrtainly unsustainable.

So you conclude????????? Are you suggesting that worldwide finacial turmoil is somehow a good thing????

My conclusion was that I hoped after whatever correction might come a more sustainable economy might emerge. I'm not particuarly hopeful on that score.

Gentlemen,

my conclusion is that this turmoil is indeed a good thing and i have one single reason to defend my point. imagine the financial bubble did not start to burst in the middle of 2007 and the fine bankers, hedge funds, fraudsters et al had several more years to invent financial perpetuum mobiles, "derive more derivatives", bullsh*tting an even greater number of investors and shareholders and last not least taxpayers to bail them out. if that what the case we'd face a bubble and a breakdown of a multiple size than that we are facing now.

need i say more? :o

PLEASE tell us more,more,more, and then some more,,, whats you point?, PLEASE tell us more,,, your so smart....so tell us more,,, :wai:

my point is that it does not make any sense to discuss the paint stroke and the paint mixture of a Rembrandt or Michelangelo with blind people (e.g. you) :D

:rolleyes:Are you not the guy who put a marble floor around your pool and said that the flooring is not slippery? :D i rest my case...

His case is he had the money to put marble around a large indoor pool in a huge estate. I think his chauffeur, maid and gardener liked it. ie. right more times than wrong on financial issues :D

just dont listen to him on remodeling issues :D

Edited by jimmys
Link to comment
Share on other sites

Like I said, those heavily leveraged will suffer. Good. Serves the greedy gits right.

Those in untenable fatty jobs producing nothing will suffer. Good. Serves the useless shits right.

Those spending more than they earn will suffer. Good. Som nam na.

But those who have been frugal and lived within our means, who save before buying, who do due diligence before investing etc . we'll be fine, thank you very much. In fact, we'll be better than fine. We'll reap the benefits of others' mistakes.

:-)

Link to comment
Share on other sites

Like I said, those heavily leveraged will suffer. Good. Serves the greedy gits right.

Those in untenable fatty jobs producing nothing will suffer. Good. Serves the useless shits right.

Those spending more than they earn will suffer. Good. Som nam na.

But those who have been frugal and lived within our means, who save before buying, who do due diligence before investing etc . we'll be fine, thank you very much. In fact, we'll be better than fine. We'll reap the benefits of others' mistakes.

:-)

Let me guess. You won't be running for any political office as a COMPASSIONATE conservative?

Link to comment
Share on other sites

Like I said, those heavily leveraged will suffer. Good. Serves the greedy gits right.

Those in untenable fatty jobs producing nothing will suffer. Good. Serves the useless shits right.

Those spending more than they earn will suffer. Good. Som nam na.

But those who have been frugal and lived within our means, who save before buying, who do due diligence before investing etc . we'll be fine, thank you very much. In fact, we'll be better than fine. We'll reap the benefits of others' mistakes.

:-)

Until inflation hits. Then all that saved money will be worthless. For the rest i agree 100% with you. It is just that savings are not 'save'. Having other assets is important these times. Like land, houses, and for me gold.

Edited by Khun Jean
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.









  • Topics

  • Latest posts...

    1. 6,330

      Australian Aged Pension

    2. 3

      Thailand Live Friday 20 September 2024

    3. 3,396

      President Kamala Harris

    4. 111

      Pager Explosions in Lebanon Target Hezbollah Members 9 Dead Thousands Injured

    5. 58

      PM Faces Pressure Over Thaksin's Alleged Hospital Fake-Out

    6. 1

      Thailand Introduces New Bill to Regulate Cannabis While Keeping It Legal

    7. 1

      Thailand Introduces New Bill to Regulate Cannabis While Keeping It Legal

    8. 29

      A full medical check up in the Bangkok area?

    9. 0

      Israeli Citizen Arrested Over Alleged Iranian Plot to Assassinate Netanyahu

    10. 0

      Mohamed Al Fayed Accused of Systematic Sexual Abuse: Harrods’ Dark History

    11. 0

      Israel Shifts Focus to Northern Front as Walkie-Talkie Bombs Signal New War Phase

    12. 0

      Teamsters’ Neutral Stance: A Blow to Harris and a Challenge for Trump

×
×
  • Create New...
""