lolzstar said:This global crisis is being engineered for the new Amero currency.
If you have assets in U.S dollars you better dump them ASAP.
OFFICIAL: Europe officially in recession
EUROPE officially went into recession overnight as world leaders gather in Washington to discuss the global financial crisis
http://www.news.com.au/business/story/0,27753,24655250-462,00.html
Hmm. Our dollar is back up to 66.5 cents though, so that's good.stazi said:this was once again insane. dow was starting to head up slightly, and likely to finish about 1.5% down with 8 mins to go. now it's 3% down. that's billions wiped off in less than a minute
edit 3.8% down
Depends who you are.Trefoil said:Hmm. Our dollar is back up to 66.5 cents though, so that's good.
Now's not the time to be speculating with weekly/monthly turnarounds.stazi said:i should just stay out of the stock market.
Nah. A lower dollar is good up to a point (especially during a financial crisis), and that point is about 60 to 70 cents. Lower than that is not really good for anybody and only prevents economic recovery.moll. said:Depends who you are.
If you work for an exporting company then no, it's not good.
If you're a greedy materialistic pig, the yes, it's great for you.
For the economy as a whole: Bad.
Exports won't recover as fast if the dollar keeps gettin' higher, meaning slower jobs growth and higher unemployment.
lol and the first people they sack are those in the marketing departmentstazi said:this was once again insane. dow was starting to head up slightly, and likely to finish about 1.5% down with 8 mins to go. now it's 3% down. that's billions wiped off in less than a minute
edit 3.8% down
Yet they don't know more about the economy than the market itself. Floating curency exists for a reason.Trefoil said:Nah. A lower dollar is good up to a point (especially during a financial crisis), and that point is about 60 to 70 cents. Lower than that is not really good for anybody and only prevents economic recovery.
The Reserve Bank has intervened at least three times now to keep the dollar from slipping below 60 cents. Why is that? It's because they know more about the economy than you.
i dont know of any marketing jobs lost. pwned.withoutaface said:lol and the first people they sack are those in the marketing department
Yeah sure. The floating currency is for the most part an idealised notion. Strict adherence to it is not intrinsically more valuable than making sure it doesn't get out of control. Anyway, typically the currency is left to float freely, except during periods of extreme pressure, such as now, when market agents are generally acting out of fear instead of anything approximating 'perfect knowledge'. There's nothing wrong with intervening to prop up the currency except for the fact that it offends your absolutist Libertarian sensibilities.withoutaface said:Yet they don't know more about the economy than the market itself. Floating curency exists for a reason.
So that means crude oil dropping (like we are seeing now). Cheaper international travel if oil remains low, with countries in recession looking for our dollars?courtesy of BA said:A global economic slowdown will ease upward pressure on commodity prices and inflation. It will also begin to smooth imbalances in global trade—and eventually housing markets.
I don't know if China is included in that recession list. I think it is (i.e. China will post GDP growth but the other factors indicate it's in a recession, because ECRI uses a more specialised economic index than the simple 'two-quarter' definition).blue_chameleon said:If Britain, US, Japan, China, India etc all fall into recession, and Australia manages to avoid it, what would this mean for Aus?
How would global recession and us avoiding one benefit us?
*shrug* that's just what I heard from mates who work with banks and financial institutions. P&G might be different because all the company is is marketing.stazi said:i dont know of any marketing jobs lost. pwned.
compared to the insane number of banking jobs lost, which is just scary.