I predict

MrBurns · 7 October 2008

Interest rates will fall to 3% perhaps 2% by June next year.
It's just lucky we have the room to move.

Savings income will suffer but perhaps the capital will be safer.

ASX down to early 3000's within 6 months.

Commodity boom bust and financial institutions problems means we have nothing to hold it up.

Property will collapse within 12 months perhaps less, commercial and residential will all go

Recovery ..well cant see that far ahead just yet.

And so I advise............

Gundini · 7 October 2008

And so you advise what?

The end of the world as we knew it?

Glen48 · 8 October 2008

True so far Harvey Norman, Clive Peters, Good Guys in receivership car yards closed down Holden Ford working a few days a week if lucky. The Going Green boom will be starting with Solar panels factories starting up. Houses being redesigned to a more green approach.Thousand of teen back living with Mother and bankrupt. Lambo's turned in to work Ute's.
Houses prices still going down with years to go until the Bottom. President Obama laid to rest. Palin trying to put Moose in her Hair. Plasma TV's buy one get one free.. OZ dollar on the way up at last. Inflation under control Newspaper now $6.50 a copy. One bank in trouble another rumours.
Un employment high for shop office workers. Caravans in people back yards cheap rent to help with home owners income.

Remind me next years how we went.

moXJO · 8 October 2008

Whens that carbon tax coming into effect? The timing could make it messy

MrBurns · 8 October 2008

Gundini said:
And so you advise what?

The end of the world as we knew it?

I advise to get out of debt as much debt as you can ASAP if possible.

It's happening before our eyes as I write this, the RBA will lower interest rates again very soon to try to slow things down, thank goodness we have a buffer there but it wont stop the rot.

This is a clean out of all the BS "no interest no repayments til 2020" Harvey Norman type activity and a lot of other similar practices.

So thats all over now, the whole scene will change so prepare yourself for a much simpler life without the hyperdebt mentality.

Sean K · 8 October 2008

I predict that if this all goes worse case the world will be at war not too long after.

MrBurns · 8 October 2008

kennas said:
I predict that if this all goes worse case the world will be at war not too long after.

I was waiting for someone to bring that up, I too have the fear that if someone tries to take advantage of the crises ie: Russia or Pakistan it would immediately bring the whole system down.

This is the exact climate for war to break out, let's hope we're wrong.

As bad as things are it can very easily slip into a chasm that you never imagined possible.

nioka · 8 October 2008

MrBurns said:
I advise to get out of debt as much debt as you can ASAP if possible..

Wrong again. There is never a good time to get into debt but once there you have to select the right time to exit. To exit without an exit strategy can prove very expensive. Why sell assets below value just to get out of debt. Do a "Centro" and negotiate your way out at a time to suit you. Dont be a lemming.

Sean K · 8 October 2008

MrBurns said:
I was waiting for someone to bring that up, I too have the fear that if someone tries to take advantage of the crises ie: Russia or Pakistan it would immediately bring the whole system down.

This is the exact climate for war to break out, let's hope we're wrong.

As bad as things are it can very easily slip into a chasm that you never imagined possible.

The poverty that a world depression would result in will cause numerous social issues. Central Asia and the Middle East do not need too many more reasons to kick off a big one, causing many to choose a team.

MrBurns · 8 October 2008

nioka said:
Why sell assets below value just to get out of debt.

I'm assuming that whatever the assets are sold for today they will be worth less in a few months time.

You wouldn't be selling assets below value as you say - the values have changed.

If you were right I'd be plunging everthing into the stock market right now, they're cheap arent they ? NO this is their new lower value.

jonnycage · 8 October 2008

you heard it, run to the hills people its the end of the world.

MrBurns · 8 October 2008

jonnycage said:
you heard it, run to the hills people its the end of the world.

There's no room the hills are full of Lehman execs.

Temjin · 8 October 2008

MrBurns said:
I was waiting for someone to bring that up, I too have the fear that if someone tries to take advantage of the crises ie: Russia or Pakistan it would immediately bring the whole system down.

This is the exact climate for war to break out, let's hope we're wrong.

As bad as things are it can very easily slip into a chasm that you never imagined possible.

I thought WW2 is what took Amercian out of its economy decline/stagnation by being a manufacturing powerhouse?

Knobby22 · 8 October 2008

Temjin said:
I thought WW2 is what took Amercian out of its economy decline/stagnation by being a manufacturing powerhouse?

It was actually the "Panic of 1873" that was the start of the USA being a manufacturing powerhouse. Incidentally, the panic was very similar to today. a credit squeeze which caused a depression.

http://en.wikipedia.org/wiki/Panic_of_1873

dhukka · 8 October 2008

kennas said:
I predict that if this all goes worse case the world will be at war not too long after.

MrBurns said:
I was waiting for someone to bring that up, I too have the fear that if someone tries to take advantage of the crises ie: Russia or Pakistan it would immediately bring the whole system down.

This is the exact climate for war to break out, let's hope we're wrong.

As bad as things are it can very easily slip into a chasm that you never imagined possible.

Yeah great point and often overlooked amidst all the market hyperbole. Their are currently cracks appearing all over the little EU experiment.

MrBurns · 8 October 2008

Oh dear,

Hang Seng 15871.15 -932.61 -5.55%
AUD/USD 0.6779 -0.0378 -5.28%

nunthewiser · 8 October 2008

predicts a nice lil bounce tommorow

white_goodman · 8 October 2008

nunthewiser said:
predicts a nice lil bounce tommorow

i predict a 50% chance of that happening

nunthewiser · 8 October 2008

white_goodman said:
i predict a 50% chance of that happening

i think you may be right !

MrBurns · 8 October 2008

nunthewiser said:
predicts a nice lil bounce tommorow

Nope .........either flat or down again, there's no bargains there , BHP has hardly moved and the banks haven't been decimated yet.

I predict

MrBurns

Gundini

Glen48

Money can't buy Poverty

moXJO

menace to society

MrBurns

Sean K

Moderator

MrBurns

nioka

Sean K

Moderator

MrBurns

jonnycage

MrBurns

Temjin

Knobby22

Mmmmmm 2nd breakfast

dhukka

MrBurns

nunthewiser

white_goodman

BOC

nunthewiser

MrBurns

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