Australian (ASX) Stock Market Forum

Preparing for a depression in Australia

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There have been some excellent suggestions on this thread, but I think Knobby's and Julia's are the best. Handouts are the way to go.

I also think that Archilles' achilles heel is his pessimism. All these suggestions will no doubt show him the value of lateral thinking.
 
IMO the Depression has started people has now realised the Bailouts are a dud and they is no other answer more bad news is coming out hourly and Gold is taking of so if Gold keeps rising and at a good rate this will be the indicator we are heading down.
Get the dates of the Calendar and store then for hard times...unless your gold stocks are going well.
 
Forget gold and silver, buy STEEL.

Then you can erect yourself a good solid shelter to protect yourselves from when the sky starts falling.

This is all self perpetuating BS, one big vicious circle of doom and gloom. Many companies are cutting back because of the EXPECTED downturn. Many people are being sacked for no other reason than fear. The company my wife works for just laid off about 45 people in Australia, not because they are going bad here (in fact their sales have improved) but because the US wasn't performing so Australia "had to share the load". This was the official reason given by the company - sharing the load!!

The story is repeated time and time again of people preparing for hard times when this preparation just adds to the problem.
 
2BAD4U said:
Forget gold and silver, buy STEEL.

Then you can erect yourself a good solid shelter to protect yourselves from when the sky starts falling.

This is all self perpetuating BS, one big vicious circle of doom and gloom. Many companies are cutting back because of the EXPECTED downturn. Many people are being sacked for no other reason than fear. The company my wife works for just laid off about 45 people in Australia, not because they are going bad here (in fact their sales have improved) but because the US wasn't performing so Australia "had to share the load". This was the official reason given by the company - sharing the load!!

The story is repeated time and time again of people preparing for hard times when this preparation just adds to the problem.
Click to expand...


your point just highlighted the fact we are in a depression.. more people will save the government stimulus package than spend it because they are worried about the future.. as you said it continues on and on, and becomes self full filling, problem is the temper is set ... its too late and we are heading for a major downturn.

its the individual choice to save or spend as much as its the companies choice to sack...its when its the collective of individuals that choose to not spend that create far greater problems and the downward spiral that continues.
 
2BAD4U said:
Forget gold and silver, buy STEEL.

Then you can erect yourself a good solid shelter to protect yourselves from when the sky starts falling.

This is all self perpetuating BS, one big vicious circle of doom and gloom. Many companies are cutting back because of the EXPECTED downturn. Many people are being sacked for no other reason than fear. The company my wife works for just laid off about 45 people in Australia, not because they are going bad here (in fact their sales have improved) but because the US wasn't performing so Australia "had to share the load". This was the official reason given by the company - sharing the load!!

The story is repeated time and time again of people preparing for hard times when this preparation just adds to the problem.
Click to expand...
You're quite right. The government has been by far the greatest contributor to this whole attitude with their continued forecasts of "worst ever" scenarios.
 
Not just the government though. Blame the media, the internet, water cooler discussions.

This constant talk of the impending unemployment problem doesn't help. Anyone here ever lost their job and got through it ok? I did. Lost my job in the early 90's a month after I had signed up to build my first house. It wasn't the end of the world (although if felt like it for a day or two). It's how you handle the situation that determines how you get through it. I went from wearing suits to work to packing bricks. I had to work so I would do anything.

Many people are fearing what's coming probably because they have never experienced it before.
 
Once we would have thought that an Orwellian concept like; Saving is bad. Spending is good, was a recipe for disaster.

Our leaders assure us it is the way to go. But how do we know they know what they are doing.:dunno:

And while the handouts are continued the majority will approve. Eventually an impasse will be reached when the pork barrel will be empty. What happens then?
 
I prepare for doom and gloom so i can stay ahead and be somewhat prepared if it were ever to happen. True that, i can sometimes get pessimistic - i've even gone to the extent of planning for possible warfare ( not that you can plan much ):mad:


I would love nothing more than to be wrong, history does repeat itself but on the contrary people also learn from their mistakes... i hope national and internatioanl governments do too.
 
Here's a kicker I found a forum that was from back in 2000 about the tech wreck. And the exact same arguments came out back then, about the US dollar collapse, the massive US debt and end of the world as we know it (bomb shelters, canned food, and guns). And look what happened in the years following that:D

CDO's worry me atm though. And I have prepared myself a little, in the event of a worst case scenario.
 
im going to run to the hills and pack my trailer full of canned food, circa
Y2K bug, god knows those guys were right. either that or turn the tv
off for a while, even the media will get tired of doom and gloom shortly
 
I found this this morning.




But Don't Panic just yet...

In case you missed this on Sunday:
Failure to save East Europe will lead to worldwide meltdown:
http://www.telegraph.co.uk/finance/co...

And here it begins:
Eastern Europe fears hit bank stocks:
http://www.ft.com/cms/s/0/18809f6a-fc...

GM is also stumbling; as is Chrysler.
Auto Maker Bankruptcy Looms:
http://online.wsj.com/article/SB12348...

Is Cash King Again? CDS Market's Liquidity Dries Up:
http://online.wsj.com/article/SB12348...

I liked the line in here: "The providers also say it is impossible to clone"; guess they haven't watched the YouTube videos that demo cloning these things LOL
Dying cheques mark changing times :
http://news.bbc.co.uk/1/hi/business/7...

SDRs are Special Drawing Rights - from the IMF -
Special Drawing Rights (SDRs):
http://www.imf.org/external/np/exr/fa...

Still think we're all nuts? Hope you prepared...

Peace
 
nothing creates a crowd, like a crowd. real easy to focus on the negatives,
a little harder to see through it. have fun!
 
electronicmaster said:
Still think we're all nuts? Hope you prepared...
Click to expand...

People were predicting the "end" 18 months ago, and most were busy reading about it then and preparing (read back in the "Imminent and severe market correction" thread on here).. it's all becoming a little tired now the general media, etc has now just jumped on the bandwagon realising how bad things are :rolleyes: When the media does that it's almost time to turn around and do the opposite.

They did it on the oil bubble, and now it's the gold bubble, and now we just wait for the next one to come along..
 
Wow, looks like lots of people are buying gold :p
If everyone rushes into gold, then isn't this going to form another bubble?
 
Now I AM depressed.... my poor hero of capitalism ... :(

In an ominous move for our local would-be international casino boss, Trump Entertainment Resorts and nine related companies filed for Chapter 11 bankruptcy protection overnight.

Who said the house always wins?

On Friday Donald Trump resigned as chairman of Trump Entertainment. ''I quit'' remains a step above ''you're fired'' for the obnoxious self-promoter with the bad comb-over.

The bottom line is the same, though, for the three Trump casinos in Atlantic City, New Jersey - they can't meet their loan payments.

Unlike Australia's cozy monopoly casino regime, where state governments give their operator of choice sole rights to a city or whole state, running casinos overseas can entail the same problems of any other business - competition and over-capacity in a slowing market.

Trump Entertainment isn't the only US casino outfit in trouble - a symptom of Las Vegas' strife is that it has the third-highest mortgage foreclosure rate in the US. And it's not just in the US that mug punters are having second thoughts about throwing away their money when they're fearful of losing their jobs.
Click to expand...
http://business.theage.com.au/business/who-says-the-house-always-wins-20090218-8an5.html

Awww. Shoot! I s'pose next we'll hear about Buffett's balls-up.

Dag nabit!! :banghead:
 

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