Nah, the world will turn inside out and encompass the moon.
Hmm, will have to wait and see if it drops more. Just got into buying shares, so maybe will find some cheap shares at the end of this and then watch them pick up value again.
All eyes on Wall St - What's your prediction?
- Thread starter Admiral Huddy
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Nah, the world will turn inside out and encompass the moon.
Hmm, will have to wait and see if it drops more. Just got into buying shares, so maybe will find some cheap shares at the end of this and then watch them pick up value again.
I'm trying to be more optimistic, i believe there will be a slowdown but stop short of a full recession, global economics have changed since the last one and whilst the US is still very influential i believe that the investments made into the emerging markets (China/India) will serve us in good stead.
The US is in a spot of trouble but i think it will recover, finance companies should be able to estimate the ammount of loss from the housing market and compensate.
It's a bit of a pain for me really, my plan was to move to the US sometime in the next 3 years, it's a good time to buy a house as they are dirt cheap. However the reason they are cheap is the same reason that will make it impossible for me to sell my house here (only bought it 2006
)
My biggest hope is that house prices don't go into freefall, i estimated that the price went up 10% since i bought it, and have since gone down by 3% due to the credit crunch.
The US is in a spot of trouble but i think it will recover, finance companies should be able to estimate the ammount of loss from the housing market and compensate.
It's a bit of a pain for me really, my plan was to move to the US sometime in the next 3 years, it's a good time to buy a house as they are dirt cheap. However the reason they are cheap is the same reason that will make it impossible for me to sell my house here (only bought it 2006
)My biggest hope is that house prices don't go into freefall, i estimated that the price went up 10% since i bought it, and have since gone down by 3% due to the credit crunch.
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What's worse with this situation is that interest rates are already low, so you can't boost confidence in lowering rates. Can you? What leverage is there?
And especially as the fact that people have been borrowing and spending like there's no tomorrow for the last few years anyway so even if they did lower interest rates there's no guarantee this would stimulate the economy much anyway as lots are already close to being maxed out.
depends if we get a fed cut in interest rates - if we don't then the dow will go down maybe as much as 1000 points.
but we may get a cut today and a cut at the end of the month depends what they consider more important - the dollar or wall street - in the past they have been happy to destroy the dollar.
but we may get a cut today and a cut at the end of the month depends what they consider more important - the dollar or wall street - in the past they have been happy to destroy the dollar.
Man of Honour
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Sounds kinda tempting really, how soon can I look out for that? I leave my job on the 1st of February so any time after that sounds excellent.
We could have kids using stacks of £1,000 notes as building blocks.
I'm far from a financial expert but I can't imagine it would be allowed to get that bad again, I'd guess it will be more likely that there will be some (severe) job losses with the accompanying rise in unemployment with perhaps a causal or casual (take your pick) link with increased crime, consumer credit will be very limited (we are already seeing some evidence of this) and rather obviously a limited market for luxury goods. Negative equity for some in the housing market, linked with the lack of availability of consumer credit so all in all not much fun but hopefully not as serious as some recessions have been. The above would all assume we actually hit a recession rather than a simple and somewhat inevitable slowdown in the economy.
Soldato
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I'll be amazed if we don't. They're probably trying to hang on until the scheduled meeting next week, but I think the quick turnaround on the FTSE this morning tells us word's out that action's about to be taken.
Of course lowering interest rates won't really help this time. It worked in 2001/2, but only because the western world went into debt bubble mode to buy time. Now that time's run out and inflation's heading upwards, trapping central banks in a very nasty economic trap.
It's time to swallow the medicinal recession if you ask me. We'll come out leaner and healthier on the other side... with China owning half the country.
Andrew McP
Soldato
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I don't hope that happens, because then those that live in real life will just have everything a lot tougher.
I think I'm going to go and build a hut in a forest and buy some gold instead of leaving money in the bank. The hermit lifestyle is the new one for me.
...what about the millions that would suffer as a result of it going down the pan? for every person who's profitted there's dozens who would face financial ruin if there was a recession.
Job losses, negative equity...there are no winners.
People shouldn't get themselves up to the neck in debt just so they can conform to the faux-lifestyles sold to them.
After all, this is what it's all about isn't it really? Debt.
Serves them right.
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This is an interesting point because there are a lot of people who would otherwise be described as scum on handouts who made a pile of money on their run down properties they bought off the council just because of the housing boom. I know I'm going to get jumped on for saying that because I have been before, but I've seen first hand that some people round here are the dregs of society and nothing but a drain both socially and financially. It annoys me seeing them minted, driving round in brand new cars like they own the place when they've never lifted a finger to work in their whole life, just been in the right place at the right time, had their council place provided for next to nothing and then handed to them for a paltry figure while the rest of us now can't afford to get on the property ladder. How's that fair?
Anyway, it will be interesting to see what happens for someone with a job, no debts and has no mortgage if there is a recession. The sensationalising press are good at accelerating these sort of things with ridiculous predictions and scaremongering so bring it on I say
Associate
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I work in tech at one of these large bank places 
it's stressful but things look ok
it's stressful but things look okI work in tech at one of these large bank places
For now! what time does the dow jones open, or has it opened yet?
Anyway, it will be interesting to see what happens for someone with a job, no debts and has no mortgage if there is a recession. The sensationalising press are good at accelerating these sort of things with ridiculous predictions and scaremongering so bring it on I say
Indeed - I'm gonna be fine and dandy whether a deep recession strikes or not.
Bring it on x 2
Indeed - I'm gonna be fine and dandy whether a deep recession strikes or not.
Bring it on x 2
well lucky you! some people are not so fortunate
i completely agree, but i think the fed will try to protect those in debt for a while longer, until inflation becomes unbearable. This is just the start of the worlds economic problems - its time to pay for a decade of record debt.