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Second Financial Economic Crash Coming - Huge & Soon

Discussion in 'The Economy' started by Tropo, 7th Jul, 2009.

  1. Tropo

    Tropo Well-Known Member

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    Second Financial Economic Crash Coming - Huge & Soon
     
    Last edited by a moderator: 17th Sep, 2016
  2. davo6253

    davo6253 Well-Known Member

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    Scary stuff! Wonder if the predicted 50% defaults will be accurate, but that was interesting viewing thnx tropo.
     
  3. OLI

    OLI Well-Known Member

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    Why isn't this big news given the effect the sub-prime disaster had on the world economy? If there is a second wave about to hit does this mean another big crash is imminent? I guess any sharemarket recovery will be short-lived...

    I'm surprised there hasn't been more discussion on this.
     
  4. Chris C

    Chris C Well-Known Member

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    Well it isn't exactly "new news" plus it isn't quite as relevant for Australia either.

    Also the news organisations don't tend to be looking for future news, it much prefers to grab the news of the day because most people live day to day. Plus I think so many people want to believe they haven't been living a lie for the last two decades so they are much happier grabbing hold of the "green shoots" argument than biting the bullet and facing up to reality - but I can think you can just notch that one up to human nature.

    At the end the day what is going to happen is going to happen, it's what we do about the aftermath that matters. The most important thing will be to put a lease on the banks again, but to do that it will take a lot of public support for such action given that banks all around the world have politicians in their pockets.
     
  5. Tropo

    Tropo Well-Known Member

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    OLI,

    IF ‘second wave’ is about to hit, market probably crash again.
    According to one well known economist market crash is scheduled for October.:eek:
    Some analysts are saying that market need 7~10 years to fully recover.
    Nothing is impossible in the market (eg. DOW under 6800 level again...)
     
  6. OLI

    OLI Well-Known Member

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    Hi Chris, I see what you're saying but I would have thought it was relevant for Australia. Just as no-one knew what sub-prime was before the aftermath from that disaster hit us! And here we are being given a warning of what's to come 2 years in advance.
     
  7. OLI

    OLI Well-Known Member

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    Hi Topo, an October crash is a bit early for it to be related to this second wave of US mortgage defaults so there would have to be another two sharemarket crashes yet! :eek:
     
  8. Tropo

    Tropo Well-Known Member

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    Geee... :confused:
    I guess I need a few beers right now...:p
     
  9. Chris C

    Chris C Well-Known Member

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    Pffft... as if you'd want a few drinks on Friday afternoon!

    :p

    I'm not saying it's irrelevant give our very globalised world, I'm just implying that its ramifications will be about as relevant as the sub prime mess was on Australian property... as in if a crisis does eventuate from a second wave of mortgage defaults, then I expect Australian property to obviously be adversely impacted, but I personally think Australia's real issues of too much are debt are home grown, and the US property problems won't be the catalyst for our own systematic unwind, it will be the raising interest rates and falling GDP (and unemployment/wages).

    Depends on what the central bankers decide. Most CBs have targets to maintain inflation within an economy, so if we expect them to follow their own rules, we should expect them to print the way out of the problem, but if you can't trust the bankers, then you definitely can't trust a central banker!

    :D
     
  10. Tropo

    Tropo Well-Known Member

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    "Pffft... as if you'd want a few drinks on Friday afternoon!"

    Well...Blame OLI for that. I am innocent !!!! :D

    "Depends on what the central bankers decide.
    Most CBs have targets to maintain inflation within an economy, so if we expect them to follow their own rules, we should expect them to print the way out of the problem, but if you can't trust the bankers, then you definitely can't trust a central banker!"


    Frankly...I could not care less what @&*()* bankers or anybody else will decide.
    I can make a bit whichever way market moves.;)