Where will we be in a year?

Discussion in 'Every Day Debating' started by Turambar, Oct 11, 2008.

  1. Turambar

    Turambar Harebrained Staff Member

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    So... all major stock markets have been shedding at least 50% of their values, banks are keeling over at an unprecedented rate and even the first country is on the verge of filing bankrupcy with the IMF. There's no one really doubting that there will be a recession and the only remaining question is how deep exactly it will be - and whether we should look at the word depression to describe the future.

    What I am curious about is what people think this means for them - and their future. Will you be able to stay in your home? Anyone taking precautious actions so as to make it better through the forthcoming period? Anyone scared for their jobs? or - for those at university - education? I am talking on a personal level, what do you think?
     
  2. Kaine999

    Kaine999 ┼╫£ §₧£§╫µ⌠

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    Well that is an interesting proposition, I am not entirely certain where I WILL be, I know where I would like to be, but I will not say, as it could be taken in the wrong context.
    Worst comes to worst, this country needs a good revolution, we have not had one yet, I believe a good one could do wonders for this country (Australia in case you know me not at all)
    Personally I am kinda hoping for a good war to break out, none of this "war on terror" crap used to excuse a thinly veiled attempt at a resource take over, and revenge at a base level.
    Too many cooks and all that.........
    But this is just my frank and personal view, maybe considered a little redneck, but I do have my reasons.

    @Tur you haven't stated your view yet.
     
  3. Blackness

    Blackness Well-Known Member

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    I agree with Kaine for the most part.
    Where will be no one can know, but i'm pretty sure next 5 years won't be pretty.
    However, at least it's going to be interesting.
     
  4. Turambar

    Turambar Harebrained Staff Member

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    Well, as this was a thread on personal views, I don't think you have either. I mean, how do you suppose this crisis will affect you, Kaine?

    Anyway, I think that I am kneedeep in it as it stands. I am currently unemployed and trying - desperately - to find meself a job before all hell breaks loose and companies start laying off people in the masses.

    Now, my industry is a bit different, as there always needs to be healtcare - and research therein won't grind to a halt all of the sudden. But what i will happen is that charity- and gouvernment funded research will grind to a halt, which means a lot of people will start looking at my industry as well, being the pharmaceutical industry. So the market will be flooded, and the only thing I can do is making DEAD sure I've got an edge on this pool. Wich I am heavily investing in now, at whatever sacrifice is necessary.

    Then, maybe, I'm just in time - and will actually make it through quite decently.
     
  5. Kaine999

    Kaine999 ┼╫£ §₧£§╫µ⌠

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    Well atm I work in retail, and I hate it, so anything is better.
    There is no real future in retail, hence why I am training my body to be able to with stand harsh and unforgiving scenarios (prepping for war)
    And as I said, I am unsure on how it will effect me, but I am hoping for war, as that seems to help matters for a while (it is after all human nature to fight and bicker with a little feuding on the side,)
    But this could just be my loose tongue talking, I bet in the morning I will have an entirely different opinion on this matter
     
  6. Blackness

    Blackness Well-Known Member

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    I'm not really worried about the financial aspect.
    IF there is indeed a world depression, isn't that synonimous to war?
     
  7. Kaine999

    Kaine999 ┼╫£ §₧£§╫µ⌠

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    As far as I can tell, that is the inevitable outcome.
    But we shall all have to wait and see.
     
  8. ~Elladan~

    ~Elladan~ A Elbereth Gilthoniel

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    It certainly looks doom and gloom ahead and we've yet to see the real volume of job losses which will ripple through the whole (world) economy as the true cost and depth of this downturn becomes apparent.

    Personally, as I run my own business, I'm not as worried about it as I would have been if I was still directly employed in the banking sector. No doubt there'll be a period where the business will just tick over at (much) reduced profit levels but then that was always going to happen at some point so money had been set aside. Major purchases will be delayed a bit, I'll shop around more and less 'impulse' purchases so no new gadgets this year! On the positive side oil prices are coming down and I suspect a lot of businesses will have sales so bargains should be available. Our savings have been spread around so they're fully protected and when the stock markets bottom out we'll buy equities as many companies are now undervalued. Life goes on, we'll just be sensible and tighten our belts until things start to settle down.
     
  9. JIM

    JIM zombie Turncoat

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    i freed up some cash from the sale of property and am waiting for the stock market to lower a little before investing
     
  10. Unraveller

    Unraveller <a href="http://photobucket.com" target="_blank"><

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    I think they've pretty much bottomed and are starting to recover. The announcements on the American recovery package will send them up again, unless it's totally useless. This is just my opinion however, don't blame me if it causes you to lose money ;)

    The next month will pretty much determine where I'll be in a year, the Big Four do their hiring now.
     
  11. JIM

    JIM zombie Turncoat

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    tho i live in australia, and am waiting for our stocks to drop a bit as well, i can invest in american, but there is little trust there
     
  12. __________

    __________ New Member

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    I am happy to be honest, I just freed up some cash and am looking at buying up. Very timely for me!
     
  13. Unraveller

    Unraveller <a href="http://photobucket.com" target="_blank"><

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    I'd invest in Japan personally.
     
  14. Crusader

    Crusader Disturber of the Peace

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    good war? kind of oxymoronic isnt it? War would only make the current crisis worse as it depletes more resources than it often gains, just look at iraq.

    Besides, anyone who would hope for a war needs their head examined.





    In a year, hopefully, we'll be on our way out of the credit crisis, depending on when the low point comes, whether the bailout has worked or its just a temporary fix, I don't know.

    I'm in my fourth and final year of university, luckily its a masters course where if i escape now I still get a standard degree, so if it hits the fan I wont be left without qualifications. Unfortunately in a design field the halting of the economies is bad news for consumer product fields combined with the current job shortange the the area, not good.

    Luckly I do some part time work for a miniatures company, and maybe just maybe I can get some more steady revenue out of that and avoid job hunting if the job market collapses.
     
  15. Mem

    Mem Mosh Warrior

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    so...where are we?^^
     
  16. Kakashi

    Kakashi The Fighters Guide House Member

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    I'm investing in GM.