Mr Lee Posted March 11, 2009 Posted March 11, 2009 IMF warns of global "Great Recession"Could the world really be facing a global recession? I think most signs point to us already being in one, I wonder what others think on the mess we all seem to be in? and how can individuals protect ourselves in this mess? http://www.abs-cbnnews.com/business/03/10/...great-recession Link to comment Share on other sites More sharing options...
Mik Posted March 11, 2009 Posted March 11, 2009 "The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." - H. L. Mencken In the past six months we have just seen two US presidents, two US Treasury secretaries and the Fed chariman make gloom and doom speeches about the economy. They caused panic in the stock markets which led to its rapid decline. A self-fulfilling prophecy at a time when the markets were vulnerable to a push. It's market manipulation on a massive scale. I believe the recession will deepen during the next four years or at least until the current occupant of the Oval Office is ousted. Link to comment Share on other sites More sharing options...
retired Posted March 11, 2009 Posted March 11, 2009 IMF warns of global "Great Recession"Could the world really be facing a global recession? I think most signs point to us already being in one, I wonder what others think on the mess we all seem to be in? and how can individuals protect ourselves in this mess? http://www.abs-cbnnews.com/business/03/10/...great-recession Seems to me that being in a world wide recession is pretty much a no - brainer. Maybe a better query would be how hard will times get in the Philippines before the smoke clears . Just my opinion but i believe this country is already much worse off than the politicians let on . Just read an on - line this am about philippine exports being down around 40% for Jan and despite the fact there is demand for nursing people a very small % of this countries population will ever qualify to go abroad . Link to comment Share on other sites More sharing options...
johnrxx99 Posted March 12, 2009 Posted March 12, 2009 (edited) Err, have some people here missed the last 18 months? lol We have been in a global recession for the last 6 months.Today on Bloomy is the same as any other:-Asian Stocks Fall on Renewed Recession Concern; Honda Slumps Yen Gains as Deepening Global Recession Spurs Demand for Refuge Buffett Resumes U.S. Takeover Hunt as Prices, Competition Ease Last week news was released that 53% of the WORLDs assets have been eliminated. A lot of it did not exist, it was all paper debt manufactured by banks, given a AAA rating and sold to insurance companies, yes, those guys who manage your 401k's and pension funds around the world.Each day there are new records being set. Quarterly production down 12-25% in all nations worldwide, unemployment up - US now 8.1% and rising at 650000 a month. I could go one but it's all out there for you to see on the web.I went into Home Build today for a dicromic light bulb. They had been out of stock for 3 months! They were 60p they are now 190p. The long life versions were 600p a month ago, they are now 790p.I got a letter today from HSBC UK renewing my overdraft. It used to be at 11% it's now 19% and the bank rate has gone down to 0.5%. People on Main Street are starting to see the effect of this crisis. It will be long and painful. Governments continue to pour taxpayers money into the very institutions that caused the mess so that at least they can give out the bonuses. Get ready for inflation folks. It may take a year or too, in the meantime a bit of deflation Edited March 12, 2009 by johnrxx99 Link to comment Share on other sites More sharing options...
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