7deanos1993
Active Member
- Joined
- Nov 29, 2008
- Messages
- 40
- Reaction score
- 0
Thats what I said, everyone is saving and putting nothing back due to media and the government telling everyone to save and not spend.
What happened to ebay being cheap?
- Thread starter motoluver
- Start date
Help Support Mini Dirt Bikes & Pit Bikes Forum:
Thats what I said, everyone is saving and putting nothing back due to media and the government telling everyone to save and not spend.
Everyone is saving your right but the govermnet isn't telling everyone to do it. The financial crisis is having that effect by scarring people. The government is telling everyone to spend and providing everyone with money to do it.
Yeah a very valid point vert you're dead right ... unfortunately I think the horse and gate thing still fits.
7deanos1993
Active Member
- Joined
- Nov 29, 2008
- Messages
- 40
- Reaction score
- 0
I don't mean they are literally saying "save your money, don't spend it", it's just the message they are portraying when they depict the extent of the situation through the media, and how it scares everybody so no one is spending money, therefore the economic situation worsens ten times more.
I think that a few people that have commented in this thread don't completely understand what the economic crisis is or the true extent of it. It's not some fantasy thing that has been created by scare mongering or any government (unless you count some very dodgy U.S. policies).
This is a very, very simplistic explaination.
It was primarily created by the subprime loan market in the U.S. In simplistic terms, home loans were available to people that didn't normally qualify and in effect couldn't pay them back. And property prices in the U.S. were massively inflated.
The bottom falls out of the property market (it really just evened out), people's loans that they can't pay are sometimes for more than double what the property is actually worth, so the banks are holding assets that are actually worth billions less than the money borrowed against them and the loans cannot be repaid... hence financial institutions collapse, there's a tightening of credit worldwide and the flow on is now being felt by you and me. Some of these financial institutions also sold on their bad debts as investments on the world market.... very, very dodgy stuff indeed.
It's not a matter of there being less money... it's a matter of it being less available due to tightening credit policies by financial institutions worldwide.
12 months ago in Australia mum and dad could get a loan for 105% of their house and land value to build. Most banks have tightened that to 85%.
Now apply that lending mentality to businesses and credit is tightened across the board... and may dry up completely for any business that looks risky to the banks.... suddenly that shaky business cannot continue to operate without credit... or in order to save it, management has to sack workers and cut back.
It sucks and it's hard. I remember the "recession we had to have". A lot of you probably don't. And I don't mean to sound like a know it all hard ass, but it won't do a lot of us any harm to have a taste of reality over the next few years.
The bubble had to burst. And when the good times start rolling again, and they will, they will be far sweeter for having known shitty times.
And all recession means is no economic growth for two successive quarters. It's not the end of the world kids.... but things are just a little different than they were six months ago.
This is a very, very simplistic explaination.
It was primarily created by the subprime loan market in the U.S. In simplistic terms, home loans were available to people that didn't normally qualify and in effect couldn't pay them back. And property prices in the U.S. were massively inflated.
The bottom falls out of the property market (it really just evened out), people's loans that they can't pay are sometimes for more than double what the property is actually worth, so the banks are holding assets that are actually worth billions less than the money borrowed against them and the loans cannot be repaid... hence financial institutions collapse, there's a tightening of credit worldwide and the flow on is now being felt by you and me. Some of these financial institutions also sold on their bad debts as investments on the world market.... very, very dodgy stuff indeed.
It's not a matter of there being less money... it's a matter of it being less available due to tightening credit policies by financial institutions worldwide.
12 months ago in Australia mum and dad could get a loan for 105% of their house and land value to build. Most banks have tightened that to 85%.
Now apply that lending mentality to businesses and credit is tightened across the board... and may dry up completely for any business that looks risky to the banks.... suddenly that shaky business cannot continue to operate without credit... or in order to save it, management has to sack workers and cut back.
It sucks and it's hard. I remember the "recession we had to have". A lot of you probably don't. And I don't mean to sound like a know it all hard ass, but it won't do a lot of us any harm to have a taste of reality over the next few years.
The bubble had to burst. And when the good times start rolling again, and they will, they will be far sweeter for having known shitty times.
And all recession means is no economic growth for two successive quarters. It's not the end of the world kids.... but things are just a little different than they were six months ago.
Last edited:
bulldog93
Well-Known Member
When it picks up again it could be in a couple of monthes(dout it) 2-3 years and most people will have lost there jobs by then could even be you, so what are people going to do to earn their money to put it back into Australian industries to get us out of this recession?? do you think it will get to the point of another deppresion (its bound to happen again sooner or later and for me it's more sooner then later)??? if so then what if happen???
this will be mine and many others first recession experience and me and alot of other people are thinking about leaving school after year10 and it will be hard to get apprentiships in which most people will go back to school then the schools will be over run with kids, D o you think they will fire teachers????
unit_mx
Well-Known Member
Yes , then the world will catch fire and we all will die.
Shit son , chin up. Haven't you seen the 'secret' , your attracting way toooooo many bad energies over here.
Ok, without going into a complicated explaination of economic principles, and again putting things in very simple terms....... when the economy is at a very low ebb, that's when those with money, (businessmen, investors) begin to smell opportunities and start to spend and buy up companies, start new ventures, etc...... and that slowly starts the ball rolling to recovery.
How do you think people get rich? They don't buy shares and property at the height of the boom.....
Bulldog.... get some perspective. You live in country with access to welfare. If worse comes to worse people can still access unemployment benefits and other help. You won't be confronted with civil war or living on the streets or being unable to eat. You may just have to cut back on how many PS3 games you buy and how often you mod your bike. I'm not being a smart ass, but you need to get some perspective.
Most people will not lose their jobs. Most is 70% or 80% unemployment. Not going to happen. I don't believe we'll see another Depression.... it's a different economic world now.
The reality is, the West has lived beyond it's means for too long. I always laugh when I see people "doing it tough" in the paper.... with a mortgage for a 45sq house, two 40k cars and 30k debt on the credit card.... they spend more than they can pay back and then whinge about how tough it is. Give me break.
Drive a couple of shittier cars. pay off your credit card and downsize your house.... then you won't be "struggling".
People, individuals, families, companies.... many have lived on credit for too long. A "correction" was always going to happen. This is it. And that's basic economics.
As for teachers.... that is one profession that gets pretty much protected during bad economic times.... kids stay at school longer.... more teachers' needed.
Ok, without going into a complicated explaination of economic principles, and again putting things in very simple terms....... when the economy is at a very low ebb, that's when those with money, (businessmen, investors) begin to smell opportunities and start to spend and buy up companies, start new ventures, etc...... and that slowly starts the ball rolling to recovery.
How do you think people get rich? They don't buy shares and property at the height of the boom.....
Bulldog.... get some perspective. You live in country with access to welfare. If worse comes to worse people can still access unemployment benefits and other help. You won't be confronted with civil war or living on the streets or being unable to eat. You may just have to cut back on how many PS3 games you buy and how often you mod your bike. I'm not being a smart ass, but you need to get some perspective.
Most people will not lose their jobs. Most is 70% or 80% unemployment. Not going to happen. I don't believe we'll see another Depression.... it's a different economic world now.
The reality is, the West has lived beyond it's means for too long. I always laugh when I see people "doing it tough" in the paper.... with a mortgage for a 45sq house, two 40k cars and 30k debt on the credit card.... they spend more than they can pay back and then whinge about how tough it is. Give me break.
Drive a couple of shittier cars. pay off your credit card and downsize your house.... then you won't be "struggling".
People, individuals, families, companies.... many have lived on credit for too long. A "correction" was always going to happen. This is it. And that's basic economics.
As for teachers.... that is one profession that gets pretty much protected during bad economic times.... kids stay at school longer.... more teachers' needed.
Tell that to the nearly 10,000 workers that have already lost their jobs. It could very well get a whole lot worse. Unemployment could creep up to the high 7% again and it does affect the lower income earners as much as anyone else. That's the thing, people think it's all to do with the credit crunch, it's the flow on effect it has on businesses that does the real damage. They panic and cut back, simple. Yeah it's harder to get a loan, but who needs a loan when you don't have a job?
I work for a mulit million dollar company and we will buy up a tonne of smaller companies collapsing under the crunch. That will help but it has to counter the endless amount of business's laying people off and downsizing because they are all in panic mode. This will take time. Who know's how long?
The funny thing is, our company will ONLY make 220 million, instead of 230 million which in the scale of things, isn't that much!!
And Bulldog, don't shit your pants reading this!! lol.
Danity
Well-Known Member
- Joined
- Dec 18, 2008
- Messages
- 229
- Reaction score
- 1
Ok, without going into a complicated explaination of economic principles, and again putting things in very simple terms....... when the economy is at a very low ebb, that's when those with money, (businessmen, investors) begin to smell opportunities and start to spend and buy up companies, start new ventures, etc...... and that slowly starts the ball rolling to recovery.
How do you think people get rich? They don't buy shares and property at the height of the boom.....
Bulldog.... get some perspective. You live in country with access to welfare. If worse comes to worse people can still access unemployment benefits and other help. You won't be confronted with civil war or living on the streets or being unable to eat. You may just have to cut back on how many PS3 games you buy and how often you mod your bike. I'm not being a smart ass, but you need to get some perspective.
Most people will not lose their jobs. Most is 70% or 80% unemployment. Not going to happen. I don't believe we'll see another Depression.... it's a different economic world now.
The reality is, the West has lived beyond it's means for too long. I always laugh when I see people "doing it tough" in the paper.... with a mortgage for a 45sq house, two 40k cars and 30k debt on the credit card.... they spend more than they can pay back and then whinge about how tough it is. Give me break.
Drive a couple of shittier cars. pay off your credit card and downsize your house.... then you won't be "struggling".
People, individuals, families, companies.... many have lived on credit for too long. A "correction" was always going to happen. This is it. And that's basic economics.
As for teachers.... that is one profession that gets pretty much protected during bad economic times.... kids stay at school longer.... more teachers' needed.
Hmm i think you pretty much hit the nail on the head with your 2 posts...Thx for the wise words of wisdom, Lol
bulldog93
Well-Known Member
ok i'm just trying to learn about all of this.
no i haven't.
Sorry for causing such a fuss.
Tell that to the nearly 10,000 workers that have already lost their jobs. It could very well get a whole lot worse. Unemployment could creep up to the high 7% again and it does affect the lower income earners as much as anyone else. That's the thing, people think it's all to do with the credit crunch, it's the flow on effect it has on businesses that does the real damage. They panic and cut back, simple. Yeah it's harder to get a loan, but who needs a loan when you don't have a job?
I work for a mulit million dollar company and we will buy up a tonne of smaller companies collapsing under the crunch. That will help but it has to counter the endless amount of business's laying people off and downsizing because they are all in panic mode. This will take time. Who know's how long?
The funny thing is, our company will ONLY make 220 million, instead of 230 million which in the scale of things, isn't that much!!
And Bulldog, don't shit your pants reading this!! lol.
Isn't that what I said in my first post?
How is it not to do with the credit crunch when that's the primary reason it's happening?
And you misunderstood why I mentioned home loans... I was simply using them as an analogy for the lack of access to credit for businesses.
Last edited:
coolmodee01
VCM B Grade 2013 Champion
dude my company has no debt i, even though i'm not making budget i'm still up on last year we are still in demand and will be in the deepest of depressions machines still need to run.
so as far as my job and my working life i'm lucky to say it wont change for me
couple of things skylar you couldn't get 105% finance ever from an Australian bank
that's a part of the reason none of our banks have gone bust that and the fact our property market is yet to take a big hit like America has
now there where lenders doing 100% fianance but most of the people that took up the offer lost there house's when the interest rates went up which is a semi prime lending thing but more from stupid people digging themselve's to far into debt with credit cards and leaseing and so on.
but your right in most of what you say people and company's that have debt are struggling to pay it because there debt is not making money it's loosing money so these people go broke particularly in business this is where my whole rant started.
Ok, without going into a complicated explaination of economic principles, and again putting things in very simple terms....... when the economy is at a very low ebb, that's when those with money, (businessmen, investors) begin to smell opportunities and start to spend and buy up companies, start new ventures, etc...... and that slowly starts the ball rolling to recovery.
How do you think people get rich? They don't buy shares and property at the height of the boom.....
Bulldog.... get some perspective. You live in country with access to welfare. If worse comes to worse people can still access unemployment benefits and other help. You won't be confronted with civil war or living on the streets or being unable to eat. You may just have to cut back on how many PS3 games you buy and how often you mod your bike. I'm not being a smart ass, but you need to get some perspective.
Most people will not lose their jobs. Most is 70% or 80% unemployment. Not going to happen. I don't believe we'll see another Depression.... it's a different economic world now.
The reality is, the West has lived beyond it's means for too long. I always laugh when I see people "doing it tough" in the paper.... with a mortgage for a 45sq house, two 40k cars and 30k debt on the credit card.... they spend more than they can pay back and then whinge about how tough it is. Give me break.
Drive a couple of shittier cars. pay off your credit card and downsize your house.... then you won't be "struggling".
People, individuals, families, companies.... many have lived on credit for too long. A "correction" was always going to happen. This is it. And that's basic economics.
As for teachers.... that is one profession that gets pretty much protected during bad economic times.... kids stay at school longer.... more teachers' needed.
um after the recession the rich mongrel business mogel's i ask you lady what are the going to invest in ???????
tell me please i'd really like to know corect me if i'm wrong but australia has no industry outside of mining! big statement but it's true we are an import nation so all investors are going to do is buy import business that dont manufacture here. so they prop up the chinese market again which boosts our mining industry great for them
but is the mining industry going to cater for the other 100,000 jobs lost from company's moving off shore i dont think so
imo if australia doest come up with product and a viable export industry in the next 10 years we will fall into a depression bringing us down to the level of a developed 3rd world country
god help us (this may be a worst case scenario but as you say what if)
Tell that to the nearly 10,000 workers that have already lost their jobs. It could very well get a whole lot worse. Unemployment could creep up to the high 7% again and it does affect the lower income earners as much as anyone else. That's the thing, people think it's all to do with the credit crunch, it's the flow on effect it has on businesses that does the real damage. They panic and cut back, simple. Yeah it's harder to get a loan, but who needs a loan when you don't have a job?
I work for a mulit million dollar company and we will buy up a tonne of smaller companies collapsing under the crunch. That will help but it has to counter the endless amount of business's laying people off and downsizing because they are all in panic mode. This will take time. Who know's how long?
The funny thing is, our company will ONLY make 220 million, instead of 230 million which in the scale of things, isn't that much!!
And Bulldog, don't shit your pants reading this!! lol.
so relating this economic so called recession back to our industry which is where this thread started
i'm not sure what industry you are in vert but your company obviosly see's benefit in taking over the struggling company's but do you think the like of freestyle honda or peter stevens taking over say mso if they go under i dont think so and well there goes the minibike scene (no not one company will do it)
but this is going to happen and unfortunately it will be to late for to many
i must be rambling beer o'clock i think
lets not forget all the people with money invested in super ...some have lost 60% almost overnight from supposedly triple A investments
Some of these people are not coming back from this ....and we still see the bonuses flowing to the greedy imbeciles that caused all this especially in the states ...seems they just can't get off the tit that's been feeding their lifestyle and greed
That's why I'm pissed ......I've seen good guys get hit HARD already .... and yeah I'll be cool ..... but I'm still pissed lots of others won't be
So yeah I blame the bankers greed .... as skylar said most of you are too young too remember the 80s .... but greed was good .... and encouraged .... and I believe this is where the problems began ...... now WE reap the whirlwind
So yeah I'm cool ...I saw the signs and sorted my affairs accordingly.....
but I would like to see more accountability and less bonus's for business written that
the village idiot knew would not fly in the real world
And I think it's more the media than the goverment scaring people into financial subbmission at this point ..... it sells papers .... nothin like a bit of doom and gloom
Some of these people are not coming back from this ....and we still see the bonuses flowing to the greedy imbeciles that caused all this especially in the states ...seems they just can't get off the tit that's been feeding their lifestyle and greed
That's why I'm pissed ......I've seen good guys get hit HARD already .... and yeah I'll be cool ..... but I'm still pissed lots of others won't be
So yeah I blame the bankers greed .... as skylar said most of you are too young too remember the 80s .... but greed was good .... and encouraged .... and I believe this is where the problems began ...... now WE reap the whirlwind
So yeah I'm cool ...I saw the signs and sorted my affairs accordingly
..... but I would like to see more accountability and less bonus's for business written that
the village idiot knew would not fly in the real world
And I think it's more the media than the goverment scaring people into financial subbmission at this point ..... it sells papers .... nothin like a bit of doom and gloom
coolie if I knew the answer of where to invest or what to start up I'd be the one getting rich. But the reality is there will be something. There always is.
After every ecomonic downturn there is often a changing of the guard so to speak at the top end of town. (not my end!)
Some of the former fat cats lose so big they never recover financially in times like this. Others evolve their business interests and remain big. But there is always the "new rich" as the cycle of economic recovery begins again.
And they are the ones that can see opportunites where the likes of us can see none.
But the reality is there will be something. There always is. After every ecomonic downturn there is often a changing of the guard so to speak at the top end of town. (not my end!)
Some of the former fat cats lose so big they never recover financially in times like this. Others evolve their business interests and remain big. But there is always the "new rich" as the cycle of economic recovery begins again.
And they are the ones that can see opportunites where the likes of us can see none.
coolmodee01
VCM B Grade 2013 Champion
skylar
when the depression hit last time the people that had work and owned companies bought australia back to prosperity
so export things like wheat rice and dairy where strong and in demand from other countries now we dont have this we will soon not have enough for ourselves
company's like ford holden and company's that supported them picked up dramatically we no longer have this in australia some will survive but to feed a few
corporate will be ok they run the import and make money of our necessities
it's pretty grim outlook but rumor is fact
i'd like to think that we can find new and sustainable industry but where, while it's cheaper to send our stuff to china to have it made and sent back to us them we are doomed to be broke and jobless
when the depression hit last time the people that had work and owned companies bought australia back to prosperity
so export things like wheat rice and dairy where strong and in demand from other countries now we dont have this we will soon not have enough for ourselves
company's like ford holden and company's that supported them picked up dramatically we no longer have this in australia some will survive but to feed a few
corporate will be ok they run the import and make money of our necessities
it's pretty grim outlook but rumor is fact
i'd like to think that we can find new and sustainable industry but where, while it's cheaper to send our stuff to china to have it made and sent back to us them we are doomed to be broke and jobless
My advice ??? buy gold Cooly ....it's faaaar from peaking yet .... some inside the industry are predicting 1,500 to 2,000 an oz in the next few years and it's easily the most stable commodity at times like this
Thing is ....the worse and more unstable things get the stronger it gets .... so sure I might make a few bucks and some might say this is a little hippocritical considering my views on this fiasco ... but if I wanted to be a prick I'd buy a bottleshop ...that WILL be a money spinner for a while
Thing is ....the worse and more unstable things get the stronger it gets .... so sure I might make a few bucks and some might say this is a little hippocritical considering my views on this fiasco ... but if I wanted to be a prick I'd buy a bottleshop ...that WILL be a money spinner for a while
Last edited:
i agree 100% with what someone said earlier - the media is just freaking everyone out, making out that we're all going to end up on the streets if we spend our money, however the only way out of this is by spending money from what i understand?
i personaly hate the media, they happily make a bad situation worse just for some higher ratings...
anyways i already lost my job and i have f**k all money as it is, so luckily for me theres not much else that i have to lose except for my clothes and my car...
ahhhh the joys of being a uni student..
cool - 'rumor is fact', thats possibly the silliest thing ive ever seen you say ahahaha no offence man
also whoever mentioned 'the secret' earlier, your onto a good thing - that stuff seems to work for me
i personaly hate the media, they happily make a bad situation worse just for some higher ratings...
anyways i already lost my job and i have f**k all money as it is, so luckily for me theres not much else that i have to lose except for my clothes and my car...
ahhhh the joys of being a uni student..
cool - 'rumor is fact', thats possibly the silliest thing ive ever seen you say ahahaha
no offence man also whoever mentioned 'the secret' earlier, your onto a good thing - that stuff seems to work for me
The secret ?? how's that goin for ya with no job or coin ?? .... sorry bit harsh
positive visualization is not new ... it's a form of meditation .... has been for thousands of years ... do some research on meditation and you'll see the secret is just a modern rehash of a very old methods indeed ..... however the goal is personal progression as opposed to material gain
A old guy I have alot of respect for told me a secret ..... he told me the sytem was gunna crash and convinced me to put some of my savings into gold when it was a little over 600 an oz ....
Now there's a secret
positive visualization is not new ... it's a form of meditation .... has been for thousands of years ... do some research on meditation and you'll see the secret is just a modern rehash of a very old methods indeed ..... however the goal is personal progression as opposed to material gain
A old guy I have alot of respect for told me a secret ..... he told me the sytem was gunna crash and convinced me to put some of my savings into gold when it was a little over 600 an oz ....
Now there's a secret
