Global financial crisis - what does it mean to you

[crash n bern]

When the crap happened in Egypt I heard on the news that oil would go up to $80 odd a barrel.  The first major hike since it went from $70 to $150 a barrel a few years ago.  I thought hang on it went to $150 a barrel and we had a major fuel hike.  Then it had dropped back to under $80 a barrel.  How come fuel didn't drop back to 70 cents per litre?

[montynut]

It gave our useless, incompetent, lying, mindless, stupid, socialist, inept, misguided and completely hopeless current Federal Government an excuse to spend every red cent the country had plus most of the next 10 – 15yrs income as well, on the biggest raft of ill-conceived, mismanaged, wasteful and sometimes deadly programs ever imposed upon the Australian population who were expecting far better from their democratically elected Government. The Dudd and Dullard show OMG please let it end soon :'(

All in two sentences deliberately so you to can be breathless

I totally agree with Monty but the problem is will get the totally useless, incompetent, lying, mindless, stupid, get-rich-at-our-expense, inept, misguided and completely hopeless current Liberal opposition.

 

I note you are comfortable with Socialist 

[mx250]

It gave our useless, incompetent, lying, mindless, stupid, socialist, inept, misguided and completely hopeless current Federal Government an excuse to spend every red cent the country had plus most of the next 10 – 15yrs income as well, on the biggest raft of ill-conceived, mismanaged, wasteful and sometimes deadly programs ever imposed upon the Australian population who were expecting far better from their democratically elected Government. The Dudd and Dullard show OMG please let it end soon :'(

All in two sentences deliberately so you to can be breathless

I totally agree with Monty but the problem is will get the totally useless, incompetent, lying, mindless, stupid, get-rich-at-our-expense, inept, misguided and completely hopeless current Liberal opposition.

 

I note you are comfortable with Socialist 

Name your poison - they are both poison  

Australia's political assets are at zero, both sides are woeful. But that's the product of the 'distilling' process  :'(.

[Marc.com]

This pattern has happened before in 1976-80 where you have a couple of oil shocks triggering double dip recession, I think the real recession comes next. " the creation of wealth without a corresponding increase in economic output is done at a nations peril", Adam Smith.

[Davey Crocket]

Monynut, you have a way with words...and I agree 100%.....they might have had some money left in the kitty to help pay for all the carnage thats happened in the last few months and help AUSTRALIAN's in stead of dishing it out to all this foreign shit......

[Marc.com]

Monynut, you have a way with words...and I agree 100%.....they might have had some money left in the kitty to help pay for all the carnage thats happened in the last few months and help AUSTRALIAN's in stead of dishing it out to all this foreign shit......
[/quote

I think a few Australians could help themselves a little harder. Foreign aid is what we do for the same reason as fixing the carnage in Australia, you are extending a helping hand to your neighbors and doing things for the general good.

[EML]

This pattern has happened before in 1976-80 where you have a couple of oil shocks triggering double dip recession, I think the real recession comes next. " the creation of wealth without a corresponding increase in economic output is done at a nations peril", Adam Smith.

So it was 76-80 oil shocks that caused the double dip recession---here I was blaming foward slant Konis on a poorly set up MX250 that sent me over the bars

[Freakshow]

like all stars in the sky some burn brighter than others, some just have a fuzzy glow, some are talked about but can never be seen and other just drop from view and only can be seen ever few years.

YOu just have to believe there out there Alison

[VMX247]

Well we didnt get sucked into a finaicial debt vortex....
but I'm seeing the non spending happening across all aspects of life here in the down under.!!
cheers

[motomaniac]

Well we didnt get sucked into a finaicial debt vortex....
but I'm seeing the non spending happening across all aspects of life here in the down under.!!
cheers

Yes we did , we did everything that they did( except for QE 2)  but on a smaller scale .We are on the hook to the banksters same as them ,just not as much. Household debt is more than them though!!!

[motomaniac]

All they did , is made more room for the bubble and people with long shoes .  

Whyyou laughing Wasp? Its going hit everyone sometime ,not you?

[Mike52]

For a while now I've been watching the business I work for slowly go under .
It's not a dramatic thing just a slow slow death.
Manager said today " first person to put their hand up gets a holiday".
This is not some fly by night mob , they have been going for 30 years.
Bummer.

[Marc.com]

For a while now I've been watching the business I work for slowly go under .
It's not a dramatic thing just a slow slow death.

The US Federal Government took on the debts of the private sector which sunk it, the Australian Government is yet and probably unlikely to be forced into this position due to Australian Banks low risk exposure and relatively responsible governance. The performance of the Australian Banking Service Indusries probably had more to do with keeping Australia out fo the shit during the GFC than the resource industry.

But with GFC II just round the corner I think the Australian households are in for a rough ride.

[mx250]

The US Federal Government took on the debts of the private sector which sunk it, ...........

American Corporate Welfare; 'too big to be allowed to fail' .  All true but still done in a context of incredible Federal US debt.

The performance of the Australian Banking Service Indusries probably had more to do with keeping Australia out fo the shit during the GFC than the resource industry.

 All true but still done in a context of Federal Australian surplus.

But with GFC II just round the corner I think the Australian households are in for a rough ride.

All true but this time it will be done in a context of increased Federal Australian debt (And most other Govt's around the World - in other words all govt's will be in a worst positions to stimulate their economies by borrowings).

And lets not forget the Australian State governments and local government are up to the necks in debt to varying degrees.

[pancho]

 Like I said before I think the US$ is based on bulls*hit and its a problem that most international trade is based on it. Maybe we all should go back on the gold standard. Look at the worth of the  US$ vs the gold price, halved in how many months?
cheers