[kj] OT: Financial armageddon

Brendan bq at soundgardener.co.nz
Sun Sep 7 01:05:56 EDT 2008


Yeah death by a thousand cuts is what some have said...long drawn out
deflation / de-levereging of various bubbles. Huge amounts of wealth in
the real estate and commodities markets in particular have been lost and
it's not getting any better. Many equities markets are down 20% since
their peaks last year. That's not hugely unusual over time, but it's still
going, other markets are performing very poorly, and inflation and
unemployment are rising pretty quickly, and it seems to have a long way to
go yet. Depends on who you listen to.


>

> We are at the beginnings of a big recession, seems like that its

> worldwide as well .

> The American mortgage markets collapse seems to be the cause of the World

> recession .

> Prices of necessary commodities are rising in the U.K and bills are going

> up and wages are not rising to match these price increases.

> People therefore have higher living expenses and therefore they have

> less money to spend , so they cut back on unnecessary expenses, like

> coffees from coffee shops and such things , so the services industry

> sees a fall in income and cuts back on its staff .

> The building industry has collapsed in the U.K. and that is always the

> first industry to go, the other industries follow .

> Tighten your belts everyone.....this is going to be a long one

>

>

>

>

>> Date: Sat, 6 Sep 2008 19:05:32 +1200> From: bq at soundgardener.co.nz> To:

>> gathering at misera.net> Subject: [kj] OT: Financial armageddon> >

>> Surprisingly apocalyptic attitude from a mainstream site. Bit technical>

>> but that's the field I suppose. Was forwarded this by my old boss at

>> the> bank in NZ. He seems very canny in terms of knowing what's going

>> on. Sold> his house just before the $hit hit the fan over here, exactly

>> on the peak> actually. Warned me than of what was coming, told me to put

>> everything I> have in cash. According to some the worst has passed.> >

>> According to others it hasn't really started...> >

>> http://www.marketoracle.co.uk/Article6048.html> > > > > > > >

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