I am interested to know what some of you think about the global economy, and the state of individual countries economies. For instance, in the United States, although the leadership are constantly saying how well the economy is doing, those of us who actually live here know that to be very untrue. What are your thoughts regarding this? What do you think the future holds?

Do you mean to say that in the current situation, with the US dollar falling, your leaders are still saying that all is well? As in there is no issue at all?

48 uk pence to the US dollar. It says it all really.

Yes. Our president, or as I call him, El Presidente' continues to say that our economy is strong. All our countries economies are tied together so if one falls, so will they all.

48 uk pence to the US dollar. It says it all really.

There was a time when "half a dollar" was the nickname for a UK coin that was equivalent to 12.5p (the old two shillings and sixpence coin).  We could now update that by nicknaming the 50pence coin as "half a dollar"

50 pence would be a whole dollar...

Here is my honest opinion summed up:

Can you hear that gurgling-flowing water sound? That is the sound of the US economy being flushed (down the gutter) with all the success the boys on The Hill, on The Street and on The Avenue tell us about.

Can you hear that hollow tone? It's the sound of global laughter as America realises that when it sneezes the rest of us no longer catch cold, but now hand out the Kleenex.

We are not going down to the basement with Wall Street this time - because the money moved to Europe and the Far East.
 

Would rather the US did not go down the gurgler but were it to take a bath, do hope you're proved right John Robie.

Personally I would rather the US economy remain strong. I thought the sub-prime problem could be ridden out, but it's become slow ans creeping and for that, an insidious economic and fiscal cancer.

Looks like it got a whole lot worse....

Australian shares plunge

Looks like the same is happening everywhere else

@Dekrazee1

Yes. Besides such mind numbingly stupid statements as 'Bring it on' (while I watch from the White House) and 'Saddam is seeking Nigerian Yellowcake' and 'History will be my judge' etc. etc. even their government lackeys in charge of finance still say things are just humming along. Strangely the media is parroting this same crap with the usual argument that they have to spew the lies or Americans will succumb to a lack of self confidence. Bush et al couldn't think their way out of a paper sack if it were to save the world, yet their deviously clever hijynks know no bounds when it comes to lining their coffers with gold, keeping public information secret and keeping their 'friends' wealthy.
 

So is this just an adjustment or are we headed down?

Have to see how US goes after a day off.

Depends if the Chinese get scared

What % of the Chinese economy is dependent on foreign markets?

 

Will it dampen their growth or actually cause negative growth if they pull in the reigns?

From the outside, it looks like an attempt to protect a very fragile ego, omdesign. It's all very strange to me

no, if they get scared about the US securities they hold and try to sell off Dollar bound assets for a loss, other holders will freak out and it will be a mad rush to dump dollars any way they can.

With the incongruous reduction of the lending rate (another attempt to empty the sea of debt with a teaspoon) there is just hope now that people will forget how many dollars have been printed out of thin air in the past five years. The Dollar has been worthless for a while now and everyone is just catching on.

The dollar has been worthless for a while now? Do you mean since about August, when for example the AU$ caught up with it?

Yes that and since they stopped reporting how many dollars the treasury is printing.

It seems odd from the perspective of anyone who would expect these people to try any common sense solutions, but their lies and heinous actions speak of a really mean streak with malicious intent, doing/saying anything to get and keep power. These folks have been perfecting the process since WW2.
 

Don't disagree with you there...

Some would argue way before WW2 but the really obvious and recorded history is all there to see. Just look at their  words and how often their actions and the result are exactly opposite of what they told the world they wanted. Exact opposite.. as in 'with surgical precision'.

Yeah... yet they still get away with it?

Part of a class of people that think we can't handle the truth or our own power... their day is coming. Proof in the pudding is that Bush jr. is the 'best' they could come up with. Lying, average student, war coward, coke and alcohol abuser who is incapable of dealing with anything like a crisis. Listens to mean people who couldn't care less about the fate of the world. Surely, their day is coming...

You're implying that they're above the 'democratic' process that the US keeps preaching to the rest of the world?

They have a long history of flouting all laws and murdering their opponents. The 'Halls of Power' revolve around media control and oil prices. If policy is formed by the reports of an agency that they can manipulate, then where is the democracy? The terrorism lie has been an excuse to do so much damage to real democracy it is hard to conceive of. To put it all in terms that are relevant.. people here saw that 'little weasel' johnny howard was behind dubya, and assumed the whole of Australia wanted to go kill Iraqi's and if a large group of politically white reasonable folk wanted to do it, then we 'obviously' had global support. It is never mentioned that everywhere dubya goes Millions of citizens walk into town protesting his mere presence and the story if it does show protesters is quickly followed by a story about a dog that had ten or twelve puppies! Amazing! 12 puppies.. aren't they Cute! Awww...

I wish we had something like an official 'shadow government' given equal time to rebutt the junk coming from these people or calling them to task when they break the law. Instead we have a constant yammering about terror and being strong, finishing the mission now that we're in it, and no stateside attacks means we are doing something right. sickness. It just can't last. sorry to open this can of worms here, but it really is pathetic and beyond civilian control at this point.
 

The 'shadow govt' you talk about and the job it should do - that's supposed to be the 'free press's' job

At least they are given an equal time public forum after every appearance of the PM. Independent media here just can't reach the same number of markets that the biggies here can now that FCC rules were 'bent' allowing them broader market coverage even in the face of MASSIVE public outcry and even board members resigning in protest.

It is all so outrageous people just can't believe it is possible. What they do is only legal under the most twisted interpretation of the constitution along the lines of "well it doesn't say we can't do 'd' 'e' and 'f'  " so it must be ok, even though it is explicitly stated that you can only do 'a' 'b' and 'c'.

The pound is most superior to the Dollar and the Euro.

There was a video clip I saw somewhere, one of the presidential candidates (I think the seeming internet-favourite Ron Paul) saying how the rises in oil prices are at least in part to do with the devaluation of the dollar. In USD, oil prices have gone way up. In Pounds/Euros, less so but still quite a rise. Compared to the price of gold... not that massive of a rise.

easily part of a big hoax. yes,if the dollar does better, then it will cost less dollars, but the oil price is up 300% while the dollar is down 50%. If that hypothesis is true then the dollar should 'catch up with' the price of oil and be 3% of it's starting value. Which some say isn't far off. Bank of Iran planning started years ago, going to a gold backed currency.

And the economy continues to decline, like the chaos in a toilet bowl. JP Morgan Chase is acquiring Bear Stearns and the Fed is involved. All the economies are tied together, and what happens in one will affect another.

So what do we do? Just brace for impact?

Recession is here, economist declares

I finally know what step 2 in the underpants gnomes' plan is!

Step 1: Steal underpants

Step 2: Wait for global economy crash, exchange underpants for currency when they're at their most costly (in terms of numbers of dollars per underpants) then wait for value of the dollar to recover.

Step 3: Profit

A ha!

So, what is it I should steal in readiness?

Iunno... gold?

*starts digging out chips from old electronics*

According to the prima donnas at the finance houses we're all in deep shit.  However, the majority of them are still making reasonable profits and a lot of regular business appear to be doing well despite the ups and downs of the stock markets.  I think it's time to begin realigning international markets to tangible things like goods rather than the whims of the so-called finance wizzards...

All the (so called) experts have plenty to say about the economy, but few of them agree about what will (or should) happen.

The only thing these experts agree on, seems to be "We dont know how long it will last, only time will tell". Well none of us need any qualifications to be clever in hindsight, do we??

Couldn't agree more.  Even I'm a creditable financial expert using hindsight...

*puts hand up*

can I be a credible expert too?

Please?

With the benefit of hindsight I can "predict" every twist and turn of the markets for the past decade. Clearly I am the most credible of credible experts

Finally here's a proper synopsis about what's going on. It's got two experts too!

the comic duo you can count on (video)

Aaww.. I came here on the notion that someone had made a new post, but alas, it was deleted.... So, to keep others excited, and to avoid severe disappointment I decided to add my two cents worth!! YAY

LOL!

@AD

"I think it's time to begin realigning international markets to tangible things like goods rather than the whims of the so-called finance wizzards..."

Ain't gonna happen. It's all driven by economic rationalism, and that simply means "demand" and we"demand" better returns on our homes and pension plans, not better returns on the farmers' investment in sheep or wheat, y'know "tangible" things. That's the current demand of the market and that's what the market is following. If we wanted better returns on staples and "tangibles", in the current environment of excessive wealth, farmers would be pissing gold.

Collectively we are the market and the market wants pensions and homes to be worth a bit. Why? Because the demographic of the market is....(see next paragraph)

The question you should ask yourself: do you care more about the price of bread or the value of your pension? I don't know about you personally...*pause*....

Welcome to the world of the ageing boomer demographic... the majority of the  western wealthy are concerned with their pensions and homes (and second country homes, were they have them) and not the farmer who grows the "tangible"s up the road from their week-end retreat, no matter the hand wringing. So much for their 1960's idealism, that we GenX-ers are now paying for in spades, even IF we have any sort of foot on the ladder,

And the Y are right royally....when they get here.

Oh and friends, please stop with all the class ridden political fuck-wittery, it' simply the market, for which we all may take our, very fair, share of the blame. Unless...you only own a car...Oh hang on....Or perhaps you only own one nice thing like a cool stereo or...Just a computer with broad band access...Oh han...Oh fuck off !!

Hypocrites.

Bitch all you want but...

You want this stuff!!

Am I really to believe that when it comes to The Green mantra "Think Globally, Act Locally" it doesn't apply to anything else?

Or does your own small contributory willingness to pay stupid money for a house not impact the market in some way?

Oh, and welcome back me

John Robie is a Wanker!

or something like that...