By: m.tivey
30/06/2009
6:53 am Yahoo! Profile:
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How much longer before the world wakes up to the fact that, on SO many fronts, consumer-driven capitalism is an abject, un-sustainable failure?
We need to stop throwing money around in an attempt to fix a system that is, was, and always will be fatally flawed.
Stop trying to flog a dead horse, get a new one. |
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By: pansi1951
30/06/2009
8:01 am Yahoo! Profile:
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<Stop trying to flog a dead horse, get a new one.>
......................... ......................... ....
Now come on tivey, this is the problem, we don't need a new one, how about a good second hand one? |
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By: codswal
30/06/2009
10:28 am Yahoo! Profile:
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Stop trying to flog a dead horse, get a new one.
xxxxxxx
tivey havent you got it yet....its the same horse different name..its called pulling the wool over the sheeps eyes..every time they change the name we think they are doing something, I cant remember how many names our garbage collectors have had... its a joke..just about every new issue of the yellow pages I think...yet its still a garbage collection agency..
its time we woke up to the fact..the Govt has opened a gate... a money gate...we have nowhere else to go and why should we... looking at Ozcars.. its all about borrowed money. our money if these guys go down.attitude oh well theres more where that came from..
the govt is becoming one great big Money Lender.whos next to want to have govt backing???..
not only are we accumalating a debt problem..we are accumalating a behavioural problem. easy come, easy go! |
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By: casino_royale44r
30/06/2009
10:33 am Yahoo! Profile:
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disgusting
the govt is becoming one great big Money Lender just look rudd gives "single age pensioners" an increase.whos next to want to have govt backing???.. |
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By: perceptions_now
30/06/2009
12:16 pm Yahoo! Profile:
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"The banks must resume lending, but they must also adjust by becoming smaller, simpler and safer."
"Again, even where they have been essential, the government rescue packages implemented so far appear to be hindering rather than aiding this needed adjustment."
"Officials must insist that institutions be comprehensible both to those who run them and to those who regulate and supervise them. And, in the future, a financial firm that is too big or too interconnected to fail must be too big to exist."
"Fiscal deficits can drive up inflation expectations as well."
"There is another route through which fiscal stimulus programmes could raise long-term nominal interest rates. As noted in Chapter VI, extended real stagnation could undermine the credibility of fiscal policies to facilitate recovery. Persistent low growth could lead to a consensus that government deficits will remain large for years to come."
"It is fair to say that central bankers are operating well outside their comfort zone. Their unprecedented rate cutting and balance sheet expansion (see Chapter VI for details) pose a myriad of economic risks. On the one hand, their actions may be insufficient to put the economy on the path to recovery; and on the other, central banks may find it difficult to unwind their actions in time to prevent inflation from rising as growth and employment recover."
"But the timing and politics of unwinding are likely to be difficult."
Link to BIS Annual Report 2008/2009 -
http://www.bis.org/publ/arpdf/ar2009e.htm
The emphasis given in The Australian & Bloomberg, is interesting?
Link to The australian Article -
http://www.theaustralian.news.com.au/story/0,25197 ,25710566-601,00.html
Link to Bloomberg Article -
http://www.bloomberg.com/apps/news?pid=20601068&si d=aOnSy9jXFKaY |
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By: perceptions_now
30/06/2009
12:25 pm Yahoo! Profile:
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It seems Bloomberg changed, their link is now -
http://www.bloomberg.com/apps/news?pid=20601068&si d=aOnSy9jXFKaY |
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By: perceptions_now
30/06/2009
12:38 pm Yahoo! Profile:
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"The banks must resume lending, but they must also adjust by becoming smaller, simpler and safer."
"Again, even where they have been essential, the government rescue packages implemented so far appear to be hindering rather than aiding this needed adjustment."
"Officials must insist that institutions be comprehensible both to those who run them and to those who regulate and supervise them. And, in the future, a financial firm that is too big or too interconnected to fail must be too big to exist."
"Fiscal deficits can drive up inflation expectations as well."
"There is another route through which fiscal stimulus programmes could raise long-term nominal interest rates. As noted in Chapter VI, extended real stagnation could undermine the credibility of fiscal policies to facilitate recovery. Persistent low growth could lead to a consensus that government deficits will remain large for years to come."
"It is fair to say that central bankers are operating well outside their comfort zone. Their unprecedented rate cutting and balance sheet expansion (see Chapter VI for details) pose a myriad of economic risks. On the one hand, their actions may be insufficient to put the economy on the path to recovery; and on the other, central banks may find it difficult to unwind their actions in time to prevent inflation from rising as growth and employment recover."
"But the timing and politics of unwinding are likely to be difficult."
Link to BIS Annual Report 2008/2009 -
http://www.bis.org/publ/arpdf/ar2009e.htm
The emphasis given in The Australian & Bloomberg, is interesting?
Link to The australian Article -
http://www.theaustralian.news.com.au/story/0,25197 ,25710566-601,00.html
Link to Bloomberg Article -
http://www.bloomberg.com/apps/news?pid=20601068&si d=aOnSy9jXFKaY |
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By: perceptions_now
30/06/2009
7:50 pm Yahoo! Profile:
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U.K. First-Quarter GDP Drops 2.4%, Most Since 1958
June 30 (Bloomberg) -- The U.K. economy shrank more than previously estimated in the first quarter in the biggest contraction since 1958 as the recession choked industries from construction to services.
Gross domestic product fell 2.4 percent from the final three months of 2008, compared with the prior measurement of a 1.9 percent drop, the Office for National Statistics said today in London. The median prediction in a Bloomberg survey of 28 economists was for a 2.1 percent decline. Construction activity plunged almost three times as much as originally estimated.
Bank of England Governor Mervyn King said last week that Britain's recovery from recession may turn out to be "a long, hard slog."
Bloomberg link -
http://www.bloomberg.com/apps/news?pid=20601087&si d=aFWcEQBUXiMY |
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By: perceptions_now
30/06/2009
10:30 pm Yahoo! Profile:
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Waiting for Madoff, Angry Crowd Is Disappointed
Link -
http://www.nytimes.com/2009/06/30/business/30scene .html?hp
For Madoff to still be the only person charged, let alone convicted, is an indictment on the system itself! |
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By: andreihicks
30/06/2009
10:32 pm Yahoo! Profile:
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| Lack of regulatory control and a segregation of duties control issue as well. |
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By: perceptions_now
30/06/2009
10:38 pm Yahoo! Profile:
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Home Prices in Major U.S. Cities Probably Fell on Foreclosures
Declines in home values and stock prices destroyed a record $13.9 trillion in household wealth since late 2007, according to figures from the Federal Reserve.
Bloomberg link -
http://www.bloomberg.com/apps/news?pid=20601087&si d=a2nf7aLQq7_4
$13.9 trillion, that is over a year of US GDP!
Think about it, how would it affect OZ, if we took AUD $1Trillion out of the OZ GDP, over 18 months? |
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By: perceptions_now
30/06/2009
10:41 pm Yahoo! Profile:
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"Lack of regulatory control and a segregation of duties control issue as well."
Andrei,
Yes, but you know how the system works, it had to go further than that! |
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By: perceptions_now
1/07/2009
4:03 pm Yahoo! Profile:
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Fed's Yellen Says Interest Rates May Stay Near Zero for Years
July 1 (Bloomberg) -- Federal Reserve Bank of San Francisco President Janet Yellen said the prospect that policy makers will leave the benchmark U.S. interest rate near zero for the next several years is "not outside the realm of possibility."
"We have a very serious recession, we have a 9.4 percent unemployment rate," and inflation possibly falling over time below the Fed's preferred level, she told reporters yesterday after a speech to the Commonwealth Club of California in San Francisco.
Given the recessionâs severity, "we should want to do more. If we were not at zero, we would be lowering the funds rate."
Yellen's comments go beyond those made by other policy makers after a June 23-24 meeting, when they said the federal funds rate will likely stay at "exceptionally low levels" for "an extended period."
The Fed "did succeed in averting a full-blown meltdown," Yellen said in the speech. Nevertheless, the threat of another financial shock, such as one from falling commercial real-estate prices, is "high on my worry list."
"Right now, we're like a patient in intensive care whose condition has stabilized and whose fever is just starting to come down," Yellen said in the speech.
Bloomberg link -
http://www.bloomberg.com/apps/news?pid=20601087&si d=aoQtYnu9Q5Ck |
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By: perceptions_now
1/07/2009
11:56 pm Yahoo! Profile:
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Banks Falling 23% Since May Foreshadow S&P 500 Slump
July 1 (Bloomberg) -- Declines of more than 20 percent in regional banks and homebuilders and the failure of transportation companies to erase their annual loss may be signs the rally in the Standard & Poor's 500 Index is about to fizzle.
"This has been a government-induced rally," said Jordan Irving, who helps manage more than $110 billion at Delaware Investments in Philadelphia. "We need to see some real positives coming from internal demand, as opposed to government- related demand, and itâs just not there."
Link -
http://www.bloomberg.com/apps/news?pid=20601087&si d=aCmsKKqx_Xq0 |
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By: perceptions_now
2/07/2009
12:01 am Yahoo! Profile:
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Feldstein Sees Renewed Economic Slump After 'Temporary' Rebound
July 1 (Bloomberg) -- The U.S. economy will grow for a few quarters and then contract again, said Martin Feldstein, a professor of economics at Harvard University.
"I think were going to see a temporary substantial improvement," Feldstein, the former head of the National Bureau of Economic Research and Reagan administration adviser, said today in an interview on Bloomberg Radio. "I emphasize the words temporary and substantial."
After the economy shrank at a 5.5 percent annual pace in the first quarter of the year, the change in gross domestic product will be "closer to zero" or "even a small plus" for the April-to-June period, Feldstein said.
"We'll get a bounce for a few quarters and then it will fade out," Feldstein said. "Weâre now going through the getting better phase for a while."
Link -
http://www.bloomberg.com/apps/news?pid=20601087&si d=a45VEPWlED5w |
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By: perceptions_now
2/07/2009
3:01 pm Yahoo! Profile:
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China FDI Faces Unprecedented Difficulties on Crisis
July 2 (Bloomberg) -- Foreign direct investment in China faces "unprecedented difficulties" as the global crisis cuts multinationals' spending, Vice Commerce Minister Chen Jian said.
China's direct investment abroad also fell in the first half of this year, the official said, adding that the government would use fiscal, financial, foreign-exchange and insurance polices to encourage gains.
http://au.messages.yahoo.com/news/politics/511311/ ?a=compose |
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By: mareei_700
2/07/2009
3:04 pm |
Message deleted. |
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By: andreihicks
2/07/2009
3:05 pm Yahoo! Profile:
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| How many times must I tell you bigot has one g. |
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By: vegitamite97
2/07/2009
3:14 pm Yahoo! Profile:
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| hope that comment wasnt aimed at perceptions maree ? |
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By: perceptions_now
2/07/2009
3:20 pm Yahoo! Profile:
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"Your just a pathetic racist biggot saying ridiculous statements like that! Grow up!
What statement???? |
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By: mareei_700
2/07/2009
3:35 pm |
Message deleted. |
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By: pansi1951
2/07/2009
3:41 pm Yahoo! Profile:
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<Your all a pack of stupid racist scum>
......................... ..................
maree....could you copy and paste the comment you are referring to please, so that we can comment yay or nay. |
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By: perceptions_now
2/07/2009
4:06 pm Yahoo! Profile:
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"maree....could you copy and paste the comment you are referring to please, so that we can comment yay or nay."
Yes, then we may have some idea what you are talking about? |
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By: andreihicks
2/07/2009
4:07 pm Yahoo! Profile:
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| I have been offended by your out and out racism for some time actually. |
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By: lkarnd99
2/07/2009
5:14 pm Yahoo! Profile:
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Think about it, how would it affect OZ, if we took AUD $1Trillion out of the OZ GDP, over 18 months?
<< perceptions >>
========
What the economic crisis has done has made it easier for us to accept what would normally be frightening terms.......
Let take another look at what is a trillion dollars....
A stack of one trillion one-dollar bills would reach 68,000 miles in space.
If you spent $1 million dollars a day from the day Jesus was born until now, you would only have spent about three quarters of a trillion.
If you laid one trillion one-dollar bills end to end, it would make a chain from the earth to the moon 200 times.
One trillion dollars would stretch nearly from the earth to the sun.
It would take a jet flying at the speed of sound, reeling out a roll of dollar bills behind it, four years before it reeled out one trillion dollar bills.
A million seconds is 11.5 days. A billion seconds is 32 years. A trillion seconds is 32,000 years.
Now how many trillion dollars is the U.S. in debt? |
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