Economic Storm coming :)

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Fieldy

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South Africa.
Please take a look at my most recent blog post for some rather bad news coming out of the UK.

Some of the highlights.

Ministers bury £32bn tax crisis as recess starts | Times Online
Flow of tax cash into Treasury drops by £32bn | Telegraph
Fiscal ruin of the Western world beckons | Telegraph
Labour under pressure as borrowing rises £13bn | Telegraph
Recession forces a million to work part-time | Telegraph

Cheers for King Henry -- world's greatest nudger | MarketWatch
Goldman and JPMorgan — The Two Winners When The Rest of America is Losing | TalkingPointsMemos
TWENTY-FOUR TRILLION DOLLARS?! to fix US economy | Market-Ticker

And many many more :)
 
"Thought we had just weathered the economic storm and were coming out of it?"

Nope. 2010 is going to be a year to remember. Not in a good way.

And while I'm certainly not agreeing with fieldy's...er...world domination theories, I urge those who disagree with them to simply read and think about them, follow them through to conclusion. And then you will discover that there is most certainly a major benefit for someone. And where there's a benefit, there's a will. And where there's a will...there's a way.
 
Haha...
OK EttieneK :)

I'm not saying I agree with all of those opinions, but they have to be taken seriously because they are being published on well recognized institutions like MarketWatch and TalkingPointsMemo, Not to mention Times and Telegraph.

Anyway, I believe South Africa has weathered the storm pretty well so far and the South African Government that has been in charge of our economy the last 10 years has done a pretty good job thus far. Trevor Manuel!
 
'Pretty good job' - you're obviously joking. Your country has a account deficit higher then the statue of Liberty, the official jobless figure is too high to mention and the worst of all - recession, which come totally unpredicted. That much about the 'cleverness' of your financial leaders, especially T. Manuel. Actually, the 'government financial experts' in your country, where so consistent at predicting wrong market direction, some oversee investors made a profit by doing the opposite :D . If there is a country which can say 'So far so good', I put my money on Australia. Ok ok Norway too I know. All the others are suffering quite a bit. I believe, for 3th world countries (yearly per capita GDP below 10000USD) the worst is still to come. And that includes South Africa.
 
Australia doing well? Are you sure?

Last time I heard they were suffering from severe deflation with housing already having lost 30% of value in most regions. I believe Australia is not doing as great as you point out.

South Africa's rating being upgraded recently is a good sign that our economy is doing better than most through this crisis, however we do have the world cup coming next year so that does count quite heavily in our favour with all the jobs created in preparation.

Anyway, Everyone has got an opinion these days and only time will tell who is right. :)
 
Fieldy said:
Australia doing well? Are you sure?

Last time I heard they were suffering from severe deflation with housing already having lost 30% of value in most regions. I believe Australia is not doing as great as you point out.

South Africa's rating being upgraded recently is a good sign that our economy is doing better than most through this crisis, however we do have the world cup coming next year so that does count quite heavily in our favour with all the jobs created in preparation.

Anyway, Everyone has got an opinion these days and only time will tell who is right. :)
Click to expand...

Austalia/NZ are not doing well just like everywhere else. Have been plenty of job cuts here in NZ. But I believe the worse is over here now. SA seemed to have entered the recession rather late and 2010 is going to be a very tough year in SA. Really bad timing for the world cup. House proces here in NZ are on the up again!
 
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