Some journalists said "The World As We Know It Is Going Down".
Are you following the news of this world financial crisis. Actually, I think that it's a financial and an economic crisis. People all around the world are freaking out. And you Frihosters, are you concerned?
Well i l not look at this very seriously.Its just a one more type of crisis with little high impact.But from these, hope these banks will learn and think twice before giving debt and Land transactions in future which is the main cause of situation today.
Second thing that affects much is rumors that this bank is getting bankrupt that bank is getting bankrupt etc etc.This things should be stopped else there will be horrible situation.
Thousands of people are losing their homes due to foreclosure, major banks are going under, credit is nearly frozen, the stock markets are crashing... and you don't think its major or should be taken seriously? Have you ever heard of The Great Depression?
It's a vicious cycle that feeds on itself - Banks stop issuing credit to businesses, businesses start laying people off, people can't get jobs, they can't pay their mortgages and car payments, the banks don't get their money, more banks go under, less people have money to spend, businesses start closing, more people are unemployed.
Next thing you know our systems of supply of goods and services break down and you have shanty towns popping up everywhere and people starving.
I don't think it will get that bad, but it very easily could. Our financial and market system is built on abstracts and credit and speculation rather than on solid supply and demand, and it's a pretty flimsy house of cards.
It is a serious crisis, and people should realize that there is nothing the government can do to bring it back to where we were a few months ago.
The government(s) can however make it worse and it is important they try and get the credit markets going again. It is the difference between a depression and recession.
This is a massive crisis, markets are plunging by the minute. Everyday you see a different thing, you never know what to expect. I think the world needs to find more resources to boost the economy back to normal. Expect the unthinkable now days. Be carful out there!
At first I think the first one. I'm only 15 and tbh I don't have any money to invest in anything. So I'm not worried and don't really follow it.
But now that I see theres a poll on this forum about it, I changed my opinion. Seems like everybody is paying attention to it, and not only the media in our region.
The fact that so many people are scared of it, made me a bit scared aswell.
OMGOMGOMG THE WORLD IS OVER!
I had to go for option 3
I hope we learn something from this, so it WON'T be the same again, it won't go back to the way it was, or we're all in the shitters again, aren't we?
Situation in Belgium:
A lack of thrust and panic reactions where people put their money in the vault instead of on an account is causing a lot of problems. There is no real reason to close the account since the state insures accounts up to 50 000 EUR. The panic causes a cash flow-out that cripples the bank to recover from the mayor hit it recently recieved.
Re-establish thrust and in a while banks have a chance to recover.
But the ecomonic situation differs a lot from country to country.
Also I have a general belief that you shouldn't borrow money/buy on your credit card if you know you can't repay the money.
I do not see a category that I can vote for. Governments have been printing too much money over a number of years, which of course is what follows when interest rates are kept low and when Governments are spending more money than what they have available to spend. Government debts have been accumulated for generations to come. Not only in the United States but all over the world. Living on the "never never". At some or other time the debt will have to be confronted and this would be the key to sorting out the crisis.
I think that after this crisis, everybody in financial industry will change, but, like everything, after few years all back to the same thing.
I Feel its not the end of all. Market will get its grip in about 2 to 3 or earlier.
i believe the crisis is serious ,but just in some countries like America Japan and Europe,etc. The developing countries just face some problems like the reduce of export.
I went with Option 2. While I'm still only 15 and won't be making investments or making any serious money for a while, I still have an opinion. And I honestly believe it'll get better within a year or two. I'm not following the crisis too closely, I admit, so I don't know of any recent updates. Last I heard of was the stimulus package. I don't know much after that.
But anyway, if the US was able to pull through the Great Depression, which was supposedly worse than what's happening now, then it can surely get through these tough times, especially since we have these new "protections" we didn't have in the 1920s.
As for the world crisis, well, I think with the US recovering, other countries will soon recover too.
to be honest , i feel the crisis has nothing to do with me.
i'm just wondering how did you come up to the last option in poll that the world will go down? hhhmmm.. that's interesting but still there still a few people who choose.. i hope they're not serious choosing it..
Until we can wipeout "Greed" from our vocabulary, we will keep going down.