Financial Armageddon!!

[eri]

yes

after a record 25 years without recession

you'd think there would be many, many signs of an unstable wobble in the australian economy if they were about to crash

not just a couple

that only american analysts are smart enough to see

[Perry]

My pick is in 6 weeks time we'll find nothing much has happened.
Someone should set up a reminder for this.

Done and dated.

[Bobsyouruncle]

I was surprised to see this considering all the doom and gloom reporting recently as the mining boom dissolved. Surely a downturn would be fully expected as they dealt with that?

[flyernzl]

West Australia was struggling when I was there in July.

Property in the smaller mining towns quite badly hit.

[Bobsyouruncle]

Bit like North Dakota in the USA, devastation abounds in the mining/oil aftermath. I keep an eye on a few Oz locations, they are all slowing down a bit.

[Davo36]

It was quite precise of them to say 6 weeks.

I wonder why, since they seem to know exactly what is going to happen, they weren't even more specific?

Like 6 weeks, 2 days and 10 hours from now, the recession will hit...

[Perry]

Or even just what the contingency plan was!

[Perry]

The start date of this thread was/is 15 Sept 2008.

Eight years old, today.

Happy birthday.

kArma get on what?

[PTILoveYou]

6 weeks, very close to USA election aye?

[Bobsyouruncle]

So there is a genuine risk of Deutsche bank going tits up. What would that mean for our banks?
Too big to fail but too big to bail

[Bluekiwi]

The start date of this thread was/is 15 Sept 2008.

Eight years old, today.

Happy birthday.

kArma get on what?

Maybe it should be retitled:

"Am I Geddin Enough" Property - The Boom of all Booms - !!!!"

[Perry]

My pick is in 6 weeks time we'll find nothing much has happened.
Someone should set up a reminder for this.

Done and dated.

Six weeks later and . . . .

[Bobsyouruncle]

It was always stupid to say 6 weeks. There does seem to be genuine concern over low end apartments. There is such an oversupply they are still expecting that to fall over in some cities supposedly triggering a general downturn in values. Of course they triggered it by tightening up lending to non residents so somewhat self inflicted regardless of their general economy.

[cube]

Seems to me that Melbourne and Sydney might not be the ones suffering from an oversupply of stuff no one wants to live in. There are a number of old office blocks in Auckland being turned in to apartments at the moment, and its hard to put lipstick on a pig; anyone know how those sales are going?

[eri]

people want them

but at below the cost of providing them

doesn't matter

complain enough

have some children

and lump the problem on to everyone else