BF2S Forums Anyone else think the worst of the economic crisis is over?

Kmarion wrote:

Indicators have lag.

Bingo.

The oxymoron of realistic optimism, at least for me, is that banks start lending. For the past three years my brother has been buying businesses and selling them on. He used to be able to go to the bank and in the long run secure 100% mortages and sizeable loans. Now the response is repetitive: "come back in six months." Whenever small businesses are able to flourish, employ and grow then the crisis will be at the beginning of the end.

But the trail to this is a bleak one. I hope Obama's answer is strong, it needs to be. As does public perception.

Dilbert_X wrote:

I've heard of a lot of people here agreeing mortgages with banks and the banks changing their minds.

Great to hear. But where's "here"

m3thod wrote:

He's in Aus

That'd coincide nicely with this then:

Pubic from NZ wrote:

We haven't seen much of it here TBH, and the general opinion is that we won't get it as bad as the rest of the world.  Unemployment is around 5%, there have been some layoffs but not on the same scale as overseas - but then a higher-than-average proportion of our exports are necessities (food and other consumables) as opposed to luxuries.

A lot of expats losing their jobs overseas and coming home though.  What effect (if any) that has on the country remains to be seen.

I am indeed in Aus, formerly UK, working as a mechanical design manager.
Previously worked for an automotive co. in UK, and an optical telecoms component co.

Recession isn't hitting quite so hard here, not yet, but the Aus economy is right at the tip of the dragon's tail. When it shakes it takes time to ripple down to us, when it does we get flung around wildly.
UK sounds fairly knackered from what I'm hearing.

m3thod wrote:

He's a brit in Aus and works as an automotive engineer/consultant of somesort.

fixed

He's a brit in Aus and works as an automotive engineer/consultant for american car manufacturer with a french name and is dating a russian girl that happens to be half scott and 1/5th white african

That's him in the picture.

Yes, its me, I served in the 101st USMC Stat-Padders at Karkand interrogating prisoners.
The old kill-revive-knife-revive-knife-teabag-revive-knife-teabag-teabag-teabag gets the intel every time.

Also saw some fierce action at Jalabad, bunny-hop-dolphin-dive-spam-ammo-pack thank Christ for that Marine Corp training.

Ireland Update:

Waterford Crystal (world famous) - receivership (2000 redundancies).
Tara Mines (Europe's largest Zinc Mine) - announced potential layoff of 800 (all) staff.
Dell (fate of 2500 staff, with up to 13500 additional redundancies in supplies to the Dell factories).

Dilbert_X wrote:

Kylef wrote:

Great to hear.

Its not so funny if someone has signed on the dotted line to buy a house and the mortgage company backs out.

Ah. How much capital do you have to put up?

The carnage continues...

http://news.bbc.co.uk/2/hi/business/7817487.stm

This has echoes of '30s Germany.
http://news.uk.msn.com/uk/article.aspx? … d=12566255

Chancellor Alistair Darling has moved to quash speculation that he was planning to print money to ease the impact of recession.
He was speaking out after a comment he made in a newspaper interview prompted speculation that the Government was preparing to print billions of pounds of money to help boost the economy.
In the interview published on Wednesday in the Financial Times, Mr Darling said he was considering a policy of "quantitative easing".
Any such move would require the Government to work "hand in hand" with the Bank of England, he added.