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Do you feel the financial crisis?
Posted by rjl2000 • 11/26/08 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: financial crisis
I am Chinese.Now in china many factories have shuted down because of the financial crisis.
So how about the westen conutry?
User Comments
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same thing happened in my country.-
where r you from,friend?
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No. I only care about the difficulties faced by people in urban areas with the price increasing in all types of needs of life. They will certainly be very difficult to strive for adequate day-day needs. We imagine when the sun appears they have not depart to the city, while the afternoon until a new home and charged for something that can to get in consumption. I think the amount of labor such as this in the world and there are always many. Therefore, I personally very sympathetic. OK! -
A lot of our factories had shut down with their machinery being unbolted off the floor and sent to China.
But that's not the "fault" of the Chinese. The fact is, the US economy has been forced on past what common people could sustain, especially in the way of housing.
As recently as 3 years ago, a slum in Santa Ana, CA went for over half of 1 million dollars. That means a mortgage that will bring in over a million dollars in 30 years. People don't think about what that means. Going through my own tax records, I haven't made anywhere close to that amount in my lifetime...and I'm over 50.
In the same locale, only 8% of area residents at the time could afford their own homes. At the same time, wages have proportionately declined. Also, the longevity of jobs on the average has been severely curtailed. It used to be that one could join a company and work till the day of retirement. Now, it's rare that anyone has worked anywhere for over 10 years. That half-million house becomes a severe gamble for most people, especially if a divorce happens in a 30-year period, or a medical crisis which for most uninsured is a guarantee for bankruptcy. If one cannot pay for housing and food, let alone medical care, how can the same sustain manufacturing very long?
Meanwhile, to force the economy forward, banks insisted on offering increasingly risky mortgages. When the risks became apparent, investors ran scared. So banks began to implode, being unable to sustain these types of loans that had dominated the market in recent years.
So in my real estate office, we have 30 properties for sale. All but 2 are short sales, in which the failing borrower asks the bank to take a loss for the sale of the house that he or she couldn't really afford in the beginning. And most when they signed their mortgage contracts really didn't understand the truth-in-lending disclosures even if they claimed they did.
So now we have an effect of dominoes toppling one after another. It has been bad for everyone all over the world, simply because a system based on trust has trusted too much, allowing too much gaming of the system. -
Yes I do..so pls visit my blogs..
A skinny girl got to eat. -
No effect yet in the Philippines except some of our overseas contract workers are starting to come home because their employers have shut down. -
Roubini debate and friends in danielngsh.blogspot.com/2008/10/credit-crisis-how-we-got-into-current.html, shows how all of us, do not see any nation, that the crisis need to overcome together.
Let us see ourselves first, to prepare for the improvement in future. The question is:
As we?
What are we?
What do we have?
And how the results?
What if we do not?
And how the results?
And finally,
So what we want?
All the above is the result of: Needs, wants and expectations.
Global crisis that has occurred and, in turn, we live
What we do? and when do will be to become worse, the
Do not do anything. !
Options that first need alertness, remember when someone in the snake bite, when he moves so much faster poison will be killed.
Well, I better do not do, sparing your savings to pick up our death.
The road can be done is simple, efficient needs you, control you desire and hope you effektif.
Go to nature! that answers the global crisis, and said this can apply in the banking sector, industrial sector, building sector and housing sector and the Agro-business.
Sorry, I see from the perspective of different because I live in rural areas and not feel a global monetary crisis. -
I think regardless of where you live or what job you have or what business you work in, in some way or another the global crisis is affecting everyone. As the complex globalized networks of economies and markets are all tangled together and the domino effect ripples through the whole system...
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i really feel the pinch of this huge financial crisis.
for a while i have sleepless nights fearing i would be laidoff. it only ended when they announced it and i was not part of it. i feel bad for those who got the ax though.
rumors are there will be another round this year and i'll bet another sleepless nights for me.
i guess everyone is feeling the effect of this crisis one way or the other. -
I live in a extremely remote location and barter quite a bit with my neighbors for goods and services. I am self-employed artist and tradeswoman; so, I have not directly felt the economic crunch.
I have a really bad taste in my mouth for all the out-sourcing from this country (USA) to China. I boycott most stores (i.e. Walmart) that offer products from China and, until the trade devict balances out, I will continue to shop only where a selection of goods manufactured in the US are offered.
I'm not at all sympathetic that factories are closing in China. Hopefully, these are American compnies that are closing and that they will be returning to the states - thus, returning jobs to Americans and stimulating our economy. -
i am not earning now a days so i am feeling financial crises these dayz.
i am not affected by the financial crises, but my father and brother are. -
Yes yes many of them effected. Even me too. It may take some time but will recover.
magicofnumbers.blogspot.com
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