Arty - long time no see. How in the bejesus are we going to sort this credit crunch mess out?
Oh, and Hi Bog!
Arthur (no login) 203.100.240.247
Credit Crunch
January 25 2009, 6:06 AM
Hi Funki
Long time no see.
I'm quite happy with this credit crunch. I sold out most of my equity portfolio late 2007 and went into bonds. Now I am waiting for the time when I am confident to return to the stock market and buy up all these cheap stocks. But I think that the time is not right yet. It may not be right for a very long time. I sold my business in 2003 so that is not a worry to me any more.
I'm living in Australia now. The CC has not hit hard here............yet. However our stock market is hit by about 50% down. Home prices have not dropped much yet. The UK seems to be in an awful state. You need a new leader; Gordon Brown seems to be an idiot to me. But I don't see who can replace him as all of the others are not up to the job either. The best bet is probably to ask Tony Blair to return to the PM job. He may not be ideal, but he is the best guy in the country to take charge at this awful time. In Kevin Rudd we have quite a good PM in Australia.
I think that this is more than a CC. I think that we are looking at a depression for some years to come. We need to learn how to prosper in these unusual times. It will not be easy. But some of the greatest fortunes the world has even seen were created in the last great depression.
Here is the picture that is deleted at the start of this thread. Maybe Bogush can move it back to the first post? It should last longer this time as it is linked from Photobucket.
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