Ducati Monster Forum

Ok so I have been watching all the current affairs shows on TV lately and all I can see is doom and gloom coming according to the “experts”   [evil]

What I see is a country being scared by all this negativity from the media .Which will have a knock on effect on spending.  :-\

My view it looks not great just ok, I feel quietly confident but at the same time a bit reluctant to spend.  [thumbsup]

What’s your feelings .  [popcorn]

Hey Dock from discussions within my industry (Software) and my GF's (Finance) the message from the guru's is quite clear, don't panic, sit tight, pull in the purse stings and ride it out for the next 3-5 years. We will recover, as we have in the past..

If I was retired right now, yes it would be a worrying time. I might just have to work for a few more years now but hey, worse things could happen.

I'm quietly confident that all will be fine.....  [roll]

As I'm only 9 years away from retirement and my Super has been creamed in the last couple of weeks it looks like I'll be working 'till I drop. :(

So the future (particularly the financial future ) aint looking real flash. ???

Better get the Red Light out the front and get the missus to work ?? [evil] [roll] [cheeky]

(Gazza quickly looks over his shoulder as his "spousal threat awareness" sense warns him of an impending SLAPPIN") [thumbsup]

Remember this...economists were invented to make meteorologists look good.

Ride it out.....

Whats an ecomomy?  [roll]

Careful, you may be defining yourself by the mainland's stereotypical views of Tasmanians  [cheeky] [laugh]

It would seem that the media is having the required effect Dock ... the tricky bit will be how that 'nervousness' transfers to business. As Trev alluded to, the economy is not determined by the state of the sharemarket ... although it may impact on your ability/willingness to save/spend/retire.

young enough not to care really I have to work plenty more years so there's no nest egg to worry about, the bonus is that house prices are flattening (I'm hoping for a drop) then buy buy buy!

Yes the good old Media are doing a wonderful job of scaring us all into keeping the C/C in the holster.
I have been sick to death of the Doom and Gloom Economic "Specials" from the channels featuring the countries brightest
Economic minds plus Kev-07 addressing the nation.

They are all saying the same, sit tight we are in good shape but all the Media seems to latch onto is the Recession or Depression.
And they run with it, not the actual message of hang in there and we'll get by just don't Panic.

It's like the good old saying. "Don't look now" and what does everyone do  :o
The message is "Don't Panic" so what are we doing to some extent, you got it.

My Mum is soon to retire and I think with all the changes to Super in the last number of years the B/B's are trying to create as much wealth as possible for there retirement. It is these kind of self funded retires who are selling shares faster than they can drop instead of just riding it out and waiting for them to recover.
That is my understanding, of course it is not just them who are selling out of the market but every little bit contributes to the wobbly knees we are suffering.

I myself have confidence that as soon as the Media leave it alone and move onto something else we'll soon forget that the sky is grey and the clouds are rolling in and realize that with interest rates now falling we can stop trying to breath in and relax a little.

My 2c's   

well, I reckon its a great time...
I'm gunna get hocked up, and buy some of them blue chip shares that are having a 30% off sale...    8)

I'm not sure that the man in the street are feeling it...

stock traders - yep

people retiring soon - oh yes, they know how much super they had

people with giant share portfolios of blue chip stock that live on dividends - not yet, but are worried.

does the average bloke really know what his super amount was in December 2007? I bet not !

it's actually the financial liquidity that keeps our economy going - you need people to spend the cash and not hold onto it, so the government is trying to do 2 things; inject cash (to those who will spend it!) and calm people down so they will resume spending.

The First Home Owner Grant Scheme is a great way of getting more money into the system - instantly. and then you give pensioners a nice cash bonus 6 weeks before Christmas - my lord that money will flow! (nanna ain't gonna be able to hide that under the pillow!).





can you imagine the presents Ita is going to get from the girls down at the bowls club this year, probably a new bike!  ;D

Yep, sit tight folks. The media are the only people who have less credibility than the economists who a) set up the economy to fail and b) didn't see it coming.

Its all about emotion and "sentiment". There is no real reason to worry unless you were going to retire at the end of the year.

Remember, even accountants treat economists with suspiciion.....

I can tell you the building industry is F%#ed, start spending and the economy will come good

Could be worse, you could be recently retired - it would then depend on how your retirement savings were rolled over, if you had retired in the last year and rolled your super into similar investments you would be pretty fooked right about now .... unemployed and your retirement savings worth a lot less and spending it quickly (in a contracting economy). At least if you were planning to retire you have an opportunity to re-plan and defer your retirement.

The economies go up and down, the ASX has gone up and average of 14% every year, but for there to be an average you have to have the down years as well, I'm invested with Storm Financial planning who are very cautious in there approach to wealth generation, and they said late last year that they could see this coming, when the market dropped we went and bought more shares, because it will come back, not sure when, but it will come back.

We don't worry about it, we stopped watching the news because they only report on the negatives or the headline grabbing stuff, and even then they get it wrong or miss information trying to be the first one to broadcast some little tid bit of information.

Classic case:
Look what happened in America, a smaller regional bank nearly went out of business, because a rumor started that they were in trouble, the rumor spread, no one checked the facts (The bank was fine and solid), the rumor hit the air waves and the TV news, again no one checked the facts, a rush started of people pulling out there money from the bank, next thing the bank was in trouble.
All because people believed the rumors, a couple of Journo's were to lazy to check the facts of the story.
They nearly destroyed a business because of rumors and speculation.
It nearly happened in the UK, it nearlyhappened here in Australia with a smaller regional credit union.

Classic case 2:
When the shit all first hit the fan a few weeks/months back, I was amazed how many old people were coming in wanting to buy safes because of the financial crisis, (I work in an electrical store, which they think means we sell safes?!?) I asked them, why take it from a bank were it can't be touched and put it in your house where it can stolen, destroyed in a fire or Cyclone.
They told me that the banks were all going to be gone in a matter days, end of the world, we are all going to die, The sky is falling type of stuff.

Sure enough, pensioners are being robbed and having there safes and cash stolen!
The Police have said break in's have risen in the last few weeks because people are storing large sums of cash at home. Duh!!
And even after the Government has said they will guarantee bank deposits, we still keep getting Idiots asking to buy safes,
Them: "The banks are going broke sonny, don't you know?"
Me: "You do know the Government is underwriting the banks don't you, your money is safe"
Them:"The Government is also broke..."
Me: "You also know the Police have appealed to people asking them not to store money at home because of the massive rise in break in's don't you"
Them: "They won't get me, that's why I'm getting a safe"
Me: "They are stealing the safes and breaking them open"
Them: I'll get a good one"
Me: Riiiight, go to Bunnings, I don't sell safes.
Where did this come from? A number of the shock Jocks like Alan jones, Neil mitchell and locally here in Cairns John Mckenzie told people that the sky was falling and to get your money out of the banks now!!!
Again a simple case of don't let the facts get in the way of a good story!!

I highlight these things to point out how many people get caught up and swept along because they don't check the facts, they take every thing the media says as being the truth and the be all and end all of the facts.

Best thing is to just keep cruising along, there is nothing you or I can do about the whole mess, The missus and I still go out to dinner every 2 weeks, we still buy DVD's, we are still going out and having fun, we are just approaching everything as business as usual.
There is no point worrying about things that are out of your control.  ;D

Geez, I dunno.

My Dad's super has taken a hit the last two years, he has been retired for around 10 years now. I think he lost ~$30k 07/08. Don't know about this year yet.  :'(

I'm fairly confident I'll be fine, I just don't want house prices to drop. And while I'm still working for the guvment, my job should be OK also.  [thumbsup]

my favorite is the day before the RBA meets, the Financial Review gets all the 'experts' to predict what will happen in 24 hours - they have all the data available - out of 17 'experts' you know how many called the latest 100 basis point drop of the RBA?

None!

14 said a drop of 25 points, 3 experts said no drop.

I always tell my clients that there guess is as good as anyone else's when it comes to home loan rates and that it's always a gamble. I split larger loans so there is always a positive for my clients - they always have half that's good!

If anyone has spare cash laying around you should invest it not hide it! Simple rules of investment, Buy LOW sell HIGH. Thats the theory I am running with.

Even better than that, buy low keep'em when their high and start funneling the dividends into more  [moto]'s

Question of economic stability raised ....


.... discussion ensues ....

.... conclusion reached ....


From economic doom and gloom to spend more on bling in just over a page .... only on the DMF  ;D

But of course!
What else are we about here?
Riding and Bling.

I know its not exactly the same, but did'nt the skies fall in when the clocks rolled over from 1999 to 2000, and we did have a lot of (financial) growth three years before the sky fell in (again) so unless you are about to retire very soon, and if you are your net wealth has shrunk some, so has everyone elses, we just let it ride out and recover. If history is anything to go by, we will (eventually) ride this out and go on to bigger and better things.
If you are buying some bling from overseas, bad luck you are gunna pay a little bit more, and its not like you need it you just want it.

My 2c worth             





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