gobbledonk Posted September 22, 2009 Report Share Posted September 22, 2009 I learnt that my Superannuation is basically a joke, despite the fund being rated #5 of all Oz Super funds .. Watching a doco tonite was even more sobering - they interviewed one of the first people to blow the whistle on the madness in Iceland, a Brit merchant banker, and asked him if things would change following the massive losses of the last few years, and he couldnt have been less optimistic about things going straight back to 'business as usual'. Not sure why the Icelanders dont petition the UK government to deport the scumbags that took their money and ran, leaving them to foot the bill. Would be great to watch them getting off the plane in Reykjavik. I guess it reinforces the need to enjoy it while it lasts - party on. :evil: Link to comment Share on other sites More sharing options...
keith doug Posted September 22, 2009 Report Share Posted September 22, 2009 I NOTE YOU SAY did we ,,,,, i think you mean ARE WE!! the recession as far as i am concerned is still on ,, Link to comment Share on other sites More sharing options...
gobbledonk Posted September 22, 2009 Author Report Share Posted September 22, 2009 cmon kd - the pollies are patting themselves on the back and telling us that its all over. Prepare for a new era of prosperity and world peace. Seriously, nothing is more painful than being unemployed when the news is telling you how wonderful things are - had that experience after dot bomb, and I dont plan to revisit those sensations. Link to comment Share on other sites More sharing options...
HeartThais Posted September 22, 2009 Report Share Posted September 22, 2009 The more experience I get in banking, the more I realize it is set up like an ant colony. It's simply too complex for any one person to understand, even at a small bank. The way banks are set up, you have hundreds of "desks" which are trading groups looking for opportunities. The ones that succeed in finding crumbs, you reward. The ones that fail, you fire. And every once in a while, someone comes across a huge nugget and everyone starts rushing there at the same time. There's no real thought or reason to it... just survival of the fittest. Link to comment Share on other sites More sharing options...
chuckwoww Posted September 22, 2009 Report Share Posted September 22, 2009 I learned when things are going really well it's probably time to sell. Link to comment Share on other sites More sharing options...
ThaiHome Posted September 23, 2009 Report Share Posted September 23, 2009 Did we learn anything? Highly unlikely, as we didn't learn anything from the previous 18 or so "crashes" TH Year & Date Name 2006 Great Arabian Crash 2005-(till date) Iranian stock market crisis October 2002 Stock market downturn of 2002 September 2001 post-9/11 crash March 2000 Dot-com bubble crash 1998 Russian financial crisis 1997 1997 mini-crash 1992 Asian financial crisis of 1997 October 13, 1989 Black Wednesday October 19, 1987 Friday the 13th mini-crash October 29, 1929 Black Tuesday October 28, 1929 Black Monday October 24, 1929 Black Thursday 1929 Stock Market Crash of 1929 May 9, 1873 Der Krach September 24 1869 Black Friday May 10, 1837 Panic of 1837 1819 Panic of 1819 Link to comment Share on other sites More sharing options...
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