cheers to canada for coping with the economic crisis

[jverne]

TORONTO - High banking standards have kept Canada's financial institutions afloat and out of the kind of trouble that has sunk many of their international peers, Finance Minister Jim Flaherty said Wednesday.

http://money.canoe.ca/News/Economy/2008/10/08/7017666-cp.html

i'm not an expert in economics so it's a guess, but it seems to me that this recent economic crisis is not really a result of some resource running out or some major catastrophe that wrecked chaos on earth. i think it is just based on speculation and fear not some really tangible reason.

personally i think it's pathetic that just "talk" brings half of the world down. but ok, that's how things work, apparently

 

[Operational]

personally i think it's pathetic that just "talk" brings half of the world down. but ok, that's how things work, apparently

Yeah it is crazy but it does make sense. If you, and everyone around you, are feeling good about the way things are going your going to be more happy to have large sums of money invested because you are confident that you'll be making a profit. On the flip side if everyone thinks things are going badly you are going to get nervous about all the money you might lose. So yeah it can be a self-fulfilling prophecy of sorts.
I saw an interview with a guy who had spent 60 years working in Wall st. He said he'd throw away everything he had learnt in that time if he could just predict people's actions better.

i think it is just based on speculation and fear not some really tangible reason.

It started with a tangible reason.

 

[jverne]

Yeah it is crazy but it does make sense. If you, and everyone around you, are feeling good about the way things are going your going to be more happy to have large sums of money invested because you are confident that you'll be making a profit. On the flip side if everyone thinks things are going badly you are going to get nervous about all the money you might lose. So yeah it can be a self-fulfilling prophecy of sorts.
I saw an interview with a guy who had spent 60 years working in Wall st. He said he'd throw away everything he had learnt in that time if he could just predict people's actions better.

i agree.

i guess because things today are so interconnected that even bad talk can influence. so can't really complain here. but still i find is kind of absurd.


It started with a tangible reason.[/QUOTE]

well yes, but i still don't see that as a real "material" issue.

today we have enough food, water, fuel, place to live (at least we could have) and we still find a way to **** ourselves up.

but like i said...this is more of personal rant that an actual debate. anyway i'm happy for Canada that it's not doing the same stupid shit we do.

 

[Kyorisu]

Australia and the rest of Oceania are doing all right. Sadly for us Aussies we rely on commodities prices which are plummeting.