Australian sub prime mortgage market.

This is the 3rd recession that I have seen whilst in business. From my perspective, this one is considerably worse than the others and it's still early days.

 

And to think I thought everything was starting to quiet down!

 

They've cut growth predictions to under 2% I note.
Have a lot of US$ to play with and not want to turn valueless over-night.
Kelsa would likely be better informed on the situation but I doubt they will allow a significant downturn if its avoidable in any way. Economic development with the party's guiding hand can't be allowed to be seen as a dud. Political ramifications would be significant and wide sweeping if that perception was allowed to take hold.

 

inside word is it will slow down. property market in china is shaking up, stock market aren't doing well.

their buble is about to burst if not careful. then i might see ppl jumping of buildings like they did in the 40s while i'm in Shanghai

 

Hope not.

 

lol...two posts....two jokes!

 

Shianghai base jumper.

 

Not if your market predictions come through.
He'll be lucky to afford a little ball of tar for his pipe.
Fancy pipe collection might have to go too.

 

Better odds of that in melbourne than Chianghai.

 

Well I could open a door or two in sydney, even after all these years, but wouldn't know my good josh from my bad luck in melbourne.

 

Not much. Decrepit, over the hill...

 

Know some hippys in Nimbin if that's any use to you.

 

Go the milk on its own here. Fighting the doctors off from wanting to keep you half asleep all the time. Plenty of time for that after I'm dead. Right now I want to be alert to enjoy what's enjoyable.

 

Actually, I'm amazed that anyone could be surprised about China slowing down given the amazing burst that was put on for the past 8 years or so to get ready for the Olympics. FFS, they built 50 years worth of stuff in less than 10, did anyone really think it was going to continue at the same rate?

 

I guess a lot of it has to do with how much of their production is exported???? Everyone talks about 1 billion people living there and it will self grow. When I lived there I couldn't believe the poverty, very sad to be honest. China has become the manufacturing centre of the world and when their customer (the world)stops buying, its gunna hit the fan.

As a number of people here have been saying, we haven't seen the worst yet. If you have the ability to retire debt, I would do so.

 

Yeah, everyone talks about the 'domestic market of 1 billion people' but forget that 999,900,000 of then have 3/5ths of the proverbial...

 

So true Kelsa. One of the saddest things I heard was the young chinese were being taught how "not to be chinese", i.e how to be western, particularly for the Olympics.

I can only speak of my own experience in China and trust me the quality is there. I set up a Foam Plant in 1995 for Pacific Dunlop in Shanghai (greenfield site) and we implimented all technologies as set up here including OH&S. The foam there was as good as it is here. I came to Australia in 92 and in 94 was heavily envolved in a $14m greenfield site in Melbourne.

 

the $14m was your pay, right?