Indonesia Suspends Trading Indefinitely

[chilli]

I know it is easier said than done Jimbo, but what choice do you have ?

panic, get sick,?

or work at easying your mind from worry and there are MANY people feeling what you are feeling right now, so your not alone ! (if thats any consolation)

my best friend has been diagnosed with cancer and has a few months to live, she doesnt care about money now. (do you see my point?)

 

[Jimbo]

Yes I see your point which is if I am dying then money does not matter. Who can disagree with that. However I am not dying, my wife is going to live longer than me, I have many children all who need providing for!

You will forgive me but even if I was dying I still have responsibilities outside of myself

 

[SteffandShaz]

Chilli, I am sad to hear your news about your best friend. I hope she has a some loving friends who will be by her side all the way through her ordeal, no matter the outcome of her journey.

 

[SteffandShaz]

Jimbo, I empathise with your concerns and hope that you are able to reshuffle your investments so that you are able weather the storm, provide for your family and retire as planned.

I can also understand your loosing sleep, I sometimes find myself awake in the wee hours of the morning wondering if I'll become dependant on some sort of aged pension in years to come. That is if my super doesn't recover (has now lost 25% of the principle!).

I am SOOO looking forward to our trip to Bali next week (6 sleeps to go); I'm hoping I can get into my usual kick back and relax mode when we arrive and pretend I don't have a care in the world. 8)

 

[chilli]

Thankyou Steff and Shaz, my friend is well loved and in good hands.

I dont have a super fund, but ive heard that since 1.june. 2008 you can transfer your
super into property investment. (in Australia, i dont know about England)
Im not sure how much super you have, or how you are structured or Jimbo for that matter, but its worth looking at all possibilities.

 

[Jimbo]

I have no idea what a super fund is. The mysteries of the Ozzie dialect are sometimes beyond me

 

[goldminer]

a super fund is a compulsary fund set aside by all aussies, generaly 9% of salary, paid for by employers. It cant be accessed until retirement, usualy 55-65. Unfortunately, it is all invested on the stockmarket by fundmanagers, so most aussies super "retirement " has dropped about 25% in last year. We are able to decide where the money is invested, ie balanced, hi risk etc. Some even let you play with the stockmarket :roll: Thats a very general idea Jimbo.

 

[Alexandre]

you certainly do not want to switch anything into property at this stage, that would be the recipe to bankruptcy. Stay in liquid assets. The real estate bubble is gone for good.

 

[Jimbo]

Thanks Goldminer

 

[chilli]

Alexandre, do you mean in Uk and U.S.A or world wide ?

chilli

 

[Alexandre]

Chilli,
worldwide. It started with the US, now the UK and the rest will follow. Not every country will be impacted in the same way. Places where leverage became ridiculous will be most affected. Places where purchases require large initial deposits or are made in cash should fare better (Indonesia for instance).
Here in the UK the situation is still ridiculous. In London the average wage is GBP 25K and the average London house price in excess of GBP 250K, a multiple of 10 times.
The only hope for governments was to ignite inflation in order to debase all this indebtedness. The recession we are into will bring deflation and will only compound the problems.
Not looking good I'm afraid.
Best
Alex

 

[chilli]

yes, an inflationary holocaust.

 

[BaliLife]

a word from mr. buffet today, not only the greatest investor in the history of man, but one of the greatest philanthropists - a man who's principles and honesty have always served his shareholders.. as he points out, anybody with a full cash position is under the grand illusion that he or she can time a market rebound, and is in fact opting to hold an asset that will certainly depreciate, an asset which has the worst long term growth prospects of them all.. an interesting read..

http://www.nytimes.com/2008/10/17/opini ... ref=slogin

ct

 

[Nath]

Interesting article Balilife. All to true. Shares or Property, the only losers are short term buyer and sellers. The long term position is always up! Too many people follow the flock.

 

[don]

Always interesting how the great American ass is always kicked around and blamed for everything including scalp itch. Sure that sub prime stuff was pretty bad, and so were the greedy people that bought it. Can't the rest of the world once in a while take resposibility for their own mistakes and get off the dog kicking?
This illusionary no tomorrow life that most of us live in needs some leveling off to get to a base determined by real value, and we will all pay the price till it does.

 

[BALIHI]

Don , Amen brother ! You said a mouthfull ...

 

[BaliLife]

i agree somewhat in that you can't point the finger squarely at US brokerages, investment banks, commercial banks etc for the mess.. obviously there was international demand for these products otherwise they wouldn't have spread around the globe.. many are of the belief that the US is simply ahead in this market cycle and that the sub-prime and other credit related issues that are hitting the real economy in the US (and cleansing themselves from the market) will hit certain european economies much harder.. obviously these non-US central banks also thought that to be possible as they've all jumped on board with massive bailouts..

ct

 

[Markit]

The consensus of opinion seems to be that the (allowed) demise of Lehman Bros. in New York, America is what kicked the whole mess off. And since the whole mess was caused by the American selling of sh*tty mortgages to people that couldn't afford them. Hey Presto!!!

It perfectly clear that it therefore can not have been America's fault - anything that obvious must be a conspiracy between the CIA, FBI and UFOs trying to take over God's country - cheaply.

 

[chilli]

its time to call sub-prime,

sub-crime.

 

[SteffandShaz]

I like that one Chilli :lol: