How to prepare for a Recession?

Reportage · 09-27-2011, 05:57 AM

You Tube

From above. What should a ordinary joe working day in and day out prepare for?

Hopefully the guy is wrong since he is an independent trader (but apparently good enough to get on the BBC.)

Clicker · 09-27-2011, 05:59 AM

Well they gave Greece the bailout loan stating the economy will be fine?

Reportage · 09-27-2011, 06:34 AM

does the world even have trillions in the first place?

Clicker · 09-27-2011, 07:03 AM

Only China....lol

It's greed that got us here and the very same bankers they helped are still just helping themselves...putting your money under the mattress might be a good option afterall

photocanadian · 09-27-2011, 09:24 AM

Get ready for gobs of cheap lenses ... just hoping

reeftool · 09-27-2011, 10:10 AM

Originally posted by Reportage

does the world even have trillions in the first place?

Trillions is simply a number on a ledger sheet. The world has it because we can simply create it. The concept scares a lot of people because they want some sort of fixed value. Economies could never grow that way and it will eventually end up with a few controlling most of the money and power. It would result in a world war rather quickly.

Clicker · 09-27-2011, 06:22 PM

Buy all your wants now because you won't be able to later lol If only it was that simple.

Clicker · 09-27-2011, 06:50 PM

When stock trader Alessio Rastani proclaimed to the world “The stock market is finished” and “I go to bed every night and dream about another recession,” jaws dropped and tweets flew.
Then came speculation that Rastani was part of an Internet group of pranksters and that the British television network had been tricked.
Instead, he turned out to be an attention-seeking hobbyist who doesn’t own the home he lives in.
But what he told incredulous news anchors cut the heart of fears that the economy can’t be fixed, plummeting stock markets that ruin average investors are a boon to professional traders, and investment firms run the world.
Rastani’s interview as a “financial expert” on the BBC News channel Monday began when he was asked about the latest rescue plan for the euro.
He started by saying that “the stock market is finished,” and the conversation veered wildly off-course from there.
“I’m a trader. If I see an opportunity to make money I go with that. We don’t care about how they’re going to fix the economy,” he said. “I go to bed every night, I dream about another recession.”
The shocked anchor told him that “jaws have collectively dropped” at his comments.
“We appreciate your candor,” Martine Croxall added, “however, it doesn’t help the rest of us, does it?”

source:Toronto Star

Jasvox · 09-28-2011, 02:46 AM

Original video in the OP is purported to be a fake and part of a comedy team. (Not that I do not doubt at all there are plenty of people making billions while billions of people lose everything).

Jason

reeftool · 09-28-2011, 08:58 AM

Originally posted by Jasvox

Original video in the OP is purported to be a fake and part of a comedy team. (Not that I do not doubt at all there are plenty of people making billions while billions of people lose everything).

Jason

Yep, I ran across this earlier. Pretty good one, though. Looks like the Onion is getting some competition from the UK.
http://www.huffingtonpost.co.uk/2011/09/27/alessio-rastani-hoax-on-bbc_n_983...ef=mostpopular

Ratmagiclady · 09-28-2011, 03:59 PM

If you can 'prepare for a recession' you're among the last to be hit. Don't change jobs.

photocanadian · 10-18-2011, 04:03 AM

Originally posted by Ratmagiclady

If you can 'prepare for a recession' you're among the last to be hit. Don't change jobs.

... or buy a $50k truck on 100% credit to impress the neighbours, or a $300k house on 99% credit. Getting married (cheaply) is also usually good, except plan for kids after the recession

And, sell your gold holdings when the recession hits ... early retirement is always a nice thing

stanic · 10-18-2011, 04:32 AM

Originally posted by Clicker

Well they gave Greece the bailout loan stating the economy will be fine?

good one

09-27-2011, 06:50 PM	#8
Clicker Veteran Member Join Date: May 2008 Photos: Gallery Posts: 3,241	your wish came true When stock trader Alessio Rastani proclaimed to the world “The stock market is finished” and “I go to bed every night and dream about another recession,” jaws dropped and tweets flew. Then came speculation that Rastani was part of an Internet group of pranksters and that the British television network had been tricked. Instead, he turned out to be an attention-seeking hobbyist who doesn’t own the home he lives in. But what he told incredulous news anchors cut the heart of fears that the economy can’t be fixed, plummeting stock markets that ruin average investors are a boon to professional traders, and investment firms run the world. Rastani’s interview as a “financial expert” on the BBC News channel Monday began when he was asked about the latest rescue plan for the euro. He started by saying that “the stock market is finished,” and the conversation veered wildly off-course from there. “I’m a trader. If I see an opportunity to make money I go with that. We don’t care about how they’re going to fix the economy,” he said. “I go to bed every night, I dream about another recession.” The shocked anchor told him that “jaws have collectively dropped” at his comments. “We appreciate your candor,” Martine Croxall added, “however, it doesn’t help the rest of us, does it?” source:Toronto Star

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09-27-2011, 05:59 AM	#2
Clicker Veteran Member Join Date: May 2008 Photos: Gallery Posts: 3,241	Well they gave Greece the bailout loan stating the economy will be fine?

09-27-2011, 06:34 AM	#3
Reportage Veteran Member Join Date: Feb 2009 Photos: Gallery Posts: 739 Original Poster	does the world even have trillions in the first place?

09-27-2011, 07:03 AM	#4
Clicker Veteran Member Join Date: May 2008 Photos: Gallery Posts: 3,241	Only China....lol It's greed that got us here and the very same bankers they helped are still just helping themselves...putting your money under the mattress might be a good option afterall

09-27-2011, 09:24 AM	#5
photocanadian Veteran Member Join Date: Oct 2010 Location: capital city, the land of eh (Ottawa, Canada) Photos: Gallery \| Albums Posts: 329	Get ready for gobs of cheap lenses ... just hoping

09-27-2011, 10:10 AM	#6
reeftool Pentaxian Join Date: Dec 2007 Location: Upstate New York Photos: Gallery \| Albums Posts: 9,555	Originally posted by Reportage does the world even have trillions in the first place? Trillions is simply a number on a ledger sheet. The world has it because we can simply create it. The concept scares a lot of people because they want some sort of fixed value. Economies could never grow that way and it will eventually end up with a few controlling most of the money and power. It would result in a world war rather quickly.

09-27-2011, 06:22 PM	#7
Clicker Veteran Member Join Date: May 2008 Photos: Gallery Posts: 3,241	Buy all your wants now because you won't be able to later lol If only it was that simple.

09-28-2011, 02:46 AM	#9
Jasvox Veteran Member Join Date: Oct 2007 Location: Melbourne, Australia Posts: 3,107	Original video in the OP is purported to be a fake and part of a comedy team. (Not that I do not doubt at all there are plenty of people making billions while billions of people lose everything). Jason

09-28-2011, 08:58 AM	#10
reeftool Pentaxian Join Date: Dec 2007 Location: Upstate New York Photos: Gallery \| Albums Posts: 9,555	Originally posted by Jasvox Original video in the OP is purported to be a fake and part of a comedy team. (Not that I do not doubt at all there are plenty of people making billions while billions of people lose everything). Jason Yep, I ran across this earlier. Pretty good one, though. Looks like the Onion is getting some competition from the UK. http://www.huffingtonpost.co.uk/2011/09/27/alessio-rastani-hoax-on-bbc_n_983...ef=mostpopular

09-28-2011, 03:59 PM	#11
Ratmagiclady Veteran Member Join Date: Nov 2008 Location: GA Photos: Gallery \| Albums Posts: 13,563	If you can 'prepare for a recession' you're among the last to be hit. Don't change jobs.

10-18-2011, 04:03 AM	#12
photocanadian Veteran Member Join Date: Oct 2010 Location: capital city, the land of eh (Ottawa, Canada) Photos: Gallery \| Albums Posts: 329	Originally posted by Ratmagiclady If you can 'prepare for a recession' you're among the last to be hit. Don't change jobs. ... or buy a $50k truck on 100% credit to impress the neighbours, or a $300k house on 99% credit. Getting married (cheaply) is also usually good, except plan for kids after the recession And, sell your gold holdings when the recession hits ... early retirement is always a nice thing

10-18-2011, 04:32 AM	#13
stanic Veteran Member Join Date: Aug 2010 Location: Zakopane Photos: Gallery \| Albums Posts: 389	Originally posted by Clicker Well they gave Greece the bailout loan stating the economy will be fine? good one