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Economic Mood
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cobber View Drop Down
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    Posted: August 12 2013 at 4:49am
Hi guys, I'm interested to know what your perception of the economy is like in your neck of the woods.

I live in South Australia. Our economy was just splashed with the lowest interest rates since records started. There is a definite down turn in our employment, but there has been a recent jump in job ads. My own personal feeling is the economy wants to get going again but is bumbling along.

I'm not sure which way this thing will head.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: August 12 2013 at 5:10am
We are witnessing the slow demise of of country and our economy right now, IMHO.
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KiwiMum View Drop Down
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Points: 29680 		Post Options Post Options   Thanks (0) Thanks(0)   Quote KiwiMum Quote  Post ReplyReply Direct Link To This Post Posted: August 12 2013 at 1:59pm
I live in Canterbury, NZ and even though we are in the middle of a rebuilt of Christchurch (which was largely destroyed in a recent earthquake swarm), I'm noticing how hard up every one is. I keep a close eye on the cost of groceries because I shop on a tight budget and some things have risen 20% in the last 6 months. 

More and more mothers from our school are going back to work and not by choice. We don't understand how some people are making ends meet. Wages are low and the cost of living is skyrocketing. Are people shopping on credit? Are they extending their mortgages as a short term measure? I have no idea. 
Those who got it wrong, for whatever reason, may feel defensive and retrench into a position that doesn’t accord with the facts.
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cobber View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote cobber Quote  Post ReplyReply Direct Link To This Post Posted: August 12 2013 at 6:54pm
We too have noticed a increase in the price of everything. 

I read, due to the USA money printing the rest of the world is experiencing inflation. 

How will this effect real spending and investment? 

Even though our rates are so low people are still not borrowing due to job security fears. The odd thing i heard was its easier to get a home loan today, but still extremely difficult to get a business loan.
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jody05/005 View Drop Down
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Points: 185 		Post Options Post Options   Thanks (0) Thanks(0)   Quote jody05/005 Quote  Post ReplyReply Direct Link To This Post Posted: August 13 2013 at 12:32am
went to the bank last week to see what I could do with my savings ( husbands small life ins ).  nothing was paying even 2% interest. TERRIBLE !!!!  I might as well burry it in the yard OR turn it into more preps.Dead
HOPE
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Iowa102 View Drop Down
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Turning savings into silver coins looks very good right now.
Those who publicly blame an object for the user’s abuse are promoting irresponsible behavior.
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Points: 31 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Lakeman2 Quote  Post ReplyReply Direct Link To This Post Posted: November 02 2013 at 8:16pm
Hey all, its been a long time since I have posted here but rest assured this site is bookmarked on my Bookmarks Toolbar and I visit to follow along regularly.

Anyway, I saw your post about silver coins and I have a question that I have not been able to find on the internet just by searching. I know this is an old thread but I doubt anyone will mind my resurrecting it.

Suppose one buys silver coins or rounds hoping to at least see some appreciation but also to barter if it ever came to that. Now, if it hits the fan and it is time to barter, how would one know what the value of an ounce of silver is? Normally one would look up the price on the internet but the internet might not be working.

The closest I saw to an answer was one persons statement out there in net land that the price is whatever two people agree upon. Well, yea duh. But shouldn't there be some more objective value and some guidelines for determining that value?
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Crying Out Loud View Drop Down
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Lakeman2,
 
I think the best intellect to answer your question regarding the "value" of silver or gold, would have to be the Snowman in the Story, of "Rudolph The Red Nosed Reindeer."
 
 
Silver and gold, silver and gold;
Everyone wishes for silver and gold.
How do you measure it's worth?
Just by the pleasure it gives here on Earth.
 
I guess a person, place or thing is measured according to the pleasure it brings. If the desire for a person, place or thing loses it "shine" out lives it need or purpose, then it would stand to reason that the commodity is going to drop rapidly in value. In times of hardship and economic trouble, it would seem that silver, gold and other like coins, would not be needed.
 
 
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arirish View Drop Down
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Points: 39215 		Post Options Post Options   Thanks (0) Thanks(0)   Quote arirish Quote  Post ReplyReply Direct Link To This Post Posted: November 02 2013 at 9:10pm
Jody05/005- You are absolutely right,when interest rates are lower than the rate of inflation, you are better off buying things you will use in the future. Here's an article that explains,

http://www.thesimpledollar.com/compound-interest-versus-inflation-the-battle-for-your-money/
Buy more ammo!
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Arirish, Please edit and make the link clickable. Put url in brackets [] in front and /URL in brackets [] in back.
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Elver View Drop Down
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Originally posted by Crying Out Loud Crying Out Loud wrote:

Lakeman2,
 
I think the best intellect to answer your question regarding the "value" of silver or gold, would have to be the Snowman in the Story, of "Rudolph The Red Nosed Reindeer."
 
 
Silver and gold, silver and gold;
Everyone wishes for silver and gold.
How do you measure it's worth?
Just by the pleasure it gives here on Earth.
 
I guess a person, place or thing is measured according to the pleasure it brings. If the desire for a person, place or thing loses it "shine" out lives it need or purpose, then it would stand to reason that the commodity is going to drop rapidly in value. In times of hardship and economic trouble, it would seem that silver, gold and other like coins, would not be needed.
 
 
 
Silver and gold are "worldwide" commodities which are in high demand from people in India, China, and elsewhere in the world.  Ask the people who survived the collapse of Argentina if they wouldn't have rather bought gold with their money prior to the collapse in 2001.  The value in having some gold as a hedge against hyperinflation cannot be ignored.  You might not be able to eat it, but you surely would be able to buy food with it.
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Elver you remind me of the gold prospector in "Rudolph The Red Nosed Reindeer.
 
Prospector: "Fog's as thick as peanut butter!"
 
Elf/Dentist: "You mean pea soup."
 
Prospector: "You eat what you like, and I'll eat what I like!"
 
 
 
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Elver View Drop Down
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Crying, 
 
I have no use whatsoever for sarcastic, contemptuous people.  Sarcasm is the inability to express onself properly.
 
From your previous posts you seem highly educated to me, so why don't you act like it?
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