Financial Crisis

So everyone knows of the financial crisis that is going on and the dramatic impact its having on everyone!

Can i say it is very epic! LIKE OMG i remember just last year in economics when we were discussing about oh how great the economy is going and everything and how everything is in major boomage. Well! this year its sorta just all gone downhill, especially with the financial crisis, i can't imagine how interesting it would be to be doing economics this year for hsc! !!! wahh =.= i feel so nerdy just thinking about that hahas!

To be honest .... the financial crisis is pretty scary because it means everyone will be affected. Like last year, choosing an accounting or finance major was a MARVELOUS IDEA because there will always be jobs around but come this year when your actually doing your major, you might have a few doubts wondering if the market will ever stop fluctuating and go back to being steady. However im sure it will in time. And at the start of the year working at macquarie bank seemed totally awesome! well now that i think of it ... if i did have the job i would be wondering if i would have still kept it by now! its pretty scary.

Now everyone is blaming everyone else for the crisis but really i dont understand how it all started? one moment we were fine, australian dollar depreciating abit but next moment ohhhhh we are in a financial crisis ... the population of america is going to become homeless because all their banks have become bankrupt and no one has no money anymore because a mysterious wave of debt has swept across america. And the rest of the world will follow suit! LOL

Which is true ... you see ... without that much needed rescue package that the american government is not giving to the banks. It means banks will not loan to other banks or businesses or anything because of the fear that whoever they loan to will collapse. This means they have a shortage of funds and are unable to loan to everyday people and everyday businesses. Without much needed funds to run their business the business is unable to pay workers or their bills and thus ... equaling more unemployment and more unemployment equaling less spending and less spending equaling less production of goods and services. Also less spending meaning less importing of goods from overseas. So really everyone else gets affected because ... well lets face it americans consume a shitload of crap and we need them to import and consume our crap! but with no money how can they?
and yeah then the world ends.
So really this financial crisis if your think of it from an economic perspective is pretty scary.

However the RBA is lowering interest rates and that is all great and stuff but it really just reflects the state of our economy which is not a good one. Our australian dollar has also depreciated substantially meaning .. buying overseas goods are now back to being expensive!

And if i were a person with shares right now i'd be dying. LOL!

but the best thing you can do is not sell your shares =.= if you do your really just fueling the financial crisis and being an idiot because if everyone had just kept their shares we wouldn't be in such an awesome mass of debt! if everyone just hung in there it wouldn't be so bad. So really keep onto your shares because you know, the shares will go back up in time and im not saying instantly but they will because thats how the market is ... it can fluctuate and that was a risk you understood when buying your shares. So don't back out now and fuel our crisis! keep your shares and help it.

So yeah i was just overcome by economic boredom.

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