Really? I remember posting here to convert to US when it was 1.07 canadian dollar to us as well. In fact, there was thread about the list price of books that has US and Canadian dollars listed
well,,,,,i have weird parents.... the sad thing is that the only reason we moved to US was to avoid the failing economy in HK....we moved in 2000....eight yrs later,,,we're facing the same crisis again....
I have friends in HK. and they are not doing any better. In fact, there stock market " hang seng" went to 14500 points from 31000. A little over half. My friends are projecting it to go to 10k-12k. (they are REALLY worried also amateurs in investments). Comparing with the US, which went from 15k to about 8k. So the US is a little better, by about 10%. -batman Canada is not as bad, but we are expecting to be hit by this "tsunami" of financial crisis. Knowing what to prepare for may not be so bad. That is why the G-7 is involved.
yer i know , its ALL USA's Fault ! i had to pay an extra 30 cents for that Banh Xeo i ate for lunch ........
lol @ phil i'm still spending...but i give myself a lil budget...so i dont over spend...not that i spend alot anyways.... i reckon UK's guna get hit by recession....=/
not right now. saving up for end of the yr trip. HKD better rise back to 7HKD - 1AUD by DEC08. Currently 5.8HKD - 1AUD
i went to hong kong this summer and their stuff got expensive ><"" i was so disappointed since i was hoping for a huge shopping spree. my mom doesn't expect me to shop for anymore clothes after my trip... ANYWAYS, $1 USD dropped to $7.7 HKD.....well that's what i heard....last month...don't know about now.
WE'RE IN RECESSION ALREADY SILLY....-dead WITH THINGS GOING UP...WE'RE ACTUALLY SPENDING MORE....COZ PRICES OF THINGS HAVE GONE UP SO WE SPENDING MORE...I THOUGHT THAS HOW IT WORKS....NO..?-huh
its doesnt work like that, since theres financial crisis going around, we will think about it before spending our money that easily, since the trust in the economy is going we are gonna start saving up money "just in case" prices wont go up i guess,since when there is less buyers ( cause they are saving) will mean the products wont get sold that easily, and if that happens the shops will lower there prices to attract customers or to fight other shops prices
well i'm prob spending more as a student now lol. going out drinking, it all adds up to a lot of money.
yes, that's what happens in a perfect world where no one's playing around with the economy... but since the governments and banks around the world are buying up bad debt and injecting the world with cash, lowering interest rates, inflation will spike... so prices won't realistically drop off... the whole purpose now of the injections is so people have the money that really can afford to buy something like a house or a car NOW, won't be afraid to do so since money IS so incredibly cheap right now...
no im not spending less, i dont care about all these artificial financial problems, were gona get a cashless society soon which will resolve the *current* problem, nothing we can do about it.
yea but the problem is, all those injection isnt really working atm, since expectations is that at the end of the next year the house prices will stop rising, and it will even drop in a few years, alot of people doesnt have confidence in the economy so they just dont want to take risk to buy a house now, thats the truth
what do yo mean by a cashless society? You mean no paper money or something else. it's interesting, Mexico's economy is very stable right now, it has barely been affected by this global mess. There was a joke that some of the illegal immigratants will try to run back across the border you dont think? I would think that some parents do explain to their kids, so the kids understand that they can't be so greedy and help saving around the house and not to be so picky about expenses
yes, but the problem is since it's not working, inflation will continue to rise as inflation is essentially tied to money supply... the money is clearly there, whether people decide to get a loan from it or not... big commodity items like homes may drop off a bit, but your average meal at ur local diner will bump up in prices... the same people that are waiting on housing prices to drop need to remember that rent will eventually go up with inflation and since everyone is like them, renting instead of buying a home... so it's in their best interest to buy sooner than later...
Well, it depends on the parents, right? Sometimes telling the kids " I don't have Money" is hard, because the kids goes around telling everyone they have no money. I remember my neighbor went to everyone in the street asking to borrow money in the last recession so they can pay off their monthly mortgage. They really made a name for themselves cause everyone knew. Not a good position to be in.
exactly.... i think one of the incentives will be based around getting a clean slate with this new cashless society, so if you got debt etc, you join this and you start over without any debt, but tbh i dobut there will be any choice in the matter. Ofcourse its just my opinion, we will have to wait and see what happens.
was th person trustworthy? did they pay people back? sometimes it's just about pride, and honestly in the world pride shouldn't be made as important as the asians do I'm still confused. how do you obtain things, are you saying that everything is bargined through trade, that's um that woudln't work things would have to be done in person and things couldn't have a constant value which would be very hard.
yes. they were asians. they didnt pay back because it was based on trust. After they got there finance ready, they moved away. Goes to show you, they were living well after, but People that lend them money were just too nice. So the lesson was, dont lend them money. tell them to go to the bank to get a loan
