Here in Australia, our politicians have been claiming we missed the meltdown and that every thing is just dandy.
I'm retired,so can juggle my superannuation investments. I knew something was VERY wrong with the beginning of the sub prime fiasco. I moved all of my funds out of property and the the stock market (against the advice of my financial advisor) and into cash. Had I not done so,my losses would have amounted about $30,000,instead of $0. BUT since that time,the income from my investments has halved.
Everyone I know who is still working lost between 20-30% of the value of their superannuation. Their super has not recovered and is unlikely to do so before they retire.
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Tangent: Last Thursday, I saw 'Margin Call",a pretty chilling film.
http://en.wikipedia.org/wiki/Margin_call_(film)
I'm retired,so can juggle my superannuation investments. I knew something was VERY wrong with the beginning of the sub prime fiasco. I moved all of my funds out of property and the the stock market (against the advice of my financial advisor) and into cash. Had I not done so,my losses would have amounted about $30,000,instead of $0. BUT since that time,the income from my investments has halved.
Everyone I know who is still working lost between 20-30% of the value of their superannuation. Their super has not recovered and is unlikely to do so before they retire.
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
Tangent: Last Thursday, I saw 'Margin Call",a pretty chilling film.
Quote:Margin Call is a 2011 American independent drama film, written and directed by J.C. Chandor. The film has an ensemble cast that includes Kevin Spacey, Demi Moore, Paul Bettany, Jeremy Irons, Zachary Quinto, Stanley Tucci, Simon Baker, and Penn Badgley. The film takes place over a 36-hour period at a large investment bank (loosely modeled on Lehman Bros[4][5]) and focuses on the financial crisis of 2007–2008.[6][7] The film follows the actions taken by a group of employees during the financial collapse.[8]
http://en.wikipedia.org/wiki/Margin_call_(film)
