Global crunch - is it?

[Asterix]

Now I understand that some of the developed markets have been hit less hard by the recent times but I've noticed that countries (and these are random examples) like Argentina, Latvia, South Africa, Vietnam etc... (told you they were random) haven't been seen to be either newsworthy enough or simply are't being hit as hard.

Why is this?

[scorp]

I guess the people most at risk are those that cashed in their inflated equity on their property, presumably those from the USA and Europe.

Edited by scorp on Wednesday 8th October 12:28

[kambites]

Asterix said:

Why is this?

Because people there didn't borrow far more than they could reasonably afford to?

[Asterix]

kambites said:

Asterix said:

Why is this?

Because people there didn't borrow far more than they could reasonably afford to?

That's a good enough answer for me and it makes sense. It shows how fragile the whole shooting match is really.

[NoelWatson]

Asterix said:

Now I understand that some of the developed markets have been hit less hard by the recent times but I've noticed that countries (and these are random examples) like Argentina, Latvia, South Africa, Vietnam etc... (told you they were random) haven't been seen to be either newsworthy enough or simply are't being hit as hard.

Why is this?

By global, Brown mean U.S. and the U.K.

[kambites]

NoelWatson said:

Asterix said:

Now I understand that some of the developed markets have been hit less hard by the recent times but I've noticed that countries (and these are random examples) like Argentina, Latvia, South Africa, Vietnam etc... (told you they were random) haven't been seen to be either newsworthy enough or simply are't being hit as hard.

Why is this?

By global, Brown mean U.S. and the U.K.

Far from it. Look at the number of central banks which have heavily cut their interest rates today...

ETA: It is biting hardest in the US and the UK though because we were more idiotic in the amount of money we borrowed than the rest of the world.

Edited by kambites on Wednesday 8th October 12:47

[chris watton]

NoelWatson said:

Asterix said:

Now I understand that some of the developed markets have been hit less hard by the recent times but I've noticed that countries (and these are random examples) like Argentina, Latvia, South Africa, Vietnam etc... (told you they were random) haven't been seen to be either newsworthy enough or simply are't being hit as hard.

Why is this?

By global, Brown mean U.S. and the U.K.

Not being in the UK at the mo, I agree, it seems the news here is talking about the bad state of the US and UK economies. Not much, if any change here at the moment.....

[NoelWatson]

kambites said:

ETA: It is biting hardest in the US and the UK though because we were more idiotic in the amount of money we borrowed than the rest of the world.

Edited by kambites on Wednesday 8th October 12:47

That was my point.

[Chassis 33]

Latvia has been propped up with Russian and Scandinavian money, following a tax amnesty on investments into the country, which was in effect put money into our economy and we won't ask any questions about where it came from. I believe this came to an end earlier this year but has left the country in a fairly strong position. Added to a great work ethic from it population, I'm not surprised they're not in as much trouble as other nations.

Regards
Iain

[Chassis 33]

Have a quick read of http://www.amberlamb.com/index.php/a/n/00099-thriv... to start with from 2006, it more alluded to it that gives hard information.

Got some hard copy publications at home, I'll see if any of them are also on 'tinterweb with more detailed info.

Regards
Iain