CFV or H3D??

[polypal]

Hi guys,

That was quite stupid of me to say something about the economical situation here not taking into account
what problems are present in the US.

Your economy is hit much harder than ours although a number of large banks in Europe do have problems.
Over here it all depends on trust in each other.
Besides the failing take over of a large Dutch bank by a consortium most problems come from lack of trust.
The national dept of most EU countries is quite low.
There do not seem to be any real problems except some in Iceland.

Besides that the old world is connected with the US in many ways.
For some strange reason the Dollar has gained about 10 percent in the last few days compared to the Euro.
Lets hope this thing will blow over soon with you as well.

Paul

 

[blowupster]

Strange that in Holland you think that you are in safty. Financial crisis is not finished. If you compar the one between 1999 and 2003 witch was not so strong at the gegining anyway, we have not reach the botom. Perhaps in spring 2009 the end of the financial crisis. But the crisis will not be only financial. You may wait a long time before all disapeard. If democrats win next month a psychological change may help. If not it will be very long.

The 1929 was not as big fall down as 2008 is !

A friend who work in finance told me that's ok for them because they are not in "subprimes". He was optinist. He told me that they did not loose any money in this but some custumers ...diseapared.
Perhaps here (in europe) we need time to understand that everything is conected and that we are not so strong. One month ago newpapers here wrote that the "Real Estate Market " was safer than financial. Now they admit that the Real Estate Market is the next step that allready beagan to blow in UK and spain.

The US poeple did not understand the real cost of wars and safty of the last years because weapon factories generate great profits and generate economy stimulations in short time. The rich Irak is now a poor state of america that only cost a lot of cash and lives to the US.

I hope that the crisis will finish in less than 5 years.
Some time I'm troubles by history:
28 june 1914 => 11 septembrer 2001
4/08/1914 => Afganistan and Irak war
october 1929 => summer 2007
1931 the crisis export to europe too. = Q2/2009 ?

 

[polypal]

The biggest asset in the financial world is trust.
That trust has been severely damaged. That damage can disappear in 6 to 12 months.
Of course this will not go unnoticed. Some effects may last quite a bit longer.
As far as I can see the damage now in Europe is for the largest part caused by lack of trust.

The situation in the US is not the result of damaged trust but of too many bad loans.
Bad consumer loans but also many highly dangerous financial products invented by people who were on the get rich quick track.
A total lack of government control on merchant banks in the US gave these banks unlimited possibilities to poison the financial world with their constructions.

After every crisis new measures are put into effect to prevent it happening again.

The worst news is that photography is a strongly cyclic activity.
Only in times of economic growth will photography flourish.