It's confirmed. Denmark has become the first developed country and the first in Europe to officially classified as undergoing recession, after two successive quarters of negative GDP growth. Denmark's economy has shranked by 0.2 percent in the 4th quarter of 2007 and by 0.6 percent in the 1st quarter of 2008. With inflation being at 18-year high, the situation does not seem to be improving.
Some economists projected that Ireland, Spain, Portugal, and Italy as being countries where recession is most likely next.
In Britain, house prices have declined for eight consecutive months, with the expectation that this slump will spread throughout the economy. It appears that house prices had declined more than at any time since 1992!
Despite all the problems in US, its GDP growth is still hanging on by a thread as it reported 1.9% growth in the second quarter, following the 0.9% growth in the 1st quarter.
What about Asia and the Pacific rim? While it does not look likely for Asian countries to head into recession any time soon as economic growth is still strong albeit signs of slowing, with both China and India in the fore front, the same cannot be said about New Zealand. New Zealand's economy shrank 0.3% in the 1st quarter of 2008 and is likely to shrink again in the 2nd quarter. The drought that happened earlier in the year appeared to have cause major damages to the economy, to the extent of possibly knocking 1% off the GDP.
Well, my dear sister live in Hamilton, New Zealand, and she works in a bank. Perhaps she could give me a better reflection of the real situation there....
Thursday, August 7, 2008
Recession: It's Time To Count The Goose!
Subscribe to:
Post Comments (Atom)
4 comments:
Recession is a great time to make money, with he right strategies and mindset.
along with building the skills for Wealth Creation, we also understand the utmost importance of Building the Mindset for Wealth Creation. As an active investors, we know that without the right control of your own Mindset, it is easy to lose the momentum of Wealth Building.
This is evident with those who WIN BIG at gambling or lotto or even mining. Some years ago we had an opal mine in central Australia. One of the miners struck a very profitable seam of opal..over $1M worth of beautiful opal. This was not his first $1M find, but his focus was on finding Opal, not building wealth. He had a big weekend in the city, and lost the lot, in one weekend, in the Casino. Plenty more where that came from, right? Well the Opal has run out now and he's still scratching for a living.
We all know the stories of celebrities, who thorough their talents have earned Millions in a short time, to find that their personal lives are in ruins.
Often publicised in the press are the stories of the "filthy rich" who obtaing their wealth by ripping their fellow humans off, or by trading illegally.
Yet there are many very wealthy people who are happy and well adjusted and continue to build their protfolios and help others who are interested to do the same.
The difference is their Mindset, linked with the skills and tools to continue building their lives in balance and prosperity, understanding there is plenty for all. These are the mentors we link with and who have helped us immensely in building our profitable investment portfolio. We don't invent new ways of making money, we just copy the proven, tried and trusted, lowrisk strategies of our self made Millionaire/Billionaire mentors.
What a privelege it is to link with such positive creative people, and to build towards our full potential in a balanced and prosperous life.
Regards
James
www.captainslacko.com
Indeed the fine line between success and failure lies greatly with the MINDSET. Having a right positive mindset is therefore an essential ingredient for success. Emulating the positive mindset in successful people is certainly one way to start off with.
I am so sick and tired of hearing about this recession! I just wish it happens soon so we can get over this. Recession is nothing new. It has happened before and if you look at America's economic history, you'll see that after every recession, we made it out very strong! I am pretty sure that the history will repeat itself :)
Webmaster
bad credit lenders
Hi zeeshan,
I agree.. it's frustrating when events fail to materialise in a decisive manner, causing a prolong drag on global economy and business outlook. To put it simply, nobody likes prolonged uncertainties, just like what is happening now!
We can however take consolation by virtue that there are often great opportunites lying ahead when there are deep crisis!
Post a Comment