Official Recession Thread

[Maserati]

There will be a point if time when we have to stop being so damn dependent on our depleting oil reserves!......agriculture ,manufacturing and tourism should be our focus but what do we do to improve these areas ?

but doesnt tourism raise GDP? alot of locals in countries that depend on tourism cant afford land, food etc?
agriculture.. what happened to the farms the government promised? sigh.. the only thing them fackers coming tru with is housing schemes..

The recession? i predict, the PNM will lose the next elections because of how badly they fked up our country, some party will come and clean up everything.. then them dotish PNMites will go back to their beloved manning for another 20 years.

with regards to tourism..many tourist from N.America and Europe will be scaling back on their spending and an expensive trip to the Caribbean may not be on their plans.

[AbstractPoetic]

Ok ..so oil prices will reach an all time low very soon. Who here understands the economics of the situaton? .....plz enlighten me.

I was thinking ....if we cannot get good prices for our oil right now ...why dont we just stop pumping until prices go back to normal...In the mean time we can find some other source of income...I mean after all the oil not running away from the ground....I'm thinking pretty soon the price will go back to normal and we can get top dollar for our oil.

Are the oil suppling contracts binding in such a way that we must keep supplying no matter what or do we have the option to not supply?........let me hear your views .... i dunno much bout how this oil thing works

Not pumping oil/exploiting gas reserves means not having a sustainable economy. The Trinidadian economy is heavily dependent on its gas production to LNG and domestic markets. If Trinidad stops pumping, then foreign reserves will be non-existent.

Little to no foreign reserves = Somalia FTW.

But the proven + possible gas reserve estimates has diminished. Consultants have already predicted that the gas reserves of Trinidad & Tobago may not even last another 15 years. And seeing how there has been no major discoveries to date (unless the government is willing to invest billions more in discovery), the Trinidad of tomorrow will look more like the Haiti of today.

Moreover, with the change in US government and more European nations intent to divert from oil consumption to sustainable energy/solar power etc., Trinidad's days are numbered.

It's inevitable. Time to pack your bags or enter a field where your degree/education is not transfixed to one economy or one region.

I highly suggest law or medicine. IT as well, though, even that has become more global.

Globalization FTW!

Adios Trinidad.

[16 cycles]

Ok ..so oil prices will reach an all time low very soon. Who here understands the economics of the situaton? .....plz enlighten me.

I was thinking ....if we cannot get good prices for our oil right now ...why dont we just stop pumping until prices go back to normal...In the mean time we can find some other source of income...I mean after all the oil not running away from the ground....I'm thinking pretty soon the price will go back to normal and we can get top dollar for our oil.

Are the oil suppling contracts binding in such a way that we must keep supplying no matter what or do we have the option to not supply?........let me hear your views .... i dunno much bout how this oil thing works

Not pumping oil/exploiting gas reserves means not having a sustainable economy. The Trinidadian economy is heavily dependent on its gas production to LNG and domestic markets. If Trinidad stops pumping, then foreign reserves will be non-existent.

Little to no foreign reserves = Somalia FTW.

But the proven + possible gas reserve estimates has diminished. Consultants have already predicted that the gas reserves of Trinidad & Tobago may not even last another 15 years. And seeing how there has been no major discoveries to date (unless the government is willing to invest billions more in discovery), the Trinidad of tomorrow will look more like the Haiti of today.

Moreover, with the change in US government and more European nations intent to divert from oil consumption to sustainable energy/solar power etc., Trinidad's days are numbered.

It's inevitable. Time to pack your bags or enter a field where your degree/education is not transfixed to one economy or one region.

I highly suggest law or medicine. IT as well, though, even that has become more global.

Globalization FTW!

Adios Trinidad.

nice.........so you'll be good for a green card by then?

[~Street Sleeper~]

When allyuh think we will start to feel it here? cause oil dip below $53.00....Think cars will be cheaper?Like all them man who want to sell 10 year ol civic for all kinna 80K, think they go drop d price?

WHEN .. wha hole u from

[cornfused]

Ok ..so oil prices will reach an all time low very soon. Who here understands the economics of the situaton? .....plz enlighten me.

I was thinking ....if we cannot get good prices for our oil right now ...why dont we just stop pumping until prices go back to normal...In the mean time we can find some other source of income...I mean after all the oil not running away from the ground....I'm thinking pretty soon the price will go back to normal and we can get top dollar for our oil.

Are the oil suppling contracts binding in such a way that we must keep supplying no matter what or do we have the option to not supply?........let me hear your views .... i dunno much bout how this oil thing works

Not pumping oil/exploiting gas reserves means not having a sustainable economy. The Trinidadian economy is heavily dependent on its gas production to LNG and domestic markets. If Trinidad stops pumping, then foreign reserves will be non-existent.

Little to no foreign reserves = Somalia FTW.

But the proven + possible gas reserve estimates has diminished. Consultants have already predicted that the gas reserves of Trinidad & Tobago may not even last another 15 years. And seeing how there has been no major discoveries to date (unless the government is willing to invest billions more in discovery), the Trinidad of tomorrow will look more like the Haiti of today.

Moreover, with the change in US government and more European nations intent to divert from oil consumption to sustainable energy/solar power etc., Trinidad's days are numbered.

It's inevitable. Time to pack your bags or enter a field where your degree/education is not transfixed to one economy or one region.

I highly suggest law or medicine. IT as well, though, even that has become more global.

Globalization FTW!

Adios Trinidad.

i have never commented on you posts and sometimes i had to wonder how come you're perceived as the most hated female to pollute these forums , but this post has summed it up quite succinctly.

What economic developmental strategy had been pursued by the governments of Trinidad and Tobago as compared to an economic disaster that has plagued many African nations including Somalia and in our region Haiti ?

Are there other sectors that contribute to GDP, outside of hydrocarbons? what is the developmental status of these sectors?

I do hope you have something going for you, but it clear that economic conditions are not studied by many in this thread including you.

If you think in your economy in which you're not even a real citizen , you somehow want to portray what a good life you have or what the future holds for you.

Go strong.

[AbstractPoetic]

i have never commented on you posts and sometimes i had to wonder how come you're perceived as the most hated female to pollute these forums , but this post has summed it up quite succinctly.

Oh?

What economic developmental strategy had been pursued by the governments of Trinidad and Tobago as compared to an economic disaster that has plagued many African nations including Somalia and in our region Haiti ?

Read up on the IMF. Depletion of foreign reserves will be inevitable if Trinidad & Tobago does not research and invest in other industries that can sustain its economy and position in the global market. Somalia, amongst many Third World nations is just an example of those nations that had to turn to the IMF for monetary assistance because of non-existent foreign reserves.

Are there other sectors that contribute to GDP, outside of hydrocarbons? what is the developmental status of these sectors?

Direct this vital question to your country's leaders.

I do hope you have something going for you, but it clear that economic conditions are not studied by many in this thread including you.

I do have a lot going for me, thank you.

As for my stance, read it from those paid to do their research on Trinidad's economy. I guess its also "clear that economic conditions are not studied by many..." including these experts:

http://www.woodmacresearch.com/content/ ... f?hls=true

If you think in your economy in which you're not even a real citizen , you somehow want to portray what a good life you have or what the future holds for you.

Go strong.

1. I am a global citizen, holding citizenship in both the country in which this forum is based and that of others.

2. I have nothing to prove to you or others on this forum.

3. Perhaps your energy and opinions should be diverted from making personal attacks to actually discussing (and taking) steps that can help minimize the effects this recession will have on both you and citizens from your beloved country.

Go strong.

[-bushman-]

2. I have nothing to prove to you or others on this forum.

so why de fcuk you keep comin in here & posting a set of sh!t to get pple all riled up?
dont you hav a man or something to get some sex from? spend some time taking some pr!ck nah rather than come posting here where nobody wants you

[Mr. Cheese]

Today on Yahoo News......
http://biz.yahoo.com/investopedia/08111 ... -budgeting


7 Ways To Recession-Proof Your Life
Tuesday November 18, 11:09 pm ET

Amy Fontinelle



Are you worried about how a recession might affect you? You can put your fears to rest because there are many everyday habits the average person can implement to ease the sting of a recession, or even make it so its effects aren't felt at all. In this article, we'll discuss seven ways to do just that.

No. 1: Have an Emergency Fund
If you have plenty of cash lying around in a high-interest, Federal Deposit Insurance Corporation (FDIC)-insured account, not only will your money retain its full value in times of market turmoil, it will also be extremely liquid, giving you easy access to funds if you lose your job or are forced to take a pay cut. Also, if you have your own cash, it won't be an issue if other sources of backup funds dry up, such as a home equity line of credit.
ADVERTISEMENT


No. 2: Always Live Within Your Means
If you make it a habit to live within your means each and every day, you are less likely to go into consumer debt when gas or food prices go up and more likely to adjust your spending in other areas to compensate. Debt begets more debt when you can't pay it off right away - if you think gas prices are high, wait until you're paying 29.99% annual percentage rate (APR) on them.

To take this principle to the next level, if you have a spouse and are a two-income family, see how close you can get to living off of only one spouse's income. In good times, this tactic will allow you to save incredible amounts of money - how quickly could you pay off your mortgage or how much earlier could you retire if you had an extra $40,000 a year to save? In bad times, if one spouse gets laid off, you'll be OK because you'll already be used to living on one income. Your savings habits will stop temporarily, but your day-to-day spending can continue as normal.

No. 3: Have More Than One Source of Income
Even if you have a great full-time job, it's not a bad idea to have a source of extra income on the side, whether it's some consulting work or selling collectibles on eBay. With job security so nonexistent these days, more jobs mean more job security. If you lose one, at least you still have the other one. You may not be making as much money as you were before, but every little bit helps.

No. 4: Have a Long-Term Mindset With Investments
So what if a drop in the market brings your investments down 15%? If you don't sell, you won't lose anything. The market is cyclical, and in the long run, you'll have plenty of opportunities to sell high. In fact, if you buy when the market's down, you might thank yourself later.

That being said, as you near retirement age, you should make sure you have enough money in liquid, low-risk investments to retire on time and give the stock portion of your portfolio time to recover. Remember, you don't need all of your retirement money at 65 - just a portion of it. The market might be tanking when you're 65, but it might be headed to Pamplona by the time you're 70.

No. 5: Be Honest About Your Risk Tolerance
Yes, investing gurus say that people in certain age brackets should have their portfolios allocated a certain way, but if you can't sleep at night when your investments are down 15% for the year and the year isn't even over, you may need to change your asset allocation. Investments are supposed to provide you with a sense of financial security, not a sense of panic.

But wait - don't sell anything while the market is down, or you'll set those paper losses in stone. When market conditions improve is the time to trade in some of your stocks for bonds, or trade in some of your risky small-cap stocks for less volatile blue-chip stocks. If you have extra cash available and want to adjust your asset allocation while the market is down, however, you may be able to profit from infusing money into temporarily low-priced stocks with long-term value.

The biggest risk is that overestimating your risk tolerance will cause you to make poor investment decisions. Even if you're at an age where you're "supposed to" have 80% in stocks and 20% in bonds, you'll never see the returns that investment advisors intend if you sell when the market is down. These asset allocation suggestions are meant for people who can hang on for the ride.

No. 6: Diversify Your Investments
If you don't have all of your money in one place, your paper losses should be mitigated, making it less difficult emotionally to ride out the dips in the market. If you own a home and have a savings account, you've already got a start: you have some money in real estate and some money in cash. In particular, try to build a portfolio of investment pairs that aren't strongly correlated, meaning that when one is up, the other is down, and vice versa (like stocks and bonds).

No. 7: Keep Your Credit Score High
When credit markets tighten, if anyone is going to get approved for a mortgage, credit card or other type of loan, it will be those with excellent credit. Things like paying your bills on time, keeping your oldest credit cards open, and keeping your ratio of debt to available credit low will help keep your credit score high.

Conclusion
The best part about these habits is that they won't only serve you well during times of recession - they'll serve you well no matter what's going on in the market. But if you implement these financial strategies, a recession is less likely to have a significant effect on your financial situation.

[NuffRespect]

i guess recession really hitting globally.....first Suzuki pulled out of rally in T&T, now they out of WRC, and guess what.....they carrying Subaru also....whos next??

[mirror]

http://www.reuters.com/article/sportsNe ... ZD20081216

[Shaquon]

that was always coming...

TT is pretty insulated so we haven't been hit fully yet but as time goes on we will continue to be affected increasingly.

What might our 2009 season look like with competitors and sponsors tightening there fan belts and what adjustment might TTRC (exec and members) have to make sure that we don't end the year with 5 cars?

[partycrasher]

Hey Nuffrespect it didn't take recession for Suzuki to pull out of Rallying in Trinidad.It took Mr. and Mrs as!hole in a briefing to make Suzuki bow out,not recession..

[De Bench]

Hey Nuffrespect it didn't take recession for Suzuki to pull out of Rallying in Trinidad.It took Mr. and Mrs as!hole in a briefing to make Suzuki bow out,not recession..

This man speaketh the truth.

[NuffRespect]

Hahaha .i just didnt want to be the one to add fuel to the fire, lol.

[Ignorant Ignis]

would love to hear the rest of that story

[NuffRespect]

look at this folks....

http://www.wrc.com/jsp/index.jsp?lnk=10 ... 0the%20WRC

http://www.wrc.com/jsp/index.jsp?lnk=10 ... %20options

http://www.wrc.com/jsp/index.jsp?lnk=10 ... ru%20doesn’t%20rule%20out%20WRC%20return

[NuffRespect]

here is more folks.......

http://www.wrc.com/jsp/index.jsp?lnk=10 ... 0programme

[De Bench]

here is more folks.......
http://www.wrc.com/jsp/index.jsp?lnk=10 ... 0programme

Jed, how you sounding so depressed ?

[NuffRespect]

hoss....i depressed, is WRc, and a main entrant like Subaru out boy.....wait nah.. bench you car should be worth more now...ent???? lol

[De Bench]

bench you car should be worth more now...ent???? lol

That is why I took of the market, I'm keeping it, 130/555 bro, it's not easy to get another one.

[wagon r]

^ doh even get me started....

[Rallyfignis]

would love to hear the rest of that story

I would like to hear it myself

[Dion76]

EVO's are available at ur local pet shops

[De Dragon]

Wha' boost dem dorg runnin'?

[Dion76]

better question is who tuning dem

[De Dragon]

Awaits pios' entry to sour thread about kixxing at dogs' expense etc etc........

[equipped2ripp]

De Dragon, yuh nuh easyyy

[MISHI]

[W2J]

bro do you know how much real dog chow does cost??? I pay $5xx.xx bag science diet and it only last 2.5 weeks

[Dion76]

i know how much it costs pal..i own rotts and have to buy for them also