PPRuNe Forums - View Single Post - Global Recession and Credit Crunch affect in UAE?
Old 15th Jun 2008, 18:05
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Geebz
 
Join Date: Nov 2006
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It's all a zero sum game. A shift in wealth.

The wealth is shifting out of the western developed countries and into the M.E. and so-called BRIC (Brazil, Russia, India, China) economies. These sorts of things take years to gain traction, as they finally have now, and hence years to unwind, as will not happen for a long time.

IMO, there is and will continue to be plenty of opportunity in the M.E./ BRIC economies until the western world overhauls it's policies to effectuate proper economic turn-around.

The US Fed MASSIVELY screwed up. They wait too long to cut rates. And when they eventually did they went too far in the cut. Now they will be chasing inflation for years to come. Until they get ahead of inflation, they will be forced to continue to raise rate... for the very reason of reining in inflation. It boils down to choosing between the economy or inflation (strength of the greenback) at this point.

Ironically, suddenly we US pilots are able to look at overseas contracts with great interest as our own currency makes us competitive with pilots of other nationalities again. I've gotta' believe that it's much harder for an established Euro-zone pilot to leave his job for a US dollar denominated contract.

Last edited by Geebz; 22nd Jun 2008 at 00:21.
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