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blurgalurgalurga
Joined: 18 Oct 2007
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 Posted: Thu Nov 20, 2008 3:56 am Post subject: The Baseless Optimism Thread |
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Yay! Tomorrow the won will start getting better, and soon it'll be stronger than a tractor on 'roids. We'll all be rich, rich, rich!
Ok, your turn... |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Thu Nov 20, 2008 4:09 am Post subject: |
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| Maybe for a period of several weeks, next year, the won will be seen as a safe haven and investors will push the won to 100 won to the dollar. |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Thu Nov 20, 2008 4:41 am Post subject: |
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The Korean economy will lumber through these uncertain times and come out in Feb. not too much the worse for wear.
The Won has pretty much bottomed out, but will continue through Feb. to be buffeted by the winds of change.
As the overall global picture becomes clearer the U.S. dollar will no longer be seen as a safe haven and will drop in value.
June of next year we will all be looking at an 800 Won exchange rate, with that "I can't believe we survived that" look on our faces people have after a natural disaster.
Shut up and let me dream! |
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Straphanger
Joined: 09 Oct 2008
Location: Chilgok, Korea
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| Posted: Thu Nov 20, 2008 4:54 am Post subject: |
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| T-J wrote: |
| June of next year we will all be looking at an 800 Won exchange rate, with that "I can't believe we survived that" look on our faces people have after a natural disaster. |
That's bull pucky, boy. You're only saying that because that's what happens every time the global economy tanks. |
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maddog
Joined: 08 Dec 2005
Location: Daegu
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| Posted: Thu Nov 20, 2008 5:05 am Post subject: |
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| I'm outta here on Wednesday for a 3 month vacation. My optimism is very VERY real. |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Thu Nov 20, 2008 5:06 am Post subject: |
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| Straphanger wrote: |
That's bull pucky, boy.
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Read the thread title, no negativity allowed here, only baseless optimism.
The U.S. economy is in its death throes and the world just hasn't caught on yet. In another six months no one will want to buy a worthless dollar. Inflation and 20% interest rates will make the seventies look like the good old days. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Thu Nov 20, 2008 1:01 pm Post subject: |
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| I'm operating on the principle that history repeats itself exactly. I saw Korea come out of the economic crash of '97 very fast so I'm expecting it to do it again. So much so that I shuffled some more money out of my savings account into my fund yesterday. |
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bede777
Joined: 26 Oct 2008
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| Posted: Thu Nov 20, 2008 3:48 pm Post subject: |
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| The fundamentals are sound! |
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Omkara
Joined: 18 Feb 2006
Location: USA
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| Posted: Thu Nov 20, 2008 4:07 pm Post subject: |
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| Ya-ta Boy wrote: |
| I'm operating on the principle that history repeats itself exactly. I saw Korea come out of the economic crash of '97 very fast so I'm expecting it to do it again. So much so that I shuffled some more money out of my savings account into my fund yesterday. |
How long did it take to recover in '97? |
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Yu_Bum_suk
Joined: 25 Dec 2004
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| Posted: Thu Nov 20, 2008 4:46 pm Post subject: |
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| Now Koreans will finally realise the importance of an open, transparent economy with no red tape for foreigners doing business here; foreign direct investment will soar leading to a skyrocketing won as Koreans thoroughly stamp out corruption and give actual prison time to corrupt CEOs. |
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flakfizer
Joined: 12 Nov 2004
Location: scaling the Cliffs of Insanity with a frayed rope.
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| Posted: Thu Nov 20, 2008 6:10 pm Post subject: |
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| Omkara wrote: |
| Ya-ta Boy wrote: |
| I'm operating on the principle that history repeats itself exactly. I saw Korea come out of the economic crash of '97 very fast so I'm expecting it to do it again. So much so that I shuffled some more money out of my savings account into my fund yesterday. |
How long did it take to recover in '97? |
Depends what you mean. I don't agree with yata, here. The won was around 800 to the dollar before the crisis, fell nigh 2000 won to the dollar, but rather quickly got back up to 1200. Where it stayed for quite a while. So, it quickly "came out of the economic crash" only partially. It was what, 8 or 9 years later that the won finally broke the 1000 won to dollar mark?
EDIT: But back on point, I am hopefull that history will repeat itself, but much more quickly this time and the won will be to 1000 per dollar in 2 years. Korean school and hagwons will also recognize that won is weak and will start offering 20 to 30 percent more in their contracts.  |
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fruitcake
Joined: 18 Apr 2004
Location: shinchon
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| Posted: Thu Nov 20, 2008 8:02 pm Post subject: |
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| the Korean government will be able to prop up the won through April of next year and the exchange rate to US $ will be 1150 in February. |
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maddog
Joined: 08 Dec 2005
Location: Daegu
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| Posted: Thu Nov 20, 2008 10:12 pm Post subject: |
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| Yu_Bum_suk wrote: |
| Now Koreans will finally realise the importance of an open, transparent economy with no red tape for foreigners doing business here; foreign direct investment will soar leading to a skyrocketing won as Koreans thoroughly stamp out corruption and give actual prison time to corrupt CEOs. |
I saw pink elephants and flying pigs on my way to work today. And an ajumma said 'excuse me'. |
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espoir
Joined: 09 Oct 2008
Location: Incheon, South Korea
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| Posted: Thu Nov 20, 2008 10:20 pm Post subject: |
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| Underneath hooker hill oil will suddenly be discovered and the days of Korean economic woes will forever be over, but much to the shagrin of american soliders and seedy koreans who will whin and moan of the days before oil and how good things were back then, at least back then they were gaurenteed happy endings. |
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bobranger
Joined: 10 Jun 2008
Location: masan
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| Posted: Fri Nov 21, 2008 1:27 am Post subject: |
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| 14-3-09 the won will be 1023 to the dollar |
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