Wacko, we're not in a Recession

Yes agree, thank goodness for the previous government :))

Someone mentioned 4.6 million $ ,placed in bets tonight on the Origin game, what recession? lol

Jim,

It is people that have an attitude like yours that will help us deal with and get through what is happening.

You are right, it is not all doom and gloom.

It was pleasing to hear that Roadstar is to recommence building vans and it reflect the level of confidence that the new owners have in this great country of ours.

Bazza

Gee, thats why my company can only provide me with 3 and 4 days work each week. Hate to see what I would be doing if it really was doom and gloom.

Regards

Krakka

Despite our poloiticians of all flavours and our media's best efforts we survivied.

Talk about a bunch of doom and gloom merchants. Sure things were ugly, sure the American economy is a basket case.

Doesn't necessarily mean we are all going to end up in the Salvo soup kitchen!

There are some real positive signs coming out now people are realising they were for the most part conned into panicking in the share market.

Geoff

2 of my kids (young adults) work at the local casino, full time.

They are still getting calls saying "we have rostered too many staff on today - don't come in, but we will pay you a days leave so you don't lose $" etc.

Believe it or not patrons are staying away from betting sufficient to affect staffing levels.

Very few jobs appearing in the employment pages - less each week.

Answers from any employers seeking workers are rare, (unless you actually get the job).

World forecasts are for an even greater stock market crash starting late september / early november, now that stimulus packages have worn off.

The worlds largest corporation (General Motors) filed chapter 11 bankruptcy a couple days ago despite billions of Govt (Taxpayer) $ of bailout.

Even Toyota posted huge losses.

We are a heck of a long way out of the mire yet I am sorry to say, - no one likes to be a negative nancy & sure - there ARE people who are doing OK or better than they were - specially the retailers who benefitted from the Krudd 900 stimulus package.

http://www.asianews.it/index.php?l=en&art=15402&size=A

[quote]Signs of a new financial storm for September coming from Dubai and Saudi Arabia etc etc[/quote]

http://finance.yahoo.com/tech-ticker/article/248398/%22The-Worst-Is-Yet-to-Come%22-If-You%27re-Not-Petrified-You%27re-Not-Paying-Attention?tickers=^DJI,^GSPC,DDR,XLF,GM,RWR

[quote]"The Worst Is Yet to Come": If You're Not Petrified, You're Not Paying Attention[/quote]

http://www.bizjournals.com/pacific/stories/2009/06/01/daily23.html

[quote]California will run out of cash in 14 days[/quote]

OK - we can argue that most of these reports refer to USA - but something we need to remember, is that - when America sneezes - we catch a cold.
(Rather apt considering the swine flue epidemic/pandemic).

http://www.321gold.com/editorials/casey/casey052909.html

[quote]The Second Crash -
On the Way and Unstoppable[/quote]



The graph says it all - time to buckle up the fiscal seatbelts.

Wish it were different - but it ain't and theres little to be gained from wearing blinkers IMHO.

Cheers

Every time we put one of our casuals off thru lack or work we get busy again. Last month I employed the best guy we've ever had. Had to put him off last week but hopefully we will get him back as he went away for a week or so.

Still, there are people that aren't as well off as us. One of our suppliers dropped back to one shift and cut their staff by half. Their main customer pulled out of SA, taking half the business' turnover with it.

Louie