Wacko, we're not in a Recession

Submitted: Wednesday, Jun 03, 2009 at 22:15
ThreadID: 69487 Views:2587 Replies:7 FollowUps:9
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It's official. Australia is not in a recsession. In fact our economy is growing (modestly) whilst the rest of the developed world is in dire straights.

We can all get along and travel, enjoy our holidays and our jobs are safe.

It's not all doom and gloom my friends, we are OK in this fine land.

Jim.

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Reply By: equinox - Wednesday, Jun 03, 2009 at 22:20

Wednesday, Jun 03, 2009 at 22:20
Yes agree, thank goodness for the previous government :))
Looking for adventure.
In whatever comes our way.

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Follow Up By: Member - Axle - Thursday, Jun 04, 2009 at 17:41

Thursday, Jun 04, 2009 at 17:41
DITTO!..)))



Cheers Axle.
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Reply By: Member - Uncle (NSW) - Wednesday, Jun 03, 2009 at 22:23

Wednesday, Jun 03, 2009 at 22:23
Someone mentioned 4.6 million $ ,placed in bets tonight on the Origin game, what recession? lol
AnswerID: 368322

Reply By: fivedee - Wednesday, Jun 03, 2009 at 22:52

Wednesday, Jun 03, 2009 at 22:52
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
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Follow Up By: Best Off Road - Thursday, Jun 04, 2009 at 06:33

Thursday, Jun 04, 2009 at 06:33
Baz,

I hadn't heard that, but it certainly is good news.

Cheers,

Jim.
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Reply By: Krakka - Thursday, Jun 04, 2009 at 07:33

Thursday, Jun 04, 2009 at 07:33
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
AnswerID: 368346

Reply By: Geoff (Newcastle, NSW) - Thursday, Jun 04, 2009 at 09:46

Thursday, Jun 04, 2009 at 09:46
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

Geoff,
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Follow Up By: Best Off Road - Thursday, Jun 04, 2009 at 09:59

Thursday, Jun 04, 2009 at 09:59
Very true Geoff.

From September to December last year we felt the pinch in a big way. I put this down to Rudd overtalking the doom and gloom and the media going along for the ride.

Then came January and it was like someone had turned the tap back on. It would seem people had their Christmas break and realised; I've still got a job, interest rates are down, fuel is cheaper etc. Ipso facto I'm actually better off than I was a year ago.

Cheers,

Jim.



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Follow Up By: get outmore - Thursday, Jun 04, 2009 at 11:02

Thursday, Jun 04, 2009 at 11:02
I have mixed feelings on this - there is no question jobs are being shed - we had another 12 go the other day to go on top of the 60 odd in january.

many projects and expansions have been delayed/shelved

my pay has been cut

but as said some things have become cheaper, shops are still very busy.
I cant help but think alot of it has been an overreaction. certainly at work there are shortages in some areas.

I beleive as we come out of this especially in WA these companys will try and man up again after drastic cuts at the same time as contractors are trying to do the same thing as much needed and now overdue projects come back on line. Unfortunatly for them many of the interstate and overseas (NZ) people that lost there jobs will have gone home and we will once agin see an employees market
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Follow Up By: Member - Brenton H (SA) - Thursday, Jun 04, 2009 at 12:11

Thursday, Jun 04, 2009 at 12:11
We really have reached a new level of boredom when we have to stoop to politics and the economy on a 4WD exploroz forum

brenton
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Follow Up By: Member -Signman - Thursday, Jun 04, 2009 at 12:59

Thursday, Jun 04, 2009 at 12:59
Interesting obseravtion Brenton-
but would you believe some people on this Forum even rave on about (yawn) FOOTBALL !!!!!
I guess that's even a lower level of boredom.

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Follow Up By: Geoff (Newcastle, NSW) - Thursday, Jun 04, 2009 at 14:15

Thursday, Jun 04, 2009 at 14:15
Hi Brenton,
Personally I think the economy is very relevant to ExploreOz, if heaven forbid the economy turns into enough of a basket case there will be no more ExploreOz.

People like Jim from Best Offraod and the other advertiser are directly reliant on a healthy and breathing economy.

I know mine and a lot of other peoples 4WD'ing aspirations are directly dependent on the economy.

Sick economy = No employment = No 4WD'ing = No ExploreOz advertisers = No ExploreOz.

One could also comment on the level of boredom required to comment in a thread one finds boring too??

Geoff

Geoff,
Landcruiser HDJ78,
Grey hair is hereditary, you get it from children. Baldness is caused by watching the Wallabies.

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Follow Up By: Member - Old Girl (QLD) - Thursday, Jun 04, 2009 at 15:48

Thursday, Jun 04, 2009 at 15:48
We would be heading for WA at the end of the year if it wasnt for the interest rates and fuel prices last September. Put the brakes on our plans very quickly. Sick of hearing about it on the tv and news papers. On the Forum I can choose to read it.
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Reply By: Flywest - Thursday, Jun 04, 2009 at 14:31

Thursday, Jun 04, 2009 at 14:31
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
AnswerID: 368386

Follow Up By: Member - Tony & Julie (FNQ) - Thursday, Jun 04, 2009 at 16:51

Thursday, Jun 04, 2009 at 16:51
Have to agree with you - There may be more pain to come yet - simple economics - how do you pay off so much bad debt?

Some borrow more to pay another debt, a bit like the government did. In the end you have to pay it all back.

To do this you have to stop spending and save, then put it back into debt.

Time will tell at least I have a lot of land to grow some vegies :-) Cheers Tony
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FollowupID: 635963

Reply By: Louie the fly (SA) - Thursday, Jun 04, 2009 at 18:30

Thursday, Jun 04, 2009 at 18:30
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
AnswerID: 368421

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