Australia to miss recession

[Jovial Monk]

So says BIS Shrapnel.

http://www.abc.net.au/news/stories/2009 ... 520741.htm

But businesses will have trouble investing, so we will go through a credit squeeze--been going through those since '57! Good thing Ruddybank will ensure commercial construction projects will complete. Hopefully the bank will also provide fianance for business investments.

That said, not sure I believe that projection, but would be nice if true. Fibs wouldn't be liking that we will miss a serious recession.

[JW Frogen]

It was supposed to rain today, it did not.

[Postul8]

Bit hard to avoid the oncoming train when you're trapped in the tunnel

[Aussie]

Well, Rudd has stood at the low water mark, and held out his hand to stop the incoming tide.

Apparently, it is having no effect.

[Hebe]

We're already in it. Is anyone here feeling any ill-effects? Other than anxiety, which I suppose will be with us for a long time. Library usage is steadily going up as we're free. Ironically that probably also protects my job.

I think we're about to have a pay freeze imposed by the government, which makes sense - except they're about to spend 2 million bucks putting lights on our cricket field so we can have ONE day-night match next summer.

Tasmania - beautiful state, shit politicians.

[mantra.]

Is anyone at all concerned about the billions in handouts Rudd has given - twice to some, the guarantees for mortgages for those out of work now, the guarantees to banks, foreign investment and borrowings, guarantees to car yards, car manufacturers.

Some say the sub-prime crisis hasn't hit us fully yet. What do you think will happen if Rudd's guarantees are called upon? Every single Australia will owe about $800,000 - even babies.

You had better hope that our economy doesn't crash - there will be no future for Australia if it does and someone will "own" us. Maybe it will be the Chinese and our kids will end up working for a bowl of rice a day to pay off Australia's debt.

Why is our government borrowing half a billion dollars a week from the Chinese?

[skippy]

Is anyone at all concerned about the billions in handouts Rudd has given - twice to some, the guarantees for mortgages for those out of work now, the guarantees to banks, foreign investment and borrowings, guarantees to car yards, car manufacturers.

Some say the sub-prime crisis hasn't hit us fully yet. What do you think will happen if Rudd's guarantees are called upon? Every single Australia will owe about $800,000 - even babies.

You had better hope that our economy doesn't crash - there will be no future for Australia if it does and someone will "own" us. Maybe it will be the Chinese and our kids will end up working for a bowl of rice a day to pay off Australia's debt.

I dont know mantra, nobody does,I know free money is foreign to us baby boomers but this whole financial crisis is foreign to the whole world.
It seems the direction that Rudd has taken is aplauded by most other world leaders and the treasury head of the USA , In simple terms I can see the reasoning of the handouts, if the money is spent at shops those shops stay in bussiness, if not, those shops close. Now I suspect the package has given many companies an extra couple of months at best,so what happens in the next few months will be make or break for all of us, if Australian icons like holden go bust the flow on effect will be dire, the lack of confidence that will occur will be lethal to our economy and our life style.
I'm trying to be positive about it all but to be honest,I think we are already gone as a nation that can stand on our own two feet as exporters of anything other than Uranium ,and all our kids and grandkids really have to look forward to is a good waiters job in tourism.
This was always going to happen anyway, its just that its occured a few years earlier than expected.

[mantra.]

I dont know mantra, nobody does,I know free money is foreign to us baby boomers but this whole financial crisis is foreign to the whole world.
It seems the direction that Rudd has taken is aplauded by most other world leaders and the treasury head of the USA , In simple terms I can see the reasoning of the handouts, if the money is spent at shops those shops stay in bussiness, if not, those shops close. Now I suspect the package has given many companies an extra couple of months at best,so what happens in the next few months will be make or break for all of us, if Australian icons like holden go bust the flow on effect will be dire, the lack of confidence that will occur will be lethal to our economy and our life style.
I'm trying to be positive about it all but to be honest,I think we are already gone as a nation that can stand on our own two feet as exporters of anything other than Uranium ,and all our kids and grandkids really have to look forward to is a good waiters job in tourism.
This was always going to happen anyway, its just that its occured a few years earlier than expected.

You're right - it was going to happen Skippy. We could see it escalating under Howard. Perhaps if we had paid attention or were more aware of what was going on - we would have realised that it started long before Howard - in the 70's while we were having too much fun to bother about what the politicians were doing to the country.

[Jovial Monk]

The borrowings will be paid off as the economy recovers and the upper-middleclas welfare is wound back. All this talk of our kids being burdened by debt is crap peddled by lying idiots like DT.

[mantra.]

The borrowings will be paid off as the economy recovers and the upper-middleclas welfare is wound back. All this talk of our kids being burdened by debt is crap peddled by lying idiots like DT.

No Monk - you're wrong. Some of us can think and see for ourselves what is happening. DT influences no-one. I am not a Labor supporter - I vote Green remember, but even labor voters are worried about the direction Rudd is taking Australia in by getting into so much debt and giving all these guarantees, especially as the full ramifications of the sub-prime crisis hasn't hit us yet. I have no faith in either of the major political parties - they are as bad as each other.