thursday's trading, page-58

Australia is in a bet.......

Just kidding Malaz ;)

If you look at our production of goods (i.e. cars and other consumer items) it's been in decline for ages as we just can't compete on the world market for various reasons. Our high standard of living is one such reason. Chuck in a commodity bust and our dependency on credit as a nation for so long and I'm afraid it's time to pay for our sins. Sending our resources OS to produce stuff we buy back for more than we received for the resources isn't sustainable.

Chuck in a govenment that wants to put us into deficit and we aren't exactly looking good for a recovery. Spend our way out of a hole?? Yeah, that will work...

Before anyone calls me a labour hater, the libs gave us the money causing the housing market to bubble and now too many people have used that equity to purchase stuff that depreciates like cars and plasma's.

I blame poor financial education, not the government.

I'm afraid there will be much more pain before the good times come again. I want to be a bull but that's how I read the current situation.

I wonder if that's how some of the "not so young" posters on here see it too?