Like smokey said, the government is unable to dictate what companies do as they are privatized. They cannot have any say in what the company does/doesnt do therefore the only thing they can do is lessen the effect of economic downturn.

I remember someone saying recently that its all a load of shit. If this 'world recession' was not played on TV,radio and the internet, thus noone knew about it (or scared into it) and was told by the government to continue to spend, there would be no recession.

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Honda Hannspree Edition CBR 600 RR - SOLD
Yamaha FZ1N - Purchased

Exactly. For anyone that hasn't, watch Zeitgeist. Wether it is absolute truth or only part truth it is a real eye opener.

Back in the 20's American banks were lending out money for people to buy shares hand over fist (like they were not too long ago) and people were sucking it up like there was no tomorrow. There was a contractual obligation that all money lent in this way could be called back at 24hrs notice. Lo and behold the banks called the money back in, people had to sell there stocks, stock market crashed, Great Depression started. Fact or fiction it's still an interesting concept.

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No more GC8, sad face.
[SIGPIC][/SIGPIC]

Unfortunately, it's our lives that depend upon it

Oh well, if I end out joining the other million+ unemployed, at least I will get the overly generous benefit payments too. With the wife & 4 kids, the total of all payments is nearly $60k. I could stay at home and work on my cars...

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A nation of sheep will beget a government of wolves.

It's not that simple - the worlds money has dried up.

"toxic" Debts held by some banks have meant other banks dont trust each other and so no one will give out money. When there is no money there is no spending. I have clients who's businesses are having existing loans withdrawn sending them to the wall. Many people want loans but cant get them.

It is a cycle that repeats itself - you are right, money was too easy to obtain, but unfortunately, now it is too hard.

The downturn will continue until funds are freely available again.

Businesses mainly use debt to fund expansion - people spending wont provide enough funds, only debt.

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Arguably my Automobile is Awash with Alliteration - Subaru Sti S202

prior to this amazing global financial crisis (admittedly the good ole us of a has been broke for 3+ years), Australia was in a healthy surplus - give the union sorry labor an open cheque book....and well history repeats.

I've planned ahead nonetheless, so you can either sit on your arse and bitch and moan, or do something with it and reap the benefits. im quietly confident this current 'market' has taught some people the true value of investment and calculated risk.

Prior Planning Prevents Piss Poor Performance - someone should email that to Wayne.

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www.racewars.com.au

Agreed 100%. The thing is that those under 30 have not known what it is like to not be able to get a job at will. This has not promoted any loyalty amongst employees and only now are they starting to realise that the wheel is turning and in many cases it is too late. They have always had access to cheap money (i.e. low interest rates since they were over 18) and have accepted credit card debt as a way of life. They have been able to earn silly money ($25+ / hr as a totally unqualified labourer). If they lost their job they do not have any savings and have to rely on the 'gummint' for handouts.

I know in my business we have laid off a couple of guys. The ones that have gone are the ones that would always hold you to ransom for another pay rise when they knew I had no other option. Also the trouble makers are gone. Dont get me wrong. These guys have been replaced but at the moment you can replace people whereas 12 months ago you really had to work with what you had and pay these guys drug money to keep the peace.

We also have a lot of trouble getting our guys to look after some of our gear. Generally speaking most of them dont give a shit. i.e. it breaks we will grab a new one and keep going. In the last couple of months I have had different people replace a digital camera they lost, a makita cordless drill and something else. They realise that they need to take some ownership whereas before they would have come to me and said brendon, i lost my camera I need a new one for tommorow.

Assuming you have a job I think the current situation is great. Will bring all these people that have bitten off more than they can chew back to reality and might make the drop kicks that look like they fell over in a fish tackle box and have hair 5 different colours realise that until they start acting like a normal person they will not be able to get a decent job.

Brendon

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Losing is worse than death. You have to live with losing....

LOL

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JDM version 3 STi RA

I believe they call it an 'economic cycle'. Whilst it went up, it has to come down at some stage, just like it will go back up at some stage, so i think you'll be seeing those retards with stupid hair again, Brendon :P.

I spose you could simplfy the current situation to that of a bear in the wilderness. A bear(person) knows that winter(economic downturn) is coming eventually, so it will gather all its food(investments/assets) and berries(beer) to keep it and its family alive during the winter hibination(economic downturn).

So when compared to the people of today, some people are actually less intelligent then a bear. Thats scarey. And they my friends, drive cars. Yes, thats right, people less intelligent then a bear, driving a car. Go figure.

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Honda Hannspree Edition CBR 600 RR - SOLD
Yamaha FZ1N - Purchased

Some Bears (people) didnt believe winter was coming so got caught out in the cold!

Unfortunately winter was warned about but there was no certainty as to when it would arrive, how cold it will be and how long it will last.

The real Bears have it easy!

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Arguably my Automobile is Awash with Alliteration - Subaru Sti S202

I'm going to be getting made redundant after 6 years at my job (web designer for a miner) but I have been expecting the down turn too so will be fine. Still sucks though, I hope it doesnt take too long for things to return to a sustainable level of growth.

Glad I didnt listen to my financial adviser
"maximise your debt, everything gets more expensive, buy an investment property now" I just put more into my mortgage instead. Wonder how many people went bust because of financial advice.

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betty banger