Join our investing community

Wake Up And Smell The Downturn

Discussion in 'The Economy' started by Chris C, 1st Apr, 2009.

  1. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
    Posts:
    1,327
    Location:
    Brisbane, QLD
    Business Spectator - Wake up and smell the downturn - Alan Kohler

     
    Last edited by a moderator: 1st Apr, 2009
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    I say the same thing as well
    when will it begin and what economic crisis?
    It's only an economic dowturn and mostly because of fear
     
  3. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi BV,

    I agree with you. Though there are far too many scared people who don't understand...Self-fulfilling prophecy!

    ..."Geithner said yesterday in a Bloomberg Television interview that there are “encouraging signs” that financial markets are recovering and praised international efforts to counter the economic crisis."

    Stocks Rise Around the World on Economy; Treasuries, Yen Drop - Bloomberg.com

    Cheers,

    Dan
     
  4. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Oh how public sentiment induces fear....
    We really are sheep at times aren't we?
     
  5. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Let's say we are good followers :D
     
  6. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Bbaahh!

    (marginally better than being a lemming)
     
  7. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
    Posts:
    1,327
    Location:
    Brisbane, QLD
    So I guess you all seemed to have missed the critical message that Alan very stealthy hid in the title of the article:

    Wake Up And Smell The Downturn!

    :D

    I think the better question is not whether we as the Australia public are sheep, it is whether we are lambs heading to the slaughter house...
     
  8. lorrimer

    lorrimer Well-Known Member

    Joined:
    4th Jun, 2006
    Posts:
    193
    Location:
    Brisbane, Queensland
    I used to read the Business Spectator religiously every day. However recently I have become sick of the negative tone of every article they publish. Sure things are not good, but there are a few promising signs beginning to emerge. House prices here in the UK were up 0.9% in March for the first time since 2007 for example. It's about time the media started talking about the positive things that are happening rather than the negative things that could happen.
     
  9. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    lorrimer
    Very good point there and when that happens, Chris will change his tune as well...;)
     
  10. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
    Posts:
    1,327
    Location:
    Brisbane, QLD
    I don't like the media at the best of times, but you guys keep going on about the real problem being "people aren't positive enough" but that just proves that the system is VERY broken.

    I won't go on with a 4 page rant like I normally do because I'm getting over the whole wearing my heart on my sleeve thing (too much effort is required on my part) and would rather just leave everyone to be the masters of their own destinies, but for me I don't care if market finds new confidence in ignorance because the system will still be based on sentiment and credit growth rather than production and hard work and ultimately reality would bite again in the not too distant future.

    My happiness and sentiment is not derived from a stock market level or house price growth; mine is derived from knowing that we operate in a system that is fair and equitable that is driven by simple realities rather than mass illusion. I know this is distant and maybe unrealistic dream, but I will cling to hope for the sake of others and my own sanity...