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And they say it's not the bottom
The ASX (Australian Stock Exchange) has dropped 44% during this year. That's the worst on record and as bad as if not worse than the great depression of the 30's.
On the flip side, Australia is still not officially in recession yet. Fuel prices are at the lowest in years, as are interest rates (except on credit cards). Retailers are predicting a record spend this Christmas period (the official shopping period starts today). Brokers are predicting a return of investor confidence in the new year. I think someone should tell 'em they're dreamin'. |
Record spend this Xmas my arrrrrseeeee!
This stupid *bonus* money is the only way that might happen. |
The silliest thing is what the government wants people to spend it on. They are encouraging buying consumer appliances etc, and are worried that some people might squander it on beer and pokies. Thing is, if you buy a new TV most of the money goes offshore straight away, but if you buy beer and gamble, the money stays in Australia a little longer.
I'm off to help the economy :beer: . Seriously, if Kevin thinks Australia can single-handedly spend its way out of a global recession, he's dreaming. |
Yes, it's a sad sad state of affairs.
God I wish I could get sloshed this Christmas. You all just have no idea! :( |
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