Comments on: S&P Ends Six Week Run http://www.dailyreckoning.com.au/sp-ends-six-week-run/2009/04/27/ An independent perspective on the Australian and global investment markets Mon, 22 Mar 2010 05:22:21 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Greg Atkinson http://www.dailyreckoning.com.au/sp-ends-six-week-run/2009/04/27/comment-page-1/#comment-76051 Greg Atkinson Tue, 28 Apr 2009 08:54:56 +0000 http://www.dailyreckoning.com.au/?p=5762#comment-76051 Then again we do get some pretty awful reporting. I can tell you that the reports I read about Japan in the Australian media convey an image of a country about to implode when in fact due to pretty flexible labor laws, the place is holding up pretty well. Yes the economic data is bad..but that's life in a downturn. Personally I think we do have some people out peddling doom because it grabs attention, but the facts are that so far (touch wood) Australia is in a recession, not a depression and one reason some people are losing their heads is because there hasn't been a recession in Oz since the early 1990's. Sadly many people simply did not expect there ever to be a downturn. Could things get a lot worse, of course they could. But could does not equal will. Okay..back over the the bears :) Then again we do get some pretty awful reporting. I can tell you that the reports I read about Japan in the Australian media convey an image of a country about to implode when in fact due to pretty flexible labor laws, the place is holding up pretty well. Yes the economic data is bad..but that's life in a downturn.

Personally I think we do have some people out peddling doom because it grabs attention, but the facts are that so far (touch wood) Australia is in a recession, not a depression and one reason some people are losing their heads is because there hasn't been a recession in Oz since the early 1990's. Sadly many people simply did not expect there ever to be a downturn.

Could things get a lot worse, of course they could. But could does not equal will.

Okay..back over the the bears :)

]]> By: Pete http://www.dailyreckoning.com.au/sp-ends-six-week-run/2009/04/27/comment-page-1/#comment-76035 Pete Tue, 28 Apr 2009 05:10:42 +0000 http://www.dailyreckoning.com.au/?p=5762#comment-76035 Haha Laurie, it gets a bit like that. There appears to be a mismatch with the reality we currently live in, and the reality we 'should have' been living in, if we wanted sustainability. But they did used to call this a 'doom and gloom' eLetter, so that is what I have come to expect. I think the problem isn't so much the fact that the writers are gloomy, but rather that the future seems gloomy from their perspective. They just tell it like they see it. The only silver lining I can see is that there 'may' be a restructuring of the inequality of work conditions (eg Chinas vs USAs), some future generation will benefit from not having to pay for a previous generations retirement fund, and home prices being a reasonable ratio to wage levels. These things are clearly the opposite right now, so it could be quite a while before they all become a reality. Haha Laurie, it gets a bit like that. There appears to be a mismatch with the reality we currently live in, and the reality we 'should have' been living in, if we wanted sustainability.

But they did used to call this a 'doom and gloom' eLetter, so that is what I have come to expect. I think the problem isn't so much the fact that the writers are gloomy, but rather that the future seems gloomy from their perspective. They just tell it like they see it.

The only silver lining I can see is that there 'may' be a restructuring of the inequality of work conditions (eg Chinas vs USAs), some future generation will benefit from not having to pay for a previous generations retirement fund, and home prices being a reasonable ratio to wage levels. These things are clearly the opposite right now, so it could be quite a while before they all become a reality.

]]> By: Laurie http://www.dailyreckoning.com.au/sp-ends-six-week-run/2009/04/27/comment-page-1/#comment-75974 Laurie Tue, 28 Apr 2009 00:14:50 +0000 http://www.dailyreckoning.com.au/?p=5762#comment-75974 Well, here I go again. Wake up, feel good, have breakfast, turn on the 'puter, look at the news and The Daily Reckoning and jeez, I start to feel crook. But hell, I'm an optimist and say to myself 'Things cant/wont be as bad as all that' Can it???????? but I also acknowledge, we really f***** up this time..........Laurie Well, here I go again. Wake up, feel good, have breakfast, turn on the 'puter, look at the news and The Daily Reckoning and jeez, I start to feel crook.

But hell, I'm an optimist and say to myself 'Things cant/wont be as bad as all that' Can it???????? but I also acknowledge, we really f***** up this time..........Laurie

]]>