Economic pessimism

[gobbledonk]

I dont know about anyone else out there, but things arent looking too rosy in my part of the world (Brisbane) at the moment. On top of the downturn, terrorist attacks and corporate collapses, Mother Nature has chimed in with one of the worst droughts in recorded history, virtually decimating much of our expected agricultural income for a country which still does nicely off the 'sheeps back'.

 

At work, most of us are looking over our shoulders as management gets increasingly desperate in its attempts to keep the place afloat. It seems like yesterday that they were trawling the corridors of the local unis begging students to come and work for them ...

 

I know - the cycle will eventually return to 'good times', if history is any guide, but I would prefer it to happen sooner than later

 

 

[Guest]

Shit, it wasn't more than two weeks ago that I read the Australian economy was so hot the central bank was thinking about raising interest rates to cool it off.

 

You want to see a fucked-up economy, just look at America. Today they announced that consumer confidence is at a 9-year low. Job losses, war talk making everybody nervous. If the American consumer stops spending, the American economy is FUBAR.

 

 

 

 

[jp1]

You want to see a fucked-up economy, just look at America. Today they announced that consumer confidence is at a 9-year low.

 

Even better, look at Continental Europe and Japan, they're already fucked-up since nine or more years. People live with this problem and, like here in Japan, become more and more complacent. Improvement is light years away. No changes wanted .:: ::

[spirit_of_town_hall]

I concur, things are looking pretty grim here in the UK the IT market is wank, banking and finance in London have pretty much frozen recruitment and the travel industry is depressed to say the least.

 

Although from what I have gathered speaking with Australian colleagues at work the situation is indeed worse in Aus.

 

STH ::

[gobbledonk]

ST said:

 

Although from what I have gathered speaking with Australian colleagues at work the situation is indeed worse in Aus

 

You've each touched on part of the reason that our outlook remains bleak, despite strong underlying fundamentals. We WERE defying the global economic downturm, but events in the US and Japan inevitably affect us, given the size and interdependance of our tiny economy.

 

It is ironic that inflation remains a concern for the Reserve Bank at the moment, but they need to look beyond the aberrant spending habits of those of us who have adopted a 'Damn the torpedos' approach.

 

Keep the faith - this will turn around.

[kamui]

look at Continental Europe and Japan, they're already fucked-up since nine or more years

 

Yes, there is a new saying that Germany caught the "Japanese disease", which means: currently the country is not capable for deep structural reforms to revive the economy. The situation is bad, the outlook is worse.

[UAL875]

Kamui wrote: Germany caught the "Japanese disease", and jp1 wrote they're already fucked-up since nine or more years. People live with this problem and, like here in Japan, become more and more complacent.

 

You will know your country has fully succumbed to this disease when your economy is in the crapper yet there is a 4-hour wait to get into the newest Louis Vuitton shop, the biggest in Tokyo. Talk about complacency, JP1. Sheesh?no wonder suicide is so commonplace here?but hey, Japan is the #1 consumer of pornography so there is a bright side in all of this!!

 

But to the original topic - as if you already did not know -- this pessimism is legitimate. Was involved in a meeting earlier discussing how my firm is going to lop heads in NY, London, Tokyo, Hong Kong, and Sydney. Nice early Christmas gifts. It's been a good run these past few years, hopefully things will right themselves soon. I think the younger guys who have never gone through an economic downturn -- that whole generation which I wish I was still part of -- they may have it the harshest having only known "boom" times?ouch. That being said, all of this economic pessimism still is not going to stop me from going to BKK in a few weeks in an attempt to stimulate the Thai economy with lots of ladydrinks and barfines!!!

And a bj at the Star of Light! :: :: ::

[Guest]

Recession-hit Japan ain't that bad.

 

Blow job bars extend a warm (wet!) welcome to foreigners -- and even give us the 10% student discount!

 

Oh yeah, I saw that Toyota posted a cool $7 BILLION profit for the year.

[kamui]

yet there is a 4-hour wait to get into the newest Louis Vuitton shop, the biggest in Tokyo.

 

It depends in which direction you look. Since years there haven´t been so many unemployed and homeless in Japan like today. Actually the Japanese talk about a lost decade, regardless that some business are doing well. Japan is in a state of recession and depression since the burst of the "bubble economy" in 1989. There are many "Zombie companies" which are bankrupt since years and survive only with bank and state money. And there is nobody in Japan who is able to clean off the bad loans, currently.

 

@Roppongi worte:

Recession-hit Japan ain't that bad. Blow job bars extend a warm (wet!) welcome to foreigners -- and even give us the 10% student discount!

Of course, you are the customer who still has the money. Did you hear of the scandal with the "non-pan shabushabu" restaurant (a restaurant with waitresses without pants) a few years ago? Police raided the restaurant and took all guests/members addresses. This was very painfully for many bureaucrats, politicians and industrial leaders. This kind of restaurants and related businesses have some problems today, because there are severe cuts in expenditure for dining and wining with business friends e.g.

 

PS: I liked the Thai-girls in Kabukicho, when I lived in Japan, but to take them to a love hotel is no real substitute for going to LOS (and much more expensive) ::

 

 

[SUZIBANDIT]

With the lack of jobs and layoffs and generally sour economic outlook, think of it as a good time to take off and have some fun.

 

When things pick up and jobs are out there again you can go back to working. You won't need to explain the year gap on your resume either -- "It's the economy stupid."

 

Thats the sanukers guide to economics. ::