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Via reader Carpe Jugulum who emails simply with a smile…

Very related.

    • 1.618
    • August 4th, 2011

    Ha Good on you Carpe

    • The Wizard of WOZ
    • August 5th, 2011

    If only it was that simple.

    My boss (Accounting Director) has a dodgy poster of her (‘worst PM in History’) behind his desk.
    I’ve never wanted to hug a man sober before…

    • The only question is – can Australia survive her? if the answer is yes, then you have but 2 years left of your hell on earth.

      • Winston Smith
      • August 5th, 2011

      You could always give him a beer first…

    • J.M. Heinrichs
    • August 5th, 2011


  1. Hi,
    I sent mine addressed to Combet. Quadrant Online put his address up.

    It may not achieve much, but if enough people do it, it sure as hell will send a message. I don’t know if OZ can survive another 2 years of this Government, we are in so much trouble, not only the debt that Labor has us in, but shops are starting to close everywhere, no matter which shopping center you go to there are empty spaces. People are losing jobs left right and center. As far as I’m concerned OZ is at the start of a recession, and it’s all down hill from here. 😦

      • Mick Gold Coast QLD
      • August 5th, 2011

      My instinct is similar magsx2, based on observation of similar things and on innocuous questions to everyone I encounter in business. One develops an instinct after 40 plus years in the professions (construction and property in my case) and the signs are very negative, as is sentiment (ie. confidence to buy stock and plant, to expand premises, to employ new people and the like).

      For example, in the big picture there is a fundamental housing shortage but building commencements have stayed low for a long time. That situation has never been as prolonged as now. The previous worst shortage I recall, in 1978, had opportunist developers building new projects within 6 months of a confirmed fall down the Y axis, before the bottoming out.

      At a micro level a conversation with the doctor’s receptionist about her son today told me of another qualified building plumber heading out of town to pick up work in fishing trawler maintenance in Darwin area. Three years ago an early 20’s specialised tradesman like that here (and in Sydney) couldn’t handle the flood of work available, and earned $2,000 to $3,000 per week as a base line.

      A further example – I see continuing liquidation auctions of process plant machinery, signalling no prospect of failing businesses slowly trading out of losses. Banks prefer trading out or installing a manager well before the last resort of selling up their customers (because they recover way less of the debt that way and they completely lose the interest flow which feeds their business). Banks don’t take this decision likely ‘cos they want their money out there being rented, not sitting idle in the wall safe. In times past we’d keep an eye on the few such sales that did occur, to capture lowest cost modern plant and machinery, but not any more.

      Even with my distaste for the negative view I see no signs of improvement – last year I expected employment to improve from June 2011 onwards but it has actually worsened further in the past 3 months. With the US boy president stabbing business there in the chest again this week I foresee nothing but trouble right now. The only secure business is one that flogs base material goods and services of substance into Asia.

      • In the past three weeks or so, I’ve had almost 10% wiped off my portfolio, and about half of that the last three days, especially today.

        Three years and counting… when will this shit ever end?

          • J.M. Heinrichs
          • August 6th, 2011


          • It just keeps getting better and better doesn’t it?

      • Hi Mike,
        It really is getting bad, surely a lot more people are seeing this now. I started stocking up on non perishables awhile back now, you could see the writing on the wall. This afternoon I was reading in the paper that we have wiped $100 Billion off the share market, so also for a lot of people who were thinking about retiring this will set them back years. We have friends that were ready to retire a couple of years back, but lost too much from the GFC, and decided to keep on working, this will set it all back again.

        I’m waiting to see how long it will take the Government to actually use the “R” word, they can’t keep lying about how great the economy is, surely they don’t think we are all that stupid.

    • Winston Smith
    • August 5th, 2011

    I’d already sent mine back, but found another in the bin.
    So I photocopied it, shredded the photocopy, and put the lot in the incinerator.
    Should have sent the ashes back to Julia, but didn’t think of it.
    I’ll look for another copy…

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