Specialising in the human experience of Living with prostate cancer – warts and all

It’s the economy, stupid

with 9 comments

It’s the economy, stupid!

Some of us think the global economy may collapse bringing about a ‘New World Order’ whilst others are banking on the ‘Free Market Forces’ to bring the economy back to ‘Business As Usual

This news column will blog news items that might indicate one direction or the other

US recession hits Aussie exporters

Australian businesses that export to the US are bracing for a tough year as the world’s biggest economy grapples with recession.

Australians buying less locally produced wine

Australians bought about 35 million litres of local wine in November, which is 2.2 per cent less than the year

Families living in cars in Albury-Wodonga

“We know from our direct experiences that mothers and small children are sleeping in cars, men and boys are sleeping on the riverbank and teenage children are bed-hopping across town because they have nowhere to live,” she said.

Pension queues jump 50 per cent

The aged pension should still be increased, seniors say, despite the number of pensioners growing sharply due to the financial crisis.  Successful applications for the pension have surged 50 per cent as superannuation funds and assets shrink.

Aussies work longest hours in the world

“You’ve got younger people who are driving to create a career and don’t take the leave that they’re owed,” Mr Buckley said.  “Or there is the other end of the market where they’re worried about taking leave and maybe not having a job at the end of it.”


Now, that little cross section came from today’s news items and there was nothing positive there to suggest thatFree Market Forces’ will  bring the economy back to ‘Business As Usual


Written by Greg Naylor

11 January 2009 at 12:00 am

Posted in Uncategorized

Tagged with ,

9 Responses

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  1. Greg, IMHO, those that believe a free market economy is still the solution to the mess we are in, belong to the ME generation.


    12 January 2009 at 6:44 am

  2. JR, it’s illogical (and diversionary) to argue that those who hold a different opinion than you must “belong to the ME generation”. What, is that your way of saying they are just selfish or something like that? Stick to the facts and don’t personalise with such argument please.

    As for the contention that the free market is defunct, only time will tell. But there is not one single example throughout history of how restricting trade (or whatever it is you’re proposing to do) has worked any better. Honestly, you seem to be suggesting we can live without commerce and free trade – give it a go then!

    Greg, the papers don’t report “good news”.

    Ray Dixon (Bright)

    12 January 2009 at 6:40 pm

  3. Ray, what I’m suggesting is that we can live without the scumbags that the current free market economic system allows to flourish and have thus got us into this mess. Is that sufficiently sticking to the facts for your liking? Yes, the current iteration of the free market has been created for the selfish, greedy ME generation. Now this is my opinion, Ray, and please refrain from saying I cannot voice it. Or are you suggesting I should be sensored?

    Putting words into my mouth is not very nice either, Ray. The free market as we currently know it is a dead duck in the water. Self regulation has failed, there is a need to overhaul official regulation. We need to address where the faults lie, not throw financial rescue packages after bad business dealings. That apparently only assists the morons that got us into this mess. As has been suggested by others besides me, Ray, things will need to be done differently in order for us to find our way back out of the sewer.


    12 January 2009 at 7:38 pm

  4. Ray, I don’t agree that the media diesn’t publishes good news and when I see it on these issues, I will post it. However, the particular day’s reports didn’t have any and the ones mentioned here are beyond the daily norm

    Greg Naylor

    12 January 2009 at 11:09 pm

  5. No, JR, what you said was this, “those that believe a free market economy is still the solution to the mess we are in, belong to the ME generation”. You might call that an “opinion” but I’d call it taking a broad swipe at anyone who doesn’t see it your way. And I’m not suggesting you be “censored”, just that you don’t attack the integrity of those who happen to disagree with you. Anyway, it’s my belief that what we are seeing is merely a severe economic swing that will ultimately correct itself, as history has shown over & over again. If, as you say, “things will need to be done differently” what do you suggest as a VIABLE alternative?

    Greg, I don’t see anything in those reports that suggest we’re headed for financial armageddon. It’s easy to get swept up in all the negativity but the indicators in Australia are not looking as bad as we’ve experienced in the past. In other recessions we’ve headed into them with already high unemployment, high inflation and high interest rates. That is not the case here and there’s a hell of a long way to go before you could reasonably say Australia is in JR’s “sewer”.

    Ray Dixon (Bright)

    13 January 2009 at 12:41 am

  6. Ray, I actually see some hope in the state of the world today. With the financial crisis and the intolerance of US Imperialism around the world, I feel the political environment is ready to see what change Obama can make.

    Whether it be global warming, the environment in general, the financial system, over population, resource shortages or any of the global issues of our time, I think it has been proved that there are no experts or silver bullets anywhere.

    I hope the world accepts there might be untried alternatives that turn things around.

    As to the ‘Me’ generation, we are all part of it. Since the 1980’s acceptance of greed is good, the biggest hurdle to effective change is the selfishness of the individual in first world countries. The arrogance of George H Bush when he said, “The American lifestyle is not negotiable is still with us in Australian politics where John Howard, and now Kevin Rudd, continue to put the economy ahead of dealing with the sustainability of the environment.

    Our way is not the only way – we need to find the alternatives

    Greg Naylor

    13 January 2009 at 1:24 am

  7. I agree Greg … in principle. But the reality is that ALL alternative models of governance have failed, the major cause being the collapse of their economies (witness USSR).

    Ray Dixon (Bright)

    13 January 2009 at 12:10 pm

  8. A far more eloquent interpretation of my last comment was published today titled Henry Kissinger’s OpEd: A Chance For A New World Order is worth a read.

    Greg Naylor

    13 January 2009 at 12:54 pm

  9. With my limited understanding of this crisis, i can’t say i’m an expert, but i think i agree with Ray, in that closing down and restricting trade hasn’t, through istory, proved much good. i that the affects of globalization got us into this mess, and in partnership with the USA and other countries, we can utilize this better to get out of the mess.

    But mabye i have it all wrong? I’ve always struggled with the whole financial, trading etc, side of things….


    14 January 2009 at 6:05 pm

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