We’re F*cked

by duncan on November 4, 2008

So on Melbourne Cup day, the Reserve Bank of Australia cut interest rates by 75 basis points, or 0.75%, on top of the 100 basis points, or 1% cut last month.

We’re f*cked. Nearly 2% in 2 months….nothing I can remember in my life time. Massive economic stimulus attempt that could have only been based on figures that showed Ausrtalia sliding to a halt, or going backwards. It was nice to grow up through a recession, then beyond that. Gen Y and Z, welcome to my youth!!!!!!! ;-)

Viewing 3 Comments

    • ^
    • v
    Settled down chicken little.
    • ^
    • v
    It's the correction we had to have. The economy was going out of control. There will be a few people who lose their jobs, but other than that will anyone feel a negative impact?
    • ^
    • v
    Seriously, if I have to read another post/article trying to point out that Gen Y (and Z) have no idea what real life is all about, because we have never been a taxpayer throughought a recession (or economic downturn) I think I will stab someone.

    Here's something to think about - money isn't everything. Sure it's nice to be rich or comfortable. Sure, during this current environment we may have to make some sacrifices but so will everyone, it isn't an age thing. What about those 40 year old ex private school boys who grew up on mummy and daddy's money and used it to play the markets. Or the mum and dad small business owners who are trying to support a family. I'm sure they will be a lot worse off than the 20 somethings who on average have very little liability. The majority of Gen Y's still don't have mortgages, kids, etc. To me, it seems that the people who have the most to lose are the older generation.

    My dad, who was the single household income provider died when I was 17. Did I ask for a government hand out? No! I got off my arse, got educated, got a job and supported myself.

    Due to the econonic downturn I recently found myself redundant from my six figure salary job. I didn't cry, I didn't blame my Gen X boss. I found a new job with a higher paying salary. I'm sure that's going to piss off all the Gen X's out there but I have the comfort of knowing I have worked hard to get where I am today. Unfortunately some people think I just happened to 'Get Lucky'

    Family is the best investment you can make. Invest time in your family and you will be the richest man alive. (Fuck....now I sound like Jebus)
 
close Reblog this comment
Powered by Disqus · Learn more
blog comments powered by Disqus