Comments on: Business confidence back on the up and up http://www.crikey.com.au/2009/06/09/business-confidence-back-on-the-up-and-up/ now with extra source Sun, 12 Feb 2012 00:58:05 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: scottyea http://www.crikey.com.au/2009/06/09/business-confidence-back-on-the-up-and-up/#comment-28232 scottyea Tue, 09 Jun 2009 10:45:16 +0000 http://www.crikey.com.au/2009/06/09/business-confidence-back-on-the-up-and-up/#comment-28232 "And several major international financial oversight groups have expressed cautious optimism that the worst of the global crunch is over." ROFL! These jokers could not see the GFC coming..... while 'maniacs' like the <a href="http://dailyreckoning.com/author/mogamboguru/" rel="nofollow"> Mogambo Guru </a> were shouting at the top of their lungs for at least FIVE YEARS beforehand that this was imminent. So what is the opinion of a major international financial oversight group worth??? “And several major international financial oversight groups have expressed cautious optimism that the worst of the global crunch is over.”

ROFL! These jokers could not see the GFC coming….. while ‘maniacs’ like the Mogambo Guru were shouting at the top of their lungs for at least FIVE YEARS beforehand that this was imminent.

So what is the opinion of a major international financial oversight group worth???

]]> By: Richard Wilson http://www.crikey.com.au/2009/06/09/business-confidence-back-on-the-up-and-up/#comment-28205 Richard Wilson Tue, 09 Jun 2009 06:26:29 +0000 http://www.crikey.com.au/2009/06/09/business-confidence-back-on-the-up-and-up/#comment-28205 The public remain sanguine about the conomy according to my latest data and liquidity levels are clearly stronger than in the Dec 2008 quarter. But the market is earmarked for a major post revival dive some time in the next two months and that is what everybody is edgy about. The Chinese I believe are artificially inflating the resources volumes we are experiencing by spending a lot of the junk money they have so much of on stuff they can use in the future i.e. commodities and businesses. However, eventually they will either run out of the green paper, it will become worthless or there will be nothing left to buy. Despite their domestic programs, how can China lead a recovery when 50% of its GDP is export based and its major customers are all in serious recession? Look at Japan and Germany, the other major exporters. So in my view there is a long way to go and it is unlikely that we will be able to spend up during the next onslaught which will lead to questions like why did we spend so much before? The public remain sanguine about the conomy according to my latest data and liquidity levels are clearly stronger than in the Dec 2008 quarter. But the market is earmarked for a major post revival dive some time in the next two months and that is what everybody is edgy about.

The Chinese I believe are artificially inflating the resources volumes we are experiencing by spending a lot of the junk money they have so much of on stuff they can use in the future i.e. commodities and businesses. However, eventually they will either run out of the green paper, it will become worthless or there will be nothing left to buy. Despite their domestic programs, how can China lead a recovery when 50% of its GDP is export based and its major customers are all in serious recession? Look at Japan and Germany, the other major exporters.

So in my view there is a long way to go and it is unlikely that we will be able to spend up during the next onslaught which will lead to questions like why did we spend so much before?

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