Think you see green shoots? You’re wrongDon’t believe the optimists, says Nouriel Roubini — the contraction of consumption will remain a drag on households for years.
Recession
Is the recession really making us better people?
Nope, says Derek Thompson; we’re not spending less due to sudden epiphanies about altruism and the true value of money — we’re just broke.
Treasury’s positive outlook is a false vision
A downturn that the Budget papers describe ad nauseam as “the most severe since the Great Depression” is expected to be over faster than the recession. So which is it? asks Steve Keen.
Budget tries to sell unattainable growth rates. Why?
About the only certainty that I get from this Budget is that our economic circumstances will not unfold as forecast, writes John Hewson.
RBA quashes optimism: economy will slide by 1.25%
This morning we had the first official forecast of a recession from the authorities, and it came four days before the 2009-10 Federal Budget on Tuesday night.
Bernanke: Normal service will resume shortly
Federal Reserve Chairman Ben Bernanke has predicted the US economy will be back on its feet by the end of the year, and people are finally starting to listen. But the massive amount of bad debt isn’t going anywhere, says TIME.
Will the GFC help the environment?
It might hurt, but some experts are saying that the Global Financial Crisis is giving Planet Earth a bit of room to breathe.
Nobel laureates discuss capitalism’s future
Capitalism can be still be saved, if the opinion of these three Nobel-Prize winning economists is any indication.
A glossary of important recession terms
Do you know your jetpooling from your donkeynomics? A dictionary of GFC buzz words to see you through the crunch.
Top 4 recession sacrifices
Eating out? Alcohol? New clothes? What are we willing to give up in these tough financial times?
NYC fine dining goes cheap
Discounting is a strategy high-end restaurateurs usually avoid out of fear of eroding the cache of their brands. But times are tough.
Hanging on for the “stress test” reality check
The strength of the current stockmarket rebound and the health of all those ‘green shoots’ analysts will be tested tonight.
Global disaster? Please explain
No-one can possibly know how long the current recession will last or how deep it will go.
Indian media in recession denial
Indian newspapers are banning the use of the word “recession” in connection with their country. Apparently a recession is only something that happens in America.
Food companies get frugal
The packaged-food industry has long touted itself as recession-proof. But strapped consumers are shattering that assumption, setting off a frenzy in the nation’s supermarket aisles and cooking labs.
The disappearing jobs of Merthyr Tydfil
By the 1970s Hoover employed more than 5000 people in Merthyr and was so dominant that the British town was dubbed “Hooverville”. But since the factory closed last month, lives have been shattered.
US sees surge in recession-themed sitcoms
Recession-themed comedies are all the rage this pilot season.
Sackings multiply as recession bites hard
The slight improvement in business confidence in the latest National Australia Bank survey belies Qantas’s decision to slash its workforce.
SackWatch: The firings keep coming as job ads fall by 45%
Since Crikey published its sixth SackWatch update last week, the tips box has again been running rampant with fresh tales of shoulder-tapping in businesses across the nation, reports Andrew Crook.
G20 done, Rudd’s recession rubber hits the road
Rudd’s inclusiveness is in part a political weapon to isolate the Coalition from the mainstream, writes Bernard Keane.
Sharemarket boomlet will end in tears
The rising sharemarket is ignoring the shaky fundamentals that continue to haunt the global economy, writes Glenn Dyer.
All eyes on Reserve Bank as February retail plunges
This morning’s fall in retail trade was fair sharper than market expectations, writes Glenn Dyer.
Slowdown continues to grip Oz economy
More signs of the slowdown continuing to grip the Australian economy, with another 4% fall in the value of imports in February, writes Glenn Dyer.
GFC: real world economics
For all their apparent complexity, the world’s most powerful economic models had no concept of the very human emotions of fear and mistrust, writes Sean Stephens.
NAB: Oz recession happening as we speak
The current quarter will see Australia slide into an official recession, according to the latest business survey from the National Australia Bank, writes Glenn Dyer.
