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31.3.09

Our Worlds Bleak Outlook

Hello World,

We have really stuffed things up this time. I am sure that most of you have not seen the world in such a bad state as it is now?
Our illustrious Prime Minister Mr.(Which Country is He in Today) Rudd has told us from his lovely warm hotel room in London? ( I can't keep up with him) talk about Teflon Coated. He keeps sliding into every which country. "The economy is going to get worse"

April 01, 2009 10:55am

So now even Mr Rudd our "saviour" has finally come out and is saying the economy is going to get worse.

Gee you reckon?

The Organisation for Economic Cooperation and Development has forecast
global growth to shrink by 2.7 per cent this year and warned 25 million
people across the world's leading developed nations could join
unemployment queues.


I believe there is already 20 million unemployed in China?


Mr Rudd is warning the world that a prolonged economic crisis could lead
to political instability and social unrest in some developing countries.
Now that did not take him long to figure that out, only what 12 months!
Australian Finance Minister Lindsay Tanner today backed Reserve Bank of
Australia deputy governor Ric Battellino who said most households and
business think the economic downturn is already severe enough to call a
recession.

"I think that's probably right," Mr Tanner told ABC Television reporter
Tony Jones.
"There is little doubt now that we are going to see a further degree of negative growth."

"It is very, very much a grim picture that the OECD is painting."

The ugly OECD report, released overnight, says unemployment is now
expected to jump to an average of more than 10 per cent by the end of
2010 in OECD member countries.

The report does not make a prediction on Australia's unemployment rate, which is officially forecast by Treasury to reach 7 per cent.

According to who you listen to It is a line ball decision to whether the RBA will change interest rates next week.
The RBA cut the official cash rate to a record low 3.25 per cent in February.

So hold your breath people this is really only the start of worse things
to come!
Oh yeah, one last thing for this post. Whats the bet on the Pensioners in Australia getting their pensions adjusted as promised.
Till next time.
Opa

2 comments:

debnet said...

And the poloticians get paid mega money to tell us all how bad things are.

Over here in the UK, MP's expenses are are in the news. One of them even claimed for a new toilet seat at the tax payers expense!

opa said...

debnet, thanks for the comment, am I to understand from the toilet seat thing that the MP thought the people were giving him the s...ts.
Over here the MP's were just given a rise for their "advertising?" .
The rise was higher than some pensioners get to live on.