The Australian Financial Crisis - Welcome to our Blog!

Hi All.

Welcome to our new blog dedicated solely to discussion of the Australian Financial Crisis. We apologise if you find the name a litte chary; naturally, we thought it would grab your attention. Don't be too alarmed, though, this isn't a site only for doom and gloom.

THIS SITE IS FOR ANYONE interested in the economic state of affairs and the future prosperity of our good country.

As the key contributors to this blog and businesspeople, we have been keeping abreast of information as it comes to hand about any and all aspects of the global economic crisis and, particularly, our government’s activity to curb its effects upon our market. And, as businesspeople, we have had our share of disagreements with the fiscal policies chosen and the actions taken. Although we support our government, we are concerned that the foundation from which they act – being their understanding of money and their economic advice – is gravely at fault.

You see, money and economics are probably two of the most fundamentally misunderstood faculties of human endeavour. Certainly, where our government is concerned, there have been successes; but there have also been many failures and, key faiures that have seen us to this predicament. Incident to this misunderstanding has been the ill intentions of some to take advantage of the system which, in effect, has now lead to the collapse of economies in many countries.

Today, in the United States, unemployment has surged to a 17 year high despite their government’s best attempts to stabilise the economy. Australia, too, despite the injection of funds directly into the markets, is not forecasting a rosy financial future.

Many of us know someone who has lost a job, had a pay cut or who’s industry is under threat as a result of this crisis. The government scrambles to push through another cash injection, this time of $50b, to which there is much opposition and debate and argument. It’s natural to question our government in the light of such behaviour and ask if politics are getting in the way of our economic salvation or if the government has completely got it wrong?

Even the reasons for the downturn in the economy are debateable – there is little agreement, too, as to whether stimulus packages will even work.

What then is the cause of this, so called, economic crisis? Is the ‘system’ at fault or certain elements within it? For without knowing the cause, how can we even proffer a solution? Many conspiracy theories have been suggested – that this is a means of enabling bank or government control of the populace, that this has been instigated by the Federal Reserve to enslave the population... But, what is true and what is hearsay? Indeed, have such conspiracy theories been manufactured only to manipulate us by anxiety?

What then, is the solution? Many have been put forward, but which will work? Should more money be injected into the economy? Less? Is the solution not even fiscal? Is it production-based?

There are lots of questions, but time appears to be limited. In Australia, we are yet to face the full brunt of the economic recession. Despite this, Australians are working less hours than ever before, six of ten of our trading partners are in recession, unemployment is on the rise and other key performance indicators of our economy are crumbling despite the government’s best efforts to reverse the trends.

Sure, the experts may provide reasons and handlings and causes and solutions – but these are the very experts who are currently at the helm of the ship that, despite evasive efforts, is a ship heading towards the eye of the storm.

Brace yourselves. For WE ALL NEED TO KNOW about this thing: the Economic Crisis. The experts have gotten it wrong. They may have predicted it – and hats off the them for being right – but what is needed now is CORRECT actions, REAL applicable REASONS AND SOLUTIONS and, most importantly, EVERYONE – every worker, foreman, clerk, manager, business owner – needs to know what this thing ‘the recession’ is before it hits hard.

We will all be affected; better we know what ill it is with which we suffer and take what responsibility we can to kill the disease or stave off the plague.

Your dialogue and optimism is very welcome.

These are shaky times, to say the least but there is definitely a way through.

If you would like to contact us directly to register for our monthly newsletter or are interested in our books on the subject, please do so by emailing us at ausfinancialcrisis@sagecon.biz