For Tookey and Others who might be interested

[clontaago]

I just attended a corporate lunch do and the speakers included Peter Switzer, Robert Gottliebsen and Prof. Neville Norman.

Pretty informative, Neville Norman and Switzer were very good, Gottliebsen is getting a bit beyond the public speaking gigs I think.

Basically all 3 agreed that the stimulus packages are definitely the way to go and that Rudd is doing a solid job in terms of the economy.

Norman absolutely lambasted as he calls it, "The Reverse Bank of Australia" for continuing to raise interest rates in the first half of last year, saying they got that completely wrong.

 

[Zep]

i am interested.

Consumer confidence at a significant low.

Speakers who can inspire confidence.

People who make money from confidence who are speakers.


Nah just kidding, something i picked up from bloomberg watching it for 6 hours straight 5 nights a week for years.

 

[Guest]

I agree totally that the reverse bank got it completely wrong with interest rates.

Once RAMS went under in August 2007 because they couldn't raise funds to support their borrowings their should have been no further interest rate increases.

Instead they kept raising rates until July 2008 by which time the economy was truly ****ed.  This is what we are paying for now.

As far as the stimulus packages are concerened I will rest my judgement for another 4 months.  Sure xmas spending was up but if you put $10b into the economy you would expect this result.

However I can tell you around the Manly area there are a lot of business' struggling at the moment and a quite a few will close in the next couple of months.

The real concern is our increasing foreign debt and the burdon we will have for many years paying off Rudd's deficit.