tag:blogger.com,1999:blog-11906042.post5182449431142151875..comments2024-03-22T11:55:50.335+13:00Comments on Not PC: NOT PJ: What's the Reason for this Folly?Peter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11906042.post-21168106201365346272009-01-04T23:50:00.000+13:002009-01-04T23:50:00.000+13:00I suspect that folk are thus as they have a less t...<I><BR/>I suspect that folk are thus as they have a less than 100% expectation of maintaining their current employ.</I><BR/><BR/>Given that NZ's economy is 90% bludger <B>we can only fucken hope so!</B><BR/><BR/><I> I don't expect to see any govt employees similarly affected though. They should be safe.<BR/></I><BR/><BR/>We sure as fuck can hope otherwise.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-51249827101339753562009-01-03T07:43:00.000+13:002009-01-03T07:43:00.000+13:00"I suspect that folk are thus as they have a less ..."I suspect that folk are thus as they have a less than 100% expectation of maintaining their current employ."<BR/><BR/>Those "folk" would be feeling the pinch then. <BR/><BR/>--<BR/><BR/>Walking down McQ St in Central Sydney I saw a woman crying outside an office building recently. Then I came across several groups of people crying. Across in Hyde Park there was a larger group of people- all very unhappy. Turned out that the lay-offs were cranking up significantly. First it is the financial services sector and adminisration people who are getting the boot. Fair enough. But soon other sectors will experience the same troubles. Expect to see that playing out big time this fist 1/4. I don't expect to see any govt employees similarly affected though. They should be safe.<BR/><BR/>I thought what was going on in Sydney was bad, but recently at a dinner some colleagues from London and NYC described what they'd seen. Thet were horrified. They reckoned mass lay-offs in NYC meant that tens of thousands of people were out of work and would stay that way (unemployed) for some time to come. For a young or middle aged person this redundancy is a disaster as they'll likely not get another chance to resume work in their chosen sphere of activity for at least five years. That probably means leaving NYC and finding a new place to live and a new livelyhood at sharply reduced salary without much chance of promotion. Many of these people had good incomes and substantial expenses. Worringly most do not have transferable skills. Worst of all was that not many have appreciable savings ("savings, are you kidding?"). London is supposed to be experiencing far worse than NYC. I'm sure glad I'm not involved in that mess. <BR/><BR/>After dinner I thought about how all these supposedly educated and "knowledgable" money-people couldn't see what was coming- yet it was obvious (for years) and necessary. It appears vanishingly few were prepared. Few, if any, took even the simple steps to insulate themsleves from what is occurring (or about to). These were supposed to be the "experts"- university trained and qualified. Fact is these turkeys had not a clue. None of them had a basic understanding of what economics is, let alone what it means. They offered opinions, advice and analysis as if they had something worthwhile to offer. All if it was fictional- a blind faith rested upon mounds of bullshit. What they did succeed in achieving was destroying value- mostly that of other people. There is still (unfortunately) much more of the reckoning to play out. <BR/><BR/>---<BR/>On another matter:<BR/>CF, I was wondering whether you'd had an oportunity to read any of Von Mises' books? What about "Socialist Economy"?<BR/><BR/>LGMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-21484117622971385552009-01-02T13:24:00.000+13:002009-01-02T13:24:00.000+13:00"The worst effect I've seen is that austerity is n..."The worst effect I've seen is that austerity is now fashionable, even amongst those who aren't feeling the pinch."<BR/><BR/>I suspect that folk are thus as they have a less than 100% expectation of maintaining their current employ.Clunking Fisthttps://www.blogger.com/profile/18020166717482531977noreply@blogger.com