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Old 08-28-2007, 03:09 AM   #63
Dekkers
Team Bergeron
ESB Senior Member
 
Join Date: Jul 2005
Location: Sydney
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Default Re: Rudd is f***d...

Quote:
Originally Posted by MSTR
I'm in debt up to my eyeballs currently so I am all for recession lol... How much do you know about economics? I am interested in learning to a basic level. I understand some basic concepts from working within banking, but only what I really need to. Would be interested to learn more.
It's not really a lot, I know a bit about a lot of things, I tend to retain a lot of info (probably all the times I watched the news hour with Jim Lehrer as a kid, Spellbinder sucked arse), just ask Oztriker about my memory

That said recession may drop interest rates but it'll also generate unemployment, and put downward pressure on wages, AWA's are currently great because the economy is hunky dory, but they've got a downside and you'll see it when there's downward pressure on wages with more people competing for the same positions. Whether or not it's good for you depends on what you do for a crust, i,e, job security, how strong your position is on the negotiating table (if there are plans for you to go on an AWA), own a business (well recession is generally bad in this case, less people employed and often less money to spend)?
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