One really has to wonder what the world would look like if this bloke had assumed the top job a couple of years ago.

He is certainly up against it from an economic point of view but there is a sincerity and belief in what he has to say that must make his supporters proud and Country hopeful.

Whilst they may be replaced as the ‘powerhouse’ of the global economy over the next decade or so it is certainly refreshing to know that the US is in pretty good hands.

Just hope he has the support of those around him on a domestic and international level.

Seems like a nice bloke and his stated intentions certainly make a lot of sense.

President Obama Speaks After Tour of Electric Car Plant

President Barack Obama 2009 Inauguration and Address

No doubt we are going through tough times relative to what most of us are used to.

 

Whatever the reason(s) the harsh reality is that many people are going to lose their job, or at least have it significantly downgraded.

 

But were many of these jobs justified in the first place?

 

Take 3 sectors - Mining, Retail and Financial Services.

 

Mining (together with agriculture) has been the backbone of the Australian economy for a long time. The past few years have seen unprecedented demand in resources which has created many jobs. There comes a time when they can’t keep building in China however. On top of this we have the environmental concern. I really hope some of those who have invested strongly in shares/joint ventures of Australian mining stocks are having a good look at renewables. Point is that whilst some people have made a dollar, what we have seen within mining over the past couple of years is not, and was never, sustainable.

 

There seems to be a retailer going into administration every week. Jobs lost as a result. Why do retailers feel the need to open x amount of stores per year? Why not just stick to a good formula, make a good profit and share a bit with your employees? Why employ people at a rate of knots and then wait until a situation like we are in to realise that you are possibly a bit over resourced. No offence to those involved but maybe that merchandise planner’s assistant didn’t need an assistant?

 

Retail sales growth over the past few years has been distorted by excessive credit coupled with an inflated value of personal assets. Not by wages growth. It will be a fair while I reckon before we gain real momentum in a retail sense.

 

Many an organisation and individual involved in the financial services sector have profiteered greatly over the past few years. Whilst I am sure there are many of you involved in the sector that had the greatest intentions the reality is this wealth was in most cases built on the insatiable appetite of other individuals and businesses for ‘growth’ and want (not need).

 

Unfortunately this ‘growth’ was funded in the most part by debt. For a while whilst the good times rolled this appeared to be a case of everyones a winner. Unfortunately that aint the truth.

 

Now here in Australia and around the world we are faced with massive decline in asset values and unfortunately this becomes a bit of a snowball effect (asset prices devalue, credit harder to come by, demand softens, people lose jobs, demand falls even further, more people lose jobs, asset values fall further and so on).

 

One thing is for sure and that is that we will come out of this better for the experience. This will only happen when the vast majority of people realise that the ‘wealth’ and ‘growth’ and levels of employment in certain sectors as a result of ridiculous amount of debt were never going to be sustainable.

 

I just hope, apart from anything else, that what we are going through makes people aware of this and what should be important to them.

 

Fortunately, you just get the sense that this is starting to happen and in the long run we will all be better for it.

The bushfires that have ravaged parts of Victoria this week have created tragic circumstances not seen in this Country before. The worst natural disaster in Australia’s history with estimations of 300 lives lost, 1800 homes destroyed and thousand of lives changed forever.

 

The outpouring of support from individuals, businesses and celebrities has been quite staggering. Current calculations have approximately $75 million dollars pledged. Like always, the Red Cross have been exceptional in managing this process.

 

I do hope, however, that the plights of many Australians in need on a daily basis are not forgotten. If anything perhaps bringing together the community as this tragedy has inadvertantly done will make us more conscious of supporting those around us.

 

It is estimated that over 100,000 people spend every night without a roof over their heads. Not to mention the thousands of individuals and families living below the poverty line for a variety of reasons. The job losses we are absolutely certain of facing over the coming months will mean these hardships reach a scale not experienced by the majority of the population.

 

I am assuming those Companies that have so generously donated enormous amounts of cash have not and will not be laying anyone off in the near future.

 

I thank every individual and organisation who have donated money to the bushfire appeal, however please keep in mind those who continue to need help daily yet are rarely recognised in the mainstream media.

 

It is times like these that we all must support those around us like we have supported the victims in Victoria. The levels of support are symbolic of what can be achieved.

 

I hate to be cynical but do we really need a “telethon” to get corporate Australia pledging to the levels seen over the past few days. And please do not feel the need to run TV ads to tell people that your company will be donating money. Maybe use the money spent on the ads to add to your donation?

 

To individuals, business and celebrities; Remember the feeling when you decided that you wanted to help over the past week.

 

Hold that thought. 

 

It is what makes us great and it just makes sense.

 

Smith Family

 

Youth Off The Streets

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Below are a few lists from around the world of some suggestions for the 'Greatest Innovations of All Time' together with some recent innovations. Some simple, some not so simple but hopefully gets everyone thinking. Feel free to add your Top 10 innovations that changed (or can change) the world (for the better ideally) Business Week Article Time Mags Best Innovations - 2008 Encyclopaedia Brittanica's list of greatest inventions of all time 100 Years of Australian Innovation 2020 Summit Final Report (must be something in here)  

OK so not exactly the cheapest holiday option but still pretty good when compared to normal hotel rates. Experience the Murray (while there is still water in it) on this luxurious houseboat which can sleep up to 10 people. Perfect for family, friends and even business conferences.  www.dreamboatel.com.au