The Business Expert Who Swears We're Doomed

19 January 2009

Economic analysis has become second nature to most of us in recent months. We’re all au fait with terms like Libor, Ponzi Scheme and stagflation, while almost all of us know someone who got a Robert Peston costume for Christmas.

But sometimes all we need is for someone straight-talking to come out and tell it like it is. Chris Richardson is that man.

Chris, MEc (ANU), BEc Hons (Sydney), is one of Australia's leading macroeconomists and is a member of the influential Access Economics group. Access have just released their latest regular business outlook report and Chris appeared on Aussie radio to talk about it.

His take on things? "Four years of boom has collapsed in four months of chaos. A lot of things are buggered because the global economy is in real trouble.”

There you go folks – as we suspected it’s ‘buggered.’ The qualifications of a academic but the vernacular of a taxi driver. Superb.

TOPICS:   Travel


  • MB
    I'm an academic and I say buggered when in polite company. It's better than saying fucked.
  • Cam
    Indeed, saying fucked would be rather bad. You could perhaps say screwed. Or you could just say it is the bastard media that have hyped the economic downturn, from the bbc's downturn logo to bitter wallet's "Deathwatvch". It is all just spin. If the medai didn't talk crap, the situation would not be so extreme.
  • flamingcarrot
    I would say RBOS posting a loss of £28 billion for 2008 points to the situation being quite 'extreme' - and yes, like the man said, the economy does seem to be buggered.
  • Mike H.
    It seems over qualified Macroeconomists are doing rather well out of the 'Economic Down-turn' are they not? Jobs for the boys It would seem.
  • Cam
    flamingcarrot - I think you missed the point. The current situation has been made worse by the media hype. We have been talked into a downturn by the media, leading to a feedback of reduced consumer spending, lending and borrowing etc. I'm not saying that the media caused the dowturn, but they are certainly making it worse, and if you can't see it, then that exactly explains my point - media led public!
  • Max
    How the world could not have seen this situation coming *at least* ten years ago is beyond me. Common sense has become uncommon; and greedy, power-drunken scum with *no* good intentions are leading the world. Sorry folks, the writing is on the wall. I know it's less painless to bury one's head in the sand - but open your eyes, and there you will see it, plain as day. Kiss the world as we knew it goodbye. It's going away at an exponential rate; this you will soon see (if you lack the vision to have seen it coming already). Indeed. very dark times are coming - much darker than most can foresee. Don't believe me? Don't worry, you need not wait long - it will be here soon enough. And it will be frighteningly ugly. Sorry - but we brought this on ourselves. Finger pointing is pointless. I pity our children...
  • Max
    Forgive my typographical errors above- it's late.

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