Today I really got up early as I had an scheduled appointment. Naturally I managed to get started much earlier than I normally do by commencing to get some unfinished business underway at last. I really should endeavour to get going and not dawdle. Trouble is once my brain starts working, my body wants not to cooperate. I should program my body to go to the active mode and my brain ( thought processes) into a standby mode. In other words, stop daydreaming and get going.
Yes I viewed the final presidential debate between Obama and McCain. This debate was more spirited than the two previous encounters. Obama did impress me on how controlled and relaxed he was under pressure. McCain came accross as being very tired and did not offer anything new. Just a few hours prior to this debate, Wall Street nosedived again and it appears that they and other markets really do not have much confidence in the rescue packages hastily formulated by very nervous governments.
It is also very obvious that unemployment is rapidly increasing in the wake of this financial meltdown. Ford Australia has slashed another 450 jobs on top of the hundreds laid off just a few weeks back. Economists also predict that jobs will be slashed in the small business sectors, not only here in Australia but also in North America. The BBC World Service recently stated that over 30,000 positions will be axed within London's financial sector alone due to this massive meltdown.
It doesn't surprise me that Obama is the frontrunner in the coming US presidential election because he represents change
whilst McCain is identified with incumbent Bush administration. Naturally the Republicans have resorted to smear and innuendo to try and deflect the flack they are getting over their poor administration, which has largely contributed to this meltdown.
Now it appears that the crisis is starting to hit Australia with cutbacks in orders for Australia's base metals. We naively thought that the huge demand from China for these would cushion Australia from the financial meltdown. Credit has become so tight that it is difficult attracting investment.
Australians have also discovered that it has become too expensive to travel overseas with the local dollar shrinking over 30% in value compared to six months ago. Then the Aussie dollar was 98.7 American and now it is 66.4. I have decided to forego ordering books from overseas for the time being. It no longer is economical.
Robin L. Harwood
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