Bleating like sheep here on the forum day after day as to what a bunch of BS artists all and sundry are who is remotely connected to WC is not going to alter the fact that due to a GLOBAL ECONOMIC MELTDOWN, every single person in some way will be affected in some way!!!! On a daily basis there are reports of more hardship to come. The following snippets are from an interview with the PM in todays AGE:::::::"You will see slower growth and you will see higher unemployment. It's important to level with people about the challenges we now face, the threats we now face. They are real ”” I don't wish to pretend otherwise."
In his strongest comments yet, Mr Rudd said Australia was facing a global recession that was getting "worse and worse and worse".His comments follow news that both the US and British economies are shrinking ”” despite end-of-week rallies in the American and European sharemarkets. Japan has also unveiled a $US277 billion stimulus package, with Prime Minister Taro Aso calling the crisis a "once-in-a-century event".
"When you look at the data in the US, the UK and elsewhere, you see the warnings from the International Monetary Fund, this unfolding global economic recession is going to make it tougher and tougher and tougher for Australia."
PRIME MINISTER Kevin Rudd has warned it would be grossly irresponsible of the Government not to spend the remaining budget surplus to shield Australia from the "unfolding global economic recession".
But he concedes this might not be enough to protect the nation from higher unemployment and slower economic growth as the international crisis unfolds.
"It will be tough, ugly and hard,"
You will see slower growth and you will see higher unemployment. It's important to level with people about the challenges we now face, the threats we now face. They are real ”” I don't wish to pretend otherwise."In his strongest comments yet, Mr Rudd said Australia was facing a global recession that was getting "worse and worse and worse".
"When you look at the data in the US, the UK and elsewhere, you see the warnings from the International Monetary Fund, this unfolding global economic recession is going to make it tougher and tougher and tougher for Australia.":::::::: Have a look at what is going on outside of the PIF instead of wallowing in self pity, holding JH personally responsible for circumstances that are outside of her control. Every single unit holder will be bitterly disapointed at not receiving anticipated ditributions, but I will be happy just to see the remaining assetts not deteriorate further, or worst case scenario, the PIF placed in voluntary administration. Especially now some are actually estimating the current unit value at 15cents. Take out the costs involved in winding up the fund and other liabilities and you don't need to be a Rhodes scholar to work out what would be left. By all means hassle the butt off JH over wrong constitutions and other misdemeanors until she gets it right, but it will not change the fact that this fund and many others will struggle for survival, no matter who is at the helm or what colour jacket they wear. If JH manages to keep the PIF as a going concern, I will give her my crown and pedestal!!!! Seamisty