Recession and Poker

[mg56]

Puzz,may be my views were locked in the past.....here is what I found:"...CommSec Equities economist Craig James and others say the US economy holds less influence on Australia and the world than it did 10 years ago. Australia has switched its reliance on trade with the U.S. to the rapidly growing, resource-hungry economies of China and India which explains why Australia's economy will grow at about 3.5 per cent this year compared with about 2 per cent economic growth in the US and Europe."My preentive conclusion a bit of a rush...well ,a missread.

[Fletcha]

It's been a while since Economics 101 but isn't the definition of a recession a Decline in Gross Domestic Product for two successive quarters?We are not even close.Although i have personally seen a decline in the GDP (Gross Donkey Players) playing on my tables.

[iceDonkey]

Dfer – I agree with you. A large number of people barely notice a recession. I understand recession and depression are two separate cycles. I mentioned the term ‘depression’ to show people turn to gambling during tough times so a recession will have little affect on our games. Although, I do like Fletcha’s definition of GDP.

[Dfer]

We are not in a Recession.A Depression is like a Recession.Recession = 2 continuous Quarters of negative growth as measured by GDP.Depression = 4 continuous Quarters of negative growth as measured by GDP.Negative Growth equates to less; productivity wealth jobs wages growth economic activty. Latest estimates have the..Australian economy tracking at around 4% annually; 1% QuarterlyU.S at 2% annually; 0.5% Quarterly.Target rate is usually between 2% to 3% annually.

[Doctor Straight]

Interestingly, Australia is the only country to have gambled its way outof economic depression. The Great Depression of the early 1930s endedin this country when the entire adult population put their hard earnedon Phar Lap which won all 4 days on the 1930 Spring Carnival includingthe Melbourne Cup.The USA got out of its depression partly from President Roosevelt's"New Deal" package. Australia got out of its depression thanksto the SP Bookie's "Good Deal" package, where everyone got agood price.It's rare that an entire country is able to change its economicoutlook through gambling profits.

[Bugsy]

"may be my views were locked in the past.....here is what I found:"...CommSec Equities economist Craig James and others say the US economy holds less influence on Australia and the world than it did 10 years ago. "maybe if The US still had the same influence our stock market would be down 30% insted of 20% .ComSec are hardly going to issue a statement saying everyone should sell there shares and stay out of the market for a year

[kokomo]

Dfer, This is a general question and i think should be answered as such. If AUS goes into 1 2 3 or even 8 quaters of recession,not many people would even notice. if it was not for the press.Say our unemployment doubles that would mean 10 in 100 are looking for work instead of 5 in 100! who would notice?We will in the future never experience anything like the great depression, the great depression is more than a definition you found on Wiki.Our unemployment will never get high enough while Australia is still mining. Our economy is SICK RIGGED STRONG i would be much better off if AUS groth was much less and interest rates were lower.. please one fucking time go down!