19 Aug 2013

Australian people are always distraught, overwrought, wringing their hands about how horrible things are,WHY?

The world's richest banker, Goldman Sachs chief executive Lloyd Blankfein, thinks Australia's fretting about its economic circumstances is a bit of a laugh.
"I've been coming here for a long, long time and during the last two decades of growth, growth, growth, people are always distraught, overwrought, wringing their hands about how horrible things are and to my observation, they don't look that bad," Mr Blankfein told businesspeople in Sydney on Friday.
One questioner asked how Mr Blankfein saw Australia, given it was "in a phase where our economy is slowing" and "there's a malaise between business and government".


"No, it's awful - you've now sunk to a level that we're trying to get up to. So, my heart goes out to you," Mr Blankfein replied, demonstrating that humour and investment banking can share a stage.
Mr Blankfein's assessment follows recent statements from the federal opposition that Australia is facing a budget crisis, a budget emergency and a productivity crisis, and that the economy's triple-A credit rating is misleading.
The Goldman Sachs boss said investment confidence globally was at a low ebb but was rising.
Australia is envied by many countries, if they had Australia's problems they'd be very happy. Why the political parties in Australia are talking about a financial crisis is unclear.
They should realise that such talk is not encouraging business investment.

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