Wednesday, August 05, 2009

The Recession Must be Over :)

Both of Snork Maiden's investment accounts - retirement and non-retirement - are now showing a profit. Given that the former started in November 2007 and the latter April 2008, that's not too shabby. The effect of dollar cost averaging... And Commonwealth Bank sent us a letter suggesting we increase our credit card credit limit from $A6,000 to $A10,000! Of course, I * took the opportunity, I can't see a downside (?).

* The account is officially in Snork Maiden's name but I do all the financial management in our household.


Anonymous said...

Clearly, this is a joke. I can't imagine a serious and intelligent, well educated person saying these things and actually believing them.

Unless...a recovery means fewer jobs. Or no profits (in the future - all companies are hedging, after all), or 60%+ of GDP coming from government spending.

mOOm said...

Can't you see the smiley in the title? The serious point though is that we did get an offer to increase our credit line in contrast to all the previous news from personal bloggers about getting their credit lines cut. Well, there hardly was a recession here in Australia anyway. Certainly a very mild one to date. That doesn't mean things might not get worse if either the Chinese stimulus plan falters or the Reserve Bank starts raising interest rates again.

No educated, intelligent person would say that 60% of GDP is coming from government spending except as a joke either.