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The
O'Loughlin Report
Greetings!

Interesting week you might say!
A week where consumer confidence is at a low and savings are at a 30-year high, Aussie dollar off 10c and the threat of interest rates rising - no chance, they're more likely falling!
It goes on... gold is at an all-time high and the US for the first time has lost its AAA credit rating.
Well, all of that is exhausting! The complex web we have created economically is what some pundits say will sustain us. There are certainties in all of this however, and they are that we still need to exist by buying food, fuel and electricity, we still need to drink water, and the trains will be running tomorrow! Oh, and don't forget that Australia is a "Super Power" when it comes to mining resources and that is not going to change in our lifetime. The pace of growth in China and India is sustainable into the foreseeable future and their desire for economic prosperity is unquenchable. Do you know for instance that there are currently 500 five star hotels currently being built in China and hundreds of power stations being erected ... all with our iron ore and coal...
What do you think is going to happen? For what it is worth I think that, given the strength of our economy and our positioning against our largest trading partners, our prosperity is only going to be enhanced. This volatility is here to stay and already I believe Australians are getting used to it. This week the ASX dropped $60 billion in a session and in the following session after lunch it rallied by $85 billion.... Whilst fundamentals may no longer drive the markets, employment prospects have never been better in this country. The economy is growing and will continue to grow. If we want to remain competitive then a positive outlook, an optimistic approach and a determination to be efficient whilst encouraging and nurturing staff is what will sustain a competitive edge. In these types of economic scenarios, many companies take a competitive stance and grow their businesses.
A close mate of mine who is with Australia's leading residential real estate company hires staff in difficult and unpredictable times such as these... and I am doing the same!
Paul O'Loughlin
Managing Director
The O'Loughlin Group
Level 24 / 12 Creek Street
BRISBANE, QLD 4000
(07) 3007 1800
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