Certified Financial Planner professional, Matt Hern has three times been awarded as one of Australia's Top 50 Financial Planners by The Australian Financial Review Smart Investor. He is passionate about guiding you on the right financial choices to achieve what you really want. Matt Hern is an Authorised Representative of Charter Financial Planning Limited AFSL 234665. All information is general advice only.

2 responses to “I declare the downturn to be over”

  1. Dad

    I agree Digger. It is not clever to be pessimistic and keep checking for the sky to fall in. I hereby affirm that the downturn is over and the economy is rapidy returning to previous levels and beyond.
    I check all of your messages and am well pleased with the work that you are doing and the information that you present. Good fortunes mate . I love you.

  2. Gihan Perera

    Hey Matt, I like your idea … But how would this work in practice? Is it realistic?

    How would this sort of affirmation pay the mortgages of U.S. deadbeats who knowingly took out loans they had no intention of repaying? Or increase the demand for steel from China, which dropped after the Beijing Olympics? Or rescue the U.S. car industry, which is already bankrupt?

    I can understand the market being driven by sentiment, but aren’t there underlying fundamental reasons for this downturn? Do we *want* to start relaxing credit again to encourage those dodgy loans? Or boost house prices to those unsustainable artificial levels? Or promote those over-leveraged securities that caused this whole sorry mess?

    I’m not being pessimistic here. I’m just trying to understand the cause of this downturn. And I’m not convinced we can fix it simply by declaring it’s fixed.

    That said, I do believe that what we think about we notice (NOT that “what we think about, we attract”, which is the fundamental flaw of “The Secret”). So yes, if we’re thinking recession, we’ll notice lots of recession-oriented stuff. Nothing wrong with that – it’s just what you *do* about it.

    Gihan

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