As for Australia I still think it is too early to say the economy will bounce back this year. Perhaps the nation has escaped a technical recession but I wonder at what cost and by doing so has the RBA and Government created our own little economic bubble?

Australia has not had a recession now since the early 1990’s..can things really be that good?

First day of the new workplace laws… I wonder how these will impact small business?

I think all the nasties from 08/09 are behind us and we are just in a shaky recovery phase. The worst may be over but I think it will be a drawn out recovery as there is a lot of debt, rates are rising, and these new workplace laws could have a flow on effect to unemployment and consumer spending. Looks like the Christmas trade was down. Just walking through the shops – it was busy – but did not seem like the crazy rat race of some years past. It will be interesting to see these figures when they come out. Also the roads did not feel as busy either – maybe a few people chose to stay at home these holidays?

I think the main stumbling blocks will be self inflicted. Things such as the debt burden of continued government spending and pushing through crazy things like an ETS. It is an election year so anything goes.

Keep our eyes open and have a safe and happy 2010.