Sunday, February 14, 2010

Education, Innovation and Technology

So here in Australia there is a feeling that we have somehow escaped the major effects of the GFC and business is almost back to normal.

Small business in particular are enjoying the fruits of the Federal Government handouts - running around in their new 50% discount 4 wheel drives and enjoying Kevin's multiple handouts for insulation, computers and other "investment incentives". They are laughing all the way to Bali - or New Zealand.

It has become so bad that both large and small business now have the expectation that government will continue shovelling cash at them. Apparently all they need do is exist and hold out their hands - and the cash will continue to flow. I see and hear about it every other day.

But elsewhere - in the United States where the GFC has had a major adverse impact - there is mammoth effort going into modernisation and innovation and technology and education - because they have escaped the bullet and recognise that they need to do something before the next one demolishes them.

This is an example of what is happening there - and what should have been a major part of the investment mix here.

But hey why build a "NextFab" when you can have a new 4 wheel drive on the Government.

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