GFC and the resources sector

All we hear these days are the masters of the universe saying 'boogaboogabooga: Global Financial Crisis!!'

With a global recession looming, aren't i somewhat scared of leaving the saftey of academia and commencing a career in the real world? Especially in an industry that is so exposed to the global economic cycle?

I had a think and the short answer is no, she'll be right.

I've read the newspapers and seen the evening news. Yes, this year will not be as good as the last, but i think everyone needs to chill out and seek some perspective. The world is still here, and even after the greatest fall in wealth since the great depression of the 1930's, we are still better off then we were 20 years ago. While increasing over the centuries, on a smaller scale the economy is cyclical. A lot of people seem to have forgotten that.

Over the last few years, those with property and substantial investments made money for doing nothing. Then, one family's capital gain was causing anothers housing affordability crisis. But now it seems to me like those who were left out of the boom times are now benefitting the most. Petrol prices, airfares, rents, house prices and interest rates are all at all time lows. For all those who have been shut out of the system for the last few years, this is our time to step forward on that journey towards financial independence.

As a mining engineering student, i am not worried. This is pretty much the best time to be a mining engineer about to graduate. Like those investors who bet on house prices rising forever, some resources companies that positioned themselves for a never ending boom are not doing so well. However, those companies, like families, who put a few bob aside for a rainy day are positioning themselves to take advantage of the economic recovery due to commence in a few years time. I have one year of uni left, and having applied myself, i'm confident i'm going to get into a two year graduate program. I'll be applying for my first real job as an 'engineer' in late 2011, good timing if you ask me. People a few years ahead of me will be switching sideways, others will be hanging in until their super recovers and will then move on. At the end of the day the fundametals are solid, billions of people in Asia are putting one foot in front of the other towards a better life. This demands the materials which providence has gifted australia with. Many of the uninformed students coming through behind me will shy away from ths field because of the bad press. I'd put money on another 'skills shortage' in 5 years time and the whole thing repeating itself.

Whatever our situation, at the end of the day we have to remember that this is the greatest country in the world. The poorest family in this country has better access to healthcare, education, food and protection than even the US. Whether we live like King's or on a bench in Queen St mall, we are better off than the other poor buggers that live on this rock.

Whatever your political stripes: Stop trying to scare me, stop bribing me and stop using the GFC as cover for doing a bad job. Don't help me, help those that are dying from diseases first cured in the dark ages, help those poor people having to fight for a bag of rice, help those poor families at risk of having their heads chopped off because they dare to send theier daughters to school. If you don't want to send the money offshore, then fine give it to those in QLD and Victoria ravaged by floods and fire, use it to pull a failed generation of australians out of the darkness.

We can take care of ourselves thankyou very much, get to work helping those who can't.