Two things happened experts like Paul Keating are saying in last week that suggest to some that the Australian economy could be headed for recession. The first was the collapse of the First Fleet trucking company and the second was the release of the Australian Industry Group,s Performance of Service Index.(PSI) which slumped 7.4 points.So Who was First Fleet Its a company that has been going more than 20 years

Economies all around the world are struggling Doc.

It's the 'system' - the global financial system - that's unsustainable and that's putting pressure on in all sorts of places.

As I understand it, Australia's mineral boom has been reliant on China for the most part and China is slowing down its building programmes which has an obvious effect on Australia. And Australia is our largest trading partner and market so... another downturn for us I imagine.

Arandar, Yes it looks like the start.First Fleet Trucking Firm has gone into receivership after 20 years in business and put 1000 workers out of work with pay unreceived and entitlements.

AND they are selling parts of Tasmania to NZ,to run dairy herds.Or did I dream that up.Oh the poor tassie Devil.He will get trodden on.

Mona, We were in Tassy a few weeks ago and saw those devils. I think its the New Plymouth Borough Council that is looking to invest in Tassie dairy farms.