Australia's Shaky Economy

#Recession #Economy #HeiseSays
Australia's economy has been on shaky ground for some time.

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[kenmaller]

I’d think we Australia would be in a better situation if us the people weren’t in so much debt .
People are just mortgaged to the hilt and have no savings no buffer people are living from week to week.
1 million for an average house is just stupid .

[robertking]

When the going gets tough, the tough get going. Sadly the majority of Australians are no longer that tough.

[stevecunningham]

We are going to get back to reality. No more $10 cups of coffee.

[brett]

I’m not sure Australia’s direction over the last many years of borrowing money to spend was such a good idea. Buying things you can’t afford . You can only do that for so long. Housing prices in Australia have been flat for 3 years with Sydney and Melbourne having a 15% drop month ago with a little lift back. Meanwhile Australia has the highest household debt in the world. Wages stagnant. Australia in at the top of a bubble for years looking for any little reason to pop it. Well here we are. Australians are so connected to housing that some real bad outcomes could come from house prices. Problem is housing takes time to get out of and get new data . Keep a eye on job losses, housing listings and anything related to rentals

[howlermonkey]

I've just got back from Aldi, people are certainly spending, there's no meat, no toilet rolls, no sanitizer,
painkillers, unbelievable even all the cheap wine is gone, checkout lady said people queue at the front door hours before the store FREAKIN NUTZ.

[jaggynettles]

our politicians don't know how to tell the truth 🤐🤐

[herculesmichas]

I agree, stop welfare for business! Let natural competition take place. Its a big mistake to bail out business that broke and pathetic.

[richardshaules]

Keep up the great work as always matey :)

[havachat]

I spoke to a friend in Sydney today who told me that he had just finished sharpening his shovel. Any looters, he will take their head off. We're lookin good.

[philleach]

40 years ago my grandma told me to make hay while the sun shines and save for a rainy day . That’s what I did. Unfortunately most have been partying in the sun, it’s raining now and about to start bucketing down .
Most are screwed
Thanks for waking people up

[Chris-cdse]

I find it impossible to understand the thinking of the Australian people, who day by day suffer so terribly at the hands of those tyrannical parliaments, both state and federal, and yet at every election they re-elect them.
When they fill-in those ballot papers, they, with their own hands, of their own choosing, voluntarily consent to their own enslavement, to voluntary servitude. Poor stupid peoples.
How many have taken the time to sit and seriously consider these things?
Those parliaments derive their power from the people, and the people only; without us they would have no power. We confer that power to them when we elect them. If we do not elect them they will have no power!
And the answer: do not elect them to power; just spoil your ballot papers. You need do no more.
Think on these things.

[Mik]

AFR reported 20-30% GDP contraction in Q2 earlier today.

[richardmattocks]

When a REAL problem hits, it’s amazing just how few things people NEED to buy. The economy only works when everything is happy and smelling of kittens. People only buy frippery when they have spare cash in abundance. When things turn down and people stop spending, it’s all over. Nobody NEEDS half the stuff we fill our homes and lives with.

[Herman-hrti]

Why legislate the temporary measures to isolate? Are they planning to use the legislation again?

[Herman-hrti]

Here is my prediction.... Next month they will take advantage of the panic buying and bring the third quarter forward to reflect the increased spending and say all is good.

[paultyler]

Supplies of goods is going to go down (due to corona measures+ recession) and the money supply is going to increase driving demand (due to is the formula for hyper inflation

[chrisdeason]

We are looked upon as being a commodity, number of years work that can be extracted from you.

[memineown]

Sweet. Retail declined because the spending power of the consumer (wages) dropped. Why are wages not keeping up with inflation? Anyone? It starts with fair...work...and ends with no, none for you.

[buttonmonkey]

Maybe get rid of$38b /yr to a small minority group that doesn't work or rarely works

[historyalwaysrepeats]

Heise has no need of a blue pill, his black pill has kept him Up for 192 hours straight.