Things have been very quiet since the banks got a serve and no longer throw money at fools to buy old houses and junk apartments. Foreign investment into property deals has dropped by 58% I hear. The spill on effect is starting to bite with not much disposable income to throw around and that will effect the rest of the economy. It's a problem when your whole economy is based on a deck of cards and a ponzi scheme.

red baron wrote on Feb 21^st, 2019 at 10:33am:


Oh, red   

It was an economist on Sunrise Gregg, I don't recall his name but the item did in fact occur..Do you have a problem with that?

Incidentally I predicted the start of the Dropoff in the real estate market way long before it occurred and I predicted it on this forum

I will also go on record as saying that I agree with the economist, we are borderline on recession now

We are in fact almost on flatline now with growth in our economy, it's only a matter of time before we tip

red baron wrote on Feb 21^st, 2019 at 10:44am:


It's what happens when you keep throwing good money after bad at property deals and letting manufacturing go to waste

Jasin wrote on Feb 21^st, 2019 at 10:57am:


The Sunrise program is part of the problem.

2018 was the car industry's worst on record since the 60s , this is what an uninspiring government that makes sure your wages stay low does

Its time wrote on Feb 21^st, 2019 at 11:09am:


and makes you make up for it with more credit cards

The economic downturn is inevitable, and the warning signs have been there for a few years. The key indicator is household savings. Rising costs and stagnant wages have forced households to run down their savings, and when these run out they have to cut back spending. When this happens, the economy must falter.

Other economic measures have pointed to a weakening economy such as declining house prices.

The Coalition can be rightfully blamed for causing this. They have been actively driving down wages by flooding the economy with foreign workers, restricting the ability of unions to negotiate better wages for workers, ignoring rampant wage theft, and persecuting the unemployed in various ways so as to make workers fear unemployment more. They have been putting out forecasts in every Budget that claim wages will rise, but all of these Budget predictions have been optimistic projections made up out of nothing.