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.

Bam wrote on Feb 21^st, 2019 at 11:53am:


Exactly!

cods wrote on Feb 21^st, 2019 at 12:05pm:


Most of those jobs lost will be dumbarse tradies, realestate scumbags and property developers who have had it good for too long chiseling borrowed money out of them Many other sectors of the economy did not benefit from this government sponsored housing and immigration ponzi scheme. I will be glad to see it dismantled and Australia take a good dose of reality !

It wasn't so long ago that you were gloating about the prospect of selling your house to the highest foreign bidder whilst you expected the young locals who were priced out of the market to keep going to work so their taxes could pay for your pension. Looks like you might have missed the boat

And less money to spend means more will be shopping at Aldis.

With china blocking our coal exports a recession is inevitable. We are no better than a country like Brazil

In all honesty

It seems a little strange

Both parties are trying everything, not to be elected, while pretending they want to be elected.

The last time a party went to this much trouble to avoid being elected, we had the GFC.

I reckon something is coming
And it's going to be nasty
And neither party wants to be in power when it hits.

Mark my words.

Sir lastnail wrote on Feb 21^st, 2019 at 10:18am:



Yeah, if Labor gets in, it will happen.  Otherwise - nah.

Frank wrote on Feb 22^nd, 2019 at 5:54pm:


A certainty if we keep either....... we've been there for years already.

Frank wrote on Feb 22^nd, 2019 at 5:54pm:


It won't matter if it's Labor or liberal. They are just two sides of the same coin. We have no powder left in the gun and are just relying on luck to get us by. The luck is fast running out.

Those whom HAD THE RESPONSIBILITY, to run the Local/Global Economy, had things easy for quite some time (About 200 years), because the Major underlying factors, which pretty mauch ensured Economic Growth, were actually in a "Fairytale" situation for some 200 years!

Those factors being -
1) Demographics
2) Energy
3) Positive/Fairytale Climate

All of the Positivity has now "Evaporated" and Economic events have begun to side, DOWN!

We are now entering a period (Have already entered), when ALL THOSE WHO MAKE DECISIONS, at the Local & Global
levels, should have started making decisions for the "Long Term Good of All", BUT THEY DID NOT & THAT HAS & WILL BE REFLECTED IN WHAT IS NOW AHEAD!

WE will ALL HAVE TO VIEW THINGS DIFFERENTLY, BECAUSE THOSE 3 MAJOR FACTORS HAVE NOW CHANGED!

Yep.
Australia used to be a place of
Even Sydney and Melbourne could live up to that standard.

But then after 2000.
Australia 'Sold Out' and was the name of the game.

Jasin wrote on Feb 23^rd, 2019 at 7:28pm:



We could always take those 1600 Somalis - that would help them?

Sir lastnail wrote on Feb 24^th, 2019 at 11:10am:



No way Nail - the Labor party will welcome them here -
the more that arrive the more votes the Labor party gets.
Import Labor voters.
They'll get a pile of money,  free medical & dental - they'll be on easy street.
We have to pay for it as taxpayers - there's no choice on our tax return.

Can anyone else feel a recession coming on ?

Sir lastnail wrote on Mar 6^th, 2019 at 1:23pm:


Yes, and it will be fast-tracked by Bowen / Shorten.