Australian Politics Forum - Here comes the recession

Bam

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Here comes the recession
Aug 28^th, 2019 at 4:23pm

Construction recession deepens and spreads across all sectors
Quote:

Key points:
* Construction work has fallen 11pc over the past twelve months and, in terms of value, it has retreated to levels reported at the start of 2017
* Home building has fallen for four consecutive quarters to be down 10pc over the year
* The "ugly" result is expected to have a material impact on second quarter GDP, slicing around 0.4ppt off growth

Virgin Australia to slash 750 jobs after posting $349 million loss
Quote:

Key points:
* Virgin Australia has posted an underlying loss before tax of $71.2 million
* In response, the airline is cutting 750 office jobs and also planning to cut its capacity (the number of seats available)
* The airline also blamed rising fuel costs and a lower Australian dollar for its worsening financial performance

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Bam

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Re: Here comes the recession
Reply #1 - Aug 29^th, 2019 at 11:36am

Woolworths to close 30 Big W stores as profit tumbles
Quote:

Key points:
* Excluding the impact of the sale of its petrol franchise, Woolworths' normalised profit fell 7pc to $1.5b, well short of analyst estimates
* The $1.7b sale of the petrol business supported a 9pc jump in the full-year dividend to $1.02 per share
* Big W continues to be a drag on profits, with 30 stores earmarked for closure

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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Sir Spot of Borg Gold Member Offline WE ARE BORG Posts: 26460 Australia	Re: Here comes the recession Reply #2 - Aug 29^th, 2019 at 11:47am Its been a recession for a while now. I wont miss big w and their overpriced chinese crap though Spot
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Bam Gold Member Offline Australian Politics Posts: 21905 Gender:	Re: Here comes the recession Reply #3 - Sep 1^st, 2019 at 10:10am GDP to take another step down, but how low will it go?
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cods Gold Member Offline Australian Politics Posts: 88048	Re: Here comes the recession Reply #4 - Sep 1^st, 2019 at 10:44am listen to the cheering from our lefty chums.... it wouldnt have anything to do with consumers would it?? of course not its all scomos fault..
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Ajax Gold Member Offline CO2 has never controlled temperature on Earth Posts: 10958 Australia Gender:	Re: Here comes the recession Reply #5 - Sep 1^st, 2019 at 12:22pm If we do have a recession its all technical and created by the oligarchy they tend to give a little to the plebs only at a latter date to take it away. Globalization, free trade and the central banking system.
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Gnads Gold Member Offline Australian Politics Posts: 28107 Gender:	Re: Here comes the recession Reply #6 - Sep 1^st, 2019 at 12:32pm Sir Spot of Borg wrote on Aug 29^th, 2019 at 11:47am: Its been a recession for a while now. I wont miss big w and their overpriced chinese crap though Spot What's not made in China & sold in Australia at ridiculous mark ups?
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Gnads

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Re: Here comes the recession
Reply #7 - Sep 1^st, 2019 at 12:34pm

Bam wrote on Aug 28^th, 2019 at 4:23pm:

Construction recession deepens and spreads across all sectors
Quote:

Key points:
* Construction work has fallen 11pc over the past twelve months and, in terms of value, it has retreated to levels reported at the start of 2017
* Home building has fallen for four consecutive quarters to be down 10pc over the year
* The "ugly" result is expected to have a material impact on second quarter GDP, slicing around 0.4ppt off growth

Virgin Australia to slash 750 jobs after posting $349 million loss
Quote:

Key points:
* Virgin Australia has posted an underlying loss before tax of $71.2 million
* In response, the airline is cutting 750 office jobs and also planning to cut its capacity (the number of seats available)
* The airline also blamed rising fuel costs and a lower Australian dollar for its worsening financial performance

Good grief they can't make up their mind .....
companies whinge when the dollar is too high

now it's lower they still whinge

and people have the gall to call farmers whingers.

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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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Gnads

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Re: Here comes the recession
Reply #8 - Sep 1^st, 2019 at 12:39pm

cods wrote on Sep 1^st, 2019 at 10:44am:

listen to the cheering from our lefty chums.... Cheesy

it wouldnt have anything to do with consumers would it?? of course not its all scomos fault.. Grin

It's got everything to do with govt when they can't balance the books & the cost of living increases, and all they are good at is attacking workers wages & conditions.

When people don't have enough money to spend the economy suffers.

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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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Mattyfisk

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Re: Here comes the recession
Reply #9 - Sep 1^st, 2019 at 12:59pm

cods wrote on Sep 1^st, 2019 at 10:44am:

listen to the cheering from our lefty chums.... Cheesy

it wouldnt have anything to do with consumers would it??

No, dear, it would not. Consumers don't just stop consuming all at once.

It's caused by a stagnant housing market and dwindling Chinese growth, the two things that have kept Australia out of recession for the past decade.

A third, the trade war started by America, has seen the Chinese Yuan drop in value, resulting in the Australian dollar going down. The Chinese government has steadied its stimulus, resulting in a drop in demand for iron ore.

The drop in the housing market, with all that state government stamp duty, has seen all those newly built apartments stay on the market. It's not a crash, just a stagnant lull. Rather than take a loss, people just aren't selling. But crucially, the banks have tightened their loan conditions after the banking Royal Commission, so people aren't able to borrow. The interest rate is at its lowest in years anyway, so income from interest has plunged.

And no, dear, it's not Scott Morrison's fault.

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Mattyfisk

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Re: Here comes the recession
Reply #10 - Sep 1^st, 2019 at 1:00pm

Gnads wrote on Sep 1^st, 2019 at 12:39pm:

cods wrote on Sep 1^st, 2019 at 10:44am:

listen to the cheering from our lefty chums.... Cheesy

it wouldnt have anything to do with consumers would it?? of course not its all scomos fault.. Grin

It's got everything to do with govt when they can't balance the books & the cost of living increases, and all they are good at is attacking workers wages & conditions.

When people don't have enough money to spend the economy suffers.

True. But crucially, it has everything to do with government because they collect less tax.

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cods

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Re: Here comes the recession
Reply #11 - Sep 1^st, 2019 at 2:52pm

Mattyfisk wrote on Sep 1^st, 2019 at 12:59pm:

cods wrote on Sep 1^st, 2019 at 10:44am:

listen to the cheering from our lefty chums.... Cheesy

it wouldnt have anything to do with consumers would it??

No, dear, it would not. Consumers don't just stop consuming all at once.

It's caused by a stagnant housing market and dwindling Chinese growth, the two things that have kept Australia out of recession for the past decade.

A third, the trade war started by America, has seen the Chinese Yuan drop in value, resulting in the Australian dollar going down. The Chinese government has steadied its stimulus, resulting in a drop in demand for iron ore.

The drop in the housing market, with all that state government stamp duty, has seen all those newly built apartments stay on the market. It's not a crash, just a stagnant lull. Rather than take a loss, people just aren't selling. But crucially, the banks have tightened their loan conditions after the banking Royal Commission, so people aren't able to borrow. The interest rate is at its lowest in years anyway, so income from interest has plunged.

And no, dear, it's not Scott Morrison's fault.

OMG you mentioned the Chinese..and you a member of the BPB party... bam will be very disappointed in you reminding us how much POWER they have or is that money.. Shocked

its hard to tell the difference between the Unions and Getup and now the Chinese.... no wonder they have so many meetings...or is that dinner parties... Wink

maybe a collection at ALDIs Christmas party this year.... Grin

party did you get it pet????

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Mattyfisk Gold Member Offline Australian Politics Posts: 92377 Gender:	Re: Here comes the recession Reply #12 - Sep 1^st, 2019 at 4:04pm I think we've lost poor Cods again. It's that time of day.
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Jasin

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Re: Here comes the recession
Reply #13 - Sep 1^st, 2019 at 4:52pm

It's only a Recession in Australia because the Australian Market is heavily dependent on other countries and could never be 'self sustainable' a Market of its own accord.

Sadly for Australia - when countries like the USA & Britain (USA is a 4th World Economic nation) falter, Australia faulters with them like some State or Shire in their backyard.

Now if Australia invested in the 'Black' Market (not this Red one Roll Eyes

about to have a Recession) - we might be right or even ahead.
But hey - that's like doing Trade with African nations, rather than North American, let alone Asian. Hell - trade with Africa and you'll probably get called a Racist Enslaver for putting all those Africans to work! Roll Eyes

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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.

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Valkie Gold Member Offline Australian Politics Posts: 16096 Central Coast Gender:	Re: Here comes the recession Reply #14 - Sep 1^st, 2019 at 5:45pm Look, Stop panicking, it will be at least 18 months before it hits That's when I plan to retire And I'll be something will f#$k it up, that's just how my life is.
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