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The Australian Economy Is Faltering (Read 826 times)
whiteknight
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The Australian Economy Is Faltering
Nov 10th, 2019 at 6:10pm
 

RBA downgrades economic growth, consumption continues to crash   Sad
8 November 2019
ACTU

     RBA downgrades economic growth, consumption continues to crash

The RBA has downgraded its expectations for GDP growth to 2.3 per cent this year and 2.6 per cent in the year to June next year. That is down from 2.4 per cent and 2.7 per cent respectively.

Household consumption has also slowed, as working people head into the seventh consecutive year of record low wage growth and are increasingly raiding any savings they may have to pay for essential items.

Household consumption grew by 0.4 per cent in the June quarter and by 1.4 per cent over the year. Growth for all consumption categories except health slowed relative to the previous year, although the slowdown was more noticeable for discretionary components like furnishings and motor vehicles.

The RBA statement on Monetary Policy released today also stated “wages growth is low and shows little sign of picking up”.

The Australian economy is faltering. We have the slowest economic growth since the GFC, a wages crisis, households being forced to dip into their savings, low consumption and retail trade has had its worst result since the 1990s recession.

Quotes attributable to ACTU Secretary Sally McManus:

“The legacy of the Morrison Government will be an historic period of low wage growth which has driven down living standards for millions of working Australians and stalled economic growth.

“Wage growth is now going backwards in new private sector agreements, the Morrison Government has no plan to fix the crisis in wage growth crisis, only more attacks on working people and unions.

“Working people create economic growth through spending, but the Morrison Government has implemented a deliberate plan to stop wage growth, and the result of that is lower spending, and slowing growth.

“The Morrison Government is so committed to trickle-down economics that even as the RBA downgrades economic growth, they are preparing to bring the Ensuring Integrity Bill to the Senate, a Bill which will make it harder for all Australian workers to get a pay rise.

“The Morrison Government is the source of this problem. It has driven down wages and all Australian workers are being forced to pay the price.”
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juliar
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Re: The Australian Economy Is Faltering
Reply #1 - Nov 11th, 2019 at 5:33am
 
The silly old BlackDay with the Compulsive Posting Disorder is parroting the trash from that Extremist Commo Socialist Feminazi sheila at the ACTU. You know the mouse that roared but nobody took any notice as she is so useless and insignificant. A bit like the old BlackDay.

After all it is the Union Thugs aided by the GetUp! terrorist group that is sending Australia down the drain.
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Sir lastnail
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Re: The Australian Economy Is Faltering
Reply #2 - Nov 11th, 2019 at 10:24am
 
As opposed to the trash you post socko Cheesy LOL
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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greggerypeccary
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Re: The Australian Economy Is Faltering
Reply #3 - Nov 11th, 2019 at 10:32am
 

“The legacy of the Morrison Government will be an historic period of low wage growth which has driven down living standards for millions of working Australians and stalled economic growth."


...


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juliar
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Re: The Australian Economy Is Faltering
Reply #4 - Nov 11th, 2019 at 11:01am
 
What a pair - the uneducated ignoramus Greeny Scunge and the shaky old Gweggy. Is Gweggy going senile ? Sounds like it.
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Captain Nemo
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Re: The Australian Economy Is Faltering
Reply #5 - Nov 11th, 2019 at 11:14am
 
Life is strange ...

Low inflation, "moderate" wage growth ...

I well remember interest rates when they were at 18%  Shocked

...

I can tell you, this is way better than back then.  Wink
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The 2025 election could be a shocker.
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Sir lastnail
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Re: The Australian Economy Is Faltering
Reply #6 - Nov 11th, 2019 at 11:26am
 
greggerypeccary wrote on Nov 11th, 2019 at 10:32am:
“The legacy of the Morrison Government will be an historic period of low wage growth which has driven down living standards for millions of working Australians and stalled economic growth."


https://theaimn.com/wp-content/uploads/2019/04/Morrison-e1555989508493.jpeg




plus keep real estate agent scumbags in a job and forget everyone else's job Sad
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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juliar
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Re: The Australian Economy Is Faltering
Reply #7 - Nov 11th, 2019 at 4:25pm
 
Capt N is getting nostalgic and recalling the frightening days of Labor's chaos.

The uneducated ignoramus Greeny Scunge is wishing she had an adult brain.
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minarchist
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Re: The Australian Economy Is Faltering
Reply #8 - Nov 13th, 2019 at 10:45am
 
This guy seems to know what's happening:

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People accuse Capitalism of being a "dog eat dog" system, yet it was the Communists who ate each other when they were starving!
 
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Bam
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Re: The Australian Economy Is Faltering
Reply #9 - Nov 13th, 2019 at 11:20am
 
minarchist wrote on Nov 13th, 2019 at 10:45am:
This guy seems to know what's happening:


A good video, worth watching.
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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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crocodile
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Re: The Australian Economy Is Faltering
Reply #10 - Nov 13th, 2019 at 2:32pm
 
minarchist wrote on Nov 13th, 2019 at 10:45am:
This guy seems to know what's happening:



Explained well enough but very Euro-centric and Japanese to a lesser extent. Werner is the father of quantitative easing so no surprises there. Greater relevance to Australia would have been useful with a description of the function of APRA in our local banking and finance industries. Still, a well presented gig.
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Very funny Scotty, now beam down my clothes.
 
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Bam
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Re: The Australian Economy Is Faltering
Reply #11 - Nov 13th, 2019 at 10:10pm
 
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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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Grappler Truth Teller Feller
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Re: The Australian Economy Is Faltering
Reply #12 - Nov 13th, 2019 at 11:20pm
 
I was lead to believe that Australia had given away any economy it had and was going it alone as a Banana Republic selling dirt...

Our government(s) are not going to play their filthy game of making their own nation prosperous from the labour of its people and their natural gifts in resources and other fine Western things ... even if it means selling the furniture - they still have principles, you know... and let me tell you, by golly - the people are right there with them!!

Bloody socialists demanding a fair go for everyone... where will it end?

Besides - they've got more important things to do - such as canceling Australia Day and closing off national mountains and canceling Christmas and promoting 'women's issues' constantly.......

You pack of communists....
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« Last Edit: Nov 13th, 2019 at 11:25pm by Grappler Truth Teller Feller »  

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams
 
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juliar
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Re: The Australian Economy Is Faltering
Reply #13 - Nov 14th, 2019 at 10:35am
 
Despite the emotional fake news and forecasts from the Lefties, the Australian economy is expected to pick up in 2020 after another RBA interest cut.
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Grappler Truth Teller Feller
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Re: The Australian Economy Is Faltering
Reply #14 - Nov 14th, 2019 at 10:38am
 
juliar wrote on Nov 14th, 2019 at 10:35am:
Despite the emotional fake news and forecasts from the Lefties, the Australian economy is expected to pick up in 2020 after another RBA interest cut.


I await this with a breathless lack of expectation...
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams
 
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