The state of the economy at the street level

[Dona Ferentes]

Fully agree on the business lending issue, but the last paragraph is absolutely normal and expected, actually a convoluted twist...
i am surprised it is not extreme, it should and show you how bad is business lending/business enterprising is here
If you have millions , you do not do a business loan for $20k.
The 60% of society are for the most comfortable not to enter a business and for the fraction who do, their starting business need will be small
That only 9% of credit goes to the one percent is a nasty sign established business and wealth has stopped investing in the future here.
Looking at figures and not at ideology bias, this is not good.

I was thinking of putting the 3rd para in the Property thread, as those stats relate to housing lending.

Housing ownership opportunity is zilch if income levels are low.. Most households have two+ income sources to play

 

[wayneL]

This is well beyond street level economics, but of course macro level stuff does trickle down to the street level.

This chick Tiffany Cianci, details some shonky business that has been going on in the last few years in private equity, dodgy derivatives and whatnot. It's actually pretty alarming and could result in a repeat of the GFC.

ETA: @TheVinoMom on X

Have a listen from about 52 minutes on. Well worth a listen.

 

[Dona Ferentes]

40 minute wait for my pizza.

 

[Knobby22]

Finally someone has done it. Very happy.

Chalmers is freezing the beer tax. I have been on about this for years.
Every year the tax goes up and pubs and brewers go broke.

Libs will match it now, I bet.

 

[moXJO]

40 minute wait for my pizza.

Kids were trying to work out what side of the pizza the ingredients go on.

 

[moXJO]

Finally someone has done it. Very happy.

Chalmers is freezing the beer tax. I have been on about this for years.
Every year the tax goes up and pubs and brewers go broke.

Libs will match it now, I bet.

They need to halve it. $18 for a schooner in some places is outright theft. Kids just go out on drugs instead.

 

[qldfrog]

Finally someone has done it. Very happy.

Chalmers is freezing the beer tax. I have been on about this for years.
Every year the tax goes up and pubs and brewers go broke.

Libs will match it now, I bet.

The whole taxation is unbearable.Sadly following step by step the bad example of France with a 20y later as always,:
Massive migration to import Labour voters, more and more public servants as the economy collapses to hide unemployment, so creating always bigger bureaucracy and paperwork, bigger and bigger deficits as you never reduce government expenses, just increase taxes, again and again
Only one point positive vs France: our migration so far is not purely coming to destroy our civilisation and never work.
Moreover as we have no real economy left but mining which is already in the hands of multinationals , there is not much destruction left to be done, our grid, road network and medical system maybe?
Do not be tricked into thinking voting LNP will change anything, ALP LNP now obey the same lobbies , and can only be reelected if sharing the wealth of the minority between the majority so difference is purely cosmetic.
With inflation, bracket creep and low income reduction removed, australian income has never been so taxed .
For a beer liking country, we probably have some of the most expensive common beer in the world not to mention smokos.
High tax created a full black market on cigarettes
Alcohol might follow soon

 

[Smurf1976]

Housing ownership opportunity is zilch if income levels are low.. Most households have two+ income sources to play

Going forward I'm not so sure about this.

The entire concept of being a couple is fading fast from what I'm observing.

It used to be that if someone was single then generally speaking that meant they'd recently broken up with someone or they'd jumped in the deep end of a career or business and were putting all their effort into that.

Today though it's not hard to find someone who's single by choice and has zero interest in dating, that seems far more common now than it was in the past. That itself is a huge change both socially and economically.

That means a lot more single income households.

 

[moXJO]

.

That means a lot more single income households.

Need double the housing stock as well

 

[divs4ever]

Is Australia becoming the Mediocre Country?​

Is Australia becoming the Mediocre Country?

It is becoming increasingly clear cut that Australian ‘mediocrity’ rather ‘exceptionalism’ is seeping in.

www.livewiremarkets.com

i hold WDS and am cautiously interested in buying into BSL and APA ( but NOT rushing )

mediocre .. are we rising towards to the top ( as many tumble around us )

 

[TimeISmoney]

Is Australia becoming the Mediocre Country?​

Is Australia becoming the Mediocre Country?

It is becoming increasingly clear cut that Australian ‘mediocrity’ rather ‘exceptionalism’ is seeping in.

www.livewiremarkets.com

i hold WDS and am cautiously interested in buying into BSL and APA ( but NOT rushing )

mediocre .. are we rising towards to the top ( as many tumble around us )

I don't know Divs, I'm just a puppet in the free markets. The markets do what they have to do to, crush me, squeeze me, jump on me.

How well I can manage my risk is how well I come out the other side.

 

[JohnDe]

Is Australia becoming the Mediocre Country?​

mediocre .. are we rising towards to the top ( as many tumble around us )

I do think that we are in danger of mediocrity and low living standards. We had a good run over the past 40 years, beating most of Europe in living standards, freedom and minimalist governance.

Looking at Europe now and they seem to be coming out of the dark times of excessive regulations and bureaucracy. While we load up the credit card for the children of our children's children to pay off.

 

[Dona Ferentes]

Retail chain Jeanswest to close all stores, more than 600 jobs to go​

 

[wayneL]

Retail chain Jeanswest to close all stores, more than 600 jobs to go​

They should've gotten into hi-vis.

 

[Dona Ferentes]

They should've gotten into hi-vis.

Most clothing is commoditised; the high end stuff is overpriced

 

[wayneL]

Most clothing is commoditised; the high end stuff is overpriced

Yeah... but even bogun tradies will pay more for some BS logo, whether clothing or tools.

 

[dyna]

bogun tradies

That's me , I guess . Well , a long time ago . ( Just a grot , now )
Last week while out window shopping in my posh neighbourhood a local real estate agent who we know , walked past .
She , who knows about these things , told me " THAT is an $ 8,000 dress ! "
Jeebus , I hope it's tax deductible . It'd wanna be .

 

[TimeISmoney]

Yeah... but even bogun tradies will pay more for some BS logo, whether clothing or tools.

Properly a $100 worth on temu .

 

[wayneL]

Properly a $100 worth on temu .

Funny thing, blacksmiths and farriers are extremely snobby about anvils.

Prior to about 18 months ago I had two anvils, a 200lb shop anvil (value ~2.5k) at home and a 100lb travel anvil (value ~1k). And that's mid range you can go a lot more expensive than that... Roughly double.

Anyhow, about 18 months ago I was having some trouble with a rotator cuff and lifting the hundred pound travel anvil in and out wasn't doing it much good.

I saw on vevor a 70lb double horn anvil for $165 Despite being the subject of ridicule and scorn for buying a cheap Chinese anvil, 30 pounds is 30 pounds when you're lifting it in and out all day.


Now that my shoulder has recovered I have gone back to the bigger travel anvil but the little Chinese one was actually quite good, absolutely nothing wrong with it, apart from being just a little bit lighter than I would want it.... and dare I mention I have some of those lime green tools in my truck?

 

[moXJO]

Funny thing, blacksmiths and farriers are extremely snobby about anvils.

Prior to about 18 months ago I had two anvils, a 200lb shop anvil (value ~2.5k) at home and a 100lb travel anvil (value ~1k). And that's mid range you can go a lot more expensive than that... Roughly double.

Anyhow, about 18 months ago I was having some trouble with a rotator cuff and lifting the hundred pound travel anvil in and out wasn't doing it much good.

I saw on vevor a 70lb double horn anvil for $165 Despite being the subject of ridicule and scorn for buying a cheap Chinese anvil, 30 pounds is 30 pounds when you're lifting it in and out all day.


Now that my shoulder has recovered I have gone back to the bigger travel anvil but the little Chinese one was actually quite good, absolutely nothing wrong with it, apart from being just a little bit lighter than I would want it.... and dare I mention I have some of those lime green tools in my truck?

I'm seeing a lot of tools on temu that sell here for 3x the price. Exact same tool.

I bought a bunch of fake dewalt battery's to try them out. Anyone that uses dewalt knows the batteries often get a dead cell that renders them useless. They also stopped using nickel strip's so you can't easily change the cell out.
Anyway the battery's work really well. So far less faults then the dewalt.