Economic implications of a SARS/Coronavirus outbreak

[hja]

Is that a dance routine you are banking on?

Yeah it's from that Shakira song: thighs don't lie
https://i.redd.it/068hzjo99b421.jpg

 

[Smurf1976]

Latest news of the impact is that Myer are closing all stores nationally and standing down 10,000 staff.

Hairdressing chain Just Cuts is also closing until further notice. Most of these are franchised operations apparently but according to media reports there's about 2500 staff affected between them all.

One issue I see is that we're rapidly approaching a point of many products not being available from any physical store. Excluding things like food, if you needed a new washing machine or phone then a point is very rapidly approaching where your option is to buy a second hand one from whoever or go without.

 

[jbocker]

Bunnings is not closing. It will continue to supply cheap overseas rubbish, as lots of home isolation means jobs get done around the house.
If there is an area I would like to see return, it is some of the old corner hardware stores with some quality products, but I feel society wont accept that style of shopping again. At lease diminish overseas rubbish and stock some Aussie made quality. I have seen alternative stores but they are very scarce and quite range limited.

 

[againsthegrain]

Latest news of the impact is that Myer are closing all stores nationally and standing down 10,000 staff.

Hairdressing chain Just Cuts is also closing until further notice. Most of these are franchised operations apparently but according to media reports there's about 2500 staff affected between them all.

One issue I see is that we're rapidly approaching a point of many products not being available from any physical store. Excluding things like food, if you needed a new washing machine or phone then a point is very rapidly approaching where your option is to buy a second hand one from whoever or go without.

This might actually bring back the demand for repair shops and businesses. This could be a good thing in disguise. The last 15 years nobody gets a TV repaired, fridge washing machine less and less because cheaper to buy a new one that lasts 3 years or warranty runs out.

1. local businesses hiring locals to repair appliances
2. Higher quality control with products using more local made components

 

[Dona Ferentes]

One issue I see is that we're rapidly approaching a point of many products not being available from any physical store. Excluding things like food, if you needed a new washing machine or phone then a point is very rapidly approaching where your option is to buy a second hand one from whoever or go without.

The winners and losers are going to be capricious, almost arbitrary. Some say the preppers had it right (but why the focus on toilet paper?)

Bought a (item) last year, and you're fine; delayed till now, and whoops, tough luck
Went on a holiday last year, wonderful; sailed on a cruise in March.. like Lotto, only with downside
Let alone the sequencing; only just in workforce and casual.. Ouch. Work in a niche (remote telecoms, for eg) and yor're run into the ground

 

[Movendi]

got the flation part right. So far money printing has led to deflation. QE'd

Can you explain why this would cause deflation rather than inflation?

 

[sptrawler]

Latest news of the impact is that Myer are closing all stores nationally and standing down 10,000 staff.

Hairdressing chain Just Cuts is also closing until further notice. Most of these are franchised operations apparently but according to media reports there's about 2500 staff affected between them all.

One issue I see is that we're rapidly approaching a point of many products not being available from any physical store. Excluding things like food, if you needed a new washing machine or phone then a point is very rapidly approaching where your option is to buy a second hand one from whoever or go without.

A few days ago, the bloke over the road who wholesales furniture, said Hardly Normal had run out of freesers, don't know if it is local or more wide spread.
(don't mention the spelling of freeser, the bloody keyboard has just stuffed up). Shame it is a laptop.

 

[hja]

A few days ago, the bloke over the road who wholesales furniture, said Hardly Normal had run out of freesers, don't know if it is local or more wide spread.
(don't mention the spelling of freeser, the bloody keyboard has just stuffed up). Shame it is a laptop.

Yes and I believe it's spelt fleeser in the Daigou community. At least I've heard that they had contributed to the shortage. If you're able to decipher the characters through google, you might like to check on Alibaba and other such exchange sites for confirmation.

 

[barney]

(don't mention the spelling of freeser, the bloody keyboard has just stuffed up)

Lol … Bugger …. Try 'key mapper' or similar perhaps??
https://www.raymond.cc/blog/make-certain-keys-on-a-keyboard-to-act-like-other-keys/

Or use the 2 key maybe ... know one will even notice ... Free2er, fro2en .. ok, maybe they will notice

 

[qldfrog]

got the flation part right. So far money printing has led to deflation. QE'd

Yes but now it is going to be unprecedented, gfc looking like a joke, and obviously we will be hit harder then others with our unique link to the chinese economy
I do not see how our aud could sustain, and with no jobs but welfare direct or indirect, income can not catch up so inflation would be unsustainable
So reduced aud, more assets sold to China..mines, agricultural land and debt boom.. anyway would not be surprised to see something specific to Australia

 

[frugal.rock]

I can imagine all the TP and meat hoarders got home and then realised that they needed extra ice box storage, then ran out and bought a fresia! haha.
@sptrawler is the laptop a Toshiba per chance?
F.Rock

 

[Skate]

the bloody keyboard has just stuffed up). Shame it is a laptop.

@sptrawler, you are a prolific poster & your keyboard gets a good workout. It might be the time to upgrade to a WiFi keyboard & mouse (connect your laptop to an external monitor for the full experience)

I read all your posts so it in my interest to suggest the above. Without you & a handful of other posters this community would die a slow death.

Skate.

 

[IFocus]

A few days ago, the bloke over the road who wholesales furniture, said Hardly Normal had run out of freesers, don't know if it is local or more wide spread.
(don't mention the spelling of freeser, the bloody keyboard has just stuffed up). Shame it is a laptop.

Bit surprised its not the "F" key that failed I have noticed usually after a few reds its gets a heavy work out

 

[sptrawler]

Bit surprised its not the "F" key that failed I have noticed usually after a few reds its gets a heavy work out

Im thinking it might have happened, by spilling red on the keyboard.
Things are getting so tight here, I have had to move down to the goon bag.
Mandurah looks like a ghost town at the moment.

 

[rnr]

@sptrawler
A suggested solution to the spillage problem.

 

[Belli]

Not sure where my comment fits so I'll put it here as it is tangential to some extent.

Had a call from a friend who is ***ting bricks from the sound of it. Issue is they went guarantor for their daughter and son-in-law's home loan and both of them are now out of work. Probably thought they were safe occupations originally as one was a commercial pilot and the other a pretty well paid sales manager.

Could only offer sympathies as I have not got any idea of what will occur. So much for the bank of Mum and Dad though. I have refused requests from one of my kids to be guarantor on the basis if the bank requires it then the risk is way up the curve and I'm not prepared to take on the bank's risk. Caused disharmony and extreme resentment but that's the way it is. Haven't heard from that one for quite some time unsurprisingly.

 

[sptrawler]

You are spot on IMO belli, only lend or underwrite to family, what you are prepared to lose.

 

[Dona Ferentes]

the difference a month makes

https://www.flightradar24.com

 

[banco]

A few days ago, the bloke over the road who wholesales furniture, said Hardly Normal had run out of freesers, don't know if it is local or more wide spread.
(don't mention the spelling of freeser, the bloody keyboard has just stuffed up). Shame it is a laptop.

It's everywhere. People are putting freezers and extra fridges in their living rooms.

 

[sptrawler]

It's everywhere. People are putting freezers and extra fridges in their living rooms.

People have lost the plot.