NDIS has been a cash surge in some gyms, I think we will be seeing a few stories of gross exploitation of NDIS funding coming thru the media in Australia's near future.
NDIS has been a cash surge in some gyms, I think we will be seeing a few stories of gross exploitation of NDIS funding coming thru the media in Australia's near future.
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Been going on for years
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i notice the local gym has clients who are probably NDIS recipients , that has not been a totally bad thing as such clients allowed then to continue business despite restrictions in other nearby businesses
gross exploitation , that is just human nature ( for some ) just as is ineffective supervision of such schemes , and of course when news is slow ( and a real journalist is still employed )
Garpal Gumnut
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I have never been to a gym.
From the media it would appear that they are good meeting places for criminals and drug dealers to stay fit in between spells in the big house.
Inflation will not affect that demographic by the way.
gg
From the media it would appear that they are good meeting places for criminals and drug dealers to stay fit in between spells in the big house.
Inflation will not affect that demographic by the way.
gg
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not so apparent at the local gym , lots of walking frames and wheelchairs ( but maybe they are the mules ) some folks trying to lose the 'pear' in their shape , but maybe the folks you are talking about show up early in the morning or after mid-day
maybe if times get tougher , there will be some prescription medication trading , the crowd there ( including me ) are on some fairly exotic meds
maybe if times get tougher , there will be some prescription medication trading , the crowd there ( including me ) are on some fairly exotic meds
Garpal Gumnut
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One of the better articles that I have read on inflation, government, the mob ( us ) and money is by Theodore Dalrymple a link to which I leave below. It is from Taki's Magazine a rightist rag with some surprisingly sensible articles at times, particularly from TD.
He quotes Dickens via Mr.Micawber on personal expenditure. This was before Centrelink. Yes. Such a time existed.
For those unfamiliar with pounds, shillings and pence, there were 20 shillings to a pound and 12 pence to a shilling. (and btw for info only 21 shillings to a guinea)
sense-on-the-dollar
gg
He quotes Dickens via Mr.Micawber on personal expenditure. This was before Centrelink. Yes. Such a time existed.
For those unfamiliar with pounds, shillings and pence, there were 20 shillings to a pound and 12 pence to a shilling. (and btw for info only 21 shillings to a guinea)
sense-on-the-dollar
gg
JohnDe
La dolce vita
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^^^ 12:30 min - Retail Sales & Inflation
^^^ 17:30 min - Inventories
If the USA sneezes, Australia catches a cold. Still true today.
The changing American consumer
Could a shift from goods to services ease inflation?
Asked recently about Amazon’s sprawling network of warehouses Brian Olsavsky, the firm’s finance chief, did not mince words. “We have too much space right now.” Faced with a surge in demand during the pandemic, the online retailer doubled its capacity from 193m square feet (18m square metres) at the end of 2019 to 387m square feet two years later. Today it has a glut, which the company says is costing it tens of millions of dollars a day.
Retailers are bracing themselves for a slowdown, or even a recession, as the Federal Reserve raises interest rates. But Amazon’s troubles reflect another crucial factor for the American economy: a shift in spending from goods back to services which could lower inflation, making the Fed’s job easier.
Target, another retailer, reported a 52% drop in net income in the three months to April, compared with the previous year, which it blamed in part on a rapid slowdown in demand for appliances, furniture and televisions. “We [expected] the consumer to continue refocusing their spending away from goods and into services,” Brian Cornell, the firm’s boss, said, but “we didn’t anticipate the magnitude of that shift.” Overall, the switch should ease pressure on global supply chains and lower inflation. But it has been slow and uneven.
Confined to their homes during the worst of the pandemic, Americans splurged on appliances, cars and furniture. Fiscal largesse, including three rounds of “stimmy” cheques, helped fuel the buying binge. People bought substitutes for the services they could no longer avail themselves of—an exercise bike, say, to make up for closed gyms. Perhaps as a result of having a little extra cash, they also treated themselves to things like watches and luxury products. A year into the pandemic the composition of consumer spending had changed dramatically. By spring 2021, goods accounted for 42% of household spending, up from 36% before the pandemic; services accounted for 58%, down from 64%, a drop worth more than $900bn per year.
Several other Western countries experienced a similar rise in goods consumption, though few witnessed a bigger boost than America. Daan Struyven and Dan Milo of Goldman Sachs, a bank, compare the evolution of real goods spending across 23 oecd countries and find that only Chile and Norway outperformed America. In Japan, goods purchases in the last three months of 2021 were 7% below pre-pandemic trends.
America’s spending spree helped lift the economy out of recession, but it also contributed to an inflation headache. The deluge of new orders overwhelmed global supply chains, which were already suffering from pandemic-related disruptions, leading to clogged ports and shipping delays. With demand outstripping supply, goods prices rose. The Bureau of Labour Statistics reckons that goods prices boosted consumer-price inflation by 4.9 percentage points in the year to April 2022, having reduced it by 0.1 points in the 12 months before the pandemic.
Now spending is starting to shift in the other direction. Data published on May 27th by the Bureau of Economic Analysis show that spending on goods fell in the year to April, and is now 9% above its pre-pandemic trend, down from a high of 16% last year. Spending on services is up by 7% in the same period, and is just 3% below pre-pandemic trends. But some services have been quicker to recover than others. Messrs Struyven and Milo of Goldman Sachs note that while “fun” spending categories with pent-up demand such as food services, air travel and hotels have rebounded over the past year, others have lagged behind. Services that cater to white-collar professionals have also been slow to recover. Mass transit spending is about 50% down from what it would have been, absent the pandemic; laundry and dry-cleaning revenues are 20% below trend.
Even some essential services have been slow to bounce back. Spending on doctors’ and dentists’ services is roughly 15% below the pre-pandemic trend; child care is down by 22%. Appetite for many non-essential goods, meanwhile, shows little sign of abating. Spending on jewellery and recreational vehicles are 53% and 43% above trend, respectively. Spending on pets is up by 23%.
One question is whether the composition of consumer spending will return to pre-pandemic norms. The hope is that this eases supply-chain bottlenecks and helps bring down inflation. Yet several uncertainties lie ahead. The process looks likely to be slow. Although Target was wrong-footed by the force of the shift towards services, if recent trends continue, goods and services spending would only return to pre-pandemic levels by perhaps the third quarter of next year. And some habits could well stick: the rise of remote work, say, may have permanently changed the consumption mix, keeping the relative demand for goods higher than it was before the pandemic.
Hovering over all this, though, is a potentially souring economic environment. Consumer-price inflation is outpacing wage growth, and households are getting gloomier about their personal finances. American consumers powered an extraordinary goods boom over the past couple of years. What they do next is much less certain.
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Germany has joined the queue of nation states that are experiencing runaway inflation.
From Zero Hedge
From Zero Hedge
MickGerman inflation hit another post-World-War-II record high, piling pressure on The ECB's need to exit from crisis-era stimulus after numbers from Spain also printed hotter than expected.
Driven by soaring energy and food costs, this morning's data showed consumer prices in Europe's largest economy surged 8.7% YoY - far hotter than the +8.1% expected (thge highest since the start of the monthly statistics in 1963).
As Bloomberg reports, the report comes just 10 days before a crucial ECB meeting where officials are set to announce the conclusion of large-scale asset purchases and confirm plans to raise interest rates in July for the first time in more than a decade.
“Inflation is an enormous economic risk,” German Finance Minister Christian Lindner told a news conference in Berlin.
“We must fight it so that no economic crisis results and a spiral takes hold in which inflation feeds off itself.”
over9k
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Precisely. It's not an overheating of demand problem!
over9k
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15 year gym rat here:
After rent (which any business will pay unless it owns the floorspace), it's air conditioning. Gyms have virtually no ongoing expenses other than the cleaning crew that run the vacuum cleaners through the place each day. Dependent on the climate obviously, gyms are actually very energy intensive. It takes a lot of power to cool dozens of people exercising flat out. I've spotted a couple of ENORMOUS solar panel arrays lately that I'll try to get a picture of sometime to show you what I mean.
If you think of a gym like a giant cool room/cold storage but with hundreds of (large amounts of) heat producing bodies passing through it each day you can obviously pretty quickly start to understand how they actually work.
As I keep pointing out, if energy goes up then the more energy intensive something is the more it's going to go up too. I've locked my gym membership fees in
Hence why, say, wheat is at record highs but rice has barely moved.
JohnDe
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15 year gym rat here:
After rent (which any business will pay unless it owns the floorspace), it's air conditioning. Gyms have virtually no ongoing expenses other than the cleaning crew that run the vacuum cleaners through the place each day. Dependent on the climate obviously, gyms are actually very energy intensive. It takes a lot of power to cool dozens of people exercising flat out. I've spotted a couple of ENORMOUS solar panel arrays lately that I'll try to get a picture of sometime to show you what I mean.
If you think of a gym like a giant cool room/cold storage but with hundreds of (large amounts of) heat producing bodies passing through it each day you can obviously pretty quickly start to understand how they actually work.
As I keep pointing out, if energy goes up then the more energy intensive something is the more it's going to go up too. I've locked my gym membership fees in
Hence why, say, wheat is at record highs but rice has barely moved.
They should put generators on the treadmills and cycles, and then hook it all up to the grid
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regarding rice , SO FAR , can see the potential for rice consumption to increase ( but not to rocket-ship proportions )15 year gym rat here:
After rent (which any business will pay unless it owns the floorspace), it's air conditioning. Gyms have virtually no ongoing expenses other than the cleaning crew that run the vacuum cleaners through the place each day. Dependent on the climate obviously, gyms are actually very energy intensive. It takes a lot of power to cool dozens of people exercising flat out. I've spotted a couple of ENORMOUS solar panel arrays lately that I'll try to get a picture of sometime to show you what I mean.
If you think of a gym like a giant cool room/cold storage but with hundreds of (large amounts of) heat producing bodies passing through it each day you can obviously pretty quickly start to understand how they actually work.
As I keep pointing out, if energy goes up then the more energy intensive something is the more it's going to go up too. I've locked my gym membership fees in
Hence why, say, wheat is at record highs but rice has barely moved.
rice tends to store better , so would expect stackers ( like me ) to have a few months supply ( in the pantry )
gyms , during the recent virus thingy , i notice the local gym has a 'hygienist ' ( or whatever her job title is ) comes by maybe two-hourly , to 'wipe ' ( i am guessing an alcohol-based solution ) on the machines frequently used ( probably wise considering the number of 'rehab' members that i see ) , also i note certain machines appear to need increased maintenance/repairs ( the treadmills and rowing machines , principally )
over9k
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As I said a few pages back, it's a "not yet":
Hungary and poland are holding it up. Russia's responding with gas and grain.
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According to Choice, in addition to inflation, we also have shrinkflation as well
All points to things getting more expensive
www.choice.com.au
All points to things getting more expensive
The groceries shrinking and getting more expensive in 2022 | CHOICE
Want to know which grocery items are getting smaller and costing you more? Find out with our latest ‘shrinkflation’ wrap-up
www.choice.com.au
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'shrinkflation' observed as early as November last year , so i reduced my 'stock-piling' of those lines ( the shrinking , ones ) by April those lines were no longer stocked at the local super-marketAccording to Choice, in addition to inflation, we also have shrinkflation as well
All points to things getting more expensive
The groceries shrinking and getting more expensive in 2022 | CHOICE
Want to know which grocery items are getting smaller and costing you more? Find out with our latest ‘shrinkflation’ wrap-up
but this is nothing new to those that grew up in the 1970's
over9k
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Yes, they do this with the data too: Change the stuff in the "basket of goods" to cheaper/crappier/etc stuff because "Once it gets too expensive people just won't buy it any more".According to Choice, in addition to inflation, we also have shrinkflation as well
All points to things getting more expensive
The groceries shrinking and getting more expensive in 2022 | CHOICE
Want to know which grocery items are getting smaller and costing you more? Find out with our latest ‘shrinkflation’ wrap-up
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From Todays Australian
The big jump in export value may be due more to inflationary increases in the cost of goods rather than an increase in volume.
Mick
So the cits and the govt are still out there spending., but not as much as they were earlier.
The big jump in export value may be due more to inflationary increases in the cost of goods rather than an increase in volume.
Mick
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As @Smurf1976 has been explaining for a while, but there is a way out.
One part i do not understand is the statement that if recession hits us,the AUD would go to the moon?
One part i do not understand is the statement that if recession hits us,the AUD would go to the moon?
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newscomau usually copy and paste their articles and/or splice a few chunks into 1 article without proof reading it so they probably forgot to replace aud with inflation.
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| Wednesday, Jun 1, 2022 |
| Dear Stockhouse Member, |
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