The state of the economy at the street level

[Captain_Chaza]

Funny you should say that, I noticed this exact thing today.

Car park at the local shops was just about full.

Walking around the supermarket it wasn't empty but it sure wasn't busy and nor did the other shops look to be overly busy.

I don't know for sure but looking at that and noting staffing issues, my guess is that management have done away with any rules they might previously have had about staff parking in the customers' car park and so what you're seeing is a car for every employee.

But Smurf (born in 1976)
Don't confuse The Economy with The Share Market
That's like Comparing Apples with Oranges
They are very different!

 

[wayneL]

I'm too 'tap happy' with my card. At least with cash I know how much I've spent or the maximum I will spend.

And I've (re)started paying cash at 'point of purchase'. Which surprises a few people.

I pay cash as much as possible. Like Mo I can be a bit tap happy with the card, but it's also a bit of a principle thing with me too.

The old use it or lose it.

Additionally, anywhere that refuses to take cash, loses me forever.

 

[Dona Ferentes]

Additionally, anywhere that refuses to take cash, loses me forever.

an admirable principle. Which also applies to those that will accept cash, and cash alone.

My pet grieve is the hidden 'charges apply' nonsense. Legally it must be disclosed, but subterfuge is often employed. Every transaction has a cost. Holding cash, handling cash comes at no cost? (yes I know about Merchant fees.)

 

[JohnDe]

an admirable principle. Which also applies to those that will accept cash, and cash alone.

My pet grieve is the hidden 'charges apply' nonsense. Legally it must be disclosed, but subterfuge is often employed. Every transaction has a cost. Holding cash, handling cash comes at no cost? (yes I know about Merchant fees.)

Merchant and bank fees, why is it that those fees are applied to debit and credit cards?

Why do banks take 24 hours to transfer money?

Users are now accustomed to paying with a card and accepting the hidden fee (most businesses find it easier to just add the cost into the service). Just like most of the BNPL mob, the user thinks that they get something for free, they don't realise the supplier of goods and service pays a fee for them to BNPL. A added cost that must be paid down the line somewhere.

All these small fees and user charges keep piling up and get added to product or service that the consumer buys, and most don't even know.

 

[Belli]

Easy to get a park at local high street, today (I usually walk)

And I've (re)started paying cash at 'point of purchase'. Which surprises a few people.

Good to know I am not alone in using actual cash as opposed to waving a bit of plastic around.

 

[macca]

I pay cash as much as possible. Like Mo I can be a bit tap happy with the card, but it's also a bit of a principle thing with me too.

The old use it or lose it.

Additionally, anywhere that refuses to take cash, loses me forever.

If everyone starts to use cards all the time it would not be long before Govts ceased to create Cash as it is quite expensive to produce in a safe way.

If we go Ecash what happens when the sun don't shine and the wind don't blow, a local blackout makes it very plain that no power in Todays world, means no food or fuel as the shops cannot operate their tills.

It also would mean that any Govt could freeze all of someones assets for any reason.

It could mean that anyone who has not had the latest cocktail of unproven drugs for the latest lab created bug injected into their arm cannot buy food.

 

[againsthegrain]

If everyone starts to use cards all the time it would not be long before Govts ceased to create Cash as it is quite expensive to produce in a safe way.

If we go Ecash what happens when the sun don't shine and the wind don't blow, a local blackout makes it very plain that no power in Todays world, means no food or fuel as the shops cannot operate their tills.

It also would mean that any Govt could freeze all of someones assets for any reason.

It could mean that anyone who has not had the latest cocktail of unproven drugs for the latest lab created bug injected into their arm cannot buy food.

What happens when you go for a holiday or even out of town for a few days and your card gets skimmed and you have to cancel it, no local branch and/or replacement in mail

 

[Belli]

What happens when you go for a holiday or even out of town for a few days and your card gets skimmed and you have to cancel it, no local branch and/or replacement in mail

When I travel, which I will do in the not too distant future, I take two debit cards loaded with the necessary funds just in case one is blocked or lost plus carry some cash to the level it allows for maybe a tank of petrol, some food and cheapo overnight accommodation - although I will sleep in the car if push comes to shove. Depends too where the travel is involved say Canberra - Melbourne and for how long.

Those debit cards are only liked to my main account to the extent I can transfer funds between them. Essentially leave little on those cards on return. Pay for a coffee, sandwich and parking sort of amounts.

Don't have any of those fancy do da payway apps on my phone. Simply not my thing.

I have had a card blocked by a bank when I used it in Canberra in the morning and then in Melbourne late at night. Rang its 24/7 line and it was fixed.

 

[qldfrog]

When I travel, which I will do in the not too distant future, I take two debit cards loaded with the necessary funds just in case one is blocked or lost plus carry some cash to the level it allows for maybe a tank of petrol, some food and cheapo overnight accommodation - although I will sleep in the car if push comes to shove. Depends too where the travel is involved say Canberra - Melbourne and for how long.

Those debit cards are only liked to my main account to the extent I can transfer funds between them. Essentially leave little on those cards on return. Pay for a coffee, sandwich and parking sort of amounts.

Don't have any of those fancy do da payway apps on my phone. Simply not my thing.

I have had a card blocked by a bank when I used it in Canberra in the morning and then in Melbourne late at night. Rang its 24/7 line and it was fixed.

These issues take a different dimension if your aussie card gets swallowed/stolen O/S while in transit or on the move..and bad luck if it is on a friday?
Travellers cheques were once a solution but are no more, so carry 5k in notes on you in Paris metro, or the Marrakech souk...or..better have heaps of cards from different providers split among the travelling group, and internet access to increase balances

 

[Dona Ferentes]

another property developer collapse

Melbourne developer Caydon Property Group, whose projects include the redevelopment of the Nyles site, has collapsed. Secured assets now under the control of receivers includes completed residential and commercial property, sites under development and land holdings.

Two Caydon projects under construction, HOME in Alphington and Due North in Preston, were not impacted by the appointments and remain fully funded to continue through to completion and settlement, the receivers said.

Caydon blamed the “prolonged COVID-19 lockdowns in Melbourne, accelerating construction cost pressures, supply chain interruptions, and interest rate pressures coupled with a negative house price sentiment” on its decision to appoint a liquidator.

 

[JohnDe]

another property developer collapse

Melbourne developer Caydon Property Group, whose projects include the redevelopment of the Nyles site, has collapsed. Secured assets now under the control of receivers includes completed residential and commercial property, sites under development and land holdings.

Two Caydon projects under construction, HOME in Alphington and Due North in Preston, were not impacted by the appointments and remain fully funded to continue through to completion and settlement, the receivers said.

The business collapses, while the directors clear the slate and come back under a new entity.

 

[SirRumpole]

Australians should work for $2 a day says Australia's richest woman.

Rinehart issues labour warning to Aussies

Gina Rinehart uses a rare video appearance to say Australians need to work harder to compete with Africans who labour for less than $2 a day.

www.abc.net.au

 

[Smurf1976]

a local blackout makes it very plain that no power in Todays world, means no food or fuel as the shops cannot operate their tills.

Cash doesn’t fix that.

Power off = prety much all businesses close and won’t accept any payment including cash. Many simply can’t process a sale.

 

[JohnDe]

Australians should work for $2 a day says Australia's richest woman.

Rinehart issues labour warning to Aussies

Gina Rinehart uses a rare video appearance to say Australians need to work harder to compete with Africans who labour for less than $2 a day.

www.abc.net.au

10 years ago

Wednesday 5 Sep 2012 at 9:37am, updated Wed 5 Sep 2012 at 2:26pm

 

[SirRumpole]

10 years ago

Wednesday 5 Sep 2012 at 9:37am, updated Wed 5 Sep 2012 at 2:26pm

Well spotted, I didn't.

 

[macca]

Cash doesn’t fix that.

Power off = prety much all businesses close and won’t accept any payment including cash. Many simply can’t process a sale.

For majors you are right but I suspect that quite few owner operators would be writing receipts by hand for payments in cash if the power kept failing during a spell of wet weather

 

[moXJO]

Woolies seemed to have a lot of stuff with half price sales.
Been a while since I've seen certain products together like that.

Rates possibly impacting sales

 

[redsmartie]

Woolies seemed to have a lot of stuff with half price sales.
Been a while since I've seen certain products together like that.

Rates possibly impacting sales

Same here, I went to a Woolies further away from my normal shop just after the midday inflation news. Place was emptyish with the few people scouring the shelves for specials. I saved 12% and another 1% saved on the rewards card.

Clearing old stock?

 

[divs4ever]

For majors you are right but I suspect that quite few owner operators would be writing receipts by hand for payments in cash if the power kept failing during a spell of wet weather

LOL

things must have changed in ( small ) retail world some small shops LOVED cash ( especially if no receipts were required )

one tax audit team had to guess the revenue based on plastic bag consumption

 

[frugal.rock]

Australians should work for $2 a day says Australia's richest woman.

So about $3 a day now then eh?

I reckon Australia's richest woman likes slave labour...