Australian (ASX) Stock Market Forum

The state of the economy at the street level

I used to live in Melb around 2009 for a few years, doesn't sound unusual compared to then?
There was always a few homeless here and there right in the city but never on south bank (in front of crown casino and restaurants) or as many as there is right in the cbd. Im not that frequent so being there every 1 or 2 months maybe I notice it more rather than if I was there everyday and used to it. Happy to be corrected by anybody who frequents Melbourne cbd more.

As for inner suburbs there is a few regular rough sleepers on the main street near where I live, this is something that started in the last 2-3 years never seen it before.

As for outer suburbs such as Dandenong which are right on the other end of the scale there is a massive number of homeless right in front of the shopping centre. Dandenong was always the bottom of the barrel but I think that bottom fell out now
 
There was always a few homeless here and there right in the city but never on south bank (in front of crown casino and restaurants) or as many as there is right in the cbd. Im not that frequent so being there every 1 or 2 months maybe I notice it more rather than if I was there everyday and used to it. Happy to be corrected by anybody who frequents Melbourne cbd more.

As for inner suburbs there is a few regular rough sleepers on the main street near where I live, this is something that started in the last 2-3 years never seen it before.

As for outer suburbs such as Dandenong which are right on the other end of the scale there is a massive number of homeless right in front of the shopping centre. Dandenong was always the bottom of the barrel but I think that bottom fell out now
Plenty of rough sleepers in CBD. They are on Northbank and on the pavements in the CBD and in little spots. We had a lot less when they got to stay in hotels due to Covid but that has ended now. Probably more help for them here though compared to Dandenong.
 
Hi ,saturday night at beautiful Bargara , most eateries pubs and taverns ,rsl ,absolutly packed .
Melbourne is packed at night but it's the daytime eateries and businesses relying on day trading that have closed.
I work opposite the State Government building and use there carpark and it is empty Mondays and Fridays.
 
Ok, yeh not that problem here or bundy ,biggest issue is getting workers , Quite often pubs put on local facebook that bistroes closed from lack of staff weeknights and quite a few cafes closed down as cant get staff ,sad really.
Good evening hopeing
Luv the rum :) and the soft drink too. Nice boost to the local economy ...

Kind regards
rcw
 
From this month, Jobseeker recipients aged over 22 without children will get an extra $25.70 a fortnight, taking their Jobseeker to $677 a fortnight, including the Energy Supplement

Single parents will get an extra $35.20 a fortnight, taking their Parenting Payment to $927.40 including the Energy Supplement.

For couples on Jobseeker or Parenting Payments, the rate will increase by $23.40 a fortnight to $616.60 including the Energy Supplement.

The maximum rate of pension will increase to $1,026.50 a fortnight for singles and $773.80 for each member of a pensioner couple or $1,547.60 per couple.
 
From this month, Jobseeker recipients aged over 22 without children will get an extra $25.70 a fortnight, taking their Jobseeker to $677 a fortnight, including the Energy Supplement

Single parents will get an extra $35.20 a fortnight, taking their Parenting Payment to $927.40 including the Energy Supplement.

For couples on Jobseeker or Parenting Payments, the rate will increase by $23.40 a fortnight to $616.60 including the Energy Supplement.

The maximum rate of pension will increase to $1,026.50 a fortnight for singles and $773.80 for each member of a pensioner couple or $1,547.60 per couple.
Would be nice to get that
 
Would be nice to get that
Yes, two single pensioners sharing a house would work well, my wife's aunt and her sister used to live together. $1,000/wk between them would take some doing through investment.
Definitely would take some serious number crunching, as to putting extra money into super, or the mortgage IMO.
 
This is an interesting one at street level, if the Government loses revenue, who do the union think will pay for the shortfall? Santa Clause. :roflmao:
I think this might hurt the union and isn't a well thought out ploy. :2twocents
There is a big difference between leaving a gate open and actively disabling an automatic ticket machine, this one could end up in court IMO.;)
The Opal reader machines on Sydney’s rail platforms will be completely turned off next week in the latest stage of an ongoing industrial dispute with the NSW government.
NSW Rail, Tram and Bus Union secretary Alex Claassens said the new measures were targeted at the state government’s coffers without affecting commuters.
“Obviously, we’re making sure that they’re going to be kept open and working the way we want them to work so people don’t have to pay,” Claassens said.

“We want to put pressure on the government and senior bureaucrats, not the travelling public. We’re escalating that particular action, and it will continue indefinitely until there is an agreement with the government.”

While the rail union last month left open Opal gates at most stations, the card readers on the machines were left on, which allowed people to pay their fares. The government last week said 90 per cent of commuters were continuing to tap on and off the network.
 
This is an interesting one at street level, if the Government loses revenue, who do the union think will pay for the shortfall? Santa Clause. :roflmao:
I think this might hurt the union and isn't a well thought out ploy. :2twocents
There is a big difference between leaving a gate open and actively disabling an automatic ticket machine, this one could end up in court IMO.;)
The Opal reader machines on Sydney’s rail platforms will be completely turned off next week in the latest stage of an ongoing industrial dispute with the NSW government.
NSW Rail, Tram and Bus Union secretary Alex Claassens said the new measures were targeted at the state government’s coffers without affecting commuters.
“Obviously, we’re making sure that they’re going to be kept open and working the way we want them to work so people don’t have to pay,” Claassens said.

“We want to put pressure on the government and senior bureaucrats, not the travelling public. We’re escalating that particular action, and it will continue indefinitely until there is an agreement with the government.”

While the rail union last month left open Opal gates at most stations, the card readers on the machines were left on, which allowed people to pay their fares. The government last week said 90 per cent of commuters were continuing to tap on and off the network.
You have to wonder who is advising the union these days? Blind Freddie could see that play would end badly, to actually publicly announce your illegal intentions kind of admits how little clue someone has.

https://www.smh.com.au/national/nsw...y-shut-down-opal-readers-20220915-p5bidz.html

The NSW government has warned unions it will pursue them through the courts and stand down staff if rail workers completely shut down Opal ticket readers at Sydney train stations next week as part of industrial action.
Transport Minister David Elliott said on Thursday that the government had received legal advice suggesting the new industrial action was illegal, and he issued a strong warning to the rail unions to drop their plans.
 
I just went to a very big suburban shopping centre here in Sydney 5-6PM to try and buy some new sneakers.

The place was PACKED and people were buying.

Staff could not find a single pair of leather Nike sneakers in the size I wanted, sold out. Same as online (which is why I went out in the first place).

This is despite Nike making a market release yesterday saying they have too much inventory and they are discounting to get rid of it (which crashed their stock price)...um...I'd buy a couple of pairs.

Definitely had the urge to buy stocks.
 
So Bunnings now has umbrella's again after not having them for somewhere over 6 months.
Price is now $12 each, before was $10, 20% increase.
But they had been $10 for somewhere over 10 years...

I see supply normalising in many areas, supermarket product also.

@moXJO would know better about building products.

I don't think there's an overall big issue with supply in general, they seem to be sorting themselves out, niche area's yes, still a problem.
 
According to The evil murdoch press food Inflation in OZ is at a decade high of 8%.
The rapid increase in food prices at the supermarket has accelerated to more than 8 per cent, reflecting decades-high inflation rates for both fresh and packaged foods.
The spike is adding extra pressure on household budgets already buckling under rising interest rates and cost of living pressures.

And the cost of basic foods would have been much higher if it wasn’t for Woolworths and Coles offering discounts and promotions at their stores.
There’s no relief in sight for skyrocketing grocery prices that are expected to remain elevated well into 2023.

A new report on the supermarket industry and food prices from investment bank UBS has revealed that food inflation for the first quarter of fiscal 2023 accelerated to 8.3 per cent at Woolworths and 8 per cent at Coles.

That was up sharply from food inflation of 5.6 per cent in the final quarter of 2022 for Woolworths and 5.5 per cent for Coles.
“Food inflation is expected to reach 8.7 per cent over the next 12 months,” warned UBS analyst Shaun Cousins.

“Generally this is as high as I have seen certainly in the last decade, this is the highest rate of inflation that Australian consumers would have seen for many years.”
The forecast is like most other expert forecasts, guesswork.
Mick
 
So Bunnings now has umbrella's again after not having them for somewhere over 6 months.
Price is now $12 each, before was $10, 20% increase.
But they had been $10 for somewhere over 10 years...

I see supply normalising in many areas, supermarket product also.

@moXJO would know better about building products.

I don't think there's an overall big issue with supply in general, they seem to be sorting themselves out, niche area's yes, still a problem.
Supply coming back now. Silicone back to about $2.95 a tube (trade suppliers) after a tripling over covid.

As expected interest rates biting in certain areas and probably an overstock of a lot of things.

Still some gaps with consumer electronics and some electrical components.

Wollies discounting a bit more just from a "eyeballing" metric.

Terrible service and employees on way above what they should be getting in wages. This is the very fine dance line for the rba. Pump rates to hard and it falls down in a screaming mess.

I think mindsets on spending are beginning to change a bit now. High wages are the main problem I'd think for the rba.
Can all turn on a dime at the moment though.
 
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