Australian (ASX) Stock Market Forum

The state of the economy at the street level

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JohnDe said:
Realestate in my extended area is selling like hotcakes, and at ridiculously high prices that seem to keep increasing. I don’t know if it’s something that will continue because of investment dollars from immigration and overseas investors, or the edge of the cliff when madness takes over from rational thought.
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There is a lot of money being bandied around in my area lately.
Housing and properties don't seem to be listed for very long periods before the Under Offer sign is stuck on.
On another level, I have never had so much contract work coming my way as this year.
Got the OK for two very large fencing jobs this afternnon worth amny thousands of dollars..
Seems to me that some people either have a money tree growing in their yard or have unlimited amouts via some hidden gold resource.
 
I was in Frankfurt and they dont appear to be doing well. Lots of empty office buildings according to my taxi driver who used to have a good job. The city which resembles Melbourne in many ways was looking very quiet.

Very little building activity. The hotel I stayed in appeared to have hardly any people staying at it. (Moxy).

Singapore also wasn't as gleaming as much as last time, though way better. Even Paris appeared quiet.

The Moselle region was pumping but they had their festival (which was great to see). I spoke to a winery owner whose family has been there 600 years and they are doing it tough. Some farmers are letting fields on the steep hill go fallow as they are having difficulty getting cheap labour from Romania and similar countries for the picking and increased competitive pressures from the world etc.
 
Tyler Durden said:
I don't catch taxis often, but when I do, I like to have a chat with the driver and get his/her views on the state of the economy. It can be quite an interesting chat.

I also like to walk a lot, and perhaps it's due to my 'bear-ish' nature, but I have noticed a lot of shops closing down on the streets I walk on. Some of these have been in existence for quite a while (like 5+ years) and some seem short lived.

More recently, I have noticed some friends within my circle to be losing their job or struggling with their career stability. It almost feels like the grim reaper of redundancy is circling me like a shark.

So from my own personal, and microscopic experience, the state of the economy appears to be somewhat gloomy, or at the very least, cautious.

I'm interested in the views of others on their own personal/street level/coal face level on how they feel the economy is going or will be going. Please feel free to share :)
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yes I hear a lot of gloomy news and I have seen a few shops closed down it seems that we are going towards recession😔
 
There is a glut of wine in OZ.
Monichino's, one of the big wineries in our region is closing down.
Its a family owned business been going for nigh on 70 years, but the third and fourth generation were reluctant to put in the hours required to look after the vines, much less run the cellar door and restaurant.
They could not sell much of their wine, no body wanted to buy the business, so they are having a clearing sale auction.
Our local Mens Shed picks, de stems crushes and bottles grapes that make reasonable wines.
They will be keenly looking at some of the specialist equipment for sale.
Mick
 
mullokintyre said:
There is a glut of wine in OZ.
Monichino's, one of the big wineries in our region is closing down.
Its a family owned business been going for nigh on 70 years, but the third and fourth generation were reluctant to put in the hours required to look after the vines, much less run the cellar door and restaurant.
They could not sell much of their wine, no body wanted to buy the business, so they are having a clearing sale auction.
Our local Mens Shed picks, de stems crushes and bottles grapes that make reasonable wines.
They will be keenly looking at some of the specialist equipment for sale.
Mick
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@mick It's the old story. The first generation starts the business, the seconds grows it and the mob after that as a rule loses it.
 
wayneL said:
Yeah the old Feral. Renamed as the Baskerville Tavern these days... Interestingly it was restarted by one of the original Feral owners, after Coca Cola ran it into the ground.
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The only trouble with it is the location on such a busy road. I've had a couple of near misses out th front when carting to Muchea.
 
farmerge said:
The only trouble with it is the location on such a busy road. I've had a couple of near misses out th front when carting to Muchea.
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Yeah, Campersic/Haddrill can be like The Cannonball Run sometimes. We're near the creek so more quiet and leafy... Even closer to Lamont's if we want to go high brow.
 
farmerge said:
There is a lot of money being bandied around in my area lately.
Housing and properties don't seem to be listed for very long periods before the Under Offer sign is stuck on.
On another level, I have never had so much contract work coming my way as this year.
Got the OK for two very large fencing jobs this afternnon worth amny thousands of dollars..
Seems to me that some people either have a money tree growing in their yard or have unlimited amouts via some hidden gold resource.
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well if you have the skills and the stamina , you are a real gem in the current scenario

that 'money-tree' might be bank deposits being drained strategically , remember there is in theory still bank 'bail-in' strategies in place
 
divs4ever said:
well if you have the skills and the stamina , you are a real gem in the current scenario

that 'money-tree' might be bank deposits being drained strategically , remember there is in theory still bank 'bail-in' strategies in place
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Not to sure what it is but of recent times I am winning every quote I submit.
Upped the rate and still everyone is happy and wanting to put that necessary 50% into my bank account as of now.
We can't believe it. In past years payments to us could drag on and on.
 
frugal.rock said:
Found this interesting at street level

www.shortman.com.au

ShortMan - Biggest movers

The biggest short position movers on the ASX over the last week, and the last month
www.shortman.com.au www.shortman.com.au
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indeed it is i see some moving in an unlikely direction , do they ( the shorters ) suspect a rally or is there little blood left to suck on those shares

PS i don't see MIN slumping to a level i will tempted to add to my holding
 
greggles said:
Interesting. A lot of people are betting that the PLS share price will decline with more than 10% of its shares short sold.
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Sold the remainder of my PLS holding today. have a 50/50 need to be cashed up at the moment.
First time in many years that I do not have any shares in the portfolio.
Apart from the lemon of lemons HIL .
Only kept it in the watchlist as a reminder of what was to what is now.
 
moXJO said:
All the farmers apparently shooting their cattle up my brothers way. Not getting enough money for them or something?
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could be transport costs v. price for the beast ( at the saleyards )

although one of the 3 auctions i went to this month the offerings were very gaunt , so maybe feed costs are a factor
 

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