The state of the economy at the street level

[divs4ever]

It's been interesting that the "conspiracy theorists" have been warning of a campaign to get rid of the middle class for several years now.

...and then, an Adecco like this comes out on mainstream news. Is yet another conspiracy theory coming true?

https://www.news.com.au/finance/economy/australian-economy/australia-should-prepare-for-the-death-of-the-middle-class-experts-warn/news-story/cfdb521814fef5a1b6c686cd4c3a1f0e

but the death of the middle class ( normally ) brings down the entire civilization

the middle-class become 'the meat in the sandwich ' or the glue that keeps a social structure working

but maybe this time it's different

( the middle-class understand the system's workings ,pushing them into the disgruntled masses , gives them strategists and planners )

 

[qldfrog]

And we kind of forget the fact that taxes are getting higher and higher..
If you let a socialist globalist WEF takes over, we will all end up nation less on UI, poor , owning nothing, using uber EVs, and eating tofu and crickets for the benefit of the ultra elite.
If people still vote labour and do not want to open their eyes on the EU precedents, we get what we deserve...
Not that the tradition dual party right is any different, just slightly slower in the target.
But let's blame it on housing CGT, negative gearing and IP...LOL

 

[TimeISmoney]

And we kind of forget the fact that taxes are getting higher and higher..
If you let a socialist globalist WEF takes over, we will all end up nation less on UI, poor , owning nothing, using uber EVs, and eating tofu and crickets for the benefit of the ultra elite.
If people still vote labour and do not want to open their eyes on the EU precedents, we get what we deserve...
Not that the tradition dual party right is any different, just slightly slower in the target.
But let's blame it on housing CGT, negative gearing and IP...LOL

What gets me the most is that they thought investors would become a charity overnight.

Hello, you put taxes up and force a higher risk on investments with poor rental reform laws and of course, they're going to pass the cost onto renters.

 

[sptrawler]

but the death of the middle class ( normally ) brings down the entire civilization

the middle-class become 'the meat in the sandwich ' or the glue that keeps a social structure working

but maybe this time it's different

( the middle-class understand the system's workings ,pushing them into the disgruntled masses , gives them strategists and planners )

Usually the middle class are those that have worked up the food chain, when that effort is stripped down, there is a disenfranchised workforce.

 

[farmerge]

Usually the middle class are those that have worked up the food chain, when that effort is stripped down, there is a disenfranchised workforce.

Perhaps the greatly taxed Middle Class will unfortunately one day join the forever growing queue of the unwashed.

 

[divs4ever]

Perhaps the greatly taxed Middle Class will unfortunately one day join the forever growing queue of the unwashed.

history suggests they might join the 'unwashed' but they add information to the 'unhappy ' , so 'forever' may only last decades rather than centuries

 

[farmerge]

history suggests they might join the 'unwashed' but they add information to the 'unhappy ' , so 'forever' may only last decades rather than centuries

Not a happy scenario though.

 

[divs4ever]

Not a happy scenario though.

well history suggests that is the cycle , maybe it will be different this time , but history has a habit of rhyming

 

[joeno]

If we're talking economy - bad. I'm in Europe now and it's even more terrible. It's just year after year of inflation (property and consumer) with little growth in salaries.

If we're talking equity markets - booming, in the US at least.

It's times like this (and honestly it's been many many years) one wonders why all the amazing innovations in the last few decades haven't really worked it's way into the middle class pocket.

 

[sptrawler]

Interesting article on drug preferences across Australia.

Which Australian city consumes the most cocaine? A new report exposes the country's drug habits

The Australian Criminal Intelligence Commission's latest wastewater drug use report sheds light on how the illicit drug market varies across the country.

www.abc.net.au

 

[divs4ever]

Interesting article on drug preferences across Australia.

Which Australian city consumes the most cocaine? A new report exposes the country's drug habits

The Australian Criminal Intelligence Commission's latest wastewater drug use report sheds light on how the illicit drug market varies across the country.

www.abc.net.au

.... so heroin and not another closely related prescription opiate ??

some rural areas do not have town water ( let alone a sewerage system ) so there is a bias there

but interesting to see how privacy is being invaded at every opportunity

 

[moXJO]

Shops like grocery stores full of customers lately.
Bunnings has been pretty solid.
Restaurant has been taking in some big numbers.

It seems to be heating up in some areas.

 

[farmerge]

Shops like grocery stores full of customers lately.
Bunnings has been pretty solid.
Restaurant has been taking in some big numbers.

It seems to be heating up in some areas.

I had a need to go to Office Works and Bunnings in Midland this afternoon.
Though both outlets weren't chockers with people, I had to queue for about 5-6 minutes to pay for my purchases.
I refuse to use self check outs.
They were only partially being used and the 2 physical check outs at Bunnings was where the queue was.
Office Works had 3 checkouts open and the wait was only a couple of minutes.

 

[mullokintyre]

I bought a new Sports Jacket on Saturday.
Mick

 

[qldfrog]

I bought a new Sports Jacket on Saturday.
Mick

And we had high tea as a family Saturday: eating for the country
Joke aside, people are moving around but not sure if they are spending much .did not seem to last week on the Thursday night shopping at Sunshine plaza (sunny coast)

 

[farmerge]

I bought a new Sports Jacket on Saturday.
Mick

Is that to go with the Sports car Mick?

 

[farmerge]

And we had high tea as a family Saturday: eating for the country
Joke aside, people are moving around but not sure if they are spending much .did not seem to last week on the Thursday night shopping at Sunshine plaza (sunny coast)

Mr Frog Not too sure about people not spending. The shops seem to have plenty of people in and around, or perhaps it's that I jag the time when their are at their busiest.

 

[JohnDe]

Mixed messages. The Adelaide Fringe attendance broke records, weekend house inspections and sales did not slow.

Australian Grand Prix to sell out and set revenue record

Fuelled by interest generated by Netflix’s Drive to Survive, the Melbourne race is expected to smash the $100m revenue barrier.


Watch out, retrenchments to rise amid rising costs

Middle managers beware. Retrenchments are coming. Corporate Australia is battening down the hatches because of spiralling operating costs, which it now fears it will not be able to fully pass on.


Support for changes to negative gearing

Most Australians are open to winding back tax handouts for property investors, with less than a quarter supporting the status quo, according to a new poll commissioned by Everybody’s Home.

 

[divs4ever]

Support for changes to negative gearing

Most Australians are open to winding back tax handouts for property investors, with less than a quarter supporting the status quo, according to a new poll commissioned by Everybody’s Home.

wait until investors decline to invest in that area , i know two landlords already reducing their portfolios due to increased regulation/compliance costs , i assume one negative gears ( a former accounting chain owner ) and not sure on the other

 

[Chipp]

wait until investors decline to invest in that area , i know two landlords already reducing their portfolios due to increased regulation/compliance costs , i assume one negative gears ( a former accounting chain owner ) and not sure on the other

The spread between yields and interest rates would be scaring of many who have a grasp of maths . I think property as a whole is due for a decade long stagnation like the 90's . When it becomes obvious capital gains above interest rates is not very likely the rush to the door will get busier . Not many seem aware the 40 yr downtrend in US bond yields ( and most everywhere else) has now broken to the upside . i fear a 70s type scenario is potentially upon us . If ever there was a time for property permabears to be right for an extended time , it's soon in my eyes . Fwiw i will be selling into what i see as a longterm high in property appreciation . We live in interesting time

Edit , purely guessing here as have no hard data in front of me ( i will look for it ) but i'd suggest negative gearing has never been so negative and to make that work you need to be paying a **** tonne of tax in the top bracket . Not a position for many ' investors "