We have a perfect storm brewing in Australia. And this is just one in many things that will sink us.China, not the house price downturn, the major risk to Australia's economy, says Deloitte
https://www.abc.net.au/news/2019-01...ice-downturn-the-major-risk-deloitte/10750342
If they did that (money printing), with us being such a small economy, our $ would crash.There's also the role of the reserve bank - whether they cut rates or resort to printing money as previously alluded.
I think it would be worse if we went into recession or lost the AAA rating from horrendous debt.If they did that (money printing), with us being such a small economy, our $ would crash.
Which would bring on a whole new level of pain, imagine if our $ went to 40c/U.S, the Chinese would just come over and buy Sydney and Melbourne, then evict everyone.
Certainly interesting times IMO, I think it will come to a head, in the later half of this year.I think it would be worse if we went into recession or lost the AAA rating from horrendous debt.
Or both.
The number of significant businesses, and by that I mean things big enough to have a management structure and turnover valued in $ millions not just a few small jobs etc, is starting to become rather noticeable.We have a perfect storm brewing in Australia.
The number of significant businesses, and by that I mean things big enough to have a management structure and turnover valued in $ millions not just a few small jobs etc, is starting to become rather noticeable.
Most concerning, it's the same sort of businesses that hit the headlines last recession. Retailers and various businesses involved with construction.
I'm no permabear but one thing that comes to mind is that back in the 1990's and prior there was an awful lot of talk about "the need for Australia to be internationally competitive" usually expressed in those exact words. Looking at the past few years I don't think I've heard even one single mention of that concept from anyone in politics, it has been abandoned completely as a concept.
Another thing which I see may be of relevance is that our institutions are pretty much all at least somewhat discredited these days. Everything that was rock solid and beyond doubt, things like banks, universities, public utilities, the church, the federal government itself, are all somewhat degraded now in one way or another, they're not the unshakable pillars they once were. That's more a confidence thing than an outright economic one but I think it has some relevance.
The number of significant businesses, and by that I mean things big enough to have a management structure and turnover valued in $ millions not just a few small jobs etc, is starting to become rather noticeable.
Most concerning, it's the same sort of businesses that hit the headlines last recession. Retailers and various businesses involved with construction.
Everything that was rock solid and beyond doubt, things like banks, universities, public utilities, the church, the federal government itself, are all somewhat degraded now in one way or another, they're not the unshakable pillars they once were. That's more a confidence thing than an outright economic one but I think it has some relevance.
Yep, it looks like the only ones that are going to survive this, are the ones on welfare.
Cant be sacked, gauranteed income and the tax man cant hit them.lol
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