So_Cynical
The Contrarian Averager
- Joined
- 31 August 2007
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Sydney city was packed tonight for Vivid, never seen so many people in town out side of NY's or some similar event, standing room only on the train home at 10.30...no visible signs of financial distress at street level tonight.
Sydney city was packed tonight for Vivid, never seen so many people in town out side of NY's or some similar event, standing room only on the train home at 10.30...no visible signs of financial distress at street level tonight.
A significant business collapse today, electrical contractor PSG has gone bust and ceased operations immediately.
About 600 employees nationally, largely electricians and associated workers plus administration.
Vic - 200 workers. Tas - 200 workers. SA - about 100. Qld - about 100.
So not looking good there it seems. Also in the news, a smallish bus manufacturing company in SA has gone bust - roughly 50 jobs gone I think.
From the looks of it roughly 800,000 Australians headed off overseas in April. I know it's probably a bit dated since it's before the no surprises budget, but if roughly 3% of the population can have an overseas holiday in just one month, things can't be that bad
Known by many economists as the “wealthy poor” – a growing class of Australians is emerging.
This is a group of educated, well-earning people, in their late 20s with no children who are yet to break the over-priced Australian property market. They earn around or just above the national average wage of $77,800 a year. But like many others, this new breed are really only a few pay cheques away from bankruptcy. Nowadays, wealthy has a case of mistaken identity.
travelling overseas is cheaper than inland , especially if the focus is on alcohol/partyFrom the looks of it roughly 800,000 Australians headed off overseas in April. I know it's probably a bit dated since it's before the no surprises budget, but if roughly 3% of the population can have an overseas holiday in just one month, things can't be that bad
Ouch! Didn't they have a contract for the NBN? I remember reading that somewhere and also it was/is, I believe, a part of a private equity group.
The job losses keep racking up, however I am noticing a lot more fast food outlets are opening up.
Australia post to shed 900 jobs.
http://www.abc.net.au/news/2014-06-08/australia-post-to-cut-hundreds-of-jobs-report/5508236
BHP to shed another 280 jobs.
https://au.news.yahoo.com/thewest/business/wa/a/24195122/bhp-axes-180-jobs-at-newman/
A relative was down from Kalgoorlie on the weekend, apparently it is in a terrible state, people leaving in droves.
I suppose a lot of Eastern Staters will be heading back across the Nullabor, and NZers heading home. During downturns it is usually best to be close to family.
(31st-May-2014 ) Sydney city was packed tonight for Vivid, never seen so many people in town out side of NY's or some similar event, standing room only on the train home at 10.30...no visible signs of financial distress at street level tonight.
Absolutely packed again on both Saturday and Sunday Afternoons/night, coffee shops with customers 3 deep, same with the take away food joints and many of the sit down establishments..no visible signs of financial distress at street level at all.
You know what that is. People 'feeling' rich (for the youths, parent house worth plus half million) with the value of their property and low mortgage interest rates. When the official goes to 5% and over (won't happen soon obviously) them coffees are gonna be at home satchels in front of the telly. Enjoy it while it lasts I suppose plus psychologically it is good to 'feel' better.Absolutely packed again on both Saturday and Sunday Afternoons/night, coffee shops with customers 3 deep, same with the take away food joints and many of the sit down establishments..no visible signs of financial distress at street level at all.
I suppose the issue of that might be, you're only seeing the people who can afford to go out, and not the people who are at home because they can't afford to go out. Just trying to play the devil's advocate - bear style.
The job losses keep racking up, however I am noticing a lot more fast food outlets are opening up.
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