The state of the economy at the street level

[satanoperca]

Which post, where?

 

[Toyota Lexcen]

The one your interested in

 

[wayneL]

Speaking with a client in the building game yesterday, reckons there are a number of plumbers out of work for the first time in ages. FWIW

On the other hand my trade is whacking up prices and people aren't even blinking.

 

[SirRumpole]

Speaking with a client in the building game yesterday, reckons there are a number of plumbers out of work for the first time in ages. FWIW

On the other hand my trade is whacking up prices and people aren't even blinking.

The rich are getting richer and the poor are getting poorer.

Your example would be repeated a lot in the real economy I'd say.

 

[Toyota Lexcen]

I finding it very easy to get trades and they are very amicable to deal with.

Similar to the mining shakeup a few years ago all the average workers are sitting on the sidelines.

They came out of the mines to the Eastern states, filled the numbers on towers etc and now unemployed.

 

[satanoperca]

Maybe the wrong thread, but well worth the watch.

 

[SirRumpole]

Maybe the wrong thread, but well worth the watch.

Fascinating.

I can't recall the ARB printing money but everything else he says seems to be spot on.

 

[wayneL]

I finding it very easy to get trades and they are very amicable to deal with.

Similar to the mining shakeup a few years ago all the average workers are sitting on the sidelines.

They came out of the mines to the Eastern states, filled the numbers on towers etc and now unemployed.

News.com is reporting a collapse in the Ute index. Ie Ute sales are down

 

[Toyota Lexcen]

They didn’t print, but surely the manufacturing boom in Asia has to account for a lot of the advancement

Not that simple

 

[qldfrog]

Maybe the wrong thread, but well worth the watch.

So what is the option for our savings? Gold?

 

[basilio]

What happened in the 1990's recession ? Worth a review.

Remembering the recession: 'The 1990s experience changed my view of the world'
Is Australia facing a recession? Many are too young to have experienced the devastation wrought by the economic downturn of the early 90s
https://www.theguardian.com/busines...1990s-experience-changed-my-view-of-the-world

 

[basilio]

The Live Wire interview is sobering and disturbing. Quite scary...

 

[Humid]

One big difference in WA now is the amount of different mines in operation compared to then.
The maintenance never stops and everything is exported so the local market is irrelevant.

I’m in iron ore automation so the emerging economies hopefully will keep me employed long enough to buy a v8 Ute and new jet ski

 

[Value Collector]

Only if everybody is dead. Otherwise it's $184 trillion.

For every $1 debt on some ones balance sheet, there is a $1 on some ones else's, so the net debt is $0

 

[SirRumpole]

For every $1 debt on some ones balance sheet, there is a $1 on some ones else's, so the net debt is $0

That assumes that debt will actually be paid off and not forgiven or defaulted on, so there is also a "provision for doubtful debts" which means it's not a binary equation.

 

[Value Collector]

A tell of 2 Australias
North brisbane
Strathpine shopping center
Elderly population, disabled, low attendance at,closing shops
North lake shopping center
Younger clientele more consumption
At each rate cut, Strathpine remaining purchasers tighten the belt
While in North lakes they enjoy the extra money from the mortgage cuts

I know both centres well, I actually went to high school just down the road from Strathpine shopping centre (when it was still Westfields Strathpine) I was a Pine Rivers kid.

The difference between the two is mostly geography, Westfields sold Strathpine and toombul shopping centre and invested heavily in North Lakes and Chermside because they knew Strathpine and toombul were weaker locations vs North lakes and Chermside which sit right on the freeway/main drag out of Brisbane pulling in large amounts regional traffic while also pulling the higher spenders from Strathpine and Toombul areas due to better retail offerings.

 

[Value Collector]

That assumes that debt will actually be paid off and not forgiven or defaulted on, so there is also a "provision for doubtful debts" which means it's not a binary equation.

its still the same, a default causes an asset to disappear of one balance sheet and a debt to disappear of another, still net $0, a default causes the defaulter to become richer and the creditor to become poorer.

Hence the reason the Tax Office treats debt forgiveness and income.

 

[Value Collector]

So what is the option for our savings? Gold?

Income producing assets.

definitely not gold, unless you are 75 years old, and don't want to leave anything for your family or charity.

 

[PZ99]

For every $1 debt on some ones balance sheet, there is a $1 on some ones else's, so the net debt is $0

For as long as money is a token of exchange for labour there is no equilibrium of debt to assets.

 

[Value Collector]

For as long as money is a token of exchange for labour there is no equilibrium of debt to assets.

I am not sure what you mean.

a $1 debt is a liability to one person (claim on that persons future Labour) and an asset to another (promise of future labour) for every $1 liability that exists another entity has a $1 asset.

It’s just the way it is, like the laws of physics.