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The state of the economy at the street level

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PZ99 said:
Good thing John Howard lost his Govt and seat when he did.

Otherwise all this crap would've been legal and far more widespread.
Click to expand...

But at the moment it is very widespread and only technically illegal.
I say that because to date there has been very limited capacity to call businesses to account. As each new business gets away with trimming its costs and pocketing the profit it becomes that much harder to halt the rot.

Hemmes complained that his pubs may not be viable if he had to pay the going pay rates.:eek: (And he was making an absolute killing on the businesses)
 
sptrawler said:
The W.A Labor Government is starting to wind back some of the privatisation
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The wheel has turned on the 1990's type of thinking yes.

Manufacturing's the other one - we're going to see more of that in developed countries going forward but it'll take a long time to play out (decades). :2twocents
 
Smurf1976 said:
The wheel has turned on the 1990's type of thinking yes.

Manufacturing's the other one - we're going to see more of that in developed countries going forward but it'll take a long time to play out (decades). :2twocents
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I think Trump standing up and saying enough is enough, may well have the effect of making other Countries follow suit, it will be interesting to see if the momentum keeps going in the U.S if Trump is chucked out at the election.
It will also be interesting to see the way the U.K goes, when brexit settles down.
Also as you rightly pointed out, the current fiasco with disruption due to manufacturing being China centric, may cause Countries to re think at least some basic must have manufacturing and processing ability being onshored.
 
Humid said:
The ETU has been fighting tooth and nail to stop the privatization of power in WA
How's that work ing out compared
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Most of the major generation(Verve Energy) is public owned, I'm pretty sure Western Power(the linesmen) are still public, but they do outsource a lot of their work. Regionals (Horizon Power) I'm pretty sure is public, but also outsource a lot of the work.
 
Noticing some more businesses shut shop in Sydney CBD.

Sushi shop on Bathurst Street which has been there for at least 5 years, is now closed with a notice on the door saying they have been evicted due to not paying rent.

Cherry Beans cafe on corner of Liverpool and Pitt Streets is also closed with a similar notice on the door.
 
Instant implosion. Who would have picked a pandemic to finally blow up the economy.
Black swan indeed...
 
Was out today, masked up (more for others protection) and social distancing.

Talked to a lot of business owners, all different types of business. Some that survived the last recession. And it's worse then I thought. A lot will have to shut up shop today. Many will not be back. I have never seen anything like this before. Total retail armageddon.

This will be a wave of pain over the economy.
 
moXJO said:
Was out today, masked up (more for others protection) and social distancing.

Talked to a lot of business owners, all different types of business. Some that survived the last recession. And it's worse then I thought. A lot will have to shut up shop today. Many will not be back. I have never seen anything like this before. Total retail armageddon.

This will be a wave of pain over the economy.
Click to expand...

Governments doing the right thing. This won't be as bad as expected. I expect debts will be inflated away due to high government expenditure and low low rates. Much like WW2 and the Marshall plan
 
Klogg said:
Governments doing the right thing. This won't be as bad as expected. I expect debts will be inflated away due to high government expenditure and low low rates. Much like WW2 and the Marshall plan
Click to expand...

How come high government expenditure and low low rates couldn't help Japan?
 
Klogg said:
Governments doing the right thing. This won't be as bad as expected. I expect debts will be inflated away due to high government expenditure and low low rates. Much like WW2 and the Marshall plan
Click to expand...
I hope it's not.
But :
No one was in the shops.
Half the shops had shut.
The ones that were open had said they would have to close and not be able to continue.
A lot of industrial and trades had shut.
Restaurants are not turning enough deliveries to stay solvent.
No one wants to work.
Even child care is going under.
Every business said the same thing. Stimulus will not save us.

Unless this is over quickly, then it's going to be painful.
You have to question how state and federal governments are going to keep the economy turning when no one will leave the house beyond the supermarkets.

Today was the first time I have seen everyone in masks. At least 70% of people.
 
moXJO said:
I hope it's not.
But :
No one was in the shops.
Half the shops had shut.
The ones that were open had said they would have to close and not be able to continue.
A lot of industrial and trades had shut.
Restaurants are not turning enough deliveries to stay solvent.
No one wants to work.
Even child care is going under.
Every business said the same thing. Stimulus will not save us.

Unless this is over quickly, then it's going to be painful.
You have to question how state and federal governments are going to keep the economy turning when no one will leave the house beyond the supermarkets.

Today was the first time I have seen everyone in masks. At least 70% of people.
Click to expand...
re: 70% wearing masks: In what area?
I wonder how effective wearing a mask is. Say it captures a microscopic human spray, then you itch or mishandle the mask when removing it at the end of your journey, and in doing so infect yourself.
I'm more paranoid about touching surfaces or objects, like the fruit in a supermarket that everyone else has handled and coming home with it to eat it.
 
hja said:
re: 70% wearing masks: In what area?
I wonder how effective wearing a mask is. Say it captures a microscopic human spray, then you itch or mishandle the mask when removing it at the end of your journey, and in doing so infect yourself.
I'm more paranoid about touching surfaces or objects, like the fruit in a supermarket that everyone else has handled and coming home with it to eat it.
Click to expand...
South of Sydney.
Never seen that many people wear masks here ever. Admittedly there were lucky to be one tenth the number of people and that's not exaggerating.

There's a video of how to clean germs off your shopping on YouTube. Another guy said the transmission rate was pretty low anyway.
 
Speaking to one of my clients today the family owns a restaurant in Sydney CBD looks like they are going down the s*** chute.

My own business just took a 10% hit, but at least 100% recoverable at this point. While I usually question my life choices, it seems that at least for now, I'm bloody thankful.
 

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