The state of the economy at the street level

[tinhat]

We went over to the closest major shopping center today, it is the first week that most of the shops are open, unbelievable amount of shoppers and all carrying bags of bought articles.
This blip to the economy may be short lived, as we said earlier, it looks as if the Government has taken the majority of the financial hit not the business sector.
The next reporting season, in a couple of months, will paint a better picture IMO.

The show is not over in my humble opinion.

 

[basilio]

Sobering analysis on the current "unemployment figures" . Basically not worth the pixels they written on.
The numbers on Job Keeper as well as the sheer number of businesses still not running is dwarfing the official numbers.

In terms of where the economy is going it is not good news. The flash point will be September when the Government intends to remove much of the current financial and other support from the economy.

Corrupted unemployment number obscures more than it reveals
https://www.abc.net.au/news/2020-06...ll-mask-the-true-scale-of-job-losses/12370940

 

[frugal.rock]

And that's just Aus.
Surely the US and China true figures are worse than ours...?
Tip of the iceberg IMHO.

F.Rock

 

[moXJO]

Can't get a lot of stuff still. Feels like Australia in the 80s. Business is closing earlier in the afternoon as well.

Apparently depression is up and crisis lines are running hot.

 

[Smurf1976]

Can't get a lot of stuff still.

Anything specific?

I noticed last time I went to Bunnings that the shelves are stocked as such but there are individual products which aren't available or where the range of brands, sizes etc is greatly diminished.

 

[over9k]

Bunnings is going gangbusters because people are using the time to do stuff they haven't had time to do.

I rebuild engines as a side thing/to keep myself sane (more of a hobby job than anything) and after not selling a single one in over a month I then sold 5 in a week once coronavirus hit as everyone now have the time to get around to their projects.

 

[moXJO]

Anything specific?

I noticed last time I went to Bunnings that the shelves are stocked as such but there are individual products which aren't available or where the range of brands, sizes etc is greatly diminished.

High end specific products mainly.

Anything health related.

US products.

Digital.

Hard getting stuff in.

 

[jbocker]

In the west.
Pubs are opening right up now and the fighting in the streets has returned.
Seems like things are getting back to normal.

I don't see much sledging of the Victorians, 'second wave'. Nor what is the real cause. Surprised no-one has blamed branch stacking.

 

[over9k]

The meltdown today is in response to the U.S meltdown on friday + the victorian number spike. It'll pass and aus will have a travel bubble until vic gets itself under control. Then there's seasonality for the southern hemisphere. You should have had your lasers charged ready to buy.

 

[jbocker]

I don't see much sledging of the Victorians, 'second wave'.

Well its is starting, in the area that we all looked for as a proof of concept. (apology: Not exactly street level)
Thursday night's AFL clash between West Coast and Richmond has been officially postponed, as the Queensland government imposes severe quarantine restrictions on any team who confronts Melbourne opposition.

 

[sptrawler]

Well today, I had to be home for the delivery of the daughters 65" android clogan T.V.
So when I was helping the young Estonian delivery guy to carry it in, I did what all Aussies do and said how are you liking Australia.
He said , great country, great climate, I love it.
So I asked what differences do you notice between Estonia and Australia, he said people who are poor work hard then they get wealthy, then they get lazy then they get poor, then they work hard and they get wealthy again and the circle completes.
I thought that was priceless.

 

[Dona Ferentes]

Oh yeah. Too true. And long may we have such flexibility.

You can lead a horse to water, but you can't make it think.

 

[jbocker]

Funeral today 12.30pm. Lots of people lots of hugs, the family appreciated having all the support.
I was glad they didn't have suffer the farewell a couple of months ago with only 5 in attendance.

There was only 1 other funeral that I noticed while I was there. Usually they run two abreast. Almost no cars in carpark just after midday. I put it down to coincidence, it being quiet.
Traffic on the streets was quite heavy every where was busy.
Went to a restaurant on the way home 6.30pm. Chockers. Second restaurant managed to get a table for two. Not bad for a Wednesday night. Service was very good and keen.

 

[qldfrog]

Well today, I had to be home for the delivery of the daughters 65" android clogan T.V.
So when I was helping the young Estonian delivery guy to carry it in, I did what all Aussies do and said how are you liking Australia.
He said , great country, great climate, I love it.
So I asked what differences do you notice between Estonia and Australia, he said people who are poor work hard then they get wealthy, then they get lazy then they get poor, then they work hard and they get wealthy again and the circle completes.
I thought that was priceless.

I assume he meant as a society..it is true as long as when lazy, you do not make it impossible to work hard again: welfare state,law and regulations,ndis,parasiting...
Then it becomes Greece France

 

[basilio]

Oh yeah. Too true. And long may we have such flexibility.

You can lead a horse to water, but you can't make it think.

I think horses think exceptionally well without our having to make them think.

 

[moXJO]

Building suppliers are running flat out. The ones I talked to can't keep up with demand.

 

[jbocker]

I think horses think exceptionally well without our having to make them think.

I have chatted a few old mares in my day and they MADE ME think I better get a drink.

 

[aus_trader]

Building suppliers are running flat out. The ones I talked to can't keep up with demand.

OK good to know the intel at street level. I am not seeing the demand reflected in stock prices yet but will be watching closely...

 

[moXJO]

florist I was talking to can't keep up with demand. They also can't get certain flowers as they come from overseas.

Massage therapist has tripled their workload and can't keep up.

 

[wabullfrog]

Local Italian restaurant did surprisingly well with takeaways & now WA has opened up a lot weeknights are at close to summer holiday levels. This is for a town on the South Coast so Winter is generally quieter. The owner says it's locals that would normally head overseas or spend the Winter touring Northern Australia staying local driving the business.