Australian (ASX) Stock Market Forum

The state of the economy at the street level

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JohnDe said:
This thread was started over 8 years ago, very interesting to re-read the comments & gather the differing views.

I’m still on holidays, sharing my time between home & our coastal retreat. I have inadvertently picked up conversations from many different people in different areas.

While enjoying the sun & water activities I heard people talking about looking for and researching properties, some for short term rentals to help pay off the mortgage & then to be their holiday place, others for straight out buy & turn into holiday accommodation.

I watch the realestate market and had another look after hearing all the talk, property is selling fast.

Went to dinner at the Sailing Club, all friendly volunteers. We arrived 30 minutes after opening & the place was buzzing with activity, luckily we got the last table. Talking to the staff, I was informed that it was the busiest night that they have ever had. The members section was full, and so was the guest & outdoor section, with the bar full with people waiting for a table.

Every cafe, pub, bar, restaurant has been full all week. The caravan parks are booked solid, apartment cleaning staff are smiling as their bank accounts fill.

Yesterday evening I drove back home to run some errands, swap cars, pick up a few things & check on my business. I noticed packed 4WD’s & caravans traveling in all directions, number plates from just about every state.

As I got closer to the city I could see a large fireworks at some location, obviously people enjoying themselves.

This morning I went to the gym, I couldn’t believe my eyes, the place is chock-a-block. Quite a few interstate visitors, people talking about their Christmas celebrations & then enjoying the cafe down stairs for some social interaction & food.

I’m now sitting in the car wash cafe waiting for my VF SSV Ute to get the bugs cleaned off, while I have a coffee & croissant amongst the other 20 or so clients.

the economy might be in a bad spot, but the people seem to be holding up pretty well.

I’ll keep monitoring the situation.

Almost time to go, next stop is to swap cars. Taking the Tesla back to my coastal retreat, later in the afternoon after I get the tyre pressure checked and pick up a few things. Busy day.
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Almost time to head back.

Went to my local grocery store/fruit & veg to pick up supplies. Bloody hell, you would have thought it was coming up to Christmas again, people everywhere.

Then off to the petrol station to fill up before parking the car away for the next few weeks. Couple of home maintenance jobs, grabbed a few much-needed beverages to take up & got the esky ready.

Now I'm at my business, in the office, all paperwork (electronic) done, mail sorted, bills paid. I'll be leaving in a few minutes, the Tesla is 80% charged, just a few more trips and then I'll call the wife and see what she wants me to bring up.

Feels like a Friday rather than Saturday, a lot of traffic in the city.
 
JohnDe said:
I've heard your description of peoples work ethic since my early working life, first from my retired grandfather and later on from my retired father. Funny thing is, we're still there.

I meet and know a lot of people that work very hard. Landscapers, tilers, electricians, and the ilk that get the job done, work their guts out so as to make free time. Quite a few people are working two part time jobs, to save for their house or a holiday. None of these people advertise the fact.

Your mate with the car yard, how did he go for stock? My mate left the car yard sales game because he had no stock to sell, the very large company told the staff that all commission on sales would be given when delivery was completed in 12 to 24 months. My mate now works in finance/banking selling loans.

While there are jobs in the economy and decent pay, there will be people happy to spend it.

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Yeah, it seems that he is trying to get out from the game. No staff, No stock not like him doing 7 days a week can improve the stock situation.


Oh yes it is always like that, I agree. When I was a kid in the 90s I always heard adults say we are heading for the end of our society etc. I do agree with that comment usually we pull through and stronger. There will always be dips here and there.

1 thing to take into account is, those that have money and perhaps enough assets and savings to be living the good life will always be easily seen. Those that struggle won't be parading around as much, but I do acknowledge the fact that there is still plenty of money walking the streets and living the good life

www.abs.gov.au

Average household debt grows by 7.3 per cent

www.abs.gov.au www.abs.gov.au
 
Actually it's hard to get anyone. Even had a tatto artist, barber ask me to find guys. I talk to dozens of businesses a week and its all the same thing: can't get anyone to work. Been like this since 2021 or longer (damn years are going to fast)

I keep hearing the same thing from people in their 20s as well. I'm doing the bare minimum for wages.

I noticed the change. I think lockdowns were part of it. Changed people's perceptions of life. But businesses owners I know are working very hard. So it's possible it's a case of 'work hard to enrich yourself' mentality.
 
@againsthegrain has pointed out the over exuberance shown by some.

@JohnDe has pointed out the other side of the coin.

I'm trying to be industrious and do more hours, so is the wife and kids. We're tired though. I'm encouraging belt tightening and have been for a while. When unexpected costs pop up,( like having to replace the wife's broken car)these days they are 20% more than just a few years ago. It's a constant juggle.

I've noticed that some walks of life are treating jobs and employers as disposable. Giving little notice, random "sick days" for other excursions etc

A point I'm trying to make here is, once China gets back into the swing of it, the world should start rebalancing to what used to be normal. I don't expect it to get fully back to the way it was though, there's too many other agenda's going on.
 
frugal.rock said:
@againsthegrain has pointed out the over exuberance shown by some.

@JohnDe has pointed out the other side of the coin.

I'm trying to be industrious and do more hours, so is the wife and kids. We're tired though. I'm encouraging belt tightening and have been for a while. When unexpected costs pop up,( like having to replace the wife's broken car)these days they are 20% more than just a few years ago. It's a constant juggle.

I've noticed that some walks of life are treating jobs and employers as disposable. Giving little notice, random "sick days" for other excursions etc

A point I'm trying to make here is, once China gets back into the swing of it, the world should start rebalancing to what used to be normal. I don't expect it to get fully back to the way it was though, there's too many other agenda's going on.
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my wife is going like crazy buying shoes clothes booking holidays.... I am going crazy paying the bills buying radiator hoses, thermostats, oils, coolants etc... oh yeah and doing the labour too ofcourse.
Its all rosy and glamorous for her.. because she never once had to see how things work under the bonnet and I don't mean just the car but as a analogy.

perfect example of 2 totally different angles
 
frugal.rock said:
@againsthegrain has pointed out the over exuberance shown by some.

@JohnDe has pointed out the other side of the coin.

I'm trying to be industrious and do more hours, so is the wife and kids. We're tired though. I'm encouraging belt tightening and have been for a while. When unexpected costs pop up,( like having to replace the wife's broken car)these days they are 20% more than just a few years ago. It's a constant juggle.

I've noticed that some walks of life are treating jobs and employers as disposable. Giving little notice, random "sick days" for other excursions etc

A point I'm trying to make here is, once China gets back into the swing of it, the world should start rebalancing to what used to be normal. I don't expect it to get fully back to the way it was though, there's too many other agenda's going on.
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Not sure if China can go back to how it was.


As for the rest, recession is the great leveller.
Hundreds of people applying for a job soon changes your mentality.
I remember there being no jobs anywhere. Crime, drug use, suicides weekly.
Saw this article and it took me back:

https://www.abc.net.au/news/2020-09...st-recession-1990s-30-years-covid-19/12623110
 
moXJO said:
Not sure if China can go back to how it was.
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I agree there, but the point I probably didn't get across is the exuberance from China re-opening "freedom man" will be rife.
Exuberance and industriousness will pop.
Give it a few months or so for the data to start flowing.
No doubt they will experience greater inflation, supply issues etc than we or the US had, but it will level out. Meanwhile, they're commodity etc hungry.

I saw a video of a Chinese dog pacing around on a balcony, it then just jumped off, to it's unknown death.
 
Around my area it's kind of mixed. One day I will go out and everything is absolutely humming, the next you can fire off a shotgun and not hit a soul.

My own client base is doing pretty well, but belong to a pretty well off demographic.

But as others mentioned above getting staff is possible... And when they do getting them to stay working is just as hard. They just quit, often with no notice.

I'm just happy that my little business operates well enough as a one-man band. I desperately need to put somebody on but at the moment I'm just not even going to attempt it.
 
wayneL said:
Around my area it's kind of mixed. One day I will go out and everything is absolutely humming, the next you can fire off a shotgun and not hit a soul.

My own client base is doing pretty well, but belong to a pretty well off demographic.

But as others mentioned above getting staff is possible... And when they do getting them to stay working is just as hard. They just quit, often with no notice.

I'm just happy that my little business operates well enough as a one-man band. I desperately need to put somebody on but at the moment I'm just not even going to attempt it.
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Good afternoon WayneL. Sounds like you are almost living next door. Our "busy" road has been dead quite, how I love the festive season. Only have I moron at the moment disturbing the peace and as a temporary Australian "motor bike rider" his days are numbered going by the way he rides.
Gave up on getting an offsider some time ago. Only basically unemployable types around, and then they want, want and want, that is, a phone, ute and mining industry wages.
So as usual just She (occasionally) and me. What we earn is all ours, best way to be. What's not done today, moves on to tomorrow
 
farmerge said:
Good afternoon WayneL. Sounds like you are almost living next door. Our "busy" road has been dead quite, how I love the festive season. Only have I moron at the moment disturbing the peace and as a temporary Australian "motor bike rider" his days are numbered going by the way he rides.
Gave up on getting an offsider some time ago. Only basically unemployable types around, and then they want, want and want, that is, a phone, ute and mining industry wages.
So as usual just She (occasionally) and me. What we earn is all ours, best way to be. What's not done today, moves on to tomorrow
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Oh yeah! We've got one of those encroaching on our little piece of Nirvana too.

I'm studying grassy knolls at the moment.
 
wayneL said:
Oh yeah! We've got one of those encroaching on our little piece of Nirvana too.

I'm studying grassy knolls at the moment.
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WayneL how about this moron came up alongside my ute on the back wheel only at about 90k and then lashed out with his left fot at my driver's door. Caught me off guard completely, otherwise it would have been a fly in the eye and a hard swerve to the right.
 
farmerge said:
WayneL how about this moron came up alongside my ute on the back wheel only at about 90k and then lashed out with his left fot at my driver's door. Caught me off guard completely, otherwise it would have been a fly in the eye and a hard swerve to the right.
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I'm actually blown away by the road rage in this city since I've come back
 
farmerge said:
Everyone seems to think that the road don't apply to them, speeding, dangerous overtaking at speed, tail gating, over slow driving etc etc
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Yep. Because I'm on the road all the time I have to watch my demerits... It's not hard to get caught out in a lapse of concentration.

Coming down Great Northern Highway at the Reid Highway intersection is a classic... They set up the camera right at the change of speed limit and it's not hard to miss that 60 sign.

Which of course means I have the absolute temerity to stick to the speed limit, for which I can't count count the number of times I have been abused for.

Another spot up your way, heading east out of Gidge. It's 60 until you get well past the showgrounds I'm sure you know where the revenue collecting heathen like to set themselves up.
 
wayneL said:
I'm working on the theory that Oswald was the patsy.
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most likely , the first rifle found on the scene was NOT the 'murder weapon' ( it was a Mauser action , i.e. something actually capable of sniper work , but chances are the scope was too powerful for a target that close )

AND i really can't believe the 'official narrative ' was believed for a millisecond by the Texans ( i knew it was crap as an eight year old in Australia )
 

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