Knobby22
Mmmmmm 2nd breakfast
- Joined
- 13 October 2004
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And meanwhile back in our own little backyard.
Out shopping with the bride this morning and talking to a fellow with a business in the Frankston central shopping centre. Stated:
His business is down 30% in the last two weeks, many of his nearby associates reporting similar, but then he confided, "if this shopping centre called for all the tenants to pay back rent half the shops would be shut."
If there is an interest rate rise he said, we have had it.
Why last 2 weeks? Sure the market has been falling, but the average bloke on the street doesn't know what the sharemarket is doing in the last 2 weeks.
Is there any other reason that might explain the slump? E.g. colder weather, rain, nearby roadworks, parking changes?
Why last 2 weeks? Sure the market has been falling, but the average bloke on the street doesn't know what the sharemarket is doing in the last 2 weeks.
Is there any other reason that might explain the slump? E.g. colder weather, rain, nearby roadworks, parking changes?
...
However, it seems that the saving rate is high...meaning that there is a whole heap of people..with a fairly large amount of savings..and that number should be growing?...
That'd be nice, deflation in the real estate market.Retail is dying.
I have heard of a few tenants demanding and getting lower rents.
Its the internet!! Also Australian rents and margins being too high.
We will be in adjustment mode and there will be many winners and losers.
The gov'mint and Her Majesty's opposition don't have any answers.
Dont' know, he did quote figures down over the last several months but as it was in conversation do not recall detail more than stated. He himself (a newsagent) is end career and well enough off but felt we are in for times that we both agreed we have not experienced in our lifetime.
Time will tell of course so take it as you wish.
All the long only fund managers holding our market up were taken away in the rapture
Presumably much it is being parked in online savings accounts, yield from which is lower than it was a couple of years ago. Ditto term deposits. About 18 months ago you could easily get 8% on a term deposit, now it's closer to 6%. Why would rates have so dropped if banks were not feeling pretty flush with local deposit funds?However, it seems that the saving rate is high...meaning that there is a whole heap of people..with a fairly large amount of savings..and that number should be growing?...
A lot of people are still too scared to invest in the stockmarket since they got burned through the GFC...so where are they parking all this money!
I understand. Just that the 2 week timeframe seemed specific (and short) so I just tried to think of other factors. Clearly you didn't do an accountant's audit on his business.
Lol. The rapture was only last Sat... so those fund managers went somewhere, but it wasn't heaven.
When, for example, some local councils are taking away gas operated outdoor heaters from cafes etc and suggesting the proprietors utilise blankets for patrons instead, then you have a real problem! A vote of 8 to 10 in favour of getting cafes to issue blankets for patrons is a vote for these small business operators to go under. Local council stupidity aside, why isn't some skillful law firm out to sue these so called representative government agencies. I'm sure there is plenty of money in the till seeing as though they have chipped away at the middle class for quite some time now.
When, for example, some local councils are taking away gas operated outdoor heaters from cafes etc and suggesting the proprietors utilise blankets for patrons instead, then you have a real problem! A vote of 8 to 10 in favour of getting cafes to issue blankets for patrons is a vote for these small business operators to go under. Local council stupidity aside, why isn't some skillful law firm out to sue these so called representative government agencies. I'm sure there is plenty of money in the till seeing as though they have chipped away at the middle class for quite some time now.
Just remember that councils work for us, or are meant to, and any decision to adversely affect the real backbone to Australia's economy (small business and not mining) should be met with tough counteractive measures to keep these agencies from creating extra work for themselves while small business goes under. Hold them accountable for their damaging decisions. This might get others to reexamine their position with this counter-productive carbon tax and any adverse effect it will (definitely) have on the economy.
At the end of the day councils should not interfere too much in private industry, and if any other government agency wants to side with this local 'mob'then how are you going to get all that funding you need and deserve if the middle class and small business goes under?
And the next time we all go off to vote, in state and federal elections, maybe we should realise this isn't a popularity contest like in Big Brother or Australian Idol. I bet this country would still run efficiently for a few months if we had no government at all but were still protected by law enforcement agencies etc.
Seems an odd situation..I dont have much knowledge or experience to be commenting here...but my take on the situation is that people who have small businesses (retail etc) are struggling hardcore...
People with debt are also struggling as they were silly enough not to consider rates abnormally low when they took out their funding a few years back...
However, it seems that the saving rate is high...meaning that there is a whole heap of people..with a fairly large amount of savings..and that number should be growing?...
A lot of people are still too scared to invest in the stockmarket since they got burned through the GFC...so where are they parking all this money!
At the end of the day councils should not interfere too much in private industry, and if any other government agency wants to side with this local 'mob'then how are you going to get all that funding you need and deserve if the middle class and small business goes under?
The savings rate is high because a lot of older investors have cashed in also anyone with excess cash is paying down debt. The rest are swimming with just their nose above water and can't do anything but pray.
The funny thing is that the commentators are saying soveriegn debt issues are worrying investors.
What a joke everyone is waiting to see if China is willing to prop up raw material prices. I believe the next 6 months are going to be make or break for the Aussie market. I'm parked in cash and may miss out on a massive surge in prices, but I can live with that.
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