V8Central Forums
Home | Profile | Register | Active Topics | Active Polls | Members | Search | FAQ | Links | Private Messages
Username:
Password:
Save Password
Forgot your Password?

 All Forums
 General Topics
 General chit-chat
 Recession-2019?!
 New Topic  New Poll New Poll
 Reply to Topic
 Printer Friendly Share
Next Page
Author Previous Topic Topic Next Topic
Page: of 2

REM
Team Manager



Australia
14305 Posts
joined 27 Sep 03

 offline

Posted - 16 Aug 2019 :  19:59:15  Show Profile Send REM a Private Message  Reply with Quote
Looks like we are in the midst of a real economic slow down, low wage growth, low consumer confidence, new car sales hit an 8 year low and retail sales figures worse than in the GFC!! How is the Australian economy really travelling? It looks pretty stuffed heh?

https://thenewdaily.com.au/money/finance-news/2019/06/19/retail-tough-conditions-insolvencies/


https://www.smh.com.au/politics/federal/car-sales-hit-eight-year-low-as-tax-rate-cuts-fail-to-rev-up-buyers-20190805-p52dws.html

https://www.afr.com/work-and-careers/workplace/rba-governor-calls-for-3pc-public-sector-wage-increases-20190809-p52fid

That's great, it starts with an earthquake
Birds and snakes, and aeroplanes
And Lenny Bruce is not afraid!
"Remember that in the end nobody wins, unless everybody wins!" Springsteen BTR.



Edited by - REM on 16 Aug 2019 20:04:49

Legendary Gerry
Moderator



Australia
22430 Posts
joined 19 Feb 07

 offline

Posted - 16 Aug 2019 :  20:53:22  Show Profile Send Legendary Gerry a Private Message  Reply with Quote Copy this URL to Link to this Reply
The economies of countries throughout the world are all in trouble due to the constant Trump/China battles.
Go to Top of Page

oldtimer
Team Manager



4217 Posts
joined 19 Jun 11

 offline

Posted - 16 Aug 2019 :  21:43:04  Show Profile Send oldtimer a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Legendary Gerry

The economies of countries throughout the world are all in trouble due to the constant Trump/China battles.




Actually, I suspect that Australia might benefit.

China needs a lot of agricultural products, particularly Soya bean and other pig food. If not buying from USA, then maybe more from Australia.

Once they start buying meat grain etc from Australia, they may find it cheaper to transport and keep buying increased amounts from us.

Australia is buying increasing numbers of cars from China.

etc. etc.

Why should we not benefit from the trade war?

Trump has only one or five years to go as USA No. 1 Banana, then it will all change.

Unfortunately the USA Democrats are a shambles, just like the Obama administration was a shambles, so I expect little from them or the republicans who were unable to find a politician to run for President last time.

Back to Recession. I blame the Media. If the self promotion economic journalists keep screaming Recession, the people will stop spending and ultimately cause one.

Bloody Journalists.

quote:
Australia is China's sixth largest trading partner; it is China's fifth biggest supplier of imports and its tenth biggest customer for exports. Twenty-five per cent of Australia's manufactured imports come from China; 13% of its exports are thermal coal to China. A two-way investment relationship is also developing.

https://www.google.com/search?q=china+trade+with+australia&rlz=1C1AVSF_enAU769AU769&oq=china+trade+with+australia&aqs=chrome..69i57j0l5.11227j0j7&sourceid=chrome&ie=UTF-8
Go to Top of Page

Zac
Lumberjack



Australia
9921 Posts
joined 24 Dec 04

 offline

Posted - 16 Aug 2019 :  21:47:06  Show Profile Send Zac a Private Message  Reply with Quote Copy this URL to Link to this Reply
Cheer up, Brian. You know what they say...

Some things in life are bad
They can really make you mad
Other things just make you swear and curse,
When you're chewing on life's gristle, don't grumble, give a whistle
and this'll help things turn out for the best
Go to Top of Page

Trickyonne
Sex God



Vatican City
17833 Posts
joined 13 Apr 03

 offline

Posted - 16 Aug 2019 :  21:57:39  Show Profile Send Trickyonne a Private Message  Reply with Quote Copy this URL to Link to this Reply
certainly is on the cards..intetesting times ahead

Ford 2018 champions
Go to Top of Page

REM
Team Manager



Australia
14305 Posts
joined 27 Sep 03

 offline

Posted - 17 Aug 2019 :  08:08:36  Show Profile Send REM a Private Message  Reply with Quote Copy this URL to Link to this Reply
The US and China, and journalists...worth considering, I guess...

Certainly we have had people here claiming to be superior economic manager, who have been calling for lower wages....now that we have them for an extended period....it looks to have killed the economy!

The people I know, claim that they have lost discretionary spending as their wages are not going up....but most essential services and Utilities are...

https://www.smh.com.au/business/the-economy/worried-rba-governor-flouts-convention-to-push-for-higher-wages-20190815-p52hlq.html?fbclid=IwAR3HsU4PZT31WK1ihz2-2tFgyEiaFGYr8ag_jojbly__xGd6FKlUrvPNWoY

That's great, it starts with an earthquake
Birds and snakes, and aeroplanes
And Lenny Bruce is not afraid!
"Remember that in the end nobody wins, unless everybody wins!" Springsteen BTR.


Go to Top of Page

Trickyonne
Sex God



Vatican City
17833 Posts
joined 13 Apr 03

 offline

Posted - 17 Aug 2019 :  08:30:24  Show Profile Send Trickyonne a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by REM

The US and China, and journalists...worth considering, I guess...

Certainly we have had people here claiming to be superior economic manager, who have been calling for lower wages....now that we have them for an extended period....it looks to have killed the economy!

The people I know, claim that they have lost discretionary spending as their wages are not going up....but most essential services and Utilities are...

https://www.smh.com.au/business/the-economy/worried-rba-governor-flouts-convention-to-push-for-higher-wages-20190815-p52hlq.html?fbclid=IwAR3HsU4PZT31WK1ihz2-2tFgyEiaFGYr8ag_jojbly__xGd6FKlUrvPNWoY



higher wages means everything is more expensive....lower taxes is the key

Ford 2018 champions
Go to Top of Page

REM
Team Manager



Australia
14305 Posts
joined 27 Sep 03

 offline

Posted - 17 Aug 2019 :  08:50:43  Show Profile Send REM a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Trickyonne

quote:
Originally posted by REM

The US and China, and journalists...worth considering, I guess...

Certainly we have had people here claiming to be superior economic manager, who have been calling for lower wages....now that we have them for an extended period....it looks to have killed the economy!

The people I know, claim that they have lost discretionary spending as their wages are not going up....but most essential services and Utilities are...

https://www.smh.com.au/business/the-economy/worried-rba-governor-flouts-convention-to-push-for-higher-wages-20190815-p52hlq.html?fbclid=IwAR3HsU4PZT31WK1ihz2-2tFgyEiaFGYr8ag_jojbly__xGd6FKlUrvPNWoY



higher wages means everything is more expensive....lower taxes is the key



Cutting taxes doesn't seem to have been helping at all really? And consider all the mega corporations who currently pay no tax.....but donate to the ALP and LNP....

There is a direct correlation between wage freeze and the economy running dead here in Australia.....no one feels that they are really better off with a tax cut.....but give people an extra $100 each week and they feel more secure....and are likely to spend.....thereby stimulating the economy...the proof is in the pudding...

https://independentaustralia.net/politics/politics-display/workers-wage-rises-lowest-on-record,13015#.XVnMlmwWBvk.facebook

That's great, it starts with an earthquake
Birds and snakes, and aeroplanes
And Lenny Bruce is not afraid!
"Remember that in the end nobody wins, unless everybody wins!" Springsteen BTR.



Edited by - REM on 19 Aug 2019 08:56:49
Go to Top of Page

Trickyonne
Sex God



Vatican City
17833 Posts
joined 13 Apr 03

 offline

Posted - 19 Aug 2019 :  09:01:11  Show Profile Send Trickyonne a Private Message  Reply with Quote Copy this URL to Link to this Reply
so how much strain would it be on business to give everyone an extra $100 per week ?

Ford 2018 champions
Go to Top of Page

REM
Team Manager



Australia
14305 Posts
joined 27 Sep 03

 offline

Posted - 19 Aug 2019 :  09:06:50  Show Profile Send REM a Private Message  Reply with Quote Copy this URL to Link to this Reply
How much more business would they have if everyone had $100 more to spend? We have seen now the wage caps are killing the economy, the jury is in....

That's great, it starts with an earthquake
Birds and snakes, and aeroplanes
And Lenny Bruce is not afraid!
"Remember that in the end nobody wins, unless everybody wins!" Springsteen BTR.


Go to Top of Page

oldtimer
Team Manager



4217 Posts
joined 19 Jun 11

 offline

Posted - 19 Aug 2019 :  09:18:21  Show Profile Send oldtimer a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by REM

How much more business would they have if everyone had $100 more to spend? We have seen now the wage caps are killing the economy, the jury is in....



What wage caps?

There is certainly a minimum wage that has recently increased, but no cap (maximum), although there is downward pressure at the 3 to 23 million dollar range.
Go to Top of Page

REM
Team Manager



Australia
14305 Posts
joined 27 Sep 03

 offline

Posted - 19 Aug 2019 :  09:26:32  Show Profile Send REM a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by oldtimer

quote:
Originally posted by REM

How much more business would they have if everyone had $100 more to spend? We have seen now the wage caps are killing the economy, the jury is in....



What wage caps?

There is certainly a minimum wage that has recently increased, but no cap (maximum), although there is downward pressure at the 3 to 23 million dollar range.



If you read back some posts, the Public sector wages cap is key...

https://www.afr.com/work-and-careers/workplace/rba-governor-calls-for-3pc-public-sector-wage-increases-20190809-p52fid

That's great, it starts with an earthquake
Birds and snakes, and aeroplanes
And Lenny Bruce is not afraid!
"Remember that in the end nobody wins, unless everybody wins!" Springsteen BTR.



Edited by - REM on 19 Aug 2019 09:29:31
Go to Top of Page

oldtimer
Team Manager



4217 Posts
joined 19 Jun 11

 offline

Posted - 19 Aug 2019 :  09:36:41  Show Profile Send oldtimer a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by REM

quote:
Originally posted by oldtimer

quote:
Originally posted by REM

How much more business would they have if everyone had $100 more to spend? We have seen now the wage caps are killing the economy, the jury is in....



What wage caps?

There is certainly a minimum wage that has recently increased, but no cap (maximum), although there is downward pressure at the 3 to 23 million dollar range.



If you read back some posts, the Public sector wages cap is key...

https://www.afr.com/work-and-careers/workplace/rba-governor-calls-for-3pc-public-sector-wage-increases-20190809-p52fid



Sure, there are wage Increase caps in place for some public servants, such as WA, but wages continue to be negotiated upward for public servants.

In any case, there are more than a few people who aren't employed in the various public services. On the whole public servants don't do all that badly on wages.

But, certainly, there is no wages cap for all workers.
Go to Top of Page

Legendary Gerry
Moderator



Australia
22430 Posts
joined 19 Feb 07

 offline

Posted - 20 Aug 2019 :  11:38:59  Show Profile Send Legendary Gerry a Private Message  Reply with Quote Copy this URL to Link to this Reply
Germany could be in a spot of bother too.

https://www.9news.com.au/world/germany-recession-wide-implications-as-european-powerhouse-hits-hard-times-finance-news/9bafd7ab-528e-4772-a77d-746bc3ece4de
Go to Top of Page

oldtimer
Team Manager



4217 Posts
joined 19 Jun 11

 offline

Posted - 20 Aug 2019 :  12:15:31  Show Profile Send oldtimer a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Legendary Gerry

Germany could be in a spot of bother too.

https://www.9news.com.au/world/germany-recession-wide-implications-as-european-powerhouse-hits-hard-times-finance-news/9bafd7ab-528e-4772-a77d-746bc3ece4de



Since 1945, German economy has been pumped up by the USA.

Germany even makes the USA pay rent for the properties used by US troops and airplanes posted there, at great expense, for Europe, Germany and NATO defense and for the honour of spending their US supplied wages in Germany's shops..

Finally there is a USA President who has the guts to tell them it's time to pay their own way.

Go to Top of Page

Zac
Lumberjack



Australia
9921 Posts
joined 24 Dec 04

 offline

Posted - 20 Aug 2019 :  12:18:04  Show Profile Send Zac a Private Message  Reply with Quote Copy this URL to Link to this Reply
Look out for the term "inverted yield curve" to appear more frequently. Not a good sign when it does. I don't know whether Australia or the world is heading into recession, but the signs aren't positive.

I wouldn't blame the Australian government for a recession, or the media, and I wouldn't blame Trump either (although the US - China trade war isn't helping), and wage rises in Australia wouldn't help. Besides, history shows that when Australians get extra cash, they generally use it to pay down personal debt which doesn't really boost the economy.

Recessions are relatively recent events in world history, and have happened when financial markets get the jitters from bad news. Trade imbalances between major trading countries, rising personal debt levels (especially when people owe more than what their assets are worth) are some of the major reasons, and when financial markets get nervous about these things, the word gets out and money gets withdrawn and banks cut lending. Continually promoting "growth, growth, growth" doesn't help either. Expecting businesses to keep growing instead of promoting steady profitability is unreasonable, and pulling resources out of a finite planet at ever faster rates is more unreasonable again. So, seeing what's happening with those things, the signs aren't positive. there again, the more we believe it might happen, the more likely a recession is to happen.

https://www.smh.com.au/business/markets/what-is-an-inverted-yield-curve-and-why-does-it-matter-20190815-p52h92.html
Go to Top of Page
Page: of 2 Previous Topic Topic Next Topic  











Next Page
 New Topic  New Poll New Poll
 Reply to Topic
 Printer Friendly Share
Jump To:
V8Central Forums © 2001 - 2018 V8Central Go To Top Of Page
This page was generated in 1.64 seconds.