Thread: Are we in a recession or do I just think we are?

Well its the two-speed economy, either you're in mining or you're not. Manufacturing is basically stuffed. Farming is crippled. Retail isn't far behind. Aged care companies must be doing a roaring trade though.

Well in the flooring trade in Qld is really really bad at the moment. Retails sales are dead , and commercial are not a lot better
Same for a lot of other markets, bed and furniture is the same.

We are waiting for more retail shops to fall over. Some are on there way out on the sunshine coast and a couple have already gone this month in the gold coast. There will be more to follow shortly.

So yeah I think we are. Just need two quarters of negative growth to make it official but problem in Qld is we are boming according to the government. So we are two tier economy, But unless you are in mining your suffering.

And in Qld it is a total mystery what the government does / has done with all the money it gets from mining. Because it sure as hell has not gone to the Qld people. The state is broke and every thing is going up for Queenslands we have gone from the cheapest state to live in to the most expensive. That has not helped out retail at the moment.

Ali

retail is dead or at best dying in this part of the world

nearly every small business i talk to is pessimistic

already a few have folded around here and quite a few more have downsized to smaller premises

many are praying the make it to end of lease...

bit eerie actually...

the big carpark over the road from me had 3 cars in it at lunchtime today

that is definitely scary....

The housing industry in Melbourne has dropped right off too not much new build going on not good signs ....

Having come from the manufacturing industry I'm not supprised it's dying out,too many sickies,too many people not giving a stuff and everyone wants top dollar for a **** poor work ethic. Pat

If people keep talking things down it will happen.

Around here business is still spending and so is the average punter, but we had a recession before the GFC hit with Equine Influenza, that ****ed these parts well and truly.

Perhaps we had an economy that was based on the fool's paradise of selling housing to each other and property prices would always increase at 10% per annum. An economy should be based on value adding to our primary produce and natural resources. Instead we dig it up, chop it down, harvest it, and export without value adding. This needs government intervention.

Easy money from lenders and credit card services created a debt cursed working population who bought houses on 100% loans and won't have equity for 20 years. Housing loan interest rates are almost the lowest for decades and borrowers complain.

This week the Commonwealth Bank revealed that its housing loan business is approaching profitability with the latest rate increases yet still borrowers complain.

What is bad about an economy where most people are driving cars <5 years old, go for overseas holidays, are well dressed, and eat in restaurants?

Stop winging that the economy is bad. It obviously isn't with the level of discretionary spending observed. Get out and spend some more on Australian made goods. Don't winge about the economy if you are buying expensive imported goods. Help yourself by buying Australian made. The job you save may be yours.

We are living in the best country in the world in the wealthiest time in its history...

... & GDP is high

... economic commentators write that it's just that some businesses and individuals haven't made their adjustment yet