Thread: Economist's views on Australia

I have to say that I'm not all that confident in the future performance of my "Super."

Economics is a fascinating topic. I always love looking at the 12 month forecasts of 'experts'. Hindsight it is almost always a very humbling experience for almost all who are prepared to tell/predict the future. Shocks from events overseas are possibly a bigger issue that all the huffing and puffing we see locally

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i have a slightly different thinking style. is a "bad" economy something to be "fixed"? should it be the govt's job to "fix" it?

Too much waffle & too many variables in that article for me to comprehend.
However, as a mark of my "respect" for it, I see one of the so called & hopefully (I suspect not) unbiased experts are predicting a 12% decrease in the value of Melbourne properties in the next 12 months,...... which I consider ridiculous.
I'm also getting so tired of interest rate decreases "to stimulate the economy",....jeez, if interest rates have anything at all to do with it, with cash rates of 1.5%, if stimulating an economy has anything to do with low rates, and then taking in the historically record low rates we have now, then lower rates ain't never going to stimulate anything.....the REAL drama will occur when they start to go,....UP?
Pickles.
Ya shoulda put this in C.A. Rambling, those boys would have a ball with it.

Originally Posted by Eevo

i have a slightly different thinking style. is a "bad" economy something to be "fixed"? should it be the govt's job to "fix" it?

If any business or company or organisation openly declares to the public that certain goals or achievements are going to be met , then the general public has every right to believe that they can safely invest in those goals in whatever shape or form they wish it to be. False claims made by businesses and companies are considered to be fraud and dealt with by the legal system . Any gov't and persons representing a government making false claims should be dealt with in exactly the same manner. Accordingly any person should be given an opportunity to rectify their wrong doings.

So, yes Eevo , whomever is responsible for the given situation , should fix it.

Originally Posted by Saitch

I have to say that I'm not all that confident in the future performance of my "Super."

Super is going quite well, probably be in the 7-9% range for most funds, because the share market overall is solid because the big miners are doing well selling iron ore to China, which is spending on infrastructure to combat Trump's tariffs, and record gas exports which have made us the top gas exporter.
The real worry is the domestic economy, which is in the toilet for several reasons, some political and so unable to discussed outside Current Affairs.
We decided earlier this year we were in a domestic recession. Measured by per capita GDP we are already in recession. Take out government infrastructure spending and we are in recession.
Causes include stagnant wages, over-priced housing in Sydney and Melbourne and the 30,000 cut to immigration, which has reduced consumer demand for housing, food, clothing, education, cars and other consumer spending.
We have just finished a full revision of our transition to retirement plan to cope with the undeclared recession. Sadly, I think I will have to work longer, as will The Navigator. Plans to hit the road have been deferred.
Oh well, at least I should be able to afford more accessories for George the Defender.

Originally Posted by ramblingboy42

If any business or company or organisation openly declares to the public that certain goals or achievements are going to be met , then the general public has every right to believe that they can safely invest in those goals in whatever shape or form they wish it to be. False claims made by businesses and companies are considered to be fraud and dealt with by the legal system . Any gov't and persons representing a government making false claims should be dealt with in exactly the same manner. Accordingly any person should be given an opportunity to rectify their wrong doings.

So, yes Eevo , whomever is responsible for the given situation , should fix it.

i think you missed my point. i would like to see a smaller govt that doesnt run or interfere with the economy.

Originally Posted by Eevo

i think you missed my point. i would like to see a smaller govt that doesnt run or interfere with the economy.

Well, before you sack them, get them to fix interest rates. Get interest rates back up where they should be to boost investor's confidence and incomes. Long term bank deposit rate should never be less than 10%. I don't care about borrowers. Pay up and shut up. You are using other peoples money and have to pay a fair price for this privilege.