Categories
Economy

The Government is Happy with the Economy

#AusPOL #Economy #Recession Our government is apparently happy with the trajectory of the Australian Economy. Am I the only one who is sceptical? References Annual Report 2017 – 2018https://www.wgea.gov.au/sites/default/files/documents/wgea-annual-report-17-18.pdf https://www.news.com.au/national/breaking-news/finance-minister-backs-economic-trajectory/news-story/59a86b2eb423e03cee8b6d910045c3dd?fbclid=IwAR0EzeZByAiCFtvoFwPBamRcVZDiqCkpT_G_e98H5BSsa5U63pzx_gB3GzU

Categories
Economy Recession

Australia’s Recession is Coming

#Recession #Australia #Economy Economists are predicting that there is a 20% to 25% chance of Australia heading into recession within the next 12 months. While their hope is based on the Chinese domestic market supporting Australia, I’m more sceptical. References The good, the bad and the bumper sticker as Australia faces ‘20-25 per cent chance […]

Categories
Economy

Credit Card Debt is Bankrupting Australians

#CreditCards #Bankruptcy #Australia Australians are being bankrupted because of credit card debt. Another sign of difficult times and terrible financial education? References Debt collectors are bankrupting Australians over small credit card debts https://www.abc.net.au/news/2019-08-13/debt-collectors-suing-for-bankruptcy-over-small-credit-card-debt/11335000?section=business

Categories
Economy

JB Hi-Fi Bucks the Retail Recession

Unemployment #Recession #Retail JB Hi-Fi has bucked the trend and avoided the impact of the retail recession. A turn-around or simply a result of their product brand a people naively spending a tax-cut like a handout? References JB Hi-Fi announces strong profit, despite bleak retail conditions https://www.abc.net.au/news/2019-08-12/jb-hi-fi-results-profit-tough-retail-sector/11404608?section=business

Categories
Economy

Australia’s Unemployment Rate is set to Rise

#Unemployment #Recession #Economy Market Economists are predicting Australia’s Unemployment rate will rise late this week. That would seem to align with the recent news about the retail recession that is underway. References Wage and unemployment numbers set to pressure RBA to cut interest rates again https://www.abc.net.au/news/2019-08-11/interest-rates-under-pressure-again-from-wage-jobs-figures/11398864?section=business Roy Morgan Employment Estimates (1999-2019) https://www.roymorgan.com/morganpoll/unemployment/estimates-detailed

Categories
Economy

Make your submission – Australia’s Cash $10000 Ban

#CashLimit #AusPOL #$10,000 The Australian government is proposing to limit cash transaction to $10,000 or less to reduce the black market, make sure you get your submission to Treasury before the deadline on the 12 August 2019. References John Adam’s – https://www.adamseconomics.com/post/cash-transaction-ban-consultation-submission-john-adams?fbclid=IwAR0bwG9IHoyRHoy4KaTklKjQ6QyNS2VNbD9cAlmRaF_LgRIxm_RmX6lBff0 My Submission – https://says.heise.com.au/contacting-the-house-of-reps-about-the-restrictions-on-the-use-of-cash/ Treasury – https://www.treasury.gov.au/consultation/c2019-t395788

Categories
Economy Political Commentary

Philip Lowe Faces Parliament

#RBA #Economics #Australia Reserve Bank Governor Dr Philip Lowe Faced the Parliamentary Economics Committee in Canberra and was challenged on the recent rate cuts and the future of the Australian economy. The more I learn about Monetarism, the less confidence I have. References https://www.news.com.au/finance/economy/interest-rates/rba-accused-of-giving-up-on-stimulating-the-economy/news-story/f5f6ccf7ace28878b9c03404f9b89b82

Categories
Economy

Negative Interest Rates

#NegativeInterestRates #Recession #Australia The prospect of Deeply Negative Interest Rates is becoming a reality with a highly cashless society. Let’s re-look at a recent IMF blog post about this issue to help raise awareness of every Monetarist dream. References Currency (Restrictions on the Use of Cash) Bill 2019 https://www.treasury.gov.au/consultation/c2019-t395788 SIT Black Money Report: Here are […]

Categories
Political Commentary

Australia’s Retail Recession Grows

#Retail #Recession #Australia Australia’s retail recession continues to grow with a huge David Jones write down in value. Let’s look at some indices and anecdotes about Mainstreet. References David Jones value cut by another $437 million as Australian ‘retail recession’ hits hard https://www.news.com.au/finance/business/retail/david-jones-value-cut-by-another-437-million-as-australian-retail-recession-hits-hard/news-story/5f23466fb5a0a4c45ef658435ae581e5

Categories
AUSPol Economy

Contacting the House of Reps about the Restrictions on the Use of Cash

#AusPOL #HouseofReps #CashLimit What better way to spend a Sunday night than to try and contact every member of the House of Representatives informing them of my concerns with the Draft Currency (Restrictions on the Use of Cash) Bill 2019. Watch and join in as well, let’s flood them with concern so they all pay […]