The state of the economy at the street level

[farmerge]

A vain pursuit for career hustlers. You need to be a long term bludger to achieve such feats. Can't have your cake and eat it too.

View attachment 208820

P.S are your clients Mornington Peninsula types on stud farms?

The cake tastes great especially the type with a good coating of icing on the top, and when that is finished a generous serve of cheesecake.

 

[Dona Ferentes]

. Here in Australia, superannuation and housing dwarf every other asset class and the economy.

Residential housing is now worth $11.7 trillion, superannuation totals $4.3 trillion, while annual GDP amounts to just $2.6 trillion.


Source: Cotality, World Bank, Firstlinks.

In other words, housing is 4.5x larger than annual GDP, and housing and super combined is 6.2x the size of the economy.

That makes them too big to fail. Consider this: if super and housing fell in value by a combined 8%, which is not even a correction in market terms, that would equate to six months’ worth of GDP.

- Victor Shvets

 

[qldfrog]

. Here in Australia, superannuation and housing dwarf every other asset class and the economy.

Residential housing is now worth $11.7 trillion, superannuation totals $4.3 trillion, while annual GDP amounts to just $2.6 trillion.

View attachment 209034
Source: Cotality, World Bank, Firstlinks.

In other words, housing is 4.5x larger than annual GDP, and housing and super combined is 6.2x the size of the economy.

That makes them too big to fail. Consider this: if super and housing fell in value by a combined 8%, which is not even a correction in market terms, that would equate to six months’ worth of GDP.

- Victor Shvets

stunning figures
too big to fail but who can stop the market from falling 15% in a mini crash?
anyone? not really

 

[divs4ever]

That makes them too big to fail.

but they CAN fail , but i bet the government ( taxpayers ) would be asked to fund a rescue package first

i hear that locally ( in the village ) land ( with some sort of structure on it ) has doubled in the last 12 months ( no town water, no sewerage , and about half the roads with bitumen .. but there is electricity and wireless networks available )

sheds and caravans are fairly popular ( as are old buses )

 

[TimeISmoney]

You know things are getting bad when you see things like this.

 

[JohnDe]

You know things are getting bad when you see things like this.

View attachment 209256

One of my customers called me a few weeks ago to cancel his appointment, because he was made homeless. And then called me back last week and re-booked. that is the first time in over 30 years of answering business calls that I have had a call like that.

 

[sptrawler]

The housing issue, is only going to get bigger, as Paul Keating said in the early 1990's "the recession we had to have", instead this time we have avoided it by borrowing money to support the housing and immigration.

Will it end well, only time will tell, but if the chase for a renewable future ends badly and it doesn't supply the cheap reliable energy, well it will all turn very ugly very quickly IMO.

Let's hope for the best, because I don't think we have any wriggle room to allow for the worst.

If it all comes together and works out well, it will be an amazing feat and the Government will go down as one of the best in history IMO.

 

[SirRumpole]

If it all comes together and works out well, it will be an amazing feat and the Government will go down as one of the best in history IMO.

Thing is , it will be several governments down the track before the grid is resolved and all of them will claim credit or deflect the blame, and the public will be lost in the bull.... once again.