Those job losses and belt tightening will eventually lead to...

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nippy

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18/05/24

08:15

Post #: 73889742
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Originally posted by happydayz: ↑

No government in power would or could stop mining in Australia, it only changes are the number of operators, Companies like BHP will be the only ones standing in future, large bemouths, No more room for small starting out miners anymore. And who will own BHP in future anyway?

if Australia was to stop mining all together then the political parties would fail, and Australia would fail and in a short period of time Australia would probably go into a recession, And poverty would be more common than what we are seeing now, which i think will happen anyway, the indicators are not changing no matter how much the spinners are trying to sell it, saying that inflation will be over by the end of the year and interest rates will come down is just not true, it's about as true as saying the price of houses will come down next month.

I have a friend who is in business who asked me when i thought this whole small business failures would stop and Australia would go back to lower interest rates.

I said Derrick your scaring me with dangerous questions like that. Just drink your coffee whilst you can still make it for yourself, and some people still buy it from your cafe.

That's the problem he said they have stopped buying it, and i can't stay in business for too much longer, i said well that's one of the ways inflation comes down, you have to stop demand so you have an over supply and lack of demand drives prices down. people can't afford little luxuries anymore, they have to pay their mortgages and so the mortgage payments win out over the coffee.

And he said yeah but i will be without a job, and i said yes that's the result of spiraling out of control inflation, all the people pay in some way or another, the small people have to pay for the benefit of the whole. He has managed to get a job working for someone now, but he told me he is not a happy person at the moment.

I said no one is mate your not alone.

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Those job losses and belt tightening will eventually lead to your statement " it's about as true as saying the price of houses will come down next month." coming to fruition.

Those that can make payments to stay housed will you are correct in that part but when sufficient people lose their jobs the currents rents won't get paid to a growing percentage of landlords. The auction attendances will dwindle and the prices will come down.
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