Anecdotes aside, the savings rate in aus is still well above pre covid and might be well into 2024 before its depleted. Some retail is already downgrading, but services spending is holding up. everything will bite eventually, how long is the question though?
I'm convinced credit use will rebound to 2019 levels and beyond over the next couple of years, people will borrow to maintin consumption until they can no longer. Happened before and it will happen again.
I also think the current left wing federal gov has its hands tied, there is nothing more than it wants but to spend its commodity surplus, but inflation is preventing it. So the helicopter is well and truly on the landing pad for now.
Anecdotes aside, the savings rate in aus is still well above pre...
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