Hello all this is so emotive. The bulls are aggressive now and posting a number of post in a row. The bears talking down their investment position and reality is upsetting for you.
The unemployment today is a farce like GDP if you look into it. We lost 8,800 jobs last month and 52,000 people gave up looking for work. How many had their hours reduced? The ABS rings 29,000 households, schools and what ever - some 0.33% of Australians according to them and then multiplies the figure. The bulk of the unemployed are not included.
GDP is debt funded now like property only it is getting tougher to get a loan and while the banks are funded the next 2 years (maturities pushed out further) they are largely dependent on external funding. Did you guys read Variant "The Unlucky Country"?
Sorry bulls I have to disagree with you. If this upsets you I do understand and want to tell you I gain no pleasure from your distress. I have been warning these things would come to pass. It is deteriorating now which is good for young Australians, bad for banks, leveraged investors, real estate industry, consumption, GDP, builders and associated industry. No joy here in this thread except some great posts IMO.
