I think that people's hopes of a buoyant Xmas period based upon...

I think that people's hopes of a buoyant Xmas period based upon the wealth effect of housing are just that ......"hopes" The cost of essentials rising as well as all the interest payments that flow to finance these expensive homes eat into discretionary spending in a major way.

Even if there was a pick up in the next 8 weeks, who's to say Myer will benefit from it. Anyone listening to Bernie Brooks optimistic assessment of things needs their head read. He has presided over one of the worst retail disaster stories in living memory. I am surprised he still has his job frankly