Just another article, where the fundamentals and demographics are totally ignored. The RBA and former Treasurers were expecting much more business activity with the interest rate cuts that have already occurred. The budget surplus was an early casualty! Not to mentioned those who "pinned their colours to the mast" to satisfy this noble undertaking.
Like many countries in the world we had a massive run up in property prices. Whist in other countries a severe correction occurred, this has not happened here. Each year the percentage of people in the working population spending a large part of their incomes on mortgages and rent increases. This is like a vacuum for removing discretionary spending from the rest of the economy. The main driver for online shopping is cost, particularly if household budgets are under pressure. Recent articles about small businesses closing and citing rising rents among other things, shows that commercial landlords don't understand either. IMO these stores will never re-open or open briefly to a soon to fail new business.
The second part of the equation is the tsunami of retirees about to hit the government coffers.
Fortunately, the media will prepare you for some truths and good old Aussie boganomics. Last nights efforts from the free media. Active seniors, booming caravan sales. Kids raiding the refrigerator, can't afford to move out but the reporters usually don't bother asking them why.
