No Solutions In Sight For Australia's Deep, Long Economic Recession!
12th Nov 2019: Here's Why?
1. Tax Policies: Not working. According to major banks (if they can be believed?), tax refunds are being used to reduce household debts.
2. Monetary Policy Of Slashing Interest Rates: Not working, apart from creating a bigger housing bubble.
3. Retail Sales: worst ever.
4. Iron Ore Price: Once saviour of ScoMo's Budget Surplus, now a thing of the past. Price has crashed from $123/tonne to < $79.
5. Wages Theft: running rampant...as are workers trying to catch-up with little left.
6. Banker's Theft: nothing's changed, post Hayne BRC. Worse than ever. e.g AMP is still ripping-off the dead! e.g. Westpac's highly profitable money laundering market is under ASIC challenge!
7. Utility Prices: running riot. e.g. power bills.
8. Trust-n-Confidence: getting trashed by day.
Summary: Poor, being vast majority plus also of spenders, getting poorer. Fiscal & Monetary policies not stimulating economic activity.
Monthly economic data only confirms what people with on the ground already know: life is getting a lot lot worse.
PS: Fool's Gold: ASX...
