the figures are coming out again....just as I predicted.... retail spending is down again....even after all the massive sales the retailers have used to inspire us to part with our money... home loan defaults are on par with 2007/08 when interest rates were jacked up to the highest levels in a decade....for no other reason then this incompetent govt had no idea...and repeated the error again this year...
Suncorp reported 22 million in home loan defaults...and 83 million in business lending defaults...big business lending defaults are 355 million year to date..
all above was before the news of the mining tax and wiping out any future from our only source of income...from mining
it was prior to the news of Greece defaulting... with the PIIGS countries about to default... and then add to the wiping out of billions of super money from the nervous stock market...
over in the good ole US of A....in the gamblers den, some kid hits the button on billions, and all those auto sells go into a massive meltdown, wiping out billions of dollars in stocks.... can we expect some more devaluation of your top 50 companies stocks, or more importantly the wonderful banks ponzi scheme....with a banking super profits tax of 40% plus...of course we can... note I have not mentioned the penny dreadfuls so far.... this 2010 crashing, will make the old GFC look like a minnow... and Stevens has egg all over his face..... the May budget bad news will just add further destruction to the 'rose coloured glasses brigades' asset building plans
Welcome to the real world of finance...but his time its your own govt, which caused the most destruction,the most stealth, whilst you were watching with your eyes wide open.
