run a small business that supplies both other business' and direct to customers.
It amazes me that "official" data is so far behind reality.
there are 3 main reasons why they got it wrong
Rudd/Gillard threw money at anyone and everyone during GFC, this not only ruined many years of good management but creaqted a false sense of security for the economy.
Of course we have all seen where some threw hot water services at clubs and caravan parks that didn't need them, so some people had plenty of money to splash as a result.
I did well for a while when people got handouts.
So the reserve increased rates before the rest of the world and instead of waiting they kept increasing, too soon and too far
this was made worse by the greedy banks by increasing rates outside the reserve movements, and of course the weak govt for not putting a stop to this, or taking other measures to stop it, they cant stop the banks you say??
well they could impose a super tax as they have with miners, I mean the banks cry pooor and slug home owners etc, those can cannot afford it, and then continue to record record profit after record profit.
So if the govt can slug miners, make a threat if the banks move outside the reserve they will impose a super tax bet that would change their thinking, and also if they try and incrase fees as an alternative,
This govt is weak, and have no confidence the opposition would do any better.
Housing is overheated, it is not building products, it is land, so solution is allow more sub dividing, now I own land but cannot sub divide, mind you if a certain local bought the land they could do it in no time. It is a scam.
more sub division would offer more options and lower prices. yes it would mean work for the govt, which of course they don't want, they would rather sit and do reports.
the reserve should go out and look at small business, they make up by far the biggest part of the economy and emply more peolple by a long way.
