The Brains Trust - 2024, page-1452

My observations....quite a few restaurants/cafes closing (Adelaide/Sydney), we noticed during our recent visit to Sydney that Uber rates were 25% cheaper and no wait times compared with earlier in the year
(?more drivers in second jobs combined with more people using public transport or simply not going out), definite increase in commercial premises 'For Lease' signs.
Commercial agent I deal with tells of his clients noting lower sales in vehicles and mattresses. Hair dressers closing up and working from home. But I still see women in the nail shops...where do you draw the line with cost of vanity maintenance??
My fave restaurant which used to be booked out 4 weeks in advance had spare tables last Saturday night.
Apparently retail sales were reported to be up recently, but most of it was related to recent heavy discounting.

It's starting to bite. Lets see what the RBA thinks at their next meeting, not til Aug 5

Still think we will dodge a recession. It has been 25 years since our last recession and it would not surprise me if Australia continues to be recession-proof (barring black swan event) for a further extended period. Why....low population with high-value migrants knocking at the door, our abundance of food, energy, materials and critical minerals, and a relatively relaxed fiscal policy. Electrification of the world will benefit Australia immensely and we are in the early stages.
The boomers have not stopped spending and they will continue to spend until they are very old or dead. And then there is the inheritance which Generation X will also continue to spend because they are already doing ok with asset accumulation.
I'm afraid the Millennials will have to continue to be patient, and hard graft will be required . Unfortunately, home ownership continues to look a long way off for them, but at least they will be comfortable in their wait.

So go smoke a joint and lie down on the back lawn and watch the clouds go by...all is (mostly) well.