the housing industry is happy... the rate cut is for the retailers, they are the ones screaming, they have had dismal sales all year, even though they put on specials, had sales every weekend...
swan has no idea....the businesses are hurting, they are the biggest employers.... the hospitality industry is hurting... they need the rate cut....but some will not survive...
most rely on the spring, summer, then the xmas period, to give them the big turnover and profits for the year.... the rest of the year, they just survive...
the combination of glen stevens and swan in charge of th economy has been an absolute disaster....neither have a clue about business...
that is probably why Bill Evans of Westpac, says they will have to cut rates all next year... I watched a lot of hospitality and retail businesses close down in Oct/ Nov of 2008.....
The hospitality and retail businesses rely on the spring racing season to show them what the next 4 months will be like...when the September figures were dismal, they knew the summer and xmas sales would be a disaster...
I have not looked, or seen the latest figures, but I very much doubt they were gangbusters.. so a repeat of 2008 is on the cards
the housing figures are fine....rates are low, and most expect thats about the best it will be.... hanging onto a job is another subject... lets see what the morons do tomorrow
