november interest rate thread

[keithj]

I would say that it is leading. As people have fewer hours at first they spend as is, then when the credit cards come in, they tighten the belts. Until we see stats saying hours are returning then there has to be less cash.

Bit of a moot point now.... unemployment for Sept (ABS 6202.0) is steady (against all expectations), full time employment is up by 35K, part time up by 5K, and Aggregate monthly hours worked increased by 13.4 million hours to 1,515.4 million hours.

I guess that is where I see things different, so work with me.....

All that is a 'should be' sort of Q , I'm more of a 'what is' & 'what is likely to happen' sort of person.

Cheers Keith

 

[Peter 14.7]

Bit of a moot point now.... unemployment for Sept (ABS 6202.0) is steady (against all expectations), full time employment is up by 35K, part time up by 5K, and Aggregate monthly hours worked increased by 13.4 million hours to 1,515.4 million hours.

All that is a 'should be' sort of Q , I'm more of a 'what is' & 'what is likely to happen' sort of person.

Cheers Keith

Keith, I concede both points, touche!

It seems the recession was just bad dream and it is time to buy a new sports car!

Peter

 

[TheAnalyst]

I believe the Government stimlus package has caused the problem and I do not know why the inflation rate is not high --- given that we have seen all prices are up - food, clothing, rates, utilities, new cars ... apart from petrol which is steady because of high $. Is ABS simply producing some farce figures?

We only have 20m people and the government gave aways too much cash - that is why Harvey Norman, David Jones, their share went up too much. It does not seem to be we are in GFC. I believe RBA was quite right this time to cool down the market. So many people could not afford to buy a house but now bought a house. I would see at least another 0.25% by the end of year.

 

[JulieW]

Nation Building: New school halls but few new schools. Where are the snowy schemes? Diverting rivers? drought- proofing food bowls? Improved rail, roads and ports?

So true. I see that the Vic Govt is planning to start building Trams again - 10 over next 12 months apparently. In Europe they'd make these 10 in a month and a half. Difference is locally made means jobs and more suited to the local market - not to mention improving the 'public' transport network.

Increasing consumption does not make us stronger.

Found the news link for anyone interested in the actual figures and so on.
http://www.theage.com.au/national/built-to-last-20091014-gxg4.html