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Are you at all concerned that we're heading for a recession or that our economy is going to take a huge hit?
Answered 4 years ago
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ANSWER
4 years ago
Of course. Anyone who bothers to keep an eye on the economic situation will have expected it - and official 'recession' just means we've met certain criteria. We've been in the shit for some time. DH hasn't even had a pay rise in two years - won't be this year, either.
I admit I feel vindicated against friends & family who've made fun of us for years for for living frugally. We've got enough $$ in the bank if the worst happens. They have massive mortgages and no safety net because they borrowed, spent & assumed high incomes would just appear out of nowhere.
I admit I feel vindicated against friends & family who've made fun of us for years for for living frugally. We've got enough $$ in the bank if the worst happens. They have massive mortgages and no safety net because they borrowed, spent & assumed high incomes would just appear out of nowhere.
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REPLY
4 years ago
Same here!!!! All our friends have been on overseas holidays and paying minimum mortgage while we are sensible and have a decent buffer by paying more on our repayments. All those fake nails and Botox injections won’t help them pay their mortgage!!
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4 years ago
👍
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4 years ago
People are in for a rude
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4 years ago
Shock
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4 years ago
How do you know what your friends are paying and the true story?
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4 years ago
Psychic ^
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4 years ago
I know what they owe & pay on their mortgages because they all whinge to me about it. Constantly. I even ran into someone I hadn't seen in years (the one who literally laughed in my face) & all she did was whinge too! I don't ask, don't want to know, but they tell me anyway.
ANSWER
4 years ago
No coz all the toilet roll hoarders are making a mint seriously though no. No one has money with prices going up and wages staying low. What do they expect.
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4 years ago
The problem isn’t the pay rate (Australian has the highest minimum wage in the world) the problem is so many small businesses being overtaxed, over regulated and on top of that to rent a shop costs you almost as much abs buying a house. Businesses are therefore forced to cut down or limit employees amd work hours.
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4 years ago
The heart of the problem is house prices- it's fucking up the whole economy. No one has money because they're all paying a massive mortgage on owner occupied house or their investment property, or saving for their ridiculous high deposit as a fho. The renters suffer while they pay some of the investors mortgage too. Hardly anyone investing anymore in business small or otherwise because everyone believes house prices will keep going so they just invest in that.
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4 years ago
I think it's both. The high minimum wage and the ridiculous tax rate small businesses have to pay means a lot of local jobs will go overseas.
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4 years ago
It must be very inequitable for businesses. I've friends who own one and pay almost no tax. They claim everything, including personal stuff & get government handouts too (business does VERY well). Furniture, food, travel, Uber Eats. Perhaps it makes a difference the type of business you have?
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4 years ago
The thing is though you so t have to buy a 700k house and have a massive mortgage- but a flat or unit or choose a different suburb and the mortgage become realistic and manageable. But everyone wants everything the biggest and the best. We are happy with our three bedroom home but sister in law took an enormous loan to get her five bedrooms and a pool.
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4 years ago
Oh hello, welcome back. SIL bought a big house... but the point was Missed as usual- her point was where are people in business anymore..when they are focused and following projections of their house prices going up. It messes not only with the economy but the whole country. In a number of forward countries with limits on flipping houses with bigger taxes on selling and protecting renters for many years, not just 12month leases... you don’t see this.
ANSWER
4 years ago
We are in one.
The coronavirus was made by a government to help the economy again.
The coronavirus was made by a government to help the economy again.
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REPLY
4 years ago
How’s will it help the economy?
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4 years ago
Well that didn't go well
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4 years ago
All the governments? It’s a worldwide pandemic.
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4 years ago
🤣🤣🤣 love that ‘well that didnt go well’ comment! Bahahahahha!
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4 years ago
👍
ANSWER
4 years ago
Heading for? We’ve been in a recession for ages
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REPLY
4 years ago
A recession is not a matter of opinion though - it’s an economics term for two consecutive quarters of negative growth - so no we haven’t been in one for ages. There were certainly alarming signs but a recession has a precise definition.
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4 years ago
^ lol. So many of my family and friends have posted “were already IN a recession”
Lol no. Recession isn’t an opinion it’s facts and data.
Lol no. Recession isn’t an opinion it’s facts and data.
REPLY
4 years ago
Personally, it is hard to think we haven’t been in a recession when the only things we have going for us is building houses and digging holes.. resources run out and jobs dry up.. it has been a bandage we have enjoyed for a little too long, technically you are right but depth wise I think you are wrong.
ANSWER
4 years ago
No. I have 600 rolls of toilet paper. I’m prepared for anything.
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4 years ago
🤣
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4 years ago
Where do you store it all?
ANSWER
4 years ago
Where are all the deniers now?
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4 years ago
This answer is perfect for the original coronavirus commenters
ANSWER
4 years ago
No, we can survive a recession now.
Even if I lose half my clients (I will never lose all because of the nature of what I do) and I own the house we live in, and the rental the mortgage is only $180 a week and will be finished in 18 months and the rent is $800.
If shit truely hit the fan I could still easily rent it for $300 cover my costs and then some.
And even if I was t in this position I wouldn’t be worried, nothing I can do to change it
Even if I lose half my clients (I will never lose all because of the nature of what I do) and I own the house we live in, and the rental the mortgage is only $180 a week and will be finished in 18 months and the rent is $800.
If shit truely hit the fan I could still easily rent it for $300 cover my costs and then some.
And even if I was t in this position I wouldn’t be worried, nothing I can do to change it
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REPLY
4 years ago
Hahah your response
REPLY
4 years ago
What type of work do you do
ANSWER
4 years ago
.
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REPLY
4 years ago
^^ agreed
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4 years ago
.
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4 years ago
^I don't think that's a fair assumption
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4 years ago
...!#%@
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4 years ago
Maybe some other time babe ❤
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4 years ago
🐶
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4 years ago
💛
ANSWER
4 years ago
I'm still concerned about the state of the planet we're leaving for our children.
However, I guess if we can't afford to feed our children, it doesn't matter if they burn to death from global warming
However, I guess if we can't afford to feed our children, it doesn't matter if they burn to death from global warming
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REPLY
4 years ago
Lol true
ANSWER
4 years ago
The economy has been in the toilet for a long time but most people were more than happy to stick their head in the sand & pretend it wasn't happening. What shit's me is the government still pretending they were doing a great job - we've made more jobs - you cut full time work so 3 people can work part time & barley afford to live but hey give yourself a pat on the back arsehole. Now they will fully blame the virus & pretend like it was a hunky dory beforehand you watch. I don't trust this government at all. They are lying. Go & buy your supplies people, stock up, look after your families. Do you really trust these jerks with your survival? I sure as hell don't.