In Australia: A trickle of poor consumer sentiment data is turning into an avalanche!
We at Community News have often expressed concerns about world economic conditions. Which is why on occasion our Senior Editor @sirknight has been known to sleep with a 100 ounce Perth Mint silver bar under his pillow and a couple of 1 ounce gold kangaroos pinned to his pjs.
Now it appears that he is not the only Australian with concerns.
News just out today from Business Insider Australia (Sam Jacobs) reveals that consumer confidence is 'down in the dumps.'
The latest ANZ Roy Morgan 'consumer confidence index' has fallen 8% in the month of August - yes you read that right 8%!
Factors contributing to this collapse include:
- Outrageous levels of household debt.
- Ridiculously high energy costs.
- Sky-rocking greenslip prices.
- Next to no wage growth.
- Next-door neighbour getting rich in cryptos; and, the Aussie dollar buying less of them every day.
- Telstra share price in the toilet.
- CBA caught up in money laundering scandal.
- Our politicians being caught up in duel citizenship controversy.
Ok - so a couple of these didn't officially appear in the data, but we at Community News reckon they should have.
You can read more about the survey here -
However, the team at Community News reckon you should just grab yourself a Monster Box of 250 Perth Mint Silver Kangaroos and bury your head in the sand - this is going to get messy.
The Editor
Good advice I reckon. The Silver Kangaroos are a nice coin! The scary thing for me is what happens when the rising interest rates in the US (our owners/overlords) start to put the squeeze on the margins of the "Big 4" and they are forced into raising rates themselves.....at this point our housing bubble pops, the sheeple get foreclosed and start to scream blue murder. Our spineless pollies are likely to respond with populist socialist policies that will probably just make things worse.
Hearing you - worrying yes.
The whole economy is a Ponzi scheme set up to fleece the sheeple. Those beholden to the banks will fair very badly during the next crash. I have learned from what happened in the past and am sitting waiting for the next credit event so I can be on the right side of the trade.
Those who aren't protected from economic desolation will become the new underclass in the years to come.
Gold, Silver and Crypto's all the way. And no debt you can't afford when the market wrestles back control of interest rates from the central banks. Rates will over correct initially and will wipe a vast amount of people out.
Yes SirKnight and loved ones have locked in interest rates where they can and paid off as much debt as they can. First run of defaults and the banks will lift their interest rates so fast to protect their margins that it will make your head spin.
What pisses this Knight off though TP - many Australian's have serious super savings invested in high risk assets which they are unable to touch to pay off the loan on their low risk home. Superannuation really is a double edged sword for society which creates a false economy.
Only those with inflation proof assets will be safe, property won't be one of them. Gold, silver and Bitcoin dude.
The banks will be stealing people's deposits soon enough and private pensions will be nationalised. Most are going to suffer greatly and sadly won't see it coming.
Your assuming that the mint isn't sold out by now?
This is a good point you make Jeff - especially seeing China and India have purchased more gold and silver in the past 6 months than in the previous 12.
Both countries have been on buying sprees for a while. I wonder how much China actually has?
I don't see it easing any time soon either.
Turkey and Russia also buying :)
Knew about Russia, not Turkey though. Is it a big deal if Turkey are buying?
#5 😁😁😁
So would @communitynews recommend buying property right now?
Sounds like I need to follow #steemsilvergold for tips...
No, no. Wait until the inevitable crash. Buy low babe not high. Always.
Anyone know when this crash is happening? Cos Im sick of renting @tremendospercy 😀
If only..............
I don't how the market hasn't crashed yet it's soo over dude.
Hang in there babe x
Cheers babes x
I dont know how it hasnt crashed yet either.
I suppose if it all fails we have a spare house to live in.. granted it means coming back down the mountain but we wont be homeless.
Right on babe, ya gotta have a roof over your head.
I agree with what TP has said Arly - though I do make exception for some country property.
Does Blue Mountains count as country? We have a country Target thats 30 minutes away?
We need this house ASAP its the biggest thing in my way at the moment.
Its house, then start trying for the baby, then getting married in nov next year - venue has been booked since Feb this year, got my dress last year, have drafted save the dates and the invites, its all pretty much ready to go except I'm waiting for the bloody house.
Wouldnt it be awesome if I can withdraw steem to pay for my house?
See our post tonight Arly - just for you!
sir ji, great post communitynews! keep it up! and thanks again for following!
Very interesting post.. thanks for sharing..
Thanks for sharing. Followed!
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