Came out of the pandemic in an OK state due in part to short lockdowns for most states and the unusually 'generous' government payments. Now with the two most populated states in an extended lockdown, the hospitality/ tourism and retail (outside of the big boys) is basically on its knees, with full time employment basically flat.
Take housing out of the equation and nothing has filled me with confidence that the economy is 'roaring' back.
Even pre pandemic, wages were flat, cost of living was going through the roof and we were basically flooding the economy with immigration and new housing to prop us up.
Anyone else feeling that we're finally heading for the recession and economic pain in the next 6-12 months that we were probably due to have pre-covid. Not even sure another surge in demand from China for Iron ore will save our bacon this time.
Anyone else share this sentiment?
Take housing out of the equation and nothing has filled me with confidence that the economy is 'roaring' back.
Even pre pandemic, wages were flat, cost of living was going through the roof and we were basically flooding the economy with immigration and new housing to prop us up.
Anyone else feeling that we're finally heading for the recession and economic pain in the next 6-12 months that we were probably due to have pre-covid. Not even sure another surge in demand from China for Iron ore will save our bacon this time.
Anyone else share this sentiment?