Doom and Gloom

[Guest BurgessFamily]

A measure of consumer confidence in South Australia is at its lowest level in 17 years.

 

The Bank SA state monitor puts the confidence level just below a 100-point threshold.

 

 

It indicates pessimism among consumers outranks optimism for the first time since the bank began its surveys in 1997.

 

As well, only 6 per cent of respondents aged 18 to 24 are confident of finding another job.

 

at least no-one died.

 

http://www.abc.net.au/news/2014-06-25/sa-consumer-confidence-record-low-bank-sa-state-monitor/5548232?section=sa

[zebedee]

Don't worry - Tom says everything is fine, and we all know how truthful he was on the Seaford Line Upgrade.....*cough*

[sduffy]

Those make for worrying stats.

 

In addition, is also supports a lot of the posts on here lately.The youth stats in particular are cause for concern,particularly having a 19yr old.

 

Sue

[adelaidenow]

Luckily all the 18-24 year olds who were asked had a job already.

[guspjmh]

This is the first time consumer confidence has been net negative in SA since the GFC I believe. Compare this to the UK, where It's been net negative since 2007 and people there are jubilant that latest figures are up to -3 (which is about the same as these 'terrible' SA figures).

 

It's all relative - but considering SA is probably the weakest sibling in Australia and it's only beginning to see net negatives (about -3.8), then these figures show that things here are just starting to look how they have back home for ages.

[Guest Guest14361]

It's a bit gloomy work wise, talking to a couple of casuals who work for us during the summer are finding it hard to find work at the moment

 

nobby

[Jessica Berry]

Sometimes doom and gloom can have its benefits! Our mortgage rate is now at the lowest it has ever been (4.95%) in the 6 years we have had a mortgage in Adelaide. At one point back in 2008 our rate was as high as 9.14%. Makes a massive difference.

[Guest Guest14361]

That's so true, it helps to pay for living in Australia's highest taxing state

 

nobby

[Guest kobi]

at least no-one died.

http://www.abc.net.au/news/2014-06-25/sa-consumer-confidence-record-low-bank-sa-state-monitor/5548232?section=sa

 

For me, the most significant part of your post i've highlighted in bold.

 

Death vs consumer confidence... yep.. I know where my priorities lie.

[Guest BurgessFamily]

State government needs to put its hand in it's pocket and boost the economy. Needs to do this before Holden etc... start laying off.

[Guest Guest75]

State government needs to put its hand in it's pocket and boost the economy. Needs to do this before Holden etc... start laying off.

 

Thetrouble is that both State and Federal Government have been putting their hands into their public coffer pockets for years to build some impressive projects.

 

That money has to come from somwwhere.

[guspjmh]

Thetrouble is that both State and Federal Government have been putting their hands into their public coffer pockets for years to build some impressive projects.

 

That money has to come from somwwhere.

 

 

Australia's debt to GDP ratio is the envy of the developed world. Wise investment now could well stave off a prolonged period of stagnation.