Shareswatch Australia

Finally it seems the Reserve Bank of Australia and Treasury have had to accept that the mining boom has peaked or is peaking, which is something I have been talking about on this site for some years.  However the RBA, Treasury and Gillard Government all still appear to be relatively upbeat about the outlook for the Australian economy next year which is surprising,  since I don’t see a lot to be optimistic about as I review the stock market, housing market or a few other economic indicators.

As we approach the end of another year we should not be surprised by the economic turmoil in Europe, the ailing U.S. economy or the rumblings of a major slowdown in the Chinese property market. The signs that all was not well with the global economy have been raised on this humble site going back more than a year. Simply put, borrowing vast sums of money and splashing it around did not fix the global economic imbalances highlighted by the market meltdown in 2008.

Harvey Norman is a retailer of household electrical appliances, personal computers and furniture & fittings with stores in Australia, New
Zealand, Slovenia, Ireland, Singapore and Malaysia. The company started with the opening of a single store in 1982 and was listed on the Australian stock exchange in 1987.

Often economists, journalists and politicians use so much jargon when talking about the current economic situation that is is hard to follow what they are actually trying to say. Economists for example cannot seem to agree on anything except that they are legends in their own minds, journalists try and fumble through economic discussions and politicians simply try and convince us they know what they are talking about. The simple fact is much of the time all three groups talk utter rubbish.