Gestalt said...i work in the pointy end of the building sector and i can honestly say that there ain't no money moving (anywhere). banks have shut up shop regardles of what the government is saying. unless something changes the majority of us better hang on to our hats.

So:
A) A good time to own real estate, there's already undersupply and it's only going to get worse
or
B) Unemployment is about to go up, as will delinquent mortgages
Also, If you look a few years ahead, about 5, there will be a lot of older people leaving the workforce, much more than joining it. Will be interesting over the next 10-15.
Sometimes I wish for a big, take care of everything, socialist govt. I've got a pile of paper about 30cm high to file tonight, and that's only 12 weeks worth. I throw about 70% out too!
Car insurance, registration, medical insurance, professional indemnity insurance, life insurance, mortgage insurance, home and content insurance, ctp insurance, family tax and and b, child care, child care benefits, dental fees, doctor fees, medicare rebates, split mortgages, GST, GST Returns, BAS statements, PAYG, Superannuation, Body Corp fees, Council Rates... I'm sure I've forgotten most of the pile.
My wife grew up in soviet Russia. Once a month they had to pay a phone bill, mind you they did have to queue.