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People & Money

Our website, Financial Demographics, focuses on changes in people and financial issues which directly effect people. In Australia people are having more babies (births up 7.3% in 2007), still pretty healthy and living longer (but getting more obese and unfit) and employment is still high. Financially Australians have ridden a wealth wave from China's thirst for our minerals and energy and we have bought dirt cheap gadgets and clothes in the return ballast. But like a southerly buster on a summer day, the finances are all about to change and we will be plotting the people effects over 2009 and 2010 which will be dramatic.

Like Captain Cook's search for the great south land, we are in uncharted waters. The stock market is a barometer of future economic decline. The 12 months Australian stock market return to October 2008 (-44.3%) is worse than any time back to 1875 when our Australian stockmarket statistics began. We now have to wait to see whether unemployment will be worse than any previous depression of recession. Unemployment rate is currently 4.4% - in the early 1990's recession it reached 11.8%, in the early 1980's recession it reached 11.6% and in the Great depression 29.0% in 1932.

Posted Monday, 26 January 2009

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