50,000 jobless in the building sector, page-5

barbal

Yes those jobs will be a lot of tradies and others like bobcat operators will go bust, I also have been there and Ive watched a couple of downturns unfold but this one has been tampered with by the RBA and the government. There are already in Qld thousands of tradies owed millions and millions from building companies folding and not paying their tradies and other contractors. The Qld premier has vowed to go after these organisations, I dont believe many people believe this will even happen.

If this downturn had been allowed to happen in a normal way it would probably be over by now but the RBA and the government kept cutting rates and the banks went wild lending to everyone and now the RBA is talking more rate cuts. This is just going to make a bad situation even worse.

Some of these things happen because a lot of people dont take notice of what older people are telling them, they want to believe the banks and the government and never the older people who have lived through it and probably lost a lot of money as well.

If you ignore history we are all destined to relive the same mistakes over and over.