Certainly negative news feeds on itself, I also note the negative commentary especially on the alternative media sites who are basically saying this is it and we're heading into depression.
Yet many mainstream are only concentrating on the more positive aspects of the economy and are downplaying (whether intentionally or unwittingly) any major negative implications.
Who's right? well only the next few months will tell.
I'm not an avid shopper but I did go down to one of the bigger malls in our area and all I can say it was really crowded with many parting with their credit card balances? People are still spending up big either through ignorance of their own situation or because they have excess disposable credit, they certainly don't have savings?
The reserve bank isn't helping this by keeping interest rates artificially low and they in fact may become our biggest threat by doing this because the bond markets are telling a different story, once catch-up happens it could be a very dramatic realisation on our indebted population.
