Harvey Norman Chairman Gerry Harvey says the economy is being portrayed as something which is 'not strong' and is becoming increasingly weaker every day to the point where Australia will be in a recession.
Harvey Norman Chairman Gerry Harvey said that the economy is being presented as something that is 'not strong'. The economy is getting weaker by the day, to the point where Australia could be in recession. According to Ross Greenwood, Sky Business Editor, Harvey said that in order for Australia to be in a recession, there must be unemployment of 7, 8, 9, 10, and 1%. "At the moment, the economy is quite strong. "Are we going not to face reality?"
Harvey Norman Chairman Gerry Harvey says the economy is being portrayed as something which is 'not strong' and is becoming increasingly weaker every day to the point where Australia will be in a recession.'To have a recession, you've got to have unemployment at 7, 8, 9, 10 per cent, it's nowhere near that,' Mr Harvey told Sky Business Editor Ross Greenwood.
'At the moment the economy out there is quite strong.'Are we going to ignore reality?'
Watch Channel 9 live TV on the internet or mobile device, stream to an internet connected television, and keep up with the latest entertainment from Nine
Read more >>
This was my SkyAus account. Strong for the wealthy, but sucks to the middle and lower classes. Labor government trying to blame previous government, no doubt! !
Mark Chellew, chairman of Downer EDI, resigns
Downer EDI's Chairman Mark Chellew has resigned from the company, following the CEO and CFO out the door. The exits come after Mr Downer admitted to a series of profit downgrades and to errors in the group's financial accounts. Some things never change ! How many bonuses did he, the CEO and CFO receive before the 'errors' were exposed ?
Auditing standards body advertises for chairman
The government is looking for a chairperson of the Auditing and Assurance Standards Board. This position was held by Bill Edge, a former partner at PwC.
RBA's digital $A could be legislated within five years
The chairman of the RBA-backed CBDC steering committee has outlined how an eAUD might work in reality in Australia and a potential timeline. algorand like in Italy. algorand like in Italy.
McIlroy and Hatton among big guns poised for Arnold Palmer shootout
Kurt Kitayama leads heading into the final round of the Arnold Palmer Invitational but big names including Rory McIlroy and Scottie Scheffler are in contention
Rabbitohs overcome early injuries to sink Sharks
The Souths Sydney Rabbitohs proved too strong for Cronulla Sharks in an error-riddled, but entertaining game, claiming a 27-18 win.
What happens next if Australia's economic pain turns into a recession?
Households are under pressure as inflation and rising interest rates squeeze budgets ever tighter. Now there's growing concern Australia is on the cusp of slipping into a recession — and it's not clear if or when the Reserve Bank will step in, writes David Taylor. and more pain on the way I would not be too worried about that. I think the big thing to worry about is the USA debt bubble exploding. That, and the petro dollar losing out to China and Russia. They will do everything possible to make it worse. To collapse the fiat currency and install the cbdc…another spoiler alert from the cookers