‘Revenge’ spending period sees Australians purchasing ‘absolutely everything’

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Australians are spending money on “absolutely everything” through “revenge” spending period, The Motley Fool Chief Investment Officer Scott Phillips says.

“We saw retail sales up over Christmas by seven and a half per cent but the first big retailer to come out

with numbers … was Super Retail,” Mr Phillips told Sky News Australia.“It’s been a really big spending season.”

Source: News Formal (newsformal.com)

 

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Most expenditure is mandatory. Retailers and service providers are raising their prices often by 20%, and home owners aren't affected by interest rates. Worse, it isn't a demand issue but a supply issue. The RBA are cavemen hitting people with sticks to subdue them.

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