In Australia: A trickle of poor consumer sentiment data is turning into an avalanche!

We at Community News have often expressed concerns about world economic conditions. Which is why on occasion our Senior Editor Hive account@sirknight has been known to sleep with a 100 ounce Perth Mint silver bar under his pillow and a couple of 1 ounce gold kangaroos pinned to his pjs.

Now it appears that he is not the only Australian with concerns.

News just out today from Business Insider Australia (Sam Jacobs) reveals that consumer confidence is 'down in the dumps.'

The latest ANZ Roy Morgan 'consumer confidence index' has fallen 8% in the month of August - yes you read that right 8%!

Factors contributing to this collapse include:

1. Outrageous levels of household debt.
2. Ridiculously high energy costs.
3. Sky-rocking greenslip prices.
4. Next to no wage growth.
5. Next-door neighbour getting rich in cryptos; and, the Aussie dollar buying less of them every day.
6. Telstra share price in the toilet.
7. CBA caught up in money laundering scandal.
8. Our politicians being caught up in duel citizenship controversy.

Ok - so a couple of these didn't officially appear in the data, but we at Community News reckon they should have.

You can read more about the survey here -

https://www.businessinsider.com.au/the-trickle-of-poor-consumer-sentiment-data-in-australia-is-now-turning-into-an-avalanche-2017-8

However, the team at Community News reckon you should just grab yourself a Monster Box of 250 Perth Mint Silver Kangaroos and bury your head in the sand - this is going to get messy.

The Editor