S&P/ASX 200 (INDEXASX:XJO) has fallen further into the red by 1.55 pm, down 1.65% to 6772 as retail sales rose at a slower pace than expected in January.
Preliminary retail sales data from the Australian Bureau of Statistics show sales in January rose 0.6% seasonally adjusted, a weaker result than the 2% rise expected.
Is Australia spending our grandchildren’s future? - Dale Gillham
According to Katsua, an independent research firm, the US printed $4.5 trillion dollars in 2020, which represents around 21% of all US dollars printed in the last 30 years.
According to Statista, a company specialising in market and consumer data, the US stimulus packages represent 13.2% of GDP to October 2020, whereas the Australian stimulus packages represent 14% of our GDP while Japan heads the list at a massive 21% of GDP.
In Dale Gillham’s opinion, the US printed too much money following the GFC and it is repeating this behaviour again in the current crisis. The result that is likely to unfold when the next stock market crash does occur is that it will be far worse in the US than what they experienced in early 2020. As for Australia, any market crash in the future is unlikely to be as bad as what the US will suffer, which will be consistent with what occurred during the great depression in 1929 and subsequent depressions in the US.
For now, it is imperative that Australia repeat the good work it did following GFC, which is to get the economy back on track and pay off our debt so we are ready for any inevitable crash in the future. On an individual level, it is also imperative that we prepare for the next challenge by paying down debt and, above all, invest in good assets like shares and property to create income streams independent of our job so we can provide a safety net for ourselves, and our families.
Today’s top gainers on the ASX include Rimfire Pacific Mining N L (ASX:RIM) (+12.50%), Blue Star Helium Ltd (ASX:BNL) (+12.12%), MGC Pharmaceuticals Ltd (ASX:MXC) (+15.79%), Engage:BDR Ltd (ASX:EN1) (20.00%) and Emyria Ltd (ASX:EMD) (10.00%).
Proactive news headlines:
Proactive to host Copper Webinar next Tuesday, February 23, showcasing three ASX-listed companies
Proactive will host a Copper Webinar on Tuesday, February 23, featuring three ASX-listed copper companies set to highlight upcoming plans.
Tietto Minerals PFS could include high-grade starter pit to drive early capital payback: Canaccord Genuity
Tietto Minerals Ltd (ASX:TIE) could be one of the next gold mine builders in West Africa, with Canaccord Genuity predicting the company will release its pre-feasibility study (PFS) for the Abujar Gold Project in Côte d'Ivoire sometime this quarter.
Twenty Seven Co makes rapid progress with gold-silver drilling at Mt Dimer
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Lake Resources demonstrates clean technology path for high purity lithium as it targets Kachi DFS and ESIA this year
Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) (FRA:LK1) has demonstrated a clean technology path for the production of high purity lithium after a successful pilot demonstration plant, with plans for definitive feasibility study (DFS) and environmental and social impact study (ESIA) targeted this year at its flagship Kachi project in Argentina.
Fenix Resources dispatches maiden shipment of Iron Ridge product
Caspin Resources set for busy three months at Yarawindah Brook while preparing for gold exploration at Mount Squires next quarter
Caspin Resources Ltd (ASX:CPN) is set for a busy three months at its Yarawindah Brook Nickel-Copper-Platinum Group Elements (PGE) Project in WA as it prepares for gold exploration at the Mount Squires Project in the second quarter in the Musgrave Province.