Recently, Australia has frequently experienced various crises, including housing crisis, rental crisis, mortgage crisis...
But
All crises
It may not be as serious as it has just been exposed!
This is not only related to the overall economic development of Australia in the future, but also to the normal life of many people.
To be more serious,
Probably relevant for everyone!
75% of Australian listed companies
All are at risk of bankruptcy
Today, Australian media reported a frightening news:
Companies listed on the Australian Securities Exchange,
75% of companies are at risk of bankruptcy!
This is a listed company in Australia...
75% of them are in a bad state!
To some extent, this also reflects the underlying real economic situation in Australia.
A new report released by stock doctor, a financial market research firm, on Thursday pointed out that in addition to 75% of companies at risk of failure, among all companies open to public shareholders,
There are 77.8% businesses
Does not meet the so-called economic health standards!
This means that most of the ASX-listed companies are in a state of early warning, brink or financial distress.
Tim Lincoln, co-founder of Stock Doctor, said: "If investors are attracted to these businesses, they can get into a nightmare. ”
In fact, Australian stocks attract a lot of parent investors and self-managed super funds.
These companies are not performing well,
For many families and investment companies,
It's a catastrophic impact!
Let's look at another data.
20 ASX-listed companies went bankrupt in the past year,
And in the same period before that,
Only eight companies went bankrupt.
The most recent corporate bankruptcy case is Halo Food Co, which just declared bankruptcy on Friday.
Also recently closed were some very good businesses in the public eye, including Australian fintech companies and Buy Now Pay company Open Pay, news of its collapse shocked users in Australia and the rest of the world.
bankrupt enterprises,
Most are startups and tech companies,
Their situation is unexpectedly difficult!
Due to the current economic situation, the construction, retail, hospitality and manufacturing industries are also under great pressure.
Companies including the likes of construction giant Porter Davis couldn't hold on.
This is also the most real situation for Australian businesses...
Today's large companies are not immune to the stock market downturn, especially in an inflationary environment with high interest rates.
Experts singled out companies whose situations are worth exploring.
These companies include financial services software company Iress (IRE), global packaging company Amcor (AMC), pension provider Link Administration (LNK), Star Entertainment Group (SGR) and retailer City Chics Collective (CCX).
Other large companies in poor shape include Block (formerly Afterpay), gasoline retailer Ampol (ALD), AGL Energy and real estate company Domain Holdings (DHG).
If the wave of bankruptcies does appear, it is really unimaginable how big the impact of these large companies will have on the Australian economy.
It may even cause a serious economic crisis to break out in Australia!
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If there is a wave of closures
Will the wave of layoffs be far away?
When the wave of public company bankruptcies occurs, the possibility of an economic crisis is only the beginning.
After that, a large number of employees were laid off...
The company is gone, and how can the employees have jobs.
Today, Australia's unemployment rate is still at a low point, everything seems to be good, and it has just ushered in a salary increase.
But the potential threat is already growing!
It seems that Australia still lacks labor, and it is not difficult to find a job, but everything is based on the fact that economic problems have not yet happened.
Why did the RBA choose to stop raising interest rates rather than let inflation fall directly to between 2% and 3% of the target range overnight?
More for the sake of protecting the Australian economy!
If consumption continues to be curbed, the Australian economy will not be able to circulate, and more businesses will have a hard time surviving.
Even so, Australia's official cash rate is still at a high of 4.1%.
The pressure on the population has not decreased much!
Once more companies can't hold on, the number of layoffs increases, and people have to face high mortgages in the face of unstable income.
What are the consequences?
Many families may experience a supply cut,
The next step is that the property is forced to be auctioned...
The increase in compulsory auctions of properties is bound to impact the real estate market, which is now struggling to recover, and the real estate market, which is still struggling to recover, will also begin to be turbulent.
If more businesses really close down and more properties are forced to sell, how serious will Australia's economic situation be?
In such an environment, ordinary talents are the group that is most affected, and who can be left alone?
At worst, if it really caused a financial crisis, it would really be a huge harm to everyone!
Having just experienced the impact of the epidemic, the Australian economy has not recovered so far, how can it withstand the emerging economic problems...
It can only be said that this crisis that has just been exposed,
It's really about everyone...