Good times but hardly normal

Can any of you Buggers see the enormous dangers lurking on the front page of today’s weekend edition of The Sydney Morning Herald?

No, it’s not the paper’s splash that’s tipping a monthly mortgage repayment hike of $1000, although that is going to be terrible news for many who have used low interest rates to mortgage themselves to the max to buy McMansions. But those looming repayment hikes are just one of the factors behind the dangers we’ll soon disclose.

And, no, it’s not the danger to Peter FitzSimons from yet another Harvey Norman wraparound that’s going to be cast aside with poor Peter’s inside back-page column for the umpteenth time over recent years.

It’s more what that mortgage repayment hike, along with all sorts of other cost-of-living increases around electricity, gas and $14 for a cos lettuce, portend for the SMH down the track and, yes, it does involve that dreadful Gerry Harvey’s retail chain.

As 2022 unfolds, all those zillions of dollars retained by Australians and kept in their bank accounts or under their mattresses during COVID are going to be whittled away as they get out and about more, catch a new strain of COVID on a overseas cruise or are simply forced to stay at home shaking their heads as they try to pay their household bills.

Over recent years, any of those cash reserves that Australians have reluctantly spent to cheer themselves in dying times have been with firms like the dreadful Gerry Harvey’s. And that’s allowed the dreadful Gerry Harvey to take endless wraparounds and dozens of inside pages in mastheads such as the SMH.

Sooner or later, those enormous ad spends will be pared back significantly and the true financial state of this Nine Entertainment Co. masthead and its sister Sunday will be painfully exposed.

It saddens the MGH to ponder whether, at the very least, the Monday to Friday editions of the SMH will be no more by year’s end. Or even sooner.