And strewth, they aren't wrong abut that!
Alas, not so!
It never ceases to amaze how many people are openly hoping for a harsh recession and rocketing unemployment. You only have to look at the gloating comments on the articles about bankruptcies and foreclosures in Gladstone and Mackay to see what I mean. Peculiar world.
Are we really getting poorer?
The answer is no, because households are not paid in cyclical commodity earnings.
Wages growth has been subdued, this is indeed true, but wages growth in 2015 was still fully double the cost of living increase for employee households, and slower wages growth can be a positive to the extent that it helps to keep unemployment down.
What about household wealth? We'll have to wait until later in the month for the December 2015 quarter data, but the most recently available figures show household net worth hitting a record $8.49 trillion as at September 2015.
The figures show aggregate household wealth at record highs, so households are demonstrably not getting poorer.
Of course not every household is better off, that's a given, while unemployment and under-employment is still quite elevated, if not as high as had previously been forecast.
The brighter news for national income is that the iron ore price has rebounded by more than +37 per cent since December 11, while the oil price is up by fully +30 per cent in only three weeks. Even the lowly copper spot briefly glanced US$2.20/lb overnight (not before time, I might add!).
Local share markets also touched a two-month high today, so any such hits to superannuation balances appear likely to be only short lived.