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23-07-2013, 08:39 AM | #91 | |||
Regular Member
Join Date: Oct 2008
Location: Perth
Posts: 267
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Anyone who thinks that a change of Govt. will fix Australia's woes is delusional (or at least gullible). Australia's economic trajectory over the coming decade is one that will be driven by exports. As such we probably will maintain positive growth rates of ~ 3%. Yay, recession avoided - everything is going to be okay! Right?! No. Exports will largely replace what was investment and it is the latter that generates jobs and employment growth. So no technical recession but many people will be feeling the pain. It may not be in the form of mass unemployment but already we are seeing increasing transition to part-time work, new contracts for same job for less money, etc. It probably would not be so much of a problem if Australians were not so indebted. The best way for Australia to proceed is to enhance its productive capacity through infrastructure investment. The Govt should have no reservations about borrowing to do this - if well targeted and planned the debt will be self-liquidating. A responsible govt will also offset this by instituting responsible savings measures and look to windback tax rorts (like the recent FBT changes) and reduce middle and upper-class welfare. The Federal budget went into structural deficit in the mid 00's and this CANNOT be sustained I cannot avoid saying, perhaps to my detriment, that in the last month one single political party appears to have acknowledged the challenges we will face. This party also has a major infrastructure project in the works but which is at risk of being white-anted. This party also has a history of undertaking structural economic reforms. The performance of this party in recent times has NOT been impressive however the alternative has provided nothing of substance in terms of policy, contradicts itself and, true to form, defends it's mates with their grotty snouts in the trough rather than YOU the taxpayer. |
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23-07-2013, 09:42 AM | #92 | |||
IWCMOGTVM Club Supporter
Join Date: Sep 2005
Location: Northern Suburbs Melbourne
Posts: 17,799
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If the Libs win the election things aren't gonna change the slowdown in the economy. It is how they react to try help things along until things pick up.
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Daniel |
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23-07-2013, 10:28 AM | #93 | ||
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Join Date: Oct 2008
Location: Perth
Posts: 267
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I was having a discussion with a colleague about the economic situation in Aus.
He, like several of my colleagues, is Irish and are seeking economic asylum (at least temporarily). Every single one of them says the same thing essentially: Australia (at least WA) at present is just like Ireland before it's massive bust. I wonder if anyone else has come across anything similar? Last edited by Dr Jekkyl; 23-07-2013 at 10:29 AM. Reason: Unacceptably poor grammar! |
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23-07-2013, 10:51 AM | #94 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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You definitely don't live in the Australia the rest of us live in. |
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23-07-2013, 10:52 AM | #95 | ||
Petro-sexual
Join Date: Dec 2004
Location: Melbourne
Posts: 4,527
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I've had the feeling, just through watching listening and taking on board what has been happening around the country over the last 5-7 years, that things are not in a good way. But I don't have the economic knowledge to explain the process.
I'd like to see whichever gov buy back our primary services (power, phone, water, etc). If there isn't a need to meet the demands of shareholders, the companies can be run with a lower budget, and it is a constant stream of income for them which will only grow with population. Where the money would come from is the problem though. Printing money probably wouldn't help, but it might in the long run. |
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23-07-2013, 11:22 AM | #96 | |||
The 'Stihl' Man
Join Date: Jan 2005
Location: TAS
Posts: 27,584
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I most certainly am not an expert in the field, but I work for one of the biggest resources companies in the country and it it wasnt for having LNG at the moment (that wont last for ever) then we would be in a world of pain. The annoy thing for me is that everyone is happy to have massive profits when times are good, but they crap themselves when things go down and always apply kneejerk reactions. The main issue is Greed, we need to be better at sustainable growth and not always chasing mega bucks...but when the cash is there try telling shareholders that.Its certainly a time for looking at your costs and seeing how badly you were being ripped off when things were good. But the saying I like to use is that when your so busy being busy it doesnt matter.
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23-07-2013, 11:35 AM | #97 | |||
Excessive Fuel Ingestion
Join Date: Dec 2004
Location: Central Queensland Coast
Posts: 1,586
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Quote:
He keeps telling me that Australia needs to have a recession, but I don't understand it. Are there any economic geniuses here that would care to elaborate for me, the uneducated? I only know how to pull stuff to bits & put it back together, mostly... Ed
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23-07-2013, 11:45 AM | #98 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,272
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Was talking to my dad last night he works for a big drainage company in Vic operating big excavators.....For about 5 years they had been flat out doing all the drainage in the Northern Melbourne estates that have been popping up left right and centre and they 'were' making good money in the boom times... (Soon to be Ghost towns I believe).....
Lately his bosses have been telling him there is NO work ahead for all the operaters and the only job going is two hours away in Geelong for him. They have cut back on uniforms, no overtime, and no servicing of equipment (Ouch). Bosses told him they do have one local job on but payment for the job will only be enough to cover the fuel costs for running the machinery..... They're working for cost! |
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23-07-2013, 11:50 AM | #99 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 12,077
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Keep it civil guys
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23-07-2013, 11:52 AM | #100 | |||
bitch lasagne
Join Date: Aug 2012
Location: Sonova Beach
Posts: 15,110
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23-07-2013, 11:58 AM | #101 | |||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,272
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Quote:
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23-07-2013, 12:16 PM | #102 | ||
Excessive Fuel Ingestion
Join Date: Dec 2004
Location: Central Queensland Coast
Posts: 1,586
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Thanks Loud Noises, that makes sense to me.
With the prices of real estate here already, I just don't understand how anyone working a normal job is ever going to pay their properties off... Something will have to give sooner or later. Ed
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23-07-2013, 12:30 PM | #103 | |||
bitch lasagne
Join Date: Aug 2012
Location: Sonova Beach
Posts: 15,110
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Unless drastic action is taken, the monetization of debt will be the cause of the unraveling of the economic systems of the world, not only because the process in and of itself is sheer insanity, the derivatives markets have it as a foundation to their existence. |
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23-07-2013, 12:30 PM | #104 | |||
YE-US! Wait. I don't know
Join Date: May 2010
Location: in the turkey...
Posts: 940
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"Well. Apparently you're looking for a lion-snake named Harriet." Daily: '06 BF XL Ute,Shockwave Blue, Column Shift, eGas BEAST.
Gone: 77 HZ panel van, 253, column. The Weekender: '06 BF Pursuit, Toxic, lumpy af |
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23-07-2013, 12:36 PM | #105 | ||
Regular Member
Join Date: Oct 2008
Location: Perth
Posts: 267
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Yet another good read from the Macrobusiness crew.
"Nobody could have seen it coming!" Pfft. Yeah righto. Not acceptable! Australia deserves better, it just has to wake up and realise this! REAL reform, and NOW! Not pamphlets. Last edited by flappist; 23-07-2013 at 08:45 PM. Reason: swear filter |
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23-07-2013, 12:49 PM | #106 | |||
Regular Member
Join Date: Oct 2008
Location: Perth
Posts: 267
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Quote:
Australian banks are over-exposed (see pic) to any downturn in property and given the limited capacity of Australians to take on even more debt coupled with impending economic headwinds it in insensible that there won't be a downturn at least in real terms. Isn't conventional wisdom such that one should diversify their investments? I suppose by diversify they mean buy shares in all of the big 4 rather than 1?? |
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23-07-2013, 06:53 PM | #108 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,272
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Gees that shut everyone up...... Maybe no ones brave enough to face the truth!
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23-07-2013, 08:42 PM | #109 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 12,077
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No actually it got the thread closed.
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