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Ten reasons to feel positive about the Australian economy
Topic Started: 11 Sep 2015, 06:37 PM (4,577 Views)
skamy
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You bears are the stupid ones - there is indeed very little wrong with the Aussie economy yet you guys still believe the whole financial system will collapse. Talk about crazy stupid -- have you really no idea of how wealthy Australians are?
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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Andrew Judd
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Loki
11 Sep 2015, 08:12 PM
Ahhh ... that would be a no.
You are Terry and I claim my prize
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John Frum
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skamy
12 Sep 2015, 07:50 PM
You bears are the stupid ones - there is indeed very little wrong with the Aussie economy yet you guys still believe the whole financial system will collapse. Talk about crazy stupid -- have you really no idea of how wealthy Australians are?

If you say it to yourself enough times it will come true.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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Loki
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Andrew Judd
12 Sep 2015, 07:56 PM
You are Terry and I claim my prize
I'm sure Terry is as surprised as me to discover we are in fact the same person.

Your prize is a big fat dummy and a wooden spoon. Now run along and take a nap.

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skamy
12 Sep 2015, 07:50 PM
You bears are the stupid ones - there is indeed very little wrong with the Aussie economy yet you guys still believe the whole financial system will collapse. Talk about crazy stupid -- have you really no idea of how wealthy Australians are?
Aren't you supposed to click your heels three times?

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Edited by Loki, 12 Sep 2015, 08:45 PM.


“Talk sense to a fool and he calls you foolish.” - Euripides
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Ten reasons too feel not so positive about the Australian economy.

1. Unemployment up 50% since 2008, with many jobs now moved offshore or dissapearing altogether and many more set to go with our motor industry being one. The ONLY economy on the planet to lose their motor industry. Ask why us and nobody else ? Wages that can no longer compete is what blind freddy told me. The large transition from full time jobs to part time casual positions and with computerised automation now taking many jobs also. Honestly, has it EVER looked worse for Australian jobs moving forward ?

2. Worst wages growth in history, with wages falling, both in public and private sectors. Wages that grew at 60,70 and even 100% over previous five year historical periods both here and in the US now have wages barely moving. Not sure what five year wages growth was here, but in the US wages growth from the five year period 2008-2013, saw wages grow by just under 5%, not the 60,70 and even 100% growth we have seen over previous five year periods. In Sepember last year, Coca Cola reduced wages for new Australian employees by 30% , as well as a two year wage freeze for current workers. Government wages have also seen wage reductions in some states.

3. Worst rental growth in history, last month it was reported that rents in ALL capital cities had gone down. This month every capital city rents fell except for Sydney where they were flat. With record amounts of property set to start flooding the market next year, rents will keep falling in ALL capital cities. The debt led 'investor' frenzy has resulted in mounting rental properties at a time when unemployment has been rising continuously for seven years.

4. Lowest interest rates in history. With the record low rates in place, the amount we can now move downward on rates is also at a record. The lower the interest rates the less pensioners and retirees recieve on their savings, the less they spend at the shops, the more buisiness slows the more jobs dissapear. Many retirees have never seen rates go this low in their life, and had not seen or planned for it in retirement. Many with say 500k in savings would recieve 35k at 7% interest, but with banks rate closer to three percent, they get closer to 15k now, not 35k like before. The end result here is they could live off the interest before but now they cannot. To maintain there 35k living expenses these days, they would need to use 20k of their capital each year. In five years their capital would be 400k and recieving less each week again, forcing even more capital to be used. And you can do the sums for those that only had 300k in their superfund. Low interest rates destroys real wealth and savings and also jobs for all the reasons mentioned above.

5. The tanking of commodity prices. Iron ore has dropped from near 200 a tonne down to closer to 50 a tonne. Not only is this a big hit to buisiness and jobs, but also a large hit to the government cash cow that relied on these funds for government planned works and projects and jobs. Many of which are now being scrapped or reduced. The tanking of oil prices from near 150 a barrel to 50 a barrel allow cheaper countries to produce even cheaper products again, putting further threats to our jobs and wages and leaving us even less competative again.

6. The collapse of China. The straw that broke the camels back. Their overbuilding of not only units and ghost cities but almost every single product on the planet is sending prices lower and lower and where western economies like our own have simply no chance of competing.

7. The ageing population combined with record youth unemployment that is now higher than the US and UK as is adult unemployment for that matter. Not only do we have an ever increasing or record amounts of boomers hitting pension age and requiring more government assistance and funds, but we have record unemployed youth levels now requiring more government financial assistance or funding placing more stress on government funds and the taxpayer.

8. The gfc still going strong seven years later, rates in the US not raised in nine years and still at zero seven years later. The Euro still in decent and not much for Australia to run with as decline still going on worldwide. We here the lies that the US is improving, but to look below the surface the facts are clear. House prices the same as ten years ago when rates have been at zero for seven years,where rates have not risen in nine and where population has increased by 25 million people over this time. Where people on food stamps have risen from 17 million in 2008 to closer to 50 million now. Does that really look like an improvement ? Can Australia look to the rest of the world for an insight into the future ?

9. Computerised automation. Another huge threat to our jobs with many already falling victim. Not only a threat to western wages but also a threat to cheap chinese wages with jobs now falling victim there also. Robots and computers dont need lunch breaks, toilet breaks or four weeks paid holiday. They dont need overtime or have to be paid for having days off. They can work 24/7 and dont complain, cant fall pregnant and cost someone a shitload of wasted buisiness funds supporting some one elses kid.

10. A government that is so far out of touch with reality and grown ten times bigger than it EVER should have, wasting taxpayer funds like there is no tommorow and learning NOTHING WHATSOEVER from events overseas. A group of overpaid morons making ever demoralising and poor decisions for our country. Where migrants and gay marriage take priority over important economic decisions and problems such as record youth unemployment which NEVER seems to get a mention. Did they just given up on that hopelss case ? Or try and divert away from such realities by focusing on such further mindless wastes of time and degradation of the country by addressing crap on an ongoing basis ? The fact is, the gfc came about and the world is in such a bad way because of the actions and mindless decisions made by our so called 'leaders'. Where these greedy self obsessed morons are to busy learning the best ways to milk the system on their watch. It gots to the point where its been milked to death by previous leaders, leaving the current lot with not much left but the crumbs. Its the reason why the gfc is still going seven years later and why nothing has been fixed. Its merely a repeat of history, just as the lead up to the last great depression involved increasing debt levels, its no different here, apart from the FACT, the debt levels of today make the great depression look like a stroll through the park.


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ThePauk
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13 Sep 2015, 11:57 AM
Ten reasons too feel not so positive about the Australian economy.

Good work. Thanks for your effort.
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herbie
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13 Sep 2015, 11:57 AM
Ten reasons too feel not so positive about the Australian economy.
Never mind mate. Something really really bad will presumably eventually happen some day to cheer you right up ... :)
Edited by herbie, 13 Sep 2015, 07:47 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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peter fraser
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Loki
11 Sep 2015, 08:12 PM

5. We're becoming more internationally competitive
No. We. Are. Not. This is just a flat out lie.
Yep we are actually.

Couldn't be bothered with the rest. Another day perhaps.
Any expressed market opinion is my own and is not to be taken as financial advice
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Loki
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peter fraser
13 Sep 2015, 10:52 PM
Yep we are actually.
That was on par with your usual informative self.
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Couldn't be bothered with the rest.
Couldn't even be bothered with the first one.
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Another day perhaps.
Won't hold my breath.


“Talk sense to a fool and he calls you foolish.” - Euripides
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peter fraser
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Loki
13 Sep 2015, 11:21 PM
That was on par with your usual informative self.

Couldn't even be bothered with the first one.

Won't hold my breath.
Well on reading some of your quite infantile replies to others, I think that I gave you more than enough.
herbie
13 Sep 2015, 07:45 PM
Never mind mate. Something really really bad will presumably eventually happen some day to cheer you right up ... :)
It's a big world - it's always raining somewhere.
Edited by peter fraser, 13 Sep 2015, 11:25 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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