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Ten reasons to feel positive about the Australian economy
Topic Started: 11 Sep 2015, 06:37 PM (4,572 Views)
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Shadow
11 Sep 2015, 07:06 PM
Which of the ten items is wrong?
How about ALL.

1. Mining jobs are collapsing along with China. The price could fall another 50%, just like the goldman sach forecasts for the oil price yesterday, saying it could come off another 50% to $20 a barrel. The bloke has no idea when the bottom is or how it will effect us. The bottom line is that, the MINING BOOM IS OVER.

2.Store rooms are empty. Like he would know or have a clue for a start. They are probably empty because the buisiness is dying as it can no longer survive will all the government rules ,regulations and red tape. Thye probably wont be restocking the shelves but packing up and closing down the buisiness. Might be why unemployment keeps rising.

3. Well there is always a home renovation boom going on, just like 'the block' . If there was not, would these shows be on tele ? But yes, there is massive renos and rebuilds going on right now. Many forget, those three new mcmansions in the street that replaced those old shitters, pushes the median higher. I notice recently when driving through an area I had not been for some time, that many huge mcmansions had been built one after the other, is was an average area, where there was mainly very old and rundown type of houses. Surely these new two storey mcmansions, one after the other, push the median price up from those old single story red brick run downs. Many seem to forget, its sll the money being spent pushing the median up.

4. Yes workers are getting pay cuts, something you deny shadow. But they are also getting the sack. I mean is this just a blatant lie ? Unemployment is up 50% since 2008. Who is he trying to kid here. No need to go on here. The claim people are not getting the sack is a blatant lie. But vested interet aill say anything, right shadow, no matter what the reality.

5. Claims we are more internationally competative. Another blatant lie. Our wages are so high we simply.cannot.compete. Its the EXACT reason why we are losing our motor industry. The ONLY economy on the planet to lose their motor industry BECAUSE we are so uncompetative. Again a blatant lie from this vested interest.

6.The job market is holding up well.... Just ANOTHER BLATANT LIE. The jobs market is not holding up well, its why unemployment is up 50% since 2008 and with many employers now replacing full time jobs with part time casual. The NEW norm.

7.Households have amassed a "warchest" of savings. Talk it up spruiking. We can see by the firgures that the only "warchest" that has been amassed, and on a very very grand scale , is the warchest of debt that has been amassed like no tommorow, when rates cant go much lower and our economy declines. All.the figures show how high hosehold debt has risen, but this clown comes out with this.

8. Were spending less overseas. Maybe now because the dollar has copped a smackdown and people now have so much household debt they probably cant afford a holiday. With many wondering will they still have a job next week or ndxt month or next year. Be good if this spriuker could elaborate a bit more from his three or five word reason, from which the bloke cannot expand on in anyway because most are a blatant lie. We migh give him this one though. No rocket science, people are in debt up to their eyeballs and the dollar has fallen..

9. You cant control the weather. Wtf is this crap, sounds like our very own pf writing this one. When all else is failing, bring out the weather.

10. Growth will probably be revised up anyway..... again wtf is this. A revision of the truth and facts. A revision to get the best outcome. The fact is growth is dying. They can revise it up or down or however they like, wont change the fact we are heading into longterm economic decline.
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The Whole Truth
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skamy
12 Sep 2015, 07:50 PM
-- have you really no idea of how wealthy Australians are?
And have you any idea how much debt supports that wealth?
Basically all Australian's count their wealth in overinflated stocks and little squares of suburban real estate. The crown has done an amazing job selling the concept that such piddling amounts of land are worth spending millions of dollars on. The income derived from taxing it is phenomenal and it has kept these modern day serfs busy and far away from the land that has real value.

In the decades to come we will make the transition to a global economy Not powered by fossil fuels. In the process our cities will become either intolerable places to live or very undesirable places due to the massive cost of servicing them. Just imagine Detroit, multiplied again and again around the earth at the very time a lot of people reading this will be in their retirement and looking for income.

This isn't gloom and doom. It's just an obvious projection based on how much energy it takes to run cities and how much energy renewable sources can supply. We have had renewables for 40 years and more. If they measured up we would have switched to them long ago.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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ThePauk
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peter fraser
15 Sep 2015, 01:21 AM
IMO you will continue to be wrong for some time, probably years, as you have been for the last 7 or 8 years.
I called the last peak in March 2010, advised some investors to sell up and buy CBA shares, which they did. That was what I was paid for.
I also told the same investors in June this year to get out of CBA, back into cash, which they did again.
One took a very large short position on SGP and is likely to close out soon, as will I.
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The Whole Truth
15 Sep 2015, 08:31 AM
And have you any idea how much debt supports that wealth?
Basically all Australian's count their wealth in overinflated stocks and little squares of suburban real estate. The crown has done an amazing job selling the concept that such piddling amounts of land are worth spending millions of dollars on. The income derived from taxing it is phenomenal and it has kept these modern day serfs busy and far away from the land that has real value.

In the decades to come we will make the transition to a global economy Not powered by fossil fuels. In the process our cities will become either intolerable places to live or very undesirable places due to the massive cost of servicing them. Just imagine Detroit, multiplied again and again around the earth at the very time a lot of people reading this will be in their retirement and looking for income.

This isn't gloom and doom. It's just an obvious projection based on how much energy it takes to run cities and how much energy renewable sources can supply. We have had renewables for 40 years and more. If they measured up we would have switched to them long ago.
Debt ain't wealth til you cash it in.

Dat Minsky moment when leveraged investors realise "Fuck! I'm in neck fucking deep!"

Not so apparent during the euphoria phase.

Too late during the stampede for the exit phase.
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