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The consequences of a Donald Trump win are disastrous for the Australian economy
Topic Started: 10 Nov 2016, 08:10 AM (8,615 Views)
Rufus
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Jon Snow
12 Nov 2016, 04:13 PM
Sure, mining is a big export earner, but it's not the biggest employer/earnings.

What's your point?
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herbie
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Me confidence level in Simon's great deflationary global depression has begun ta wane.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Jon Snow
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Rufus
12 Nov 2016, 04:34 PM
Sure, mining is a big export earner, but it's not the biggest employer/earnings.

What's your point?
How does a weaker aussie dollar help domestic producers?
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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herbie
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Jon Snow
12 Nov 2016, 10:58 PM
How does a weaker aussie dollar help domestic producers?
If I didn't just SO genuinely know I'm tha village idiot (economically speakin'), even I'd be tempted ta have a crack at answerin' that one ... :)
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Rufus
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Jon Snow
12 Nov 2016, 10:58 PM
How does a weaker aussie dollar help domestic producers?
It makes local industry more competitive, even if they are not exporters.

But you know that.
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Jon Snow
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Rufus
12 Nov 2016, 11:41 PM
It makes local industry more competitive, even if they are not exporters.

But you know that.
More competitive against who? The Chinese? The Japanese?

Or maybe the Thais? Which Banana Republic do you think industry in Sydney and Melbourne do you think are competing with?

Name one product manufactured in Sydney or Melbourne that would benefit from higher input costs, because they would be then cheaper compared to foreign competitors.

herbie
12 Nov 2016, 11:29 PM
If I didn't just SO genuinely know I'm tha village idiot (economically speakin'), even I'd be tempted ta have a crack at answerin' that one ... :)
Go on then you f***en smartarse.
Edited by Jon Snow, 12 Nov 2016, 11:53 PM.
Speak when you are angry and you will make the best speech you will ever regret.
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Rufus
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Jon Snow
12 Nov 2016, 11:52 PM
Name one product manufactured in Sydney or Melbourne that would benefit from higher input costs, because they would be then cheaper compared to foreign competitors.
Tourism and education for a start, which don't have higher input costs if our dollar falls, but they become significantly more competitive.
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herbie
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I'd reckon doing tha costings side of a mining budget must be a comparative pleasure these days - For Oz mines wot report in USD - Wif labour havin' bin trashed 'n oil bein' down a lot pretty much regardless of wot currency ya talkin'.
Edited by herbie, 13 Nov 2016, 02:38 AM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Jon Snow
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Rufus
13 Nov 2016, 12:06 AM
Tourism and education for a start, which don't have higher input costs if our dollar falls, but they become significantly more competitive.
Oh, I thought you said industry.

Anyway, tourism operators do have higher input costs, as tourism is energy intensive, but it doesn't matter much because service jobs are low paid, and declining incomes won't boost house prices.

I guess it comes down to educating Asian students in commerce and engineering, so they can go home and create wealth and visit here as tourists and we can serve cocktails to them for $US1 per hour.

Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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Rufus
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Jon Snow
13 Nov 2016, 10:23 AM
Oh, I thought you said industry.

Anyway, tourism operators do have higher input costs, as tourism is energy intensive, but it doesn't matter much because service jobs are low paid, and declining incomes won't boost house prices.

I guess it comes down to educating Asian students in commerce and engineering, so they can go home and create wealth and visit here as tourists and we can serve cocktails to them for $US1 per hour.
I probably did say "Industry" which is an all encompassing term.
I believe it was you who attempted to narrow the discussion to manufacturing.

The last chart I saw on export earnings showed our service industries earning more than iron ore, but maybe that's changed again with the recent gains in ore prices. But it's not just export industries that are affected. When our dollar is high local industries who supply local markets get beaten on price by goods and services from overseas. That reverses when our dollar falls.
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