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Australia has become a Banana Republic?; If not, then we are well on the way
Topic Started: 28 Apr 2012, 08:10 AM (2,289 Views)
NotFooled
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The Bear Whisperer

I was reading the description of a Bannana Republic on Wikipedia and it struck me that Australia could be well on the way to becoming one:
Quote:
 
A banana republic is a politically unstable country that economically depends upon the exports of a limited resource (fruits, minerals), and usually features a classed society — a large, impoverished working class and a ruling plutocracy, the rich élites of business, politics, and the military. [1] In political science, the term banana republic denotes a country dependent upon limited primary-sector productions, which is ruled by a plutocracy who exploit the national economy by means of a politico-economic oligarchy.

http://en.wikipedia.org/wiki/Banana_republic

What do you think? The main difference is that Australia is a stable country and the working class is not yet impoverished (instead, they are very indebted). If we double the population though then I think things will change and we could meet all the criteria.
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jester77
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So.. you mock people for predicting a crash, then propose a national situation almost certain to cause one?

Are you a trolling account?
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NotFooled
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The Bear Whisperer

jester77
28 Apr 2012, 11:08 AM
So.. you mock people for predicting a crash, then propose a national situation almost certain to cause one?

Are you a trolling account?
There's a difference between short term and long term. The problem with the overly abusive if bears is that they can't sensibly debate multiple scenarios without resorting to insults as you have clearly demonstrated.
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jester77
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I'm not a bear as such.

I'm sorry to offend, but really, your posts are borderline ridiculous. If you want to quibble about short and long term, then state that clearly. You dont post clearly or consistently on anything as far as I have read.
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NotFooled
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The Bear Whisperer

jester77
28 Apr 2012, 02:04 PM
I'm not a bear as such.

I'm sorry to offend, but really, your posts are borderline ridiculous. If you want to quibble about short and long term, then state that clearly. You dont post clearly or consistently on anything as far as I have read.
You don't understand what I post because I don't fall clearly into the two main groups here, that is:

- those who believe prices will fall, and believe that is a good thing
- those who believe prices will rise, and believe that is a good thing

I believe prices will rise, but that it is bad for the longer-term social cohesion of the nation.
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Enrico Palazzo
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No worry about the bananas, but we are an iron ore and coal republic All is OK for now, but give it another two years.
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jester77
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NotFooled
28 Apr 2012, 02:20 PM
You don't understand what I post because I don't fall clearly into the two main groups here, that is:

- those who believe prices will fall, and believe that is a good thing
- those who believe prices will rise, and believe that is a good thing

I believe prices will rise, but that it is bad for the longer-term social cohesion of the nation.
I don't either.

Frankly a rapid crash inst going to happen unless there are significant economic issues at play. The sensible thing atm is for governments to look at expanding into other economic areas, especially tertiary ones, and engineer a soft landing for housing, a staged reduction in values alongside a move away from government reliance on stamp duty.

As for your posts, I've made my point and will stick by it. It has nothing to do with your position.

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WestAussie
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Countries that rely on a single sector as we've seen in a lot of african and south American countries usually get worse. They take out loans and implement taxes to that sector to keep themselves afloat. The community as a whole has to pay for services needed to support the sector then when it slows down boom a poor community is left to pay for a service that's not required or a service that's to big and they all get poorer. Ie, the iron ore rail link which after use will become unused and derelict. Not paying any subsidies for the new one is the best thing they have done. They should also tax it depending on the burden it causes to developing the community as a whole else we loose workers, doctors, engineers from where they typically should be located.
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jester77
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The biggest advantage Australia has is it's young people, sadly we are coupled with an aging and incredibly stupid previous generation that doesn't have a clue about the importance of tertiary education and see it as a cost only exercise, so we are doomed to keep digging stuff out of the ground for other countries.
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newjez
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jester77
28 Apr 2012, 04:30 PM
The biggest advantage Australia has is it's young people, sadly we are coupled with an aging and incredibly stupid previous generation that doesn't have a clue about the importance of tertiary education and see it as a cost only exercise, so we are doomed to keep digging stuff out of the ground for other countries.
Compared to what? Australian tertiary fees are some of the lowest in the world. What percentage of Australian kids are teriary educated? I doubt you'll find it on the low end. How about some stats to support your position - because it doesn't ring true to me.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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