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Australia's one trick pony is heading out to pasture; Mining boom over, what's the next money maker? Troubling for Australia, there's nothing.
Topic Started: 16 Dec 2012, 11:17 PM (10,362 Views)
Timo
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Australia's mining boom is officially over, the one trick pony is heading out to pasture and we are wondering what show will take the ponies place once it retires.

Problem is, there are no more ponies or even side acts to keep this show on the road. Second problem is, the circus tent (aka Australian housing) is so expensive that without the pony doing tricks, the show is over.

An interesting article about the impact of our one-eyed slavery to the notion housing never falls, and some thought provoking reading about what happens when the mining boom continues to contract.

This is a dire warning to those out there thinking about tying a noose around their necks in the form of a over-valued mortgage.

Hopefully we will see some good news stories about improved housing affordability, to lessen the impact of the minimg slow down.

http://www.smh.com.au/business/warning-after-the-boom-itll-be-dutch-and-go-20120829-2513n.html
Edited by Timo, 16 Dec 2012, 11:18 PM.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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miw
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Timo
16 Dec 2012, 11:17 PM
Australia's mining boom is officially over, the one trick pony is heading out to pasture and we are wondering what show will take the ponies place once it retires.

Problem is, there are no more ponies or even side acts to keep this show on the road. Second problem is, the circus tent (aka Australian housing) is so expensive that without the pony doing tricks, the show is over.

An interesting article about the impact of our one-eyed slavery to the notion housing never falls, and some thought provoking reading about what happens when the mining boom continues to contract.

This is a dire warning to those out there thinking about tying a noose around their necks in the form of a over-valued mortgage.

Hopefully we will see some good news stories about improved housing affordability, to lessen the impact of the minimg slow down.

http://www.smh.com.au/business/warning-after-the-boom-itll-be-dutch-and-go-20120829-2513n.html
"He used .... sarcasm....dramatic irony, metaphor, pathos, puns, parody, litotes and................satire."
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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Timo
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miw
16 Dec 2012, 11:25 PM
"He used .... sarcasm....dramatic irony, metaphor, pathos, puns, parody, litotes and................satire."
Keep your head in the sand, it should go away.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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miw
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Timo
16 Dec 2012, 11:28 PM
Keep your head in the sand, it should go away.
F^ck! and now the dreaded non sequitur!
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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peter fraser
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Timo
16 Dec 2012, 11:17 PM
Australia's mining boom is officially over, the one trick pony is heading out to pasture and we are wondering what show will take the ponies place once it retires.

Problem is, there are no more ponies or even side acts to keep this show on the road. Second problem is, the circus tent (aka Australian housing) is so expensive that without the pony doing tricks, the show is over.

An interesting article about the impact of our one-eyed slavery to the notion housing never falls, and some thought provoking reading about what happens when the mining boom continues to contract.

This is a dire warning to those out there thinking about tying a noose around their necks in the form of a over-valued mortgage.

Hopefully we will see some good news stories about improved housing affordability, to lessen the impact of the minimg slow down.

http://www.smh.com.au/business/warning-after-the-boom-itll-be-dutch-and-go-20120829-2513n.html
Timo we have been exporting our ores for generations, and that will continue for long after you and I are gone from this earth. there will be some ups and some downs. I fail to see any possible way for demand to fall to insignificant levels with not only China investing in infrastructure, but India as well - that's almost half of the worlds population. The world has never seen anything like this before. Even if india don't buy from us they soak up produce from elsewhere.

We do need to get our dollar down quite a bit, but that could take time. If mining does recede, then our dollar will fall lower much faster, which is what we want. It's almost a Catch 22 in reverse.

The government will do what it has to do to ensure funding of our banks, and interest rates can move lower. There hasn't been one government in the world that hasn't taken whatever action it needed to do to lessen the burden for it's people. If that means the government finding alternate funds for our banks, or guaranteeing their loans, guaranteeing their deposits, reducing interest rates, engineering a fall in the dollar, or any other measure required - they will do that - it's what governments do. They work for the majority, not for you.

I don't get why you don't get that.
Any expressed market opinion is my own and is not to be taken as financial advice
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frankrider
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peter fraser
17 Dec 2012, 12:09 AM
- it's what governments do. They work for the majority, not for you.

I don't get why you don't get that.
He probably doesn't get it because he's not a drone that believes all the standard images govenments employs to portray themselves. Governments secure the majority and then work for the minority, to secure their votes as well. That's why the majority of Australias, who are workers, pay an enormous tax burden to support a minority welfare class. A minority immigrant class, a minority indigenous class, an overpaid minority public sector, and above all, the wealthy corporate minority here and offshore. If we were all just Australians with the government working for the majority, then we would all share equally in the profits of the nation. But we do not.


Australia's most expensive advertising campaign:

When the GST (Goods and Services Tax) was about to be introduced the Aussie government spent $100 million in Australia's biggest advertising campaign ever to try and convince the nation of the benefits of GST and explain how it is going to work.

Negative gearing is a form of leveraged speculation in which a speculator borrows money to buy an asset, but the income generated by that asset does not cover the interest on the loan

A negative gearing strategy can only make a profit if the asset rises so much in price that the capital gain is more than the sum of the ongoing losses over the life of the speculation. http://en.wikipedia.org/wiki/Negative_gearing
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themoops
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Ruby Member
I bet we don't even need anything. We didn't have some big thing in the 70s, 80s and 90s. We just need to tell the morons to get fucked, drastically reduce immigration and they can cry that they can't buy a Porsche every year or charge two grand to fix a dunny.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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Ex BP Golly
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Timo, we have been sellling dirt for generations.

Guess what farms are made from Timmo?

Thats right, dirt.

A different type of dirt, but hey, you don't even have to dig this stuff up, process it and export it.

Imagine how much we can make selling this stuff?

Yippee, we will all be rich!
peter fraser
17 Dec 2012, 12:09 AM
......... - it's what governments do. They work for the majority, not for you.

I don't get why you don't get that.
Did you hear that Eddie?

What do you think Idi?

Mr Marcos? :lol :lol :lol

Edited by Ex BP Golly, 17 Dec 2012, 08:19 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Shadow
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Evil Mouzealot Specufestor

This article is nearly four months old. The 'end' of the mining boom is already being discussed here in at least three other threads.

What is it with bears posting old news article... can they not find anything gloomy and recent?

Iron ore price rocketed above $129 over the weekend.

AREPS.
Edited by Shadow, 17 Dec 2012, 09:20 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Pig Iron
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Bogan scum

To cap it off the coal price has continued to rise.

Timo hows that negative real interest rate going on that deposit you were saving?
I am the love child of Tony Abbott and Pauline Hanson
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