Timmy is absolutely correct with the comment about how a recession is defined....
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
You dont need a set of weekly numbers. The WA economy is going to tank without mining, the population is going to be a lot poorer and rents will fall. House prices are already falling and rents always rise and fall with prices. Now all that is needed is the big increases in interest rates and an entire generation of buy to let owners will be wiped out, or if their lucky, impoverished until this is all over. The last time we saw this was was 1930 to 1950, 20 years of misery and the worst time to be in DEBT my fellow aussies.
Get Out Of Debt.
Without mining you say? Is mining closing down because we just had a record surge in mining exports from WA.
Are you talking about mining investment. Yes investment is slowing but will remain at high levels for at least the next 3 years.
I will try to keep it simple.
When a corporation invests to build a mine or some other plant it normal expects to get a return on that investment by selling the produce it produces.
What exactly do you think all this investment produces, some nice big toys to look at perhaps.
This weeks final demand figures include the decline in mining investment but not the record amount of exports that very same investment produces. This is why so many economists, treasury officials have come out and said its rubbish.
When you factor in exports from the mining sector from WA, the GDP growth for the 1st quarter is running at 7.6% annualised. That is an increase of about 0.5% from the December quarter, so the economy actually expanded faster in 2013 to date then the end of 2012.
Mining investment will continue to slow over the next number of years at least for mining resources, energy is a whole different ball game. As many of the current 28 mega projects worth $168 billion come to completion in WA over the next 5 years, those investments will begin to export the products they produce.
The other factor you may want to consider in your ill thought out comment is these investments will provide wealth generating income for WA for decades to come and not just a short spurt of development from the investment period.
Know what you are talking about or at least try to.
So you could say you got what didnt mean shit right.
You forgot to mention you missed WA property going up by 10% or the rental price boom, or the land price boom currently underway, up 13.5% so far.
Recession, you still peddling that line. I believe the Treasury department in Canberra said this comment belong in "comic books" go watch the video, very its funny.
You need to stop telling blatant lies, I never thought you would be so dishonest and lie through your teeth, or should I say desperate.
A recession requires GDP growth to subtract for 2 quarters, we have not had any declining growth in GDP. If we have provide a link as you would be the only person in the country with such data.
The information you are using is final demand figures which do not include mining exports. So all of WA exports to China, Japan, South Korea and everywhere else in the world is not included.
When you include such data the WA economy expanded by 7.6% annualised rate in the 1st quarter.
Growth has increased as exports are booming, due to the boom in exports which was greater then the fall in mining investment, hence you get higher growth.
Perthite is a Liar and is purposely making comments which are totally untrue and dishonest as he knows the truth.
Do not destroy what little creditability you have left with comments like this. You may be right at some point in the future, but right now you are being a Liar and deliberately distorting facts and data.
Perthite
9 Jun 2013, 11:02 PM
Unfortunately there is not a state by state GDP number so the only way we can tell a state is in recession is with final demand.
I must be killing you guys it has been accepted by every form of media besides 'the west'.
Don't turn on talkback... you won't like what you hear. Actually I only check the website from time to time.
What is the point of paying for news which is already over 24hrs old.
On he goes with the lies, here you go in black and white.
Commentators accused of downplaying export figures
The state final demand in Western Australia did contract by 3.9 per cent in the first three months of this year, but if exports are included, WA's economy is growing.
Dr Parkinson says it is hard to fathom why commentators would downplay such an important aspect of the figures.
"Some of the hysteria that's in the press today is really over the top," he said.
"Apparently, if one was logical about this, it would be a good thing if we were, we'd lost competitiveness, we were importing a lot and gross national expenditure was growing rapidly.
"I understand people need to get publicity and that they need to sell product but some of the interpretations that have been placed on the data yesterday are really quite difficult to fathom."
Treasury's director of domestic macroeconomics, David Gruen, also argues that commentators are failing to take into account WA's booming export market.
"The idea that in the face of the largest investment boom we have ever seen, you ignore exports and focus on the piece of the economy that is demand by WA and claim that's a recession, it belongs in the comic books, not in serious newspapers," he said.
The dollar fell through 95 US cents this morning and has been as low as 94.74 cents after falling a full US cent overnight after yesterday's announcement.
The slower-than-expected growth outlook could drive the dollar lower.
Money markets are tipping another rate cut, to a new low of 2.5 per cent, as early as next month as the RBA seeks to further stimulate the economy.
Mr Langford warned people to be wary of comparing the state final demand figures to GDP as state final demand did not take into account exports and imports.
“I don’t agree with the term that WA’s in recession, certainly it's slowing and there is a risk of that, but balanced against things like building approvals that are coming in strong in WA versus the rest of Australia,” he said.
“You’d be derelict if you ignored it and said this all hunky dory we’re still in boom times, but definitely a source of caution and perspective needs to be put into it.”
Commsec economist Savanth Sebastian said yesterday the best way to examine the performance of states was through state final demand plus net exports.
By their sums, WA actually grew by 7.6 per cent during the quarter, beaten only by the Northern Territory which jumped by 15.5 per cent.
Please provide links to where it exactly states that WA GDP has contracted for two quarters. Please post the GDP data. If you cannot you have peddled a blatant lie, that was discredited days ago. Are you really so desperate. Link please.
Perthite
9 Jun 2013, 11:18 PM
Ohh no Mike has been listening to talkback.
It has been accepted move on bro.
Provide a link to official data which shows a decline in GDP for two quarters.
If you cannot you are a blatant liar.
Give us a link Mr Recession.
I do enjoy thoroughly smashing you and your reputation on this forum though, talk about being discredited. You make it to easy, you just stuck your neck out.
"failed to take into account the booming export market"?
Do they mean the one that is expanding at half the pace now than it did during the boom? When export growth was well into the double digits.?
If you swallow this shit your dumber than I thought.
Increasing exports have always been present during this boom. It just now the price and investment phase have headed the wrong direction. Hence the fall in final demand.
Your beloved exports have even slowed dramatically Mike.Worse than the head of REIWA Mike...
At least he openly discussed it. Which is more than I can say for you my real estate shill...
Suck shit buddy...
:pop: I am loving every minute Mike... caught out in the employment debate and now this....
"failed to take into account the booming export market"?
Do they mean the one that is expanding at half the pace now than it did during the boom? When export growth was well into the double digits.?
If you swallow this shit your dumber than I thought.
Increasing exports have always been present during this boom. It just now the price and investment phase have headed the wrong direction. Hence the fall in final demand.
Your beloved exports have even slowed dramatically Mike.Worse than the head of REIWA Mike...
At least he openly discussed it. Which is more than I can say for you my real estate shill...
Suck shit buddy...
:pop:
Link to your data that WA is in a recession or you are a Liar.
You made the comment and have continually said this despite every economist and treasury official saying it is bogus.
It is your comment, you said it now back it up with some hard facts please.
Link to the official GDP data that tells you that WA is in a recession.
Blondie girl
9 Jun 2013, 10:44 PM
Perthite..
Timmy is absolutely correct with the comment about how a recession is defined....
Perthite has just proved he is a troll and nothing more. He does not even know what a recession is or how you define it.
He thinks final state demand is a measure of GDP, it is not.
Treasury factor in state final demand + net exports to give a true GDP figure. When you do this you get 1st quarter growth of 7.6% for WA. Very healthy indeed.
Perthite is peddling a blatant lie and he knows it.
I have ABS final demand, you have the opinion of treasury.
Using your logic we could only be in recession if the whole country was.
Due to the massive distances between states and differing economies the information would be useless.
If Australia was in recession and final demand in WA was growing I would come to the conclusion that we where not in recession... as would you my two faced friend.
This thread is about rents and I'm over this subject as it is now general knowledge that WA is in Recession. So what is the point?
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