Half the economy grew 2%. The other half shrunk 3.9%
Hence so many economists called it....
Can you use your own brain... PLEASE.
That comment just proves you don't even bother to read the data.
You really don't have a clue, don't talk about economics, this comment makes you look like a real dill.
You should go talk to Wayne Swan and ask for his Job, at least you couldn't do much worse with those methods you have for measuring growth.
Still waiting for the link to GDP which shows WA in a recession, how many times do I need to ask you.
Come on backup your claims. Either you can do it or you lied to us all on purpose knowing the facts you posted were a deliberate lie.
genX
10 Jun 2013, 12:48 AM
Cherry pick all you like, if real income and employment are falling, it's recessionary. WA doesn't have any industrial production, so no point using that as a measure. Mining exports are not distributed to the WA economy except in the form of employment. Operating profits go to the owners, who for the most part, are not in WA.
Just because the exports come from WA, doesn't mean they form part of the WA economy. Welcome to globalisation.
Do you even live in WA, do you know what your talking about.
Manufacturing in WA employs 7.5% of the workforce with is about 93,000 people. Mining employs around 10% at its peak which is about 120,000.
Both industries use a vast array of support and contractors.
Exports are distributed through the economy in wages and taxes let alone the many other methods, the latter is far higher when exports rise as they are now.
You gave a range of possible public sector professions you might be employed in, from garbage truck driver to Treasurer. I'm going with the former.
yeah, reduction in GDP, not the rate of GROWTH. if it's still growing it's not receding ie recession. it's pretty simple i'm surprised even you can't understand it.
genX
9 Jun 2013, 11:47 PM
Timmy and Mike have TB, i.e. True Believerism. Any data contrary to the one true faith causes discomforting cognitive dissonance.
that pretty much spells you out. you want a recession so badly you'll even misread the wikipedia definition to believe it's happening.
Perthite
9 Jun 2013, 11:02 PM
I must be killing you guys it has been accepted by every form of media besides 'the west'.
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.
Don't worry Perthite..
You certainly ain't killing me with your comments.
It's certainly not all hunky dory, there is the fact that some people have lost their jobs, what the media never descirbes is the suicides that have sadly occurred . It impacts on everyone, I have been aware of some truly sad situations,..
People do need to be realistic in their financial responsibilities..life is too short
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 certainly ain't killing me with your comments.
It's certainly not all hunky dory, there is the fact that some people have lost their jobs, what the media never descirbes is the suicides that have sadly occurred . It impacts on everyone, I have been aware of some truly sad situations,..
People do need to be realistic in their financial responsibilities..life is too short
Seriously?!!? NOW you give a shit about other people !!??
Manufacturing in WA employs 7.5% of the workforce with is about 93,000 people.
7.5% is about what developing nations coming out of the agricultural age employ in manufacturing, or fading industrial powers who have destroyed their productive base with a bunch of nonsense speculation in financial assets.
Quote:
Mining employs around 10% at its peak which is about 120,000.
Translation, when mining contracts, WA is faaaaaaaaaarked.
Quote:
Both industries use a vast array of support and contractors.
Er, that's what the word 'employ' means. Are you saying there are people working for the mining and manufacturing sectors who not counted in official employment?
Quote:
Exports are distributed through the economy in wages and taxes
Thanks for agreeing with me.
Quote:
let alone the many other methods, the latter is far higher when exports rise as they are now.
Ooohhhh, "many other methods", of which you fail to mention even one. Enlighten me, what are these "many other methods" that take money from the shareholders in mining companies and distribute it to the good people of WA. I'm sure the mining companies would like to know also.
Seriously?!!? NOW you give a shit about other people !!??
I'm very successful & a high acheiver.
However I do have manners & have a heart. I've been through some negative personal life experiences that I wouldn't wish on anyone.
That is all you need to know.
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.
Seriously where is the money from this so called export boom?
State government revenue also fell in the quarter...
Boom?
Perhaps explain where it magically disappeared...
Do you think corporations pay taxes to the state on a daily basis, tax revenues will flow to the state when those corporations are required to pay the tax.
Link to your claims about declining GDP in WA, we are all waiting to see it, so we can make informed choices.
genX
10 Jun 2013, 01:51 PM
7.5% is about what developing nations coming out of the agricultural age employ in manufacturing, or fading industrial powers who have destroyed their productive base with a bunch of nonsense speculation in financial assets.
Translation, when mining contracts, WA is faaaaaaaaaarked.
Er, that's what the word 'employ' means. Are you saying there are people working for the mining and manufacturing sectors who not counted in official employment?
Thanks for agreeing with me.
Ooohhhh, "many other methods", of which you fail to mention even one. Enlighten me, what are these "many other methods" that take money from the shareholders in mining companies and distribute it to the good people of WA. I'm sure the mining companies would like to know also.
Provide data and links to your claims, you talk a lot of crap and never back it up. Bring some real data to the party and not your motherhood statements.
How do corporations contribute to the economy other then wages or taxes. Hmm let me see, local housing they rent, construct, local suppliers and the products they purchase to sustain the work force. Infrastructure they build does not disappear over night and lasts for decades. I wonder if all the local and national airlines benefit from all those FIFO workers, or the air ports. The huge rise in land prices and rents in many of the regional towns, mostly benefited private investors. I can go on and on if you like.
I think it's time you started to try and compete in your own league, go swap stories with Moops.
However I do have manners & have a heart. I've been through some negative personal life experiences that I wouldn't wish on anyone.
That is all you need to know.
I have a friend who is a very successful property developer. She is a multi millionaire. Both her kids have tried to kill themselves. Money doesn't cure mental illness, but lack of it can exacerbate the problems.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Rents are dropping for two reasons - one is the much reduced availability of LAFA which allowed a significant tax break on rents for folk from overseas. Secondly many people are buying their own homes, and thus reducing the intense competition for rentals.
I went to our builder the other day and he said that their past 4 months were all record breaking months. So it does look like residential building is set to take off and will provide construction work for those coming off mining construction projects.
WA is not in recession, as Mike has repeatably stated it grew by 7% it is silly to just use final demand figures for an exporting economy. It would be a bit like using consumer spending only by the local Balinese people to estimate the health of the Balinese retail sector. (Where I am at the moment )
CAPEX is still huge for WA it would be the absolute envy of any other place in the world. GDP per capita in WA is still over 50% higher than the other states and their house prices are among the cheapest in Australia.
Silly bears singing songs of doom and gloom dreaming and dreaming that someone is going to lose their jobs and sell them their house on the cheap. It just ain't gonna happen, anyone in any kind of distress with their mortgage sold out during the downturn. Most folk are a few years ahead on mortgages.
The house next door to my daughters has just gone on the market for $650,000, a 3 by 2. She bought her 4 by 2 on a larger block for $550,000 just a few months ago. It was in one of those areas that Veritas and a few others sneered about. That is 18% growth in about 6 months. I would not worry too much about the health of the Perth property market.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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