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-   -   Australia economy/bubble/fiscal cliff/recession 'stuff' (https://britishexpats.com/forum/australia-54/australia-economy-bubble-fiscal-cliff-recession-stuff-770625/)

Amazulu Sep 5th 2012 8:07 am

Australia economy/bubble/fiscal cliff/recession 'stuff'
 
http://www.perthnow.com.au/news/brea...-1226465792852

I think there have been 3 quarters of negative growth out of 84.

commonwealth Sep 5th 2012 8:38 am

Re: Australia celebrates 21 years of continuous economic growth
 
so? :p

Tramps_mate Sep 5th 2012 9:32 am

Re: Australia celebrates 21 years of continuous economic growth
 
Bet it doesn't this year..

bingobob777 Sep 5th 2012 10:43 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Amazulu (Post 10264717)
http://www.perthnow.com.au/news/brea...-1226465792852

I think there have been 3 quarters of negative growth out of 84.

not particularly hard when the 2 countries with the largest populations in the world have been expanding their economies at 8-9% a year and demanding the resources to facilitate it.

Pit Bull. Sep 6th 2012 7:40 am

Re: Australia celebrates 21 years of continuous economic growth
 
21 years continuous growth, that's incredible. I think a slow down is on the cards though, but we will have to wait and see.

Zen10 Sep 6th 2012 7:44 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Pit Bull. (Post 10266542)
21 years continuous growth, that's incredible. I think a slow down is on the cards though, but we will have to wait and see.

Slow down is inevitable. Hopefully it will be shallow, but deep enough to bring sanity to the housing market.

commonwealth Sep 6th 2012 9:23 am

Re: Australia celebrates 21 years of continuous economic growth
 
slowdown but not recession i hope

Pit Bull. Sep 7th 2012 11:02 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Zen10 (Post 10266548)
Slow down is inevitable. Hopefully it will be shallow, but deep enough to bring sanity to the housing market.


The signs are there if I'm honest, but just how bad it will be is just guess work at present, like you say hopefully it will be shallow.

Pit Bull. Oct 9th 2012 6:59 pm

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Pit Bull. (Post 10266542)
21 years continuous growth, that's incredible. I think a slow down is on the cards though, but we will have to wait and see.

You were wrong Bull, the predictions are Australia's economy will grow by 3% that's 22 years of continuous growth. :thumbsup:

chris955 Oct 9th 2012 7:08 pm

Re: Australia celebrates 21 years of continuous economic growth
 
Yes, absolutely :thumbsup:

Zen10 Oct 9th 2012 9:18 pm

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Pit Bull. (Post 10322261)
You were wrong Bull, the predictions are Australia's economy will grow by 3% that's 22 years of continuous growth. :thumbsup:

It's now 12th biggest economy in the world and still expanding. It's just overtaken Spain, Mexico and South Korea.

Pit Bull. Oct 9th 2012 9:27 pm

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Zen10 (Post 10322488)
It's now 12th biggest economy in the world and still expanding. It's just overtaken Spain, Mexico and South Korea.

Yes absolutely. :thumbsup::rofl:

commonwealth Oct 9th 2012 9:44 pm

Re: Australia celebrates 21 years of continuous economic growth
 
with only 20+ million people that's a good one!

Zen10 Oct 9th 2012 11:54 pm

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by commonwealth (Post 10322542)
with only 20+ million people that's a good one!

It is an amazing achievement considering the low population and the fact it's only 200 years old, but we need to remember the role of natural resources in this.

commonwealth Oct 10th 2012 2:11 am

Re: Australia celebrates 21 years of continuous economic growth
 
are we gonna tell saudi arabia to stop selling oil?

and whatever happened to north sea oil?

Mr Grumpy Oct 10th 2012 3:38 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Zen10 (Post 10322687)
It is an amazing achievement considering the low population and the fact it's only 200 years old, but we need to remember the role of natural resources in this.

True, but it is better to have real natural resources than the imaginary industry that the UK relies on - Finance.

All of those financial transactions have no real value, only the value that people place on them at the time. Atleast natural resources have an ongoing usage, unlike imaginary finances that disappear in the blink of an eye.

Pit Bull. Oct 18th 2012 10:06 pm

Re: Australia celebrates 21 years of continuous economic growth
 
I like feel good posts like this.

CindyHelens Oct 19th 2012 2:21 am

Re: Australia celebrates 21 years of continuous economic growth
 
I like it when Mr. Hockey said:

"You don't introduce new taxes when the economy is slowing. You don't go down the path of making it harder and not easier for Australian businesses."

Economic growth is not all about imposing taxes but include the overall health of the markets and consumer preferences.

commonwealth Oct 19th 2012 11:53 am

Re: Australia celebrates 21 years of continuous economic growth
 
are you sure it's hockey not milliband who said that?

CindyHelens Oct 19th 2012 10:29 pm

Re: Australia celebrates 21 years of continuous economic growth
 
yes,. :)

Fran_L Oct 24th 2012 9:23 am

Aussie inflation rises
 
Australian inflation rose to 1.4% which was above the market estimates of around 1.0%. Further interest cuts on hold?

Read more here:
http://britishexpats.com/forum/showt...0#post10347020

Pit Bull. Oct 25th 2012 8:27 pm

Re: Australia celebrates 21 years of continuous economic growth
 
Any signs of that long awaited predicted recession in Australia? Growth predicted for next year of 3% still looking good.

The UK came out of recession with an unexpected and not predicted 1% third quarter growth, that's Definately good news.:thumbsup:

Budawang Oct 25th 2012 8:37 pm

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Mr Grumpy (Post 10322873)
True, but it is better to have real natural resources than the imaginary industry that the UK relies on - Finance.

All of those financial transactions have no real value, only the value that people place on them at the time. Atleast natural resources have an ongoing usage, unlike imaginary finances that disappear in the blink of an eye.

Not to mention that much of the City of London is involved in out and out financial fraud on a massive scale. The bedrock of the British economy has been described as the world's epicentre of financial fraud.

roaringmouse Oct 25th 2012 9:15 pm

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Budawang (Post 10349993)
The bedrock of the British economy has been described as the world's epicentre of financial fraud.

By whom? You got a reference for this?

commonwealth Oct 25th 2012 9:35 pm

Re: Australia celebrates 21 years of continuous economic growth
 
Libor Scandal Galore

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

commonwealth Oct 25th 2012 9:51 pm

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Pit Bull. (Post 10349970)
The UK came out of recession with an unexpected and not predicted 1% third quarter growth, that's Definately good news.:thumbsup:

one can hope it's not a one off effect of the dismal rainy 2nd qtr and the jubilee and olympics in 3rd qtr.

bingobob777 Oct 26th 2012 12:25 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by commonwealth (Post 10350092)
one can hope it's not a one off effect of the dismal rainy 2nd qtr and the jubilee and olympics in 3rd qtr.

triple dip recession :lol:

steve`o Oct 26th 2012 1:00 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Pit Bull. (Post 10349970)
Any signs of that long awaited predicted recession in Australia? Growth predicted for next year of 3% still looking good.

The UK came out of recession with an unexpected and not predicted 1% third quarter growth, that's Definately good news.:thumbsup:

you really are living in la la land mate,
everyone i know is telling me how tight work is, ,my own experiences is that works down to a couple of days a week at the moment ( you had to knock people back a couple of years ago ) and you prattle on about growth what growth? you mean some mine some where that employes a couple of thousand workers has shipped a couple of additional tankers full of iron abroad
whilst the rest of the working population about 11 million struggles ?

f-ing delusional, your in for such a shock

commonwealth Oct 26th 2012 1:54 am

Re: Australia celebrates 21 years of continuous economic growth
 
i think personally from experience and observations 3% is about right.

steve`o Oct 26th 2012 2:12 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by commonwealth (Post 10350334)
i think personally from experience and observations 3% is about right.

not for construction - 50% would be nearer the mark

commonwealth Oct 26th 2012 2:49 am

Re: Australia celebrates 21 years of continuous economic growth
 
i see more ongoing construction projects today compared to last year. and the barangaroo precinct is now starting big scale construction. the sydney convention precinct will be closed for reconstruction. i see holes being dug up for apartment towers, 2 stations away from our suburbs. and it's all pre-sold.

but thats just my observation.

steve`o Oct 26th 2012 3:00 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by commonwealth (Post 10350381)
i see more ongoing construction projects today compared to last year. and the barangaroo precinct is now starting big scale construction. the sydney convention precinct will be closed for reconstruction. i see holes being dug up for apartment towers, 2 stations away from our suburbs. and it's all pre-sold.

but thats just my observation.

http://www.abc.net.au/news/2012-08-1...d-jobs/4200352

http://www.abc.net.au/news/topic/bui...d-construction

dont get me wrong anything been built is good but compared to just 3 or 4 years ago its dismal

commonwealth Oct 26th 2012 7:25 am

Re: Australia celebrates 21 years of continuous economic growth
 
well. but my previously unemployed friends have found perm jobs and we're busy with new deals in the office. and i'm getting mote calls from recruiters about openings.

Pit Bull. Oct 26th 2012 7:26 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by steve`o (Post 10350264)
you really are living in la la land mate,
everyone i know is telling me how tight work is, ,my own experiences is that works down to a couple of days a week at the moment ( you had to knock people back a couple of years ago ) and you prattle on about growth what growth? you mean some mine some where that employes a couple of thousand workers has shipped a couple of additional tankers full of iron abroad
whilst the rest of the working population about 11 million struggles ?

f-ing delusional, your in for such a shock


Yeah we should believe you and yer mate, instead of the economists, it's them that predicted the 3% growth not me, your making yourself look like an angry idiot, get yer facts right fella before issuing the personal attacks. :nod:

Mr Grumpy Oct 26th 2012 7:58 am

Re: Australia celebrates 21 years of continuous economic growth
 
There are winners and losers in all economies. I work in the Transport industry and during the Howard years that industry was dead in this country, now that Labor is helping to fund many transport programmes around the country there is plenty of work in my field.

However if you are in something like retail shopping, then you're screwed.

commonwealth Oct 26th 2012 9:37 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by Mr Grumpy (Post 10350591)
There are winners and losers in all economies.

precisely. one sector is not an indication of the whole country's economy.

retailers in Aus are suffering but the sale of SUVs has reached record highs. and saving account balances are growing. what does that mean?

Pit Bull. Oct 26th 2012 9:42 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by commonwealth (Post 10350718)
precisely. one sector is not an indication of the whole country's economy.

retailers in Aus are suffering but the sale of SUVs has reached record highs. and saving account balances are growing. what does that mean?

Yeah but, out of the 11 million people employed in Australia, over 10 million work in the mines, or so we are led to believe, so if the mining struggles so does everywhere. :confused:

commonwealth Oct 26th 2012 11:09 am

Re: Australia celebrates 21 years of continuous economic growth
 
more than 3/4 of the aust economy is represented by the services industry.

even sydney's economy is bigger than the australian mining industry ;)

bingobob777 Oct 26th 2012 11:33 am

Re: Australia celebrates 21 years of continuous economic growth
 

Originally Posted by commonwealth (Post 10350848)
more than 3/4 of the aust economy is represented by the services industry.

even sydney's economy is bigger than the australian mining industry ;)

yeh but the services industry is fecked as well.

it's like the UK but 5-6 years behind

people think they're rich because their house goes up in value, start spunking money on clothes, hairdos and new nails. On every street corner hairdressers and nail salons pop up.

fast forward 5 years, people still need to pay their mortgage, their wages have stopped rising and there's no more equity left in the house.

so they stop buying shoes, haircuts and new nails. Then they all realise that having to pay 50% more for a house than 10 years ago probably isn't a good idea, but by then it's too late, if house prices were to fall they would be even more fu**ed.

hence 10 years of stagflation.

coming to the whole westernised world. Japan are 20+ years in, the UK 6-7 years. Australia just had a much, much lower starting point to build from :D

and why is people cutting each others hair any better an economy than people selling financial products? Neither are really needed?

LINZI Oct 26th 2012 11:50 am

Re: Australia celebrates 21 years of continuous economic growth
 
All I know is the shit has hit the fan at hubbys work laying off people left right and center and hubby is scared for his job for the first time in 7 years :thumbdown: Mackay/Maitand mining company.

I was talking to one of the parents tonight and he was saying alot of young blokes had work contracts and had bought houses and now have been laid off also there was 20 hours of overtime on offer now nothing :unsure: he did say should pick up around may time again :fingerscrossed:

I am hoping hubbys job is ok but if not we may have to move to where the work is :nod:


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