Why should WA / Perth be different when it comes to financial crisis.
#1
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Location: WA but not forever!!!
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Why should WA / Perth be different when it comes to financial crisis.
Hi all.
Just wondered what your thoughts on the financial crisi especially the impact on WA.
We've only been over 2 years. When we are talking to West Australians or expats that have been here for a long time they are a lot more positive about how the crisis will be for WA. We do seem to be a bit isolated here but I just wondered if anyone could explain the thinking behind all this.
Hope this makes a bit of sense.
Poppet
Just wondered what your thoughts on the financial crisi especially the impact on WA.
We've only been over 2 years. When we are talking to West Australians or expats that have been here for a long time they are a lot more positive about how the crisis will be for WA. We do seem to be a bit isolated here but I just wondered if anyone could explain the thinking behind all this.
Hope this makes a bit of sense.
Poppet
#2
Re: Why should WA / Perth be different when it comes to financial crisis.
In my opinion only, and keep in mind I'm no financial wizard, it's all down to the mining industry here in WA.
#3
Forum Regular
Joined: Oct 2007
Posts: 141
Re: Why should WA / Perth be different when it comes to financial crisis.
Hi all.
Just wondered what your thoughts on the financial crisi especially the impact on WA.
We've only been over 2 years. When we are talking to West Australians or expats that have been here for a long time they are a lot more positive about how the crisis will be for WA. We do seem to be a bit isolated here but I just wondered if anyone could explain the thinking behind all this.
Hope this makes a bit of sense.
Poppet
Just wondered what your thoughts on the financial crisi especially the impact on WA.
We've only been over 2 years. When we are talking to West Australians or expats that have been here for a long time they are a lot more positive about how the crisis will be for WA. We do seem to be a bit isolated here but I just wondered if anyone could explain the thinking behind all this.
Hope this makes a bit of sense.
Poppet
The higher things go, the longer and harder they fall.
Australia has had it very good for along time now, and it will within the next year come and bight the country extremely hard - and oh how the same greedy bankers etc and greedy baby-boomers will moan as there main home and three investment properties will fall in value!. Well, your greed will bite you. Good. It will not give the public sector workers a chance to live and work in the very areas you live in, and which they keep from being fragmented!
SHAME on all the GREEDY people everywhere!
#4
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Joined: Oct 2005
Location: Perth
Posts: 3,453
Re: Why should WA / Perth be different when it comes to financial crisis.
With the Chinese economy seriously shrinking and their demand for resources a result of this, WA would be very dangerous to sit on its laurels too much.
The higher things go, the longer and harder they fall.
Australia has had it very good for along time now, and it will within the next year come and bight the country extremely hard - and oh how the same greedy bankers etc and greedy baby-boomers will moan as there main home and three investment properties will fall in value!. Well, your greed will bite you. Good. It will not give the public sector workers a chance to live and work in the very areas you live in, and which they keep from being fragmented!
SHAME on all the GREEDY people everywhere!
The higher things go, the longer and harder they fall.
Australia has had it very good for along time now, and it will within the next year come and bight the country extremely hard - and oh how the same greedy bankers etc and greedy baby-boomers will moan as there main home and three investment properties will fall in value!. Well, your greed will bite you. Good. It will not give the public sector workers a chance to live and work in the very areas you live in, and which they keep from being fragmented!
SHAME on all the GREEDY people everywhere!
We own a shop and if this is an indicator of the economy then WA is knackered. Our takings are massively down on last year. On Friday, for example, we took 30% of the equivalent day in 2008 and 2007.
#5
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Re: Why should WA / Perth be different when it comes to financial crisis.
Do you have loadsa choice? You better have
#6
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Joined: Dec 2006
Posts: 128
Re: Why should WA / Perth be different when it comes to financial crisis.
what sort of shop and what area cause that also plays apart in things
#7
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Re: Why should WA / Perth be different when it comes to financial crisis.
At least we can be assured that your signage will be without the greengrocer's affliction that is the apostrophe.
Er - greengrocers' (plural)..?
#8
Joined: Dec 2007
Posts: 2,838
Re: Why should WA / Perth be different when it comes to financial crisis.
Hi all.
Just wondered what your thoughts on the financial crisi especially the impact on WA.
We've only been over 2 years. When we are talking to West Australians or expats that have been here for a long time they are a lot more positive about how the crisis will be for WA. We do seem to be a bit isolated here but I just wondered if anyone could explain the thinking behind all this.
Hope this makes a bit of sense.
Poppet
Just wondered what your thoughts on the financial crisi especially the impact on WA.
We've only been over 2 years. When we are talking to West Australians or expats that have been here for a long time they are a lot more positive about how the crisis will be for WA. We do seem to be a bit isolated here but I just wondered if anyone could explain the thinking behind all this.
Hope this makes a bit of sense.
Poppet
interest rates @ 18% Black Dog Days.So having gone through that, if I was still in WA I would be worried .As it is I'm in Melbourne and although mindful of things to come feel I have a better chance here.We hadn't reaped any benefits from any resource boom like you have over the last few years.It could act as a buffer or it might make things harder when your on the decline.Be nice to think you'll be immune but I wouldn't bank on it.
#9
Re: Why should WA / Perth be different when it comes to financial crisis.
It won't be any different, as mining has been mentioned already all it has down is slow the effects. Mines are being mothballed now, just wait and watch over the next year, the 'she'll be right' attitude will disappear.
Looking at the northern real estate paper and the reiwa magazine is hilarious, they are like progaganda machines but look very desperate.
Saying that, I still love it here and would rather be in a recession here than the UK.
Looking at the northern real estate paper and the reiwa magazine is hilarious, they are like progaganda machines but look very desperate.
Saying that, I still love it here and would rather be in a recession here than the UK.
#10
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Location: Perth
Posts: 3,453
Re: Why should WA / Perth be different when it comes to financial crisis.
Clothing shop. Just a little something on the side instead of putting money into superannuation (!)
#11
Forum Regular
Joined: Nov 2008
Location: Perth
Posts: 50
Re: Why should WA / Perth be different when it comes to financial crisis.
In short; most industries in WA are interrelated and dependant on mining and resources. If projects are terminated, delayed, postponed then people's services need to be terminated unless other projects can take up the slack. There are only a few new projects that continue. This then has an influence on the buying power of the individual and then housing, retail and general services gets affected as part of the knock-on effect. Because we live in a global village and economies are exposed to one another, what happens to your largest business partners will affect you at the end.
I have tried to explain this inter relationship with links to reports on the WA economy (i.e SENSIS Report) at www.perth-sa-migrant-support.com.au
I have tried to explain this inter relationship with links to reports on the WA economy (i.e SENSIS Report) at www.perth-sa-migrant-support.com.au
#12
Joined: Jun 2006
Posts: 4,555
Re: Why should WA / Perth be different when it comes to financial crisis.
Hi all.
Just wondered what your thoughts on the financial crisi especially the impact on WA.
We've only been over 2 years. When we are talking to West Australians or expats that have been here for a long time they are a lot more positive about how the crisis will be for WA. We do seem to be a bit isolated here but I just wondered if anyone could explain the thinking behind all this.
Hope this makes a bit of sense.
Poppet
Just wondered what your thoughts on the financial crisi especially the impact on WA.
We've only been over 2 years. When we are talking to West Australians or expats that have been here for a long time they are a lot more positive about how the crisis will be for WA. We do seem to be a bit isolated here but I just wondered if anyone could explain the thinking behind all this.
Hope this makes a bit of sense.
Poppet
#13
Re: Why should WA / Perth be different when it comes to financial crisis.
WA is traditionally hit harder by recessions / benefits more from booms. Dependency on the resource sector is the reason. Eg If a city has financial services as its main industry - people still buy insurance so they don't lose business. If people (globally) stop buying, China stops making, China stops buying raw materials, WA closes mines. That is a gross over-simplification but you get the idea.
#14
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Joined: Apr 2007
Posts: 495
Re: Why should WA / Perth be different when it comes to financial crisis.
WA is traditionally hit harder by recessions / benefits more from booms. Dependency on the resource sector is the reason. Eg If a city has financial services as its main industry - people still buy insurance so they don't lose business. If people (globally) stop buying, China stops making, China stops buying raw materials, WA closes mines. That is a gross over-simplification but you get the idea.
#15
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Re: Why should WA / Perth be different when it comes to financial crisis.
I'm going to be made redundant in a few weeks - certainly affecting our household:curse: