|
Re: Britain: an economic train wreck
Originally Posted by Budawang
(Post 10191981)
Hmm, the Australian economy is currently growing at around 4%. We are in a far better situation than the UK. In the first quarter Australia's GDP increased by an annualised 4.3% versus the UK's decline of 0.8%. That's a huge divergence. The latest quarter is even worse for the UK.
http://www.smh.com.au/business/growt...606-1zvcf.html http://www.tradingeconomics.com/gdp-...ist-by-country |
Re: Britain: an economic train wreck
Originally Posted by roaringmouse
(Post 10192281)
Australia's mining boom forecast to end in two years. If that happens it may change things quite a lot.
"There's still enough gas in the tank of huge resource projects to provide handy pipeline protection if Europe were to turn pear-shaped," Mr Richardson said. He said Australia's outlook depended on neither Europe nor China generating worse news than expected. The outlook remained better than most people realised, he said. |
Re: Britain: an economic train wreck
Originally Posted by Zen10
(Post 10192279)
The slowdown in China will affect Australia though, no mistake, Mining is too big in the economy for the whole thing not to take a hit. I worry about Australia becoming addicted to easy money from selling rocks to China, basically.
besides, it's not just "rocks" that we sell. we are poised to overtake Qatar as the no.1 exporter of natural gas. |
Re: Britain: an economic train wreck
interesting article about the Chinese steel industry. they're taking over the world. http://www.bloomberg.com/news/2012-0...mmodities.html
now where do the Chinese buy their raw materials from . . . -=oOo=- Commonwealth Bank's chief currency strategist Richard Grace got a feisty reply after raising his concerns over Australia's over-dependence on China as an export market. Grace said it was concerning that ''60 per cent of those exports are in one commodity: iron ore''. Glenn Stevens then asked: ''Is there anything you can suggest that may insulate the Australian economy from that particular risk?'' Stevens: ''I don't think people would suggest that Saudi Arabia shouldn't export oil because that's all they have.'' |
Re: Britain: an economic train wreck
Originally Posted by Budawang
(Post 10191923)
Ouch, news just out that the UK's economy contracted much more the expected in the second quarter - down 0.7% following declines in the preceding two quarters.
Britain is in the midst of a decade or two of private debt de-leveraging which will see it move in and out of recession for most of that time thanks to the staggering level of private debt in the UK. A major default, on the scale of Lehman Brothers, is a distinct possibility unless something radical is done. We're going to be seeing a lot more Britons trying to migrate here in the next few years. http://www.telegraph.co.uk/finance/e...ock-0.7pc.html |
Re: Britain: an economic train wreck
Originally Posted by Zen10
(Post 10192279)
The slowdown in China will affect Australia though, no mistake, Mining is too big in the economy for the whole thing not to take a hit. I worry about Australia becoming addicted to easy money from selling rocks to China, basically.
Britain's economy is very dependent on financial services which, frankly, are pretty toxic these days. In fact, some people consider the financial sector to be up to their necks in some of the biggest ponzi schemes in history. Britain's debt fuelled binge of the last few decades created the illusion of wealth. |
Re: Britain: an economic train wreck
selling physical rocks is better than selling imaginary paper profits ;)
|
Re: Britain: an economic train wreck
Yeah but it makes people feel all warm and fuzzy to read about the 'train wreck' in the country they left behind.
I left area in Australia that had 9% unemployment and am now in an area with 4.3% unemployment. If you are in mining I would suspect you don't see the rising prices and the fact that more and more people are relying on charity. Whatever helps people sleep at night I guess. Of course I'm not allowed to say our friends are still doing fine and the people we have met in the village seem to be just fine :D
Originally Posted by mikelincs
(Post 10191963)
Come on, let's face it ALL countries are in ecconomic difficulties, so why should people want to swap one crisis for another.
|
Re: Britain: an economic train wreck
Don't say that, didn't you know that everyone is earning $70,000 a year and only works 4 hours a day then bugger off down to the beach :lol:
Originally Posted by bingobob777
(Post 10192168)
Why?
Unless you work in mining or engineering there's sod all here either. |
Re: Britain: an economic train wreck
Originally Posted by chris955
(Post 10192934)
Yeah but it makes people feel all warm and fuzzy to read about the 'train wreck' in the country they left behind.
I left area in Australia that had 9% unemployment and am now in an area with 4.3% unemployment. If you are in mining I would suspect you don't see the rising prices and the fact that more and more people are relying on charity. Whatever helps people sleep at night I guess. Of course I'm not allowed to say our friends are still doing fine and the people we have met in the village seem to be just fine :D |
Re: Britain: an economic train wreck
I must admit I have never heard Shailer Park referred to as a bogan crap hole :D
Originally Posted by Kim67
(Post 10193021)
Therein lies your problem, you're never comparing apples with apples when you compare your life in Australia to your life in the UK. You must have lived in a real bogan hole here from the way you've spoken previously, that's not Australia, that's the bogan crap hole suburb you lived in.
|
Re: Britain: an economic train wreck
yeah rite mr osbourne :rolleyes:
|
Re: Britain: an economic train wreck
i'd love to see more euro men coming to oz. :D
|
Re: Britain: an economic train wreck
Originally Posted by chris955
(Post 10193048)
I must admit I have never heard Shailer Park referred to as a bogan crap hole :D
|
Re: Britain: an economic train wreck
I started yesterday on my £850/day contract with a UK Oil Co, but also managed to fit in a few hours which will allow me to invoice my Australian Oil Co client. I spent the last few days around Scotland trying to broker a deal for an Audi R8 Spyder and also a flat in Edinburgh and Aberdeen. Let me tell all you UK haters, its not as the media would have you believe. There are more Sport and Executive cars on the road here than Oz, houses are selling, restaurants are busy.
My permanent home is west of Glasgow, and none of the people I know are worried or out of work. Maybe Scotland is different? |
| All times are GMT -12. The time now is 12:54 am. |
Powered by vBulletin: ©2000 - 2026, Jelsoft Enterprises Ltd.
Copyright © 2026 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.