Britain: an economic train wreck
Jul 25th 2012, 1:27 pm
#16
BE Forum Addict
Joined: Dec 2008
Posts: 3,396
Re: Britain: an economic train wreck
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
http://www.smh.com.au/business/growt...606-1zvcf.html
http://www.tradingeconomics.com/gdp-...ist-by-country
Jul 25th 2012, 1:33 pm
#17
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: Britain: an economic train wreck
Australia's mining boom forecast to end in two years. If that happens it may change things quite a lot.
ironic isn't it?
"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.
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.
Jul 25th 2012, 1:38 pm
#18
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: Britain: an economic train wreck
besides, it's not just "rocks" that we sell. we are poised to overtake Qatar as the no.1 exporter of natural gas.
Last edited by commonwealth; Jul 25th 2012 at 1:42 pm.
Jul 25th 2012, 1:49 pm
#19
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
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.''
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.''
Last edited by commonwealth; Jul 25th 2012 at 1:53 pm.
Jul 25th 2012, 1:52 pm
#20
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Britain: an economic train wreck
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
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
Jul 25th 2012, 2:19 pm
#21
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Re: Britain: an economic train wreck
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.
Jul 25th 2012, 2:27 pm
#22
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: Britain: an economic train wreck
selling physical rocks is better than selling imaginary paper profits
Jul 25th 2012, 7:04 pm
#23
Banned
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Location: The REAL Utopia.
Posts: 9,910
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
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
Jul 25th 2012, 8:19 pm
#25
Lost in BE Cyberspace
Joined: Jun 2008
Location: Brisvegas
Posts: 5,461
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
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
Jul 25th 2012, 8:39 pm
#26
Banned
Joined: Jan 2011
Location: The REAL Utopia.
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Re: Britain: an economic train wreck
I must admit I have never heard Shailer Park referred to as a bogan crap hole
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.
Jul 25th 2012, 8:54 pm
#27
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: Britain: an economic train wreck
yeah rite mr osbourne 
Jul 25th 2012, 8:56 pm
#28
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: Britain: an economic train wreck
i'd love to see more euro men coming to oz.
Jul 25th 2012, 9:09 pm
#29
Lost in BE Cyberspace
Joined: Jun 2008
Location: Brisvegas
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Re: Britain: an economic train wreck
I spent my first night in Brisbane in Shailer Park because we had our two dogs with us and had booked into a caravan park there instead of the serviced apartment in the city my husband's employer had booked. We hightailed it out of there within 12 hours and found alternative accommodation. It's not somewhere I would choose to live.
Jul 25th 2012, 9:31 pm
#30
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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?
My permanent home is west of Glasgow, and none of the people I know are worried or out of work.
Maybe Scotland is different?