The demise of manufacturing in Australia

[lyle2212]

Nathan there is a good reason why Real Estate prices are high and a strong economy is only part of it. The other reasons are a shortage of Housing, figures have been quoted in real estate magazines of a shortage of between 100,000 and 200,000 dwellings. And we currently have the highest Immmigration  intake per capita in the world. And these Immmigrants coming into the country (not only the Boat people) all need some where to live. That is why there is no housing price bubble as some people like to spruik. The housing prices are based on the state of our nation.

[TooFastTim]

The mine site and all the Iron Ore in the ground has been bought by the Chinese,the camp was built by the Chinese even the sand and cement used in the camp footpaths is from China . .....They have a large contingent of Chinese labour there already, mostly engineers and the like but they laso have quite a few labourers also

In darkest Africa the natives are getting restless and are eager to rid themselves of the yoke of the white imperialist colonialist bastards. They stand ready to accept their new partners in the great socialist experiment where all shall profit from the riches of the land.

Somehow they think that the Chinese will be their partners and that jobs and riches shall flow and all shall be peace and light again in Africa as it was before the arrival of the white devils.

The Zambians learned the hard way of the Chinese way of business as described by Lyle and now wish that they did not have to do business with the Chinese.

<Apologies for hijack but it's a very pertinant example for South Africa at the moment where the unwashed think that the Chinese will solve all their problems>

[motomaniac]

Are we really poor? Or are have we been conned into believing that we are badly off. Perhaps, contrary to the cries from the pollies and the vocal minorities we are better off than most.

SMH, Tuesday 1/11/2011

Australians the world's wealthiest
October 31, 2011
Despite the doom and gloom, there are reasons to be cheerful. As measured by median wealth levels, Australians are the wealthiest people in the world, says the Credit Suisse Global Wealth Report 2011, which measured the wealth of the world's 4.5 billion adults.

It found Australia's median wealth, the mid-point between the wealthiest adult and poorest, was $US222,000 ($213,800), the highest in the world.

Average wealth was $US397,000, the world's second-highest after Switzerland with $US540,000.

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It is the median figure that is more meaningful because it says more about how a country's middle class is doing.

Wealth in Australia is more evenly distributed than in other countries, particularly compared to the US, which has median wealth of about $US53,000.

As Credit Suisse measured wealth in US dollars, the strength of the Aussie dollar has helped push Australia up the rankings.

Now if this is true, perhaps we can afford to support local industries and actually turn things around. Or continue to buy overseas and complain about the continuing decline...

Wonder if the figures include your house.

Also wonder how we can be both the highest for household debt and the second wealthiest.

[lyle2212]

TooFastTim..there was a good program on discovery channel last week about the Chinese taking over Angola. A country ravaged by 30 years of civil war,now in peace time and trying desperatly to boost their Economy by selling mining leases to the chinese. The Chinese have now moved into the country "en mass" and are not only taking over the mining Industry but the whole show, setting up shops every where and selling anything and everything. And guess what ,how many locals do you think they have employed ..!!! none.

[vmx42]

Moto,
You wealth is the difference between your debt and assets. So yes we can have both the highest wealth and highest debt.

But as you say, it is interesting to be at the top of both categories. Would be better to be at the top of the happiness and contentment category and lowest in envy, jealousy and selfishness [IMHO].
VMX42

[TooFastTim]

Lyle, the Zambians now look back (those who are old enough to) on British rule with great fondness.

[VMX247]

We all know that Interest rates rise when the economy booms.

Just In abc news
The Reserve Bank of Australia has cut interest rates for the first time since April 2009, offering borrowers a win on Melbourne Cup day.
The central bank eased the official cash rate by 25 basis points, down to 4.5 per cent.
In a statement, RBA governor Glenn Stevens said concerns about inflation and subdued domestic economic growth were behind the decision.
"With overall growth moderate, inflation now likely to be close to target and confidence subdued outside the resources sector, the Board concluded that a more neutral stance of monetary policy would now be consistent with achieving sustainable growth and 2 to 3 per cent inflation over time," Mr Stevens said.
Mr Stevens also suggested businesses and households may still be rattled by recent volatility on financial markets, despite the bailout deal sealed by European Union leaders last week.
"It is likely to be some time yet before concerns about the European situation can definitively be laid to rest and the effects of the recent turmoil on confidence may result in a period of precautionary behaviour by firms and households," he said.
Westpac was the first bank to pass on the full 25-basis point cut to borrowers.
Earlier, Assistant Treasurer Bill Shorten demanded that banks cut their rates in line with the central bank's decision.
"No question, pass it on in full," Mr Shorten told AM.
On Melbourne Cup day last year the RBA surprised investors with a 25-basis point rise in rates.

[motomaniac]

Moto,
You wealth is the difference between your debt and assets. So yes we can have both the highest wealth and highest debt.

But as you say, it is interesting to be at the top of both categories. Would be better to be at the top of the happiness and contentment category and lowest in envy, jealousy and selfishness [IMHO].
VMX42

everyone nows that our realestate is over valued and that the bubble can burst anytime.If its included then it's all pie in the sky.
The Kingdom of Bhutan does just that,they calculate the national happiness level ,wealth and GDP don't matter but then they have strict controls on visitors /tourists let alone foreigners taking resources and jobs.

[motomaniac]

We all know that Interest rates rise when the economy booms.

Just In abc news
The Reserve Bank of Australia has cut interest rates for the first time since April 2009, offering borrowers a win on Melbourne Cup day.
The central bank eased the official cash rate by 25 basis points, down to 4.5 per cent.
In a statement, RBA governor Glenn Stevens said concerns about inflation and subdued domestic economic growth were behind the decision.
"With overall growth moderate, inflation now likely to be close to target and confidence subdued outside the resources sector, the Board concluded that a more neutral stance of monetary policy would now be consistent with achieving sustainable growth and 2 to 3 per cent inflation over time," Mr Stevens said.
Mr Stevens also suggested businesses and households may still be rattled by recent volatility on financial markets, despite the bailout deal sealed by European Union leaders last week.
"It is likely to be some time yet before concerns about the European situation can definitively be laid to rest and the effects of the recent turmoil on confidence may result in a period of precautionary behaviour by firms and households," he said.
Westpac was the first bank to pass on the full 25-basis point cut to borrowers.
Earlier, Assistant Treasurer Bill Shorten demanded that banks cut their rates in line with the central bank's decision.
"No question, pass it on in full," Mr Shorten told AM.
On Melbourne Cup day last year the RBA surprised investors with a 25-basis point rise in rates.

Doesn't mean much.The RBA kept on raising the rate in 08 when the rest of the world was falling into recession,saying along with our PM and Treas that we had no problem then in an 8 week period around Aug/Sept they drastically reversed all the previous rate rise's and the Gov. started throwing money everywhere to try and stave off a recession

[VMX247]

Doesn't mean much.

It an extra set of decals on our bikes   

[motomaniac]

Doesn't mean much.

It an extra set of decals on our bikes   

hehe ,I can see your point but I won't be saving anything ,I get less $ since I dont owe anyone and have savings in the bank.

[EML]

From the report on the other thread re; MrVMX and the report from BMCC Nudgee last weekend the National Happiness Level jumped 10 fold in just our little worlds alone

[motomaniac]

From the report on the other thread re; MrVMX and the report from BMCC Nudgee last weekend the National Happiness Level jumped 10 fold in just our little worlds alone

http://www.nbntv.com.au/index.php/2011/10/30/mr-motocross-rides-again-in-the-hunter/

[TM BILL]

No doubts Bill. But the brits will be a tea party in relation to the Chinese.

Tim i removed my post as i thought it had little to do with this topic  i am ashamed of what the British did in Africa but its probably best left 

[TooFastTim]

Just pm'd you.