Australia happy to help with euro crisis

[Big A.D.]

I love my country but I'm sure as hell wide awake enough to see that economically, our nation is a house of cards.

Yes it is quite frustrating constantly hearing the average sheeple on the street talk about how we faired well during the GFC. Sure it's technically true but its not like they make that comment based on any real thought or knowledge, they are just repeating what the tv box told them to think.

So true.

Like, for example, how nobody mentions that if all the other sectors of the economy were laying off workers at the same rate the mining industry was during 2008, we'd have a 16% unemployment rate.

Because, like, the mining industry saved us and must be protected from any taxes at all costs.

 

[renovator]

Pfft Australian cant even help itself and they think they are Mother Teresa all of a sudden.

Delusions of grandeur on the part of some in terms of Australia's financial position, or our economies resilience.

Almost the only reason we weren't hit bad in 2008 (public purse aside), was our almost total dependency on our mining industry (ie the Chinese still wanted our Iron ore and coal still went out) and our shallow markets for anything else (particularly manufacturing).

I love my country but I'm sure as hell wide awake enough to see that economicly, our nation is a house of cards.

Im not sure of china fell in a heap it would affect us as bad as people think japan korea & taiwan take more coal & a fair bit of iron ore to keep us afloat .Not to mention other commodities that we sell to other countries Like LNG sugar wheat etc.Were definately not a one trick pony as a lot of you believe

http://www.rba.gov.au/publications/bulletin/2011/mar/1.html

 

[Shaddam IV]

Pfft Australian cant even help itself and they think they are Mother Teresa all of a sudden.

Delusions of grandeur on the part of some in terms of Australia's financial position, or our economies resilience.

Almost the only reason we weren't hit bad in 2008 (public purse aside), was our almost total dependency on our mining industry (ie the Chinese still wanted our Iron ore and coal still went out) and our shallow markets for anything else (particularly manufacturing).

I love my country but I'm sure as hell wide awake enough to see that economicly, our nation is a house of cards.

Im not sure of china fell in a heap it would affect us as bad as people think japan korea & taiwan take more coal & a fair bit of iron ore to keep us afloat .Not to mention other commodities that we sell to other countries

http://www.rba.gov.au/publications/bulletin/2011/mar/1.html

Except that the traitors in parliament just loaded two new supertaxes onto our coal and iron ore in order to make us uncompetative. China will likely start burning their black coal instead of our cleaner burning brown coal, thus increasing pollution while sending Australia's economy into dive. And on top of that Gillard will send 10% of the carbon dioxide tax revenue to the U.N, where it will of course be used to buy weapons and to fund wars. This government couldn't be more destructive if they tried.

 

[renovator]

Delusions of grandeur on the part of some in terms of Australia's financial position, or our economies resilience.

Almost the only reason we weren't hit bad in 2008 (public purse aside), was our almost total dependency on our mining industry (ie the Chinese still wanted our Iron ore and coal still went out) and our shallow markets for anything else (particularly manufacturing).

I love my country but I'm sure as hell wide awake enough to see that economicly, our nation is a house of cards.

Im not sure of china fell in a heap it would affect us as bad as people think japan korea & taiwan take more coal & a fair bit of iron ore to keep us afloat .Not to mention other commodities that we sell to other countries

http://www.rba.gov.au/publications/bulletin/2011/mar/1.html

Except that the traitors in parliament just loaded two new supertaxes onto our coal and iron ore in order to make us uncompetative. China will likely start burning their black coal instead of our cleaner burning brown coal, thus increasing pollution while sending Australia's economy into dive. And on top of that Gillard will send 10% of the carbon dioxide tax revenue to the U.N, where it will of course be used to buy weapons and to fund wars. This government couldn't be more destructive if they tried.

Did you actually look at the link & see how much coal china actually buys ?scroll down the page in the link & see how small it is compared to other countries They buy a lot of iron ore not coal

 

[Shaddam IV]

Im not sure of china fell in a heap it would affect us as bad as people think japan korea & taiwan take more coal & a fair bit of iron ore to keep us afloat .Not to mention other commodities that we sell to other countries

http://www.rba.gov.au/publications/bulletin/2011/mar/1.html

Except that the traitors in parliament just loaded two new supertaxes onto our coal and iron ore in order to make us uncompetative. China will likely start burning their black coal instead of our cleaner burning brown coal, thus increasing pollution while sending Australia's economy into dive. And on top of that Gillard will send 10% of the carbon dioxide tax revenue to the U.N, where it will of course be used to buy weapons and to fund wars. This government couldn't be more destructive if they tried.

Did you actually look at the link & see how much coal china actually buys ?scroll down the page in the link & see how small it is compared to other countries They buy a lot of iron ore not coal

Looks like about 17 million tons of thermal coal in 2010 on a graph that is climbing hard, at that rate it will be one 20 million tons this year. Not much by China's standards, but a lot for our economy. And don't forget that the mining tax and the carbon tax will impact coal prices for all of our customers, especially the big ones, Japan, South Korea and Taiwan.

 

[renovator]

Its just my opinion but i think way too much emphasis is put on what happens in china & if it tanks we go with it. Thats simply not the case .It will have an effect sure but just because it goes doesnt mean we go with it .

Australia is in a better position than most countries because we have the commodities . There is no need to import like most other countries we have coal iron ore bauxite LNG LPG wheat sugar gold silver lead tin among a lot of other things that we can sell or use & until they are depleted we are in a better position than most .

We could if we wanted be self sufficient with no help from other nations & there will always be someone wanting something we have . We have all the good stuff they want . Even if the world tanks there will be some country buying our goods enough to keep us ticking over it might not be the boom were experiencing now but enough to keep us afloat.

 

[renovator]

No way in hell should australia put any money towards helping Euro banks. Wayne Swan didn't actually say we would give them cash, just 'assistance', hopefully that means he can give them his expert advice for free .
If we get involved in any euro bailout, I will be out in the streets protesting!

I think we should help as many countries as we can while we are doing so well .any country indebted to us will have to return the favour at a later date &/or repay the debt . It will help australia in the future .It will help oz through times of uncertainty in the future.Remember the person lending the money can pull the strings .Much like the US has been doing for years until recently. I would love to see australia have more influence through debt .
The world has finally recognized the importance of Australia in the world stage hence our strong $AUD....About time i say. It wont last forever so we should use it while we have it.

 

[lucky luke]

Just to clarrify my original comment, I purposely indicated "....mining industry (ie the Chinese still wanted our Iron ore and coal still went out)" I did not say the Chinese still wanted our Iron ore AND coal. Our mining in industry is mostly Iron Ore and Coal of which the Chinese buy a significant amount of our Iron Ore and others buy a significant amount of our coal. My short three line comment was suggesting that our current "economic strength" is premised/based too heavily upon the mining industry. I wasn't looking to split hairs about who buys our coal and how much.

 

[AndyRoo68]

No way in hell should australia put any money towards helping Euro banks. Wayne Swan didn't actually say we would give them cash, just 'assistance', hopefully that means he can give them his expert advice for free .
If we get involved in any euro bailout, I will be out in the streets protesting!

I think we should help as many countries as we can while we are doing so well .any country indebted to us will have to return the favour at a later date &/or repay the debt . It will help australia in the future .It will help oz through times of uncertainty in the future.Remember the person lending the money can pull the strings .Much like the US has been doing for years until recently. I would love to see australia have more influence through debt .
The world has finally recognized the importance of Australia in the world stage hence our strong $AUD....About time i say. It wont last forever so we should use it while we have it.

It's all good lending money to someone who can repay it, but greece, Portugal, Spain, Italy are virtually bankrupt - got nearly zero chance of ever getting the money back. Charity begins at home, if we want to give money away I would rather see it given away here in Australia.

 

[lucky luke]

No way in hell should australia put any money towards helping Euro banks. Wayne Swan didn't actually say we would give them cash, just 'assistance', hopefully that means he can give them his expert advice for free .
If we get involved in any euro bailout, I will be out in the streets protesting!

I think we should help as many countries as we can while we are doing so well .any country indebted to us will have to return the favour at a later date &/or repay the debt . It will help australia in the future .It will help oz through times of uncertainty in the future.Remember the person lending the money can pull the strings .Much like the US has been doing for years until recently. I would love to see australia have more influence through debt .
The world has finally recognized the importance of Australia in the world stage hence our strong $AUD....About time i say. It wont last forever so we should use it while we have it.

In the same way that we have a "thank you" button at the bottom of posts which we can click to add some measure of support for the statement, the forum could benefit from another button that indicates rejection of a comment.

 

[renovator]

No way in hell should australia put any money towards helping Euro banks. Wayne Swan didn't actually say we would give them cash, just 'assistance', hopefully that means he can give them his expert advice for free .
If we get involved in any euro bailout, I will be out in the streets protesting!

I think we should help as many countries as we can while we are doing so well .any country indebted to us will have to return the favour at a later date &/or repay the debt . It will help australia in the future .It will help oz through times of uncertainty in the future.Remember the person lending the money can pull the strings .Much like the US has been doing for years until recently. I would love to see australia have more influence through debt .
The world has finally recognized the importance of Australia in the world stage hence our strong $AUD....About time i say. It wont last forever so we should use it while we have it.

In the same way that we have a "thank you" button at the bottom of posts which we can click to add some measure of support for the statement, the forum could benefit from another button that indicates rejection of a comment.

Yeah & we should have a huge rubber hand that comes out of your pc that slaps smartarses that make stupid comments about peoples posts instead of addressing the topic :lol:

 

[lucky luke]

Yeah & we should have a huge rubber hand that comes out of your pc that slaps smartarses that make stupid comments about peoples posts instead of addressing the topic :lol:

The topic was directly addressed in the implied rejection of your opinion/stance. Perhaps I should have spoken your own language and rejected it directly with a "crap" or "rubbish". My suggestion of a counter button to the "thank you" is re-enforced by your self-defencive, and apparently ill mannered response. I will stay on topic by simply re-enforcing a counterstance to your opinion.

With all due respect to you (ie the measure of respect you are due), your insult is clearly noted and given the response it too is due..........................

 

[Big A.D.]

Yeah & we should have a huge rubber hand that comes out of your pc that slaps smartarses that make stupid comments about peoples posts instead of addressing the topic :lol:

/me thinks: Whoever invents a method for punching people over the internet is going to be richer than Bill Gates...

 

[errol43]

Delusions of grandeur on the part of some in terms of Australia's financial position, or our economies resilience.

Almost the only reason we weren't hit bad in 2008 (public purse aside), was our almost total dependency on our mining industry (ie the Chinese still wanted our Iron ore and coal still went out) and our shallow markets for anything else (particularly manufacturing).

I love my country but I'm sure as hell wide awake enough to see that economicly, our nation is a house of cards.

Im not sure of china fell in a heap it would affect us as bad as people think japan korea & taiwan take more coal & a fair bit of iron ore to keep us afloat .Not to mention other commodities that we sell to other countries

http://www.rba.gov.au/publications/bulletin/2011/mar/1.html

Except that the traitors in parliament just loaded two new supertaxes onto our coal and iron ore in order to make us uncompetative. China will likely start burning their black coal instead of our cleaner burning brown coal, thus increasing pollution while sending Australia's economy into dive. And on top of that Gillard will send 10% of the carbon dioxide tax revenue to the U.N, where it will of course be used to buy weapons and to fund wars. This government couldn't be more destructive if they tried.

Jonesy.. Are you sure that brown coal is cleaner to burn than black coal?

Errol 43

 

[Shaddam IV]

Im not sure of china fell in a heap it would affect us as bad as people think japan korea & taiwan take more coal & a fair bit of iron ore to keep us afloat .Not to mention other commodities that we sell to other countries

http://www.rba.gov.au/publications/bulletin/2011/mar/1.html

Except that the traitors in parliament just loaded two new supertaxes onto our coal and iron ore in order to make us uncompetative. China will likely start burning their black coal instead of our cleaner burning brown coal, thus increasing pollution while sending Australia's economy into dive. And on top of that Gillard will send 10% of the carbon dioxide tax revenue to the U.N, where it will of course be used to buy weapons and to fund wars. This government couldn't be more destructive if they tried.

Jonesy.. Are you sure that brown coal is cleaner to burn than black coal?

Errol 43

Errol I have heard this mentioned many times in the media, but maybe I am being fool and believing the press.

 

[hiho]

victorian brown coal is 26% efficent I dont know what black coal is.

 

[LovingtheSilver]

Not that it has been confirmed, but why offer monetary assistance to Europe PIGS when it is a total lost cause and a farce? Like others have said, why send more money down the toilet when they can't pay back.. other than swannie big noting himself on the international stage, kind of like Julia giving Indonesia 500 mill not long after she became PM.
Call me selfish if you want but as far as I'm concerned we get used enough, too much funds go into others pockets. If we are lucky to be 'well off' or whatever word you want to use then that's our good fortune... I don't think we got it for free.... How many countries are older than ours? If they haven't got their shit together by now then that's their problem, not ours.

 

[Big A.D.]

kind of like Julia giving Indonesia 500 mill not long after she became PM.

Indonesia has 200 million Muslims.

They either develop a secular education system using some of our money or the kids end up in madrasahs sponsored by Jemaah Islamiah being taught how evil Western countries like Australia are and why they deserve to be bombed.

 

[jpanggy]

Its just my opinion but i think way too much emphasis is put on what happens in china & if it tanks we go with it. Thats simply not the case .It will have an effect sure but just because it goes doesnt mean we go with it .

Australia is in a better position than most countries because we have the commodities . There is no need to import like most other countries we have coal iron ore bauxite LNG LPG wheat sugar gold silver lead tin among a lot of other things that we can sell or use & until they are depleted we are in a better position than most .

We could if we wanted be self sufficient with no help from other nations & there will always be someone wanting something we have . We have all the good stuff they want . Even if the world tanks there will be some country buying our goods enough to keep us ticking over it might not be the boom were experiencing now but enough to keep us afloat.

Good points, but we don't have the refining and manufacturing part. So, we export raw material and import back produced goods from all over the world. hence our ongoing current account deficit that has gone on for decades.

So, if we were to be self sufficient, Govt actually need to setup a nationalised manufacturing or subsidised manufacturing and refining.

Either way, we are indirectly reliant on europe and america, because they are China's biggest customers. Without customers, no demands for goods, no demands for raw materials. Our export is directly reliant on China.

Our GDP on the other hand, relies mostly on service industry (of which Real Estate is a part of). A dying RE will do more to us than a Chinese slow down, however it is all tied together by consumer sentiment. If all parts of economy good, then everything up all the time. If most part of economy is crap, then no spending and deflation and bye bye asset price (PM included).

 

[nonrecourse]

Not that it has been confirmed, but why offer monetary assistance to Europe PIGS when it is a total lost cause and a farce? Like others have said, why send more money down the toilet when they can't pay back.. other than swannie big noting himself on the international stage, kind of like Julia giving Indonesia 500 mill not long after she became PM.
Call me selfish if you want but as far as I'm concerned we get used enough, too much funds go into others pockets. If we are lucky to be 'well off' or whatever word you want to use then that's our good fortune... I don't think we got it for free.... How many countries are older than ours? If they haven't got their shit together by now then that's their problem, not ours.

It wasn't so many years ago that those European PIIGS were over here lecturing us on free trade !!!!! Between the septic tanks (Yanks) and the PIIGS rorting trade since the 1970's give them a helping hand? Ya lets sell them our frozen REIT's (Real Estate Investment Trusts) they could use it as ballast when their banks fail

Kind Regards
non recourse