Australia VS China and the unpreventable recession

JulieW

JulieW

Well-Known Member
Silver Stacker
One we perhaps do not need to have, but will.

Australia Over the last 20 years, China has been viewed as the growth engine of the world, and justifiably so. With annual growth rates between 8% to 15%, China's economy was literally eating every rock, stalk and barrel of practically every commodity in the world.

And naturally, any country or company that produced these commodities made a tonne of money including Australia.

Today, China's growth rate has slowed to about 3% which is a dramatic slow down compared to what it achieved in the past. This slowdown and China's effort to even maintain these rates, will have significant repercussions around the world.

And the first up to bear the brunt of this slowdown is its closest supplier of raw materials Australia.

With dark clouds on the economic horizon, the Australian government and central bank is doing everything possible to prevent the unpreventable recession.

Interest rates have been reduced to all-time historical lows, meanwhile the Australian Dollar has plummeted -25% over the last year. Yet the negative outlook has not improved.


http://www.zerohedge.com/news/2015-08-15/crisis-spreading-china-australia-brazil-canada-sweden
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Old news.
Those with their eyes open were discussing this in 2013.

Guessing it's Abbott's fault?
 
Why his fault? This has been lining up for a while. I'd hand it to Howard, Costello, Rudd and Gillard. He might be too incompetent to address the issue though.
;)
 
JulieW said:
Why his fault? This has been lining up for a while. I'd hand it to Howard, Costello, Rudd and Gillard. He might be too incompetent to address the issue though.
;)
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Not as incompetent as those who believe a slowdown in China's economic growth is attributable to 4 Australian ex-politicians.
:lol: ;)
 
wrcmad said:
JulieW said:
Why his fault? This has been lining up for a while. I'd hand it to Howard, Costello, Rudd and Gillard. He might be too incompetent to address the issue though.
;)
Click to expand...
Not as incompetent as those who believe a slowdown in China's economic growth is attributable to 4 Australian ex-politicians.
:lol: ;)
Click to expand...


Something about eggs in one basket?
 
JulieW said:
wrcmad said:
JulieW said:
Why his fault? This has been lining up for a while. I'd hand it to Howard, Costello, Rudd and Gillard. He might be too incompetent to address the issue though.
;)
Click to expand...
Not as incompetent as those who believe a slowdown in China's economic growth is attributable to 4 Australian ex-politicians.
:lol: ;)
Click to expand...


Something about eggs in one basket?
Click to expand...
Er... mmmm?
Didn't realise it was the pollies' basket?
Although, I do remember Swannie & Juliar try to get their grubby mitts on the never-ending golden eggs via a mining tax, so they could fund their unfunded spending. Fail. ;)

However, don't despair.
If it's looking like a recession, any pollie could pull Krudd's world-saving trick of a 'stimulus bonus'... then we can all go and up-grade our big-screens, and no-one would even realise what catastrophe was just averted. :lol:
 
The government via the Treasure has the ability to pull a few levers to assist productivity, employment and diversifying the economy. Something they've steadily avoided since Keating globalised Australia. (not the best idea in my view - I like protectionism for employment and social harmony).

Now, despite Treasury's advice on pouring everything into a 'housing' economy, the pollies continue on, ignoring small business, and choosing instead, growing a bureaucracy that is unproductive and simply frustrates enterprise..
 
if you look at it as an opportunity to invest in commodities then the other side of it begins t look much rosier. The A$ is heading to 0.65 and we should be looking at ways to capitalise.
 
I lay the blame at a flawed Keynesian economic model that relies on ever expanding credit to function. That and dodgy transactional banking practices. Pollie regulations and central bank polices are playing their part in making things worse, but they are not solely responsible for the mess. You could make the argument that western governments adopted the Keynesian economic model so therefore they are to blame but that's neither here or there
 
wrcmad said:
JulieW said:
wrcmad said:
Not as incompetent as those who believe a slowdown in China's economic growth is attributable to 4 Australian ex-politicians.
:lol: ;)
Click to expand...


Something about eggs in one basket?
Click to expand...
Er... mmmm?
Didn't realise it was the pollies' basket?
Although, I do remember Swannie & Juliar try to get their grubby mitts on the never-ending golden eggs via a mining tax, so they could fund their unfunded spending. Fail. ;)

However, don't despair.
If it's looking like a recession, any pollie could pull Krudd's world-saving trick of a 'stimulus bonus'... then we can all go and up-grade our big-screens, and no-one would even realise what catastrophe was just averted. :lol:
Click to expand...
I notice you're still calling her juliar, when are you going to come up with a nickname for Abbott who has told way more lies?
Let me help you Tolie (pronounced to-lie) Abbott, Tony Fullofit (full-of-it).
Let me know what you end up with :)
 
col0016 said:
I notice you're still calling her juliar, when are you going to come up with a nickname for Abbott who has told way more lies?
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Are you sure? ;)
Or is that just what you've been told. :)
 
You fellas really need a count? At what number can we just agree that an individual can be considered pathologically deceitful?
 
''I know politicians are going to be judged on everything they say but sometimes in the heat of discussion you go a little bit further than you would if it was an absolutely calm, considered, prepared, scripted remark,'' he said.
''Which is one of the reasons why the statements that need to be taken absolutely as gospel truth [are] those carefully prepared, scripted remarks.
''Most of us know when we're talking to people, or listening to people, when we can put absolute weight on what's being said and when it's the give and take of standard conversation.''


Read more: http://www.smh.com.au/national/read...believe-everything-he-says-20100517-v9ge.html

p.s.
http://www.abbottslies.com.au/
has done all the work. But you have to keep in mind. Abbott is a politician.


Carefully scripted lies:

" No cuts to education, no cuts to health, no change to pensions, no change to the GST and no cuts to the ABC or SBS."
FRIDAY 6 September 2013
 
Caput Lupinum said:
I lay the blame at a flawed Keynesian economic model that relies on ever expanding credit to function. That and dodgy transactional banking practices. Pollie regulations and central bank polices are playing their part in making things worse, but they are not solely responsible for the mess. You could make the argument that western governments adopted the Keynesian economic model so therefore they are to blame but that's neither here or there
Click to expand...

Yep, no real scapegoats to be found. Sorry people.

All we can do is hopefully learn our lessons. And I'm not real confident that is going to happen.
 
wrcmad said:
col0016 said:
I notice you're still calling her juliar, when are you going to come up with a nickname for Abbott who has told way more lies?
Click to expand...
Are you sure? ;)
Or is that just what you've been told. :)
Click to expand...
It's just what I've been told by Abbott...
Something about not believing most of what he says because he just wants to win votes?

Edit: Julie was nice enough to give the actual quote above :)
 
col0016 said:
wrcmad said:
col0016 said:
I notice you're still calling her juliar, when are you going to come up with a nickname for Abbott who has told way more lies?
Click to expand...
Are you sure? ;)
Or is that just what you've been told. :)
Click to expand...
It's just what I've been told by Abbott...
Something about not believing most of what he says because he just wants to win votes?
Click to expand...
'Kay then.
Guess we'll go with the hunch. :P

62622019.jpg
 
Ok, please tell me which ones of these are not Abbott quotes :) Keep in mind that I don't necessarily disagree with his decisions (I agree with many), I'm just pointing out that he is a far bigger liar than Gillard.

"We are not shutting down any Medicare Locals" - before shutting them all down.
"No cuts to education, no cuts to health, no change to pensions, no change to the GST and no cuts to the ABC or SBS" - he literally cut all of them.
"There will be no deals with independents and minor parties" - too many deals to list. The latest is removing the ban on the Adler shotgun in a deal made with the LDP.
"There will be no surprises and no excuses from a Coalition Government." - all we hear are excuses.
"The last thing you are going to see from me are sudden backflips, sudden changes of heart." - lol

But Gillard did say that she wouldn't make a carbon tax, so that means she is a liar. Abbott is ok because he's on your side right?
 
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