Australia: In for huge troubles?

[Jakexe]

you realise there was no debt before labor got in right

Not sure where I mentioned anything about debt. And yeah, I knew that Labor has made some tough decisions and that creates debt. The Howard era was lucky enough to come in after Keating created huge growth in the market.

[Riavan]

Not sure where I mentioned anything about debt. And yeah, I knew that Labor has made some tough decisions and that creates debt. The Howard era was lucky enough to come in after Keating created huge growth in the market.

Oh lord, I thought you were being sarcastic.
Labour has never done a good job with finance. The liberals do, thats why they're called conservative.
The reason we're not in trouble now is because of our industries, not because of anything Wayne Swan has done.
All labour has done since get in, is waste the surplus we had from Howard and Costello.

[Jakexe]

I'm pretty sure he was being sarcastic about Wayne Swan.

Wasn't actually, he was voted as world's greatest treasury by some oversea's magazines. Doesn't mean I agree with it but you can't say Labor didn't handle the world wide recession badly.

[Riavan]

Wasn't actually, he was voted as world's greatest treasury by some oversea's magazines. Doesn't mean I agree with it but you can't say Labor didn't handle the world wide recession badly.

I can't say they handled it well, besides waste all our surplus.
Whether we were actually going to ever go into a recession like the USA/UK etc is a different story, we have a very strong mining industry and exports to China. There's no evidence that anything Wayne Swan or Labour did actually helped at all.
Some minor overseas scrap mag just wanted a story, he's not special, they basically hid him last election because he was so hated.

[Airwaves]

Australia is in a MASSIVE mining boom atm. There is so much money coming into the country there is no way is hell we are going bad any time soon. In fact the government atm has been taxing the mining companies and putting the money back into everyone's pocket. The OP has no clue what his is talking about. Also the guy that said the average home is 600k is so wrong its not funny. More like 300k/450k since housing prices are down atm. In fact i was at an auction a few weeks ago at a place with ocean view that was about average size that only went for $315k. My place is 5 bedrooms, 3 bathroom, big 2 car garage, massive open living area with very very nice ocean AND mountain range views from a head land and its only worth 850k.

With the amount of money going into Australia we are safe for a long time yet.

[Jakexe]

Oh lord, I thought you were being sarcastic.
Labour has never done a good job with finance. The liberals do, thats why they're called conservative.
The reason we're not in trouble now is because of our industries, not because of anything Wayne Swan has done.
All labour has done since get in, is waste the surplus we had from Howard and Costello.

Oh don't get me wrong, I think Labor are a fucking joke atm but I'd still vote for them simply because I'm terrified of what this country will become under Abbott, the guy is inept.

[Riavan]

Australia is in a MASSIVE mining boom atm. There is so much money coming into the country there is no way is hell we are going bad any time soon. In fact the government atm has been taxing the mining companies and putting the money back into everyone's pocket. The OP has no clue what his is talking about. Also the guy that said the average home is 600k is so wrong its not funny. More like 300k/450k since housing prices are down atm. In fact i was at an auction a few weeks ago at a place with ocean view that was about average size that only went for $315k. My place is 5 bedrooms, 3 bathroom, big 2 car garage, massive open living area with very very nice ocean AND mountain range views from a head land and its only worth 850k.

With the amount of money going into Australia we are safe for a long time yet.

Indeed, at least 10-20 years till the mines run out.

[Kuthe]

My parents bought the house they live in in the 90s for $250,000. It is now worth over a million.
If things continue like this, I won't be planning on living in Australia for my life, I'll be heading to America or Europe.

It's insane, and we really cop it bad, even though we aren't in the negative, unlike everyone else.
I hope stuff gets sorted, but with our parliament, I don't expect it to change.

[Riavan]

Oh don't get me wrong, I think Labor are a fucking joke atm but I'd still vote for them simply because I'm terrified of what this country will become under Abbott, the guy is inept.

More inept than Julia Gillard though? Remember Abbott won't be the finance minister.

My parents bought the house they live in in the 90s for $250,000. It is now worth over a million.
If things continue like this, I won't be planning on living in Australia for my life, I'll be heading to America or Europe.

It's insane, and we really cop it bad, even though we aren't in the negative, unlike everyone else.
I hope stuff gets sorted, but with our parliament, I don't expect it to change.

Similarily, my parents got a house for 300k, thats now worth close to 1mil.

But yeah average apartment prices are around the 300-400k mark in the cities. Don't really know about houses, I assume more.

[nyc81991]

Currency is just another way of assigning a value to things. People's mental hangups about money are their problem, not a flaw of money.

Unless you're talking about pure barter, there'll always be an abstract valuing counter. Arguably there even is with barter, it's just it's totally non-numerical & internalised there.

What I am thinking of is a system where we have good education (much better rounded than what we have now) for everyone and people could make job decisions based on what they would like doing and will be good at. Everyone doing those jobs would benefit other people, Which happens to benefit the individual a lot more because everyone is working together to ensure success, growth and survival.

No one would be "forced" to do anything, but choosing to sit around doing nothing and being lazy wouldn't be an option if they expected any benefits from the population. Now here is where some people might say "how could you just let people not have things", Well here is my question / answer to that. How many people don't have anything in the world right now? And how many of those people choose to not have anything? I would bet that if most of the people who have no money or little to survive with had a choice they would get an education and work as something they want to be.

This is just an idea and I am not saying that it will or needs to happen. However one thing is for sure, The world isn't in a very good place right now and there needs to be change. Whether in a big way or on a smaller scale, something needs to be done.

[Kivimetsan]

Wasn't actually, he was voted as world's greatest treasury by some oversea's magazines. Doesn't mean I agree with it but you can't say Labor didn't handle the world wide recession badly.

Yeah by the same magazine that voted goldman sachs or one of those big banks that caused the 08 collapse, as the best business of 08.

That magazine if just a load of crap.

Also this is his education: public administration[4] at the University of Queensland, becoming a lecturer in the Department of Management - Wikipedia.

Shit son, he has some awesome economic experience, because he has totally worked in the public sector and knows how things work *sarcasm*

The sad truth is: he is just one of those kids you hated in high school because he was class captain or whatever. He has no economic experience and is a professional politician, e.g. hes just some kid playing monopoly.

[Kuthe]

Australia is in a MASSIVE mining boom atm. There is so much money coming into the country there is no way is hell we are going bad any time soon. In fact the government atm has been taxing the mining companies and putting the money back into everyone's pocket. The OP has no clue what his is talking about. Also the guy that said the average home is 600k is so wrong its not funny. More like 300k/450k since housing prices are down atm. In fact i was at an auction a few weeks ago at a place with ocean view that was about average size that only went for $315k. My place is 5 bedrooms, 3 bathroom, big 2 car garage, massive open living area with very very nice ocean AND mountain range views from a head land and its only worth 850k.

With the amount of money going into Australia we are safe for a long time yet.

Erm, I'm guessing you live in Western Australia, and have never looked at what's happening in East Australia at all.
East doesn't have the mining boom, our housing prices are insane!

[Imhotep]

It pains me to think that you actually believe these articles. Anyone living in Australia and WA especially would know we're set for the next century at least on our resources alone. When those are through, the untapped resources such as Uranium in SA/NT (40% of the worlds supply atm is in Australia) will create even bigger booms.

Erm, I'm guessing you live in Western Australia, and have never looked at what's happening in East Australia at all.
East doesn't have the mining boom, our housing prices are insane!

That's too bad, the east side seems to be happy on getting rich at WA's expense, why should we show any sympathy?

[Kivimetsan]

What I am thinking of is a system where we have good education (much better rounded than what we have now) for everyone and people could make job decisions based on what they would like doing and will be good at. Everyone doing those jobs would benefit other people, Which happens to benefit the individual a lot more because everyone is working together to ensure success, growth and survival.

No one would be "forced" to do anything, but choosing to sit around doing nothing and being lazy wouldn't be an option if they expected any benefits from the population. Now here is where some people might say "how could you just let people not have things", Well here is my question / answer to that. How many people don't have anything in the world right now? And how many of those people choose to not have anything? I would bet that if most of the people who have no money or little to survive with had a choice they would get an education and work as something they want to be.

This is just an idea and I am not saying that it will or needs to happen. However one thing is for sure, The world isn't in a very good place right now and there needs to be change. Whether in a big way or on a smaller scale, something needs to be done.

Yeah that system is kind of like anarcho communism... doesn't work. Only things that work (imho) are true capitalism with limited or no government at all (either libertarian or anarcho capitalism).

People think that the world will be ruled by corporations, but what they forget is that there is no government to assist in there monopolies and no government to bail them out. They survive by people buying there shit, if people think that they're corrupt, they wont buy from them and they will collapse.

My economics lecturer told me that no monopoly can ever exist, because people will always find someone else to buy from and even though he is a massive government loving socialist, he is entirely right... gotta love the free market

---------- Post added 2012-05-14 at 10:10 PM ----------

It pains me to think that you actually believe these articles. Anyone living in Australia and WA especially would know we're set for the next century at least on our resources alone. When those are through, the untapped resources such as Uranium in SA/NT (40% of the worlds supply atm is in Australia) will create even bigger booms.



That's too bad, the east side seems to be happy on getting rich at WA's expense, why should we show any sympathy?

The West should just succeed from the commonwealth, they would be much better off (no sarcasm).

Watch how us east coasters start fighting each other for the scraps that are left over...

[Jakexe]

More inept than Julia Gillard though? Remember Abbott won't be the finance minister.

Simply put, yes. I just can't see Abbott as a leader, put Turnbull as leader and jeez even Hockey and my vote might swing. But Abbott has been overly negative, hasn't put forward any real policies, hasn't given a viable budget, is a religious zealot, sexist and all around an unpleasant person.

[Kivimetsan]

I'm pretty sure he was being sarcastic about Wayne Swan.



You realise we all have to vote right? Legally. You do actually live in Australia, no?

If you actually read what I was saying, I meant we need to change the voting system to a voluntary system.

---------- Post added 2012-05-14 at 10:12 PM ----------

Simply put, yes. I just can't see Abbott as a leader, put Turnbull as leader and jeez even Hockey and my vote might swing. But Abbott has been overly negative, hasn't put forward any real policies, hasn't given a viable budget, is a religious zealot, sexist and all around an unpleasant person.

I dont like any of them tbh.

Id much rather the Liberals in control than labor who only thinks about welfare and debt procurement.

We need the Liberal Democrats to get elected, they're such an awesome party

[Crackleslap]

Erm, I'm guessing you live in Western Australia, and have never looked at what's happening in East Australia at all.
East doesn't have the mining boom, our housing prices are insane!

Have you looked at Queensland?

[Imhotep]

Yeah that system is kind of like anarcho communism... doesn't work. Only things that work (imho) are true capitalism with limited or no government at all (either libertarian or anarcho capitalism).

People think that the world will be ruled by corporations, but what they forget is that there is no government to assist in there monopolies and no government to bail them out. They survive by people buying there shit, if people think that they're corrupt, they wont buy from them and they will collapse.

My economics lecturer told me that no monopoly can ever exist, because people will always find someone else to buy from and even though he is a massive government loving socialist, he is entirely right... gotta love the free market

---------- Post added 2012-05-14 at 10:10 PM ----------



The West should just succeed from the commonwealth, they would be much better off (no sarcasm).

Watch how us east coasters start fighting each other for the scraps that are left over...

Well then you'd be hitching onto the back of Queensland's mining and future mining sites in SA. There's almost nothing in NSW/VIC afaik. Tasmania may as well not exist lol

[Kivimetsan]

Well then you'd be hitching onto the back of Queensland's mining and future mining sites in SA. There's almost nothing in NSW/VIC afaik. Tasmania may as well not exist lol

Yeah lol.

Also how will any aussie states exist if there are no customers to buy our resources? If USA stops buying from China or China just stops selling to them, and doesn't need our resources, we may as well just kill ourselves now :P

[Imhotep]

Yeah lol.

Also how will any aussie states exist if there are no customers to buy our resources? If USA stops buying from China or China just stops selling to them, and doesn't need our resources, we may as well just kill ourselves now :P

It's ok WA has a lot of wheat and barley
We'll get drunk like it's 1999