Australia: Economic Growth Longest Of Any Nation

This month Australia is marking 21 years without a recession, which the statistics say is a record for any nation of any time. The article also says:

Mr Richard tipped Australia's growth to continue.
"Australia is expected to be in the next decade exactly what we were in the last decade - the fastest growing rich nation in the world," he said.
He said during the last decade Australia's economy had begun to resemble that of the Asian tigers.

While Europe and North America are facing economic armageddon, Australia has barely flinched. No wonder the IMF named Wayne Swan as the World's best treasurer, and have decided to set the G20 here in 2014...

www.news.com.au...

Way to go Australia!!!

Its odd that I hear reports of huge inflation in Australia on cost of living when the economy is doing so well. Is there a reason for that?

Give the carbon tax time to kick in .

Originally posted by Max_TO
Give the carbon tax time to kick in .

And the thing is, is that Julia Gillard will be blamed for pushing us into recession, and rightfully so, election NOW!!

Originally posted by michael1983l
Its odd that I hear reports of huge inflation in Australia on cost of living when the economy is doing so well. Is there a reason for that?

Its the carbon tax, thank Julia Gillard for that.

reply to post by CrimsonKapital


Australia HAS faced a recession, back in the late 1980s and again in 2008.

The Australian economy only appears to look good thanks to the mining industry, other than that hard times is already hitting the doors of thousands of families.

Australia is not immune to whats going on globally, I've suggested to friends to get their debts paid by year's end because come mid to late 2013 it's all down from there. Australia usually follows soon after Canada.

reply to post by michael1983l


The property market is approx 30% more than it's worth over here. One can't only blame Gizzard, we have some VERY very greedy landlords and businesses in Australia. Apparel alone is approx 400%-1000% after cost and now they're complaining because the public has already hit the internet buying overseas for much cheaper deals.

Wonder why so many of my friends can't find decent work then & why are people still loosing their jobs by the thousands.

Thank god for China and their ghost cities otherwise we would be up the crapper like the rest of the world.
Wayne swan, if he is the worlds best then no wonder the world economy is so crap.

Just an excuse for the polies to get a pay rise that equals more than a lot of Aussies earn a year while those of us who don't have a 150K mining job suck it.

reply to post by WorkingClassMan


If your friends can't find decent work then I suggest they head for the mining industry where there are plenty of jobs available. It's not for everyone but there sure are alot of Aussies complaining about the amount of Kiwis coming over here for those jobs the Aussies don't want.

reply to post by CrimsonKapital

This month Australia is marking 21 years without a recession, which the statistics say is a record for any nation of any time.

Utter BS.

Keating gave us the recession we had to have

We had another one around the GFC

Gillard will put us in another one shortly

Our economic growth has nothing to do with any government, they have all tried their best to destroy it.

Australia would still have economic growth if we had a platypus as Prime Minister (hey, wait a second?!?…..)

Mickierocksman

What utter garbage.All you need to do is to look at the phone books.Up until last year here in the Gold Coast we had two yellow pages(business) both 3 inches thick,and the white pages (personal/ homes) about an inch thick.
Now all three are combined in one book about and inch and a half thick.
You don't need to be a genius to see how many businesses have gone.Drive around the industrial estates, 2 of 3 are either forsale/lease or empty.That is a horrendous amount of businesses closed and jobs lost.
As for the minning boom,Rubbish! Up until a month ago I worked for CPG Mineral technology,part of Downer Group,the largest Minning Company in the Country.They layed off heaps of us,but hey that didn't make the paper's now did it.There has never been a minning boom,just manipulators of the futures market.Time everybody wakes up,this country is dying.

Originally posted by bluemirage5
reply to post by WorkingClassMan

 

If your friends can't find decent work then I suggest they head for the mining industry where there are plenty of jobs available. It's not for everyone but there sure are alot of Aussies complaining about the amount of Kiwis coming over here for those jobs the Aussies don't want.

Rubbish! Up until a month ago I worked for CPG Mineral technology,part of Downer Group,the largest Minning Company in the Country.They layed off heaps of us,but hey that didn't make the paper's now did it.There has never been a minning boom,just manipulators of the futures market.

Originally posted by bluemirage5
reply to post by michael1983l

 

The property market is approx 30% more than it's worth over here. One can't only blame Gizzard, we have some VERY very greedy landlords and businesses in Australia. Apparel alone is approx 400%-1000% after cost and now they're complaining because the public has already hit the internet buying overseas for much cheaper deals.

I agree Australia is still trying to inflate the housing/rental bubble but I am closely associated with the clothing industry and that figure is not correct.

Originally posted by bluemirage5
reply to post by WorkingClassMan

 

If your friends can't find decent work then I suggest they head for the mining industry where there are plenty of jobs available. It's not for everyone but there sure are a lot of Aussies complaining about the amount of Kiwis coming over here for those jobs the Aussies don't want.

They are not Cambodian so they can't get a job there either.

I remember when the mines were on tv saying they couldn't give away 120K jobs, I travelled from Brisbane to cape york and couldn't get 1 job offer it was crap.

P.S I am a qualified mechanic/diesel fitter and have lots of experience in sales and instrument technology the very people they were "supposedly screaming for" and a clean record, health etc and was knocking on the door saying here I am.

reply to post by 13th Zodiac


Please explain? There has never been a mining boom are you srs, those who got laid of were probably replaced the next week by subcontracted companies who imported someone cheaper.

Originally posted by magma
reply to post by CrimsonKapital

 

This month Australia is marking 21 years without a recession, which the statistics say is a record for any nation of any time.

Utter BS.

Keating gave us the recession we had to have

We had another one around the GFC

Gillard will put us in another one shortly

Yes the Keating recession was back in 1991.

Australia was the only Western country NOT to go into recession in 2008 Financial Crisis, but I agree that we are headed for a future recession.

So 2012 minus 1991 (last recession) equals 21 years of recession free....

Originally posted by michael1983l
Its odd that I hear reports of huge inflation in Australia on cost of living when the economy is doing so well. Is there a reason for that?

Yes, yes there is. There are several names for it, the most notable one being 'dictatorship', or as the politically correct like to call it, 'the nanny state mentality'.

Watch the old classic 'Metropolis' and you'll see what Australia is becoming.

Inflation is disgusting here but don't worry, rest assured the ruling elite - and our overfed politicians - are all quite comfy

Originally posted by michael1983l
Its odd that I hear reports of huge inflation in Australia on cost of living when the economy is doing so well. Is there a reason for that?

Well yes there is. It's all covered here in this chapter of Chris Martenson's "Crash Course". In a nutshell, our governments have been fudging the numbers for years now creating a virtual reality credibility backstop. This is a fascinating lesson about "hedonics", the the term for number fudging.

How the fuzzy numbers of economic statistics are made