By: ancientsong
4/06/2009
11:57 am Yahoo! Profile:
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growth has occured recently in the Australian economy but how has it occured? by goverment spending and debt,
the whole reason for the Finacial crisis is debt and borrowing money to consume,
if debt caused the crisis, going into more debt isn't gonna fix it..
this recession is like a hangover, the boom times was the Friday night out binge drinking and now we have to suffer a bit to return back to a normal economy,
drinking more alcohol dosen't cure a hangover, the same as going into more debt dosen't cure a debt created problem.
we haven't had real growth and prosperity in this counrty for a while now, the golden years of australia were 1945 to 1965, we had 2% unemployment, a steady rate of growth with low house hold debt.
ever since then growth has been occuring but household debt has been growing just as fast from the 1970's up until the present...
our politicians always look at growth but don't look at the debt rising along with that growth,
in 2007 20% of consumer demand came from debt, if you take that 20% of debt driven consumption out of the picture, there a large fall in demand..
and this is another reason why high house prices effect the economy negatively...by using more and more of your disposable income on paying off your mortgage, you have less to spend on other things which weakens the demand in the economy thus creating more unempolyment.. |
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By: abacus_motel
4/06/2009
11:30 am Yahoo! Profile:
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| Rather than pat this pathetic government on the back, note that THEY are the most pessimistic purveyors of doom to put all the blame on external circumstances. |
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By: wealthforlife@rocketmail.com
4/06/2009
9:44 am Yahoo! Profile:
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I like annoying negative posters with positive info re the current economy,eg
3rd Jun 2009
The Australian economy expanded by 0.4 per cent in the March quarter, meaning we are not in a recession! Technically a recession is two consecutive quarters of economic contraction, so these latest figures prove that our country was never actually in the recession that all the doom and gloom 'experts' said we were.
The Australian economy was certainly affected by the global financial crisis but it is clear that it has avoided the sort of downturn experienced by other major developed economies. Much of the credit for Australia,s resilience must be given to the swift actions of the Reserve Bank and the Government in stimulating our economy.
Some words of wisdom from the experts at CommSec who have consistently been a source of positive opinion -
Gloom and doom reports in the media almost caused Australians to talk themselves into recession. The important thing now is that commentary and analysis of our economic situation becomes more balanced. While the tough times abroad must be acknowledged, the strong position of our economy must be similarly recognised.
One thing is clear , Australia went close to talking itself into recession. Our economic conditions were nowhere near as bad as other parts of the globe, but somehow we all thought they were as bad. If Australians focus on the opportunities that lie ahead then the rebound could be much quicker and stronger than envisaged only a month ago.
CommSec expects the Australian economy to rebound far quicker than Federal Treasury. In 2008/09 the economy will probably grow by only 0.6 per cent, but 2.1 per cent growth is tipped for 2009/10 and 4.1 per cent growth is expected in 2010/11.
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By: wealthforlife@rocketmail.com
3/06/2009
6:57 pm Yahoo! Profile:
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DONT WORRY STEVE,THIS SHOULD CHEER YOU UP!
OR ANNOY THE CR P OUT OF YOU!
Govt: Positive growth for the Australian economy
3rd Jun 2009
Today's National Accounts show the Australian economy has outperformed every other advanced economy in the March quarter, recording positive growth in the face of a savage global recession.
GDP rose by 0.4 per cent in the March quarter to be 0.4 per cent higher through the year, boosted by early and substantial policy actions by the Rudd Government and the Reserve Bank.
This positive outcome is a testament to Australia's resilience amid the global recession, and compares starkly with nearly all other advanced economies.
Of the other 22 OECD economies that have reported March quarter outcomes, 20 have contracted. G7 economies contracted by an average of 2.2 per cent in the March quarter.
Despite broader weakness in the economy, household consumption spending rose 0.6 per cent in the quarter, contributing 0.3 percentage points to quarterly GDP growth.
Crucially, without the Government's stimulus payments, Treasury estimates the Australian economy would have contracted in the March quarter by around 0.2 per cent.
Household consumption has now grown by 0.8 per cent through the past year. By comparison, private consumption in the G7 area (excluding Italy, due to lack of equivalent data) has contracted by 1.4 per cent over the same period.
As planned, the Government's economic stimulus payments are helping to support demand and employment until direct public investments come fully on stream. Public investment recorded a small negative contribution to growth in the quarter, but should pick up in coming quarters as the next phase of the Government's stimulus plans take effect.
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By: steveb_wilson
3/06/2009
6:44 pm |
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By: wealthforlife@rocketmail.com
3/06/2009
5:06 pm Yahoo! Profile:
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steveb_wilson; HERES SOME GOOD NEWS JUST FOR YOU STEVE!
It's official - Australia is not in recession!
3rd Jun 2009
The Australian economy expanded by 0.4 per cent in the March quarter, meaning we are not in a recession! Technically a recession is two consecutive quarters of economic contraction, so these latest figures prove that our country was never actually in the recession that all the doom and gloom 'experts' said we were.
The Australian economy was certainly affected by the global financial crisis but it is clear that it has avoided the sort of downturn experienced by other major developed economies. Much of the credit for Australia’s resilience must be given to the swift actions of the Reserve Bank and the Government in stimulating our economy.
Some words of wisdom from the experts at CommSec who have consistently been a source of positive opinion -
Gloom and doom reports in the media almost caused Australians to talk themselves into recession. The important thing now is that commentary and analysis of our economic situation becomes more balanced. While the tough times abroad must be acknowledged, the strong position of our economy must be similarly recognised.
One thing is clear – Australia went close to talking itself into recession. Our economic conditions were nowhere near as bad as other parts of the globe, but somehow we all thought they were as bad. If Australians focus on the opportunities that lie ahead then the rebound could be much quicker and stronger than envisaged only a month ago.
CommSec expects the Australian economy to rebound far quicker than Federal Treasury. In 2008/09 the economy will probably grow by only 0.6 per cent, but 2.1 per cent growth is tipped for 2009/10 and 4.1 per cent growth is expected in 2010/11.
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By: steveb_wilson
3/06/2009
7:39 am |
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By: wealthforlife@rocketmail.com
2/06/2009
10:42 am Yahoo! Profile:
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ON TO SOME GOOD NEWS;
Australia 'doing best' in recession
26th May 2009
AUSTRALIA is an island of calm amid the global economic storm despite pessimistic government and media responses, an international global business confidence survey shows.
One in five international businesspeople cited Australia as the country best surviving the recession in a survey of 7,500 people in more than 24 nations.
Australia placed first in the survey, ahead of China, with India and Singapore in equal third place. New Zealand also fared well, ranked ninth.
The survey conducted in April was aimed at gauging business sentiment and what impact the economic downturn has had on businesses globally.
Australian businesspeople appeared relatively unaffected, according to the poll conducted for Servcorp, a provider of virtual and serviced offices that operates in 61 nations.
"In my experience working with international businesses around the world, especially during the last six months, I've noticed how relatively unaffected (are) Australian businesses and... business persons' attitude by the economic downturn," Servcorp executive director Taine Moufarrige said.
"Over 71 per cent of Australian businesspeople believe we are the lucky country, and it's interesting to see that the rest of the world agrees."
Pessimistic media reports were the number one concern among Australian businesses, the survey found.
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By: novicedealer
2/06/2009
7:39 am |
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By: novicedealer
2/06/2009
7:39 am |
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By: wealthforlife@rocketmail.com
1/06/2009
8:55 am |
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By: sly_guy_nsw
1/06/2009
7:16 am |
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By: rodneythesaviour
30/05/2009
6:12 am Yahoo! Profile:
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Hello Everyone!
Just thought I would drop in to leave a couple of comments prior to my heading down to the cafe to chat with my mates over breakfast.
I realise that jaymarcel, (sorry jay) may be a little upset by what I am about to pen..... nevertheless, here we go -
Good post sly_guy_nsw!
As a person who has managed to accumulate personal wealth as a result of both monies earned over the years from the rental of properties which I had bought as investments and from the subsequent sale of those properties (...last property sold only recently) for amounts which are in each case far in excess of the prices which I paid for them...
..I CAN CONFIRM THAT NOW IS THE TIME TO SELL AND NOT TO BUY PROPERTY.
Simply put. If they have not already done so, property investors are now busy offloading the properties they have which they purchased years ago.
These investors realise only too well that property values have now reached such a point that the difference between the amount which they originally purchased the property for and the current "book" value is so great that there is no better time to "cash in ones chips" and take the profit to the bank.
What we are seeing now, (as you mentioned in your post below sly_guy_nsw) is the result of these efforts by property investors... Many properties for sale which upon close inspection are seen to be rental properties or ones which until only recently have been utilised as such. |
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By: sly_guy_nsw
30/05/2009
5:53 am |
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By: rickyrollings
28/05/2009
6:01 am Yahoo! Profile:
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PREPARING NOW TO PROTECT YOURSELF FROM THE WORST EFFECTS OF THIS ECONOMIC CRISIS SHALL BEST PREPARE YOU FOR THE OPPORTUNITIES OF THE FUTURE
Taking appropriate actions in order to prepare to protect oneself from the worst of the economic crisis shall also prepare one for the recovery as and when that does indeed occur.
That said. Yes! As for myself. I am & have been preparing for the worst and shall therefore be in a good position to benefit from whatever financial opportunities present themselves a sand when the recovery occurs.
Along with many others on this BLOG and similar BLOG`s I urge you along with everyone else to prepare for the worst if you have not already done so.
ACT to secure your financial future. |
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By: wealthforlife@rocketmail.com
28/05/2009
12:15 am Yahoo! Profile:
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rickyrollings & co
Are you prepared for the economic recovery? |
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By: rickyrollings
27/05/2009
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Get your heads out of the sand and get ready!
It will not be long now. Are YOU really prepared for the pending economic collapse? Because the government has already spent everything and got little if nothing for it.
**AUSTRALIAN ECONOMY CONTINUES TO FALTER**
Despite all the positive blarney and "wishful thinking" which we often see posted on these BLOG`s the facts remains the same...
OUR economy like that of many other countries in the world is in serious trouble.
Check out the latest news from WESTPAC .. (The article - "ECONOMY CONTINUES TO FALTER" is posted right here on Yahoo Finance News). Refer to it if you still have doubts...
And.. Something than none of us should in my oppinion ever forget... Since we are a relatively small country (population wise) any significant negative economic occurrences are far less easily absorbed.
Simply put -
If 1000 people lose their jobs in a country with a large population the roll on negative effect of such is hardly noticed, (other than by those who lost their jobs of course)..
BUT.. If 100 people lose their jobs here .. It is headline news.
Has everyone been reading the news headlines recently...? Because there are lots of job losses occurring in most parts of the nation.
It will take some time before the negative effect of these continuing job losses is felt.. But you better be ready for it when the negative effects of all these citizens losing their jobs become only too obvious to each of us.
Ther eis nothign wrong with a positive approach..
But a REALISTIC and INFORMED positive approach is far more effective.
The economic crisis is REAL.
AUSTRALIA - ECONOMIC DISASTER LOOMS |
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By: tanglihoward
27/05/2009
2:47 pm Yahoo! Profile:
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| Hai Jay, I take your advise I go bpay the GPT when money comes in and buy a vam next month |
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By: jaymarcel
27/05/2009
2:27 pm Yahoo! Profile:
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Hi tanglihoward, you got it all wrong, recession means start a new business, buy a new car & move to that perfect place you have always dreamed of.
Welcome to AUSTRALIA! |
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By: tanglihoward
27/05/2009
1:59 pm Yahoo! Profile:
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| You guys must be economic genuise. I thought a recession means you starve to death and sleep in a cardboard box. I guess Mr Rudd my best friend is a genuise. |
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By: jaymarcel
27/05/2009
12:33 pm Yahoo! Profile:
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Top 10 recession-beaters
1st - Australia
2nd - China
3rd - India and Singapore (equal)
5th - Hong Kong
6th - Canada
7th - J@pan and Qatar (equal)
9th - New Zealand
10th - Malaysia, Sweden and Vietnam (equal)
Source: Servcorp International Business Confidence Survey |
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By: wealthforlife@rocketmail.com
27/05/2009
9:15 am Yahoo! Profile:
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| Go Jay! |
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By: jaymarcel
27/05/2009
8:23 am Yahoo! Profile:
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| Australia 'doing best' in recessionMay 26, 2009 - 5:04PM Australia is an island of calm amid the global economic storm despite pessimistic government and media responses, an international global business confidence survey shows.One in five international businesspeople cited Australia as the country best surviving the recession in a survey of 7,500 people in more than 24 nations.Australia placed first in the survey, ahead of China, with India and Singapore in equal third place. New Zealand also fared well, ranked ninth.The survey conducted in April was aimed at gauging business sentiment and what impact the economic downturn has had on businesses globally.Australian businesspeople appeared relatively unaffected, according to the poll conducted for Servcorp, a provider of virtual and serviced offices that operates in 61 nations."In my experience working with international businesses around the world, especially during the last six months, I've noticed how relatively unaffected (are) Australian businesses and... business persons' attitude by the economic downturn," Servcorp executive director Taine Moufarrige said."Over 71 per cent of Australian businesspeople believe we are the lucky country, and it's interesting to see that the rest of the world agrees."Pessimistic media reports were the number one concern among Australian businesses, the survey found.More than 25 per cent of Australian businesspeople also said they were worried about the way the government responded to the global financial crisis."I think the doom and gloom reports that Australians hear every day are harmful to Australian businesses and hold them back from seeing the opportunities that are present in the current economic climate," Mr Moufarrige said."This is a time when Australian business confidence needs to be supported and encouraged in the media and by the Australia government." |
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By: steveb_wilson
26/05/2009
5:05 am |
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By: rickyrollings
26/05/2009
4:54 am Yahoo! Profile:
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Hi Jay!
Ha ha ha! Mortgage holiday? Hummm. Sorry, you lost me. Do enlighten me... |
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