Is the Aus economy slowly imploding?

Remove this Banner Ad

Saint

Norm Smith Medallist
Feb 1, 2006
5,620
8,651
Victoria
AFL Club
Essendon
I'm not sure the mining-based boom cycle is over. Plenty of demand for minerals still, especially iron ore and coal, plus aluminium and its pre-cursors, then there's the whole battery dilemma. The reality is that Australia is a big old continent and there's lots of it to dig up if anyone finds something they want.

The decimation of the Education sector by this Government during the pandemic will be the largest impact. Replacing that lost revenue is going to require increased taxes. There are plenty of options for that. Google/Facebook, additional minerals royalties/taxes however you want to organise that.

Obviously with both parties, but particularly the LNP completely beholden to corporate interests and neither wanting to annoy Google/Meta they'll probably stuff around the edges and push the debt to the next generation.

The Boomers' last kick in the bank account to future generations.
 

Kwality

Hall of Famer
Aug 14, 2011
38,566
14,433
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
I'm not sure the mining-based boom cycle is over. Plenty of demand for minerals still, especially iron ore and coal, plus aluminium and its pre-cursors, then there's the whole battery dilemma. The reality is that Australia is a big old continent and there's lots of it to dig up if anyone finds something they want.

The decimation of the Education sector by this Government during the pandemic will be the largest impact. Replacing that lost revenue is going to require increased taxes. There are plenty of options for that. Google/Facebook, additional minerals royalties/taxes however you want to organise that.

Obviously with both parties, but particularly the LNP completely beholden to corporate interests and neither wanting to annoy Google/Meta they'll probably stuff around the edges and push the debt to the next generation.

The Boomers' last kick in the bank account to future generations.

Given education is a State responsiblility, like power, like health.
The debt isnt going to be repaid by the boomers, they'll increase it.

The minerals will play a big part in earning the overseas income we need to pay for all the stuff we import. The only thing between us & a banana republic.

 

Saint

Norm Smith Medallist
Feb 1, 2006
5,620
8,651
Victoria
AFL Club
Essendon
Given education is a State responsiblility, like power, like health.
The debt isnt going to be repaid by the boomers, they'll increase it.

The minerals will play a big part in earning the overseas income we need to pay for all the stuff we import. The only thing between us & a banana republic.


You just don't know what you're talking about, clearly.

Tertiary education is a Commonwealth responsibility, States run schools and TAFE. They deliberately decimated the tertiary education sector at great economic cost, purely for ideological and political reasons.

Also, you obviously don't know the origin of the phrase "Banana Republic" which was about economies being reliant on one industry which, in turn, dominated their politics such that it was an oligopoly. Which is exactly what you advocate. You say mining stops us being a banana republic, when in fact it is the cause of it.

Any other mature economy would kill for an export education market the size and scale of Australia's pre-COVID. The LNP have been intent on destroying ours for years and seem to have succeeded. They killed more jobs in education than the whole mining sector.

Your post is completely contradictory nonsense. Very LNP. Are you ScoMo's economic advisor/stylist?
 

Log in to remove this ad.

Kwality

Hall of Famer
Aug 14, 2011
38,566
14,433
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
You just don't know what you're talking about, clearly.

Tertiary education is a Commonwealth responsibility, States run schools and TAFE. They deliberately decimated the tertiary education sector at great economic cost, purely for ideological and political reasons.

Also, you obviously don't know the origin of the phrase "Banana Republic" which was about economies being reliant on one industry which, in turn, dominated their politics such that it was an oligopoly. Which is exactly what you advocate. You say mining stops us being a banana republic, when in fact it is the cause of it.

Any other mature economy would kill for an export education market the size and scale of Australia's pre-COVID. The LNP have been intent on destroying ours for years and seem to have succeeded. They killed more jobs in education than the whole mining sector.

Your post is completely contradictory nonsense. Very LNP. Are you ScoMo's economic advisor/stylist?

Happy to be corrected where applicable.

Indeed the banana republic was engraved in the Aus vernacular by Paul Keating.
'The big story in economics in 1986 was Australia’s current account deficit. We were importing much more than we were exporting and, most worrying, our terms of trade fell 10% in the year to March 1986. Coupled with this, the value of our dollar fell in the early part of 1986 to US71c as Australia’s inflation rose well in excess of the rest of the advanced world. In 1986 our inflation, at 9%, was 6 percentage points above most advanced economies – the biggest gap in the past 40 years.'
Hence my comment. Thats not denying the definition you chose to use.

Interesting YOUR version of a mature economy & the tertiary education industry.
Is there any Government funded body that doesnt want more, more money.
 

Saint

Norm Smith Medallist
Feb 1, 2006
5,620
8,651
Victoria
AFL Club
Essendon
Happy to be corrected where applicable.

Indeed the banana republic was engraved in the Aus vernacular by Paul Keating.
'The big story in economics in 1986 was Australia’s current account deficit. We were importing much more than we were exporting and, most worrying, our terms of trade fell 10% in the year to March 1986. Coupled with this, the value of our dollar fell in the early part of 1986 to US71c as Australia’s inflation rose well in excess of the rest of the advanced world. In 1986 our inflation, at 9%, was 6 percentage points above most advanced economies – the biggest gap in the past 40 years.'
Hence my comment. Thats not denying the definition you chose to use.

Interesting YOUR version of a mature economy & the tertiary education industry.
Is there any Government funded body that doesnt want more, more money.
The tertiary Education sector lost 40,000 jobs during COVID. There are less than 40,000 coal mining jobs in Australia.

They killed a whole mining-sector worth of jobs for ideological reasons.

They're falling over themselves to protect the <40,000 coal mining jobs, even at the expense of the climate (tourism and agriculture will be heavily impacted)


There's no second planet where this is remotely close to good economic management.
 

Saint

Norm Smith Medallist
Feb 1, 2006
5,620
8,651
Victoria
AFL Club
Essendon
Happy to be corrected where applicable.

Indeed the banana republic was engraved in the Aus vernacular by Paul Keating.
'The big story in economics in 1986 was Australia’s current account deficit. We were importing much more than we were exporting and, most worrying, our terms of trade fell 10% in the year to March 1986. Coupled with this, the value of our dollar fell in the early part of 1986 to US71c as Australia’s inflation rose well in excess of the rest of the advanced world. In 1986 our inflation, at 9%, was 6 percentage points above most advanced economies – the biggest gap in the past 40 years.'
Hence my comment. Thats not denying the definition you chose to use.

Interesting YOUR version of a mature economy & the tertiary education industry.
Is there any Government funded body that doesnt want more, more money.
Well it's just not what Banana Republic means.


Both sides talk about tech and innovation. One side actively destroys or sells off any hint of it.
 

QuietB

Hall of Famer
May 13, 2008
31,532
48,236
Melbourne
AFL Club
Hawthorn
The tertiary Education sector lost 40,000 jobs during COVID. There are less than 40,000 coal mining jobs in Australia.

They killed a whole mining-sector worth of jobs for ideological reasons.

They're falling over themselves to protect the <40,000 coal mining jobs, even at the expense of the climate (tourism and agriculture will be heavily impacted)


There's no second planet where this is remotely close to good economic management.

You are conflating “mining jobs” with “mining”.

They don’t give a duck about mining jobs, they would automate the whole thing if they could.

Mining jobs is the sales pitch to justify the massive subsidies and other favours by government.
 

Kwality

Hall of Famer
Aug 14, 2011
38,566
14,433
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
Well it's just not what Banana Republic means.


Both sides talk about tech and innovation. One side actively destroys or sells off any hint of it.

Sometimes lar'nin isnt about textbooks.
I understand you reckon one mobs great, the others hopeless - guess that comes from same book ?
 

Saint

Norm Smith Medallist
Feb 1, 2006
5,620
8,651
Victoria
AFL Club
Essendon
Sometimes lar'nin isnt about textbooks.
I understand you reckon one mobs great, the others hopeless - guess that comes from same book ?
The definition of "Banana Republic" has been around for half a century. Diversifying economies is important for the resilience of the economy as well as maximising output. Decimating education, tech and innovation is just the opposite of what should be happening in the Australian economy.
 

Seeds

Hall of Famer
Sep 15, 2007
46,404
42,117
I don't know
AFL Club
Geelong
You are conflating “mining jobs” with “mining”.

They don’t give a fu** about mining jobs, they would automate the whole thing if they could.

Mining jobs is the sales pitch to justify the massive subsidies and other favours by government.
You guys get that prosperity comes from being able to do things without labour right? This frees up labour to do other things and expand output or take more lesiure time.
 

Kwality

Hall of Famer
Aug 14, 2011
38,566
14,433
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
The definition of "Banana Republic" has been around for half a century. Diversifying economies is important for the resilience of the economy as well as maximising output. Decimating education, tech and innovation is just the opposite of what should be happening in the Australian economy.

I understand the Keating version is a little younger, but its the Australian version.
There are some natural advantages & disadvantages for the Australian economy beyond political motherhood statements.
 

Saint

Norm Smith Medallist
Feb 1, 2006
5,620
8,651
Victoria
AFL Club
Essendon
You guys get that prosperity comes from being able to do things without labour right? This frees up labour to do other things and expand output or take more lesiure time.

So you'd spend more time educating people to do value-add work. Sounds like you'd want a strong education sector, not a decimated one.
 

Saint

Norm Smith Medallist
Feb 1, 2006
5,620
8,651
Victoria
AFL Club
Essendon
I understand the Keating version is a little younger, but its the Australian version.
There are some natural advantages & disadvantages for the Australian economy beyond political motherhood statements.
When Keating said it, he was talking about keeping manufacturing going, for diversity of the economy. Well, the LNP successfully finished the car industry (which was going anyway). But then they decimated the education sector too which is a sector of the future.
 

(Log in to remove this ad.)

Kwality

Hall of Famer
Aug 14, 2011
38,566
14,433
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
You guys get that prosperity comes from being able to do things without labour right? This frees up labour to do other things and expand output or take more lesiure time.

That adding machine cost heaps of jobs, all those comptometrists, a lost skill that.
The Comptometer was the first commercially successful key-driven mechanical calculator, patented in the United States by Dorr Felt in 1887.

 

Kwality

Hall of Famer
Aug 14, 2011
38,566
14,433
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
When Keating said it, he was talking about keeping manufacturing going, for diversity of the economy. Well, the LNP successfully finished the car industry (which was going anyway). But then they decimated the education sector too which is a sector of the future.

The car industry, was Ford the first to close up shop:
'Prime Minister Julia Gillard has called on Ford to contribute to a multimillion-dollar readjustment program for areas hit by Ford's announcement of the end of manufacturing in Australia in 2016.'

Do tell this decimation of the education sector?
 

Ned_Flanders

Premium Platinum
Aug 22, 2009
76,126
139,626
AFL Club
Richmond
Other Teams
76'ers
I understand the Keating version is a little younger, but its the Australian version.
There are some natural advantages & disadvantages for the Australian economy beyond political motherhood statements.

the banana republic line dates back to the economies in central america, which were basically bitch states to Standard Fruit Company (Dole) and United Fruit Company (Chiquita)

essentially states that lost their sovereignty to foreign corporations due to their absolute domination of the nations economy
 

Seeds

Hall of Famer
Sep 15, 2007
46,404
42,117
I don't know
AFL Club
Geelong
So you'd spend more time educating people to do value-add work. Sounds like you'd want a strong education sector, not a decimated one.
Ultimately i want a world where capital can do all the work that meets every humans wants so humans no longer have to work.

but until civilisation reaches that point anything capital can do to replace either unskilled work or high skilled work will be a plus for humanity.

capital has historically replaced low skilled work requiring higher value added. In the future i think it will replace both unskilled and high skilled work.

you do not want to be training as an accountant right now. Or a doctor for that matter. They have a limited shelf life.
 

kranky al

Has NEVER sh@t himself in maccas
Jun 30, 2009
26,887
37,170
Deroesfromgero
AFL Club
West Coast
Other Teams
east perth www.pixelpac.com.au
Read the context of my post. I'm agreeing with you.
Just saw gift under your post - thought wtf is that - click it and get this :
96731DBA-3898-478F-A937-92170F71D491.jpeg


Wtf Chief

Ban member for day $25
 

Freomaniac

Brownlow Medallist
May 3, 2007
26,628
14,791
Parts Unknown
AFL Club
Fremantle
Other Teams
Man City, Valencia, Lazio, Panthers
It's not just about money, it is also about having a job.
Lots of science nerds leave because there simply isn't any work for them.
Closing down industry like car manufacturing doesn't help.
Shows how bad south Australia, Elizabeth to be exact (thats where Holden car factory was located) has fallen
 

QuietB

Hall of Famer
May 13, 2008
31,532
48,236
Melbourne
AFL Club
Hawthorn
You guys get that prosperity comes from being able to do things without labour right? This frees up labour to do other things and expand output or take more lesiure time.

You just stated prosperity comes from not working 🤷‍♂️

That is some serious neoliberal bullshit
 

Saint

Norm Smith Medallist
Feb 1, 2006
5,620
8,651
Victoria
AFL Club
Essendon
Ultimately i want a world where capital can do all the work that meets every humans wants so humans no longer have to work.

but until civilisation reaches that point anything capital can do to replace either unskilled work or high skilled work will be a plus for humanity.

capital has historically replaced low skilled work requiring higher value added. In the future i think it will replace both unskilled and high skilled work.

you do not want to be training as an accountant right now. Or a doctor for that matter. They have a limited shelf life.
Are you trolling or joking or something?

No need for accountants and Doctors?

You think people will stop caring about money if robots are doing all the cooking and cleaning?

You think people will be living healthy lifestyles and a few tablets from a robot will fix everything.

I don't know what the IPA is teaching kids these days, but these are some serious QAnon levels of ignorance of human nature.
 

kranky al

Has NEVER sh@t himself in maccas
Jun 30, 2009
26,887
37,170
Deroesfromgero
AFL Club
West Coast
Other Teams
east perth www.pixelpac.com.au
Are you trolling or joking or something?

No need for accountants and Doctors?

You think people will stop caring about money if robots are doing all the cooking and cleaning?

You think people will be living healthy lifestyles and a few tablets from a robot will fix everything.

I don't know what the IPA is teaching kids these days, but these are some serious QAnon levels of ignorance of human nature.
Id assume a minimum basic wage is attached to this right?

Oh hang on its the ipa - everything is done by robots and ai so anyone not rich is nailed to a rock in the sun to die - their deaths are broadcast on ppv as why waste something that could well be profitable.

Lay your bets on which one of these moneyless simpletons dies first with tom waterhouse -he knows what the punters want.
 

Remove this Banner Ad

Remove this Banner Ad