RioMarina Posted May 1, 2012 Author Share Posted May 1, 2012 What a ridiculous post heading!:rolleyes: The Reserve Bank is always adjusting the official interest rate up and down in response to economic conditions. It usually happens a couple of times a year. It is probable it will go down 0.25% at their next monthly meeting. What goes around comes around , -0.5% cut is what I said, thats whats been delivered. I stand by my original post. Wait for the rot to set in. Link to comment Share on other sites More sharing options...
BrisDubBris Posted May 1, 2012 Share Posted May 1, 2012 What a ridiculous post heading!:rolleyes:The Reserve Bank is always adjusting the official interest rate up and down in response to economic conditions. It usually happens a couple of times a year. It is probable it will go down 0.25% at their next monthly meeting. What goes around comes around , -0.5% cut is what I said, thats whats been delivered. I stand by my original post. Wait for the rot to set in. Sounds like you really hope for a crash? Link to comment Share on other sites More sharing options...
Skani Posted May 1, 2012 Share Posted May 1, 2012 What goes around comes around , -0.5% cut is what I said, thats whats been delivered. I stand by my original post. Wait for the rot to set in. You can - I won't. Didn't notice the rot setting in at the last .5% cut. Link to comment Share on other sites More sharing options...
Paul1Perth Posted May 1, 2012 Share Posted May 1, 2012 I worry about the "ordinary" citizen in Oz who isn't invovled in mining. I've watched the headlines in Oz for a long time now, and you didn't used to get headlines like these: http://www.theaustralian.com.au/news/nation/trucking-firm-goes-into-administration-1000-jobs-at-risk/story-e6frg6nf-1226339127185 http://video.theaustralian.com.au/2227283685/Ford-to-close-plants They have to sort the strength of their dollar (please!) out as it's just too high. No need to worry about us mate. I'm a pretty ordinary citizen, don't work in mining, been here 20 years and I'm doing just fine. I think we'll get by without your concern. Link to comment Share on other sites More sharing options...
an1ta Posted May 1, 2012 Share Posted May 1, 2012 No need to worry about us mate. I'm a pretty ordinary citizen, don't work in mining, been here 20 years and I'm doing just fine. I think we'll get by without your concern. I dont expect anyone is worried about you.You have been here long enough to have bought a house and sorted ur life out, what most people are worrying about is buying a house in NSW where my husband is based and can't move. And what about our kids. I'm glad ur ok mate. Lets hope ur bubble does not burst Link to comment Share on other sites More sharing options...
supa Posted May 1, 2012 Share Posted May 1, 2012 I genuinely hope you continue to be OK - I'll be concerned if I like (sticks tongue out)! All I'm saying is that I've been looking at the Oz economy for a few years now and I've never seen headlines like these before: http://www.theage.com.au/business/manufacturing-hit-by-dollar-weak-demand-20120501-1xvus.html http://www.theaustralian.com.au/national-affairs/state-politics/more-public-sector-jobs-to-go-as-victoria-delivers-on-budget-surplus-pledge/story-e6frgczx-1226343849092 http://www.theaustralian.com.au/business/economics/bank-misjudged-economic-strength/story-e6frg926-1226343821652 and it's that which I worry about. Hopefully Oz will turn itself around and not become like the rest of us, but it's not immune and to think it is is misguided. Hopefully it will return to surplus by 2013/14 as promised by the government but my concern is all the poor peeps who have to suffer in the meantime. Link to comment Share on other sites More sharing options...
bensdad Posted May 1, 2012 Share Posted May 1, 2012 well i work for a property developer and we are flat out, cannot build quick enough!!!! so its not affected housing and apartments yet? Link to comment Share on other sites More sharing options...
supa Posted May 1, 2012 Share Posted May 1, 2012 Fab, great to hear it. There are just so many articles and statistics flying about regarding falling house prices; a lot of it seems to be regional, so fingers crossed it stays buoyant where you are. Link to comment Share on other sites More sharing options...
Lambethlad Posted May 1, 2012 Share Posted May 1, 2012 Just read the news that it is predicted that Aus interest base rate is to change by at least - 0.5 %. The government have warned the Bank Treasury they need to reduce this rate. Is alarm bells starting to ring. Super high housing prices, super high dollar and the cost of living is immense. Bank lending has been far worse than the U.K or America. Worrying times me thinks. Time will tell. OMG I had no idea. Shouldn't we warn everyone who is planning to come here? We are all doomed! ARRGGGGHHH! Link to comment Share on other sites More sharing options...
supa Posted May 1, 2012 Share Posted May 1, 2012 $ dropped by 1c overnight so all good for would-be UK migrants though. Link to comment Share on other sites More sharing options...
fleabo Posted May 1, 2012 Share Posted May 1, 2012 Oh, Supa, it reminds me of the day fellow PIO'rs and I sat and watched the pound drop 5 cents...that was a shocker. :nah: $ dropped by 1c overnight so all good for would-be UK migrants though. Link to comment Share on other sites More sharing options...
supa Posted May 1, 2012 Share Posted May 1, 2012 Oh, Supa, it reminds me of the day fellow PIO'rs and I sat and watched the pound drop 5 cents...that was a shocker. :nah: Yeh, I know. We've watched it go up and down like tart's drawers now for ages; more down than up though unfortunately! Looking on the bright side (for us) though, it's put on about 9c since mid December. Link to comment Share on other sites More sharing options...
jamjar Posted May 1, 2012 Share Posted May 1, 2012 well i work for a property developer and we are flat out, cannot build quick enough!!!! so its not affected housing and apartments yet? Interesting, bloomberg (gloomberg) reported that house prices in Aus decline for the 5th quarter in a row. That 15 months, now I know most wont believe that stat, but there are more and more signs that a bigger wobble is on the cards. The dollar is way over valued and it is hurting most sectors. Link to comment Share on other sites More sharing options...
DaveS Posted May 3, 2012 Share Posted May 3, 2012 Interesting, bloomberg (gloomberg) reported that house prices in Aus decline for the 5th quarter in a row. That 15 months, now I know most wont believe that stat, but there are more and more signs that a bigger wobble is on the cards. The dollar is way over valued and it is hurting most sectors. I follow this kind of thing pretty intently. Though I don't know why - you have to have some money to be impacted... must work on that... anyway My completely synthesised opinion is that Australia has enough going for it to maintain slow growth. Link to comment Share on other sites More sharing options...
Guest gavnicjacflo Posted May 3, 2012 Share Posted May 3, 2012 fleet 1st when to the wall today, a 1000 jobs lost Link to comment Share on other sites More sharing options...
DaveS Posted May 3, 2012 Share Posted May 3, 2012 This link is purely about the housing market but is rather well researched. http://www.businessspectator.com.au/bs.nsf/Article/house-prices-property-bubble-rates-mortgage-debt-pd20120109-QC2C6?OpenDocument&src=sph&src=rot Though he completely ignores the possibility of more government intervention Link to comment Share on other sites More sharing options...
Perthbum Posted May 3, 2012 Share Posted May 3, 2012 Interesting article http://business.financialpost.com/2012/05/03/australia-the-most-obvious-bubble-in-30-years-says-economist/ Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted May 3, 2012 Share Posted May 3, 2012 Interesting article http://business.financialpost.com/2012/05/03/australia-the-most-obvious-bubble-in-30-years-says-economist/ Lets hope it happens, we need a big surge in the dollar to give us that dream lifestyle, our jobs won't be effected in Australia, so if theres a recession, or mini recession that might see the dollar climb up to nearly 2.5 to £1 that would be amazing, it would give us an extra $250,000 to go with. Link to comment Share on other sites More sharing options...
RioMarina Posted May 3, 2012 Author Share Posted May 3, 2012 Just read the news that it is predicted that Aus interest base rate is to change by at least - 0.5 %. The government have warned the Bank Treasury they need to reduce this rate. Is alarm bells starting to ring. Super high housing prices, super high dollar and the cost of living is immense. Bank lending has been far worse than the U.K or America. Worrying times me thinks. Time will tell. After reading the last couple of posts even the most optimistic person in the world would need to be wary of these facts. Australia may have the mining but when you do the maths of labour costs or manufacturing anything or selling anything compared to another country, the costs are amazingly high. I think there maybe Dutch disease already setting in. The dollar must come down, even collapse 40-50% to make Australia competitive again. Jobs will go if it does not. Its not even hard to work out. Ropey - Stop thinking of yourself. It does'nt come across well mate- If this were to happen it would be disastrous for many peoples lives. Lets hope it does'nt. Link to comment Share on other sites More sharing options...
Bobj Posted May 3, 2012 Share Posted May 3, 2012 Still in better shape than the UK... http://www.guardian.co.uk/business/2012/jan/25/uk-second-recession-economy-shrinks Cheers, Bobj. Link to comment Share on other sites More sharing options...
Lashie Posted May 3, 2012 Share Posted May 3, 2012 Australia is completely finished in the end anyway, its economy is based mostly off mining, once that is finished what does it have left? And the people in general are so lazy, they don't do anything to conserve power and what not. With all that sunlight you would expect to see solar power devices all over the place! Link to comment Share on other sites More sharing options...
RioMarina Posted May 3, 2012 Author Share Posted May 3, 2012 Still in better shape than the UK... http://www.guardian.co.uk/business/2012/jan/25/uk-second-recession-economy-shrinks Cheers, Bobj. That report is from January old lad. Update has it is now expanding, but still very fragile. At least the U.K knows where it is and what it has to do. Here in Aus we are living in a massive bubble. I can hear a hissing!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
Petals Posted May 3, 2012 Share Posted May 3, 2012 Australia is completely ****ed in the end anyway, its economy is based mostly off mining, once that is finished what does it have left?And the people in general are so lazy, they don't do anything to conserve power and what not. With all that sunlight you would expect to see solar power devices all over the place! Australian people are not any lazier than another nation, there are those that work and those that don't. Sometimes we have misconceptions on how much work we do do ourselves, what one thinks is working hard may not be what someone else considers working hard. The Victorian economy is at the mercy of our liberal government who is hell bent on delivering a surplus (which I believe has nothing to do with actually saving money, but more sticking it to the labour gov, and its time the little boys and girls stopped playing games. People in Victoria are losing their jobs and everyone knows the knock on effect from that. 6,000 public servants to go, no increase in kindergarten spending despite the demand in new areas outstripping supply. So even if names are put down at birth no guarantee of a place. Despite the fact that there are two million more people in Melbourne than in early eighties and they are coming at the rate of 1000 a week, the powers that be have decided that no new infrastructure is needed. Its not Australia that has a problem its how its governed and a lot has to lie at the feet of the Murdoch press and their scare mongering tactics, three minute grabs, and I know who to vote for, to hell with everyone else what about me. Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted May 3, 2012 Share Posted May 3, 2012 Still in better shape than the UK... http://www.guardian.co.uk/business/2012/jan/25/uk-second-recession-economy-shrinks Cheers, Bobj. Your right Bob, the UK has been in minus growth for over 3 years, the bubble hasn't burst, it never exhisted. Link to comment Share on other sites More sharing options...
Skani Posted May 3, 2012 Share Posted May 3, 2012 Australia is completely ****ed in the end anyway, its economy is based mostly off mining, once that is finished what does it have left? Mining accounts for about 9% of the Australian economy. That may not be obvious in WA which is very mining-centric at the moment. But even WA prospered before the mining boom. Link to comment Share on other sites More sharing options...
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