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recession - heard a few regrets


loobyloo85

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Building and infrastructure jobs that have started or due to start soon would of been rubber stamped a year or two ago befor the boom started to deflate. Buildings don't just jump out of the ground a week later, you may want to focus on what building company order books are like from this time forward..? You may be surprised

I don't have access to that information do you?

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I don't have access to that information do you?

 

The poster is quite correct. Planning on infrastructure is done well beforehand. Wait until a lot of the projects are completed.2017 is being suggested as the year the down fall really impacts. Mandurah is already a centre of high unemployment so e very little bit helps down that a way.

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The Foreshore in Mandurah a couple of years ago was full of empty shops and premises, now it's almost all full and new pubs and restaurants popping up all over the place. If it is as bad as you say, and I'm not saying you're wrong as I don't have that information, it certainly doesn't look or feel that way at the moment.

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The Foreshore in Mandurah a couple of years ago was full of empty shops and premises, now it's almost all full and new pubs and restaurants popping up all over the place. If it is as bad as you say, and I'm not saying you're wrong as I don't have that information, it certainly doesn't look or feel that way at the moment.

 

Take a look at the stats for Mandurah. It has long been a centre of high unemployment and social issues around that. Full marks on the development. WA needs it. But we need to look at the bigger picture and the storm ahead shaping up.

One should remember that Mandurah was/is home to a lot of FIFO workers as well. With ever declining prospects in that area will there be the money in town to sustain business?

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Building and infrastructure jobs that have started or due to start soon would of been rubber stamped a year or two ago befor the boom started to deflate. Buildings don't just jump out of the ground a week later, you may want to focus on what building company order books are like from this time forward..? You may be surprised

 

The surprise will be whether we can escape relatively unscratched.

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No response to my earlier post from those so sure of a recession looming, a statement that they've been trotting out on this forum for years. Meanwhile, (so-called) experts are saying that a 2nd boom is coming shortly due to another "on the up" un-named player that will be requiring Australian commodities

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No response to my earlier post from those so sure of a recession looming, a statement that they've been trotting out on this forum for years. Meanwhile, (so-called) experts are saying that a 2nd boom is coming shortly due to another "on the up" un-named player that will be requiring Australian commodities

WA's been in recession for most of the year, and I spoke to a chevron manager a few weeks back who assured me that no more gas plants would be built in Australia after the current ones are complete due to the high costs, floating offshore LNG boats are the future. Woodside scrapped a preposed LNG plant up north a while back and are currently building a boat in Korea to float offshore

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No response to my earlier post from those so sure of a recession looming, a statement that they've been trotting out on this forum for years. Meanwhile, (so-called) experts are saying that a 2nd boom is coming shortly due to another "on the up" un-named player that will be requiring Australian commodities

 

 

Have you seen the markets today? That's because China is slowing. Now, China can drop rates. That may help a bit. But things aren't looking great. I sincerely doubt there will be a boom. Recession highly likely.

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Paul1perth your not typical really, highly qualified and arrived years ago so know the ropes. Lets be honest the Aussies think differently and you're clearly well in! you came here years ago and have got your feet well and truly under the table. Your boys are fifo which is not ideal if they want to eventually settle down everyone knows the downside to fifo's

 

Its great Australia has been so kind to you and your family (as it was to me) but its not helpful to paint such an amazing rosy picture to the potential newbies.

 

I would say go for it, its a beautiful country but keep your ties & your eyes wide open.

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Paul1perth your not typical really, highly qualified and arrived years ago so know the ropes. Lets be honest the Aussies think differently and you're clearly well in! you came here years ago and have got your feet well and truly under the table. Your boys are fifo which is not ideal if they want to eventually settle down everyone knows the downside to fifo's

 

Its great Australia has been so kind to you and your family (as it was to me) but its not helpful to paint such an amazing rosy picture to the potential newbies.

 

I would say go for it, its a beautiful country but keep your ties & your eyes wide open.

 

 

you've summed it up pretty well there ! I think you've hit the nail on the head .

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So you have your doubts, otherwise you wouldn't have mooted "escape unscratched"?

 

I would say more a question of to what degree. There is definite resistance to the changing conditions. Low interest rates continue to add to the flames. I do not believe the down side of such a colossal boom will be to wilt with barely more than a murmur.

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No response to my earlier post from those so sure of a recession looming, a statement that they've been trotting out on this forum for years. Meanwhile, (so-called) experts are saying that a 2nd boom is coming shortly due to another "on the up" un-named player that will be requiring Australian commodities

 

It is natural for so called experts (paid by who?) to talk up the markets when so much is at stake. An 'un named player' as you say, should give you a hint into the unlikeliness of any such eventuality. India was being suggested a few years back as being in a position to take up some of China's slack. Pretty certainly not going to happen now.

 

QLD and WA will sustain most of the hit but hardly be of no impact to the main centres , which profited from the massive boom in resources. No one is in a position to say just how hard the impact will be, the reason why I tend to hedge my bets for now and not go entirely into the entirely alarmist camp. Some rather fluent economists are very unsettled by what they see on the horizon.

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Paul1perth your not typical really, highly qualified and arrived years ago so know the ropes. Lets be honest the Aussies think differently and you're clearly well in! you came here years ago and have got your feet well and truly under the table. Your boys are fifo which is not ideal if they want to eventually settle down everyone knows the downside to fifo's

 

Its great Australia has been so kind to you and your family (as it was to me) but its not helpful to paint such an amazing rosy picture to the potential newbies.

 

I would say go for it, its a beautiful country but keep your ties & your eyes wide open.

 

You are of course quite correct. Those of us that have been out here some time will not be as impacted as arrivals since more recent times. Not to say those that got a mortgage over recent years as well. Some on here are holding out for retirement so obviously not to bothered with job security or sitting on a mortgage that far exceeds their house value. Yet they continue with the rhetoric more appropriate for another time.

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Paul1perth your not typical really, highly qualified and arrived years ago so know the ropes. Lets be honest the Aussies think differently and you're clearly well in! you came here years ago and have got your feet well and truly under the table. Your boys are fifo which is not ideal if they want to eventually settle down everyone knows the downside to fifo's

 

Its great Australia has been so kind to you and your family (as it was to me) but its not helpful to paint such an amazing rosy picture to the potential newbies.

 

I would say go for it, its a beautiful country but keep your ties & your eyes wide open.

 

I hink you need to read my post again. I don't see being out of work for 5 months as painting a rosy picture, renting for a year, high interest rates, still being worried whether we had overstretched ourselves when we got our house. Same worries we had in the UK really, but the area we live, the climate, being near the Coast all made up for it.

 

Only one of the boys is in FIFO janlo, the other has autism, is still at home but has a job locally, so he's doing OK.

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I hink you need to read my post again. I don't see being out of work for 5 months as painting a rosy picture, renting for a year, high interest rates, still being worried whether we had overstretched ourselves when we got our house. Same worries we had in the UK really, but the area we live, the climate, being near the Coast all made up for it.

 

Only one of the boys is in FIFO janlo, the other has autism, is still at home but has a job locally, so he's doing OK.

 

And so it could have been. External conditions changed and the country went on to 'boom' for the next twenty four odd years. Hardly relevant to today's conditions of declining work, high personal debt and massively over inflated house prices.

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I hink you need to read my post again. I don't see being out of work for 5 months as painting a rosy picture, renting for a year, high interest rates, still being worried whether we had overstretched ourselves when we got our house. Same worries we had in the UK really, but the area we live, the climate, being near the Coast all made up for it.

 

Only one of the boys is in FIFO janlo, the other has autism, is still at home but has a job locally, so he's doing OK.

Borrowing from a cliche, your cup, like mine, might look half empty, but we see it as full, albeit perhaps with a little too much "froth!"

 

Again like you, I've had to put up with jibes that "I've had it easy" (because my parents helped me with the deposit on my flat) and If it wasn't for that I'd be in the poo, or I bought my flat at a wonderful time, never to be seen again, when there were no financial or any other problems, compared to the catastrophic situation today.

 

I didn't think life was wonderful during parts of the 80s and 90s, when I was struggling sometimes financially, sometimes mentally, sometimes physically, and often all three together.

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Even as I was writing, there is Flag on his soap box, peddling his mantra, that this is the WORST time I'm the history of humanity to be living in Australia.

 

It is BS! There have always been the "the best of times and the worst of times"

 

My parents spent the years from when I was born till I reached adulthood, both working full time.

 

They and my grandparents lived through the two world wars and the worst ever depression in between those two wars, and no bloody NHS either,.

 

But according to Flag, those times were Utopian compared to the 21st century, with its so-called Ponzi schemes and unique other calamities which we have never seen before.

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Again like you, I've had to put up with jibes that "I've had it easy" (because my parents helped me with the deposit on my flat) and If it wasn't for that I'd be in the poo, or I bought my flat at a wonderful time, never to be seen again, when there were no financial or any other problems, compared to the catastrophic situation today.

 

I didn't think life was wonderful during parts of the 80s and 90s, when I was struggling sometimes financially, sometimes mentally, sometimes physically, and often all three together.

 

Your mental and physical problems are totally irrelevant to the discussion, so let's leave those aside.

 

We're both about the same age and both lived in Sydney so we've both been exposed to the same things. Unlike you, I haven't spent my life in the cosy bubble of a flat of my own and a long-term job, so I've been far more exposed to the changes in the economy. Also as a manager, I've had to hire and fire many people in the last 30 years, so I've seen how the job market has changed first-hand.

 

When I arrived in Sydney, work was easy to get - I applied for three jobs and was offered all three. On the salary we earned (my oh a teacher, me a mere secretary), we comfortably afforded a nice flat in Double Bay - which I couldn't afford to rent today! We bought a two-bedroom place in Paddington (again, way out of the reach of the average worker today). True, the interest rate was ridiculous, but the purchase price was reasonable, so it wasn't too painful. All very different to what migrants face today.

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Your mental and physical problems are totally irrelevant to the discussion, so let's leave those aside.

 

We're both about the same age and both lived in Sydney so we've both been exposed to the same things. Unlike you, I haven't spent my life in the cosy bubble of a flat of my own and a long-term job, so I've been far more exposed to the changes in the economy. Also as a manager, I've had to hire and fire many people in the last 30 years, so I've seen how the job market has changed first-hand.

 

When I arrived in Sydney, work was easy to get - I applied for three jobs and was offered all three. On the salary we earned (my oh a teacher, me a mere secretary), we comfortably afforded a nice flat in Double Bay - which I couldn't afford to rent today! We bought a two-bedroom place in Paddington (again, way out of the reach of the average worker today). True, the interest rate was ridiculous, but the purchase price was reasonable, so it wasn't too painful. All very different to what migrants face today.

You are in full on patronising mode today!

 

I did not get that long term safe public service job until I'd been here nearly three years (Nov 1978 to June 1981) and my parents did not help me buy my flat until 1987 when I'd been here nearly nine years.

 

I don't understand why mental and physical problems have no connection with financial or work problems either?

 

I could not cope with my job. Why? According to your diagnosis. I should have known that my job was safe as the Bank of England so I should not have harboured any fears of inadequacy because whatever I did, my job was safe?

 

But that assumes I was mentally sound in the first place and given my psychological history at the time, I know I was not sound.

 

So, given that my parents, worried sick as they were my seemingly inability to cope. Despite that secure job, decided to help me with the deposit on a flat.

 

Why not problems over then? Secure job plus my own home albeit still with a mortgage to pay off.

 

I've deduced that you could consider that anyone without financial or work related problems, should have no excuse for any medical or mental problems, which is wrong because even rich people have mental problems.

 

Bottom line for me is that I did it tough in the 80s and 90s and the fact I'm doing it easier now has zero to do with my financial health and 100 per cent to do with better coping strategies to handle my mental health, including long term medication and therapy..

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I did not get that long term safe public service job until I'd been here nearly three years (Nov 1978 to June 1981) and my parents did not help me buy my flat until 1987 when I'd been here nearly nine years.

...I don't understand why mental and physical problems have no connection with financial or work problems either?

Because we are talking about comparing the FINANCIAL situation and how it affects migrants now compared to back when we arrived. By bringing in other factors, you confuse the issue.

 

I am sorry that you had to face so many challenges, but they aren't relevant to other potential migrants unless they are also struggling with similar issues. You said you didn't FEEL secure, but it doesn't change the fact that for most of your time in Australia, you've had a secure job and a home of your own - so since the late 80's, you haven't been as aware of the ups and downs of the economy as others with less security.

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Because we are talking about comparing the FINANCIAL situation and how it affects migrants now compared to back when we arrived. By bringing in other factors, you confuse the issue.

 

I am sorry that you had to face so many challenges, but they aren't relevant to other potential migrants unless they are also struggling with similar issues. You said you didn't FEEL secure, but it doesn't change the fact that for most of your time in Australia, you've had a secure job and a home of your own - so since the late 80's, you haven't been as aware of the ups and downs of the economy as others with less security.

 

You are very correct. I have no idea why a few posters that come on here reflect by over the decades to when they arrived to conditions those now coming face. OK times have been hard during other periods but for one thing the dole would support those in need as well as cover the rent. This situation was maintained largely until early 00.

 

I'd imagine almost impossible to get by these days on a dole supplement. It would barely cover the rent charged. Houses are so much more of income to buy. I feel everything is harder And I spent some time here in former supposed good and bad times. So much more 'stress' today and less help. More expectations and a emphasis on more and more.

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Even as I was writing, there is Flag on his soap box, peddling his mantra, that this is the WORST time I'm the history of humanity to be living in Australia.

 

It is BS! There have always been the "the best of times and the worst of times"

 

My parents spent the years from when I was born till I reached adulthood, both working full time.

 

They and my grandparents lived through the two world wars and the worst ever depression in between those two wars, and no bloody NHS either,.

 

But according to Flag, those times were Utopian compared to the 21st century, with its so-called Ponzi schemes and unique other calamities which we have never seen before.

 

Never said Utopian times I said easier in the main. No soap box fella just fact. Not easier for every one perhaps but resources went further. Almost no one alive today experienced the great depression. (unless very young) I refer to the period I know being the 70's and 80's in the Australian context. Do you wish to deny that?

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Because we are talking about comparing the FINANCIAL situation and how it affects migrants now compared to back when we arrived. By bringing in other factors, you confuse the issue.

 

I am sorry that you had to face so many challenges, but they aren't relevant to other potential migrants unless they are also struggling with similar issues. You said you didn't FEEL secure, but it doesn't change the fact that for most of your time in Australia, you've had a secure job and a home of your own - so since the late 80's, you haven't been as aware of the ups and downs of the economy as others with less security.

I THOUGHT I had a secure job right up to the second in August 1996, when my boss walked up to my desk and said, and I can't remember his exact words, "You're out Dave." So, after 15 years of feeling safe. I went into work in the morning thinking "I have a job for life," and after lunch that career was over.

 

Now, according to your argument that FINANCIAL security overrides every other factor, the shock I experienced, worse than anything except my parents' death, was nevertheless less of a shock than my co workers who also got the axe that day because their financial security was weaker than mine?

 

But other factors would surely affect that? Someone mentally stronger than me but financially weaker for instance? According to your argument that could not be the case.

 

Moreover, I recall now that throughout much of my 15 years of doing that job, the worst time coincided with the period after I paid my mortgage off. I was consumed with the fear that the reason I could not cope with my job was because I was unnaturally incompetent and other normal people would easily cope with that job.

 

Again, according to your argument that financial security overrides every other factor, I was acting and thinking irrationally.

 

So why did I feel worse than at almost any time in my life? What would you have said to me then? "For God's sake Dave. Pull yourself together. Think of all those people still paying their mortgages off. They are the ones with the real worries, not you.! "

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Never said Utopian times I said easier in the main. No soap box fella just fact. Not easier for every one perhaps but resources went further. Almost no one alive today experienced the great depression. (unless very young) I refer to the period I know being the 70's and 80's in the Australian context. Do you wish to deny that?

In the 70s and 80s there were plenty of people alive who'd experienced both Depression and WW2. What are you arguing? That they worried less in the 70s and 80s than people today? I would argue that those negative experiences would have made them fear another downturn even more than today's generation.

 

Or are you arguing that people paying off mortgages and other debts at that time felt more secure than people today?

 

Are you ignoring other factors such as The Cold War which may have affected many people's outlook?

 

Where is your evidence that people today are worse off than at any other time in history?

 

Even if there are greater percentages of people suffering say from mental illness that could be because of there being less stigma about admitting to suffering that illness.

 

All I ever seem to hear from you and others are opinions rather than solid arguments. I was happy to back down and admit I was wrong when PB produced some evidence about I think WW1 casualties. I'll do the same again.

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