flag of convenience Posted January 16, 2016 Share Posted January 16, 2016 Flag, unlike yourself most people do not dwell on one aspect and claim it as a widespread norm, not everything country wide is AWESOME but there are a fair few places where it is. In South East Qld the company I work for have never been busier, yes some of the works we had had in the mining areas farther north have eased considerably but the majority of workers have transferred to where we have work. Also our works connected to the Commonwealth games on the Gold Coast have also eased but, as we did prior to that, and still have, other work there. The company also during latter half of last year opened an office in Perth WA and now has several projects on the go. Was opening a divisional office there during such a 'bust' period a stupid or prudent move? Well for a privately owned company built up from nothing over 30 years ago to a $billion company now and with a workforce of over 1500, an office in every mainland State and Territory! I would have thought the boss knows what he is doing so I would hazard a guess at it being a prudent move. Yes so Straylia can be the promised land if you want to look for and ride the crest of the ripples from where you can see further than the end of your nose! not stay in the troughs where you miss the views! You are correct of course. Very little in the country is awesome. Quite contrary. It looks like the great salvation of housing that replaced the resource boom is coming off the boil, not before great damage was inflicted with cheap money and high personal debt as many got caught up in the frenzy surrounding this area. No idea of your bosses motives in the WA theatre at a time like this. He may be a chancer or have a plan or plan out of depth. I've witnessed money wasted hand over fist due to erroneous decisions from the top so take all with a pinch of salt. My argument being we should hardly be having this discussion considering Australia has just come out of its biggest boom with so little to show for it. It sometimes pay to recognise a nose can be found on the face. In others truly awesome Cob. Quote Link to comment Share on other sites More sharing options...
Keith and Linda Posted January 16, 2016 Share Posted January 16, 2016 You are correct of course. Very little in the country is awesome. Quite contrary. It looks like the great salvation of housing that replaced the resource boom is coming off the boil, not before great damage was inflicted with cheap money and high personal debt as many got caught up in the frenzy surrounding this area. No idea of your bosses motives in the WA theatre at a time like this. He may be a chancer or have a plan or plan out of depth. I've witnessed money wasted hand over fist due to erroneous decisions from the top so take all with a pinch of salt. My argument being we should hardly be having this discussion considering Australia has just come out of its biggest boom with so little to show for it. It sometimes pay to recognise a nose can be found on the face. In others truly awesome Cob. Gee flag, sure is hard to help lift you out of the hole when you will not reach up to accept the helping hand. Quote Link to comment Share on other sites More sharing options...
Keith and Linda Posted January 16, 2016 Share Posted January 16, 2016 You are dramatic drama queen, but true reality is about to bite for many. Pot Kettle Black come to mind! Quote Link to comment Share on other sites More sharing options...
newjez Posted January 16, 2016 Share Posted January 16, 2016 It appears not a lot has been learnt since the GFC. The exception being this time around Australia will not have a resource boom to cover the impact. This is the GRC. Global resources crisis. What does Australia export? If things get really bad, what do you think? Halving of Australian house prices after interest rates rise to defend against the crippled aud? This will be bad for everyone, but it will cripple Australia. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted January 16, 2016 Share Posted January 16, 2016 Gee flag, sure is hard to help lift you out of the hole when you will not reach up to accept the helping hand. I hadn't noticed a helping hand. Probably mistook the 'helping' gesture as wanting to shove my head further in it. Still hopefully returned the 'helping gesture' by bringing to attention other ways to regard the possible intent of said post. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted January 16, 2016 Share Posted January 16, 2016 This is the GRC. Global resources crisis. What does Australia export? If things get really bad, what do you think? Halving of Australian house prices after interest rates rise to defend against the crippled aud? This will be bad for everyone, but it will cripple Australia. I do fear the worst (but we must whisper that on here) (We don't want to stampede the cattle) In fact I would not go as far as to articulate even some likely possible outcomes. Not worth the grief. Short of saying Australia will not be the country we once knew. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted January 16, 2016 Share Posted January 16, 2016 Pot Kettle Black come to mind! Well be gentle on yourself on perhaps a little more may come to mind. Quote Link to comment Share on other sites More sharing options...
Parley Posted January 16, 2016 Share Posted January 16, 2016 Why on earth would interest rates rise ? Be sensible. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted January 16, 2016 Share Posted January 16, 2016 Why on earth would interest rates rise ? Be sensible. Because interest rates always rise. They will do so again. You don't imagine cheap money will last for ever? Such ill deserved faith in the banking system some hold. Quote Link to comment Share on other sites More sharing options...
newjez Posted January 16, 2016 Share Posted January 16, 2016 Why on earth would interest rates rise ? Be sensible. If the aud crashes, what do you think will happen to inflation? What do you think will happen to inflation when we hit the bottom of this deflationary spiral. So, you have a choice between spiralling stagflation or interest rate rises. They may just put up with inflation like hey did in the UK, (of imported consumer goods, not assets), and watch the wealth of Australians errors. The rba and govt could be stuck between a rock and a hard place. Might not happen. But then the stock market might not crash in the next couple of weeks. Quote Link to comment Share on other sites More sharing options...
Parley Posted January 16, 2016 Share Posted January 16, 2016 There is absolutely no inflation to worry about. There hasn't been for years and none for years to come. Quote Link to comment Share on other sites More sharing options...
CNC FABS Posted January 19, 2016 Share Posted January 19, 2016 perhaps slightly off topic. But IMHO and nothing else. I regard the threat of a crash affecting Melbourne much like my experience of the last one here in the Uk. Different parts of the country will feel it differently, very differently. As someone who owned a manufacturing business here in the South east PO14 area. Yes there were lots of headlines, mass job losses across the Uk. Household names among them. Although there were not mass riots and food fights as some papers had forecast, with abandonment of the law to feed ones self. Here in the South East, there was enough momentum of wealth , population needing services etc. for life to go on and folks to just wait for the dip to pass. My house I bought in 2005 for £250 k never dropped below that value (just sold it for £ 350) I had work every day and money in the bank. I'm just a normal working person, no magician. So I regard the risk in Melbourne at least mostly the same. It has a broad population on skills, with both manufacturing, transport and service sectors. A population size great enough to give it a certain momentum (unlike smaller cities). I know it will be different on other states, WA in particular. Just don't reach for the cyanide because of published stats. Be smart, spread risk where possible (ie low ltv mortgage is possible). and don't give up drinking:yes: Quote Link to comment Share on other sites More sharing options...
newjez Posted January 19, 2016 Share Posted January 19, 2016 There is absolutely no inflation to worry about.There hasn't been for years and none for years to come. So, you think this cheap oil is here to stay? Quote Link to comment Share on other sites More sharing options...
Parley Posted January 19, 2016 Share Posted January 19, 2016 So, you think this cheap oil is here to stay? Unfortunately yes it will stay low through 2016 at least and in most likely into 2017. May go up a bit late in the year but probably only $40. We will get another interest rate cut too in the next 3 to 4 months. Quote Link to comment Share on other sites More sharing options...
newjez Posted January 19, 2016 Share Posted January 19, 2016 Unfortunately yes it will stay low through 2016 at least and in most likely into 2017.May go up a bit late in the year but probably only $40. We will get another interest rate cut too in the next 3 to 4 months. Many agree with you http://www.telegraph.co.uk/finance/oilprices/12107395/Drowning-oil-market-is-here-to-stay-warns-IEA.html Quote Link to comment Share on other sites More sharing options...
newjez Posted January 19, 2016 Share Posted January 19, 2016 http://www.telegraph.co.uk/finance/financetopics/davos/12108569/World-faces-wave-of-epic-debt-defaults-fears-central-bank-veteran.html Always thought this a pipe dream. Not so sure now. Quote Link to comment Share on other sites More sharing options...
Guest Posted January 19, 2016 Share Posted January 19, 2016 With iffy data out of Britain and no chance of an interest rate rise looks like the Aussie dollar is strengthening up against the pound. I was very lucky to change some at 2.17 a while back. Quote Link to comment Share on other sites More sharing options...
Bibbs Posted January 20, 2016 Share Posted January 20, 2016 Unfortunately yes it will stay low through 2016 at least and in most likely into 2017.May go up a bit late in the year but probably only $40. We will get another interest rate cut too in the next 3 to 4 months. I've heard $16 mentioned by people in the business. Once Iran comes on, they'll be adding half a million barrels a day soon, and then another half a million after. That'll have the knock on of stripping Saudi of any of it's savings (~650 billion in the bank, but they overspent by ~250 billion last year). Once Saudi goes broke, they'll throw their toys out the pram and start another big war in the ME (unlike the proxy wars now). That could raise the price. But it'll be a few years in the pipeline .. Quote Link to comment Share on other sites More sharing options...
CNC FABS Posted January 20, 2016 Share Posted January 20, 2016 With iffy data out of Britain and no chance of an interest rate rise looks like the Aussie dollar is strengthening up against the pound. I was very lucky to change some at 2.17 a while back. I thought 2.20 was certain, with a weaker $au, stronger Uk economy and interest rates likely to finally rise this year. But how things change. All economic news coming out of the UK is the confident, institutions talk with great warning and now we are all starting to think is Brexit real, with a EU vote looming in the autumn ? Bugger. Quote Link to comment Share on other sites More sharing options...
CNC FABS Posted January 20, 2016 Share Posted January 20, 2016 I've heard $16 mentioned by people in the business. Once Iran comes on, they'll be adding half a million barrels a day soon, and then another half a million after. That'll have the knock on of stripping Saudi of any of it's savings (~650 billion in the bank, but they overspent by ~250 billion last year). Once Saudi goes broke, they'll throw their toys out the pram and start another big war in the ME (unlike the proxy wars now). That could raise the price. But it'll be a few years in the pipeline .. Saudi fighting a real war...no way. They would never risk such a thing. It would be the end of the country, another split waste land like Iraq. The royals would flee to London, spending there time in Harrods or with rent boys. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.