True, but wisdom and age beat youth and inexperience.
Only if that wisdom does indeed exist, which quite often it does not.
The oldest president of the USA ever to be voted in was your good friend and idol, Mr. Donald Trump. Do you consider him to be the most wise in that nation's great history?
Old age and wisdom don't necessarily go together.
Look back through history and you'll quickly see that every single time there is any kind of significant economic downturn, every single time without fail, governments go on massive infrastructure binges. We don't need to go into why or our personal opinions on it being a good idea or not, we only need to think about the fact that it is going to happen.
And roads, bridges, railways etc etc all require a lot of steel, concrete, rocks and so forth, much of which australia provides literally most of the world's supply of. Combine this with much of the competition failing to control the virus and it just ravaging their populations/shutting their economies down, and things are going to be more than peachy for the minerals sector going forward.
This is not complicated.
In today's paper, just in case you need more confirmation, the IMF agree with me. But hey I'm o.k if you don't, we are both just using our experience in our reasoning.You bring your age up again as though it is a default for wisdom or experience, but such things don't come automatically with age, even if there is a correlation. You seem to think that since you're old you must be correct. This is not the case.
In today's paper, just in case you need more confirmation, the IMF agree with me. But hey I'm o.k if you don't, we are both just using our experience in our reasoning.
From the article:Australia to escape worst of recession but faces debt mountain: IMF
The IMF has upgraded its forecasts for the Australian economy but much still hinges on the creation of a safe and widely available vaccine.www.smh.com.au
The coronavirus recession will not be as deep as feared for Australia, the International Monetary Fund believes, but it will take years to recover with ongoing high levels of unemployment and government debt.
In its world economic outlook released overnight, the fund said it expects the Australian economy to contract by 4.2 per cent this year before growing by 3 per cent in 2021.
The forecasts are a sharp improvement on what the IMF was expecting in April, during the depths of nation-wide health restrictions, when it believed the economy would shrink by 6.7 per cent before growing by 6.1 per cent.
The better growth outlook translates into an improved forecast for the jobs market. Unemployment is tipped to reach 6.9 per cent this year and then increase to 7.7 per cent through 2021. In April, the IMF was forecasting unemployment to reach 8.9 per cent next year.
Look mate, I personally don't give a rats ar$e one way or the other.Oh, you cherry picked an online article which agrees with you! Hey, there's no comeback to that, I mean, it's from the SMH, an entirely non partisan news outlet which serves as a beacon of truth and integrity, a veritably fountain of infallible information. Clearly you are all seeing and almighty, oh wise one.
Very true 9k, the mass shift globally to renewables should also add to the infrastructure spend, as a lot of the renewable devices use a different resource mix than has been usual in the past. For example a 13GW solar farm will possibly use a lot more aluminum than the coal fired stations they are replacing, also i would think BEV's will be upping the aluminum content to reduce weight, which in turn will marginally reduce the steel content. The steel sector will have plenty of work as you say with the infrastructure build, it should be an interesting 2021 IMO, especially if a vaccine is developed.Look back through history and you'll quickly see that every single time there is any kind of significant economic downturn, every single time without fail, governments go on massive infrastructure binges. We don't need to go into why or our personal opinions on it being a good idea or not, we only need to think about the fact that it is going to happen.
And roads, bridges, railways etc etc all require a lot of steel, concrete, rocks and so forth, much of which australia provides literally most of the world's supply of. Combine this with much of the competition failing to control the virus and it just ravaging their populations/shutting their economies down, and things are going to be more than peachy for the minerals sector going forward.
This is not complicated.
Look mate, I personally don't give a rats ar$e one way or the other.
I put forward my thoughts, you put forward yours, they are only thoughts. it isn't as though either of us has a glass ball mate, so no need to start with the personal crap.
So rant on and knock yourself out, I wont bother engaging in discussion with you, obviously you prefer an echo chamber. ?
Here is a few others who disagree with your pessimism.Haha! Yes, your wisdom shines ever brighter!
If I liked echo chambers I clearly wouldn't be engaging with people who completely disagree with me. I'd probably be stating that I will no longer bother engaging with people who disagree with me. Oh, wait, I think I just saw someone doing exactly that!
Maybe if you live a bit longer you'll gain enough wisdom not to get riled up and demonstrate hypocrisy when someone disagrees with you and doesn't buy your empty attempts at validating yourself.
Here is a few others who disagree with your pessimism.
O.K on what basis do you think this recession is going to be the worst Australia has faced?You realise the internet is really really big and you can find as many articles as you like backing up any position you want, right? I'm not going to sit here and cherry pick articles talking about the most extreme doom and gloom predictions and say "See? There are all these articles online saying X, so X must be true!"
Then there's the political edge to things as the markets are starting to price a biden win in - TAN (renewable energy ETF) and CGC (marijuana producer) have both shot up in response.
O.K on what basis do you think this recession is going to be the worst Australia has faced?
That's good, we are in agreement then.I didn't claim it would. You claimed to be so amazingly wise, you should at least be able to refrain from putting claims into other people's mouths.
Well the odds are 3:1 against trump and the market overall is increasing along with renewables & marijuana on a tear way above the market, so if you were correct we'd see either both slumping or the market overall increasing but renewables & marijuana going nowhere, and neither is occurring.Marijuana and renewable energy would be among the very few things which would benefit from a Biden win, although if Biden was to win the economy would take an incredible tumble and even those stocks would be dragged down.
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