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The state of the economy at the street level

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IFocus said:
Importing gas because of market forces not sovereign requirements points to the madness.
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The big problem with natural resources in Australia is the lottery winner mentality.

I'm happy to go into factual detail if there's interest, though arguably this isn't the right thread, but the basic problem is that instead of viewing gas discoveries as a means to supply the needs of Australian industrial users along with small business and households, we've viewed it as hitting the jackpot then flogged it off in the lowest value way possible, just shipping out gas.

As a concept that's akin to someone who inherits a decent share portfolio, all of which are solid blue chip companies, then sells the lot and promptly blows the money. Now they're looking for a job, any job.....

I'll avoid politics beyond saying all sides are to blame and that the inevitable result was known a very long time ago. The reports are in the archives.
 
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Smurf1976 said:
The big problem with natural resources in Australia is the lottery winner mentality.
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sadly not unique to Australia , but very obvious here
Smurf1976 said:
As a concept that's akin to someone who inherits a decent share portfolio, all of which are solid blue chip companies, then sells the lot and promptly blows the money.
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yes i was VERY tempted to do that , but decided otherwise ( for better or worse )\

and even sadder is most attempts to \value add' the commodity/resource is entangled in bureaucratic tape , and then taxed , and taxed , and taxed again

and it took a l-o-n-g time to get here , so no single government/party is all to blame
 
Smurf1976 said:
I'll avoid politics beyond saying all sides are to blame and that the inevitable result was known a very long time ago. The reports are in the archives.
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Yes sadly all sides are to blame except WA state Labor who stared down the big gas producers but I think WA will have problems also somewhere down the road.

What's really bad is no one appears to be embarrassed.
 
UMike said:
LOL The wife doesn't think so.

It's actually really struggling on the Street and political level.
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Australia has a huge thai network. Everyone seems to know everyone. Interestingly the women seem more resourceful than the men. My sons heading back there for some training and fights.

There's a lot of Aussies with manufacturing plants over there.
Country builds some big items and do it well. My cousin(thai) in laws company was building oil rigs. Fast cars and women were his downfall. Guy was a genius though.

Where are you going to be based at?
 
Not tk mention all the great utes built there
 

Most surfboards are now made in Asia best quality come out of Thailand
 
Chon Buri - Rayong
 
TimeISmoney said:
My local Bunnings was chockablock full today, basically not a spare car parking space in sight, same thing when I went to the local fishing store. Good luck if people think the interest rate will fall this year.
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whew , lucky i didn't go to Bunnings yesterday ( with a trailer )

but you MIGHT take that as a negative sign ( fixing up the shed/garage/house instead of going on holiday and getting the fishing tackle up to spec. as an alternate food source/holiday substitute )

( i hold WES , BWP and SUL , so am not so unhappy to hear that )
 
I largely agree. I think the intelligent way to do things would be leave the existing supply as is but the government needs to cut red tape and start approving new gas exploration and production, etc but make the approvals for new projects contingent upon them agreeing to supply a certain minimum percentage of output e.g. 30% to the domestic gas market. This would increase gas supply for Australia but at the same time still allow the project to remain viable and obtain financing and not increase sovereign risk in Australia.
 
The problem with that is gas gives off emissions which are trying to be mitigated, so companies that are using coal will figure how much do we have to spend to change to gas and then how long before we have to stop using gas alltogether.

We now have a situation where companies are working out whether it is viable to continue as a value adding process, just export the raw material, or close down.

Australia is painting itself into a corner at the moment, unless the Govt can offer them cheap power, because places like Indonesia will.

Interesting times.
 
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TimeISmoney said:
My local Bunnings was chockablock full today, basically not a spare car parking space in sight, same thing when I went to the local fishing store. Good luck if people think the interest rate will fall this year.
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Yeah bunnings packed my way as well.
It's weird though. There's cars driving around everywhere but everyone must just be walking around or something as the shops are not really full.
 
moXJO said:
Yeah bunnings packed my way as well.
It's weird though. There's cars driving around everywhere but everyone must just be walking around or something as the shops are not really full.
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I'm on a cruise ship ATM, it is heading from Japan back to Australia, so chock a block full of aussies.
Currently I'm on deck 14 where they have the rugby on Manly against something that sounds like Cronulla.

The area is packed with about 200 and only about 10 have a alcoholic drink in front of them, stubbies are $10 aus so it isn't the cost people just aren't spending.
Age profile early retirement 55 _ 75.
Normally they would all be drinking, it is bloody hot 30c and heading toward Taiwan and 2.30pm.
Oldies are being careful, that's for sure.
By the way, I counted myself in the 10 drinkers.
 
Definitely seeing this.
There's a undercurrent of businesses going broke and shutting up. All those discretionary spends were smashed early. More and more people are cutting out expenses that are hitting businesses closer to the essentials.

I wonder if free to air TV has seen a bump?
 
The luvvies may have some difficulty in explaining this graphic. To be fair I don't think it is all Labor's fault, the party formally known as the Liberals had a big hand in this as well.

What have these sniveling woke Marxists done about it apart from actually accelerating it?

Nuffin' bro nuffin'.

 
don't feel too bad Germany will catch up ( to us ) real soon

the silver lining might be all those that donate to Green causes might be too poor to continue donating to them
 

It’s always the same playbook; equality at all costs, but not the organisers of it.

Working hard earning a good income, can’t have that. What about your fellow citizens, the ones that want what you have but their philosophy does not allow them to work as hard.

Equal rights? Of course, unless you think differently from us.

Sadly, we need a major crash in the economy to wake the sheep so they can see who makes the wealth. A hint, it’s not governments.
 
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