Lazarus wrote:gunderson wrote:china has had insurmountable financial issues for a very very long time, their entire construction sector has been a white elephant this entire time, and its completely collapsed, there is no saving their economy from total recession/depression.
True, and because we have tied our prosperity to theirs by so concentrating our trade, when that sh!t hits the fan we are getting splattered
Australia's financial future is doomed, anyone stupid enough to continually elect mongs that endlessly make the nations GDP resource based is asking for a flogging fiscally.
Aussies, in general, are idiots, they have the government they deserve, the amount of times I've heard my mates who own small businesses in the city (service based, for example: cafe's and restaurants), parrot this line that they contribute to the economy, I am beyond amazed that they genuinely believe it.
They parrot this line all the while they furnish their homes with furniture and appliances from foreign countries, drive an imported car, buy produce that comes from overseas, food from overseas, the coffee they sell in their shops comes from overseas, the workers they hire are doing the same, all foreign origin products.
They have no idea about how the economy actually works, this is the reason Aussies suffer cost of living issues, recessions, etc etc, despite having one of the most generous resource/population ratios in the world. We as a nation have basically no locally owned, operated and moderated business, everything is world parody prices, nothing is made here, and the stuff that is made here or dug up here or grown here is sent overseas and then bought back off of global companies at a mark up with the pressure of world parody pricing.
what this means is that every item sold here, has the majority of its cost sent overseas, aka, massive sink hole,
The same applies to literally every single government job there is, all are paid for off the efforts and backs of what industry there is left... the tax revenue from every worker and business, there is no net gain from any job they do... sure it is essential, god forbid we stop having essential services, public health, transport and policing as well as emergency services, but those working those sectors need to drop the delusion that they contribute to the economy, because they don't, they double dip more or less.
Australia is now in a debt spiral it cannot escape, the cost of living and inevitable wage inflation is going to guarantee that we as a nation continue to get into more and more debt as each subsequent government cant see the forest for the trees and wants to just keep running in blindfolded riding on the back of the whore and harlot that is mining and oil and gas.
The sheer hypocrisy of both major parties is rife, but labors constant authoritarian moves in the name of "the environment" whilst still providing absolutely no alternative industry for the workers and economic benefit of Australia, hell they just went out of their way to destroy the latest Space industry startup here in Australia. Without a much bigger push for tech based economic growth, Australia may as well concede defeat now. And even then, we are already priced out of the vast majority of that industry because of wages.
Forget Aussies picking up any engineering and precision electronics from the Europeans as well, The average Aussie workforce is well below standard for moving to any of that whilst being in any way competent enough to compete globally.
We are basically 70 years behind the ball here, we have mastered digging holes, and have literally chased away all other industry with the pitchfork of poor choices.