http://au.news.yahoo.com/latest/a/-/latest/9273848/us-shocks-no-longer-australias-worry-imf/

It used to be said that if the United States sneezed, the Australian economy caught the flu. But no more.

An analysis by the International Monetary Fund (IMF) has found that in the past 10 years, economic shocks in the US no longer have a significant impact on Australia. But Asia does.

In a separate article on Australia and New Zealand in its Regional Outlook for the Asia Pacific released in Hong Kong on Thursday, the IMF said economic shocks from the emerging economies of Asia have overtaken the US as the most important external factor influencing Australian business.

Using a sample period from 1991 to 2010, it found a one per cent shock to US gross domestic product (GDP) led to a move of about 0.4 per cent in Australian growth.

In contrast, GDP shocks from emerging Asian economies had an almost negligible impact on Australia.

However, the result for the shorter sample period of 2000-2010 was dramatically different, with a one per cent shock in emerging Asia producing a shift in Australian growth of 0.33 per cent.

"The impact of US GDP shocks on Australia is no longer statistically significant," the report says.

As such, the long-term trend of continued strong growth in emerging Asia bodes well for Australia.

"Should emerging Asia continue to grow notably faster than the world average, the impact on Australia will be even larger than in the past," the IMF's modelling found.

"This larger impact reflects both the increase in emerging Asia's economic size and Australia's growing integration with emerging Asia."

Over the next 10 years, the analysis suggests that a 50 per cent increase in emerging Asia's GDP, driven by tradeable sector productivity growth, would raise the Australian GDP by about 20 per cent.
"However, should emerging Asia's economic growth become more balanced, with productivity growth in both tradeable and non-tradeable sectors contributing equally, the growth dividend is roughly about half, owing to more modest improvements in the terms of trade of Australia," it says.

If we are to believe the International Monetary Fund - this has been happening in the last 10 years

The GFC was caused by the US

Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010

So who do we believe?

Maqqa wrote on Apr 28^th, 2011 at 4:37pm:

If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe?

Get a grip
All economists agree that it was the stimulis spending that allowed us to ride it out as we did.
Kudos to Costello for the surplus that allowed us to do it.

Dsmithy70 wrote on Apr 28^th, 2011 at 4:40pm:

Get a grip All economists agree that it was the stimulis spending that allowed us to ride it out as we did. Kudos to Costello for the surplus that allowed us to do it.

:-?  :-?

We can be thankfull for Keatings vision, for Costellos good managment and Swanns courage in saving this country from the global economic meltdown.
If we had taken up Abbott's policies we would be in such an economic hole it would take decades to dig us out

It certainly sounds and looks like the government are planning a budget that is setting us up for the bad times ahead. Tough budget yes. Tax the air=good times no.

America farted and we got diarrhoea lol

Thanks Mr Keating.

adelcrow wrote on Apr 28^th, 2011 at 4:47pm:

We can be thankfull for Keatings vision, for Costellos good managment and Swanns courage in saving this country from the global economic meltdown. If we had taken up Abbott's policies we would be in such an economic hole it would take decades to dig us out

I can't see how the scary mr McSquat could argue that Tony Abbott isn't the odd one out!??!  :o :o :o :o :-/ :o :o :o :o :o :-? ......  ;D

Maqqa wrote on Apr 28^th, 2011 at 4:37pm:

If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe?

Primary Industry concentrates wealth!!!!

Economics isn't trivia. You can't read about it on the back of a weetbix packet and pretend you understand it because the economy is a complex system!!!

:D ;) ;)

Does Maqsqatt even realise that the West Australian (Liberal party for chissakes!!!) Premier does not like the word 'boom'?

I wonder why that would be.....?!!? The answer'll be in the history books that is for damn sure!


ht]Does Maqsqatt even realise that the West Australian (Liberal party for chissakes!!!) Premier does not like the word 'boom'?

I wonder why that would be.....?!!? The answer'll be in the history books that is for damn sure!


:o :o :o :o :D ;D

Does Maqsqatt even realise that the West Australian (Liberal party for chissakes!!!) Premier does not like the word 'boom'?

I wonder why that would be.....?!!? The answer'll be in the history books that is for damn sure!


ht]Does Maqsqatt even realise that the West Australian (Liberal party for chissakes!!!) Premier does not like the word 'boom'?

I wonder why that would be.....?!!? The answer'll be in the history books that is for damn sure!


:o :o :o :o :D ;D

Does Maqsqatt even realise that the West Australian (Liberal party for chissakes!!!) Premier does not like the word 'boom'?

I wonder why that would be.....?!!? The answer'll be in the history books that is for damn sure!


ht]Does Maqsqatt even realise that the West Australian (Liberal party for chissakes!!!) Premier does not like the word 'boom'?

I wonder why that would be.....?!!? The answer'll be in the history books that is for damn sure!


:o :o :o :o :D ;D

Does Maqsqatt even realise that the West Australian (Liberal party for chissakes!!!) Premier does not like the word 'boom'?

I wonder why that would be.....?!!? The answer'll be in the history books that is for damn sure!


ht]Does Maqsqatt even realise that the West Australian (Liberal party for chissakes!!!) Premier does not like the word 'boom'?

I wonder why that would be.....?!!? The answer'll be in the history books that is for damn sure!


:o :o :o :o :D ;D

:'( :'( :'(

The Liberal Opposition swore black and blue that the surplus must be preserved at all costs and went against the sameTreasury officials that advised Keating, Costello and Swann and instead fought for the same
policies that actually turned the 1930's recession into the Great Depression!

Yep..The Liberal Opposition were wrong again  :)

Dsmithy70 wrote on Apr 28^th, 2011 at 4:40pm:

Maqqa wrote on Apr 28th, 2011 at 4:37pm: If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe? Get a grip All economists agree that it was the stimulis spending that allowed us to ride it out as we did. Kudos to Costello for the surplus that allowed us to do it.

smithy and the BOOMING mining...which never stopped though to hear it said.. it only happened on Howards watch..

mining has increased I read somewhere by 40%... not bad yet now we are doing it tough....mmmmmmm admittedly Japan sneezed.not gillards fault I know.. but shouldnt we have been prepared???...we couldnt even help Qld.

adelcrow wrote on Apr 28^th, 2011 at 5:32pm:

The Liberal Opposition swore black and blue that the surplus must be preserved at all costs and went against the sameTreasury officials that advised Keating, Costello and Swann and instead fought for the same policies that actually turned the 1930's recession into the Great Depression! Yep..The Liberal Opposition were wrong again  :)

dont recall that at all. crowy got a link?


I think if the Libs had been in they would have used the surplus as well...

this to me doesnt really worry me about the money or the surplus its what we have to show for it.. that counts..

debt anyone would expect to have..but our debt is growing daily.. and what do we have to show for it??.. is it [the borrowings] now helping to pay for the stimulus that they are afraid to stop?

more detention centres I guess..like I said we couldnt even help QLD we have to have a levy to fix the floods..amazing!

Maqqa wrote on Apr 28^th, 2011 at 4:37pm:

If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe?

You Simple Simon arse motherbuggerer. No wonder you believe the ridiculous poo that you do   :o

astro_surf wrote on Apr 28^th, 2011 at 9:20pm:

Maqqa wrote on Apr 28th, 2011 at 4:37pm: If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe? You Simple Simon arse motherbuggerer. No wonder you believe the ridiculous poo that you do   :o

That's it?

I like how the swear filter came up with motherbuggerer. Apparently f**king a mother in the arse is less offensively than just f**king her  :o

Ex Dame Pansi wrote on Apr 28^th, 2011 at 4:57pm:

It certainly sounds and looks like the government are planning a budget that is setting us up for the bad times ahead. Tough budget yes. Tax the air=good times no. America farted and we got diarrhoea lol

I'll pay that one! lol

Maqqa wrote on Apr 28^th, 2011 at 4:37pm:

If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe?

Now there's a question Maqqa?

Who do YOU believe & more to the point, what do YOU believe, IF ANYHTING, BEYOND YOUR SPIN???

perceptions_now wrote on Apr 28^th, 2011 at 10:33pm:

Maqqa wrote on Apr 28th, 2011 at 4:37pm: If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe? Now there's a question Maqqa? Who do YOU believe & more to the point, what do YOU believe, IF ANYHTING, BEYOND YOUR SPIN???

If you ask Wayne Swan his name - he would lie. So this moron should never be trusted. Swan shouldn't trust Swan

The IMF has no reason to give an unbiased views.

cods wrote on Apr 28^th, 2011 at 7:45pm:

Dsmithy70 wrote on Apr 28th, 2011 at 4:40pm: Maqqa wrote on Apr 28th, 2011 at 4:37pm: If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe? Get a grip All economists agree that it was the stimulis spending that allowed us to ride it out as we did. Kudos to Costello for the surplus that allowed us to do it. smithy and the BOOMING mining...which never stopped though to hear it said.. it only happened on Howards watch.. mining has increased I read somewhere by 40%... not bad yet now we are doing it tough....mmmmmmm admittedly Japan sneezed.not gillards fault I know.. but shouldnt we have been prepared???...we couldnt even help Qld.

There's a lot of voters out there who know exactly how many extra profits are going out of our country!!!

There's a lot of voters out there who know exactly how many extra profits are going out of our country!!!

There's a lot of voters out there who know exactly how many extra profits are going out of our country!!!

There's a lot of voters out there who know exactly how many extra profits are going out of our country!!!

There's a lot of voters out there who know exactly how many extra profits are going out of our country!!!

There's a lot of voters out there who know exactly how many extra profits are going out of our country!!!

There's a lot of voters out there who know exactly how many extra profits are going out of our country!!!

There's a lot of voters out there who know exactly how many extra profits are going out of our country!!!

Maqqa wrote on Apr 28^th, 2011 at 10:37pm:

perceptions_now wrote on Apr 28th, 2011 at 10:33pm: Maqqa wrote on Apr 28th, 2011 at 4:37pm: If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe? Now there's a question Maqqa? Who do YOU believe & more to the point, what do YOU believe, IF ANYHTING, BEYOND YOUR SPIN??? If you ask Wayne Swan his name - he would lie. So this moron should never be trusted. Swan shouldn't trust Swan The IMF has no reason to give an unbiased views.

Is that the extent of your "financial knowledge", what someone else tells YOU?

Forget about Swan & the IMF!

Are YOU saying, that the USA is now decoupled from Australian & Global Economics?

Are YOU saying, that Australia and most other countries are not & will not, be linked into what is happening & will happen, in the good old USA?

astro_surf wrote on Apr 28^th, 2011 at 9:56pm:

I like how the swear filter came up with motherbuggerer. Apparently f**king a mother in the arse is less offensively than just f**king her  :o

a pity it doesnt just blank you out permanently if thats the best you can do..

perceptions_now wrote on Apr 29^th, 2011 at 12:07am:

Maqqa wrote on Apr 28th, 2011 at 10:37pm: perceptions_now wrote on Apr 28th, 2011 at 10:33pm: Maqqa wrote on Apr 28th, 2011 at 4:37pm: If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe? Now there's a question Maqqa? Who do YOU believe & more to the point, what do YOU believe, IF ANYHTING, BEYOND YOUR SPIN??? If you ask Wayne Swan his name - he would lie. So this moron should never be trusted. Swan shouldn't trust Swan The IMF has no reason to give an unbiased views. Is that the extent of your "financial knowledge", what someone else tells YOU? Forget about Swan & the IMF! Are YOU saying, that the USA is now decoupled from Australian & Global Economics? Are YOU saying, that Australia and most other countries are not & will not, be linked into what is happening & will happen, in the good old USA?

macca is quoting the IMF..

they are claiming that a shivver in Americas economy did not impact on Australias economy since 2000..

yet swan claimed all along that because of his fantastic economic ability he saved Australia from the American meltdown...

which mean that Americas economic situation does impact on Australia....


so whos right the IMF or swan?

from what I can gather both America and Australia are up to their necks in debt to China..China is already holding the gun to Americas head.!!!!

Maqqa wrote on Apr 28^th, 2011 at 4:37pm:

If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe?

IMF Deputy Managing Director compliments Australian response to GFC
4/03/2010  

Mr Murilo Portugal, Deputy Managing Director of the International Monetary Fund has given a positive reading of the global economy, but says that financial stability remains fragile, and is a continuing concern for the IMF.

“We have revised upwards our projections for global growth this year to close to four percent and for next year 4.3 percent. This represents an upward revision of three quarters of a percentage point from our October projection. This is the good news.”

Mr Portugal is visiting Australia to meet with Reserve Bank and Treasury officials and government ministers. As part of this visit he presented a lecture for the Australian School of Business at the University of New South Wales.

“Australia has done very well,” he says. ”It was very resilient to the global turmoil.”

Australia had positive growth last year. He says “This is the only case amongst advanced economies. This is due to very strong initial conditions.”

Giving a pat on the back to how the Federal Government reacted to the global financial crisis he says that its policy response was very well designed and timely.

http://www.asb.unsw.edu.au/newsevents/mediaroom/media/2010/march/Pages/imfmanagingdirector.aspx

yes we know about that buzz.. he could hardly say otherwise seeing as he was going to visit this vast continent..

however when Greece and Ireland were almost down the gurgle he is spouting global growth..and recovery from the massive meltdown

I have no faith in anything that comes out of the IMF to be honest..but to each his own

cods wrote on Apr 29^th, 2011 at 6:54am:

perceptions_now wrote on Apr 29th, 2011 at 12:07am: Maqqa wrote on Apr 28th, 2011 at 10:37pm: perceptions_now wrote on Apr 28th, 2011 at 10:33pm: Maqqa wrote on Apr 28th, 2011 at 4:37pm: If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe? Now there's a question Maqqa? Who do YOU believe & more to the point, what do YOU believe, IF ANYHTING, BEYOND YOUR SPIN??? If you ask Wayne Swan his name - he would lie. So this moron should never be trusted. Swan shouldn't trust Swan The IMF has no reason to give an unbiased views. Is that the extent of your "financial knowledge", what someone else tells YOU? Forget about Swan & the IMF! Are YOU saying, that the USA is now decoupled from Australian & Global Economics? Are YOU saying, that Australia and most other countries are not & will not, be linked into what is happening & will happen, in the good old USA? macca is quoting the IMF.. they are claiming that a shivver in Americas economy did not impact on Australias economy since 2000.. yet swan claimed all along that because of his fantastic economic ability he saved Australia from the American meltdown... which mean that Americas economic situation does impact on Australia.... so whos right the IMF or swan? from what I can gather both America and Australia are up to their necks in debt to China..China is already holding the gun to Americas head.!!!!

Cods,
Have you taken up answering, on behalf of Maqqa?

Can she not answer, for herself?

In any event, forgetting about Swan & the IMF, the questions are -
Are YOU saying, that the USA is now decoupled from Australian & Global Economics?

Are YOU saying, that Australia and most other countries are not & will not, be linked into what is happening & will happen, in the good old USA?

If you want to throw in YOUR 2 cents worth, as well, feel free to do so!

perceptions_now wrote on Apr 29^th, 2011 at 12:32pm:

cods wrote on Apr 29th, 2011 at 6:54am: perceptions_now wrote on Apr 29th, 2011 at 12:07am: Maqqa wrote on Apr 28th, 2011 at 10:37pm: perceptions_now wrote on Apr 28th, 2011 at 10:33pm: Maqqa wrote on Apr 28th, 2011 at 4:37pm: If we are to believe the International Monetary Fund - this has been happening in the last 10 years The GFC was caused by the US Swan has blamed the GFC for the budget deficits for 2008, 2009 and 2010 So who do we believe? Now there's a question Maqqa? Who do YOU believe & more to the point, what do YOU believe, IF ANYHTING, BEYOND YOUR SPIN??? If you ask Wayne Swan his name - he would lie. So this moron should never be trusted. Swan shouldn't trust Swan The IMF has no reason to give an unbiased views. Is that the extent of your "financial knowledge", what someone else tells YOU? Forget about Swan & the IMF! Are YOU saying, that the USA is now decoupled from Australian & Global Economics? Are YOU saying, that Australia and most other countries are not & will not, be linked into what is happening & will happen, in the good old USA? macca is quoting the IMF.. they are claiming that a shivver in Americas economy did not impact on Australias economy since 2000.. yet swan claimed all along that because of his fantastic economic ability he saved Australia from the American meltdown... which mean that Americas economic situation does impact on Australia.... so whos right the IMF or swan? from what I can gather both America and Australia are up to their necks in debt to China..China is already holding the gun to Americas head.!!!! Cods, Have you taken up answering, on behalf of Maqqa? Can she not answer, for herself? In any event, forgetting about Swan & the IMF, the questions are - Are YOU saying, that the USA is now decoupled from Australian & Global Economics? Are YOU saying, that Australia and most other countries are not & will not, be linked into what is happening & will happen, in the good old USA? If you want to throw in YOUR 2 cents worth, as well, feel free to do so!

The USA imposed a so called FREE TRADE AGREEMENT upon Australia in order to protect its speculators and corporation from crIminal behaviour in this country on in world courts.

It also locks us in to US defence contracts and the push for 50+ nuclear power reactors as well as nuclear dump sites all over the country - and of course the nuclear power stations will be built by Us corporations such as GE. Just like teh Fukushima boiling water reactors.

And the genius Howard signed the agreement AND our economic sovereignty over in 2006.

WELL DONE HONEST JOHN

http://3.bp.blogspot.com/_jZxpDOhengc/SW2zDXdCNhI/AAAAAAAABTU/FpOKDg-FNZk/s400/14+1+09+Howard+Bush+medal.jpg