http://au.news.yahoo.com/thewest/a/-/newshome/13888448/wa-economy-grows-twice-as-fast-as-chinas/

WA's economy is growing almost twice as fast as China's, according to figures that highlight the enormity of the resources boom.

The latest national accounts not only confirm that Australia is the world's miracle economy but shows WA grew 7.8 per cent in just the first three months of the year - almost equal to China's annual growth rate of 8.1 per cent.

In the 12 months to March, WA grew an astonishing 14.5 per cent, cementing the State's place as Australia's economic powerhouse.

WA's economic figures would have been even stronger had it not been for Cyclone Heidi, which temporarily shut iron ore exports from the Pilbara in January.

Australia's economy grew 4.3 per cent in the 12 months to March, including a seasonally adjusted 1.3 per cent in the March quarter.

Coming the day after the Reserve Bank cut the official cash rate by 25 basis points, the GDP figures took economists by surprise, being well above market expectations.

Treasurer Wayne Swan said all Australians should be brimming with pride over the figures, declaring they should silence the "doomsayers" talking down the economy.

"These figures send the loudest possible message to the world that Australia is the strongest performing developed economy bar none," he said. Shadow treasurer Joe Hockey conceded the figures were extraordinary but gave the Government no credit.

"Imagine what we could do as a nation if we had a decent Government," he said.

Deloitte Access Economics director Chris Richardson said WA never looked so much like China in its economic fundamentals, with its stunning pace of growth based on heavy construction.

"WA has what China needs," he said. "WA's economy is the perfect complement to China's.

"But, like China, you have your own two-speed economy. There are people on the wrong side of the boom in WA, like China, evident in skills shortages, wage growth and delivery delays."

The robust GDP result was attributed to higher household spending and the continuing strength of mining-related investment.

Household spending rose 1.6 per cent for the quarter, with services and dining out making a bigger contribution as traditional bricks and mortar retail stores still do it tough.

Despite increasing spending, households managed to maintain a high savings rating, putting away 9.3 per cent of their pay packet, indicating incomes grew strongly.

But housing and construction continued to struggle.

So what does all this say?

Lets recap the relevant points

(1) The Australian economy grew at 4.3%

(2) The WA economy grew at 14% based on mining investments

(3) The Retail spending grew at 1.6%

(4) The RBA said the economy growth was due to RETAIL and MINING

So if Retail only grew at 1.6% then it's clear that WA contributed to most of the the 4.3% growth in the Australian economy

What are you trying to insinuate?
That WA is not part of Australia?

The rest of Australia dragged the growth figure down by 10.2%.

Therefore the rest of Oz experienced negative growth of 10%. 

The rest of Australia is in recession. :(

......and Swan & Juliar are happy...... >:(

...and they still want to shag the golden goose.....the only sector showing growth of any significance...

....and smash the rest of us with a stupid carbon tax... :( :( :( :(

The resources boom is just another economic bubble.  Digging up the country and selling it for tuppence a tone is no way to run a country.

Prevailing wrote on Jun 7^th, 2012 at 1:55pm:

The resources boom is just another economic bubble.  Digging up the country and selling it for tuppence a tone is no way to run a country.

.......one must make hay while the sun shines.... http://www.anchoredbygrace.com/smileys/shine.gif

Dsmithy70 wrote on Jun 7^th, 2012 at 1:16pm:

What are you trying to insinuate? That WA is not part of Australia?

Where did I do that in my post?

I am simply breaking down the numbers for you

Maqqa wrote on Jun 7^th, 2012 at 2:09pm:

Dsmithy70 wrote on Jun 7th, 2012 at 1:16pm: What are you trying to insinuate? That WA is not part of Australia? Where did I do that in my post? I am simply breaking down the numbers for you

Well thanks for that.
What was WA contribution in 1980?

The only thing good about Western Australia is the large concentration of English.

We make or break a place you know.

To quote the tee shirt

"There are only two types of people. The English and those who wish they were."

Dsmithy70 wrote on Jun 7^th, 2012 at 2:12pm:

Maqqa wrote on Jun 7th, 2012 at 2:09pm: Dsmithy70 wrote on Jun 7th, 2012 at 1:16pm: What are you trying to insinuate? That WA is not part of Australia? Where did I do that in my post? I am simply breaking down the numbers for you Well thanks for that. What was WA contribution in 1980?

Dunno, but WA contributed me in 1981.  Value: priceless.

Swagman wrote on Jun 7^th, 2012 at 1:48pm:

The rest of Australia is in recession. :(

You forget that other little ray of sunshine; Queensland.


We're doin ok.  ;D

The contribution of states changes through time..when the price of commodities drops and when we eventually run out WA will be totally reliant on the rest of Australia once again. So we shouldnt get to carried away with whos contributing what because we are all one big country and with every decade a different state takes up the mantle of "highest earner"

BigOl64 wrote on Jun 7^th, 2012 at 2:17pm:

Swagman wrote on Jun 7th, 2012 at 1:48pm: The rest of Australia is in recession. :( You forget that other little ray of sunshine; Queensland. We're doin ok.  ;D

No states of Australia are in recession

Its funny...the mining super tax and carbon price was supposed to make mining in this country unaffordable and all our miners were going to migrate to third world countries where they could do whatever they pleased.
What happened?

Andrei.Hicks wrote on Jun 7^th, 2012 at 2:14pm:

The only thing good about Western Australia is the large concentration of English. We make or break a place you know. To quote the tee shirt "There are only two types of people. The English and those who wish they were."

What, floro white with rotten teeth, bad BO from an aversion to personal hygiene & thinking deep fried rat sh!t is a gourmet meal?

http://1.bp.blogspot.com/_duwhHQyKYrg/TEdUDcymlgI/AAAAAAAAAIY/8-7ZbzxUs4U/s1600/British.png

adelcrow wrote on Jun 7^th, 2012 at 2:21pm:

Its funny...the mining super tax and carbon price was supposed to make mining in this country unaffordable and all our miners were going to migrate to third world countries where they could do whatever they pleased. What happened?

Do you think these projects are organised overnight?

Some of these are too far gone in the process to be cancelled therefore must go ahead. Some are not as we have seen BHP put on hold a rafter of projects

Dont knock deep fried crap

Maqqa wrote on Jun 7^th, 2012 at 2:25pm:

adelcrow wrote on Jun 7th, 2012 at 2:21pm: Its funny...the mining super tax and carbon price was supposed to make mining in this country unaffordable and all our miners were going to migrate to third world countries where they could do whatever they pleased. What happened? Do you think these projects are organised overnight? Some of these are too far gone in the process to be cancelled therefore must go ahead. Some are not as we have seen BHP put on hold a rafter of projects

Is BHP solely invested in Australia?
Is BHP exposed to international capital markets?
Would BHP postpone projects due to international insecurity & fear within capital markets?
Would BHP ignore international factors & focus solely on whats occurring within Australia, a nation smaller than most international cities?

Swagman wrote on Jun 7^th, 2012 at 2:02pm:

Prevailing wrote on Jun 7th, 2012 at 1:55pm: The resources boom is just another economic bubble.  Digging up the country and selling it for tuppence a tone is no way to run a country. .......one must make hay while the sun shines.... http://www.anchoredbygrace.com/smileys/shine.gif

I call it terrorism

Dsmithy70 wrote on Jun 7^th, 2012 at 2:31pm:

Maqqa wrote on Jun 7th, 2012 at 2:25pm: adelcrow wrote on Jun 7th, 2012 at 2:21pm: Its funny...the mining super tax and carbon price was supposed to make mining in this country unaffordable and all our miners were going to migrate to third world countries where they could do whatever they pleased. What happened? Do you think these projects are organised overnight? Some of these are too far gone in the process to be cancelled therefore must go ahead. Some are not as we have seen BHP put on hold a rafter of projects Is BHP solely invested in Australia? Is BHP exposed to international capital markets? Would BHP postpone projects due to international insecurity & fear within capital markets? Would BHP ignore international factors & focus solely on whats occurring within Australia, a nation smaller than most international cities?

BHP has put new projects across the globe on hold because of the global slowdown.
Whats that got to do with the mining super tax or the carbon price?

adelcrow wrote on Jun 7^th, 2012 at 2:33pm:

Dsmithy70 wrote on Jun 7th, 2012 at 2:31pm: Maqqa wrote on Jun 7th, 2012 at 2:25pm: adelcrow wrote on Jun 7th, 2012 at 2:21pm: Its funny...the mining super tax and carbon price was supposed to make mining in this country unaffordable and all our miners were going to migrate to third world countries where they could do whatever they pleased. What happened? Do you think these projects are organised overnight? Some of these are too far gone in the process to be cancelled therefore must go ahead. Some are not as we have seen BHP put on hold a rafter of projects Is BHP solely invested in Australia? Is BHP exposed to international capital markets? Would BHP postpone projects due to international insecurity & fear within capital markets? Would BHP ignore international factors & focus solely on whats occurring within Australia, a nation smaller than most international cities? BHP has put new projects across the globe on hold because of the global slowdown. Whats that got to do with the mining super tax or the carbon price?

Could you show us these projects across the world

Maqqa wrote on Jun 7^th, 2012 at 2:35pm:

adelcrow wrote on Jun 7th, 2012 at 2:33pm: Dsmithy70 wrote on Jun 7th, 2012 at 2:31pm: Maqqa wrote on Jun 7th, 2012 at 2:25pm: adelcrow wrote on Jun 7th, 2012 at 2:21pm: Its funny...the mining super tax and carbon price was supposed to make mining in this country unaffordable and all our miners were going to migrate to third world countries where they could do whatever they pleased. What happened? Do you think these projects are organised overnight? Some of these are too far gone in the process to be cancelled therefore must go ahead. Some are not as we have seen BHP put on hold a rafter of projects Is BHP solely invested in Australia? Is BHP exposed to international capital markets? Would BHP postpone projects due to international insecurity & fear within capital markets? Would BHP ignore international factors & focus solely on whats occurring within Australia, a nation smaller than most international cities? BHP has put new projects across the globe on hold because of the global slowdown. Whats that got to do with the mining super tax or the carbon price? Could you show us these projects across the world

Email BHP and ask them..im not your mum

here ya go

http://www.bhpbilliton.com/home/contact/Pages/default.aspx

ask away

Dsmithy70 wrote on Jun 7^th, 2012 at 2:31pm:

Maqqa wrote on Jun 7th, 2012 at 2:25pm: adelcrow wrote on Jun 7th, 2012 at 2:21pm: Its funny...the mining super tax and carbon price was supposed to make mining in this country unaffordable and all our miners were going to migrate to third world countries where they could do whatever they pleased. What happened? Do you think these projects are organised overnight? Some of these are too far gone in the process to be cancelled therefore must go ahead. Some are not as we have seen BHP put on hold a rafter of projects Is BHP solely invested in Australia? No Is BHP exposed to international capital markets? Yes Would BHP postpone projects due to international insecurity & fear within capital markets? Yes and no because capital should have been secured for these projects. However if the cost assumptions (carbon tax) have changed then the terms of credit would need to be reassessed Would BHP ignore international factors & focus solely on whats occurring within Australia, a nation smaller than most international cities? If you are referring to small - why do you ignore that Australia emits 1.3% of total carbon emissions and a 5% decrease will not change global temperature. Hence the carbon tax is stupid. Without the carbon tax then there would be more incentive to continue the projects

adelcrow wrote on Jun 7^th, 2012 at 2:37pm:

Maqqa wrote on Jun 7th, 2012 at 2:35pm: adelcrow wrote on Jun 7th, 2012 at 2:33pm: Dsmithy70 wrote on Jun 7th, 2012 at 2:31pm: Maqqa wrote on Jun 7th, 2012 at 2:25pm: adelcrow wrote on Jun 7th, 2012 at 2:21pm: Its funny...the mining super tax and carbon price was supposed to make mining in this country unaffordable and all our miners were going to migrate to third world countries where they could do whatever they pleased. What happened? Do you think these projects are organised overnight? Some of these are too far gone in the process to be cancelled therefore must go ahead. Some are not as we have seen BHP put on hold a rafter of projects Is BHP solely invested in Australia? Is BHP exposed to international capital markets? Would BHP postpone projects due to international insecurity & fear within capital markets? Would BHP ignore international factors & focus solely on whats occurring within Australia, a nation smaller than most international cities? BHP has put new projects across the globe on hold because of the global slowdown. Whats that got to do with the mining super tax or the carbon price? Could you show us these projects across the world Email BHP and ask them..im not your mum

You made the claims so it's up to you to back it up!!

adelcrow wrote on Jun 7^th, 2012 at 2:18pm:

BigOl64 wrote on Jun 7th, 2012 at 2:17pm: Swagman wrote on Jun 7th, 2012 at 1:48pm: The rest of Australia is in recession. :( You forget that other little ray of sunshine; Queensland. We're doin ok.  ;D No states of Australia are in recession

Would that be because of their excellent manufacturing base, earning the big bucks for Australia?  ;D

Admit it, if it wasn't for QLD and WA putting in the hard yards and earning Australia's export coin, we would all be on the dole.

Vic, SA and taswegia are all circling the drain as far as industry and employment goes and they desperately need to rip the wealth out of QLD & WA to keep them afloat.  ;D

This digging up and selling off the farm is a security issue for the nation.

BigOl64 wrote on Jun 7^th, 2012 at 2:41pm:

adelcrow wrote on Jun 7th, 2012 at 2:18pm: BigOl64 wrote on Jun 7th, 2012 at 2:17pm: Swagman wrote on Jun 7th, 2012 at 1:48pm: The rest of Australia is in recession. :( You forget that other little ray of sunshine; Queensland. We're doin ok.  ;D No states of Australia are in recession Would that be because of their excellent manufacturing base, earning the big bucks for Australia?  ;D Admit it, if it wasn't for QLD and WA putting in the hard yards and earning Australia's export coin, we would all be on the dole. Vic, SA and taswegia are all circling the drain as far as industry and employment goes and they desperately need to rip the wealth out of QLD & WA to keep them afloat.  ;D

5.1 % unemployment in sa

adelcrow wrote on Jun 7^th, 2012 at 2:44pm:

BigOl64 wrote on Jun 7th, 2012 at 2:41pm: adelcrow wrote on Jun 7th, 2012 at 2:18pm: BigOl64 wrote on Jun 7th, 2012 at 2:17pm: Swagman wrote on Jun 7th, 2012 at 1:48pm: The rest of Australia is in recession. :( You forget that other little ray of sunshine; Queensland. We're doin ok.  ;D No states of Australia are in recession Would that be because of their excellent manufacturing base, earning the big bucks for Australia?  ;D Admit it, if it wasn't for QLD and WA putting in the hard yards and earning Australia's export coin, we would all be on the dole. Vic, SA and taswegia are all circling the drain as far as industry and employment goes and they desperately need to rip the wealth out of QLD & WA to keep them afloat.  ;D 5.1 % unemployment in sa

And how is SA's car manufacturing industry staying afloat? It doesn't earn dick for the country and sucks up billions in government handouts.


If it wasn't for the great wineries, it would better to turn off the lights and shut the state down.

BigOl64 wrote on Jun 7^th, 2012 at 2:52pm:

adelcrow wrote on Jun 7th, 2012 at 2:44pm: BigOl64 wrote on Jun 7th, 2012 at 2:41pm: adelcrow wrote on Jun 7th, 2012 at 2:18pm: BigOl64 wrote on Jun 7th, 2012 at 2:17pm: Swagman wrote on Jun 7th, 2012 at 1:48pm: The rest of Australia is in recession. :( You forget that other little ray of sunshine; Queensland. We're doin ok.  ;D No states of Australia are in recession Would that be because of their excellent manufacturing base, earning the big bucks for Australia?  ;D Admit it, if it wasn't for QLD and WA putting in the hard yards and earning Australia's export coin, we would all be on the dole. Vic, SA and taswegia are all circling the drain as far as industry and employment goes and they desperately need to rip the wealth out of QLD & WA to keep them afloat.  ;D 5.1 % unemployment in sa And how is SA's car manufacturing industry staying afloat? It doesn't earn dick for the country and sucks up billions in government handouts. If it wasn't for the great wineries, it would better to turn off the lights and shut the state down.

u sound stressed..unemployment is low thoughout the country

adelcrow wrote on Jun 7^th, 2012 at 2:55pm:

u sound stressed..unemployment is low thoughout the country

I'm a North Queenslander living in North Queensland, waiting for the second state of origin next week ,to once again flog six shades of sh1t out of the cockroaches; why would I be stressed.  ;D

BigOl64 wrote on Jun 7^th, 2012 at 3:07pm:

adelcrow wrote on Jun 7th, 2012 at 2:55pm: u sound stressed..unemployment is low thoughout the country I'm a North Queenslander living in North Queensland, waiting for the second state of origin next week ,to once again flog six shades of sh1t out of the cockroaches; why would I be stressed.  ;D

what's the unemployment rate in WA compared to the rest of the country?

where are the majority of the 22 million Australians living? HINT: there are only 1.74M in Perth