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AUSTRALIA - you're "the TOPS" ! (Read 7439 times)
buzzanddidj
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AUSTRALIA - you're "the TOPS" !
Apr 19th, 2012 at 10:14am
 
Australian economy leads the world

Jessica Wright
April 18, 2012 .



...



Australia has the strongest economy in the developed world and it is expected to outperform all comers for at least the next two years, according to the International Monetary Fund.

 
The IMF - which issued its World Economic Outlook in Washington overnight - said it expected the Australian economy to expand by 3 per cent this year as fiscal tensions from Europe and the United States continue to ease.

The body stated that after a major setback last year with the Eurozone crisis, the global prospect of far more stable financial conditions was gradually improving.

The update said that it expects
the Australian economy will outstrip growth over all other advanced economies over the next two years
, noting we live in a region where exposure to troubled European banks was less than for other parts of the world.

But it also warned that Australia was exposed to risk if economic conditions in the Middle East caused another oil price spike.

The organisation revised up its global growth forecasts, with the global economy expected to grow by 3.5 per cent in 2012, up from 3.3 per cent in the January update.

A forecast of global growth of 4.1 per cent in 2013 has also been revised up from 3.9 per cent.

Global growth continues to be underpinned by solid growth in Asia, the report said.

China's economy was expected to grow 8.2 per cent in 2012 and 8.8 per cent in 2013, while India was expected to grow 6.9 per cent in 2012 and 7.3 per cent in 2013. These forecasts were broadly unchanged from the IMF's January update.

The IMF also forecasts Australia's unemployment rate to remain low at 5.2 per cent in both 2012 and 2013.

"With solid growth, low unemployment, contained inflation, strong public finances and a record pipeline of business investment, the Australian economy is the standout performer of the developed world"



The government has hit out at Opposition leader Tony Abbott for ''getting it wrong'' on the IMF growth forecasts.

During a morning doorstop, Mr Abbott said the IMF report showed the local economy was ''underperforming'', as they had downgraded the economic growth forecast.

''It forecasts 3 per cent for the current financial year and it looks like we are going to get 2 per cent,'' Mr Abbott said.

''This is an underperforming economy and it's underperforming because of the poor economic management of the current government.''

But Mr Abbott's assertion was not correct, according to a spokesman for the Treasurer, who said the growth forecast of 3 per cent in 2012 had been the same since the start of the year.




http://www.smh.com.au/opinion/political-news/australian-economy-leads-the-world-...





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Re: AUSTRALIA - you're "the TOPS" !
Reply #1 - Apr 19th, 2012 at 10:23am
 
Thanks Johnny Howard and Peter Costello for 11 years of responsible economic management.....

...
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Re: AUSTRALIA - you're "the TOPS" !
Reply #2 - Apr 19th, 2012 at 10:38am
 
Swagman wrote on Apr 19th, 2012 at 10:23am:
Thanks Johnny Howard and Peter Costello for 11 years of responsible economic management.....

http://smileys.on-my-web.com/repository/Happy/happy-052.gif


Geez. What a load of tripe. The last thing i would call howard is "responsible". Treasonous bastard more like.

SOB
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Re: AUSTRALIA - you're "the TOPS" !
Reply #3 - Apr 19th, 2012 at 11:07am
 
Swagman wrote on Apr 19th, 2012 at 10:23am:
Thanks Johnny Howard and Peter Costello for 11 years of responsible economic management.....

http://smileys.on-my-web.com/repository/Happy/happy-052.gif


hear hear.

And to Keating for making significant changes prior to that.
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Re: AUSTRALIA - you're "the TOPS" !
Reply #4 - Apr 19th, 2012 at 11:29am
 
Swagman wrote on Apr 19th, 2012 at 10:23am:
Thanks Johnny Howard and Peter Costello for 11 years of responsible economic management.....

Don't you mean "Thanks Johnny Howard and Peter Costello for holding a massive fire sale of public assets"?
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Re: AUSTRALIA - you're "the TOPS" !
Reply #5 - Apr 19th, 2012 at 11:31am
 
Quote:
Australia has the strongest economy in the developed world and it is expected to outperform all comers for at least the next two years, according to the International Monetary Fund.

 

The IMF also forecasts Australia's unemployment rate to remain low at 5.2 per cent in both 2012 and 2013.

"With solid growth, low unemployment, contained inflation, strong public finances and a record pipeline of business investment, the Australian economy is the standout performer of the developed world"



i
It's ALL in the GROUNDWORK ...









OECD praise for Canberra's stimulus package

Tim Colebatch
September 17, 2009.

THE Federal Government has won glowing support for its controversial economic stimulus
, with the Western world's leading think tank saying the strategy will save up to 200,000 jobs.

The Organisation for Economic Co-operation and Development's annual employment outlook says Australia will be one of the Western countries to suffer least in the global financial crisis.
And it says the Government's stimulus has already had a strong effect in cushioning the downturn,
undermining Opposition attacks on the size of the program
.


Its data shows Australia spends just 0.01 per cent of GDP on training its unemployed - the equal lowest in the OECD along with Mexico and the Czech and Slovak republics.

They show
the Howard government cut spending on active labour market programs in its last two years as the skills shortage became more acute.



By contrast, the OECD report singles out the Rudd Government's stimulus measures for praise.


It estimates Australia's stimulus has been the third largest in the Western world at 5.4 per cent of GDP, exceeded only by Korea (6.1) and the US (5.7).

''Even though many countries moved quickly to enact large fiscal stimulus packages, these packages generally have not had a strong effect in cushioning the initial decline in employment caused by the crisis, although
Australia is a notable exception
,'' it says.



http://www.theage.com.au/business/oecd-praise-for-canberras-stimulus-package-200...i



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Re: AUSTRALIA - you're "the TOPS" !
Reply #6 - Apr 19th, 2012 at 11:37am
 
Bu this can not be true, all the rightards tell us Labor have stuffed the place beyond recognition and there is no hope but to elect Abbott to return Australia to its former glory. Tell me they aren't all just telling great big lies to appease their own partisan agenda,say it isn't so.
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Re: AUSTRALIA - you're "the TOPS" !
Reply #7 - Apr 19th, 2012 at 11:43am
 
Shock as country that sits on a pile of natural resources has a strong economy.

What excellent economic job you have done.

Well done too to Kuwait and Saudi Arabia for also managing to run surpluses in these tough times.....

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Re: AUSTRALIA - you're "the TOPS" !
Reply #8 - Apr 19th, 2012 at 11:51am
 
Just wait till the Coalition take over next year and they expose the horrible truth of just how sick Australia really is !!!!!

But, don't worry, the expert competent economic Coalition managers will fix up the unholy mess that the Australian economy is in, once they have taken over from the pathetically hopeless Laborites+Communist Greens and restore Australia to genuine prosperity.
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Re: AUSTRALIA - you're "the TOPS" !
Reply #9 - Apr 19th, 2012 at 12:56pm
 
I wonder if the STates have anything to do with it.. though getting a tick from the IMF.. doesnt do it for me...


as far as I know they do bugger all except make wonky predictions..have we turned the corner yet.. Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin
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Re: AUSTRALIA - you're "the TOPS" !
Reply #10 - Apr 19th, 2012 at 2:05pm
 
Sprintcyclist wrote on Apr 19th, 2012 at 11:07am:
Swagman wrote on Apr 19th, 2012 at 10:23am:
Thanks Johnny Howard and Peter Costello for 11 years of responsible economic management.....

http://smileys.on-my-web.com/repository/Happy/happy-052.gif


hear hear.

And to Keating for making significant changes prior to that.




Australia vs the GFC




Paul Keating   - Structure and Training


Peter Costello - Head Start


Kevin Rudd
Wayne Swan  - Marathon Relay Team 2008-2009
Lindsay Tanner









So, regardless of where you want to give the CREDIT ( ... or lay the BLAME) for the current Australian economic climate, we agree on at least ONE TRUTH



In April, 2012, Australia is the "EVEREST" of global economies






( ... this is neither a matter of opinion or perception ...
It is a matter of data, statistics and FACT)






Which leaves the question ...


WHY ARE THE OPPOSITION SO DETERMINED TO DISCREDIT IT AND "TALK IT DOWN" ?




And from some of the negativity HERE, you'd think we were talking about Zimbabwe, rather than this economic rock of stability we are fortunate enough to be a part of





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Re: AUSTRALIA - you're "the TOPS" !
Reply #11 - Apr 19th, 2012 at 2:46pm
 
Frances wrote on Apr 19th, 2012 at 11:29am:
Swagman wrote on Apr 19th, 2012 at 10:23am:
Thanks Johnny Howard and Peter Costello for 11 years of responsible economic management.....

Don't you mean "Thanks Johnny Howard and Peter Costello for holding a massive fire sale of public assets"?


........because JH & PC inherited the usual massive public debt that ALL Labor Govts love to accrue with their unsustainable spending and pork barrelling... Sad

Unsustainable spending = either tax increases or public asset sales --------> the Labor / Coalition election cycle. Cheesy Cheesy

PS.  if you look at the value of Telstra these days....selling it to pay off some debt was a master stroke... Sad
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Re: AUSTRALIA - you're "the TOPS" !
Reply #12 - May 23rd, 2012 at 1:46pm
 
AUSTRALIA - you're
STILL
"the TOP" !

May 23, 2012


The Organisation for Economic Co-operation and Development (OECD) says the Australian economy is expected to grow at a faster rate than most other advanced economies in 2012 and 2013.

It predicts that Australia's economy will grow at 3.1 per cent in 2012 and 3.7 per cent in 2013, and welcomes the Federal Government's commitment to delivering a budget surplus.


But the organisation warns that the crisis in the eurozone poses the single largest risk to the global economy.

The organisation has endorsed the Government's plan to boost its cash reserves while the economy is strong and demand for resource exports is still high, and says lowering interest rates will help offset any negative impact of budget tightening.

In the budget handed down earlier this month, the Federal Government forecast growth of about 3.25 per cent slowing to 3 per cent.

Federal Treasurer Wayne Swan says the report confirms yet again that
Australia is the stand-out performer on the global stage.


"It's consistent with the fact that we have got
solid growth
,
long unemployment
,
contained inflation
,
strong public finances
and a
record pipeline of business investment
in resources," he said.

"I think it is good news. I mean, Australia has a triple-A credit rating from the three major credit rating agencies"



Global implications

The report warns that a failure to act immediately could lead to a worsening European crisis with serious global consequences.

In November, the OECD warned if the eurozone did not tackle its debt crisis, there could be a deep recession with global implications.

Six months on, the organisation says these immediate dangers have receded somewhat, but have not disappeared.

The OECD predicts
the eurozone's economy will shrink by 0.1 per cent this year.


By contrast,
the US economy will expand by 2.4 per cent.

The OECD also expects
eurozone unemployment to stay high, at 10.8 per cent this year.



http://au.news.yahoo.com/nsw/latest/a/-/article/13756178/oecd-issues-stark-euroz...



Aussies better off than ever

May 02, 2012



MANY families may be struggling to make ends meet but a new report says
we are much better off than in previous decades.


The latest AMP.NATSEM Income and Wealth Report shows Australian household income is outpacing the cost of living over the longer term, with disposable incomes increasing 20 per cent over the last 27 years.

It says the average family is better off by $224 per week in real terms
.

But the report points out that since 1984 the cost of living has skyrocketed with everyday essentials such as electricity (up 253 per cent), petrol (208 per cent) and public transport costs (287 per cent) all soaring.

But those rises have been partially offset by dramatic drops in audio visual and computing, which now cost one tenth what they did in 1984, while average prices for clothing, footwear and major household appliances have changed little, and are often lower today than 27 years ago.

AMP Financial Services managing director Craig Meller said the report shows households today are more focused on lifestyles and aspirations than they were in the 80s.

"Many Australians are leading busier lives and facing greater demands on their time, which means we're now paying for things we may not have previously, such as childcare, gardening and housekeeping," Mr Meller said.

"We've also seen a noticeable shift in spending habits with people
spending more on education, holidays and eating out
.


"Essentially we seem to be leading bigger lifestyles, all of which can add to
perceived cost of living pressures
"


The report says incomes have outpaced the cost of living across the board since 1984 and couples with children have seen their income grow by 37 per cent, single parent incomes have grown 34 per cent, and working families 22 per cent.

Expenses for secondary students have grown by 264 per cent, mostly attributed to higher private school fees.

Maintaining good health has not come cheap either - medical, dental and insurance costs have increased at even greater rates, jumping 560 per cent, 356 per cent and 346 per cent respectively.

And if think petrol prices are outrageous, think again because we are amongst the lowest in the developed world.
Only Canada, the United States and Mexico have cheaper petrol prices.

Australia's average unleaded petrol price of around $1.40 per litre is significantly cheaper than most European countries where petrol can cost more than $2 per litre.


Unsurprisingly, Sydney is the most expensive city in Australia, and Adelaide is the cheapest.



http://www.news.com.au/business/aussies-better-off-than-ever/story-fn7mjon9-1226...




Not that you'd KNOW just how WELL we're faring - listening to all the
depressing, ungrateful "what about me" DOOMSAYERS
that haunt these such forums

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Re: AUSTRALIA - you're "the TOPS" !
Reply #13 - May 23rd, 2012 at 1:59pm
 
Can't wait for word from Joe Hockey. You watch, he'll be saying this is bad news because we can only go downhill from here.  Cheesy
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Re: AUSTRALIA - you're "the TOPS" !
Reply #14 - May 23rd, 2012 at 2:06pm
 
Swagman wrote on Apr 19th, 2012 at 10:23am:
Thanks Johnny Howard and Peter Costello for 11 years of responsible economic management.....

http://smileys.on-my-web.com/repository/Happy/happy-052.gif




Thanks Costello for your honest opinion of Abbott.


Abbott is an economic illiterate.



Why let Abbott destroy our great economy.
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