Australian Politics Forum - Mining boom is over

Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: Mining boom is over - What's next ? Reply #60 - Aug 24^th, 2012 at 10:01am How about a bitter, old low wage anti-American lady with no principles on human rights as a source?
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BigOl64

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Re: Mining boom is over - What's next ?
Reply #61 - Aug 24^th, 2012 at 10:01am

Andrei.Hicks wrote on Aug 24^th, 2012 at 9:47am:

LOL

RT

What next?

Al Jazeera or the state run news agency of Iran??
Grin

It's not even the news item that was posted, it was the ignorant opinions of a couple of readers, that just happen to align with her ignorant opinion.

We have certainly plummeted to a new low when the posting of personal comments from dodgy news sources passes as valid content.

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Ex Dame Pansi Gold Member Offline Australian Politics Posts: 24168	Re: Mining boom is over - What's next ? Reply #62 - Aug 24^th, 2012 at 10:07am Andrei.Hicks wrote on Aug 24^th, 2012 at 10:01am: How about a bitter, old low wage anti-American lady with no principles on human rights as a source? 1/5 anti-American was right. Go and stand in the corner you silly boy.
Back to top	"When the power of love overcomes the love of power, the world will know peace." Hendrix andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up..... IP Logged

Andrei.Hicks

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Re: Mining boom is over - What's next ?
Reply #63 - Aug 24^th, 2012 at 10:10am

Ex Dame Pansi wrote on Aug 24^th, 2012 at 10:07am:

Andrei.Hicks wrote on Aug 24^th, 2012 at 10:01am:

How about a bitter, old low wage anti-American lady with no principles on human rights as a source?

1/5

anti-American was right.

Go and stand in the corner you silly boy.

You're not old?!?

Sorry love, hate to break it to you....

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Ex Dame Pansi

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Re: Mining boom is over - What's next ?
Reply #64 - Aug 24^th, 2012 at 10:16am

BigOl64 wrote on Aug 24^th, 2012 at 10:01am:

Andrei.Hicks wrote on Aug 24^th, 2012 at 9:47am:

LOL

RT

What next?

Al Jazeera or the state run news agency of Iran??
Grin

It's not even the news item that was posted, it was the ignorant opinions of a couple of readers, that just happen to align with her ignorant opinion.

We have certainly plummeted to a new low when the posting of personal comments from dodgy news sources passes as valid content.

Posting of personal comments is the whole idea of the forum ha ha

BHP say it's not the carbon or mining tax. Ignorant Tony says it is, and like a good little sheeple, you agree with him.

He made a total fool of himself and you copy him.

You think we can slag on a trading partner and get off scot free. China don't need to invade like the USA, they use other methods now they are numero uno.

They were clearly unimpressed with us having more US bases and the lies Stephen Smith told them.

Payback time, cop it sweet.

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« Last Edit: Aug 24^th, 2012 at 12:23pm by Ex Dame Pansi »

"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....

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Sir lastnail

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Re: Mining boom is over - What's next ?
Reply #65 - Aug 24^th, 2012 at 11:36am

BigOl64 wrote on Aug 24^th, 2012 at 5:48am:

Sir lastnail wrote on Aug 23^rd, 2012 at 8:40pm:

BigOl64 wrote on Aug 23^rd, 2012 at 3:03pm:

Sir lastnail wrote on Aug 23^rd, 2012 at 2:50pm:

the way that Holden and Ford are going they will close themselves down because they took your great advice and left the "high techy things to china and the US" Sad

Guess what ? Bad advice Sad

So you believe that I am the personal technical advisor to both the CEOs of Ford and Holden in Australia.

Cool, while I was unaware of any actual meeting with these very important people and even more surprising this not even my field of expertise.

Just wondering did these bloke come and see me or did I go and see them? You know for my memoirs.

Thanks for keeping up to date with what is happening in MY life.

BTW those high techy things you keep alluding to aren't cars, they're things like super computers, super colliders, fighter jets, nuclear power plants, satellites, robotics, spacecraft, etc.

But as a qualified engineer, you probably already knew that, didn't you? Grin

don't worry about it dumbarse.

Just leave the high tecchy things to china and then we can all have careers driving rickshaws for the wealthy chinese tourists Wink

Thanks for replying so quickly to my questions.

But you seemed to have not understood the question, because you have used you Standard Reply for Everything, again.

It seems you go to a lot of effort to reply but no effort at all to answer the questions posed, just cut and paste for your stash of one answer for every question pile.

But is is good to know that your at least not banging on endlessly about germans or electric cars or german electric cars.

I think out of the two of us, you will be the only one pulling a rickshaw when the chinese come to town. You may have bobby making googly eyes, but the rest of us have you worked out. Grin

no one understands anything you write simply because you can't understand it either.

like I said, just stick to pulling rickshaws for the wealthy chinese tourists Wink

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Sir lastnail Gold Member Offline Australian Politics Posts: 30923 Gender:	Re: Mining boom is over - What's next ? Reply #66 - Aug 24^th, 2012 at 11:38am Andrei.Hicks wrote on Aug 24^th, 2012 at 10:01am: How about a bitter, old low wage anti-American lady with no principles on human rights as a source? speaking of human rights. How is freedom and democracy going in Iraq ?? Have you been there for a holiday lately ??
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... Gold Member Offline Posts: 23673 WA Gender:	Re: Mining boom is over - What's next ? Reply #67 - Aug 24^th, 2012 at 11:44am Pffft Who needs mining? The new GREEN ECONOMY will save us all. Just as soon as someone actually figures out what the new GREEN ECONOMY actually is, over and above a pretty catch-all buzzword.
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Sir lastnail

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Re: Mining boom is over - What's next ?
Reply #68 - Aug 24^th, 2012 at 12:47pm

... wrote on Aug 24^th, 2012 at 11:44am:

Pffft Who needs mining?

The new GREEN ECONOMY will save us all.

Just as soon as someone actually figures out what the new GREEN ECONOMY actually is, over and above a pretty catch-all buzzword.

It's saving germany but then you have to be serious about it to get anywhere. It's a lot easier just to set fire to fossil fools and cut trees down. To a brain dead libbo unsustainable sh.t jobs are more important than anything else in the universe Sad

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perceptions_now

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Re: Mining boom is over - What's next ?
Reply #69 - Aug 24^th, 2012 at 1:25pm

freediver wrote on Aug 23^rd, 2012 at 5:57pm:

perceptions_now wrote on Aug 23^rd, 2012 at 12:53pm:

freediver wrote on Aug 23^rd, 2012 at 12:42pm:

The dollar will drop.
Interest rates will drop.
Other industries will pick up.

FD,
Why?
Why?
Which industries & why?

The dollar will drop because we are exporting less mined stuff - people will be buying fewer AU$ with which to purchase the mined stuff, so the price of the AU$ will go down. It was the mining boom that was pushing the AU$ up.

Interest rates will drop for similar reasons - fewer locals borrowing money to invest directly or indirectly in the mining boom, so the price of money goes down too. However this is strongly influenced by the global money market. But it is also influenced by the reserve bank, which responds to local conditions.

All other industries not directly affected by mining will pick up, because they can borrow more easily. Residential and commercial (capital city) building are perhaps the most sensitive.

Also, people looking for somewhere to invest money will start looking more outside the mining sector.

You raise some very valid points, FD and they certainly would be part of what is & will influence current & future events!

That said, those are not the only factors in play now, nor will they be in the future.

For example, the rise of the OZ$ certainly has been influenced by the mining boom in Australia, but there are also other factors in play.

One of which is the perceived relative "safe haven" status of the OZ$ compared to some of the other past Global favourites, such as the US$, the GBP & the Euro.

The above 3 currencies have been at the top of the international currency dung heap, but both the Euro & the GBP have already started to Decline & at some point in the not too distant future the US$ will also Decline significantly AND cease being the Global Currency! Each of these 3 areas already have massive Debt compared to OZ & I expect that comparison to improve from an OZ perspective & to degenerate further for the US, UK & EURO countries.

So, it will be a tussle to see, who wins the most & who loses the most?

I would suggest, with the US losing its Global status & the EURO area going into much greater Debt & a deeper Economic Recession than Australia, it is quite possible that the OZ$ could be higher in the decade ahead?

I agree, as I have previously indicated, that interest rates will fall!

They will fall largely because the OZ Economy will Decline, as the Global Economy has already been doing since around 2006.

The standard Economists rule is if the Economy starts to go into Decline, then governments should implement the usual Keynesian stimulus approach & Central Banks make funds cheaper to borrow, all of which sees Business & Consumers enticed back into the market, Demand spikes & the Economy again starts to pick up.

However, that will & can not happen on this occasion, due to once in history Demographic, Energy, Debt & Climate Change factors and those factors will also ensure that there is no resurgence in other, none mining related industries!!!
A hint of that reasoning, can be seen in what has happened in Japan, since 1990. With mainly the Demographic issue influencing events there, Japan's Debt has increased massively & their Economy has languished, even whilst the rest of the world went into a massive boom, as the Global Demographic Boomer Boom played out.

Btw, for those interested, the OZ mining sector is not dead, but it is infected by a number of incurable ailments.

So whilst it isn't yet dead, it is dying, to catch up with the "Exponential Economic Growth Fairy", which has already passed on, may it RIP!

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« Last Edit: Aug 24^th, 2012 at 5:40pm by perceptions_now »

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perceptions_now

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Re: Mining boom is over - What's next ?
Reply #70 - Aug 24^th, 2012 at 5:44pm

freediver wrote on Aug 24^th, 2012 at 8:37am:

bobbythefap1 wrote on Aug 23^rd, 2012 at 10:06pm:

freediver wrote on Aug 23^rd, 2012 at 9:56pm:

Our financial system has 7 pillars arranged in a circle, so that none of them are the centre pillar, just like the southern cross. The economists who designed it had this exact situation in mind.

so what would in your mind happen if the us pillar collapsed?

and which economist designed it?

The US is not even one of the pillars.

So then, what are the 7 Pillars, what is the theory & who is the Economist?

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bobbythefap1

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Re: Mining boom is over - What's next ?
Reply #71 - Aug 24^th, 2012 at 5:47pm

freediver wrote on Aug 24^th, 2012 at 8:37am:

bobbythefap1 wrote on Aug 23^rd, 2012 at 10:06pm:

freediver wrote on Aug 23^rd, 2012 at 9:56pm:

Our financial system has 7 pillars arranged in a circle, so that none of them are the centre pillar, just like the southern cross. The economists who designed it had this exact situation in mind.

so what would in your mind happen if the us pillar collapsed?

and which economist designed it?

The US is not even one of the pillars.

So you are saying nothing will happen to the world economy/financial system when the US collapses?

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freediver

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Re: Mining boom is over - What's next ?
Reply #72 - Aug 24^th, 2012 at 6:37pm

Quote:

The standard Economists rule is if the Economy starts to go into Decline, then governments should implement the usual Keynesian stimulus approach & Central Banks make funds cheaper to borrow, all of which sees Business & Consumers enticed back into the market, Demand spikes & the Economy again starts to pick up.

Straight from the textbook.

Quote:

However, that will & can not happen on this occasion, due to once in history Demographic, Energy, Debt & Climate Change factors and those factors will also ensure that there is no resurgence in other, none mining related industries!!!

There is always something. If they are the biggest problems you face then consider yourself lucky.

Quote:

So then, what are the 7 Pillars, what is the theory & who is the Economist?

Good question Perce. I was waiting for someone to ask. The seven pillars are sheep farming, state border duties, deforestation, whaling, stealing wages from aborigines, carbon taxation and the Queen. The system was designed by our first PM, Harold Holt. Prior to that people used to bury their money in the back yard and dig it up the next day in the hope it had turned into food, or a house. The trick to the new system was arranging the seven pillars so that all of the quarrelsome pairs are separated, which is a difficult task if you only have one queen. They solved this problem by using metaphorical pillars rather than real ones. This caused a mass debate at the time. People said, how can an economy stand on pillars that don't actually exist? Well let me tell you, history has proven the naysayers wrong. 'Nay!' it says, right back at them.

Quote:

So you are saying nothing will happen to the world economy/financial system when the US collapses?

Something will happen, but it won't be the end of the world. The US will not collapse completely. It won't get much lower than it is now. We are already trending away from trade with the US. They only make up a few percent of the world population, and everyone else is getting rich much quicker.

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bobbythefap1

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Re: Mining boom is over - What's next ?
Reply #73 - Aug 24^th, 2012 at 7:07pm

freediver wrote on Aug 24^th, 2012 at 6:37pm:

Quote:

The standard Economists rule is if the Economy starts to go into Decline, then governments should implement the usual Keynesian stimulus approach & Central Banks make funds cheaper to borrow, all of which sees Business & Consumers enticed back into the market, Demand spikes & the Economy again starts to pick up.

Straight from the textbook.

Quote:

However, that will & can not happen on this occasion, due to once in history Demographic, Energy, Debt & Climate Change factors and those factors will also ensure that there is no resurgence in other, none mining related industries!!!

There is always something. If they are the biggest problems you face then consider yourself lucky.

Quote:

So then, what are the 7 Pillars, what is the theory & who is the Economist?

Good question Perce. I was waiting for someone to ask. The seven pillars are sheep farming, state border duties, deforestation, whaling, stealing wages from aborigines, carbon taxation and the Queen. The system was designed by our first PM, Harold Holt. Prior to that people used to bury their money in the back yard and dig it up the next day in the hope it had turned into food, or a house. The trick to the new system was arranging the seven pillars so that all of the quarrelsome pairs are separated, which is a difficult task if you only have one queen. They solved this problem by using metaphorical pillars rather than real ones. This caused a mass debate at the time. People said, how can an economy stand on pillars that don't actually exist? Well let me tell you, history has proven the naysayers wrong. 'Nay!' it says, right back at them.

Quote:

So you are saying nothing will happen to the world economy/financial system when the US collapses?

Something will happen, but it won't be the end of the world. The US will not collapse completely. It won't get much lower than it is now. We are already trending away from trade with the US. They only make up a few percent of the world population, and everyone else is getting rich much quicker.

you are denying the realities of debt

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perceptions_now

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Re: Mining boom is over - What's next ?
Reply #74 - Aug 24^th, 2012 at 8:11pm

freediver wrote on Aug 24^th, 2012 at 6:37pm:

Quote:

The standard Economists rule is if the Economy starts to go into Decline, then governments should implement the usual Keynesian stimulus approach & Central Banks make funds cheaper to borrow, all of which sees Business & Consumers enticed back into the market, Demand spikes & the Economy again starts to pick up.

Straight from the textbook.

Quote:

However, that will & can not happen on this occasion, due to once in history Demographic, Energy, Debt & Climate Change factors and those factors will also ensure that there is no resurgence in other, none mining related industries!!!

There is always something. If they are the biggest problems you face then consider yourself lucky.

Quote:

So then, what are the 7 Pillars, what is the theory & who is the Economist?

Good question Perce. I was waiting for someone to ask. The seven pillars are sheep farming, state border duties, deforestation, whaling, stealing wages from aborigines, carbon taxation and the Queen. The system was designed by our first PM, Harold Holt. Prior to that people used to bury their money in the back yard and dig it up the next day in the hope it had turned into food, or a house. The trick to the new system was arranging the seven pillars so that all of the quarrelsome pairs are separated, which is a difficult task if you only have one queen. They solved this problem by using metaphorical pillars rather than real ones. This caused a mass debate at the time. People said, how can an economy stand on pillars that don't actually exist? Well let me tell you, history has proven the naysayers wrong. 'Nay!' it says, right back at them.

Quote:

So you are saying nothing will happen to the world economy/financial system when the US collapses?

Something will happen, but it won't be the end of the world. The US will not collapse completely. It won't get much lower than it is now. We are already trending away from trade with the US. They only make up a few percent of the world population, and everyone else is getting rich much quicker.

I sometimes wonder how Harold is travelling?

Still on that Chinese submarine, maybe?

Perhaps, they may finally let him go, if his financial system designs get them thru this GFC?

Ah, the ever present Optimist!

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