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Thought this subject will become more and more topical over the coming months. Will post later but feel free to kick it off
 
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What amuses me is the way people panic and say it's all 666 anti christ we are all going to go under rubbish. Yet these people find cash to spend on crap such as Zara, Coldplay Tickets or State of Origin football :lol:

There was a world war but people got through the depression. What is causing this is talk and spooking investors. It is complicated, but the most likely outcome is most will be sipping Latte's in Double Bay trying to decide what to buy at Topshop or Zara with their bonuses. This is serious but it is not the end of the world. People should just cut expenses, do charity work to help others in trouble and relax. In no time you will be at the Apple store buying your 5th tablet. It is serious but it is NOT the end of the world.
 

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I agree, its fucking hilarious. Pubs can still charge $40 for a steak here in Perth and theres no shortage of peopel lining up for them yet we're all doomed!!!!

For 5 fucking years we've been told we're doomed. You can turn on the TV without seeing something about 5 jobs being lost in some shit hole of a manufacturer and the media makes it sound like the ultimate demise of our country. We barely hear of the all the new jobs being created in the economy.

Fucking media with its bullshit sensationalist world is gonna end shit spew just dampens sentiment amongst consumers and investors.
 

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Champagne Socialist
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$40 for a steak in Perth?

GTFO. that's like mid-high level restaurant prices for a steak in Melbourne - that's insane!
 

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Anecdotal evidence of the price of a steak in the most isolated city on earth, 20 thousand kilometres from Europe has little to do with the economic problems in Europe.

Which, btw, are very real.

I would be making hay whilst the sun shines, Australia is just another domino in the chain.

De-leverage, pay off your debt, put something away for a rainy day - you're gunna need it.

This show is just getting started.
 

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Its probably quite responsible to say that but this will all amount to nothing for us and I suspect you know it considering your recent "lifestyle" choices. If you were really worried you'd be working, bunkering down and saving.

Its funny how some people are saying one thing but doing another. I get why but its a bit tiring. Its amazing the power the media has to talk down the economy and make people scared in an economy doing as incredible as ours.
 

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Ryan, it's very real.

You don't know my full personal circumstances, and I won't share them on here.

You do know that I have de-leveraged my investments, and am now debt free.

I am well positioned to take advantage of the developing carnage and asset/commodity deflation.
 

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Sorry, I didn't mean to make it personal. I just don't believe you believe what your saying.
 

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$40 for a steak in Perth?

GTFO. that's like mid-high level restaurant prices for a steak in Melbourne - that's insane!

What about a $32 Pad Thai at a shitty suburban pub, extra chilli is $2 more

Serving of chips at a CBD pub - $13

Meat pie for one at a CBD pub - $36

Single slice of Franchise Pizza (Crust) - $12

Pint of shitty beer, I have seen for $20+

Perth based burger chain (Jus Burgers) opened up in Melbourne recently, all prices cheaper in Melbourne (5% - 10%)

I could go on, these are the ones that come to mind...

Perth is seriously expensive for food, much more $$ than Sydney or Melbourne.
 

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All of these anecdotes are just ever more proof that the mining boom is causing some serious long term damage to Australia and its economy.

Recent history is full of examples of resource exporters that went from healthy countries to basket cases overnight.

The best thing that could happen to Australia's long term economical and social health is that the bubble in China would burst tomorrow.
 

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Ryan's got an idiot mate to play with. lol !!

By the way, this is all part of the greater crisis that started a few years ago. It's all one in the same thing just being played out differently in different parts of the world at different points in time but the same thing.
 

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All of these anecdotes are just ever more proof that the mining boom is causing some serious long term damage to Australia and its economy.

Recent history is full of examples of resource exporters that went from healthy countries to basket cases overnight.

The best thing that could happen to Australia's long term economical and social health is that the bubble in China would burst tomorrow.
Great point. The long-term damage is being caused by the arrogance and "we're unbreakable" attitude that is being cultivated in the country.

The USA had exactly the same attitude in 2006, and look where they are now. Then people get so blinded by the state of the economy in current terms that they are unable to look ahead to the next 10 years, we're in trouble.

Much of the public and many politicans, Gillard included are in this boat and it is frightening. It's great now for some (but not for many others), but things have to change here.

Trying to go back on subject a little - did you know that Victoria now has a higher unemployment rate than many areas of the UK?

Take a look at this link - up to date to last month.... roll your mouse over it and you'll see the map is split into counties, much of it is WELL below the 5% we have here in victoria.

http://www.bbc.co.uk/news/10604117

Just thought it was actually quite interesting reading.
 

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No probs.

But, I do believe what I'm saying, but perhaps what I'm saying is being interpreted wrong - as is the case on the internet.
Quite probably, I never take anything on here too seriously, for that very reason.

What about a $32 Pad Thai at a shitty suburban pub, extra chilli is $2 more

Serving of chips at a CBD pub - $13

Meat pie for one at a CBD pub - $36

Single slice of Franchise Pizza (Crust) - $12

Pint of shitty beer, I have seen for $20+

Perth based burger chain (Jus Burgers) opened up in Melbourne recently, all prices cheaper in Melbourne (5% - 10%)

I could go on, these are the ones that come to mind...

Perth is seriously expensive for food, much more $$ than Sydney or Melbourne.
Plus worse service and quality. The Crust pizza thing still really gets to me.

All of these anecdotes are just ever more proof that the mining boom is causing some serious long term damage to Australia and its economy.

Recent history is full of examples of resource exporters that went from healthy countries to basket cases overnight.

The best thing that could happen to Australia's long term economical and social health is that the bubble in China would burst tomorrow.
Can we have some examples, recent examples as in last 5-10 years?

Is there any reason Australia never collapsed after previous mining booms? Perhaps it won't happen here. Not saying its not possible but more highly improbable.

Great point. The long-term damage is being caused by the arrogance and "we're unbreakable" attitude that is being cultivated in the country.

The USA had exactly the same attitude in 2006, and look where they are now. Then people get so blinded by the state of the economy in current terms that they are unable to look ahead to the next 10 years, we're in trouble.

Much of the public and many politicans, Gillard included are in this boat and it is frightening. It's great now for some (but not for many others), but things have to change here.

Trying to go back on subject a little - did you know that Victoria now has a higher unemployment rate than many areas of the UK?

Take a look at this link - up to date to last month.... roll your mouse over it and you'll see the map is split into counties, much of it is WELL below the 5% we have here in victoria.

Just thought it was actually quite interesting reading.
Well plenty of jobs over here for the Vics. We're importing them from all over the world and the Vics won't move 4 hours flight away for a job. I highly doubt Victoria is in a bad state but if it is there plenty that can be done.
 

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It is funny as since 2010 Melbourne has added like 30 000 manufacturing jobs while we've lost like 5 000 in the past year? It really isn't anything to worry about.
 

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Ultimate Hater said:
What about a $32 Pad Thai at a shitty suburban pub, extra chilli is $2 more

Serving of chips at a CBD pub - $13

Meat pie for one at a CBD pub - $36

Single slice of Franchise Pizza (Crust) - $12

Pint of shitty beer, I have seen for $20+

Perth based burger chain (Jus Burgers) opened up in Melbourne recently, all prices cheaper in Melbourne (5% - 10%)

I could go on, these are the ones that come to mind...

Perth is seriously expensive for food, much more $$ than Sydney or Melbourne.
As I believe you say in Australia 'strewth'! Those are insane prices...
 

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ooh said:
Trying to go back on subject a little - did you know that Victoria now has a higher unemployment rate than many areas of the UK?

Take a look at this link - up to date to last month.... roll your mouse over it and you'll see the map is split into counties, much of it is WELL below the 5% we have here in victoria.

http://www.bbc.co.uk/news/10604117

Just thought it was actually quite interesting reading.
Those are just people claiming JSA (unemployment benefit), the total numbers of unemployed are more than that, the national unemployment rate is 8.2% but only 5% nationally are claiming JSA.

But yeah, you probably can find some counties where the unemployment rate overall is 5% or less.

If you are looking at the UK regions which are of a more comparable size to Australian states then the current unemployment rates are:

Regional unemployment rates in the UK

Northeast England 11.5%
London 9.8%
Northwest England 9.6%
Yorkshire & Humber 9.4%
Wales 9.1%
West Midlands 8.5%
Scotland 8.3%
East Midlands 8.2%
Northern Ireland 7.2%
East of England 6.9%
Southeast England 6.6%
Southwest England 6.3%

While the regional employment rates ie the proportion of those aged 16-64 actually in employment are:

East of England 74.9%
Southeast England 74.8%
Southwest England 73.2%
East Midlands 71.9%
Scotland 71.1%
Yorkshire & Humber 68.9%
West Midlands 68.7%
Northwest England 68.6%
Wales 68.0%
London 67.7%
Northern Ireland 67.1%
Northeast England 66.5%
 

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As I believe you say in Australia 'strewth'! Those are insane prices...
The people who usually say strewth, are I believe as you say in Britain, chavs. ;)

But yes, Perth is very expensive, but then wages are also dramatically higher.
From the ABS, the average wage in each state, from Q3 2011, is as follows:

Tasmania $60,518
South Australia $63.305
Victoria $65,608
Queensland $66,882
New South Wales $69,514
Northern Territory $72,602
Capital Territory $79,513
Western Australia $79,934
 

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To be fair the pie and chips aren't from a pub they're from a "fine dining" resturant. The rest though are true unfortunately.
 
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