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Realistbear

Australian Economy Suffers Worst G D P Decline In 20 Years

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http://www.telegraph.co.uk/finance/economics/8549256/Australian-economy-suffers-worst-GDP-decline-in-20-years.html

Australian economy suffers worst GDP decline in 20 years
Australia's economy suffered its biggest quarterly contraction in 20 years during the first three months of 2011, as extensive flooding and Cyclone Yasi halted the country's once-in-a-lifetime mining boom.

If OZ has been relying on "once in a lifetime" bubbles their future is far from secure. Pity those who bought into their housng bubble in recent years.

India is seeing a decline also and they have not had much in the way of unusual weather.*

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* http://www.telegraph.co.uk/finance/economics/8546958/Indias-economy-grows-at-slowest-pace-in-over-a-year.html

Edited by Realistbear

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When America gets the flu the rest of the world gets pneumonia. America would like it to be just a cold.

If OZ are reelig from "weather" problems and India is in the same boat how much longer can China be the tat powerhouse of the world?

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Oz will boom until China stops buying their stuff, at that point the banks will spring the same trap for the Oz government they sprang over here.

This is just a blip, no point in analysing it too closely.

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blame it on it being the most humorless place on earth. now the bubbles popped you can see it for what it really is. bland prisoner cell block h (circa late 80s) type, way out there, being eaten from within by rich chinese, while the regular aussies drink and smack themselves up on the edges of big cities.

that was my view from the 24th of april this year.

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Probably due to the flooding and cyclones. Just watch the rebound as all the "broken windows" are fixed.

Or it could be down to a huge cut in government borrowing.....some hope

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What did they expect - electing a Labour government.

:blink:

As I understand Labour made the electorate a better offer.

Being voters they believe they just believed them. Same old story every man and his dog will tell you how politicians are liars and then vote for the ones that promise something they had no hope of ever delivering.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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