Re: Dark Side Of Australia's Economic Boom

[BritishManwhore]

The miners are crazy. These poorly educated guys suddenly with $100k a year to spend, and it all goes down the toilet.



The boom is the main reason I'm in Oz. I earn twice as much as I would in the UK. Best to make the most of it...

[Anonymous]

The miners are crazy. These poorly educated guys suddenly with $100k a year to spend, and it all goes down the toilet.



The boom is the main reason I'm in Oz. I earn twice as much as I would in the UK. Best to make the most of it...

What do you do?

[BritishManwhore]

Just office stuff, I supervise a team of accounts clerks

[Anonymous]

Just office stuff, I supervise a team of accounts clerks

I thought you worked directly with some of those poorly educated guys pissing their $100k salaries down the toilet.

[Leopardsocks]

Er, ladies and gentlemen, this was an op piece published in "The Punch", a rather lefty web-mag. It should not be taken seriously.



Australia is doing fine. Thanks for asking.



Oh, the irony..."The Punch" is owned by Rupert Murdoch...you may know him as the owner of the "News" consortium, which includes FOX News!!!

[BritishManwhore]

Just office stuff, I supervise a team of accounts clerks

I thought you worked directly with some of those poorly educated guys pissing their $100k salaries down the toilet.

Ahh no. But I've spent some time in the mining areas. It's weird, crummy cities and towns building up, with ridiculous prices to gouge the miners. Gonna be painful when it all crashes down...

[Anonymous]

Just office stuff, I supervise a team of accounts clerks

I thought you worked directly with some of those poorly educated guys pissing their $100k salaries down the toilet.

Ahh no. But I've spent some time in the mining areas. It's weird, crummy cities and towns building up, with ridiculous prices to gouge the miners. Gonna be painful when it all crashes down...

Why does it have to crash? Is there going to be a big drop in demand for Australia's resources in the future?

[BritishManwhore]

It's all based on the mining sector (and other industries) growing. There is a lag effect in investment, so the boom today was made a few years ago. Investment now is a lot lower as costs and taxes are rising, and mineral prices are down (I think). Once the sector stops booming, that takes out most of Australia's economic growth, so other industries will start cutting back to "be safe". There will always be demand for what is being mined, but the current situation is built on the assumption that the growth in mining won't slow down.

[Zetsu]

Just office stuff, I supervise a team of accounts clerks

I thought you worked directly with some of those poorly educated guys pissing their $100k salaries down the toilet.

Reading from BMW's post I'd say he's much smarter than the average guy, but for Gary I guess that's another story...

[Zetsu]

I thought you worked directly with some of those poorly educated guys pissing their $100k salaries down the toilet.

Reading from BMW's post I'd say he's much smarter than the average guy, but for Gary I guess that's another story...

How's it going Buddy? Giving Grandpa Joe an economics lesson?

Lol Joe has been skipping classes again.