An open thread, where at your weekend leisure, you can discuss anything you like.
Life, Culture and Politics from BrisVegas
Larvatus Prodeo was an Australian group blog which discussed politics, sociology, culture, life, religion and science from a left of centre perspective. more»
Facebook sucks. I’ve been trying to RSVP for the Brissie LP XMAS meet[*]. I keep getting blank pages. Anyone else have problems?
The Institute Of Public Affairs suck – I know a bunch of gay guys who think Tim Wilson from the IPA is a good guy causes he’s gay, they even voted for him in the Melb City Council elections. The IPA are dangerous. Being gay doesn’t preclude you from being a climate change apologist, denouncing Oxfam and fair trade, writing the Work Choices legislation or the myriad of other dangerous “policies” the IPA try and get up.
Working from 8-5 today is not fun. The only saving grace is the staff Christmas party which starts at 7.
After approximately 5 years of blogging when I finally give up the ghost, the economists finally decide to talk on my pet subject Enterprise Zones. Unfortunately my domain has also expired so I can’t link to all the fantastic posts. I could attempt to read the paper that is linked and refute it but what would be the point. I’m nobody. And it probably doesn’t relate to the Australian POV. I don’t have 30 or 40 years to waste on lobbying to get things off the ground in Australia like the Greens have finally done with the environment. Like most people who have or had concerns I have grown tired of banging my head against an impenetrable brick wall. I’ll just point out EZs have worked extremely well in Ireland & other places.
I interview Shane Warne Musical cast member for The Worst of Perth.
http://theworstofperth.com/2008/12/12/shane-warne-musical-the-worst-of-perth-interview/
Farewell Bettie. Your beauty will be eternal.
Great piece from Michael Stutchbury in The Oz today: Our China crisis
This is the inevitable consequence of allowing our productive capacity to be decimated while we fooled ourselves that the resources boom would last forever.
There is nothing to fall back on. Nothing.
Nothing to fall back on – !? Rubbish! Don’t mourn the quarrie mentality of a by-gone era. After all Anna Bligh learnt her lessons well from Peter Beattie and Sir Joh.
And we’ve added all these cafes and pretty little shops selling all those useless things none of us need! Once you’re a paid up member of the Chardonnay Set, a card carrying member of the Coffee Society and a Residential Burgher licenced (?required?) to fill your castle’s wheelie bin every week, you’ve got plenty to fall back on. And if things start to get grim – Pauline Hanson will flash dance back out of her cubby hole. Mate, there’s lots to look forward to.
What are you whinging about? Surely you’ve twigged by now that Australia’s economic policy is a literary one, combining The Magic Pudding with The Glugs of Gosh?
Did anyone catch the last incredible duo on Rockwiz tonight with Amanda Brown and Glen Richards?
It was a version of a song written by Lee Hazlewood of “Some Velvet Morning”. Wikipedia says of it…. “As with many psychedelic songs, its overall meaning is somewhat obscure”. Te he.
This is the original with Nancy Sinatra but not as good as the locals.
http://au.youtube.com/watch?v=Sb-SVPJM4L4&feature=related
Yep, saw it, was tops!
thank you stay with us!.
fghvhhcff
This dire prediction was made after:
1. The Gold Rushes of the 1850s.
2. The wool-driven boom of the 1880s.
3. The debt binge of the 1920s.
4. The minerals boom of the 1970s.
Yet somehow we survived to lose it all forever (again) in the post meltdown world of the 2000s.
I guess it could be seen as a matter of some regret that Australia doesn’t produce its own cameras, televisions, t-shirts, cross-trainers, etc., etc.
And if the world economy sours enough, as it did during the 1930s, perhaps Australian entrepreneurs may decide to attempt to manufacture some of these items in Australia using Australian labour. The world economy would have to suffer a tremendous collapse for that to happen.
For the record, I don’t think that will happen. Somehow, the Australian economy will resume its customary position as a provider of raw materials for the renaissant world market. And as usual, the Australian political economy will be organised to ensure that the proceeds of that form of engagement with the world economy will be spread quite widely among Australian residents.
Boring, but oddly comforting.
Katz @ 13:
Obviously the global economy will recover at some point, and which time Australia will resume its role as provider of dirt to Asia, but in the meantime we don’t have much in this country apart from banking and construction, and both of those sectors look pretty sick ATM.
Our dirt-based economy is acutely exposed to the global business cycle. When commodity prices are high, and the cash is rolling in, we conveniently forget about all other sectors of the economy. The AUD follows commodity prices upwards which crushes non-resource exporters and import-competing businesses. When the commodity cycle turns (as it always does) the non-resource sectors of the economy are so run down and so weak its very difficult for them to bounce back, even with the help of low interest rates and a lower currency.
The problem is particularly bad this time around. The resources boom has been running hot for 6-7 years, which means the non-resource sectors are weaker this time than most business cycles, and the global downturn is particularly vicious, and likely to be much longer than previous recessions.
Its very Australia will have to survive an extended period of low global growth and low commodity prices, with a severely weakened manufacturing and non-resource export sectors.
Actually, non-resource sectors, including manufacturing, have enjoyed modest growth since 2006. The latter part of this period was during a time of significant appreciation of the $A.
I have never doubted that the coming recession/depression will be particularly nasty. It will be interesting to see just how much it will dislocate world trade. The temptation for the US especially to pursue policies of economic nationalism will be very strong.
The Australian economy is particularly vulnerable to the vicissitudes of world trade. So if the US does follow protectionist policies, Australian economic activity will be hard-hit.