topic Re: Open for Business or over a cliff? in Community Spirit

Open for Business or over a cliff?

boris1gary — Tue, 04 Mar 2014 22:13:42 GMT

What a fine job the "adults in charge" are doing.

http://www.independentaustralia.net/politics/politics-display/open-for-business-or-over-a-cliff,6240

The Abbott Government has been in power for less than six months, but rather than creating employment and business confidence, the nation appears to be in economic decline. Peter Wicks from Wixxyleaks reports.

IT SEEMS LIKE AN ETERNITY AGO, but it was only a few months back, on 7 September 2013, that Tony Abbott declared Australia was now “Open for Business” after the previous Government defeated in the Federal election.

Finally Australia was going to be put on track, because the Liberal Party understood business, and furthermore there was the promise of the creation of one million jobs and two million within a decade from the incoming Prime Minister.

So, how are we tracking on the jobs front and how is being now open for business going now that the Coalition have been in power for roughly 20% of what is likely to be their single term if the polls are to be believed?

Let’s have a look at business investment now that the sign on our door reads “open”. I’ll use figures from the Bureau Of Statistics, as reported by Fairfax, as the Bureau are an unbiased and reliable source.

As it turns out, immediately after the Coalition victory, in the final three months of 2013, business investment in Australia dropped 5.2% — the highest drop in level since the Global Financial Crisis.

The Bureau Of Statistics also reports that the estimates for the 2013-2014 financial year have been downgraded from a year ago to the tune of 17%. With a 17% plummet in business investment within a year, it is so good we not have “the adults in charge”.

Re: Open for Business or over a cliff?

catsnknots — Tue, 04 Mar 2014 22:25:57 GMT

SURGING exports and a big lift in new building approvals are fuelling hopes that economic growth this year will be stronger than forecast, defying Treasury’s predictions of an ongoing slowdown.

"Both private-sector housing and non-residential building approvals have risen by more than 20 per cent, surpassing levels from before the global financial crisis for the first time, while record shipments of coal and iron have returned the trade account to a surplus.

Reserve Bank governor Glenn Stevens pointed to improving business confidence and trading conditions along with an encouraging global outlook yesterday, following the bank board’s decision to keep the official cash rate at its record low of 2.5 per cent for an eighth consecutive month."

Commonwealth Bank chief economist Michael Blythe said yesterday: “The leading indicators are starting to look positive. We’ve seen the big lift in housing loan approvals and that has flowed through to local government building approvals. The next step should be actual construction activity.

“What is encouraging is that it is not just a residential story, but there is a big lift in the non-residential sector as well. These are the two key parts of the economy you need to get moving to offset the inevitable downturn in mining capital spending.”

http://www.theaustralian.com.au/business/economic-signs-point-to-upturn/story-e6frg8zx-1226845327398

Not only are things looking better the slight rise in the unemployment rate is said to be ok as it lags behind the trend... and the trend is upward.

Re: Open for Business or over a cliff?

boris1gary — Tue, 04 Mar 2014 22:32:43 GMT

@catsnknots wrote:
SURGING exports and a big lift in new building approvals are fuelling hopes that economic growth this year will be stronger than forecast, defying Treasury’s predictions of an ongoing slowdown.

"Both private-sector housing and non-residential building approvals have risen by more than 20 per cent, surpassing levels from before the global financial crisis for the first time, while record shipments of coal and iron have returned the trade account to a surplus.
Reserve Bank governor Glenn Stevens pointed to improving business confidence and trading conditions along with an encouraging global outlook yesterday, following the bank board’s decision to keep the official cash rate at its record low of 2.5 per cent for an eighth consecutive month."

Commonwealth Bank chief economist Michael Blythe said yesterday: “The leading indicators are starting to look positive. We’ve seen the big lift in housing loan approvals and that has flowed through to local government building approvals. The next step should be actual construction activity.
“What is encouraging is that it is not just a residential story, but there is a big lift in the non-residential sector as well. These are the two key parts of the economy you need to get moving to offset the inevitable downturn in mining capital spending.”

http://www.theaustralian.com.au/business/economic-signs-point-to-upturn/story-e6frg8zx-1226845327398

Not only are things looking better the slight rise in the unemployment rate is said to be ok as it lags behind the trend... and the trend is upward.

mmm, commonwealth bank chief economist or the Australian Bureau of Statistics - now who should be believed?

Re: Open for Business or over a cliff?

nero_bolt — Tue, 04 Mar 2014 22:36:27 GMT

I would believe this more.... This story has credibility

Economic signs point to upturn

http://www.theaustralian.com.au/business/economic-signs-point-to-upturn/story-e6frg8zx-1226845327398#

SURGING exports and a big lift in new building approvals are fuelling hopes that economic growth this year will be stronger than forecast, defying Treasury’s predictions of an ongoing slowdown.

Both private-sector housing and non-residential building approvals have risen by more than 20 per cent, surpassing levels from before the global financial crisis for the first time, while record shipments of coal and iron have returned the trade account to a surplus.

Mr Stevens flagged that rates were likely to remain at this level for some months yet, commenting that “the most prudent course is likely to be a period of stability in interest rates”.

The Australian Bureau of Statistics today will release national accounts showing whether there was any lift in growth in the December quarter. Most economists expect they will still show activity levels were subdued.

However, a run of recent indicators, including yesterday’s building approvals and trade figures, show the economy is at a turning point, with better conditions ahead.

“What is encouraging is that it is not just a residential story, but there is a big lift in the non-residential sector as well. These are the two key parts of the economy you need to get moving to offset the inevitable downturn in mining capital spending.”

The signs of the economy gaining strength, which first started appearing in business surveys three months ago and have also been evident in improved retail sales, contrast with the problems confronted by a series of trade-exposed businesses that have been seeking government assistance.

Mr Stevens confirmed that the Reserve Bank still expected to see a further increase in the unemployment rate from its current level of 6 per cent. However the bank believes the jobs figures lag trends in the economy.

More forward-looking indicators have been encouraging, with the ANZ’s latest survey of job advertisements showing the first increase in more than a year.

Mr Blythe said the government’s budget figures for December, which were released on Friday, showed that its PAYG tax receipts were rising much more quickly than suggested by the published jobs figures.

Tax paid by individuals averaged 6 per cent growth in the December quarter, although official figures showed employment was at a standstill and wages were rising at only 2.5 per cent.

“You don’t pay tax unless you’re earning income,” Mr Blythe said. “It may be another indicator that we’re at a turning point.”

Today’s national accounts are expected to show the economy was still growing at a below-trend rate of about 2.6 per cent in the December quarter, although economists caution that the quarterly figures are difficult to predict with accuracy, as the ABS often makes large revisions to previous reports.

Treasury’s mid-year budget update anticipated growth would average 2.5 per cent both in this financial year and in 2014-15.

The biggest contributor to growth is likely to be exports. The volume of goods exported rose by 6.9 per cent over the past year, while import volumes were 4.1 per cent lower. As resource companies complete their expansion projects, imports of capital equipment are falling sharply, while new mines coming into production are lifting exports.

The growth in exports was led by iron ore and coal, however even manufacturing achieved some growth, helped by the lower value of the Australian dollar. Shipments of manufactured goods reached $7.5 billion, up 3.5 per cent from a year earlier.

The trade account recorded a small surplus of $250 million in the December quarter, the first since 2011, but economists expect this will build over the next two years, with the commissioning of LNG plants bringing Australia’s overall balance of payments close to surplus for the first time.

Although the lift in exports will boost growth, this phase of the resource boom is less labour intensive than project construction and will add to pressure on employment. The Reserve Bank and Treasury are likely to be cheered by the lift in both housing and non-residential building approvals.

A record $12.6bn in new housing projects was approved in the December quarter, which was 24.4 per cent higher than a year ago. (under Labor) Apartment developments are 48.5 per cent higher, individual housing approvals are 8.7 per cent ahead.

Re: Open for Business or over a cliff?

catsnknots — Tue, 04 Mar 2014 22:37:46 GMT

Nero we can't believe that paper.... you know it is not a communist back print media.

Re: Open for Business or over a cliff?

lakeland27 — Tue, 04 Mar 2014 22:39:09 GMT

stop spamming on such a mammoth scale . yelling makes you look desperate.

Re: Open for Business or over a cliff?

silverfaun — Tue, 04 Mar 2014 22:45:53 GMT

THe head winds Hockey was warning about since the "Age of Entitlement" speech was ignored by Swannie and all Labor and now we are blessed with a more adult government trying to rein in waste and subsidies.

Go figure why that's not good news...

Re: Open for Business or over a cliff?

silverfaun — Tue, 04 Mar 2014 22:41:00 GMT

Oh No !!!!! not more good news?? I'm happy the economy is looking brighter but then that's just me

Re: Open for Business or over a cliff?

nero_bolt — Tue, 04 Mar 2014 22:42:19 GMT

@boris1gary wrote:
What a fine job the "adults in charge" are doing.

http://www.independentaustralia.net/politics/politics-display/open-for-business-or-over-a-cliff,6240

. Peter Wicks from Wixxyleaks reports.

This one is a charmer but then not unexpected from a labor hack that Peter Wicks is

Craig Thomson conspires with ALP member Peter Wicks to harass, intimidate and stalk key witness Kathy Jackson and her children

http://kangaroocourtofaustralia.com/2012/07/08/craig-thomson-conspires-with-alp-member-peter-wicks-to-harass-intimidate-and-stalk-key-witness-kathy-jackson-and-her-children/

Craig Thomson puppet Peter Wicks goes to the police seeking AVO against KCA publisher.

http://kangaroocourtofaustralia.com/2012/07/15/craig-thomson-puppet-peter-wicks-goes-to-the-police-seeking-avo-against-kca-publisher/

and so much more out there about this charmer and labor hack.....

Re: Open for Business or over a cliff?

silverfaun — Tue, 04 Mar 2014 22:44:01 GMT

Gosh? I wouldn't call one post "spamming" ?? Did anybody call the initial post "spamming"???

Re: Open for Business or over a cliff?

nero_bolt — Tue, 04 Mar 2014 22:47:44 GMT

@catsnknots wrote:
Nero we can't believe that paper.... you know it is not a communist back print media.

Yes cat you are so correct and you cant believe the banks or the ABS and all indercators that we are on the up....

Re: Open for Business or over a cliff?

catsnknots — Tue, 04 Mar 2014 22:48:37 GMT

@silverfaun wrote:
Gosh? I wouldn't call one post "spamming" ?? Did anybody call the initial post "spamming"???

no... we both accidently posted the same article...

that is the spam I think

Re: Open for Business or over a cliff?

lakeland27 — Tue, 04 Mar 2014 22:58:57 GMT

the page filling pictures on the other thread is the spam. its far too big. if someone puts up something of that size they generally apologise for not re-sizing. getting desperate now? its all coming apart in front of you.

Re: Open for Business or over a cliff?

boris1gary — Tue, 04 Mar 2014 23:12:59 GMT

@lakeland27 wrote:
the page filling pictures on the other thread is the spam. its far too big. if someone puts up something of that size they generally apologise for not re-sizing. getting desperate now? its all coming apart in front of you.

may as well post some more of the op article, I suppose the ANZ is a Communist Bank, I do have an account there.

It will probably come as no surprise that forecasts show manufacturing investment is down 20%.

ANZ reported to its clients that business investment may drop up to 11% and described the financial implications of the new direction the country has taken since the "grown-ups" took over as:

“Over the cliff we go."

What is eye-opening though is that mining industry investment is also forecast to be down a colossal 25%.

This is the industry that really pushed hard for Abbott and the Coalition to be put into government; with a 25% drop in business investment, they must be feeling like they backed the donkey in the Melbourne Cup.

So how about employment, how is that tracking?

Well despite a huge spike in the number of spin doctors employed by a Minister For Immigration Scott “No Comment” Morrison we have yet to see the million jobs that the Coalition promised to deliver.

Instead, the numbers of jobs seems to be falling off the same cliff ANZ’s investors jumped off.

Perhaps the one job that should definitely be lost is that of Employment Minister Eric Abetz. Rarely have we seen a Minister fail in their role so dramatically in such a short period of time.

Unemployment has risen approximately 20% since the Coalition came into power, with the unemployment rate in February hitting 6% the first time in over a decade. It should be noted that the unemployment rate never hit this rate through the entire time the previous Labor Government was in power — not even during the Global Financial Crisis, which decimated western economies right around the world.

In fact, the last time unemployment was this high in Australia was under the Coalition back in July 2003, when we had another lacklustre employment minister — the current Prime Minister Tony Abbott.

Re: Open for Business or over a cliff?

boris1gary — Tue, 04 Mar 2014 23:16:37 GMT

lake, this song is a perfect fit for our current "adults in charge" government.

http://www.youtube.com/watch?v=WRNYqsMIbg0

Re: Open for Business or over a cliff?

nero_bolt — Tue, 04 Mar 2014 23:20:26 GMT

@boris1gary wrote:

Well despite a huge spike in the number of spin doctors employed by a Minister For Immigration Scott “No Comment” Morrison we have yet to see the million jobs that the Coalition promised to deliver.

Gawd you lot havent a clue about the truth or research. These are left overs from Labor and down on what he took on... Last August, immigration employed 72 media staff, under labor

Now not all of these people work or do media for Scott Morrission they do general departmental media work.

Now fact In 2011, the Immigration Department reportedly employed just 13 spin doctors. and under your GODDESS Julia and the Labor party that went to 72.

Now 66 and falling but hey never let the truth and facts get in the way of a labor leftie made up story and slur....

Re: Open for Business or over a cliff?

boris1gary — Tue, 04 Mar 2014 23:37:34 GMT

@nero_wulf wrote:
@boris1gary wrote:

Well despite a huge spike in the number of spin doctors employed by a Minister For Immigration Scott “No Comment” Morrison we have yet to see the million jobs that the Coalition promised to deliver.

Gawd you lot havent a clue about the truth or research. These are left overs from Labor and down on what he took on... Last August, immigration employed 72 media staff, under labor

Now not all of these people work or do media for Scott Morrission they do general departmental media work.

Now fact In 2011, the Immigration Department reportedly employed just 13 spin doctors. and under your GODDESS Julia and the Labor party that went to 72.

Now 66 and falling but hey never let the truth and facts get in the way of a labor leftie made up story and slur....

Clearly the above is full of "facts" - "Fact" - Julia is a Goddess - could you post a link to this "fact" or any other "facts" in your so "factual" post.

Re: Open for Business or over a cliff?

nero_bolt — Tue, 04 Mar 2014 23:42:21 GMT

@boris1gary wrote:
@nero_wulf wrote:
@boris1gary wrote:

Well despite a huge spike in the number of spin doctors employed by a Minister For Immigration Scott “No Comment” Morrison we have yet to see the million jobs that the Coalition promised to deliver.

Gawd you lot havent a clue about the truth or research. These are left overs from Labor and down on what he took on... Last August, immigration employed 72 media staff, under labor

Now not all of these people work or do media for Scott Morrission they do general departmental media work.

Now fact In 2011, the Immigration Department reportedly employed just 13 spin doctors. and under your GODDESS Julia and the Labor party that went to 72.

Now 66 and falling but hey never let the truth and facts get in the way of a labor leftie made up story and slur....

Clearly the above is full of "facts" - "Fact" - Julia is a Goddess - could you post a link to this "fact" or any other "facts" in your so "factual" post.

Reasearch isnt a stong point of yours is it....... considering that the facts are in your story and the link you posted and that link is in my post above from your story..... .... All there. But then you have to read to get the facts.... :).. My facts came from your link and story that I actually read....

Re: Open for Business or over a cliff?

boris1gary — Tue, 04 Mar 2014 23:52:31 GMT

nw, link for your fact - Julia is a Goddess - thanking you in advance.

Re: Open for Business or over a cliff?

boris1gary — Tue, 04 Mar 2014 23:58:30 GMT

@nero_wulf wrote:
@boris1gary wrote:
@nero_wulf wrote:
@boris1gary wrote:

Well despite a huge spike in the number of spin doctors employed by a Minister For Immigration Scott “No Comment” Morrison we have yet to see the million jobs that the Coalition promised to deliver.

Gawd you lot havent a clue about the truth or research. These are left overs from Labor and down on what he took on... Last August, immigration employed 72 media staff, under labor

Now not all of these people work or do media for Scott Morrission they do general departmental media work.

Now fact In 2011, the Immigration Department reportedly employed just 13 spin doctors. and under your GODDESS Julia and the Labor party that went to 72.

Now 66 and falling but hey never let the truth and facts get in the way of a labor leftie made up story and slur....

Clearly the above is full of "facts" - "Fact" - Julia is a Goddess - could you post a link to this "fact" or any other "facts" in your so "factual" post.
Reasearch isnt a stong point of yours is it....... considering that the facts are in your story and the link you posted and that link is in my post above from your story..... .... All there. But then you have to read to get the facts.... :).. My facts came from your link and story that I actually read....

facts before fiction nw, - suggest you do the same

http://www.theage.com.au/federal-politics/political-news/immigration-spin-team-how-many-does-it-take-to-say-no-comment-20140301-33szo.html