Renters are worse off than Rent Seekers due to Mining Boom

[fourandsixpants]

http://m.theage.com.au/business/the-mining-boom-how-the-nation-spent-the-windfall-20140824-107umc.ht...

.....we didn't just spend the boom windfall on cars and household gadgets.

It drove a 20 per cent lift in food purchases and an 8 per cent boost in purchases of communications services, such as internet and telephone use......

Renters have not fared so well out of the boom because it led to a substantial reduction in vacancy rates and a sharp rise in rents.

[fourandsixpants · Accepted solution]

Yes....needs repeating:

drove a 20 per cent lift in food purchases and an 8 per cent boost in purchases of communications services, such as internet and telephone use......

Renters have not fared so well out of the boom because it led to a substantial reduction in vacancy rates and a sharp rise in rents.

[icyfroth]

so what's the solution?

[fourandsixpants]

1. sack the present rulers

2. sack the RBA

3. get some competent adults in to do the jobs of 1 & 2

[boris1gary · Accepted solution]

Paints, did you expect anything different - the rent seekers are running the show

http://www.theage.com.au/business/mining-boom-makes-little-sense-20140823-107o1q.html

In the aftermath of the boom, many acquisitions are written off, the chief executives who presided over these excesses get the chop and are replaced by bosses whose main skill is cost-cutting. They make speeches about how excessive Australian wages are.

Anyone who has followed the fortunes of our big three - BHP Billiton, Rio Tinto and Glencore Xstrata - will know just what I'm talking about.

Read more: http://www.smh.com.au/business/mining-boom-makes-little-sense-20140823-107o1q.html#ixzz3BM0xO4bA

Meanwhile in the background smirking are the likes of Gina Rinehart, earning $276 million per week in unearned income. She still has not delivered one tonne of iron ore to the market. She is a glorified landlord, carving off her mineral rights for multibillion-dollar sums. Rhinehart did not provide any productive prowess to create the minerals, nor their naturally rising price. That is a legal privilege to unearned income. No small business person has that opportunity.

[boris1gary]

“We can’t keep squandering the opportunity to deliver real benefits to Australians from the finite mineral resources that belong to all of us.

“We need a federal government willing to stand up to self-interested mining companies and manage this resources boom in a fair and sustainable way. The Minerals Resources Rent tax could have been better constructed, but it is a first step towards addressing this challenge. We shouldn't dump the MRRT, we should build on it for the long term.”

http://cfmeu.com.au/The%20Australian%20Resources%20Boom%3A%20Sharing%20the%20Benefits

[nero_bolt]

@icyfroth wrote:

so what's the solution?

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@paintsew007 wrote:

1. sack the present rulers

2. sack the RBA

3. get some competent adults in to do the jobs of 1 & 2

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 The solution some on here want is  is this Icy......  

[icyfroth]

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@paintsew007 wrote:

1. sack the present rulers

2. sack the RBA

3. get some competent adults in to do the jobs of 1 & 2

---

Do you have someone in mind? Because if you're going to nominate a new Labor government, I've got news for you. It'll be business as usual

[fourandsixpants]

to nero

I am not proposing socialism at all. Exaggerated, unrealistic, scaremongering and extreme IMO.

[fourandsixpants]

to icy

I have given you my suggestions on what to do and steps to take to fix.

What would your suggestions be on how to fix? We hear your opinions and comments all the time Icy. Be nice if you could give a meaningful contribution without a snipe please. Just once would be interesting. Thank you