What is Scott going to do

[martinw-48]

https://www.abc.net.au/news/2019-06-26/scott-morrison-us-trump-xi-china-trade-war-damage/11246486?pf...

Maybe he could try wearing different baseball caps until the problem is solved.
It won him the election.
Surely it can fix any problem

[debra9275]

Australians aren't spending chameleon, because they can't. You can see how quiet it is in every shopping centre

[chameleon54]

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@debra9275 wrote:

Australians aren't spending chameleon, because they can't. You can see how quiet it is in every shopping centre

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It is true that Australians are not spending. Some of this is because of government policies such as a pre-occupation with green energy pushing up power prices to ridiculous levels ( and yes I believe in man made global warming ), but some of it is global factors. In particular the slowing of the Chinese economy, feeding into lower prices for exports. While there are all sorts of swings and roundabouts including the service economy, ultimately the ONLY thing which will allow increased wages and consumer spending is increased export income. 

China is the global behemoth economy and if it slows further due to US / China brawling, the rest of the worlds economies suffer, wages will stagnate further, consumers will reduce spending and the global economy will sink into recession. Hence the reason I believe Scott Morrisons comments where valid.

[debra9275]

I think the high power prices are more to do with the privatisation of all our power companies than the greens..  but  yes, the cost of living has become pretty high..  lots of young families are also struggling with high mortgages these days

[chameleon54]

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@debra9275 wrote:

I think the high power prices are more to do with the privatisation of all our power companies than the greens..  but  yes, the cost of living has become pretty high..  lots of young families are also struggling with high mortgages these days

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The privatisation of any public utility usually results in higher prices for consumers, but I dont think that is the reason for recent dramatic rises in electricity prices.. I,m not sure what state you are in, but in S.A, the power companies where privatised in the early 1980,s ( from memory ). Power prices remained reasonably stable and affordable for several decades after that. It wasnt until the last S.A. Labor government went completely bonkers on trying to be a world leader in renewables that we saw the dramatic increases in energy costs.

Unfortunately the politics has won over common sense in regards to power prices. Rather than entirely relying on chasing renewable energy, Australia could dramatically reduce emmissions and still have secure base load power by converting existing coal fired power stations to natural gas. ( which burns a lot cleaner than coal ) Unfortunately this wouldnt cut it in Latte Land, plus we have contracted most of our LNG supplies to China for a few cents per litre. ( more politics over common sense. )

Result, we have plenty of natural gas reserves, but China gets them, while Australian consumers and businesses pay ridiculous power prices. 

[chameleon54]

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@debra9275 wrote:

I think the high power prices are more to do with the privatisation of all our power companies than the greens..  but  yes, the cost of living has become pretty high..  lots of young families are also struggling with high mortgages these days

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Again I agree with you. The mortgage thing is crazy. But again this is due to politics. The left side of politics ( particularly the Greens ) have basically run an open door immigration policy. The dramatic increase in immigration has placed enormous pressure on the housing market and local infrastructure, particularly in Melbourne and Sydney where the large bulk of immigrants settle, pushing prices to unaffordable levels.

While some on the political Right would like to see immigration wound back, the Pontzi scheme of increased immigration providing ongoing work for the building industry dictates that immigration can not be easily slowed without also slowing an already fragile economy. To some extent the Liberals hands are tied by structural immigration issues innitiated by previous Labor governments.

[go-tazz]

In simple terms the cost of housing has pushed prices to high and due to mortgages or high rent that

"disposable" income from previous years is no longer there (no one has spending money anymore as it's going

to mortgages or high rents).

Negative gearing and overseas buyers have pushed house prices up to a point where it's no longer an

Australian dream to own a house but a financial burden/struggle instead.

You need more savings to get any decent amount of interest so more is getting put away by those that have

the available funds (no money getting spent means the economy struggles).

[myoclon1cjerk]

https://www.energymatters.com.au/renewable-news/debate-cost-renewables-versus-coal/

[myoclon1cjerk]

. "The left side of politics ( particularly the Greens ) have basically run an open door immigration policy"(quote)

That's the funniest comment I've read in a while. Apart from the 6 years when Labor was in power,the LNP has been in office since 1996.

[chameleon54]

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@myoclon1cjerk wrote:
. "The left side of politics ( particularly the Greens ) have basically run an open door immigration policy"(quote)

That's the funniest comment I've read in a while. Apart from the 6 years when Labor was in power,the LNP has been in office since 1996.

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And if you compare the immigration statistics to those six years ( 2007 - 2013 ) you will see that is when a dramatic increase in immigration occured. It has tapered off since the Liberals came back into office, but the damage has been done.

If you compare the immigration statistics ( peaking under Labor ) with house prices in our major capital cities, you will see that Labors high immigration policies directly caused an increased demand for housing ( funny about that ) and house prices to rapidly escalate to silly levels. Since immigration has tapered under the Liberals, you have seen a corresponding tapering off ( fall ) in house prices in our major cities. You can blame investors, but that ignores the fact that there has to be increasing numbers of tenants ( migrants ) to fill all of those rental houses. If there wasnt there would not be rental demand pressures and rental prices and house prices would fall.

If you look at the wages statistics you can also see a correlation between the high immigration policies of Labor and stagnation in wages and increase in under employment. The only way wages can rise is if we have more money in our economy. The only way this can occur is if we export more ( mining and agriculture -, finite natural resources )  or we have extra money printed. ( inflationary )  We have more people to share our finite resources with, resulting in less money for each individual.

It doesnt take a rocket scientist to see that Labors high immigration policies have damaged living standards for ordinary workers in our major capital cities.

@ myoclon1cjerk - I,m glad you are amused by all of this. At least it may stop you whinging about how tough things are for you in an economy trashed by the Labors high immigration policies.

[martinw-48]

You have to laugh because all these morons in charge are just running off with the money and not doing their jobs.
Maybe the best thing that could happen is a deep recession.
It might wake the morons up.