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Can Australia be Greece?

Discussion in 'Property Market Economics' started by Be Developer, 20th Jul, 2015.

  1. Be Developer

    Be Developer Property Developer Business Member

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  2. Biz

    Biz Well-Known Member

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    I reckon the whole world is going to be the next Greece.
     
  3. OC1

    OC1 Well-Known Member

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    We would still need to master the art of "lifestyle". :D :p
     
  4. JDP1

    JDP1 Well-Known Member

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  5. radson

    radson Well-Known Member

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    Exactly a free floating exchange rate means 'we' are far more flexible in the face of economic headwinds.
     
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  6. jaybean

    jaybean Well-Known Member

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    I've never appreciated the pros and cons of the Euro, learn something new every day.
     
  7. JDP1

    JDP1 Well-Known Member

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    That's right. The market ultimately determines what you are worth.
     
  8. CJP

    CJP Active Member

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    I think no. Australian economy is better than many other countries, low dollar makes investment viable, the Chinese love australia and therefore are injecting money and resources in, australia highly dependent on resource export, so once demand picks up again in (cycle), economy boost again. Iron ore, coal, oil will all go up again.
    But long term the government here needs to sort a few things out.

    Cheers
     
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  9. Fargo

    Fargo Well-Known Member

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    It could if labour managed to stay in office for 3 terms.
     
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  10. Foxy Moron

    Foxy Moron Well-Known Member

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    My take on this is that the longer we persist with compulsory voting the quicker we will emulate Greece. So yes I believe we are definately heading down this road inch by inch. Just the natives cant see it.
    Not wishing to pick on one political party over another.....but I honestly believe hard decisions will rarely even be discussed by our pollies until compulsory voting is abandoned. If I could change one thing in politics this would be it.
     
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  11. Bayview

    Bayview Well-Known Member

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    We definitely could.

    As a business owner (only a small business) I get to see first hand how the worker versus employer life is conducted. Multiply the grief when you start adding in large Corps with stronger Union resistance and silly-buggers.

    FairWork is a disaster for Employers and is crippling job growth...many full-0time jobs are disappearing and being replaced with low-hours part-time and casual work to protect the Employer.

    Add to this our worker mentality of more for less, more paid time off, more pub hols, super guarantees, lower taxes, but better amenities and infrastructure and so on and so forth...

    All during the meanwhile that our industries are being done cheaper and with more productivity overseas....

    As a Nation we are heading towards that equation of less income for the Country and more being paid out.

    Our current deficit is not decreasing - and since the loss of revenue from the mining sector collapse I can't see it increasing to cover this drain any time soon.

    Any sort of hard decision the Gubb might make is not supported by the Public either - lest it hurts their hip-pocket directly, and is usually blocked by the Senate anyway. This has to change.
     
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  12. C-mac

    C-mac Well-Known Member

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    If the whole world became Greece, I couldn't begin to imagine what would happen at that point.

    Actually, I could. I would count my lucky stars that we are bordered only by sea. Seriously!

    Can you imagine the s#!tfight that countries who have land borders would be facing? Riots, people stealing food and house break-ins, clashes over the smallest sums of money :(

    In such a scenario; there would be refugees on a scale that the world has never seen before. In fact, the world is still full of dozens of highly stable economies/countries, and even then refugee volumes are at their peak globally. I say this in reference to both politcal/human rights refugees and economic refugees also.

    I think that if Greece really does domino into other countries around the world, refugee issues will become an enormous global issue.
     
  13. Lizzie

    Lizzie Well-Known Member

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    Very much so ... stumbled on this great article (albeit share related) to explain why Greece is in the trouble it is ... a little eye opening for myself
     
  14. Chilliblue

    Chilliblue Well-Known Member

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    If you mean that like Greece we are placing our heads in the sand and governing by populous vote then i believe that we could follow them down a similar path.
     
  15. Tekoz

    Tekoz Well-Known Member

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    Not really,

    Because Australia tax system is quite strict and we have got APRA who is now actively tighetning the screw for property investment lending.

    So Australia will be ok.
     
  16. Azazel

    Azazel Well-Known Member

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    Democracy. I think the original Greeks meant something different.
    I do like the idea of voting to banish someone every year though:
    https://en.wikipedia.org/wiki/Ostracism
    If we changed to voting not being compulsory, and the majority didn't vote - that would mean the majority doesn't agree with the current system and get to decide on a new system.
     
  17. Tekoz

    Tekoz Well-Known Member

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    @Biz: yes, it is, after reading "The Big Drop" book by James Rickard, it's all amke sense that world recession will be due soon.
    Source: http://moneymorning.com/jim-rickards-coming-great-depression/

    Australia will not be exempted or dodge the bullet anymore because no more resource boom this type.
     
  18. willair

    willair Well-Known Member Premium Member

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    Australia is not Greece,they are already selling land mark building,ports, islands are going for less then 3 million US,and according to IMF data and Nobel -Prize winner Joseph-Stiglitz the big selloff is just starting,or look up China's Cosco Group makes interesting reading..

    http://www.theguardian.com/business...reality-this-is-no-time-for-european-disunion
     
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  19. Azazel

    Azazel Well-Known Member

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  20. radson

    radson Well-Known Member

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