Interested to know what this means for Australia - Recession?

Discussion in 'Politics' started by Lizzie, 17th Jul, 2019.

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  1. Lizzie

    Lizzie Well-Known Member

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    Is the U.S. Budget Deficit Really That Bad?

    or for those that prefer Fox:

    US deficit could top $1T in 2019
    "Edwards added that Trump’s budget shows the “explosive path of federal spending,” while the federal debt is the highest in the nation's peacetime history when compared with GDP.

    "The new Trump debt projections look scary, but we'll probably be hit by surprises that make the outlook even worse," Edwards said. "The build-up of federal government debt ... could trigger a global economic crisis."
     
    Lizzie, 17th Jul, 2019
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  2. MTR

    MTR Well-Known Member

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    What can I say make hay while the sun shines........ :)
    **** may hit the fan who knows???? but must also put it into perspective I aint an economist but I know US is going through massive expansion phase at the moment and we dont know when or what will stop this train.
    .

    How will this impact Austrlaia if **** hits the fan? Not good, but we have our own woes at the moment with our economy softening, we dont need to worry too much about what US is doing

    Some facts

    11 mind-blowing facts about the US economy

    Thought this was interesting.... look at Japan numero uno

    Australia Government Debt to GDP | 2019 | Data | Chart | Calendar | Forecast
     
    Last edited: 17th Jul, 2019
    MTR, 17th Jul, 2019
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  3. geoffw

    geoffw Moderator Staff Member

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    As far as international events and politics affecting Australia, I would have thought that China was far more significant - although the effect of the US on China's economy will affect us. But there are other factors affecting the Chinese economy, the trade war being just one.

    China, being our major trading partner, has supported our economy at times when other economies have struggled. Chinese investment in our real estate has propped up our prices, and a decline in investment may have contributed to dropping prices in Sydney and Melbourne.
     
    geoffw, 17th Jul, 2019
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  4. MTR

    MTR Well-Known Member

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    But we all know China - economy slowing down.

    What is the obsession with US economy and Trump when China is what matters, our bread and butter in oz
     
    MTR, 17th Jul, 2019
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  5. Fargo

    Fargo Well-Known Member

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    Trump is hurting China's economy which hurts our economy.
     
    Fargo, 17th Jul, 2019
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  6. geoffw

    geoffw Moderator Staff Member

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    But many other things are affecting China's economy. It was in slowdown before the trade war, due to an aging population, a slowing world economy and a declining birth rate being some factors. It's not just US events which are going to affect our economy.
     
    geoffw, 17th Jul, 2019
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  7. datto

    datto Well-Known Member

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    The rebound of Sydney's property prices will be our saving grace.
     
    datto, 17th Jul, 2019
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  8. MTR

    MTR Well-Known Member

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    Last edited: 17th Jul, 2019
    MTR, 17th Jul, 2019
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  9. Lizzie

    Lizzie Well-Known Member

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    The USA has just put a 200% tariff on Chinese garlic (okay, so I'm in the industry) - which will lead to dumping elsewhere in the world - which will affect our local "unprotected" growers ...
     
    Lizzie, 22nd Jul, 2019
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  10. geoffw

    geoffw Moderator Staff Member

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    Chinese garlic is already somewhat cheaper than the alternatives. People who buy other garlic do so because they like it better. The cost for a small quantities not a big factor. I much prefer the bigger nicer cloves and the colour of the alternatives.

    I'd guess that Chinese garlic probably already is the main ingredient in bottles garlic and the like.
     
    geoffw, 22nd Jul, 2019
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  11. Lizzie

    Lizzie Well-Known Member

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    Chinese is the main ingredient in processed garlic (dried, minced etc) - and in all the sauces and stuff - so accounts for around 70% of the garlic consumed in Australia. The concern is this tariff will force further dumping of fresh Chinese on the Australian market - and when it's already being imported for around $2/kg, there is no way the local growers can compete
     
    Lizzie, 22nd Jul, 2019
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  12. MTR

    MTR Well-Known Member

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    But is Chinese garlic any good, am particular with my garlic, quality first
     
    MTR, 22nd Jul, 2019
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  13. Lizzie

    Lizzie Well-Known Member

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    Chinese garlic is rubbish - sprayed with all sorts of toxins, is tested to show high fecal matter, can be up to 2-3 years old (cold storage) and very bland in flavour. Sadly, it's cheap and many buy on perceived value for "cheap".

    Try and track down a local grower - or better yet - grow your own in a pot or the garden :)
     
    Lizzie, 22nd Jul, 2019
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  14. geoffw

    geoffw Moderator Staff Member

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    I agree. What use is garlic that barely tastes like garlic?

    But my point is that it's already a lot cheaper than local. Anybody who buys local now will continue to buy it. Currently I can buy a net of Chinese garlic for not that much more than a bulb of local - and I buy the local. If I can buy two nets for the same price, it won't change my buying habits - and I suspect that it won't alter the habits of most people who buy local.
     
    geoffw, 22nd Jul, 2019
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  15. Lizzie

    Lizzie Well-Known Member

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    I agree - but a lot of the buying isn't in the hands of the consumers - it's the big supermarkets and the fruit/veg stores, who will sell the cheap imported stuff at the same price as the Australian, so they prefer to buy the cheap (higher markup) ... and when Australian's not on offer, because the retailers have bought the cheap stuff instead, buyers will buy what is on offer.

    I know a few growers who really struggled to sell their product on the wholesale market this year, as we were flooded with stuff from South America selling at under $2.50/kg ... whereas Australian farmers simply cannot produce it for under $6/kg.

    Push back has got to come from the consumers
     
    Lizzie, 22nd Jul, 2019
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  16. balwoges

    balwoges Well-Known Member

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    I avoid buying food from China/South America at any time :eek: and go without garlic if there is no locally grown available. Dont even buy frozen blueberries etc from NZ as the berries are grown overseas.
    I just wish I could do the same with my clothes, all made in China and India with slave? labour.
     
    balwoges, 22nd Jul, 2019
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  17. SatayKing

    SatayKing Well-Known Member

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    Wish the deodorised version was in existence when I lived in Melbourne and caught the trams on a hot Summer's morn.
     
    SatayKing, 22nd Jul, 2019
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  18. MTR

    MTR Well-Known Member

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    Yes, don't touch fish Asia. Only buy fresh from local fish monger
    That reminds me anyone into oysters must go to South Melbourne markets, the most amazing oysters, just buy and eat on the spot,
     
    MTR, 22nd Jul, 2019
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  19. geoffw

    geoffw Moderator Staff Member

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    I used to work with a guy who travelled on the same train. When he was on the booze, he'd get a pizza with a full bulb of garlic and a fistful of chillies. I'd see him on the train, and from the other end of the carriage, I'd say "Gidday Norm. Been drinking?"

    The pizza shop had this pizza featured as "Norm's Special" for many years afterward.
     
    geoffw, 22nd Jul, 2019
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  20. SatayKing

    SatayKing Well-Known Member

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    Was the end of the train you were on packed and where he was rather sparse with fellow travellers?
     
    SatayKing, 22nd Jul, 2019
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