Wednesday, March 15, 2017

Venezuela of The Pacific? Updated

While I was  searching out reliable information for a reply to Legbut's last squirt of unsavoury material, I came across some interesting background on the Australian economy.

It shows a headlong rush in the race to  be the Venezuela of the Pacific.

Australia is heading that way, thanks to a succession of deluded state and federal socialist governments.  Yes, Turnbull is a socialist.

Have a look at the figures.  They make for scary reading.



20112012201320142015
Population (million)22.522.923.323.623.9
GDP per capita (USD)66,80768,02064,61561,20351,320
GDP (USD bn)1,5041,5591,5061,4441,225
Economic Growth (GDP, annual variation in %)2.73.62.02.72.4




Australia's balance of trade went from US$35.9bil positive in 2011 to US$12.9bil negative in 2015.
In my opinion, while a weakening in China's demand for iron ore and coal has been a factor, much of the decline in GDP and export revenue can be attributed to an insane energy policy based on closing down the coal industry and subsidizing uneconomic so-called 'renewable energy' which has rendered Australia's power supply among the most expensive and unreliable in the world.
  - all based around the irrational and religious belief in 'global warming.'

No wonder Aussies with brains are flocking to NZ in their thousands.

 Update

No sooner do I hit the publish button but the bad news keeps rolling.  600 more jobs gone, this time due to intransigent unions.

9 comments:

The Veteran said...

Adolf ... I don't pretend to understand Oz politics (although I try) but it's difficult to avoid the conclusion that the once 'lucky country' is over-over-governed. A Senate and a House and replicated again at State level and then it's local governments turn. At national level the Senate, with so many competing interests and agendas, has the ability to paralyze decision making but perhaps the greater concern is that it has lifted pork-barrel politics to a new level.

The House of Representatives, with the mainstream parties dominated by factional politics and where coup and counter coup is almost 'de rigueur', appears broken. The antics of recent years have seen sections of the electorate, disillusioned with 'establishment' politics, turn to more populist parties (PUP and One Nation) as a way of saying a blight on both your Houses. Never mind that all they have on offer is simple solutions to complex problems with a huge dose of xenophobia thrown in for good measure.

For what it is worth I think Oz politics is going to get a lot worse before it gets better. Turnbull ain't up to it skipping as he is from crisis to crisis, some real and some manufactured ... but anyone that thinks Shorten's mob can do better needs their head read. The realiy is that with only a one seat majority in the lower house and events conspiring against him Turnbull is on borrowed time. Gone by Xmas anyone????????

Adolf Fiinkensein said...

You're pretty close to the mark, Vet. Unless the Libs give Tony Abbot another run, I can't see anything other than a Labor win on the horizon.

I have some reservations about Abbott due to his many stuff ups last time but by hell, he knows how to win elections.

As a lifelong Nation/Liberal supporter I'm saddened by the lack of calibre among the upper echelons of the state Liberal parties. I couldn't bring myself to work for the party in SA or WA and I suspect many core supporters feel the same. There are no Charlie Courts or Henry Boltes anywhere to be seen. They were men of stature.

David said...

Adolf, are you still shilling for Murdoch? Linking to a pay walled article is about as useful as an orange clown in the Whitehouse. You could have at least posted an appropriate snippet so the rest of us can see what is going on. Neither The Age or the News websites posted a similar story, nor is there reference to it in today's print version of the Oz.

Do your figures take in to account the changing exchange rates? Australian economy does not operate in $US. Probably not, but you would ignore that as it supports your false news narrative.

IF there is a decline in GDP per capita that will have far more to do with business decision making than anything else. GDP per capita growth comes from improving inefficiencies by employing new technology or upgrading existing factories. When the capitalist class flees to low wage, unregulated economies the chances for GDP per capita to rise are removed. When all a nation is left with is baristas and hairdressers there is no technological innovation that could make them more productive.

...much of the decline in GDP and export revenue can be attributed to an insane energy policy based on closing down the coal industry and subsidizing uneconomic so-called 'renewable energy' which has rendered Australia's power supply among the most expensive and unreliable in the world.

The figures you quote do not show anything about export revenue. The rest is made up talking points straight out of the mouth of Malcolm Roberts.

David said...

No wonder Aussies with brains are flocking to NZ in their thousands

And yet here you remain.

Adolf Fiinkensein said...

David. Put away your dog eared copy of Das Kapital.

You appear to not understand the derivation of 'balance of trade.' But then you are somewhat unbalanced.

Go and get a subscription to a decent paper instead of wallowing in that festering junk you read.

Anonymous said...

Abbott won't agree to stand for PM again - once bitten ... He was white-anted continuously by colleagues he thought he could trust, the news media demonstrated total ADS (similar to KDS and now TDS), and he was restricted in passing new laws and amending inefficient and unpopular laws by a hostile and partisan Senate. Australia won't be fixed until they review their governance system and bring it into line with something that is compatible with a modern democratic monarchy. I think they have left it too late to make these types of changes however, and will end up with something along the lines of a bastardised republic, the worst solution of all. Think Germany.

MarcW

David said...

I have some reservations about Abbott due to his many stuff ups last time but by hell, he knows how to win elections.

Which elections would they be? Class president, Grade 3? Most likely to marry a blokey looking kiwi?

3 votes for Leader of Party - won 1, lost 2.

2 Elections as leader of party - won 1, lost 1.

Not a winning track record. John Howard and Bob Hawke had far better records at winning elections.

David said...

You appear to not understand the derivation of 'balance of trade.'

What is the connection between GDP and balance of trade, oh wise one?

China has a GDP per capita of $US 8027 against the US $US56,115 and yet the BOT is a US deficit of $US 366 billion. Why is that so?

Adolf Fiinkensein said...

There isn't much. Go back and read the comment after you have taken comprehension lessons. Do they have those in Das Kapital?