Australian economy heading for 'scarily fast' fall: analysts

[w¡n9Nµ7 §£@¥€r 123]

Australia mulls 2nd stimulus,

Rudd hinted at a second stimulus package to inject life into the flagging domestic economy.

[SAT 9,609]

If they're anything like Canada, they'd be OK. Canda's external debt to GDP ratio is pretty good I think........

Public debt: 64.2% of GDP (2007 est.)

Source: https://www.cia.gov/library/publications/th...k/print/ca.html

The numbers for the US:

Public debt: 60.8% of GDP (2007 est.)

Source: https://www.cia.gov/library/publications/th...k/print/us.html

Of course, soon it's going to be close to 80%.

Looks to me that Canada is doing better than us, when it comes to GDP-external debt ratio.

The concern with us is, if the dollar loses value, what will it bring that external debt to? But we've gone thru periods of isolation and have proven that we are a self-sustaining nation. So I think we'll be OK.

I think Iceland is the country to look at here, what was their GDP/external debt ratio before they went under? And they are not self sustaining.

Did Iceland have to tap into the IMF?

[Heracles 417]

Latest Unemployment Rates:

United Kingdom: 6.1%

United States: 7.2%

Australia: 4.4%

Canada: 6.3%

Edited January 21, 2009 by Aficionado

[SAT 9,609]

Latest Unemployment Rates:

United Kingdom: 6.1%

United States: 7.2%

Australia: 4.4%

Canada: 6.3%

Whats our unemployment rate in regards to illegal aliens?

[w¡n9Nµ7 §£@¥€r 123]

Yes, a 2nd stimulus package. How confidence inspiring.

[Peikko 1,575]

What are you doing outside your nice little fishing thread Steve? Bored?

[Heracles 417]

Yes, a 2nd stimulus package. How confidence inspiring.

Australia is an exporting nation so they obviously are going to be affected by the global community. They are in an excellent position to weather the storm.

To Australia's advantage, they do not have an open ended immigration policy allowing anyone to come in as they please. This means they have been able to keep supply and demand in tact. Keeping wages at a high level for most. Whereas, we still have hundreds of thousands of people coming here yearly while Americans lose their jobs daily, left right and center. That is not even including the millions of illegal immigrants that are currently both working and living here. Simple mathematics. For every job an illegal immigrant takes that is one less job for an American. Such scenarios are extremely rare in Australia.

Edited January 21, 2009 by Aficionado

[w¡n9Nµ7 §£@¥€r 123]

Yes, a 2nd stimulus package. How confidence inspiring.

Australia is an exporting nation so they obviously are going to be affected by the global community. They are in an excellent position to weather the storm.

A 2nd stimulus package, so yes - obviously

[mawilson 2,133]

To Australia's advantage, they do not have an open ended immigration policy allowing anyone to come in as they please.

If the US was surrounded by water, we wouldn't either.

[Heracles 417]

A 2nd stimulus package, so yes - obviously

Nothing wrong with being proactive.

[w¡n9Nµ7 §£@¥€r 123]

A 2nd stimulus package, so yes - obviously

Nothing wrong with being proactive.

Uh huh.

[SAT 9,609]

What are you doing outside your nice little fishing thread Steve? Bored?

I do follow the economy a little...........

I dided goes to college..........

What are you doing outside your nice little fishing thread Steve? Bored?

Fishing......is a passion.........

[Heracles 417]

To Australia's advantage, they do not have an open ended immigration policy allowing anyone to come in as they please.

If the US was surrounded by water, we wouldn't either.

The United States immigration policy though is not a reflection of demographics. The UK and Canada have even adapted the Australian points system. It is extremely difficult to get around and function in Australia as an illegal immigrant. Both the unions and the government are also tough on anyone using illegal immigrants. Simple strategy, Australians come first. People are more than welcome to take the appropriate immigration channels but illegal immigrants are simply not welcome.

[Trumplestiltskin 5,791]

It probably also helps that Australia is isolated by itself in the middle of the Indian and Pacific Oceans... The only illegal immigrant problem they probably have to deal with are travelers on expired visas and the occasional refugee ship that gets turned back.

[SAT 9,609]

SYDNEY (AFP) — Australia is heading for the sharpest economic slowdown in its history and recent prosperity will fall "scarily fast".

...

"This is not just a recession. This is the sharpest deceleration Australia's economy has ever seen," the Access Economics think-tank said in its quarterly business outlook.

...

Access Economics ... predicts two quarters of negative growth -- the second and third -- will drive Australia officially into recession.

http://www.google.com/hostednews/afp/artic...aE9jMYKhwxR0TLQ

Do u guys feel that this worsening economy......

1. Is made out to be better than it really is?

2 Worse than it really is?

3. Could lead to the formation of a "North American Union"?

4. will make u wanna go fishing for food?