Join our investing community

Australia's economy & the crisis

Discussion in 'The Economy' started by bbil, 12th Nov, 2008.

  1. bbil

    bbil New Member

    Joined:
    12th Nov, 2008
    Posts:
    4
    Location:
    Frankfurt
    Hey,

    I'm currently working on a presentation about Australia's economy and effects of the ongoing market crisis- However it seems to be kind of difficult to find well documented facts about that..

    What I'd need is concrete facts & figures like write-offs, up-to-date statistics about business climate expectations, decline in sales etc.. even a general report about Australia's economy related to the crisis would be just fine!
    Tried checking sites like abs.gov.au already but these stats seem to be too abstract to be attributed to certain factors.

    I was hoping that some of you guys could help me out there for you'll probably know reliable Australian news sites etc. a lot better than me.

    Thanks in advance & greetings from freezing cold Germany
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    what crisis?
     
  3. bbil

    bbil New Member

    Joined:
    12th Nov, 2008
    Posts:
    4
    Location:
    Frankfurt
    subprime and everything since, obviously :p
     
  4. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Other than the credit squeeze the subprime hasn't affected us much and any impact will take a while to filter through to actual figures.

    Some banks/finance companies have had some losses due to their exposure to the US subprime market but it's nothing big here.
    You can do searches for subprime and NAB and ANZ, CENTRO, ABC learning
    There should be plenty of reference material there.

    The resources sector has slowed down a bit but they should still maintain their big profits because although commodity prices have come down the mining companies are getting paid in US$ and in recent times the Aus$ lost about 30% of it's value so our companies have a 30% margin before they feel any pain.

    From the employment point of view, for our company (engineering, construction of infrastucture projects) it's business as usual, and in fact we have been employing more staff because we are much busier than we were early in early 2008.

    The banking and retail sectors have been slow but mortgage interest rates have been coming down fast so people now have more money to spend
    and on top of that the federal gov. has doubled and trippled the first home owner's grant and are also giving 1 off cheques to families so that they spend more money for xmas.

    So the situation it's not bad here but ofcourse it could always be better.
    For example, if we were spending more money on our health system and transportation projects (more roads, more train lines, fast trains) and had used our $ surplus to invest in clean energy it would be the best place on earth.

    I think it already is the best place to live anyway but we've got to improve our health system and our roads because they are both very very busy.

    cheers
     
  5. bbil

    bbil New Member

    Joined:
    12th Nov, 2008
    Posts:
    4
    Location:
    Frankfurt
    Thanks for your detailed reply, Bill. That helped a lot!


    Do you happen to have any sources about that? This would be a great fact to include in the presentation, however I couldn't find any sources when searching google for "Australia cheques", "Australia christmas cheques" etc.



    Hope so, In about 2 years I'll probably spend my semester abroad "down under" :)
     
  6. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Here is an article explaining the money given to carers and pensioners and the $1000 payments to families

    Spending the surplus to suit the times | theage.com.au

    There will be others, search for australia spending suplus, budget surplus etc

    cheers
     
  7. carlosreynolds

    carlosreynolds Active Member

    Joined:
    11th Jun, 2008
    Posts:
    39
    Location:
    QLD
    Here's all the info you need on Australia's "Christmas" cheques Economic Security Strategy Payments
     
  8. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
    Posts:
    1,327
    Location:
    Brisbane, QLD
  9. bbil

    bbil New Member

    Joined:
    12th Nov, 2008
    Posts:
    4
    Location:
    Frankfurt
    Thanks to all of you, that should be plenty of additional information to include in my presentation!

    Really looking forward to spending some time in Australia in 2 years :) So until then, thanks again
     
  10. 1300 GET A PLAN

    1300 GET A PLAN Active Member

    Joined:
    2nd Aug, 2008
    Posts:
    37
    Location:
    Gosford, NSW
    You can also read the Australian Financial Review. That's always full of bad news stories.
     
  11. bennymarsh

    bennymarsh Well-Known Member

    Joined:
    10th Nov, 2007
    Posts:
    58
    Location:
    Sydney, NSW
    Beautifully said Bill. When are you going to start being an economics journalist? It'd be nice to have some non-sensationalised press at the moment! I've stopped reading this week in protest.........although that may harm the economy :p

    Benny