Posted to The Age (19/11/12) on 20/11/2012 at 1:45 AM
Commenting on "Is housing recovery just a pipe dream?"
http://www.brisbanetimes.com.au/business/is-housing-recovery-just-a-pipe-dream-20121118-29k61.html
The up swing of the current situation is inevitable. It is not due to the reasons MJ have given, but the bank vaults are bursting with cash and they need it to generate more to satisfy their greed.
During the recession of the 70s, Australia was still at the forefront in many industries and wheat export. Many parts of the world were underdeveloped. The second recession was rescued by the good fortune that European countries spending like no tomorrow using debt. China became a rising star, manufacturing ferociously to satisfy the world's hunger for materialistic needs. The "Western" countries stupidly handed years of R&D to China to produce goods at low prices, creating a pool of unemployed due to factory closure.
Many Chinese factory workers are likely to be smarter than our engineers and builders because they have the inside knowledge and hands on practical experience. That brought great wealth and prosperity to many Chinese, not dissimilar to the early days of the Western countries. Is over dependence on Asian investment good? Definitely not, for the Asians.
Technology advancement creates online demand and opportunities for overseas manufacturers and service providers. This will fuel unemployment for many Australians, in particular the people who are supposedly to be in their prime ageing between 30 and 40. Without employment certainty and security, they will wake up not from the Australian dream but Australian nightmare, without a roof over their head!
Commenting on "Is housing recovery just a pipe dream?"
http://www.brisbanetimes.com.au/business/is-housing-recovery-just-a-pipe-dream-20121118-29k61.html
The up swing of the current situation is inevitable. It is not due to the reasons MJ have given, but the bank vaults are bursting with cash and they need it to generate more to satisfy their greed.
During the recession of the 70s, Australia was still at the forefront in many industries and wheat export. Many parts of the world were underdeveloped. The second recession was rescued by the good fortune that European countries spending like no tomorrow using debt. China became a rising star, manufacturing ferociously to satisfy the world's hunger for materialistic needs. The "Western" countries stupidly handed years of R&D to China to produce goods at low prices, creating a pool of unemployed due to factory closure.
Many Chinese factory workers are likely to be smarter than our engineers and builders because they have the inside knowledge and hands on practical experience. That brought great wealth and prosperity to many Chinese, not dissimilar to the early days of the Western countries. Is over dependence on Asian investment good? Definitely not, for the Asians.
Technology advancement creates online demand and opportunities for overseas manufacturers and service providers. This will fuel unemployment for many Australians, in particular the people who are supposedly to be in their prime ageing between 30 and 40. Without employment certainty and security, they will wake up not from the Australian dream but Australian nightmare, without a roof over their head!
