- 30 Aug 2012 12:05
#14045252
http://au.finance.yahoo.com/news/resour ... -over.html
Hmm, could the time for gloating over US and European woes be coming to an end?
http://au.finance.yahoo.com/news/grave- ... nomy-.html
Seems the good times are coming to an end for those with the social status to have benifited from the long boom. Tough for the poor old Aboriginals and other marginalied groups in Australian society who were left out, eh? No problem, we'll all be unity in poverty soon.
Perhaps Australia's horeshit elites ought consider training for new careers, like rickshaw driver for Chinese tourists?
The Minister for Resources and Energy, Martin Ferguson, has declared the end of the mining boom, following the shelving of BHP Billiton’s Olympic Dam expansion in South Australia.
“You've got to understand, the resources boom is over,” Mr Ferguson told ABC radio this morning.
......
The Minister for Resources and Energy, Martin Ferguson, has declared the end of the mining boom, following the shelving of BHP Billiton’s Olympic Dam expansion in South Australia.
“You've got to understand, the resources boom is over,” Mr Ferguson told ABC radio this morning.
Hmm, could the time for gloating over US and European woes be coming to an end?
http://au.finance.yahoo.com/news/grave- ... nomy-.html
Ever since investors got jittery about a Chinese hard landing, global analysts starting predicting that Australia was in for a rude shift in its fortunes.
In April, Dylan Grice from major European bank Societe Generale wrote that Australia is "a credit bubble built on a commodity market built on an even bigger Chinese credit bubble."
Grice summed up his beliefs claiming that "Australia looks like leveraged leverage, a CDO squared".
Seems the good times are coming to an end for those with the social status to have benifited from the long boom. Tough for the poor old Aboriginals and other marginalied groups in Australian society who were left out, eh? No problem, we'll all be unity in poverty soon.
Perhaps Australia's horeshit elites ought consider training for new careers, like rickshaw driver for Chinese tourists?