The unemployment shark is back attacking the economy.It is hurting the very essence of the Australian system. Australian economy has been robust and riding the success wave. But the latest quarter has thrown up new challenges.Inflation is increasing due to destruction of food crops due to global climate changes.
New budgets and economic packages can have a significant effect on the behavior and outcome of markets. Not only in response to government packages, but also reacting in real time as analysts try to predict how certain events will affect the outlook of their organisations. This is where the economic machine fits alongside geo-political influences as the relationship between nations, in whatever sense, is crucial to the performance of individual markets. And this is where an equilibrium must be found between politics and economics, so the markets can behave in ways conducive to business. Perhaps this is why when a situation such as Ukraine’s happens, nations are slow to respond so they don’t upset power balances too much. The mixture of a new budget for us, the crisis in eastern Europe and unstable financial systems in Asia, mean equilibrium must be found. However, power balances are all too hard to control. Whilst economies, with their shares and stocks fluctuating, governments want the best for their countries which often undermines the interests of big corporations.
The power balance is shifting and the need of the hour is policy revision. New policies will act as the Noah for the Australian economy. It will drive it forward to success. Asia is also picking up the pace after an year of slack. So, the things look bright but edgy,
Rapid population growth, foreign investments are the factors pushing the Australian economy ahead. With increase in trading partners the Economy looks to be speeding ahead. This is the era for growth for Australia.
The investors are the driving force behind the rosy scene. They seem confident and willing to invest more resulting in around 4 percent growth. The major trading partner countries are recovering at a normal pace now. The economy is picking up in Asia, and Asia is one of the major export markets for Australia. Australia is one of the hot destinations for immigrants, which adds to the skill level of the workforce. Lesser exports to China have been offset by increasing demands in East Asia.
The increasing House prices in Australia
Household incomes are rising and will support the growing needs for housing. The construction industry is likely to have more appreciated growth. In spite of high rates for property, there is no case for alarms. The debt payment is having very healthy trend. Mortgage credit which has put down major economies is hardly a factor in Australia.
Jobs available to skilled class has shown a growth of 2.7 percent indicating the growth in the economy. The unemployment rate is one of the lowest in the last decade at 4 percent.
It is one of the few economies across the globe where lending cost has gone up. The hope is that the upswing will continue further adding to wealth of the common Australians.
Tourism is also supporting the economy well. With major tournaments like Australian Open Tennis and the World Cup in early 2015 will add to the economy. The early legislations protecting the environment are bearing fruit. People from all over the world are coming over to experience the unique wild life and the scenery.
Australian economy is rocking at the moment!!!!!!!
Australia is no stranger to current account deficit- it has been a constant companion for more than a century, at least. However, the September quarter has seen a 10% reduction in current account deficits. The Australian Bureau of Statistics was expecting a slight reduction in the deficit- but not to the tune of 10%. This is just a sweet surprise, in a way.
Current account is the account that measures the international flow of income. The current account measures transfer of dividends, aid, interest payments, etc. between Australia and other countries. The second quarter of this year saw a doubling of deficit, thanks to decreasing exports and a perceivable drop in commodity prices. However, exports have picked up again and this surplus supply has caused the deficit to slim from $13.9 billion to $12.5 billion.
This has been a fairly good year for the Australian economy, at least as far as current account deficits are concerned, since it hit a three decade low! The Australian economy has seen a surplus supply thanks to increasing exports. Australia’s trade agreements with China and Japan and other countries might have something to do with this. It might certainly help the country’s economy to promote trade agreements with other countries.
Australia seems to pop up in the news so often alongside reports of terrorism and terrorist activity. It’s a tough trend to analyze and understand but an important one nevertheless.
On one hand, it can do good things for our international reputation with our economic partners around the world seeing us pulling our weight and doing our bit to make the world a safer place for all civilized people. Although the story is written a little vaguely we have to hope that we are indeed effectively thwarting these sorts of plots as we’ll certainly be improving our relations with the US in doing so. Our cross-pond counter-terrorists are so formidable in their War of Terror that it’s hard to begin to imagine the damage in relations we’d suffer if we were ever to stop following their lead.
The downside to this sort of news and activity are stories such as this one. The more we fight and defame the people involved in this sort of terrorist activity, the more we’ll incur their wrath and the more likely we are to be targeted in these sorts of vicious, inexcusable attacks.
Ultimately I guess that if we want to follow in America’s footsteps then we must continue being heavy-handed and enforcing a zero tolerance approach. That said, I often wonder if there’s another option. One based on kindness, negotiation, communication, understanding and basically love. It might sound a bit hippified but surely any steps taken in the direction of love and understanding are a better choice then continued violence and slaughter.
A lot of economical talk and rhetoric seems to be a back and forth between the government who tell us that markets need to be less regulated and corporations under less scrutiny while pointing the finger at benefit thieves and welfare-worship as the reason why the country’s coffers are so vacant. I’ve always been suspicious of this line of reasoning having volunteered in charities and seen first hand what the genuine reliance so many people have upon welfare support. It was reassuring therefore to read this report in which Andrew Forrest’s lambasting of welfare sparing and doom-and-gloom prophesying of welfare “becoming a destination and a trap for too many of our fellow Australians” is thoroughly and completely debunked. Past readers of my blog will know my feelings about the true leeches on our society who are very real and pose a very tangible threat, indeed, irrevocable damage has already been done in countless countries because of foreign aid being used as the excuse by which powerful, rich countries open up weaker, poorer nations’ economies in order to rob, pillage and exploit their natural resources. The governments and corporations of the rich world are the true leeches of not only our national reserves, but the reserves of the world at large. Can we really stand idly by while these tyrants burn our future to the floor?
The map shows what a crazy world we really live in and how easy we, in the rich developed world, truly find it to disconnect from the plight and reality of most of our fellow humans. I recently came across a website that’s helping me voice my concerns and raise some awareness for these issues. Ferratum lender has given me access to much needed cash in these unstable and uncertain economic times. It’s allowed me to continue writing, reading, analyzing and educating myself and I highly recommend anybody struggling to make ends meet to give the website a try. That’s all for this week!