real economy worst figures in 20 -40 years

  1. 17,117 Posts.
    contrary to what the 'dope team' says about a booming economy, that can afford to pay mining tax, carbon tax, and flood levies etc...

    I would suggest that all that talk of the mining and carbon taxes, has already taken affect, that there is no more mining boom in the future, the boom has been stopped in its tracks, and it is now in decline..
    thanks rudd and gillard and stooges

    the real figures are the opposite to a boom, its staggering...
    there are huge declines in mining outputs, exports etc
    and wages are growing and hurting the economy

    just extracts from the article below, I have inserted **** at some numbers, eg exports biggest decline in 37 years, mining output, biggest decline in 25 years


    AUSTRALIA'S economy contracted in the first quarter of this year, only the fifth time that real gross domestic product has declined since the recession of the early 1990s. (***the worst in 20 years)

    The volume of exports fell by 8.7 per cent, the largest decline in **** 37 years, largely reflecting a 27 per cent slump in exports of coal and an 8 per cent fall in exports of other ores and minerals. By itself, the fall in exports sliced 2.1 percentage points off total output in the March quarter. A rundown in inventories, which was probably also prompted by the series of natural disasters, reduced total output by another 0.5 percentage points.


    Overall, the output of the mining industry dropped by 6.1 per cent in the March quarter, the biggest quarterly decline in **** 25 years. Farm output, which was also affected by floods and cyclones, fell by 10 per cent.

    Read more: http://www.theage.com.au/business/alarm-bells-at-rba-20110607-1fqz1.html#ixzz1OdUiUTH0
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.