Australian Politics Forum - SA in recession

Ex Dame Pansi

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Australian Politics

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SA in recession
Apr 4^th, 2012 at 2:14pm

Judging by the reader comments, the people already knew this. The signs are too obvious.
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SOUTH Australia is in recession, with poor housing, manufacturing and population growth, a leading economist warns.

Bill Evans, from Westpac, has also questioned the benefits to SA in the short term of the proposed Olympic Dam expansion, saying much of the money to be spent on the project would flow overseas.

http://www.adelaidenow.com.au/recession-biting-our-state-bank-warns/story-e6frea6u-1226317963456

reader comments.

Jack snelling, you always quote unemployment figures yet you never mention that those who are paid for one hours work per week are classified as being full time employed.
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Blind freddy can see the states in the proverbial sh*t. Hanging our financial hats on a half ar*** mining boom, a couple of defense boat builds that may happens, some wimpy feel good arts events and a few sporting circus's doesn't make for a bright sustainable economic future.
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Snelling wants to drive around with his head out the window, and see how many for lease signs there are compared to 4 years ago. I have lived in Adelaide for 6 years and have been the victim of 3 business closures out of 5 jobs I have had
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Mr. Snelling you might not agree with "the claim" but FACTS are FACTS. Denying a problem exists won't make it go away.
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Amazing, the banks tell one story and the governement tells another, so who do you believe. Just ask the average person in the street and I am sure you will hear the true story.
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I am a director of a small buisness and I could have told this guy exactly that, people that I have spoke to in other businesses have never seen it this bad in the last 20 years, especially the trades and property. Display home developments are deserted on the weekends, walk into shops and they are empty, ask yourself how do they survive with no-one buying anything. Forget the statistics and figures we are in one and have been for 6-12 months.

http://www.adelaidenow.com.au/recession-biting-our-state-bank-warns/comments-e6frea6u-1226317963456

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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....

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perceptions_now

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Australian Politics

Posts: 11694
Perth WA
Gender: male

Re: SA in recession
Reply #1 - Apr 4^th, 2012 at 8:04pm

Ex Dame Pansi wrote on Apr 4^th, 2012 at 2:14pm:

Judging by the reader comments, the people already knew this. The signs are too obvious.
.......................................................................

SOUTH Australia is in recession, with poor housing, manufacturing and population growth, a leading economist warns.

Bill Evans, from Westpac, has also questioned the benefits to SA in the short term of the proposed Olympic Dam expansion, saying much of the money to be spent on the project would flow overseas.

http://www.adelaidenow.com.au/recession-biting-our-state-bank-warns/story-e6frea6u-1226317963456

reader comments.

Jack snelling, you always quote unemployment figures yet you never mention that those who are paid for one hours work per week are classified as being full time employed.
.................................................

Blind freddy can see the states in the proverbial sh*t. Hanging our financial hats on a half ar*** mining boom, a couple of defense boat builds that may happens, some wimpy feel good arts events and a few sporting circus's doesn't make for a bright sustainable economic future.
...................................................

Snelling wants to drive around with his head out the window, and see how many for lease signs there are compared to 4 years ago. I have lived in Adelaide for 6 years and have been the victim of 3 business closures out of 5 jobs I have had
..........................................................

Mr. Snelling you might not agree with "the claim" but FACTS are FACTS. Denying a problem exists won't make it go away.
.....................................................

Amazing, the banks tell one story and the governement tells another, so who do you believe. Just ask the average person in the street and I am sure you will hear the true story.
............................................................

I am a director of a small buisness and I could have told this guy exactly that, people that I have spoke to in other businesses have never seen it this bad in the last 20 years, especially the trades and property. Display home developments are deserted on the weekends, walk into shops and they are empty, ask yourself how do they survive with no-one buying anything. Forget the statistics and figures we are in one and have been for 6-12 months.

http://www.adelaidenow.com.au/recession-biting-our-state-bank-warns/comments-e6f...

Perhaps someone should tell the Central Banks, particularly the US Federal Reserve, as they/it seem hellbent on the assumption that "ignoring it, will make it go away".

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bobbythefap1 Gold Member Offline Posts: 7026 Listen now to the rain	Re: SA in recession Reply #2 - Apr 5^th, 2012 at 9:05am Quote: Perhaps someone should tell the Central Banks, particularly the US Federal Reserve, as they/it seem hellbent on the assumption that "ignoring it, will make it go away". Obviously they know that isnt actually going to work
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hawil

Gold Member

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Australian Politics

Posts: 1345

Re: SA in recession
Reply #3 - Jun 27^th, 2012 at 9:13pm

Ex Dame Pansi wrote on Apr 4^th, 2012 at 2:14pm:

Judging by the reader comments, the people already knew this. The signs are too obvious.
.......................................................................

SOUTH Australia is in recession, with poor housing, manufacturing and population growth, a leading economist warns.

Bill Evans, from Westpac, has also questioned the benefits to SA in the short term of the proposed Olympic Dam expansion, saying much of the money to be spent on the project would flow overseas.

http://www.adelaidenow.com.au/recession-biting-our-state-bank-warns/story-e6frea6u-1226317963456

reader comments.

Jack snelling, you always quote unemployment figures yet you never mention that those who are paid for one hours work per week are classified as being full time employed.
.................................................

Blind freddy can see the states in the proverbial sh*t. Hanging our financial hats on a half ar*** mining boom, a couple of defense boat builds that may happens, some wimpy feel good arts events and a few sporting circus's doesn't make for a bright sustainable economic future.
...................................................

Snelling wants to drive around with his head out the window, and see how many for lease signs there are compared to 4 years ago. I have lived in Adelaide for 6 years and have been the victim of 3 business closures out of 5 jobs I have had
..........................................................

Mr. Snelling you might not agree with "the claim" but FACTS are FACTS. Denying a problem exists won't make it go away.
.....................................................

Amazing, the banks tell one story and the governement tells another, so who do you believe. Just ask the average person in the street and I am sure you will hear the true story.
............................................................

I am a director of a small buisness and I could have told this guy exactly that, people that I have spoke to in other businesses have never seen it this bad in the last 20 years, especially the trades and property. Display home developments are deserted on the weekends, walk into shops and they are empty, ask yourself how do they survive with no-one buying anything. Forget the statistics and figures we are in one and have been for 6-12 months.

http://www.adelaidenow.com.au/recession-biting-our-state-bank-warns/comments-e6frea6u-1226317963456

Here is a letter to the Adelaide Advertiser, I wonder if they will publish it. John Doyle will hardly suffer from a SA recession.

Dear Sir/Madam.
In the article “Call to scrap lavish pension payouts” Advertiser 27’June 2012, Daniel Wills points out the exorbitant pension paid out to retiring chief justice John Doyle.
John Doyle was probably in the defined SA benefit super fund, which pays any member of that fund 66% of the final salary as a life pension, indexed to the CPI
As the pension is from an untaxed fund, John Doyle will pay approximately $100,000 in tax, but the federal government introduced the tax-free super for the over sixties, in 2007, if the super is paid from a so-called taxed fund, and to appease the super recipients from untaxed funds, a 10% tax-offset was granted to the recipients of defined funds, which will give John Doyle a $26,100 tax offset, lowering his tax bill to $75,000 a year. The tax offset is almost as much a pensioner couple gets in annual age pension. Mr Doyle could have also have set himself up a Self Managed Super Fund, and paid into it $150,000 a year of after tax money, but the tax on the income of that would have been 15% while in accumulation stage and be completely tax-free when Mr.Doyle turns sixty and starts to draw another pension from this fund, which would be completely tax-free. With the large salary, it is quite feasible that Mr.Doyle could have another million in the SMSF, receiving an income of close to $100,000 per annum, completely tax-free.
Nice work, if you can get it.

Yours truly
Hawil

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