If you reckon it is good news

Submitted: Tuesday, Apr 22, 2008 at 12:09
ThreadID: 56882 Views:1962 Replies:2 FollowUps:15
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National bonanza sitting on shelf

Then read on! Particularly like this place:

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Despite the prospect of oil and gas reserves, motorists hoping for imminent price relief at the petrol pump were warned not to expect falls.

"LPG and oil prices are part of international outcomes … (like) the price of iron ore, uranium, coal, nickel and copper," Mr Ferguson said. "We are part of a world market."
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Make me laugh of loud. Yep – does not matter what we will be screwed, forced to buy China cr@p and our resources will go to China to make those cr@p. Does it make any sense to anyone?

Serg
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Reply By: The Landy - Tuesday, Apr 22, 2008 at 12:57

Tuesday, Apr 22, 2008 at 12:57
Well, we are getting more for our resources, but to answer your question. Yes it does make sense, unless you are either willing to work for less, or willing to pay more for the goods to be produced in Australia.....we can't have it both ways, unless we are willing to give something up ourselves.

Higher prices or less wages? Or Chinese imports.....
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Follow Up By: KSV. - Tuesday, Apr 22, 2008 at 13:15

Tuesday, Apr 22, 2008 at 13:15
I LOVE to pay more for stuff made in Australia and be assured I always do if I can. That makes me feel (possibly self-fooling) that I make my donation to feed some Australian families rather then making few guys from Toorak even richer. And in case of tools for example in long term it is actually CHEAPER to buy good quality tool, rather then 10 sh1t quality ones. Plus enjoyment to use proper constructed tool instead of frustration and disappointment. Problem is well so often I can not buy anything except of China cr@p - forget about Australia-made! Tell me for example where I can buy quality hatchet – I gave up and get one from USA.

Cheers
Serg
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Reply By: Baldrick - Tuesday, Apr 22, 2008 at 13:03

Tuesday, Apr 22, 2008 at 13:03
I don't understand why more people can't see what's going on.

Everyone goes on about how marvellous the "Boom" is but what's so great about madly digging up all our resources and shipping them off to the Chinese which results in higher prices for just about every necessity of life except for things like plasma TVs.

It's all based on short term greed with a few people getting very rich and everyone else heading for a big fall.
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Follow Up By: Member - John (Vic) - Tuesday, Apr 22, 2008 at 14:14

Tuesday, Apr 22, 2008 at 14:14
So what are we supposed to do leave the stuff in the ground???

Or how about you build a steel mill here in Australia that can process the stuff at the same price as the Chinese, then we can all buy from you, Oh dear I can't produce at the same price as the Chinese because my labour cost is so much higher so that means even higher prices for just about every necessity of life for the average Australian.

The money from the sales comes back here to everyday Australians.
Those that work directly in the various mining industries profit.
Those that invest in the various mining companies profit.
Those that support the mining industry working in other supporting business profit.
And every working Australian that has Superannuation profits.
I guess you work so you are one of those Australians who has a Super policy so YOU profit.

Its not called a "market" for nothing.



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Follow Up By: KSV. - Tuesday, Apr 22, 2008 at 14:32

Tuesday, Apr 22, 2008 at 14:32
John,

To be honest, I do not understand what you talking about. What really upset me (read p1ss me off to the death) is fact that although China-made cr@p (CMC) much cheaper to made, however they do not rush to pass cost saving to us! Yes, in free market any kind of product should exist (i.e. cheap and expensive, good quality and average etc), but as far as I can see with CMC price not related to quality in any way! Furthermore – I saw funny examples like impact drill from Bosch made in Switzerland actually cheaper then equivalent one made in China. Would you dare to try convincing me that China-made is better quality then Swiss one?

And no I cannot understand how one can advocate making stuff overseas in our beneficial – never working like that. It is in beneficial of *SOME*, but not everybody.

In relation to topic they surely cannot change crude oil price even if is produce locally. But if say they discover substantial oil recourses that they surely can drop some taxes on petrol as least on fact that it became fewer deficits in oil trade. Would they do it? Do you want bet?

Serg
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Follow Up By: ob - Tuesday, Apr 22, 2008 at 14:34

Tuesday, Apr 22, 2008 at 14:34
Hi guys

Read thread 56880

Cheers
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Follow Up By: The Landy - Tuesday, Apr 22, 2008 at 14:45

Tuesday, Apr 22, 2008 at 14:45
The thing is there is a market for cheaper foreign imports, which by and large seem to come from China and cover everything from clothing, footwear, furniture – you name it.

Take the iconic Australian footwear company Blunstones (who hasn’t got a pair?), they moved their manufacturing operations to Asia last year after it could not compete with cheap imports. And this was despite funding from the federal government.

The reality seems to be that when given the choice a majority of Australians are buying the cheaper foreign product in preference to the more costly Australian equivalent. If this wasn’t the case Blunstones would still be manufacturing in Hobart.

Only time will confirm whether this is a good or a bad development, however it is everyday Australians that are selling out the Australian product and we can’t blame anyone else for that. The Chinese can only offer their product for sale, it is your average Joe that is buying it.

So it is either a reduction in wages, or a willingness, by the majority, to pay a higher price for the local product.

The world has outsourced a large portion of its manufacturing jobs to Asia, in particular China. The cost of reversing this now will be substantial, for everyone.

BTW, I’m not endorsing this as a good outcome, maybe it is, or isn’t, but that is the reality of the situation.
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Follow Up By: KSV. - Tuesday, Apr 22, 2008 at 14:59

Tuesday, Apr 22, 2008 at 14:59
Unfortunately you right – it is reality. And I am not blaming China, but rather our government for not lifting taxes on China import and “average Joe” to be so shortsighted. And I personally never buy certain stuff made in China, even if it cost me more.

Serg
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Follow Up By: The Landy - Tuesday, Apr 22, 2008 at 15:01

Tuesday, Apr 22, 2008 at 15:01
We can't blame the government it is individuals that make the choice...

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Follow Up By: KSV. - Tuesday, Apr 22, 2008 at 15:04

Tuesday, Apr 22, 2008 at 15:04
Yep, because they elect lousy government :-)))
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Follow Up By: Baldrick - Wednesday, Apr 23, 2008 at 11:58

Wednesday, Apr 23, 2008 at 11:58
John you are typical of the greed that is driving the situation.

Look at the words you use - sales, profit, profit, profit....

You will be able to afford your huge TV etc while those that do not benefit directly from the boom will see increased prices for everyday commodities like food, fuel and housing.

Yes you will have a comfortable life with your rampant consumerism but mark my words in 50 yeras time we will be owned by the Chinese and will probably be their slave labour.
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Follow Up By: The Landy - Wednesday, Apr 23, 2008 at 12:29

Wednesday, Apr 23, 2008 at 12:29
If nobody bought the cheap imports there wouldn't be a market for them. But people, your average Joe, are buying it in preference to the more expensive locally produced item.

The power is in the hands of the consumer, but they are voting with their feet...

I said initially the only way you turn this around is pay Australians in manufacturing jobs less, or pay more for the Australian product - clearly a majority of the people don't want either otherwise we wouldn't be having this discussion.....

So isn't it an indulgence and wealthy class argument that those who can least afford a reduction in wages or those that can least afford to pay more for the more expensive locally made item are made to do so when there are cheaper alternatives available? I mean, it is fine to have these debates about paying more to protect locally made, providing you can afford to do it. Many can’t!

The reality is that Asia has a large supply of labour available at a cheaper price. We could shut up shop and impose tariffs on everything to protect local industries, but that just increases the costs to everyone and puts our export earnings at risk.
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Follow Up By: KSV. - Wednesday, Apr 23, 2008 at 12:47

Wednesday, Apr 23, 2008 at 12:47
“I mean, it is fine to have these debates about paying more to protect locally made, providing you can afford to do it. Many can’t!”

Landy, I would like regretfully disagree with you. Among those who “cannot afford” way too many who can comfortably afford alcohol and dining out. It is not about wealth, but rather about mentality and shortsightedness. Thus if they cannot be educated they need to be forced to and increasing tariffs IMHO will work very well. And I would not be afraid about our export earning because we mainly export raw materials and they never will be out of demand.

Serg.
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Follow Up By: The Landy - Wednesday, Apr 23, 2008 at 13:34

Wednesday, Apr 23, 2008 at 13:34
You don’t need to convince me, it is the families that are struggling to put food on the table and clothes in the cupboards for the kids whilst earning an average wage that you need to debate this with. And there are more and more of these families everyday.

What you are saying is that these families that are already struggling to make ends meet must pay a higher price because we are artificially supporting a manufacturing business through the use of tariffs to make an imported item more expensive.

It looks like a rich man’s argument!
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Follow Up By: KSV. - Wednesday, Apr 23, 2008 at 14:04

Wednesday, Apr 23, 2008 at 14:04
“It looks like a rich man’s argument!”

I wish because if I agree with yours arguments then my kids definitely will have trouble to put something on table! A while back I use to work for textile company. Now textile business virtually killed in Australia because a while back labors lowers tariffs. Again I regretfully disagree with term “artificially supported”, but rather like to use “to protect out future”. But at the end anyone entitled to have very own opinion.

Have a good day.
Serg
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Follow Up By: Member - John (Vic) - Wednesday, Apr 23, 2008 at 18:29

Wednesday, Apr 23, 2008 at 18:29
Baldrick I hardly think that saving for my future retirement is typical of the greed that is driving the situation.

Maybe instead of spruiking crap rhetoric about everyone being greedy and the Chinese are going to take over the world (Seems I remember the same crap being said about the Japanese in the distant past) you get up of you're backside and work to improve your own lot in life. Maybe then you to can have the wide screen TV.

Oh yeah!! and remember.... "Profit is good" as it keeps people in jobs.
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Follow Up By: The Landy - Thursday, Apr 24, 2008 at 16:13

Thursday, Apr 24, 2008 at 16:13
John

It is a good point you raise (backside and work to improve your own lot in life). It is estimated that West australia alone needs something like an extra 300/400,000 workers. The resource boom is providing many with an opportunity if they want it.
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