Australia GDP falls most in 20 years!!!

All Government stats are bullshit. The real unemployment rate in the US is somewhere around 17%.

http://www.shadowstats.com/

Quote from Alex_in_Oz:

We in Australia are no strangers to bullshit statistics.
Remember we have 5% unemployment rate yet the economy shrank 1.2 %! Figure that one out!
A storm, the weather, is enough to send our GDP plummetting.
The RBA has sent the east coast into recession because it sees danger of 'inflation'.

I think there are other forces at work....
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IMAGINE a country of about 25m people, democratic, tolerant, welcoming to immigrants, socially harmonious, politically stable and economically successful; good beaches too. It sounds like California 30 years ago, but it is not: it is Australia today. Yet Australia could become a sort of California—and perhaps a still more successful version of the Golden State.
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How did welcoming to immigrants work out for California? The state is now bankrupt. How is welcoming immigrants working out for Europe? Australia better stop that bs right now, unless they want to end up with a bankrupt, lawless country, ran by the immigrants they welcomed in.
 
Quote from Roark:

How did welcoming to immigrants work out for California? The state is now bankrupt. How is welcoming immigrants working out for Europe? Australia better stop that bs right now, unless they want to end up with a bankrupt, lawless country, ran by the immigrants they welcomed in.
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welf are is the killer ,not immigrants,the immigrants who built this country worked,if not they died
 
Quote from Roark:

How did welcoming to immigrants work out for California? The state is now bankrupt. How is welcoming immigrants working out for Europe? Australia better stop that bs right now, unless they want to end up with a bankrupt, lawless country, ran by the immigrants they welcomed in.
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Err... where do you think the population of modern Australia came from - dropped from the sky?
 
That is correct. Welcoming immigrants turned out pretty shitty for both the Australian Aboriginals and the native American Indians.
 
Exactly!

The worst immigrants were the boat people of 1788!

Our reserve bank recently said that we are a in a decade long BOOM!

(They said this just before the market dropped off a cliff in 2007)

The RBA is the best contrarian indicator around!
 
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