Economy surging ahead

[Jovial Monk]

Hey, I didn’t publish the GDP figures you insane moron! Address your questions to the ABS! Mining is but 5% of GDP!

As to how the government will fare in 2013 I suggest very well.

A LOTO as unpopular and as much disapproved of as Abbott will not win an election.

After 1/7 (just 25 days away) when people start realising Tone LIED to them you will see support start to shift. End August I think will be the end of Tone: the hard heads in the Liberal Party will be already looking for replacements.

People don’t like those who feed them lies. I suggest you reread the fable of the boy who cried wolf once too often. Tone has been crying wolf every non–sitting day and is going to get a gale of blowback!

I suggest you read a couple of Andrew Elder’s blogs:

http://andrewelder.blogspot.com.au/" onclick="window.open(this.href);return false;

[Jovial Monk]

hahahahahaha:

Miss Bailey Woof ‏@MissBaileyWoof
Gold! @TrubbellAtMill: If the Australian economy was an old man Sophie Mirabella would be so locking it in a shed right now. #auspol
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[mellie]

As for the surging economy, it wouldn't be due to those 'wicked' miners propping up our economy?

So stop giving credit to Wayne Swan where it's not due.

As for business confidence and spending... wouldn't be because they know Labors on the way out?


For a more balanced perspective....

The bureau says the strong result was driven by household spending, business investment and construction related to the mining sector.

But exports and housing investment fell in the quarter…

Western Australia’s economy grew by 7.8 per cent in the quarter, far outpacing the rest of the nation.

The economies of Victoria, South Australia, the Northern Territory and the ACT also expanded in the period, while there was a slowdown in New South Wales, Queensland and Tasmania.

http://blogs.news.com.au/heraldsun/andr ... growth_up/

Why wont you read this Andrews blog?


Too confronting is it?

[Jovial Monk]

Andrew Bolt is a dickhead. Look the bit of crap you posted, household spending up, does he draw any conclusions from that? No. Talks about house prices. I think even housing will show some recovery after 1/7 (maybe 3-4 months after 1/7.)

If household spending is up retailers will have an easier time as will transport and wholesale.

Regarding housing I refer you to my comments on savings ratios etc.

[Jovial Monk]

BBC:

Australia's economy expands more than expected

There were concerns that falling demand for Australia's resources may hurt its economy

Australia's economy expanded more-than-expected in the first three months of the year allaying fears of a global slowdown hurting its growth.

Growth was 1.3% during the period from the previous three months. Analysts had projected a 0.5% expansion.

Compared with the same period last year, the economy grew by 4.3%.

There have been fears that slowing global demand for commodities and a stagnant domestic market may hurt Australia's growth.

However, some analysts said that the latest data showed that Australia's economy was well placed to sustain growth.

"The data suggests that even though we are still concerned about the global economic uncertainty, the impact on the Australian economy has been vastly over estimated so far," Michael McCarthy of CMC Markets told the BBC.

Balanced growth
One of the biggest worries about the Australian economy has been that while its mining sector has been booming in recent years, other parts of the economy have not been doing too well.

It's all about forward-looking risks and Europe is the main source of those”
Michael Blythe
Commonwealth Bank of Australia

However, the latest gross domestic product (GDP) data indicated that the trend may be changing.

It showed that sectors such as professional, scientific and technical services and the financial and insurance sectors contributed as much as mining to the overall economic growth.

Household spending also rose during the period, which analysts said was an indication that consumer sentiment remained upbeat.

http://www.bbc.co.uk/news/business-18336521" onclick="window.open(this.href);return false;

[mellie]

Are you saying the Labor party are in habit of employing dolts Monk, when you refer to Andrew Bolt?


Were you aware that Bolt worked for the Hawke Labor Government on two of his election campaigns?

[Jovial Monk]

He certainly acts like a Dolt! He actually does believe in anthropogenic climate change you know, but finds it profitable to write crap about it. What he writes is crap, only dolts write crap.

[Jovial Monk]

Hmmmm: On GDP data, noteworthy that government contribution to growth was about zero (very slightly negative)…reflecting tightening of fiscal policy.

Growth is all from private sector. The story gets better and better all the time!

And more: On GDP data #2…good to see that the household savings ratio maintains its high level, 9.3% (averaged at around 2.5% during Howard years) So saving steady, the increased income over the savings level starting to be spent. That effect will zoom, grow exponentially over the next year and a bit.

[mellie]

Wow, double posts even, must be getting close to Monks medication time.

Anyway Monk, take it easy, and remember, if you don't mind, the voices inside your head don't matter, OK.

[mellie]

He certainly acts like a Dolt! He actually does believe in anthropogenic climate change you know, but finds it profitable to write crap about it. What he writes is crap, only dolts write crap.

Now you are just rambling.

Goodnight Monk.