So what's up with Australia these days? Horrible GDP It

Congratulations, you just realized that the current exchange rate is terrible.

You can thank the current global resource slow down.

>>958242
So it America now better then Australia?

>>958251

It depends. Several Australian cities are still ranked in the top 10 most livable cities. Also the HDI for Australia is way above that of the US. Of course if you are living in a rich area of the US it would also be quite nice. Overall, I would say living in Aus would be more pleasant than living in the US. But I can't comment personally.

I don't know where abouts you are situated in Australia but the Sydney region's construction industry is booming. I believe it has the highest crane count after Dubai. You are in a good place to move up and gain a lot of experience.

>>958261
>>958242
Spotted the Australian.

You live in a shithole. It's like you guys aren't even a real country; just a bunch of kangaroo fuckers.

>>958251
Come back to the US buddy. We're not a bunch of inbred convict exiles and abbos.

>>958273
>We're not a bunch of inbred convict exiles and abbos.
Right, just niggers and spics.

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The thing about Australia is that our economy has been heavily dependent upon mining for the last 15 years or so. When the USA was going through it's recession, we were plowing ahead by digging up resources for China.

The AUD that was worth $1.10US in 2011, is now worth $00.70US in 2015. Commodities have been hit hard and there is a corresponding slowdown in Australia because of it.

Just look at Canada. Same deal.

The fact that you don't know this, or didn't consider it when you came here makes you an idiot.

Also, fuck off we're full.

>>958273
That's a bit rude.

>>958315
The low exchange rate isn't a result of a slowing economy. It's a stabiliser that helps the economy.

>>958317

>The low exchange rate isn't a result of a slowing economy.

But it is. Look up the corresponding unemployment rate from 2011 and 2015 and get back to me.

A low currency helping the economy is a meme.

>>958273
australia, home of worlds most livable city 5 years running
>shithole
okay mate

>>958317
I think you are confusing short run and long run effects.
I was aiming my comment on the long run status of the Australian economy. So in the long run the business cycle is fairly evened out.
We are not in the middle of a 'Mining Crash' which is what you would expect from any ridiculously unsubstantiated growth.

If you want to talk about the short run effects, which element of this is a "meme".

Poor employment means that the RBA will consider its cash rate respectively. Which happened as interest rates have decreased from 5 to 2%. Low interest rates will deter financial foreign investors, decreasing demand for the Australian dollar, the dollar depreciates against major financial investors, which incentivises exports (as the goods are cheaper), which increases aggregate demand as inventories decrease.
What's the meme?

>>958323
>>958389
I meant to address your post but I tagged myself, haha

>>958315
>fuck off we're full
Aus could easily support a billion people.

>>958399
If the majority wasn't a desert, yeah

Australia is a meme country, the only reason they have money is from selling coal to China

>>958426
>reason they have money is from selling coal to China
AYY your not supposed to tell anybody that m8....

>>958421
lol nah man, have you driven the coast of australia?? 90% is desolate. we could easily support upwards of 300M in my opinon, take Japan for example, 127M on a tiny island that is 4/5ths mountains

>>958444
I'm Canadian, it's the same thing here but with oil and lumber kek

How's your housing bubble going?

>>958449
fantastic, should only be a few more decades till it comes crashing down and i can buy my first home :^)

>canada could support 1 billion people easily
>if only it wasnt fucking tundra

>>958449
>I'm Canadian
Look m8 I'm not a bigot or nothing, but could you please restrain from coming out of the closet on the Internet.

Also, Canada doesn't even tax its foreign chink land owners. Wtf? Hate money do ya cunt? Fucking pinko soccermum

>>958273
You do realise Australian cities are constantly voted among the best and most liveable cities in the world by many different organisations.

America rarely gets onto the lists at all. Shittest country ive ever been to. I'd rather live in India.

>>958217
Australia was doing well because of huge demand for iron, steel, construction, oil etc. etc. through asia - this slowed down and now because Australia got fucked over on taxes from these huge mining companies (who hardly paid any) and because the gov. didn't bother to diversify or liberate the rest of the market, now that the demand is long gone the economy as a whole is falling apart - the only thing doing well is housing prices and that is because the cash rate is so low to prop up the pathetic economy, and again because foreign investors from china are buying up property.

So now you are in a place where everything is inflated in price, taxed heavily, but the exchange rate sucks and the national economy is dropping quickly. Australia was never very special.

>>958681
>Australia got fucked over on taxes from these huge mining companies (who hardly paid any)
And yet the Gov still wont change it because they're pussies.
"B-but they'll leave? Gina-san"

Australia would do better if we axed all the dead weight in the public service and cut taxes. We are highly over regulated.

Is our economy in the shit? We haven't had a recession for almost 25 years.

But we are over regulated and our politicians are hopeless. Australia will get worse before it gets better.

>>958723

how can we have a recession when the government opens the borders wider each time the economy slumps a little bit? I can't even go to northland shopping centre anymore because i'm afraid a bomb will go off at any time due to all the sand niggers crawling around or the endless smelly fucking indians destroying the clean crisp air or the tidal wave of asians moving into the suburbs

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>Be me Pakistani
>18 year old
>Come to Australia, Sydney for studies.
>Bachelors in Information Systems (Networking)
>Pass with 3.4 GPA
>Get a well paying job
>Salary 72k
>mfw


Its waayyyyyyy better than Pakistan....which is a literal shithole. If only I had a white gf.

>>958723

>Is our economy in the shit? We haven't had a recession for almost 25 years.

This only goes to show that we're severely overdue for one. Canada is already in one, it's not so bad.

We probably should have had a recession in 2008-2009 when commodity prices last took a shit, but KRuddy pumped up dem public works.

> living in a country where a significant portion of the economy depends on whoring off it's natural resources

>>958743
Aha...the politicians do whatever they want when there's a bull market but as soon as a recession hits *bam* everyone realizes how unsustainable the situation has become. America has been going through this for a while since our job/stock/real estate markets have been on a roller coaster. We already know what happens when you let in millions who get on welfare or drive the wage rate lower. AU being a commodity country means they're tied to the secular bulls that last 15-20 years and since the bull is coming to a close, so are the careers of many politicians who "looked good" while it lasted.

There's an old riddle in finance: "Bull markets make money managers look smart. Smart money managers know this." The same goes for politicians including venezuela's maduro/chavez during the oil boom, bill clinton being a "good" president because he was in office during the greatest bull market ever, merkel being chancellor during german hegemony. These people looked good due to circumstances beyond their reach yet the public attributed the success of the nation to their actions. Now it's AUs turn to see how ugly things can get. Think that house of yours is really going to stay at $1mil? So did everyone in the US before 2007. Once the commodity bull dies those home prices are going to crash 80%+ just like the US unless some external influence can prop up prices a little longer(chinese millionaires?).

>>958901
>using the 4.0 gpa grading system
>Australia

Pick one.

>>958901
>trolled softly.

>>959034
>tfw my girlfriends family just paid $1,900,000 for a 3 bedroom apartment

>>959034
Oh man I'm getting excited, I'm moving over asap to catch that crash.

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>>958273

>Lower unemployment than burgerland
>Median wage 3 times higher (More than balancing out the exchange rate
>Better beaches
>92% white

enjoy your meme country

>>958217
>What the hell happened?
Iron and coal collapsed, which is like our entire export market.

>>959776

Its about 55%, enough that it reallllly sucks when the price drops.

>>959782
Yeah well when the rate on 55% of your exports is cut in half that really puts a dent in your purchasing power.

>>958446
With a lot of terraforming we could but even the green parts that desolate have fuck all water

>>959772
>comparing median to averages
This is bait.

>>958217
Fellow Ausfags, how low will the AUD/USD go?

I reckon it will bottom around 0.55-0.6 in 2016 and then start heading back up

>>959890
It sounds like yours is bait. I'd rather triple the median than have a skyrocketed top .1%, seeing as I actually benefit from the former.

Imagine quitting your job and field entirely and still being able to prosper in a new field in ~2 years because every job pays decently like the 1950s. A tripled median blows a higher average way the fuck out of the water.

>>959034
>Think that house of yours is really going to stay at $1mil? So did everyone in the US before 2007.

But anon that house is back up to 1.2 mil now. Please crash again.

>>958446
>read this
>"What? Japan can't have 6x the population of Australia, that's retarded."
>check
>"Fuuuuuuuuuuuuuuuuuuuuuuuck"

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>>958217
>It used to be the most desired place to live in the world

AUSTRALIANS ACTUALLY BELIEVE THIS?
AHAHAHAHAH

>>959947
>Chinese map

That's rubbish. My little sister could draw better in her art class and she's 4 years old.

>>959186
*facepalm*

>>959236
If the markets crash hard enough I'll probably get a house. I figure some areas will have 2 or 3 bedroom homes for 100k AUD which will eventually become 50k USD. Feel kind of bad for the aussies but eh, shit happens. We got over it and I'm sure they'll be fine.

>>959945
In some places this is true but in others, not so much. High demand(close to water, large cities, upper class) areas rebounded well in the US. Others are lagging at 40-50% of their bubble peaks after 5 years. That's better than the 25% value they were fetching in 2010 but considering interest rates below 4% it isn't all that great.

One thing that economists have started to realize is how bad off we are. When 1/3 of young people live with their parents, have non-dis-chargeable debt and lack decent jobs there's no way they'll afford those $500k+ homes. The baby boomers might pay but millennials don't have the capital available. The colleges got to the millennial generation before the mortgage lenders.

>>958217
>What the hell happened? My salary after 2 years in Australia is 90k which is only like 63k in America.
>Yet the same job I do is about 90k in America
>What the hell?
>ForEx, PPP, Cost of Living, you gotta look em up A/US fag

Was planning on moving back to Australia, from Canada, next year. Is this a bad economic decision? Figured I'd get a cert to do care work, like some of my friends. Right now I'm making $14 inc tips an hour in Vancouver. Would be moving back to best city (Perth).

>>960149
Perth is a shithole and is getting hit worst by the commodity fall, especially since the federal government didn't invest a lot into WA during the good times except to make more mines

>>960138
I figure some areas will have 2 or 3 bedroom homes for 100k AUD

Will NEVER happen I am sorry,

At best at least in NSW you will have two options for houses at that size.

Central coast which you could grab a 3 bedroom for the 300-400k area.

Or in the middle of whoop whoop nigger muslim area many long time away from the city where NOBODY would want to live like Cabramatta or further.

At best during a adjustment you could grab a crapshack in the west for 400k.


Demand is massive and won't stop. Even if things are priced to high they will always go right back up till they need an adjustment again.

But don't expect a big drop. I never happens in Australia. Even back in 2009-2010 when there was a property crash. It was very minimal and prices shot right back up.

>>960138
>The colleges got to the millennial generation before the mortgage lenders.
Literally growing up in debt.

btw if you're going to be poor in Australia, you might as well be poor in Tasmania.

Their economy is based on digging things out of the ground and selling them to China. China isn't buying things dug up out of the ground right now. Australia is suffering because of this.

>>960138
>The colleges got to the millennial generation before the mortgage lenders.

Shit man, that's sobering.

Anyways, I agree with you on those points but one thing worries me. I don't think the housing market will pay the consequences for the US economy's fuckup. Chinese investors have been flocking to Boston and now Boston suburbs (we're talking 20-40 miles out), and that was BEFORE China's economy got fucked. A lot more people will be looking to get the fuck out of there, and for some reason the Chinese love real estate. I originally thought it was just Boston but then I heard they're all over Sydney, Toronto, LA, and San Fran housing markets too. I have no idea why they love housing so much, but their willingness to pay 600k for a studio apartment in Boston is the reason why the prices have only been going up.

>>960268
And this is a multinational issue, by the way. There are easily enough wealthy Chinese to affect housing markets in plentiful areas of multiple countries, as there are 58x more Chinese than there are Australians and it's not like their entire country is poor, just that the bottom 80% are super fucking poor. The amount of people in the top 20% wealthy of the Chinese outnumber the combined populations of Germany, France, Spain, Greece, and the entire UK.

>>958389
you know those retards you see who are blatantly schoolchildren and think they are intelligent because they regurgitate basic school level stuff? You're one of them. Reported and enjoy your ban ;)