THE AUSTRALIAN ECONOMY TO EXPERIENCE SLOW GROWTH FOR SOME YEARS

The performance of Australian economy has been exemplary for many years. However, ‘the lucky country’, has been pushing its luck for some time especially with the global economic turmoil. Whilst it seems to be a likely scenario for coming years, some people are still optimistic into thinking the economic growth is here to stay. The reality of it is based on statistics and observations which aren’t in favor of that mindset unfortunately.

Australia has one of the highest living standards and some of the cities constantly appear on the top ‘most livable cities of the world’ lists. This has a great impact on big companies and investors to confidently invest in Australia creating more jobs and having a positive impact on the economy. Although, this stands true, the other side of the coin is those cities are among the most expensive places to set up a home. Not only that, much like any other country, Australian capital cities also have pockets of extreme poverty.

Financial experts have hinted that Australia will not go into an economic meltdown and the disciplined economic policies have had a positive impact. However, the global financial crisis since July 2007 has raised eyebrows as to how Australia will cope accordingly. Despite showing resilience towards negative impact of the crisis, the credit crunch is still ongoing and strangely entered a new dimension. Financial institutions faced liquidity issues, housing and stock markets collapse worsened. As a consequence, people are cautious in investing and are more inclined towards saving due to fear of unemployment in the long run.

In continuation of the unemployment issue, Terry Cook wrote an article published on World Socialist website in November 2013 with statistics showing employment rate falling at a drastic rate in various industries. Automotive giant Toyota axed 450 jobs, Qantas laid off almost 750 staff along with shutting down two aircraft maintenance facilities in Victoria. Such scenarios extend from food processing to consumer electronics and public sector which was severely affected after 12,000 public sector jobs were eliminated.

Some might argue that Australia’s constant economic growth and sustainability is largely associated with the country’s vast mineral wealth and the mining boom is a major contributor. This is in contrast with an article published by The Guardian on August 29th, 2014 that mining industry investment is coming to an end and there are rumors in the air that the entire mining industry will either be outsourced to or completely taken over by China. Not only that, the investment in buildings and structures and in equipment, plant and machinery dropped by 10.9% in 2014. Manufacturing consistently declined by approximately 7% the same year.

Since Australia has been constantly performing on the economic front based on the infrastructure that is already in place, very little has been done in the past in other areas like science and technology which were largely ignored. Until a few decades ago, the internet services were still operating on technology considered obsolete in the rest of the world. The telecommunication infrastructure is still not at par with current technological trends.

Currently, a lot of mainstream providers and sub-contracting companies are actively working on new technology infrastructure to provide faster broadband services which will also influence the economic growth. Although, nothing can happen in a wink of an eye and considerable time and cost investment is required to reach masses. To this date, there are people living in remote areas with limited or no access to the internet. It is reckoned that the National Broadband Network upgrade can take a long time.

In terms of banking, most Australian banks are optimistic about economic growth and are giving a lot of confidence to reduce the element of pessimism and predict the second half of 2015 will see economic recovery. Westpac chief economist, Bill Evans hinted that the annual growth predicted will still be comparatively lower. He also said “This is the tenth consecutive month where the growth rate in the index has been below trend”. The Westpac-Melbourne Institute leading index, which measures the likely pace of economic growth three to nine months into the future, fell from -0.15 per cent in October last year to -0.47 per cent in November.

One of the biggest elements of Australian economy is the retail sector. Lately, the retail sector has performed magnificently well and giants like Coles, Woolworths and Big W, are key players in meeting the supply and demand hence maintain the cost inflation effectively with intelligent planning. There is a big slice of cake that belongs to online retailing which is also one of the foundations of Australian economy.

In spite of the success, the latest sales figures show slowest monthly and annual growth. This turbulence is conceded by The Sydney Morning Herald report dated December 22nd, 2014 in which National Australia Bank reported online sales decline 0.2 percent in October alone and endorsed as slowest online growth recorded overall.

There are two possible interpretations of Australia’s economic performance over the last two decades.

One could be named The Australian Model. This interpretation suggests that Australia has a resilient approach of how to survive in fluctuating global economy when the weight is shifting to Asia. This observations stems from resource rich countries like Chile and Brazil which are now struggling with unemployment and low growth.

The second interpretation is a harsh reality that Australia has purely depended on the luck factor and benefited from temporary global boom. This can be named, The Australian Bubble and it is the most uncertain element to think of considering what will happen if Australia suffers on its own when the luck runs out, so to speak.

It cannot be argued that little things matter. In order for this to work for the economy and people, in a bigger picture, more creative and innovative approaches are required from every participating industry. Education industry should invest more in research to put Australia first and work on plans and strategy to help sustain long term economic growth with the government. The building industry and oil and gas sector is seeing a considerable growth recently and this growth should be maintained with full support by authorities.

Financial institutions should not fear of jeopardizing the current economic system with new disciplined and intelligent policies. If they are happy with the past 23 years of record growth and current status which is not totally dismal, then they should at least work on contingency plans which could be simulated in the current scenario. If successful, those plans can be implemented during any possible credit crunch. Also, careful consideration needs to be taken into account before any offshoring or outsourcing as long term national benefit should take precedence over short term business gain.

It is lucky enough that Australia survived the financial crisis on a global scale but more importantly Australia could gain great long term benefit from economic shift from Europe to Asia. This is not just another stroke of luck but a great opportunity. Australian economy can also benefit immensely from production and more needs to be done on that front and not just investments alone. Couple investment and production with property and employment and Australia will have a very strong foundation for future growth. No doubt, Australia is a lucky country, lucky to have a diverse workforce, hard-working, skilled professionals and entrepreneurs and established businesses. The current economy will be slow for some years but a surprised turnaround cannot be avoided.

 

By: Mansoor Habib

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Malaysian Airlines MH370 – Another political stunt?

**** MUST READ ****

THERE IS ABSOLUTELY NO SHADOW OF A DOUBT THAT MALAYSIAN AIRLINES IS A POLITICAL STUNT BY UNITED STATES / ISRAEL EXACTLY LIKE 9/11.

People should know (the majority of people who choose to follow the media and be blindfolded are idiots of highest level) that main purpose is to cause divide within Asia with long term plan to disintegrate Saudi Arabia and Pakistan is being targeted all the time with sole intention to defame its existence as a menace and to reshape the Middle East. 

DO NOTE that not many people know that around 30-35 Chinese high profile scientists were on-board the Malaysian Airlines. Those scientists were experts in ‘stealth technology’ and USA didn’t want China to work on that. That being said, the flight was actually from Malaysia to China and diverted route has very large and secret American military base in the Pacific Ocean named ‘Diego Garcia’ and especially Indian command posts (funded and highly supported by USA to maintain unrest in the Middle Easst) at Andaman and Nicobar are within the same path of the diverted route. 
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No wonder why from Rupert Murdoch to media and the ‘imposed system’ which stops any sort of enquiry or questioning the US Govt direct involvement is the reason why in this day and age the plane hasn’t been found. The two potential outcomes are;

1- The Chinese scientists will be killed or kidnapped and the plane later crashed into the ocean and later declared that it is found.
2- The plane is not to be found at any cost and similar to 9/11, another plane will be used for a ‘fake’ attack on Israel to justify Israel’s statement of going at war with Iran alone (as Israel and the breast fed Middle Eastern countries depending on USA funding Syrian rebels are losing the war against Bashar government supported by Iran).

United States is now using Bahrain to maintain their stay in Asia to create Shia Sunni unrest to disintegrate KSA and now KSA is alone. It is about time Pakistan should stand firm on its ground and a person like Vladimir Putin to stand opposed and shame the evil of USA/ISRAEL.

Lastly, all this will make sense if you know how CIA got involved with Ukraine unrest and then set a puppet government and then took away the ‘gold’ which Ukraine was enriched with and moved to US Federal Reserve. Now Russia realised this and this is the reason why US is hurting and ignoring the people power and their right to join Russia and still threatening war. So much for US Govt and its discriminatory evil plans.

In short, I summarize this by captioning US Govt politics as ‘The Pied Piper Story’.

Media elements should be strong enough to question USA more than cashing on negative energy to generate more propaganda. There will be a lot more to unravel but I seriously hope it doesn’t take long enough to allow mindset of ordinary people to be poisoned and generate hatred and anger to an all new level. 

By: Mansoor Habib

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Deprivity? or simply lack of courage?

The political nexus between India, USA and Israel is the root cause of all the issues and atrocities suffered by Afghanistan, Iraq, Syria, Palestine, Somalia, Africa and Bosnia…to name a few. Pakistan is the only country that doesn’t accept India as a super-power. India knows this but how could one say this to the Western government and its people who’re already too fat to move from their sofa in front of a fireplace and too cold to think about anything. Perhaps, the people don’t want to know this because media is controlled by Zionist masterminds who are staunch believers in ‘imperialism’ and cannot afford an alternate system. West now knows their system is failing and Islam is the only alternate, respectful, righteous, honest and just system.

To all the Pakistanis living overseas, I have come across not a single individual with the courage to say in favor of Pakistan, come to common terms, explain with wisdom to all that is happening. The media is promoting all sorts of rubbish  to add fuel to fire whilst our nation is busy memorizing latest Hindi songs, watching latest films, playing “antakshari”, dressing orange shalwar kameez and dhotis for newly born.

Pakistan’s image has been tarnished blatantly ever since Benazir was assassinated, even then there was no justification left for me to answer to all question I was flooded with that all this was an external plot. Why? because of the riots and a loss of over $1 billion (USD) in Karachi only. No one tried to stop the other from damaging our own resources. To add to this. RAW agents from India burned approximately 63 railway stations, 150 bogies and 30 locomotives to seclude Pakistan and an attempt to destabilize the railway network. Pakistan’s utterly useless politicians called her a martyr. To me, I can summon her death as “khas kam jahan paak”.

On top of all this, an article has been published on Wikipedia website titled “Terrorism in Pakistan”. There is no justification or proof to anything. The worst part is the enormous gap between people and governments is widening to an extent where an implosion can be foreseen.

For the idiot like Zardari and USA’s overflowing hot-blooded fervid Congressmen, their deception is no surprise to me but when we put ourselves accountable, they do put us to shame.

My question remains unanswered…Are we dead or deprived?

Mansoor H Khan

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Was Hitler right? – Judaism will wage a new World War

I wont write much as his speech says it all…How much of it is justified rests upon the talented and wise minds who can research deeply into it.

The “Export or die” speech of 30 January 1939 is also known as Hitler’s “Prophecy Speech”. The name which that speech is known comes from Hitler’s “prophecy” issued towards the end of the speech:

“One thing I should like to say on this day which may be memorable for others as well for us Germans: In the course of my life I have very often been a prophet, and I usually been ridiculed for it. During the time of my struggle for power it was in the first instance the Jewish race which only received my prophecies with laughter when I said I would one day take over the leadership of the State, and it that of the whole nation, and I that I would then among many other things settle the Jewish problem. Their laughter was uproarious, but I think that for some time now they have been laughing on the other side of the face. Today I will be once more the prophet. If the international Jewish financiers outside Europe should succeed in plunging the nations once more into a world war, then the result will not be the bolsheviszation of the earth, and thus the victory of Jewry, but the annihilation of the Jewish race in Europe!”

To summarize for the muslim world and other under-developed and ignored nations, it would be enough to quote what Hitler said on 22 Feb 1942, “we shall regain our health only by eliminating the Jews”.

The political nexus of USA, India & Israel will fail and deep within it is known to them. Hence any effort using the cheapest and most degraded and shamful manners to prove by waging war against Islam, renamed to War against Terror to justify their actions is a blatant act of vile against humanity and in precise term, a specific race.

Mansoor H Khan

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Surprised on price hikes???…Think again

 

By the time I finish writing this there will be scores of economists debating on various TV channels about the effect of price hikes we have seen recently. This is the latest buzz in town. Iam not siding up with our prime minister about the justification in doing so but for people who say that this has come as a surprise I would like to say … think again…

Let me put it this way ….Although we acknowledged that the price of an oil barrel is on the increase in the United States and deep down we knew that the wave can hit us any time we ignored it till it actually did. All the news channels …including the ones where news is more like an glorified advertisement have been reminding us that oil prices are on the increase elsewhere in the world. If we thought that the government which as effective as the sun in the arctic will come running for our rescue then maybe we were wrong.

PH protest 

(Protest against price hike)

Sales tax cuts have actually helped in curbing the hike to an extent but this is not a long term solution and not all states have brought the price down to a common platform although the increase was same everywhere . What will happen post elections is something we need to think about right now..and not start the debate when prices slowly start creeping up again …..
So now the latest news which is going round is that oil prices are still on increase as they have crossed $150 a barrel do not be surprised that we will be following suit ……maybe we will not see it in oil this time due to the protests …not only India but in United Kingdom as well where lorry drivers have been protesting as well ….but there is a chance prices of commodities may be raised to even out the losses.

India might as well be an IT giant but it is also an agricultural country and a country where more than 1/3rd of the population is below poverty level and the effect of these price hikes will definitely be blatantly visible on the community. I do not have an answer to the question whether the price hike by our government was justified or not but in future if you hear that there is an increase in price of oil or commodities or the decrease in dollar value then do not be surprised if we see an increase in prices or a cut in IT jobs…

 

Padmaja V Santhanam

 

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Terraced Housing

 

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Seven O’clock, and there goes the alarm and for the first time with all the excitement to utilize the full day, I woke up fresh as a daisy. Me and my best friend had a proper English breakfast. Baked beans, fried tomato, scrambled eggs, mushrooms and a couple of potato wedges, which were almost the same size as the beans and it cost us as if we had ordered a full main-course in an Indian restaurant. Well, the prices are more ridiculous when one is on a holiday. After spending a week in Scotland, where majority of the foreigners were in Job Centre rather than the tourist information office, we came back to our home in West Yorkshire.

I had a nice meal and then went straight to bed, dreaming of the lovely greenery, small villages and high rise mountains. When I was about to get engulfed with these dreams, the alarm went off again at six in the morning and with half open red eyed swollen face, I stood up to check and there it was, my neighbours car anti-theft alarm, again. After he bothered to turn it off, I went back to bed dreaming the joys of peace and serenity. After two hours, the doorbell rang and someone bashed the door and I thought to myself, what have I done because it felt like a Police raid. I ran quickly downstairs and it was the postman who asked if I can keep my next door neighbours parcel as no one was answering. “Bloody hell”, I complemented and went back to my bed, eyes wide open thinking “why the hell…(a million questions)”, in short, how our patience is tested day in and day out. Then there it was, my most hated ice-cream van siren. He was here. Obviously by eleven, my neighbours kids started playing in the alleyway and I just couldn’t sleep. I went to the nearby store to buy some milk, after all I only slept for 5 hours – And lastly, to get me cursing – was next door shared accomodation – students playing loud thrash metal music. These are the few gifts of living in a terraced house.

Observing this type of cage based housing only in France, where even the commode and washbasin is a part of living room, this ludicrous idea of similarly looking row of houses with little or no room started after ‘The Great Fire of London’. There is simply no benefit of building terraced houses. Only thing to investigate is who has benefited from this bizarre idea. Browsing through to flush my displeasure, I came across Simon Thurley – the chief executive of English Heritage who stated, “To say that terraced housing causes problems is, to put a technical term on it, bollocks.” With all due respect to Mr Thurley, he forgot that the whole idea was initiated by Nicholas Barbon, whose name was as complicated as his vision of housing – Nicholas Unless-Jesus-Christ-Had-Died-For-Thee-Thou-Hadst-Been-Damned Barbon. A few intellects who have preserved historic elements have another dimension to this – During the industrial revolution in the 19th century – particularly wool. The mill owners built terraced housing for factory workers without contemplating basic needs of people. The first wave of immigration during the 19th century who arrived to UK working in those mills initially thought of these terraced houses as storage warehouses – in fact, it turned out to be their homes with one bathroom in the street for all to share and later one shared in an accommodation of two to four rooms.

The sheer idiocy of this is – to date, they still exist and how big a compromise is this for families or couples in particular, when they have a two or three small bedroom townhouse. Thinking of this fuels my hatred for profiteering councils, building societies and housing associations who charge unbelievably ridiculous amounts of money consequently restricting people to save more to buy a decent house and pay their mortgage off. To me, this is a substandard construction not so famous and fondly looked upon by middle class people – the affluent are out of question as none would even bother to think about living in terraced houses. The argument from us is, take examples from Manchester, Bradford, Birmingham etc where there are a lot of right dangerous or worthless ‘ghettos’ where properties up for sale are one-third the price of average housing – still ridiculous though – but for the interest of people, why the government isn’t strict towards eradicating the crime and crackdown on infringement of morals of society and make it accessible for home seekers to buy at least semi-detached houses in reasonable prices.

It’s a common deep-seeded hatred amongst a lot of people I’ve spoken with. I just don’t get it. Idiots like Mr Prescott, Mr Darling and for a lot of others who’re responsible for the multi-cultural Britain and who speak loudly for ‘change’ and betterment for society cannot control illegal immigration – cannot scrutinize foreigners on the basis of merit and on top making it impossible for the ones living in Britain to live a peaceful life in a decent home.

Mansoor H Khan

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We’re not stupid…or are we?

I am the sort of person who doesn’t dive into data, statistics or accept the information deluged enforcing my inquisitive mind to accept or believe what is been told. So should one be whilst reading this.

Is it true that deception has overcome truth? Deceit has overpowered honesty? If so, why has it? Who’s to blame? I am pretty certain, a lot of people would instantly think of the bad experiences they’ve come across and ask, what is the cure? Well, I believe we are the cure but we’re stupid enough not to realize this or clever enough to ignore it and move on.

We’re so lost in our own worlds that we have prioritized our lives to be peaceful only for our own selves. One day, I was shopping and stumbled across an old college friend, who left his country to pursue a postgraduate degree. We greeted warmly and arranged to meet at his place to remember the good old times. Gladly so, I went, but first question was where do I work? What shifts I work? How much I earn and even asked what my dream job would be. All these questions struck to me and I didn’t want to answer any of those because supposedly, that’s not why I went there. But after a number of meetings with other people, a lot of questions started to flood my mind and I thought I’d try to discover before it crumbles my brain.

Everyone deserves a right to lead a peaceful, dignified life but nature doesn’t reward unless we pass the ups and downs and challenges of life. As Walter Anderson quoted “Life’s challenges are not supposed to paralyze you, they’re supposed to help you discover who you are”, something which today’s generation isn’t aware of or something parents missed to pass on to their offspring.

We are jealous of others success, we have idealized our lives where we cannot compromise on others being ahead or successful than us. We meet our relatives, friends, colleagues and tell them faked stories and cleverly fabricated lies, they believe as if true and being told in the most humble manner. For sure, we’re better than animals because we possess one quality they don’t and that is to use the brain, and it’s a shame we misuse it so intelligently. It’s us who are cunning to gain sympathy when needed and backstab when necessary. The irony is, in both cases when felony surfaces, we staunchly defend its validity. Seldom have we realized how it could have hurt the other because we are stupid to rectify the deep seeded resent towards the other despite the fact there is no apparent hatred. It’s just that it so satisfies our vile isn’t it.

We’ve mostly lost our vanity and perhaps crossed the line of insanity giving birth to a cynic society which will base on individualism, distrust and corruption. Even now we know this but we’re being too stupid to comprehend. Even me, I am not bathed or massaged with milk in India to purify me off my sins, but one thing that sheltered me from harming someone is what my mother said when I was eight, she said “You don’t always have to be in a situation to understand the pros and cons of life. At times you won’t even know your mistake but if you do, put yourself at guilt and never defend your deed. Once you realize, the inner satisfaction is beyond words.”
Yes, we are not stupid to realize, everybody will say so…But I am a bit pessimistic about it.

Mansoor H Khan

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