The Forum > Article Comments > Does Australia have a plan B? > Comments
Does Australia have a plan B? : Comments
By Chris Lewis, published 25/10/2010High levels of household debt in a world of competitive currency devaluations means the future isn't assured for Australia
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Vanna, you seemingly have no idea as to what is happening in WA.
200 billion $ worth of mining developments going on right now.
1 million tonnes or so of iron ore a DAY. The gorgon gas project
alone, is costing 45 billion$ to build. Then we have the woodside
projects and all the rest. Gold, uranium, copper, aluminium,
salt, you name it, we mine it.
Yes, coal is a large export. If we did not have it, we would have
a lower Australian $, more unemployed, so there would be a reason
to develop other industries and workers might be keen. That is not
the case right now.
*I don't think they would ever be released from jail, but in Australia is is common practice to use taxpayer funding to import.*
Well luckily we don't live in China then. In fact they are now copying
our market economy model, for they were starving beforehand.
The role of taxpayers money is not to prop up backward or ailing
industries, that money should be spent wisely. Otherwise all it
does, is drag efficient exporters down, with higher costs and
shoddy goods.
There are plenty of examples of the stockmarket providing mega
millions of $ for developing Australian technology, in things like
biotechnology. Most of the time they land up as dusters.
Ambri, Metabolic, Intellect. Just three of a host of companies
that had huge amounts of investment capital thrown at them to
develop Australian technology. Investors lost their shirts.
Now you want taxpayers to lose their shirts too.