Ironic isn't it.

For most of my life Oz has been chasing foreign investment. We have gone, cap in hand, trying to get someone, almost anyone, to invest in Oz to help grow our economy, & generate employment

Now, because of demand for just a couple of different coloured dirts, [black & rust coloured] buried in our bush, we are rich enough not to need all that foreign money.

The Irony is that now, we look a safe place to park money, we have it pouring in like a tsunami.

Just like any tsunami, it is doing lots of damage. It has driven our exchange rate to dangerously high levels, making our industry, & agriculture uncompetitive, & even starting to damage the foundation of our attractiveness, our mining industry.

Perhaps our bankrupt government, rather than strangling us with their mining, & carbon taxes, to try to get some money in, should start to tax the inflow of money.

The way it is going, we will have sold the farm, & our financial institutions will be full of foreign money, & we will all be out of work.

Hay Canberra, time for a change of policy.

xenophobic/uninforme3d, and seemingly unaware how much good comes from over seas investment.
Well done Hasbeen

Belly sometimes you worry me.

I am talking about the new process of people, not investing in anything, Just parking their money in Oz, which now seems to be a safe haven.

They are parking it here to avoid the loss of value of capital in the US with their huge money printing program, & the danger of a collapse of the value of the pound & the Euro, WHEN the European common market falls apart.

All foreign investment is no longer a great thing either. When it is to start a new industry, or business it is great.

When it is simply to buy a successful Ozzie business, it is often very bad. All too often this leads to job losses, & the business concerned being bleed dry & failing.

Open your eyes & think a minute before responding mate.

We need foreign investment. Foreign money is not spent so it can fail. [stupid]

hasbeen you concern me here too.
You place great value on your own views,we all do that.
But zero on mine.
I stick to my views, this country, without Foreign investments would be relying still on sheep.
Like it or not we are locked in, no way out, of the world economy.
Part of that is, in my view unwanted but unavoidable, trade in money.
We can not pick what part of International trade we want.
A world free of trading in cash would be Socialism, bet you would not like that.
I truly think, interest rates and other making money out of money came from a group who found a way around their own Bible.
Until we separate from world trade/become a banana repblic, we are stuck with that.

Belly,
Have you read the article about China buying vast areas of land here to feed THEIR people? They also have plans to build the facilities to ship what they produce over to China. Correct me if I'm wrong,but I fail to see how a once off payment for our land can help our economy any better than us growing the produce and selling it to them. If they can implement this scheme, so can we.

Hasbeen,
Let us not forget either we are only in this position of prosperty due to the mining boom, but in fact we have a 2 speed economy - evidence of which is clear to see. I'm with you, and not xenophobic either, just aware of the facts.