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Cosmoterios

19,072 Posts.

2666

06/05/22

09:08

Post #: 61242618
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Originally posted by moorookamick: ↑

Mate, look in our own backyard.

We are supplying China with IO & Met Coals, the core of its industrial needs.
Add to that , LNG, copper & base metals and a host of commodities from
which China has cherrypicked.

This is why the Minerals Council of Australia & the BCI are lying low
this election because both of our major Political Parties are out of
step with our economic reliance on China.

Its a much better vote catcher to threaten China with War over Taiwan
than to consider Australia's economic interests.

Our combined Governments' debt is $1.5 Trillion and likely to be
$2.5 Trillion within 5 years at the rate we're going .
Add to that an probable Global Recession & interest rates
at least doubling over the next 5 years.

IMO our biggest challenge over the next 5 years is, as a country,
to not go Bankrupt

Just consider $2.5 Trillion debt by 2027 @ 6% bond rate:
that's $150 Billion a year of interest alone !!!
We cant afford half of that, IMO.

We are a commodity economy driven by world demand
for our exports and that has been led by China over the past 20
years. Even John Howard recognises that !

Expand

the way things are going, we might not get another 5 yrs of normality

both sides are now entrenched in their political objevtive of defeating the other side militarily
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