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The downside of Aussie's Mining Boom.

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The downside of Aussie's Mining Boom.

Unread postby SeaGypsy » Thu 27 Jan 2011, 11:12:47

I am going back to Darwin in a few weeks (Urgh) to work again.
I'm sick of the place, having just spent a few months there after years in much smaller towns.
Last time I was there I was paying $250 a week for the cheapest share unit I could find, and that's the local bargain price. Tonight I am reading the news and Darwin has now become Australia's most expensive capital city. This despite being surrounded by a billion acres of not much and having no water shortage problem.

A new property survey has found Darwin remains the most expensive city to rent a home or unit in Australia.

The RP Data Rental Review shows on average it costs $520 a week to rent a house, and $430 to rent a unit.

It shows Canberra and Sydney are the second and third most expensive cities to rent a house in, costing an average $470 a week.

The report shows rents in Australian capital cities increased by 4.2 percent last year.

RP Data senior researcher said while rent in Darwin did not increase over the December quarter or the last year, the city is still the priciest capital for tenants.

"Quite expensive A either to buy property in Darwin, or B to rent. So it shows there's a bit of a shortage of supply and strong demand to get into properties in Darwin at the moment," Mr Kusher said.

However the review also shows that over the December quarter, rental prices were steady.

Mr Kusher said this showed there were many rent rises to come.


6 years prices have gone up 500%. Wages are stagnant. I will hopefully get out of there almost as quick as I fly in. There is more to this story but right now I will leave it at that. Anyone else in miningboomworldoz.com having trouble making ends meet?

http://au.news.yahoo.com/latest/a/-/lat ... sive-rent/
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Re: The downside of Aussie's Mining Boom.

Unread postby papa moose » Thu 27 Jan 2011, 20:34:15

Yeah, not struggling with rent, mortgage is killing me tho.

Darwin's the only capital i have yet to visit so this is only my impression, the article u posted is discussing high rents, whereas most RE articles in OZ focus on purchase prices. Regardless of how many million acres of nothingness Darwin is surrounded by, if there is a limited number of rentals available but a steady growth in demand... well that's classic Keynes isn't it?
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Re: The downside of Aussie's Mining Boom.

Unread postby SeaGypsy » Thu 27 Jan 2011, 20:59:56

Purchase prices in Darwin are about the worst in Oz also.

There is a mega scam going on with land release.
When the boom took off (coincidentally simultaneously to peak oil) anybody who owned a house free and clear in any Capital City was sitting on a lot of nosh. The next generation were convinced (and mostly still are) that housing prices only move in one direction; thus borrowed to the hilt to play catch up to their parents.

Local government and state government positions are 99.99% filled by the propertied classes. National government authorises these to control land release and prop up the price. Policies like the baby bonus and cash for visas keep the population growing the right amount to balance this collusion between banksters and governments.

Funny how Oz prides itself as being one of the least corrupt countries in Asia, but the biggest swindle is happening right in everyone's face and they can't see it. I sometimes thank god I can see what's happening and I have an Asian wife who is comfortable living in Asia; but I am also sad for my country.
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Re: The downside of Aussie's Mining Boom.

Unread postby papa moose » Thu 27 Jan 2011, 21:20:11

You sound like you have yourself pretty well sorted. What are you doing in Darwin?
It seems that most of your background has been in remote medical services to communities, i've got no idea what that pays like or the satisfaction you may recieve from a job well done but if you are purely interested in a cash injection to finance your asian plans why not throw your cards in with the devil and work as a medic on the rigs or similiar?
"That really annoying person you know, the one who's always spouting bullshit, the person who always thinks they're right?
Well, the odds are that for somebody else, you're that person.
So take the amount you think you know, reduce it by 99.999%, and then you'll have an idea of how much you actually know..."
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Re: The downside of Aussie's Mining Boom.

Unread postby SeaGypsy » Thu 27 Jan 2011, 21:46:27

Most of my Aussie mates here in the PI work in shipping or mining, mostly on a 50/50 roster, which is a good lifestyle. I have been exploiting my long association with aboriginal people to work in a variety of fields. I got out of art in 2007/08 and took up a nursing apprenticeship where I am paid as if I was already qualified. I'm jack of the whole thing at the moment. I have considered going into the more lucrative sectors, but I can't bring myself to it. I would sooner go guerilla farming. I also suspect that long after the mining and RE bubbles burst our government will still be spending billions on aboriginal issues; thus I prefer to keep my foot in the door of the sector regardless of position description.
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Re: The downside of Aussie's Mining Boom.

Unread postby papa moose » Thu 27 Jan 2011, 22:54:15

i see your logic, i'm in the construction side of the gas industry at the moment but usually am more maintenance oriented so that should strech my game a bit beyond the time the big capital investments dry up. After that, well i tried a lot of hats on for size when i was younger so i know i can turn my hand to most anything.
How do you farm gorillas? do they grow on the ground or do you pick them from trees? :)
I assume u would be guerilla farming in OZ, but how would that be an income stream? It's something like guerilla gardening i assume?
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Re: The downside of Aussie's Mining Boom.

Unread postby SeaGypsy » Fri 28 Jan 2011, 04:23:44

Yep. It's bigger than the wine industry,
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Re: The downside of Aussie's Mining Boom.

Unread postby Shaved Monkey » Sat 23 Jun 2012, 18:33:20

Seems as though in the drill baby drill euphoria they forgot about saving some for domestic use ,gas companies would rather sell it to China and Japan on long term contracts
QUEENSLAND gas supplies are so strictly controlled by the LNG companies that a shortage for domestic use such as power generation is emerging, a detailed investigation has found.

The effect of this control is that gas users, like power stations, can't buy gas supplies and the State Government has been warned it has 12 months to fix the problem or face shortages within three years.


http://www.couriermail.com.au/business/ ... 6405852184
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Re: The downside of Aussie's Mining Boom.

Unread postby SeaGypsy » Sat 23 Jun 2012, 22:42:26

Typical of the Australian resources sector, dependent on outside investment.
It has been said that we are only getting 1/8th what the resources are worth, retained in the country. Whilst likely true, there would barely be a mining industry here had we not opened up to foreign ownership.
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Re: The downside of Aussie's Mining Boom.

Unread postby Shaved Monkey » Sun 24 Jun 2012, 03:49:48

Im with Rex Connor
In this portfolio he sought to develop an Australian-controlled mining and energy sector, one not controlled by the mining companies he disliked. Among his plans were a national energy grid and a gas pipe-line across Australia from the North-West Shelf gasfields to the cities of the south-east.

Connor's economic nationalism was popular with the Labor rank-and-file, and the 1973 oil crisis seemed to many to be a vindication of his views. After the 1974 election he topped the Caucus ballot for the second Whitlam ministry. But the flood of petrodollars which accompanied the energy crisis proved to be Connor's undoing.

During 1974 Connor sought to bypass the usual loan raising processes and raise money in the Middle East through an intermediary, a mysterious Pakistani banker called Tirath Khemlani. Because of strong opposition from the Treasury and the Attorney-General's Department about the legality of the loan (and about Khemlani's general bona fides), Cabinet decided in May 1975 that only the Treasurer, not Connor, was authorised to negotiate foreign loans in the name of the Australian government. Nevertheless, Connor went on negotiating through Khemlani for a huge petrodollar loan for his various development projects, confident that if he succeeded no-one would blame him, and if he failed no-one would know.

Unfortunately for Connor, Khemlani proved to be a false friend and sold the story of Connor's activities to the Liberal Opposition for a sum which has never been disclosed[citation needed]. Connor denied the Liberals' accusations, both to Whitlam personally and to Parliament. When the Liberal Deputy Leader, Phillip Lynch tabled letters from Connor to Khemlani, Connor was forced in October to resign in disgrace. The Opposition proclaimed the Loans Affair a "reprehensible circumstance" which justified the blocking of supply in the Senate, leading to the dismissal of the Whitlam government a few weeks later by Governor-General, Sir John Kerr

http://en.wikipedia.org/wiki/Rex_Connor
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Re: The downside of Aussie's Mining Boom.

Unread postby SeaGypsy » Sun 24 Jun 2012, 04:26:09

Connor was wrong about the gas pipeline, which would have been a white elephant. There is plenty of gas a lot nearer to the cities of the south east than the NW shelf.

Image

More detail here:
http://pipeliner.com.au/pipeline_map_of_australia/

The problem isn't the network, or the distribution of remote sites, it is about ownership, development rights and contracts. Connor's attempt at an energy specialist development fund controlled in Australia could have made a pretty huge difference in our countries favor.
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