[cobran20]

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[cobran20]

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[boz]

wow, net foreign debt up 8.6% is massive, I wonder where is that coming from, it doesn't look coming from latest account deficit, it doesn't look like currency adjustment either, may be it is more like a drop in australian investments abroad. any other idea?

[wulfgar]

boz, on 06 December 2011 - 11:55 AM, said:

wow, net foreign debt up 8.6% is massive, I wonder where is that coming from, it doesn't look coming from latest account deficit, it doesn't look like currency adjustment either, may be it is more like a drop in australian investments abroad. any other idea?

Probably everything to do with the AUD falling from 110 cents. Remember our debt is in hard currency, nobody is stupid enough to denominate it is Aussie funny money.

[Bernard L. Madoff]

boz, on 06 December 2011 - 11:55 AM, said:

wow, net foreign debt up 8.6% is massive, I wonder where is that coming from, it doesn't look coming from latest account deficit, it doesn't look like currency adjustment either, may be it is more like a drop in australian investments abroad. any other idea?

http://www.australiandebtclock.com.au/

[boz]

Bernard L. Madoff, on 06 December 2011 - 01:11 PM, said:

http://www.australiandebtclock.com.au/

So, are you saying it is 686 bil$ and not 848bil$ like from AK table?
I usually trust AK data, may be was a typo, ABS website should have the correct answer. I don't think a drop from 1.1$ to 1$ would make a big difference

[boz]

boz, on 06 December 2011 - 08:21 PM, said:

So, are you saying it is 686 bil$ and not 848bil$ like from AK table?
I usually trust AK data, may be was a typo, ABS website should have the correct answer. I don't think a drop from 1.1$ to 1$ would make a big difference

Ok, I look into it at ABS
so the answer is 740.5 bil$ for net foreign debt, the 848.3 doesn't include the Australia's net foreign equity liability (I am not even that sure what that mea), so the debtclock website need to update their data. SO AK is somewhat right.
I was thinking that the jump in liabilities is due to mining industry borrowing from overseas to fund the investments, the problem if commodity boom deflate is that the debt will stay, I also think the lending from business wouldn't be all in RBA data when taken in US$ like mining industry usually do.

[boz]

I was looking how Australia compare on the net international investment position and from the table on wikipedia lost a couple of places (gone behind Poland and Slovakia, just a bit better the the PIGS (excluding Italy). Actually the table on wiki is a bit outdated and doesn't list country like Bulgaria, Latvia, Hungary that have numbers worse then australia (but not slovakia with it's latest data), also Spain latest data is much better at 87% and all PIGS are improving significantly thanks to austerity measure that reduce internal consumption (another fact that you don't read on Anglo media because doesn't prove their points on euro and austerity...

This post has been edited by boz: 06 December 2011 - 09:17 PM

[Ugg]

I saw on lateline business the other night they mentioned the fall in US unemployment, saying that 120,00 jobs were created. Very briefly, as if just a side note, they mentioned that 300,000 gave up looking for work. A positive spin for sure, and reflected in AK's statistics.

On the same program they revisted predictions 5 economists had made at the start of the year on where we would be now. Each economist made 20 predictions. 5x20 =100 predictions in total. Result: Not one got any correct!! Epic fail.

http://www.abc.net.a...12/s3381753.htm

and I have always thought Ticky is a misguided optimist

[savagegoose]

Ugg, on 07 December 2011 - 02:24 AM, said:

I saw on lateline business the other night they mentioned the fall in US unemployment, saying that 120,00 jobs were created. Very briefly, as if just a side note, they mentioned that 300,000 gave up looking for work. A positive spin for sure, and reflected in AK's statistics.

On the same program they revisted predictions 5 economists had made at the start of the year on where we would be now. Each economist made 20 predictions. 5x20 =100 predictions in total. Result: Not one got any correct!! Epic fail.

http://www.abc.net.a...12/s3381753.htm

and I have always thought Ticky is a misguided optimist

yeah saw the same end of year show..

some predictions are a little harder than others , like the ponts for the market, there is actually a few hundred individual points to guess from
4500 -5500 is 1000 variables.,or 999 chances to get it wrong.
where as interest rates only seem ot go up or down in 0.25% increments, and the whole set of options available was around 1 in 8 , or 7 in 8 of getting it wrong.
yet they managed. all 5 getting the 1 in 8 change wrong is monumental. even a coin would have done better.

[cobran20]

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[cobran20]

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[cobran20]

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[cobran20]

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[boz]

cobran20, on 13 December 2011 - 08:24 AM, said:

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Love AK when he get cheeky and strategically exclude country from the unemployment chart when they don't prove anything...

[cobran20]

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[boz]

The market value chart of the greek debt is quite interesting, so, now greece have only 50 bil euro of debt? that doesn't look like unsustainable once they get the budget in order

[cobran20]

boz, on 14 December 2011 - 11:16 AM, said:

The market value chart of the greek debt is quite interesting, so, now greece have only 50 bil euro of debt? that doesn't look like unsustainable once they get the budget in order

It's only a flesh wound...

[cobran20]

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[cobran20]

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