Eastern Australia “In Deep Recession”, NSW & VIC Manufacturing “Stuffed”

14 Jun

What everyone with boots planted firmly on the ground already knows.

Which is exactly why our policians and mainstream media (seemingly) do not.

From Business Spectator:

Eastern Australia is in “deep recession” and the NSW and Victorian manufacturing industries are “stuffed”, the head of Linfox Logistics says.

Fresh from making a $68 million property acquisition in the mining boom state of Western Australia, Linfox Logistics chief executive Michael Byrne has dismissed suggestions the nation is dealing with a two-speed economy.

“It’s a parallel universe that bears no relation to anything else on this planet,” he told an American Chamber of Commerce event in Sydney on Friday.

If you look at the world, eastern Australia is in deep recession, in my view, as is New Zealand.”

WA was driving the national economy and Asia was a “different place again,” Mr Byrne said.

If we didn’t have mining, Australia would be like Portugal, Spain, maybe Greece and Ireland,” he said, referring to European debt problems.

Mr Byrne is right.

Referring to our near-total dependence on selling “red and black rocks”, Barnaby has warned the spendthrift Green-Labor Alliance … “God help you when the prices go down”.

God help us all.

Barnaby is right.

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2 Responses to “Eastern Australia “In Deep Recession”, NSW & VIC Manufacturing “Stuffed””

  1. Kevin December 12, 2011 at 5:00 pm #

    Australia is hanging on to a China thread,,, The world is in turmoil and no one hardley seems to notice. The main problem is too many people in this world ,exspecting to hich a free ride,, it aint gonna happen.

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