{"id":635,"date":"2011-09-04T23:57:48","date_gmt":"2011-09-05T03:57:48","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=635"},"modified":"2011-09-04T23:57:48","modified_gmt":"2011-09-05T03:57:48","slug":"the-rolex-economy-macrobusiness-com-au-macrobusiness-com-au","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/04\/the-rolex-economy-macrobusiness-com-au-macrobusiness-com-au\/","title":{"rendered":"The Rolex economy &#8211; macrobusiness.com.au | macrobusiness.com.au"},"content":{"rendered":"<blockquote><p><span style=\"color:#008080;\">My main concern is that frighteningly, the RBA, and probably much of the government, sees Australia\u2019s future as a single bet on mining, and is willing to sacrifice much of the remaining economy for this to happen&#8230;&#8230;. Remember, the minerals will be in the ground if we don\u2019t mine them now, but the decades of production chains elsewhere in the economy are easily destroyed and slow to rebuild.<\/span><\/p>\n<p><span style=\"color:#008080;\">I acknowledge that the RBA has a single tool in its toolbox, but surely the message we should be hearing is that a strong and stable economy is a diverse economy. Quarry Australia is a very volatile and risky place to want to be.<\/span><\/p><\/blockquote>\n<p>via <a href=\"http:\/\/www.macrobusiness.com.au\/2011\/09\/the-rolex-economy\/?utm_source=Media+List&amp;utm_campaign=2d6a294fd9-RSS_DAILY_MAILCHIMP_CAMPAIGN&amp;utm_medium=email\">The Rolex economy &#8211; macrobusiness.com.au | macrobusiness.com.au<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>My main concern is that frighteningly, the RBA, and probably much of the government, sees Australia\u2019s future as a single bet on mining, and is willing to sacrifice much of the remaining economy for this to happen&#8230;&#8230;. Remember, the minerals will be in the ground if we don\u2019t mine them now, but the decades of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/04\/the-rolex-economy-macrobusiness-com-au-macrobusiness-com-au\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Rolex economy &#8211; macrobusiness.com.au | macrobusiness.com.au&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40],"tags":[290,2204,2322,2860],"class_list":["post-635","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","tag-australia","tag-manufacturing-2","tag-mining","tag-rba"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Rolex economy - macrobusiness.com.au | macrobusiness.com.au - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Rolex economy - macrobusiness.com.au | macrobusiness.com.au - the patient investor\" \/>\n<meta property=\"og:description\" content=\"My main concern is that frighteningly, the RBA, and probably much of the government, sees Australia\u2019s future as a single bet on mining, and is willing to sacrifice much of the remaining economy for this to happen&#8230;&#8230;. 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But, absent an offshore catalysing event, that alone won\u2019t make them cut rates. Rather I think that household retrenchment and saving will lower\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":823,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/19\/rbnz-throws-cold-water-on-rba-macrobusiness-com-au\/","url_meta":{"origin":635,"position":1},"title":"RBNZ throws cold water on RBA &#8211; macrobusiness.com.au","author":"ColinTwiggs","date":"September 19, 2011","format":false,"excerpt":"What should be clear...... is that the growth in Australian housing values has been funded, to a large extent, by foreign borrowings, much of it short-term. A key risk going forward is that the banks\u2019 ability to refinance their borrowings rests with the willingness of foreign investors to continue to\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4159,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/22\/warwick-mckibbin-on-australian-interest-rates-and-the-fate-of-manufacturing\/","url_meta":{"origin":635,"position":2},"title":"Warwick McKibbin on Australian interest rates and the fate of manufacturing","author":"Colin Twiggs","date":"April 22, 2012","format":false,"excerpt":"Professor Warwick McKibbin from ANU on the Australian economy, interest rates, the RBA and the fate of manufacturing: http:\/\/youtu.be\/OOzJWCDZ8zg Hat tip to Houses and Holes at Macrobusiness.com.au.","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/OOzJWCDZ8zg\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1341,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/17\/the-platypus-blues-macrobusiness-com-au\/","url_meta":{"origin":635,"position":3},"title":"The Platypus blues &#8211; macrobusiness.com.au","author":"ColinTwiggs","date":"October 17, 2011","format":false,"excerpt":"Ms Luci Ellis, RBA Head of the Financial Stability Department: Indeed, credit booms are very often part of the story in the lead-up to a period of financial instability. We published that assessment in the March and September Reviews. In the wake of that, we have sometimes been asked: how\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1671,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/31\/why-the-rba-should-cut-rates-macrobusiness-com-au-macrobusiness-com-au\/","url_meta":{"origin":635,"position":4},"title":"Why the RBA should cut rates &#8211; macrobusiness.com.au","author":"ColinTwiggs","date":"October 31, 2011","format":false,"excerpt":"Nominal house prices are falling. Not collapsing, certainly. But falling very consistently, roughly 6% peak to trough. 8.5% in real terms. This has had a number of well documented effects including high savings rates, historically conservative levels of retail sales and stalled services sector investment. .....Now, in August, the latest\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8217,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/08\/06\/henry-thornton-the-recession-we-did-not-need-to-have\/","url_meta":{"origin":635,"position":5},"title":"Henry Thornton | The recession we did not need to have","author":"ColinTwiggs","date":"August 6, 2013","format":false,"excerpt":"Henry Thornton expresses his opinion on the grim state of the Australian economy: The Reserve Bank is widely expected to cut interest rates today. The economy is facing such a grim future that one can support such an outcome. But no-one, not even the Reserve Bank, is facing the main\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=635"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/635\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}