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Australia's economic boom runs out of gas.

A single gas facility explosion has brought Australia's economic boom to a halt and many thousands of businesses face bankruptcy in the next 6 months. Despite numerous national infrastructure, terrorism risk and other well funded studies, reports and committees the government has failed completeley to ensure integrity of the country's infrastructure. Thousands of workers are being laid off and the ramifications will impact the whole country. It will take several months to restore supply.

No need for terrorists in Oz, incompetence is doing the job for them. Obviously you ask how did 20% of the national economy depend on a single tiny piece of infrastructure worth a few million dollars? Australia's economy is definitely going off the rails as the result of a a decade of entrenched incompetence and corruption. It's all coming home to roost in Australia and we'll see more effects in the coming months.

Forced unemployment in a state where wage levels have been high will have an impact on property prices. Real estate has been very hot in Western Australia with the high wages available in and benefits flowing from the mining boom. Part-time workers are seeing alternate days of work and full-time workers are being laid off. Production of value added goods will grind to a halt as will mining post processing of bauxite into aluminium, titanium, production of explosives, fertiliser etc as they all require high energy input. Energy is being diverted to domestic use and demand is at a peak in midwinter.

If it weren't for a couple of mines shipping raw, non-value added materials overseas at astonishing rates, the Australian economy would be third world. Lets hope nothing goes wrong at the mines, if they can even continue to operate. Certainly the West Australian government has blown it and it'll take more than hot air to get them out of this one. Meanwhile if you are traveling to Perth, take towels and sheets because the laundries can't get gas, you can help the national economy and save jobs by taking a cold shower - something the politicians should have done long ago.

 

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