For
my readers who may have been sceptical of what I forecast, please look at the
articles in Business Spectator (www.businessspectator.com.au) and reprinted in
the Australian today (15th November
2012). These articles are written by two of Australia’s most prescient and
respected commentators, Alan Kohler and Robert Gottliebsen.
Kohler
writes about the “Small to Medium Business Crisis” and suggests “alarms should be setting off in
Canberra (the Australian capital), and through every bank and big company
boardroom in the country”. “Non-mining businesses are in serious trouble just
as the resources boom ends. There will be nothing to take its place”. How right he is. I founded my last
company, MillhouseIAG, in 1991 in a serious Australian recession and today
feels just like that outside of the resources sector.
Robert
Gottliebsen suggests that energy developments in the United States will be used
to “transform manufacturing
and later transport”. Agreed.
100%. The US will lead the world out of its present funk based on cheap energy,
an innovation and venture capital culture, and the consequent ability to
produce quality manufactures. All assisted by competitive currency devaluations
so that manufacturing exports can thrive.
Australia:
A hollowed out economy and problems ahead in resources. Domestic deflation has
to happen. Brisbane office rents and housing costs should not be higher than
Downtown Manhattan.
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