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  • Location: Camborne
  • Location: Camborne

    Australia admits more migrants than any other big Western country

    And Australians still like them

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    “THE prime reason for the decline in living standards for many Australian workers is our staggering population growth,” thunders Dick Smith, a campaigning millionaire, in an apocalyptic manifesto. He is right about the staggering growth. The number of children the average Australian woman has fell below two in the 1970s and has stayed there. Yet since then Australia’s population has grown by 70%, thanks almost entirely to immigration. Over 28% of today’s residents were born overseas—a higher share than in Canada or New Zealand, let alone Britain or America (see chart 1). The number of newcomers continues to grow. Net overseas migration (a measure of immigrants minus departing Aussies) has nearly doubled since 2000.

    Mr Smith is also right about the decline in living standards, albeit only recently. Wage growth has been dragging along at its lowest rate in almost 20 years, and dipped below inflation earlier this year, meaning that the typical worker is losing purchasing power. Although the unemployment rate, at 5.6%, is low by the standards of recent decades, underemployment is close to a record. Philip Lowe, the governor of the Reserve Bank of Australia, the central bank, concedes that employees “feel like there is more competition” and are worried about “foreigners and robots”.

    Yet, to the frustration of alarmists like Mr Smith, relatively few Australians seem to think the way to boost their incomes is to stem the influx of immigrants. In 2015 Gallup, a pollster, found that Australia was the only big Western country where more people thought immigration should rise (30%) than thought it should fall (25%). Regular surveys conducted by the Scanlon Foundation, which works to integrate immigrants, show that the sense that immigration is too high has fallen substantially since the 1990s. Pauline Hanson, a populist senator who made her name then, warning that Australia would be “swamped” by Asians, has started fulminating about Muslims instead, to little avail. When she recently tried to stir up public opinion by wearing a burqa in parliament, she attracted more ridicule than adulation.

    In part, that is because Australia has a long history of immigration, from Chinese joining the gold rushes of the 1850s and 1860s to Afghan camel drivers helping to explore the outback in the late nineteenth century. It helps, too, that the economy has been growing for 26 years without a recession, and that incomes have been growing faster than the population. In fact, immigrants have had a hand in that: a growing population consumes more goods and services. Recent immigrants have provided labour for a mining boom and, when that petered out, demand for housing and manpower to build it, helping to keep the economy ticking over. Some 600,000 foreigners spent A$20bn ($14.6bn) to attend Australian schools and universities last year, making education the country’s third-biggest export. Many take local jobs and pay taxes after they graduate.

    https://www.economist.com/news/asia/21730004-and-australians-still-them-australia-admits-more-migrants-any-other-big-western-country?fsrc=scn/tw/te/bl/ed/australiaadmitsmoremigrantsthananyotherbigwesterncountry

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    As harve has touched on, re inflation and interest rates, its a hell of complicated set up to understand correctly (nobody does imho), the news always presents it very clean, simplistically and wrong.

    Go Greek strikes Go.... It's not often I support strikes, but in this I do. They are absolutely right that Greece does not need more lending. It can't afford what it owes full stop, they still need t

    Afraid not, old bean; China has been a Communist People's Republic since, when, 1947? Just because it's a Tory government that's doing all the kow-towing makes not a jot of difference...But I bet that

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    • 3 weeks later...
    Posted
  • Location: Camborne
  • Location: Camborne

    It’s an interesting thought that as children in the more ‘advanced’ countries go around with smartphones welded to their arms children in others are slaving to help produce them

    From current cutting-edge technology such as smartphones and electric cars, to the potential high-tech mainstays of the near-future such as home energy storage or electric airplanes, the unfolding electricity revolution means that battery usage is powering up in a big way. Analysts estimate the global market for batteries to be worth $100billion by 2025, with rechargeable batteries expecting to account for $77billion of that figure.

    This rapid growth is resulting in a significant demand for metals such as cobalt, an essential component in the production process for lithium-ion batteries. Recent analysis from the CRU Group, consultants for the global mining, metals and fertiliser markets, forecasts a substantial market deficit in cobalt supply this year with overall demand expected to exceed 100,000 tonnes.  However, with the majority of cobalt being sourced from the Democratic Republic of the Congo (DRC), where governance is especially weak, major concerns are being raised regarding the human rights and environmental standards of the cobalt supply chain.  This is especially concerning given the significant role of small-scale, unregulated ‘artisanal’ mining.  An Amnesty International report from January 2016 found as many as 110,000 to 150,000 artisanal miners to be supplying around 20 per cent of the cobalt exported from the DRC. ‘These artisanal miners: reads the report, ‘referred to as creuseurs in the DRC, mine by hand using the most basic tools to dig out rocks from tunnels deep underground. Artisanal miners include children as young as seven who scavenge for rocks containing cobalt in the discarded by-products of industrial mines, and who wash and sort the ore before it is sold:

    Source: Geographical magazine November issue.

    Exposed: Child labour behind smart phone and electric car batteries

    https://www.amnesty.org/en/latest/news/2016/01/Child-labour-behind-smart-phone-and-electric-car-batteries/

    Edited by knocker
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    Posted
  • Location: Camborne
  • Location: Camborne

    Germany set to pay customers for electricity usage as renewable energy generation creates huge power surplus

    Output from wind turbines forecast to hit record on Sunday

    http://www.independent.co.uk/environment/germany-grids-paying-electricity-customers-renewable-energy-power-surplus-wind-solar-generation-a8022576.html?utm_content=buffer1acda&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

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    • 2 months later...
    Posted
  • Location: Camborne
  • Location: Camborne

    Climate change is triggering a migrant crisis in Vietnam

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    The Vietnamese Mekong Delta is one of Earth’s most agriculturally productive regions and is of global importance for its exports of rice, shrimp, and fruit. The 18m inhabitants of this low-lying river delta are also some of the world’s most vulnerable to climate change. Over the last ten years around 1.7m people have migrated out of its vast expanse of fields, rivers and canals while only 700,000 have arrived.

    https://theconversation.com/climate-change-is-triggering-a-migrant-crisis-in-vietnam-88791

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    • 4 weeks later...
    Posted
  • Location: Camborne
  • Location: Camborne

    Will Cornish mining make a come back?

    Surging Demand for Lithium Spurs Interest in European Mines

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    BERLIN—Rocketing demand and prices for lithium, coupled with China’s stranglehold on supply, are reviving interest in mining Europe’s reserves of the coveted metal some call white petroleum.

    Prices for lithium used in the batteries that power anything from mobile phones to Teslas more than doubled to $21,000 a ton in the past two years. Analysts expect the lithium-ion battery market to surpass $90 billion by 2025 as electric vehicles become commonplace and growing use of wind and sun power forces utilities to invest in large electricity storage facilities.

    But while European businesses use 25% of the world’s lithium, a group of Chinese companies has secured a potential stranglehold on the Australian and South American mines that produce almost all the world’s battery-grade metal. That has sent a small group of pioneers on a race to reopen European mines where the conditions that gave rise to such lowly metals as tin have left lithium-rich rocks and hot brines.

    https://www.wsj.com/articles/surging-demand-for-lithium-spurs-interest-in-european-mines-1523611800?mod=e2tweu

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    • 4 months later...
    Posted
  • Location: just behind Epsom Racecourse and the center of York
  • Location: just behind Epsom Racecourse and the center of York

    This week saw the 10th anniversary of Lehman Brothers collapse. One of the lesser known facts is that in the 10 years since in America there has been 4.8 million less children born than expected mainly in the group who were 20 somethings at the time. If this trend has also been followed in other developed economies like our own what will be the consequences in a further ten years time when we would start to expect those children to be entering the workforce. The consequences for our economy could be dramatic. 

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    Posted
  • Location: just behind Epsom Racecourse and the center of York
  • Location: just behind Epsom Racecourse and the center of York

    This week saw the 10th anniversary of Lehman Brothers collapse. One of the lesser known facts is that in the 10 years since in America there has been 4.8 million less children born than expected mainly in the group who were 20 somethings at the time. If this trend has also been followed in other developed economies like our own what will be the consequences in a further ten years time when we would start to expect those children to be entering the workforce. The consequences for our economy could be dramatic. 

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    Posted
  • Location: Stoke Gifford, Bristol
  • Location: Stoke Gifford, Bristol
    3 hours ago, jonboy said:

    This week saw the 10th anniversary of Lehman Brothers collapse. One of the lesser known facts is that in the 10 years since in America there has been 4.8 million less children born than expected mainly in the group who were 20 somethings at the time. If this trend has also been followed in other developed economies like our own what will be the consequences in a further ten years time when we would start to expect those children to be entering the workforce. The consequences for our economy could be dramatic. 

    Yep.

    Today's workers pay for today's state pensions received by today's pensioners.

    If the UK economy is short of workers in 20 years time there wont be enough tax revenue to pay for the welfare state, other than by raising taxes substantially....like really substantially. Today's austerity issues will seem trivial, by comparison.

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    Posted
  • Location: Hanley, Stoke-on-trent
  • Location: Hanley, Stoke-on-trent
    1 hour ago, Bristle boy said:

    Yep.

    Today's workers pay for today's state pensions received by today's pensioners.

    If the UK economy is short of workers in 20 years time there wont be enough tax revenue to pay for the welfare state, other than by raising taxes substantially....like really substantially. Today's austerity issues will seem trivial, by comparison.

    If only there was some sort of organisation you could join that could allow young workers to move around, filling jobs that need doing.

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    Posted
  • Location: just behind Epsom Racecourse and the center of York
  • Location: just behind Epsom Racecourse and the center of York
    20 minutes ago, davehsug said:

    If only there was some sort of organisation you could join that could allow young workers to move around, filling jobs that need doing.

    or one you shouldn't leave because of your shortermism

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    Posted
  • Location: Beccles, Suffolk.
  • Weather Preferences: Thunder, snow, heat, sunshine...
  • Location: Beccles, Suffolk.
    2 hours ago, Bristle boy said:

    Yep.

    Today's workers pay for today's state pensions received by today's pensioners.

    If the UK economy is short of workers in 20 years time there wont be enough tax revenue to pay for the welfare state, other than by raising taxes substantially....like really substantially. Today's austerity issues will seem trivial, by comparison.

    Another Bankers' Bonanza, one suspects?

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    Posted
  • Location: Burton-on-Trent
  • Location: Burton-on-Trent
    35 minutes ago, davehsug said:

    If only there was some sort of organisation you could join that could allow young workers to move around, filling jobs that need doing.

    Yeah lets keep the demographic pyramid scheme going indefinitely, what could go wrong! Take the hit now and learn to live with an economy with a maintained population or be stuck in an economic system that needs constant population growth to work.

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