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This article was written in August 2011 after a career of many years concerned with Business Development in New South Wales Australia. I've not replaced it because, while the detailed economic parameters have changed, the underlying economic arguments remain the same (and it was a lot of work that I don't wish to repeat) for example:  

  • between Oct 2010 and April 2013 the Australian dollar exceeded the value of the US dollar and that was seriously impacting local manufacturing, particularly exporters;
  • as a result, in November 2011, the RBA (Reserve Bank of Australia) reduced the cash rate (%) from 4.75 to 4.5 and a month later to 4.25; yet
  • the dollar stayed stubbornly high until 2015, mainly due to a favourable balance of trade in commodities and to Australia's attraction to foreign investors following the Global Financial Crisis, that Australia had largely avoided.

 

 

2011 introduction:

Manufacturing viability is back in the news.

The loss of manufacturing jobs in the steel industry has been a rallying point for unions and employers' groups. The trigger was the announcement of the closure of the No 6 blast furnace at the BlueScope plant at Port Kembla.  This furnace is well into its present campaign and would have eventually required a very costly reline to keep operating.  The company says the loss of export sales does not justify its continued operation. The  remaining No 5 blast furnace underwent a major reline in 2009.  The immediate impact of the closure will be a halving of iron production; and correspondingly of downstream steel manufacture. BlueScope will also close the aging strip-rolling facility at Western Port in Victoria, originally designed to meet the automotive demand in Victoria and South Australia.

800 jobs will go at Port Kembla, 200 at Western Port and another 400 from local contractors.  The other Australian steelmaker OneSteel has also recently announced a workforce reduction of 400 jobs.

This announcement has reignited the 20th Century free trade versus protectionist economic and political debate. Labor backbenchers and the Greens want a Parliamentary enquiry. The Prime Minister (Julia Gillard) reportedly initially agreed, then, perhaps smelling trouble, demurred. No doubt 'Sir Humphrey' lurks not far back in the shadows. 

 

 

So what has and hasn't changed (disregarding a world pandemic presently raging)?

 

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Travel

Spain and Portugal

 

 

Spain is in the news.

Spain has now become the fourth Eurozone country, after Greece, Ireland and Portugal, to get bailout funds in the growing crisis gripping the Euro.

Unemployment is high and services are being cut to reduce debt and bring budgets into balance.  Some economists doubt this is possible within the context of a single currency shared with Germany and France. There have been violent but futile street demonstrations.

Read more: Spain and Portugal

Fiction, Recollections & News

Now I am seventy

 On the occasion of an afternoon tea to mark this significant milestone...

 

When I was one, I was just begun;
When I was two, I was nearly new;
When I was Three, I was hardly me;
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*
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But then I was sixty, and as clever as clever;
Wouldn't it be nice to stay sixty for ever and ever?

(With apologies to AA Milne)

 

Hang on!  Now I'm seventy?  How did that happen? 

Read more: Now I am seventy

Opinions and Philosophy

Death

 

 

Death is one of the great themes of existence that interests almost everyone but about which many people avoid discussion.  It is also discussed in my essay to my children: The Meaning of Life on this website; written more than ten years ago; where I touch on personal issues not included below; such as risk taking and the option of suicide.

Read more: Death

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