Australian Floods Devastate Queensland; heading towards NSW and VIC

[Phoenix]

On a high note with all the above inflationary factors interest rates will probably stay stable.[/I]

...hows that gonna work...

People will still be employed, Queensland will see another building (reconstruction) boom, consumers will have to pay more for food, fuel, power and services. Some mining equipment and other industrial equipment will need to be imported from overseas...all of this will put pressure on the Australian economy...interest rates will go up I reckon.

[Risto the Great]

There will be upward pressure for interest rates.
But we are still running a 2 speed economy ... aside from mining, very little else is happening.

[Phoenix]

There will be upward pressure for interest rates.
But we are still running a 2 speed economy ... aside from mining, very little else is happening.

Building seems to still be ticking over nicely here in Victoria...the industry has enjoyed over a decade of prosperity, I've never seen so many cashed up bogans...

[fyrOM]

Building seems to still be ticking over nicely here in Victoria...the industry has enjoyed over a decade of prosperity, I've never seen so many cashed up bogans...

YouTube - Nobody likes a Bogan

[Risto the Great]

Building seems to still be ticking over nicely here in Victoria...the industry has enjoyed over a decade of prosperity, I've never seen so many cashed up bogans...

Adelaide has also had a very good 10 years. Clients in the industry are noticing some slowing down but there is simply too much demand for this to be an ongoing issue.

[Big Bad Sven]

Building seems to still be ticking over nicely here in Victoria...the industry has enjoyed over a decade of prosperity, I've never seen so many cashed up bogans...

Its even more worse in WA.

We have cashed up bogans who are on 200K a year, making more then some tertiary educated people. I can honestly say i have met over 30 people who used to be accountants/IT/Pharmacists etc and have jumped ship and gotten a trade or even done labour work for the “easy money”.

Thats one thing Australia has done right, well the unions that is. The unions have protected tradesman jobs and stopped jobs from being outsourced to cheaper countries, or stoped companies hiring cheap labour from other countries. Yet ironically the accounting/IT/Pharmacy industries are all over saturated and heavily outsourced.

[Phoenix]

Its even more worse in WA.

We have cashed up bogans who are on 200K a year, making more then some tertiary educated people. I can honestly say i have met over 30 people who used to be accountants/IT/Pharmacists etc and have jumped ship and gotten a trade or even done labour work for the “easy money”.

Thats one thing Australia has done right, well the unions that is. The unions have protected tradesman jobs and stopped jobs from being outsourced to cheaper countries, or stoped companies hiring cheap labour from other countries. Yet ironically the accounting/IT/Pharmacy industries are all over saturated and heavily outsourced.

I think the mining boom has inflated tradesmens wages quite considerably for those working in that segment of the economy, those tradesmen not employed in the mining or building industries have seen their wages barely keeping above inflation.

Overall the union movement has been weakened quite significantly and the Australian manufacturing sector continued to decline as more jobs move offshore.

[Risto the Great]

Really interesting interactive photos of the floods:

http://www.abc.net.au/news/infographics/qld-floods/beforeafter.htm

It’s a set of pictures that show the flood waters over various places in Brisbane. Use your mouse over the pictures to see the difference between before and after the floods.

[fyrOM]

Its ridiculous to impose a levy on Every Australian to fix up Queensland.

Firstly it is a state problem.

Their not doing me any favours by dramatically upping my food and petrol prices so I’m paying extra for nothing.

When or if Queensland makes a mint out of their tourist industry I don’t see a cent of it come straight to me. Economic benefit is either two way or no way. But what about the share you or your pension fund has in Queensland businesses…exactly right its my investment getting a return in good times and taking a hit in bad…no one in Queensland reimburses any losses suffered on investments in any bad year in the past so why should I cover their losses now.

Secondly uninsured people can get stuffed.
If any of my properties gets destroyed for whatever reason and I had no insurance the state or federal government would tell me to go and get stuffed and that I should have had insurance. I pay high premiums every year because I value my investments and believe in insurance. Yet now the government want me to bailout dickheads who either didn’t have insurance or had the wrong type…yeah right as if they cant read English…or could not get insurance in the first place because the land they built their house or business or farming field is in a known flood pain just waiting for a disaster.

Didn’t get insurance…cant afford it or to stupid to know to get insurance…tough

Got the wrong type…don’t believe you…if your house burns down by itself you get a new house but if its destroyed by a flood knowing your in a flood plain donations and government bailout will cover it so why pay higher premiums for years just in case a flood happens.

Could get insurance in the first place because your in a flood plain…buying a property in a known flood plain is a known risk and your choice…live with it.

Basically Not My Problem. Gillard is on notice.

[julie]

I dont think its diplomatic calling people stupid and ignorant for not having insurance. Stupid is the assumption flood cover is damaged when its classified as "an act of God". Especially seeing how most of that state has river/creek systems. Dont assume insurance pays out in that instance. It is stupid and ignorant to call people names when they are in a state of mourning , everyone has been touched by some way, and its a bit un australian of you to be so harsh
Food/petrol/interest rates will go up. As a result of the government cashing in on the events.

[Risto the Great]

I sit somewhere between OM & Julie.
Sure, we need some compassion but we also need to accept that people get cheap insurance for a reason. It usually imputes a higher risk on the insured. Queensland was almost a separate country a few years ago and was enjoying its prosperity whilst the rest of Australia was suffering. It will benefit greatly from the rebuilding process and I am not in favour of a levy to fund it.

[makedonche]

OM
Eloquently phrased, agree entirely!
Julie
I don't disagree, but it's hard to have compassion for people who knowingly put themselves at risk and don't do anything to minimize that risk.
RTG
Spot on - less the compassion!

[fyrOM]

Stupid is the assumption flood cover is damaged when its classified as "an act of God". Especially seeing how most of that state has river/creek systems. Dont assume insurance pays out in that instance. and its a bit un australian of you to be so harsh

Julie I understand your sentements I like yourself grew up in Australia and remember and miss the help your fellow neighboure Australian attitude.

Sadly gone are those days and not only insurance companies but banks council utility companies and even damned phone companies ect will get technical on you and try to screw you.

Even though none of my properties are anywhere near a creek or river I not only always opt for flood cover but even specifically ask what does flood cover mean in your policy…1. is excessive rain accumulating on my property covered or 2. a blocked drain in the street causing a backflow covered or 3. if even miles away a river overflows covered and I ask the customer service person to point out exactly which section and clause covers each of these three events and I if they say they don’t know I ask to speak to a supervisor or higher until I get an answer.

I know insurance costs a fortune…just recently I paid over 1600...and if times get tough you try to find cheaper alternatives but I always ask myself even in the unlikely event if something happened would I be prepared to loose years of saving and investing in one foul swoop. I would rather cut elsewhere in my budget than skimp on insurance.

[Phoenix]

Julie I understand your sentements I like yourself grew up in Australia and remember and miss the help your fellow neighboure Australian attitude.

Sadly gone are those days and not only insurance companies but banks council utility companies and even damned phone companies ect will get technical on you and try to screw you.

Even though none of my properties are anywhere near a creek or river I not only always opt for flood cover but even specifically ask what does flood cover mean in your policy…1. is excessive rain accumulating on my property covered or 2. a blocked drain in the street causing a backflow covered or 3. if even miles away a river overflows covered and I ask the customer service person to point out exactly which section and clause covers each of these three events and I if they say they don’t know I ask to speak to a supervisor or higher until I get an answer.

I know insurance costs a fortune…just recently I paid over 1600...and if times get tough you try to find cheaper alternatives but I always ask myself even in the unlikely event if something happened would I be prepared to loose years of saving and investing in one foul swoop. I would rather cut elsewhere in my budget than skimp on insurance.

Being over-insured is every bit as bad as being under-insured...

OM, have you inquired about insurance against an invasion from outer space, maybe you wanna make sure all of your bases are covered...seeing as you have an unhealthy (read lunatic) fascination with the subject...

[fyrOM]

Phoenix you and a few others have the unhealthy…read lunatic…habit of attacking those who you see as not totally agreeing with you on other points so you grasp at whatever seems like something you can attack them on but in you zeal you grasp at anything even those thing that don’t have a leg to stand on and are obviously wrong. By doing this you betray yourselves in two ways
1. That you are of a mindset that likes to attack people who disagree with you ie you suffer the delusion you are always right ie sam bendisan
2. Your stupidity on commenting on things without doing your homework ie you just rubbish on ie samo si tropas. Sometimes it is better to remain silent than to open your mouth and remove all doubt about how stupid you are.

Do you watch the news or read newspapers even on a casual basis. If you did you would have heard reports that it is estimated at least half the properties in Queensland affected by the floods…just stop and think how big that number would be…either have no flood cover insurance or insurance which only covers them for storm cover which as it is claimed they did not understand and realise it did not cover them for the type of floods as occurred in Queensland. Now there are some calling for more simple English to be used in the wording of insurance policies. Given this is the case is the guy who did bothered to check if he was properly covered in a better position or is the guy who assumed he was properly covered when he read storm cover but wasn’t…what good was it to him to be paying good money on an insurance policy every year only not to be covered.

Did your dad ever say to you when growing up if you do not understand something ask rather than just assume and get it wrong. In my previous post I outlined the crucial importance of asking 3 key question in regards to flood cover and all you can do is criticise me for supposedly being over concerned…your words read lunatic…for bothering to get clarification on my policies. Does this sound right to you or do your comments say more about you than me.