Profile

Scrapbook photo 1
Scrapbook photo 2
Scrapbook photo 3
Scrapbook photo 4
Scrapbook photo 5
Katyissa B
Works at Business Enterprise/Study
Attended St. Aloysius Catholic Girls Secondary College, North Melbourne
Lives in Melbourne Australia
255,498 views
AboutPostsPhotosVideos

Stream

 
The Victorian Gold rush mined more gold than that of the Californian Gold rush
Dearest +Wikipedia  The stats should declare that Melbourne was transformed into THE world's largest and wealthiest cities during the gold rush of the 1850s. Melbourne became one of the great cities of the British Empire and the world. See my correction notes- 

In summary the true statistics are as follows;
- In Victoria from 1851 to 1896 the Victorian Mines Department reported that a total of 61,034,682 oz ($Trillions$) of gold was mined in Victoria.
- In California from 1848 to 1855 modern estimates by the U.S. Geological Survey are that some 12 million ounces[78] (370 t) of gold were removed in the first five years of the Gold Rush. By the mid-1880s, it is estimated that 11 million ounces (340 t) of gold was mined. The total production of gold in California from then till now is estimated at 118 million ounces (3700 t). Calculated as at 1848 to 2014, that is a massive inconsistency as regards statistics so therefore during the Victorian gold rush between 1851 to 1896 the total of 61,034,682 oz (Trillions of $$$$) of gold that was mined in Victoria made Melbourne Victoria THE wealthiest place on the Earth for that period, and the gold exported to Britain in the 1850s paid all of Britain's foreign debts. That is huge considering that Melbourne city was founded on 30 August 1835 and the settlers were living in tents, I mean the city and townships were being built and for that amount of money to be generated was phenomenal. 

Melbourne is built on GOLD.

The gold rush was a revolutionary event and reshaped Victoria, its society and politics.

Victorian Gold Rush - http://en.wikipedia.org/wiki/Victorian_gold_rush

Californian gold rush - http://en.wikipedia.org/wiki/California_Gold_Rush

FACT!


#melbourne #australia #melbournevictoria   #worldcities #goldrush   #thereisstilllotsofgoldinvictoriajustgottofindit   #melbourneisprobablybuiltongold #thereisamassivechance #victoriamusthavelotsofgoldyetbebefound #wellihavetoexplore
#california   #gold   #mining #wikipedia   #wikipediailoveyoubutseriouslygetithappeningandcorrectthestatstoreflectthetruestats  
3
Add a comment...
 
Aussie Bright Idea Saves On Energy Bills 
Old engineering school chums and now Melbourne-based entrepreneurs Chris Duffield and Danny Bishop have a simple plan to save plenty on lighting bills.

Their start-up Organic Response is a wireless lighting control system based on a sensor device, smaller than the size of a matchbox, integrated into light fittings.

As the sensors detect human presence within a building, an infrared signal is sent to nearby devices, allowing the lights to adjust to occupancy levels, saving energy.

The business plan is just as clever, based on forming strategic alliances with lighting manufacturers, who have existing channels to market.

Under the guidance of Deloitte, the partners are looking to raise $5 million in ­capital to scale up their operations, with an eye to hitting sales of $221 million, or 6.5 million units, within four years.

Deloitte partner Xander Alpherts says Organic Response “disrupts” the lighting control industry based around installing a costly, separate system.

“The market opportunity is large. These guys have the first-mover advantage in that space and they need to capitalise on that.”

Co-founder and technical director Danny Bishop is the brains behind the smart devices. Already he has an eye on the appeal of the innovation for “big data” players, who are eager to get access to ­connected places and spaces.

“What we do is place a large number of sensors quite densely around the built environment,” he says.

“They share information and create an occupancy information cloud. That information has an incredibly real value ­proposition to other services like the building management service.”

Full article - http://www.afr.com/p/entrepreneurs/bright_idea_saves_on_energy_bills_QEqs56jMudfMJNHsFQQ6FI?utm_source=outbrain&utm_medium=cpc&utm_campaign=Outbrain_cpc  

#australia   #startup   #energy   #energyefficient   #investing   #invention   #world   #aussieaussieaussieoioioi   #brightidea   #genius   #geniushour   #organic   #millionsandmillions   #tesla   #massivepotential   #melbourne   #melbournevictoria  
22
2
Dan Wright's profile photoiSparkTube.com's profile photoHai Vu's profile photoKatyissa B's profile photo
2 comments
 
Yes, and using wireless for energy, such a genius idea.
Add a comment...

Katyissa B

Shared publicly  - 
9
Hai Vu's profile photoKatyissa B's profile photo
3 comments
Hai Vu
+
2
3
2
 
Yes there are some bats here in Canada, though they are much smaller than your flying foxes. They're more like mice with wings, very cute :-) 
Add a comment...
 
Melbourne City, Collins Street and the new extension to Melbourne City The Docklands with major construction happening check it out ;) On my daily walks I just take random photos on my way home now that my phone camera works.

#melbourne   #melbournephotography   #melbournevictoria   #melbournecbd   #australia   #australianphotographers   #docklands   #love   #construction   #world   #worldcities   #cityscapephotography   #citiesshare   #cities   #australianphotography   #aussieaussieaussieoioioi   #melbournecity  
20
Frederica Mussolini's profile photoHai Vu's profile photoKatyissa B's profile photolori cubela's profile photo
9 comments
 
I have been to Melbourne before - adored it! But that was years ago, before I was aware of the goodosity of pierogis!!!! Please make me a map with all the pierogi sellers marked out for me please?????

You keep getting stopped in the street, coz your sexy as hell!! - DERP!
Add a comment...
 
Orecchiette Pasta Recipe ( How To) With photo instructions
Ingredients 
125gr Durum Flour
125gr All-Purpose Flour
130gr Water
8gr Olive Oil 

This pasta will definitely hold more of the sauce yummo 

Directions:
01 Combine the 2 type of Flours in a bowl. mix with a fork and transfer to a work surface. 

02 Make the classic volcano shape in the Flour and add the Water, little by little, while kneading. 

03 Add the Olive Oil kneading until the dough is smooth. 

04 - Cling wrap the dough and let it rest for 15 minutes. 

05 Cut a small ball of dough out and roll it into a rope, keeping the main dough wrapped. 

06 Cut the dough rope into 1cm pieces. 

07 Using your fingers, a spoon or a knife, give each piece the classic shell shape. Then, turn them inside out, placing them on a floured surface. Don't make the shells too thin. 

08 Cook the Orecchiette Pasta in salted water for about 5-10 minutes. 



Notes:

The Orecchiette Pasta can be stored in the fridge for about 4 days, or in the freezer for 2 month. 

The drier they are, the longer they'll need to be cook.
Orecchiette Pasta ( How To... )

METHOD HERE: http://English.Salvatorecuomo.com/Recipes/Italian%20-%20Orecchiette%20Pasta%20How%20To.html

by Grand Chef Salvatore Cuomo

#SalvatoreCuomo #RecipeOfTheDay #Pasta #yummylicious   #yummyfood   #delicious   #deliciousfood   #deliciousrecipes   #recipes   #pastarecipes   #italianrecipes   #homemaderecipes   #homemadefood   #homemaderecipes  
24
2
Elizabeth Kumalasari's profile photoFrederica Mussolini's profile photoHai Vu's profile photoKatyissa B's profile photo
5 comments
 
It is a great idea especially with holding lots of the sauce which is a bonus ;) 
Add a comment...
 
Happy Mothers Day to all the beautiful and precious Mothers. A fitting cake to celebrate would be a yum honey cake because Mums are honeys totally sweet;) Now imagine honey in the sponge YUM with a cream filling YUM. There are so many recipe versions, here are three, one without flour, the other with flour and one with coffee, Sour cream, honey, orange and cinnamon, check it out -

Russian Honey Cake No Flour (version 1)  -
Ingredients
2 eggs
100 grams softened butter
150 grams sugar (I would add brown sugar )
2 tablespoons honey (I would put more)
1.5 teaspoons baiking powder
2 glasses smetana (or Greek yoghurt, or sour cream, or add both together)
1 glass caster sugar
2 teaspoons vanilla sugar
Instructions
Lay baking paper in a baking tray. Set the oven temperature for 200 C.
Melt the honey over low heat or under a tea candle.

Mix butter with sugar and honey. Add eggs, one by one, keeping on mixing.

Roll the batter. Select a plate (or the bottom layer of a baking form) which later will serve as a guide for making round layers of the same size. Cut the batter into pieces slightly larger than the diameter of the plate.

Bake the layers (200 c) until golden crust - about 5-6 minutes per each portion. Cool them down and Trimmer into same size using the plate as a guideline. Collect the trimmings and finely chop them or blitz in a blender/chopper.

Make the frosting:
Mix well smetana with sugar and vanilla sugar. The sugar should completely incorporate. Generously spread the cream over each layer, put them on top of each other, slightly pressing. Spread the cream all over the cake and powder with chopped trimmings.

Put the cake into the fridge and let it stand for a few hours for the layers to absorb the frosting and soften. Be confident, It is well worth the wait!
Enjoy!

Russian Honey Cake with coffee, Sour cream, honey, orange (version 2)- 
Ingredients:

14 oz honey (clover or wild) - lots and lots 
8 lg eggs (yolk & white separated)
Zest & juice of 1 orange
6 tbsp butter
2 tsp baking powder
2 tsp cinnamon
2 cups sugar (brown sugar I would use)
1 cup strong coffee
1 cup sour cream
1 cup chopped walnuts
6 cups flour (2 cups flour + 3 cups almond meal I would do, experiment)
Preparation/Method

Heat the honey to boiling; let it cool
Beat the egg yolks (reserve the whites) with the butter until fluffy
Add the cooled honey to egg and butter mixture; beat until well blended
Add sugar to the mixture
Sift the flour, baking powder, baking soda, cinnamon together to the mixture
Add the orange zest, juice, coffee and sour cream stirring until no dry flour shows
Whip the egg whites until stiff, then fold in a little of the whites, mixing well, then add the rest of the whites
Stir in the chopped nuts
Pour into buttered and floured loaf pans, rapping them to even the batter
Bake in a preheated 325°F oven for about an hour
DO NOT open the oven door during the first 30 minutes of baking
When done, cool on wire racks for 10 minutes and then turn out to finish cooling
Wrap well in heavy duty aluminum foil and store in the refrigerator

Russian Honey Cake via +Jasmina Brozović   (version 3)- 
Ingredients:
9 egg yolks (room temp.)
1/2 cup sugar
1 stick butter
1/2 cup honey YUM
1.5 tsp baking soda
3.5 cups all purpose flour (again I would use half/half flour +almond meal)

Cream:
24oz sour cream
1.5-2 cups sugar
1 tsp vanilla extract

Instructions:
Preheat oven to 450°F.
Line a 17x12 baking sheet with parchment paper.
Add yolks and sugar to mixing bowl, and mix on medium speed until sugar has dissolved. About 10 minutes.
Melt butter in a saucepan and pour into a large mixing bowl. Swirl the butter around so the sides get oiled.
Add honey to the saucepan and heat until it starts to boil. Add the baking soda. The mixture will start to bubble and rise. Mix together for about 20-25 seconds, until its a nice golden color.
Take off heat and pour honey mixture into the butter, mix until combined.
Add the egg yolk mixture into the honey mixture and mix until combined.
Add flour slowly into the batter, couple tablespoons at a time while mixing.
Divide the dough into 3 equal parts.
Take one dough ball and divide into 4 equal parts onto a prepared baking sheet.
Press dough onto the sheet with your fingers, and spread it out very thin, about 1/8 inch, until the entire sheet is covered. Use kitchen gloves or latex gloves so the dough wont stick to your fingers.
Bake for 5-6 minutes. Let cool on wire rack.
Repeat with remaining dough.

Cream:
Mix sour cream, sugar, and vanilla extract until combined and let sit for about 8 minutes until sugar has dissolved.

Putting it together:
Spread 1/3 of the cream on the first layer. Flip the second layer upside down and place it onto the first layer. So the bottom of the second layer is facing you. Spread 1/3 cream onto the second layer. Place the last layer forward facing, on top of the second layer, and spread with remaining cream.
Cut cake in half and place one half on top of the other half.
Decorate cake with walnuts and chocolate shavings.
Cut rugged edges for a nice presentation.
Place in fridge for 4 hours or overnight for layers to soak in the cream.

Enjoy:-)

http://www.myrussianfood.com/desserts/medovik

and
http://tiger.towson.edu/~lshaka1/recipe.html

and +Jasmina Brozović cake version - 
https://plus.google.com/u/0/s/russian%20honey%20cake

#bakingrecipe   #mothersday   #honey   #yummylicious   #yummyfood   #dessertrecipes   #deliciousfood   #creamy   #yummy  
16
Mikko Tyllinen's profile photoJasmina Brozović's profile photoKatyissa B's profile photo
3 comments
 
<3
Add a comment...
 
Melbourne City in Winter captured through my eyes on my daily walks, taken in a rush as I had a critical low battery;)
Gold Rush - Melbourne was transformed into the world's largest and wealthiest cities during the gold rush of the 1850s. Melbourne was founded on 30 August 1835. It was declared a city by Queen Victoria in 1847. 

The gold exported to Britain in the 1850s paid all her foreign debts and helped lay the foundation of her enormous commercial expansion in the latter half of the century.

For a number of years the gold output from Victoria was greater than in any other country in the world FACT with the exception of the more extensive fields of California (WRONG, see my notes below. Wikipedia totally messed the statistics and I have to correct it).  Victoria's greatest yield for one year was in 1856, when 3,053,744 troy ounces of gold were won from the diggings. From 1851 to 1896 the Victorian Mines Department reported that a total of 61,034,682 oz of gold was mined in Victoria.

Gold discoveries in Beechworth, Ballarat and Bendigo sparked gold rushes similar to the California Gold Rush.  At its peak some two tonnes of gold per week flowed into the Treasury Building in Melbourne.

The Victorian Gold Discovery Committee wrote in 1854:

The discovery of the Victorian Goldfields has converted a remote dependency into a country of world wide fame; it has attracted a population, extraordinary in number, with unprecedented rapidity; it has enhanced the value of property to an enormous extent; it has made this the richest country in the world; and, in less than three years, it has done for this colony the work of an age, and made its impulses felt in the most distant regions of the earth.

The gold rush is reflected in the architecture of Victorian gold-boom cities like Melbourne, Castlemaine, Ballarat, Bendigo and Ararat. Ballarat has Sovereign Hill—a 60 acres (24 ha) recreation of a gold rush town—as well as the Gold Museum, while Bendigo has a large operating gold mine system which also functions as a tourist attraction.

Dearest  +Wikipedia You totally messed with the stats see my correction -  

In summary the true statistics are as follows;
- In Victoria from 1851 to 1896 the Victorian Mines Department reported that a total of 61,034,682 oz (Trillions of $$$$) of gold was mined in Victoria.
- In California from 1848 to 1855 modern estimates by the U.S. Geological Survey are that some 12 million ounces[78] (370 t) of gold were removed in the first five years of the Gold Rush.  By the mid-1880s, it is estimated that 11 million ounces (340 t) of gold was mined.  The total production of gold in California from then till now is estimated at 118 million ounces (3700 t). Calculated as at 1848 to 2014, that is a massive inconsistency as regards statistics so therefore during the Victorian gold rush between 1851 to 1896 the  total of 61,034,682 oz (Trillions of $$$$) of gold that was mined in Victoria made Melbourne Victoria the wealthiest place on the Earth for that period and the gold exported to Britain in the 1850s paid all of Britain's foreign debts. That is huge considering that Melbourne city was founded on 30 August 1835 and the settlers were living in tents, I mean the city and townships were being built and for that amount of money to be generated was phenomenal. 

Therefore, it should be noted that Melbourne was transformed into  THE world's largest and wealthiest cities during the gold rush of the 1850s  +Wikipedia please get it happening and correct the stats.

Victorian Gold Rush -    http://en.wikipedia.org/wiki/Victorian_gold_rush

Californian gold rush - http://en.wikipedia.org/wiki/California_Gold_Rush

#melbourne   #australia   #melbournevictoria    #melbournephotography   #australianphotography   #worldcities   #goldrush   #photooftheday   #photography   #moon   #fullmoon   #thereisstilllotsofgoldinvictoriajustgottofindit   #melbourneisprobablybuiltongold   #thereisamassivechance   #victoriamusthavelotsofgoldyetbebefound   #wellihavetoexplore  
14
Dan Wright's profile photoMikko Tyllinen's profile photosplit-croatia's profile photoKatyissa B's profile photo
5 comments
 
Wikipedia have messed with the stats, in fact it should read 'Melbourne  was transformed into  THE world's largest and wealthiest cities during the gold rush of the 1850s'.

In summary the true statistics are as follows;
- In Victoria from 1851 to 1896 the Victorian Mines Department reported that a total of 61,034,682 oz (Trillions of $$$$) of gold was mined in Victoria.
- In California from 1848 to 1855 modern estimates by the U.S. Geological Survey are that some 12 million ounces[78] (370 t) of gold were removed in the first five years of the Gold Rush.  By the mid-1880s, it is estimated that 11 million ounces (340 t) of gold was mined.  The total production of gold in California from then till now is estimated at 118 million ounces (3700 t). Calculated as at 1848 to 2014, *that is a massive inconsistency as regards statistics so therefore *during the Victorian gold rush between 1851 to 1896 the  total of 61,034,682 oz (Trillions of $$$$) of gold that was mined in Victoria made Victoria the wealthiest place on the Earth for the period, and the gold exported to Britain in the 1850s paid all of Britain's foreign debts. That is huge considering that Melbourne city was founded on 30 August 1835 and the settlers were living in tents, I mean the city and townships were being built and for that amount of money to be generated was phenomenal. 

Therefore, it should be noted that Melbourne was transformed into  THE world's largest and wealthiest cities during the gold rush of the 1850s  +Wikipedia please get it happening and correct the stats.

Victorian Gold Rush -    http://en.wikipedia.org/wiki/Victorian_gold_rush

Californian gold rush - http://en.wikipedia.org/wiki/California_Gold_Rush
Add a comment...
 
WOW Google- Starting today, you can watch/cast +Google+ photos and videos to your TV with #Chromecast using your +Android phone or tablet, iPhone or iPad

#google   #googleplay   #photography   #photographer   #photooftheday   #photoalbum   #pictures   #android  
 
#NowCasting Google+ photos and videos
Transform your TV into a photo album. Starting today, you can cast +Google+ photos and videos to your TV with #Chromecast using your +Android phone or tablet, iPhone or iPad. Just look for the cast button in the Photos view of the Google+ app to view and share your favorite memories right on your TV.

Pro tip: Not seeing your photos? Switch on the Auto Backup feature in Google+ to cast all of your photos. You can find this in the settings menu.

Learn more: http://goo.gl/YhwHSB
14
1
Frederica Mussolini's profile photo
 
Cheers bubbla :*)
Add a comment...
 
Melbourne- This is a grey headed flying fox one of the largest bats in the World and is a megabat native to Australia with the largest colony of  bats in the World. Shot taken  just near the Yarra River in Melbourne City. Melbourne has Jurassic sized bats.
Bats are everywhere in Melbourne I see them every night. I LOVE BATS;) 
#spiders   #spidersunday   #spidersareawesome   #bats   #batsareawesome   #allcreaturesgreatandsmall   #batman   #lovebats   #lovespiders   #melbourne   #melbournephotography   #australianphotographers   #australianphotography   #melbournevictoria   #melbournecbd   #Isavedmyselflucky   #spiderweb   #jurassicsizedbatsareeverywherearoundme #jurassicparkhappeninginmelbourne   #jurassicpark  
 
Melbourne can go a tad batty along the Yarra River
#bats   #yarrariver   #melbourne  
11
Colin Ellis's profile photoFrederica Mussolini's profile photoHai Vu's profile photoKatyissa B's profile photo
5 comments
 
Exactly right +Frederica Mussolini and no way that I would kill a little creature ABSOLUTELY NOT. 
Add a comment...
 
Amaretto Cheesecake with Chocolate Recipe YUMMO 
Ingredients - 
675gr Ricotta Cheese
220gr Caster Sugar
200gr Crushed Biscuits ( better to use Digestive Biscuits )
200gr Good-Quality Dark Chocolate ( chopped )
4 eggs ( 3 Egg Whites, 4 Egg Yolks )
125ml Sour Cream 
125ml Thickened Cream ( whipped )
90gr Unsalted Butter ( melted )
60ml Amaretto ( Amaretto is from bottle shops )
34gr Cocoa Powder ( sifted )
34gr Plain flour (I would just add almond meal)
5gr Vanilla Extract



Directions:

01 - Preheat the oven to 160C.

02 - Grease a 23cm springform pan. 

03 - Cover the base and sides of the pan with a double layer of foil. 

04 - Combine the Biscuit Crumbs, Cocoa and Butter, then spread the mixture over the base and 2cm up the sides of the pan. 

05 - Process the Egg Yolks, Vanilla and Sugar in a food processor. 

06 - Add the Ricotta, Sour Cream, Amaretto and Flour, and process until smooth. 

07 - Place the mixture in a mixing bowl and fold through the Whipped Cream. 

08 - Beat the Egg Whites until soft peaks form, then fold into mixture, making sure it's well combined. 

09 - Finally, fold in half the Chocolate. 

10 - Place in prepared pan, then sit in a deep baking dish. 

11 - Pour boiling Water into baking dish so it comes halfway up sides of pan. 

12 - Bake for 1 hour, turn the oven off and leave to cool completely, then refrigerate for a minimum of 1 hour. 

13 - To serve, place the remaining Chocolate in a bowl over a pan of simmering water ( making sure the bowl doesn't touch water ) and stir until Chocolate melts. 

14 - Cool slightly, then serve slices of Cheesecake drizzled with the melted Chocolate.
Amaretto Cheesecake

RECIPE HERE: http://english.salvatorecuomo.com/Recipes/Italian%20-%20Amaretto%20Cheesecake.html

by Grand Chef Salvatore Cuomo

#RecipeOfTheDay #SalvatoreCuomo — with Kheir Edine Sammakieh.

 #RecipeOfTheDay #Pasta  #yummylicious   #yummyfood   #delicious   #deliciousfood   #deliciousrecipes   #recipes   #pastarecipes   #italianrecipes   #homemaderecipes   #homemadefood   #homemaderecipes   #chocolate   #chocolatelovers   #chocolatecake   #chocolaterecipes   #creamcheese   #whippedcream   #sourcream  

#yummy   #amerattocheesecake   #cheesecakerecipes   #cheesecake   #cheese
70
11
Mandy Nguyen's profile photoSir Charles's profile photojoshua corbitt's profile photoBrad Whitlock's profile photo
4 comments
 
that is fantastic!
Add a comment...
 
Probably the best thing you can do to protect your children.... Do it today! Right now... think of a word - any word and practice it everyday in the car with your children on the way to the shops/school/kindy when ever you go out...
Share this post or tag a mum who needs to read this.
10
Add a comment...
 
Australian Structural Deficit- In trade terms, the Australian economy has had persistently large current account deficits for more than 50 years. One single factor that undermines balance of payments is Australia's narrow export base
EVERYTHING IS MADE OVERSEAS THAT IS THE PROBLEM. WE NEED JOB CREATION IN AUSTRALIA. MORE MADE IN AUSTRALIA PRODUCTS.
Dependent upon commodities, the Australian government has endeavoured to redevelop the Australian manufacturing sector. This initiative, also known as microeconomic reform, has helped Australian manufacturing to grow from 10.1% in 1983-1984 to 17.8% in 2003-2004.

There are other factors that have contributed to the extremely high current account deficit that Australia has today. Lack of international competitiveness and heavy reliance on capital goods from overseas might increase Australia's current account deficit in the future.
Low levels of national savings also contribute to high current account deficits. This is because excessive expenditure will force a lot of businesses to seek funds overseas. At the same time, when governments run constant budget deficits, they meet their monetary requirements by borrowing from the domestic sector. Economists refer to the ‘crowding out effect’ to explain this economic situation. When governments borrow from the domestic sector, they force the private sector to ‘crowd out’.
Since there aren't enough funds available within the domestic economy, the private sector is forced to borrow funds from overseas. The borrowing of funds is simply typed into the borrowers account at interest to the lender, no real paper money is lent and the fractional reserve banking system kicks in via compueterised lendings. Borrowing from overseas causes Australia’s current account deficit to increase, leading to a major increase in credit debt expansion. On the other hand, there is nothing wrong with the debt growing if Gross Domestic Product grows at the same time. That is, current account deficit has to stay within a range of 4-5% in order to meet regular interest repayments on foreign debt whilst maintaining perpetual servitude of the borrower and interest repayments to the lender.
However, excessive current account deficit, combined with low investor confidence and the possibility of a currency crisis, will force the central bank to implement contractionary macroeconomic policies to restrict economic growth. When economic growth or activity is being restricted, low investment and low levels of expenditure will generally restrain the current account from growing. Nevertheless, Australia’s current account deficit needs a long term solution in order to secure the Australian economy's viability.
Many economists, notably John Pitchford, argued that choices whether to borrow or lend are dealt with between private or ‘consenting adults’ and in consequence no governmental intervention is necessary. There are also other experts who argue that Australia’s high current account deficit will undermine the Australian dollar and that it might experience a similar crisis experienced by the Thai currency that foreshadowed major economic crisis.
Effects on wider economy[edit]
There are multiple complications that result if countries have a high sustained current account deficit and high foreign debt. While sustainable foreign debt is not a major problem, an unsustainable current account deficit can have serious repercussions for the Australian economy. In December 2007, Australia's deficit hit $19.3 billion which was an 18 per cent increase than three months earlier.[3]

*The structural deficit in Australia is mainly caused by the business sector and not the domestic sector, so then why must the tax payer repay the deficit and be hit by higher taxes and have cuts to hospitals, health, schools, pensions etc, the structural deficit should be repaid by the business sector SIMPLY through microeconomic reform in the Australian manufacturing sector, introduce international competitiveness. But instead Australia relies on heavy reliance on capital goods from overseas, a lot of businesses to seek funds overseas, and with the government borrowing from the domestic sector it only creates a higher deficit. In summary one single factor that undermines balance of payments is Australia's narrow export base AS SIMPLE AS THAT.

Balance of payments in Australia - http://en.wikipedia.org/wiki/Balance_of_payments_of_Australia

#australia #australianliberalparty #labourparty #australianlabourparty #australianpolitics
4
Add a comment...
Story
Tagline
Business Enterprise/Legal/Property/Finance/Estates
Introduction

I love Cooking, Boot camp gym, Theatre, Art Galleries, Creating Parfum, Property Law, Finance Law, French Delice, High Tea, Eccentric Company, Horse Riding, Fruit picking fresh from farms, Vegetable garden, Aromatherapy..

Ja sam ja..tko me ne voli ne mora!
Education
  • St. Aloysius Catholic Girls Secondary College, North Melbourne
    Law
  • Primary school: Holy Rosary Catholic School, Kensington
  • Swinburne University, Hawthorn
Basic Information
Gender
Female
Work
Occupation
Business Enterprise/Study
Skills
Law/Property/Finance
Employment
  • Business Enterprise/Study
    present
  • Barristers & Solicitors
    Property Law/Estates/Finance Law
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Melbourne Australia
Previously
Australia - Melbourne
Links