More than 50 major resource projects ...

More than 50 major resource projects controlled by foreign investors

There are 24 comments on the www.maynereport.com story from Dec 9, 2012, titled More than 50 major resource projects controlled by foreign investors. In it, www.maynereport.com reports that:

The Mayne report has shed the light on a previously hidden area, showing the extensive foreign control and ownership In Australia.For those real Australians wanting major Australian control of its assets its a shock that over 50 major resource projects in Australia are foreign controlled.This includes the worlds largest diamond mine Argyle and the worlds largest lowgrade iron ore mine Mesa J. Where is the Government protection of Australian assets? http://www.maynereport.com/articles/2007/07/17-2040-8377.html

Join the discussion below, or Read more at www.maynereport.com.

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yeah right

Australia

#1 Dec 9, 2012
WELL??? Where IS the government protection of AUSTRALIAN ASSETS? HMMMM?????
Myth Buster

Sungai Petani, Malaysia

#2 Dec 9, 2012
The fact is Australia has always rely on foreign capital for most major projects in the past.
Rio Tinto and BHP are examples.
Australia has very low saving rate; impossible to raise all the capital needed for big projects.
Please don't condemn me for saying the truth.
aussie

Adelaide, Australia

#3 Dec 10, 2012
Myth Buster wrote:
The fact is Australia has always rely on foreign capital for most major projects in the past.
Rio Tinto and BHP are examples.
Australia has very low saving rate; impossible to raise all the capital needed for big projects.
Please don't condemn me for saying the truth.
Rubbish, the truth is Australia is losing billions of dollars to foreigners because our government lacks the right people and the right attitude. We need Us style nationalism and nationalists and business attitude long ago controlling our gov and business, now its too late australia is a whore of foreigners thanks to our weak government.
we were actually on the right track in the 50s and 60 with menzies and curtins governmenets , but we started becoming foreign dependent after labours whitlam in the 70s, now its too late.i find being australian embarrasing now as the example of our recent government has sent a message overseas that we are just weak submissive followers of other more powerful nations.
jonas

Adelaide, Australia

#4 Dec 10, 2012
Myth Buster wrote:
The fact is Australia has always rely on foreign capital for most major projects in the past.
Rio Tinto and BHP are examples.
Australia has very low saving rate; impossible to raise all the capital needed for big projects.
Please don't condemn me for saying the truth.
You typed that like a real wannabee chinese exploiter and wannabee colonist and imperialist, you chinese cant believe your good luck with the weak easy government we have.
Myth Buster

Sungai Petani, Malaysia

#5 Dec 10, 2012
aussie wrote:
<quoted text>
Rubbish, the truth is Australia is losing billions of dollars to foreigners because our government lacks the right people and the right attitude. We need Us style nationalism and nationalists and business attitude long ago controlling our gov and business, now its too late australia is a whore of foreigners thanks to our weak government.
we were actually on the right track in the 50s and 60 with menzies and curtins governmenets , but we started becoming foreign dependent after labours whitlam in the 70s, now its too late.i find being australian embarrasing now as the example of our recent government has sent a message overseas that we are just weak submissive followers of other more powerful nations.
Lol!
Here is some statistics for you to study.

Data: OECD, World Bank, Standard Chartered, Turkish State Planning Office, British Office for National Statistics 2010
Savers and Spenders
How Household Savings Stack Up in Asia, the West, and Latin America

Saving rate:
China 38%
India 34.7%
Germany 11.7%
UK 7%
US 3.9%
Australia 2.5%
Myth Buster

Sungai Petani, Malaysia

#6 Dec 10, 2012
jonas wrote:
<quoted text>
You typed that like a real wannabee chinese exploiter and wannabee colonist and imperialist, you chinese cant believe your good luck with the weak easy government we have.
I get condemnation every day.:(
People should look more closely at the fact that I presented.
If u send all you money and save only 2.5% where are you going to find capital for investment. The gov also has a budget deficit.
yeah right

Australia

#7 Dec 10, 2012
Myth Buster wrote:
<quoted text>
I get condemnation every day.:(
People should look more closely at the fact that I presented.
If u send all you money and save only 2.5% where are you going to find capital for investment. The gov also has a budget deficit.
Household savings do not include superannuation. More nationalism is not required here. What is required are fewer greedy pollies and business owners with their snouts in the trough.
scooterman

Northcote, Australia

#8 Dec 10, 2012
Myth Buster wrote:
The fact is Australia has always rely on foreign capital for most major projects in the past.
Rio Tinto and BHP are examples.
Australia has very low saving rate; impossible to raise all the capital needed for big projects.
Please don't condemn me for saying the truth.
No condemnation. It's only the trolls who really cop it, even in the Wild West of Topix.

If our government and the banking industry were so concerned by "low savings rates" and debt (especially mortgages) which eat into savings then they would be focusing more on tax breaks for workers , less on middle-class welfare (and tax-payer funded nannies!) and filling their wealthy mates' pockets with all sorts of grants, bailouts and tax credits.

There are also political and foreign policy considerations, which is the reason why some Asian countries are a lot more eager to fund our projects than they are for Australians to fund their domestic projects. Some Asian countries aren't as reciprocal as others when it comes to economic liberalism and 'free trade'.

We have plenty of capital but we also have a lot of people whom the government is eager to please with someone else's money (and I'm not talking about the unemployed or pensioners).
scooterman

Rowville, Australia

#9 Dec 10, 2012
Myth Buster wrote:
<quoted text>
Lol!
Here is some statistics for you to study.
Data: OECD, World Bank, Standard Chartered, Turkish State Planning Office, British Office for National Statistics 2010
Savers and Spenders
How Household Savings Stack Up in Asia, the West, and Latin America
Saving rate:
China 38%
India 34.7%
Germany 11.7%
UK 7%
US 3.9%
Australia 2.5%
But things change, Myth Buster:

http://www.theaustralian.com.au/news/nation/h...

I will link to a similar site that you did which gives plausible explanations for differing savings rates:

http://www.businessweek.com/magazine/content/...

Higher savings rates are an indicator of higher financial insecurity, that's also why ours has risen in the past few years.

The Japanese have had years of poor economic performance which have taken a toll on their savings. In regards to economic performance, what rises spectacularly must either rationalise itself somehow or crash spectacularly somewhere in the future.
Mr Snuffeouficis

Australia

#10 Dec 10, 2012
yeah right wrote:
WELL??? Where IS the government protection of AUSTRALIAN ASSETS? HMMMM?????
Mining royalities should be raised by another 20% because no money was raised by mining tax. Mining tax is a profit based tax and as a result of low commodity prices in recent times very little tax was raised from it. There is high foriegn ownership in Australian mining! Australians deserve more revenue from it that can be used to benefit this country and its people.
yeah right

Australia

#11 Dec 10, 2012
Mr Snuffeouficis wrote:
<quoted text>
Mining royalities should be raised by another 20% because no money was raised by mining tax. Mining tax is a profit based tax and as a result of low commodity prices in recent times very little tax was raised from it. There is high foriegn ownership in Australian mining! Australians deserve more revenue from it that can be used to benefit this country and its people.
Mining also got foreign worker concessions that they were NOT supposed to get. F*ckers. Tax the sh*t out of them.

“We don't have to take it”

Since: Jun 08

WhereTFamI?

#12 Dec 10, 2012
yeah right wrote:
WELL??? Where IS the government protection of AUSTRALIAN ASSETS? HMMMM?????
There is none.

If you want something to make you even madder, google "Foreign companies own Australia's electricity" - or "Foreign companies own Australia's water"
christopher

Australia

#13 Dec 10, 2012
Mr Snuffeouficis wrote:
<quoted text>
Mining royalities should be raised by another 20% because no money was raised by mining tax. Mining tax is a profit based tax and as a result of low commodity prices in recent times very little tax was raised from it. There is high foriegn ownership in Australian mining! Australians deserve more revenue from it that can be used to benefit this country and its people.
Yes and our government is too gutless to get more money from the mines controllers and owners, they are an embarrasment to real australians they grovel to the indonesians and give them money , then gillard grovels to the americans while they continue to take there huge slice of about 450 million or more. They cant even own australian land, but let foreigners take it. All those mines and its content are australian property, so actually a strong australian governmnet could take control of all our mines and all its assets, the amount of money being taken by foreigners from our mines would reach over a trillion dollars or more every year or so, its very big money
Myth Buster

Seremban, Malaysia

#14 Dec 10, 2012
yeah right wrote:
<quoted text>
Household savings do not include superannuation.
Actually it does.

Household saving = disposable income - expenditure

superannuation pension funds is included by definition.

OECD Definition of household saving
-------
In the national accounts, household savings are estimated by subtracting household consumption expenditure from household disposable income and by adding the change in net equity of households in pension funds.

The superannuation fund was created because the gov was worried about low saving rate in Australia. That's what the politicians said. It also helps people lose money.
Myth Buster

Seremban, Malaysia

#15 Dec 10, 2012
scooterman wrote:
<quoted text>

We have plenty of capital but we also have a lot of people whom the government is eager to please with someone else's money (and I'm not talking about the unemployed or pensioners).
The Gov, no matter how evil, doesn't stop you from investing in your own country.
It is when corporations can't find sufficient capital locally that they try to bring in overseas investors.
yeah right

Australia

#16 Dec 10, 2012
Myth Buster wrote:
<quoted text>
Actually it does.
Household saving = disposable income - expenditure
superannuation pension funds is included by definition.
OECD Definition of household saving
-------
In the national accounts, household savings are estimated by subtracting household consumption expenditure from household disposable income and by adding the change in net equity of households in pension funds.
The superannuation fund was created because the gov was worried about low saving rate in Australia. That's what the politicians said. It also helps people lose money.
Ok so let me guess: Your point, ultimately, is that "you", because you are Chinese, are a superior race and culture. How do I know? I know because this is always your point. It is mind-numbingly boring.

"You" have a nation built by oppressive slave labour and millions of dead baby girls tossed on garbage bins to worry about. You are doing nothing on this forum besides trying to boost your own flagging self-worth. Rest assured: no one really cares about low self-esteem Chinese people and their incessant urge to put themselves above other races and nations. I repeat: NO. ONE. CARES.

You want to flog the "Australians and Americans and All Other Cultures and Races are Inferior to the Great Chinese" go do it with people who will agree with you. You'll feel much better that way and no one else will have to tolerate your bullsh*t. See how that works? Everyone wins.
SID

Chermside, Australia

#17 Dec 10, 2012
Myth Buster wrote:
<quoted text>
The Gov, no matter how evil, doesn't stop you from investing in your own country.
It is when corporations can't find sufficient capital locally that they try to bring in overseas investors.
Absolutely correct and the reason there is no local capital is that australians have nothing left to save at the end of the week because of the incredible cost of living, high taxes, and every other charge,[power, water, petrol], you name it. You can't get blood out of a stone, a lot of people are living from payday to payday with nothing in reserve.
rick

Australia

#18 Dec 10, 2012
And dont forget the thousands of innocent repressed and murdered and tortured tibetans who live in a chinese controlled hell, being denied there land, there freedoms, and being forced and brainwashed into lowlife communism.
Myth Buster

Seremban, Malaysia

#19 Dec 10, 2012
yeah right wrote:
<quoted text>
Ok so let me guess: Your point, ultimately, is that "you", because you are Chinese, are a superior race and culture. How do I know? I know because this is always your point. It is mind-numbingly boring.
"You" have a nation built by oppressive slave labour and millions of dead baby girls tossed on garbage bins to worry about. You are doing nothing on this forum besides trying to boost your own flagging self-worth. Rest assured: no one really cares about low self-esteem Chinese people and their incessant urge to put themselves above other races and nations. I repeat: NO. ONE. CARES.
You want to flog the "Australians and Americans and All Other Cultures and Races are Inferior to the Great Chinese" go do it with people who will agree with you. You'll feel much better that way and no one else will have to tolerate your bullsh*t. See how that works? Everyone wins.
I my experience someone who drink too much talk like this.
yeah right

Australia

#20 Dec 10, 2012
Don't forget as well the Chinese fist-pumping their joy and elation when the twin towers were bombed. They were hand in glove with their ultra religious peace loving friends that day.

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