Is our economy screwed ?

[dave289]

Just thinking the other day that the only real thing in our economy that is thriving is mining. Because of this the government says our inflation is strong and we are going great guns, so now we need to increase rates ,etc to keep things in check. The problem is most other economies are on the brink of colapse and they then make it harder on them because of this. Our manufacturing industry is finished, everybody wants things for the cheapest price they can get it for. So instead of aussie joe blow making a good quality product for say $15 dollars , joe wong in china makes crap for $1 because his workers get paid 30 cents an hour instead of $30 an hour over here .so most people go out and buy joe wongs product for $2. aussie joe cant compete anymore and is forced to close his doors and his buisiness, he is now out of a job and so are all the people he used to employ. Then comes retail, people rent out a shop ,employ people and start to sell there product. Because of the internet and also our strong dollar, many people now shop on the net and get products delivered to there door for a fraction of the cost, they can shop in the comfort of their own home , whenever they feel like it and dont have to venture to the shopping centre wasting time and money on petrol either. people can run a buisiness in their home and dont have to pay a $1,000 a week in rent in some shopping center and dont need to employ staff, so as you can see they can sell their product much cheaper online, saving you and me time and money and now putting these retail outlets out of buisiness, more buisiness closing down and more people out of a job. Whenever I ring optus or the like I am now dealing with either an Indian or malaysian call center. these buisinesses who used to employ australians now send all there work overseas, cause they can pay these people $2 an hour instead of $22 an hour here, so many more jobs losses again for our economy. So without our mining industry ,what would we have, a failing economy. So we are now in an economy where most industries are falling down and many of our jobs are going overseas. Is our mining going do remain as competative for many years to come. I know china are now heavily into mining over there and what if they find enough resources on there own soil , they will mine them for a lot less than we do here. So , is our economy screwed ?