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Contents contributed and discussions participated by William Leys

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William Leys

Housing finance falls more than expected - 0 views

news.smh.com.au/...n-expected-20110406-1d3og.html

Australia Flooding

shared by William Leys on 10 Apr 11 - No Cached
  • The number of home loans approved in February fell 5.6 per cent, to a seasonally adjusted 45,393, data from the Australian bureau of Statistics showed
  • Economists' forecasts had centred on a 1.5 per cent fall in housing finance commitments for February.
  • "There were expectation that it would fall on the back of the Queensland floods but if you look at the data a little bit more closely housing finance commitments fell pretty much across the board," Mr Dinte.
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  • Mr Dinte said the November interest rate hike by the Reserve Bank of Australia was part of the reason for the fall.
  • The Reserve Bank of Australia (RBA) would be concerned with falls in housing finance in NSW and Victoria for the month, which dropped 10.1 per cent and 4.6 per cent respectively, the said
  • William Leys on 10 Apr 11
     
    Research Question: What are the effects of the Australian Flooding? Summary: The economy in Australia took a hit from the flood, which also combined with a interest rate raise from November and created a 5.6% drop in financing. Reflection: Same thing happened in New Orleans after Katrina, the Government stepped in more forcefully in the U.S. to insure that people could get loans to repair homes though. Questions: Would people in Queensland be more likely to be turned down from loans? They need all the help they can get after taking the hit they did. "Housing finance falls more than expected." Sydney Morning Herald (2011): n. pag. Web. 10 Apr 2011. .
William Leys

Due to flooding, the Australian Coal Production Loss $ 8, 3 Billion | Business Area - 0 views

businessarea.org/n-loss-8-3-billion-271523.html

Australia Flooding

shared by William Leys on 10 Apr 11 - No Cached
  • SIDNEY – Damage caused by flooding in Australia some time ago resulted in the loss of coal production is estimated at $ 8, 3 billion.
  • s previously projected. Heavy floods hit parts of Queensland in January, causing significant damage, among which is the cessation of mining production and the cessation of transportation infrastructure.
  • “It is estimated the lost coal production ranges between 20-30 million tonnes,” said the Australian Treasury Department was quoted as saying by the AFP on Sunday (03/04/2011). Previously the government has indeed been estimated that the floods which covers an area of ​​the country of France and Germany will cut its coal production of approximately 15 million tons in the first quarter of March.
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  • In addition to main economic impacts due to these disasters is the disruption of mining and coal exports. Another thing that affects the agriculture in several countries. “Rising prices for crops and livestock, leaving farmers to further increase the expenditures and strive to increase their capital,” said the Australian Treasury. Besides these two effects, the flood that killed more than 30 people also have an impact on the tourism industry. Tourism Australia is facing some problems.
  • William Leys on 10 Apr 11
     
    Research Question: What are the effects of the Australian Flooding? Summary: Continuing problems with coal have impacted Australia more than anticipated Reflection: Since the coal mines still have stagnant water in them, the process of procuring coal has stayed difficult and over-costly. Forcing coal prices to rise for the Australian-Asian market. Questions: Why were the original lost tonnage estimates by the Australian Government so off? Shouldn't they have had a better picture of the amount lost?
William Leys

Coal and Climate Change in Queensland - 0 views

socialistresistance.org/...d-climate-change-in-queensland

Australia

shared by William Leys on 10 Mar 11 - No Cached
  • The recent severe flooding in Australia that caused scores of deaths and billions of dollars in property damage and which was followed by an unusually powerful cyclone that caused damage hundreds of kilometers from the Queensland coast are the result of climate change. Floods and cyclone are natural phenomena but their unusual intensity and increasing frequency are linked to changes in weather patterns.
  • Meanwhile, ocean surface temperatures off northern Australia have been at record levels — as much as 5°C above average in some places.
  • Given this knowledge, the silence on the contribution of climate change to the January floods and Cyclone Yasi is deafening. The Royal Commission announced to investigate the floods will be limited to the response to the disaster and not the cause.
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  • The Australian and Queensland governments are putting fossil fuel company profits ahead of human safety.
  • William Leys on 10 Mar 11
     
    Research Question: What are the effects of the Australian Floodings? Summary: Australia is putting fossil fuel production ahead of public safety in order to maintain low costs. Reflection: The article is definitely coming from a more socialist perspective (go figure), so they speak against the more Capitalist government in Australia. Questions: How will they be able to prevent future storms given the knowledge they have? They don't offer a solution, so do they know someone who does? "Coal and Climate Change in Queensland." Socialist Resistance (2011): n. pag. Web. 10 Mar 2011. .
William Leys

Flood study to examine health effects of mould and mud - News - Virtual Medical Centre - 0 views

www.virtualmedicalcentre.com/...16014

Australia

shared by William Leys on 10 Mar 11 - No Cached
  • Homeowners in flood-affected Brisbane suburbs are being asked to participate in a study that will examine the effects of mould and mud on people's respiratory health.
  • Laboratory director, Professor Lidia Morawska, said although the flood waters had receded in Brisbane, there were numerous public health issues associated with its aftermath.
  • Mould and dust from waterlogged materials and silt and organic debris in flood-affected areas could impact on residents' respiratory health, with the greatest effect typically seen in children and asthmatics, she said.
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  • "Understanding human exposure is very important to know whether there's any risk to our health from mud and mould," said Professor Morawska."It is clear that after flooding there is quite a big problem with mould. This has been seen in many other parts of the world, including after Hurricane Katrina.
  • Professor Morawska said 15 households that were flooded and 15 homes that were unaffected were needed for the study, which would take place in coming weeks.
  • William Leys on 10 Mar 11
     
    Research Question: What are the effects of the Australian Flooding? Summary: Mold and dust have worked their way into people's homes. Test have to be done to see how bad that could be for the owner's health. Reflection: Much like the Katrina situation, they need to insure that they have a clean environment to live in. Questions: How invasive will the tests be? Is it something you have to be out of your home for a full 24 hours? "Flood study to examine health effects of mould and mud." VirtualMedicalCentre.com (2011): n. pag. Web. 10 Mar 2011. .
William Leys

Coking Coal Supplies Tighten Further - Commodities - Resource Investor - 0 views

www.resourceinvestor.com/...-supplies-tighten-further.aspx

coal australia

shared by William Leys on 16 Feb 11 - No Cached
  • The situation is far worse than three years ago, when flooding also affected Queensland coal production. At that time (February 2008), the tonnage lost is estimated to have been only 5-6 million tonnes, McCloskey said. On the other hand, the effect on the recent floods appears to have more than counterbalanced fears of a slowdown in Chinese coal demand
  • “Can Australia and the rest of the coking coal market make up the lost tonnage in the balance of the year? The answer is: no,” McCloskey said. “Some people will not be able to make steel because of what is happening in Queensland,” he stated.
  • US producers have steadily expanded coking coal exports in recent years, from 37 million tonnes in 2009, to 55 million tonnes in 2010. This year, US exports are forecast to reach 65 million tonnes. much of which will be in the form of relatively low grade blending coals. These factors will help to restrain prices.
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  • Brett Hartke
  • William Leys on 16 Feb 11
     
    Research Question: What are the effects of the Australian flood? Summary: Coking Coal from Australia is going to harder to get. The effect could end up being higher prices for steel production (what coking coal is used for).  Reflection: The flood had a serious effect on coking coal and as a result the production costs of steel will go up. This could effect any number of industries ranging from the auto industry to housing. 
William Leys

AFP: Australia floods to cut growth: bank - 0 views

www.google.com/...M5hpeLcjHpScSlPdHCUdZdjhYYhhsA

floods australia

shared by William Leys on 16 Feb 11 - No Cached
  • SYDNEY — Australia's record floods will shear one percentage point off growth in the March quarter, the central bank said Tuesday, with preliminary estimates showing a 15 percent drop in coal output
  • "The biggest effect on GDP was likely to arise from swings in coal production, with many Queensland mines severely affected by wet weather since December," the bank said in the minutes to its latest interest rate meeting, published Tuesday.
  • Treasurer Wayne Swan has flagged a 0.5 percentage point drop in growth for the current fiscal year due to the floods, which killed 35 people and brought the nation's third-largest city, Brisbane, to a standstill.
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  • The coal industry, which flooding virtually shut down in Queensland last month, stood to lose about Aus$5 billion (US$5.02 billion) in exports from the crisis, while agriculture could take a Aus$2 billion hit, Swan said.The floods were followed by a top-level cyclone which Treasury estimates wiped out Aus$700 million in rural production, Aus$200 million in coal exports and Aus$100 million in tourism activity.
  • William Leys on 16 Feb 11
     
    Research Question: What are the effects of the Australian Flooding?Summary: People are all losing money because Australia's 3rd largest city (Brisbane) completely came to a halt from the floods.  Reflections: It's bad that Australia is going to lose a large chunk of their GDP, at the same time it isn't just going to effect them. Japan is  a huge importer of Australian coal. A good 10% of that coal is now under water and that will make it more difficult for Aussies to get coal to Japan, which in turn could raise the prices of Japanese made cars in the U.S. Questions: How much equipment was damaged as well?  
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