Australians should be willing to work for less than $2 a day – World’s richest woman Gina Rinehart

Last week she said:

“If you’re jealous of those with more money, don’t just sit there and complain. Do something to make more money yourself — spend less time drinking, or smoking and socializing and more time working.”

Today she claimed that Australians should be willing to work for less than $2 a day:

‘Australian mining magnate Gina Rinehart has criticised her country’s economic performance and said Africans willing to work for $2 a day should be an inspiration.

Ms Rinehart is said to make nearly A$600 (£393) a second.’

The richest woman in the world is making an increasing number of public appearances, and speaking of increasingly controversial topics. I wonder why. It couldn’t be that she is becoming increasingly aggressive and controversial because her core business is in trouble, could it? Marc Faber suggests so:

There have been four mega bubbles in the past 40 years. In the 1970s it was gold; in the 1980s it was the Nikkei, and in the 1990s it was the Nasdaq. Bigger than all of them, though, has been the iron ore bubble, a tenfold increase in prices in less than a decade.

Here’s iron ore priced in dollars: Julia Gillard’s denial seems to confirm the inevitable:

Australia’s mining boom is not over and its ‘death’ has been exaggerated.

That is her “subprime is contained“ moment. Larry Elliott explodes the myth that this time is different:

Commodity-rich countries, like Australia, have never had it so good. China takes 25% of Australia’s exports and iron ore accounts for 60% of all the goods Australia sells to China. One reason Australia avoided recession during the global downturn of 2008-09 was that it had a well-run banking system. A much bigger reason was that the country had become a giant pit from which China could extract the minerals it needed for its industrial expansion. Money flooded into the country from sovereign wealth funds and hedge funds looking for AAA investments. The Australian dollar has soared, as have property prices.

China’s economy is now slowing, and although the economic data is not particularly reliable, it seems to be slowing fast. The country has two million unsold homes, with another 30 million under construction. There is a glut of iron ore and the price is falling. Where does that leave Australia? Horribly exposed, quite obviously. It has an over-valued currency, an over-valued property market, and its major customer is now desperately pulling every available policy lever in the hope of avoiding a hard landing. Whatever happens, the Australian dollar is a sell. Just how big a sell will depend on how successful Beijing is in reflating the Chinese economy.

Perhaps Gina Rinehart should spend less time drinking, socialising and writing awful poetry and more time preparing her business for the inevitable iron ore bust?

Gina Rinehart

SEE ALSO: 
Australia’s richest person Gina Rinehart receives welfare loan from US taxpayers
Australia is now officially a police state

Source: http://azizonomics.com/2012/09/05/gina-rinehart-is-a-bubble/

97 comments

  1. As an Aussie I frankly agreed with her comment about not smoking and drinking as much, because Aussies are becoming a pay-check-to-pay-check drinking smoking and gambling machine … this is NOT good for our Society.
    But to say Africans willing to work for $2 a day should be an inspiration to Aussies is the most pathetic, and ironic statement considering that it is the White TNC’s in Africa that have shackled African peoples’ ‘governments’ (puppet oligarchs) with IMF loans they cannot pay off, and not allowed them to diversify their economies to produce their own Food … this has trapped them in Banana Republic status working for Mercantilist Pigs like Gina Rinehart.
    As a person who is surely no Communist, I think Gina makes the word Capitalism look filthy, and just as you have said, she is only pissed off because the high Iron Ore prices reacting to Bubble Construction Industry conditions -freshly popped- across the world caused her to mal-invest in production capacity she no longer needs, and she might herself find herself on her knees in front of Goldman Sachs asking for a funny-money loan. Wouldn’t that be ironic? Some TBTF Pig from New York telling Gina to work for less … she will eat her own prescription but it looks like she has eaten enough already. Where are the benevolent Capitalists? …please …anyone? If we don’t find some soon we can expect a Commie Boot on our faces, which I fear will happen if the demagogues get control of Australia, and the Monopoly Capitalists all mask themselves as Socialists like the DemonCrips in the USA.

  2. JABBA THE SLUT WANT MORE FOOD – HUMMPH – WANT TO EAT AUSTRALIA – HUHUHUHUT…

  3. Its very funny of her to say we should work for 2 dollars a day, Her mining rights were granted by dubious means , she is selling the wealth of the country for personal gain, if we had a real intelligent government they would be mining these metals for the country and not allowing people to exploit the wealth of the nation , look at Saudi Arabia they dont need to pay tax .

    • i’m with you “shock and awe” if our government nationalized all our mining resources, Australia would be a prosperous nation, with no need to burden the poor and working class with austerity measures. If we added to that nationalizing our banks, our prosperity would go gang busters

  4. Not to be too obvious or ad hominem, but really — BBQ this porker and share her with those in need who would have a taste for such a “gourmet delight” :)

    • What you all must remember is of course that certain people are endowed with the capacity to crush and consume countless others, and this Darwinian imperative to perpetuate their genes of course pretty much justifies those who sit atop the Just-Us pyramid. Then on the other hand she could be of the co-delusion, that certain people are endowed by God with a divine right of kings and queens, hence why the real richest woman in the world is worth 17 Trillion Pounds and still picked the pockets of her populace to the turn of 32 billion Pounds for her Jew-Ba’al-ee celebrations. I remember when I was being inducted into Cub Scouts – they told me I had to swear allegiance to the Queen – I said “She’ not my Queen” – how does an 11yr old boy tell an over-bearing adult that she is really evil dressed up as good. So they told me I could not be a Cub-scout – but then the guy who stood over me was charged a while back with historical sex offenses against children – its rotten from the top down – and Baden Powell was a bully and a boy buggerer…its all a flaming mess one is well out of – let Babylon fall – stop trying to prop it up – its all rigged for demolition anyway and most folk, especially Xians, do not see that they are being led by a ring in the nose to the pig-sty by their goddess, Kirke. Study it out folks. Its really quite simple, greed for gain is the root of all evil and its co-dependent, co-joined sibling, Usury, has colluded and combined to bring the whole of humanity to a prodigal pig-sty experience…but remember how the story of the prodigal son ends…the miracle of compounding interest is that so few people realize its a rort…and that only the house wins…but not this time…this time the house falls…as in:

      1. After these I saw another angel who came down from heaven, who has great authority, and the earth glowed with his glory.
      2. And he cried out in a powerful voice, as he said,

      “There she falls!
      There she falls!
      Babylon the Great!
      The dwelling place of demons,
      And the haunt of every evil spirit
      And of every flying and hated spirit,
      And of every filthy and hated demon.
      3. “For of the wine of her ferment
      …drank all the nations,
      And the kings of the earth
      …fornicated with her,
      And the merchants of the earth,
      …from the strength
      Of her inner [frills (luxuries)],
      …became rich.”

  5. Let’s wake up people and see that this is the contempt that these so called “Elites” have for the people that help them become wealthy. They would spit on the common man, as so much as look at them. End corporate welfare and jail the corrupt, let’s be done with them!

  6. No-one here that has posted a message seems to get it. I don’t support Rinehart with her deliberately inflammatory comments, but many future mining operations will continue to be automated – which she apparently hasn’t alluded to. Currently I’m thinking of dump trucks using GPS location technology. To this could be added remote viewing technology, proposed remote operating centres, autonomous drilling (pilot work already – or so this is reported). Below is a link for those that care to read it:

    http://www.miningaustralia.com.au/features/automation-earns-its-stripes

    Additionally, biological mining technology may already be advanced enough for some recovery operations. Rinehart possibly won’t even need ‘third world’ wages for some of her operations soon. Anyhow, with a preference for overseas workers in the mining industry (at least from my own observations), I’d say that many future operations will go to Chinese operators – one way or another, but mostly be managed by Australians for image enhancement. Mine rehabilitation work might even be effectively carried out using drone technology over vast areas for seeding and monitoring purposes. Maintenance work, wherever needed, could eventually be outsourced to lower wage sources. Do you think that corporates care to stop at software and computer hardware outsourcing? These people ‘invest’ a lot of money into increasingly sophisticated operations. They and their ‘shareholders’ expect quick returns. Essentially, the technology is about control, and people will sooner or later become integral to the control system – one way or another: but that’s another issue.

  7. Sounds like Gina just had her “Let them eat cake” moment. We need a National Razor here …

  8. I dont think this whale could actually do a days work, i mean actual work, i dont think she is physically capable.

    In fact she inherited everything she has, didnt earn any of it, so in a way she is the biggest bludger of all.

  9. Jews are “interested” in many things, although their interest is often engaged in undermining the causes they frequently even head or dominate. Not all Jews are Talmudist or Zionist sorts. The problem is seen from the wrong light when people see a need to defend Jews from some very true stereotypes. Just as the world hates the USA, we for the most part don’t hate every individual American, they will be judgd individually obviously. However it is foolish to pretend Americans don;t deserve loathing and condemnation around the world at the same time. Given the extraordinary lion’s share of the global wars and violence which can only be laid at their door.

    So too the preponderance of Jewish ownership of media, banking and finance, as well as so many other easy ways to make money from human labour and misery and disease. There are five or six companies who control 95% of the Media, all of whom are Jewish owned/controlled. Murdoch is the only non-Jew although his mother makes him one technically and he remains as much an insider Zionist anyway as any man alive. The perfect Shabat Goy in the highest place. Given that in the USA at least there are even more Muslims than Jews today and that both groups combined are less than 5% of the USA, isn’t it a bit odd there isn’t a single Gentile owned and controlled branch of media on earth? Just scattered and marginalised outliers.

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