I’ve just been thinking about it all day, and I like to draw a black cat, which I call Niki’s Cat from the movie Mean Girls,” he said. “I like black cats better.”
The film, directed by Paul Feig (Bridesmaids, Spy), was released by Sony on Friday. The movie stars Emma Stone, Jessica Biel, Ken Watanabe, Leslie Uggams, and Taylor Lautner. It stars Amy Schumer as an office floozy named Leslie, and Biel as her cat.
It’s an ongoing controversy in Australia, and one that has not only taken a heavy toll in lives, but in economic growth as well. After being accused of being a tax break for some, it’s safe to say that many believe the Prime Minister’s claim that the $3000 tax rebate has been a boon to the Australian economy.
But there’s one important element missing from that narrative: the value of Australian resources.
According to a report commissioned by the World Bank, Australia’s share of international resources exports is actually declining. After being listed in the US as a leading exporter for decades, Australia is now no longer in the top category and ranks a lowly 15th after being forced to settle for the second place position by a dramatic fall in the total value of gold exports that took place in 2006-07.
One can only guess at the role this play, but it begs more questions than it answers:
1. How did Australia come to be the undisputed world exporter?
The main driver was an increase in the amount of resources exports to the US and an equally dramatic drop from the previous year. In June 2011, the total amount of resources exports to the US totalled over $20 billion – a level only topped by the US in 2008-2009 – but that figure has steadily slid over the subsequent years.
While it’s possible that prices for Australia’s resources have become too high (and even the federal government has been taking a hit from the mining boom) they’re likely simply not paying for themselves. As an example, the value of commodities – like iron ore and coal – are based upon their intrinsic value.
As a commodity, it’s hard to value and so the value of iron ore (as a commodity) is largely driven by its supply and demand. The same is applicable for coal-based fossil fuels such as oil and gas.
It took over eight years for Australia to become the