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1. End in Mining Boom was 7 points of GDP slowly going to be reduced to 2 points
2. Reduction in Manfacturing
3. Contraction of services sector due to points 1. and 2.
4. Contraction in housing markets in major cities due to 1. 2. 3.
5. Increase burden in social welfare and higher unemployment rates
6. Reduction in public spending
7. Negative equity and general wallet tightening. Business close etc.
This has been in on the cards for sometime. Australia has had once in a century boom due to mining and services.
While they are not going to disappear they are already starting to contract.
Everything will be fine but prepare yourself for the next few years accordingly as it will be bumpy.