Repeat of 1975: GG Sacks Rudd
- Thread starter Garpal Gumnut
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Re: Repeat of 1975. GG Sacks Rudd
aaaaaand...
there is more at the link, for those with open, enquiring minds.... http://archives.econ.utah.edu/archives/pen-l/2001m06.5/msg00016.htm
aaaaaand...
there is more at the link, for those with open, enquiring minds.... http://archives.econ.utah.edu/archives/pen-l/2001m06.5/msg00016.htm
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Re: Repeat of 1975. GG Sacks Rudd
I notice GG has been absent from further comment on his thread.
Perhaps he was feeling bored and decided to stick his oar in and stir the water.Nothing like a bit of rabid political debate to liven things up!
The contention is quite ludicrous ,anyway.Comparisons between 1975 and today make no sense at all...just wishful thinking on the part of the anti-labour faction here.
Cheers Ya'll
I notice GG has been absent from further comment on his thread.
Perhaps he was feeling bored and decided to stick his oar in and stir the water.Nothing like a bit of rabid political debate to liven things up!
The contention is quite ludicrous ,anyway.Comparisons between 1975 and today make no sense at all...just wishful thinking on the part of the anti-labour faction here.
Cheers Ya'll
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Re: Repeat of 1975. GG Sacks Rudd
Well after reading about rudds bailout of mortgages and car payments now i personally think sack the numnut also !! WTF . people being penalised for having a job here ? having a hard time paying the bills ...bugga it lets all go on the dole and have a year off from paying ........ THIS has pissed me off , im gunna go sack all my workers and go do em all a bloody favour!
might as well sack myself too and live it large with the rest of these freewheelin buggas .
LOL the worse part is . I AM PAYING FOR ALL THIS latest crap and if i dont pay my bills i WILL go to the wall
un believable!
Well after reading about rudds bailout of mortgages and car payments now i personally think sack the numnut also !! WTF . people being penalised for having a job here ? having a hard time paying the bills ...bugga it lets all go on the dole and have a year off from paying ........ THIS has pissed me off , im gunna go sack all my workers and go do em all a bloody favour!
might as well sack myself too and live it large with the rest of these freewheelin buggas .
LOL the worse part is . I AM PAYING FOR ALL THIS latest crap and if i dont pay my bills i WILL go to the wall
un believable!
Garpal Gumnut
Ross Island Hotel
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Re: Repeat of 1975. GG Sacks Rudd
Sorry Boyou to disappoint you,
I'm deadly serious about this. I had to drive up to Innisfail to pick up a truck and back again this morning, so have been unable to reply.
The Governor General has been used politically recently and will now have a taste for meddling where she is needed.
The Ruddmeister is looking more like an Emperor with no clothes.
His caucus despise and fear him.
The opposition and minor parties control the senate.
The Minister for Defence has more "my best friends" in China than bloody Paris Hilton.
Stirring nah, this is serious mate
gg
Agree totally nun, why work when all the bludgers and greedy bastards who've never worked get more and more handouts.
gg
I notice GG has been absent from further comment on his thread.
Perhaps he was feeling bored and decided to stick his oar in and stir the water.Nothing like a bit of rabid political debate to liven things up!
The contention is quite ludicrous ,anyway.Comparisons between 1975 and today make no sense at all...just wishful thinking on the part of the anti-labour faction here.
Cheers Ya'll
Sorry Boyou to disappoint you,
I'm deadly serious about this. I had to drive up to Innisfail to pick up a truck and back again this morning, so have been unable to reply.
The Governor General has been used politically recently and will now have a taste for meddling where she is needed.
The Ruddmeister is looking more like an Emperor with no clothes.
His caucus despise and fear him.
The opposition and minor parties control the senate.
The Minister for Defence has more "my best friends" in China than bloody Paris Hilton.
Stirring nah, this is serious mate
gg
Agree totally nun, why work when all the bludgers and greedy bastards who've never worked get more and more handouts.
gg
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Re: Repeat of 1975. GG Sacks Rudd
Exactly and this mortgage relief rubbish will just postpone the housing crash a little and put the banks under a lot of financial pressure.
Someone will pay and the only ones who can are those with a few bucks and perhaps a job.
Rudd's playing with fire, his ad hoc intervention could have massive adverse repercussions, you don't play with the economy of a nation as if it were your own personal tool for gaining popularity.
Exactly and this mortgage relief rubbish will just postpone the housing crash a little and put the banks under a lot of financial pressure.
Someone will pay and the only ones who can are those with a few bucks and perhaps a job.
Rudd's playing with fire, his ad hoc intervention could have massive adverse repercussions, you don't play with the economy of a nation as if it were your own personal tool for gaining popularity.
Garpal Gumnut
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Re: Repeat of 1975. GG Sacks Rudd
This from Channel 10 today via www.news.com.au.
It sounds familiarly like 1974/5.
http://www.news.com.au/story/0,27574,25292235-2,00.html
gg
THE coalition is prepared to block budget supply in the Senate if it believes the Federal Government is wasting taxpayers' money.
Earlier this year the coalition voted against Prime Minister Kevin Rudd's $42 billion economic stimulus package.
Opposition finance spokesman Joe Hockey says the coalition is prepared to do so again if next month's budget contains reckless spending measures.
"If there is waste, if there is mismanagement, we will oppose it," Mr Hockey told Channel 10.
"We have always opposed bad policy and we will continue to oppose bad policy."
gg
This from Channel 10 today via www.news.com.au.
It sounds familiarly like 1974/5.
http://www.news.com.au/story/0,27574,25292235-2,00.html
gg
THE coalition is prepared to block budget supply in the Senate if it believes the Federal Government is wasting taxpayers' money.
Earlier this year the coalition voted against Prime Minister Kevin Rudd's $42 billion economic stimulus package.
Opposition finance spokesman Joe Hockey says the coalition is prepared to do so again if next month's budget contains reckless spending measures.
"If there is waste, if there is mismanagement, we will oppose it," Mr Hockey told Channel 10.
"We have always opposed bad policy and we will continue to oppose bad policy."
gg
Julia
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Re: Repeat of 1975. GG Sacks Rudd
She gets all sorts of additional benefits because of the kids' disability.
She does not work but is for ever engaging in courses, counselling etc, all for free because she is a carer.
In the last two stimulus payments combined she will have received over $6000.
She's looking forward to a three week trip to London and the Continent.
Meantime, self funded retirees get nothing. Whacko! What a great system.
Sure is no doubt about ****** Labor governments!
PS See also my thread about dividend imputation being under threat.
Quite true. A relative of mine is a single mother with two deaf children.
She gets all sorts of additional benefits because of the kids' disability.
She does not work but is for ever engaging in courses, counselling etc, all for free because she is a carer.
In the last two stimulus payments combined she will have received over $6000.
She's looking forward to a three week trip to London and the Continent.
Meantime, self funded retirees get nothing. Whacko! What a great system.
Sure is no doubt about ****** Labor governments!
PS See also my thread about dividend imputation being under threat.
Re: Repeat of 1975. GG Sacks Rudd
Hi GG,
The chances of the Gov dissolving parliament are at or near zero. Here are some reasons.
Because the Coalition is so far behind Labor in the polls, and Turnbull has gained so little traction, there is no way (despite what they claim) that they would want an election any time soon. Turnbull's attempts to label the Global Financial Crisis, the Rudd Recession, just sound childish, and not even the economically naive are buying it. To take a divided Rudd-erless boat to an election would be spectacularly daft. Doesn't matter whether you love or hate Rudd. From an objective standpoint, he's a mile in front in the polls. Personally, I think his term so far has been a mix of botched and good policy, but a country mile in front of the clowns who were shown the door.
Switching to Costello, would also go splat. Labor, Coalition and other polling have consistently found him to be un-electable. He's also inextricably associated with Work Choices, which would make him even greater political poison in a time of rising unemployment. Costello has a loyal but small base of Liberal only voters and disliked by the rest. If they did make the switch to Costello or any other, I'd expect an early election to be called shortly after.
Regardless, as first term governments in Australia almost always call an early election to capitalise on there popularity, I'd be surprised if that's not the case this time around as well. Rudd would looking for an excuse right now.
GG of ASF may want parliament to be dissolved but the other GG won't be doing so in the near future.
Just as a footnote, before you chime in with predictions of the electorate turning on a sixpence and racing back to the coalition in their current state of dissarray, reflect on your previous prophecies of the same thing happening in the US and Australian elections. "McCain and Howard in a late landslide" or words to that effect. Someone seems to keep shooting the phoenix, dagnabit.
Hi GG,
The chances of the Gov dissolving parliament are at or near zero. Here are some reasons.
Because the Coalition is so far behind Labor in the polls, and Turnbull has gained so little traction, there is no way (despite what they claim) that they would want an election any time soon. Turnbull's attempts to label the Global Financial Crisis, the Rudd Recession, just sound childish, and not even the economically naive are buying it. To take a divided Rudd-erless boat to an election would be spectacularly daft. Doesn't matter whether you love or hate Rudd. From an objective standpoint, he's a mile in front in the polls. Personally, I think his term so far has been a mix of botched and good policy, but a country mile in front of the clowns who were shown the door.
Switching to Costello, would also go splat. Labor, Coalition and other polling have consistently found him to be un-electable. He's also inextricably associated with Work Choices, which would make him even greater political poison in a time of rising unemployment. Costello has a loyal but small base of Liberal only voters and disliked by the rest. If they did make the switch to Costello or any other, I'd expect an early election to be called shortly after.
Regardless, as first term governments in Australia almost always call an early election to capitalise on there popularity, I'd be surprised if that's not the case this time around as well. Rudd would looking for an excuse right now.
GG of ASF may want parliament to be dissolved but the other GG won't be doing so in the near future.
Just as a footnote, before you chime in with predictions of the electorate turning on a sixpence and racing back to the coalition in their current state of dissarray, reflect on your previous prophecies of the same thing happening in the US and Australian elections. "McCain and Howard in a late landslide" or words to that effect. Someone seems to keep shooting the phoenix, dagnabit.
Re: Repeat of 1975. GG Sacks Rudd
Hi Julia,
It's a curly one. Seems to me to be a case of "what's fair" VS "what works". An economy going into recession needs to be stimulated. That's a no brainer. Money directed towards self funded retirees, who by and large could be viewed as a deserving mob, would have a far greater percentage saved, than money in the hands of a perpetually broke spendaholic. Again, a flagging economy needs spending to be accelerated. Although the working poor could also be viewed as a deserving mob, no doubt there are others who are not the least deserving. Fair? No. Effective? yes. If the previous government weren't such atrocious managers of the economy, the ability to deal with current situation would have profoundly different.
Here's a quote from none other than the Member for Wingnuts, Tony Abbott:
THE Howard Government came to believe in "magic pudding" economics of lower taxes and increased spending during its last years in office, Tony Abbott says.
"The one thing that I am inclined to suggest might have changed or developed over the latter part of the Howard government's term, I think we did start to believe in magic pudding economics," Mr Abbott said.
"The fact we could have lower taxes, higher spending and bigger surpluses for about five years - in other words, we could have a magic pudding - led some people to think that thrift, prudence, responsibility had somehow become irrelevant," Mr Abbott said in a documentary by the Herald journalist Andrew West, for Background Briefing, to air on ABC Radio National tomorrow morning.
"It's never irrelevant, and I fear that we're somehow going to discover just how relevant those old fashioned economic virtues are in the next few years."
I think that's the only sensible thing I've heard from Abbott. In boom times, especially one as big as the last, personal income tax receipts increase, however company tax receipts soar. As the economy heads towards recession, the personal tax receipts decline whilst company tax receipts plummet.
The coalition, as I've mentioned before, out spent Whitlam in their final years. They also took the truly massive booty from companies and instead of saving for the inevitable bust, handed it back in the form of locked in tax cuts, often described as middle class welfare. This effectively created the perfect storm we are now seeing where there is a $200b hole in the budget, no war chest to alleviate the situation and no wriggle room regarding tax. Howard & co had already blown it.
They completely ignored the now commonly accepted fiscal truism of save in the good times and spend in the bad. When Howard's greatest fan begins to concede, I think you can assume they scewed up on a huge scale.
Sure is no doubt about ****** Coalition governments. lol
BTW, I've been out of the markets for what seems like forever. Be it good luck or good management, or a bit of both, I was fortunate to bail out before it hit the fan. I recall you jumped ship also. Have you ventured back in all? I got my toes wet with a couple of small trades, but may up the ante shortly, maybe, perhaps, possibly.
Hi Julia,
It's a curly one. Seems to me to be a case of "what's fair" VS "what works". An economy going into recession needs to be stimulated. That's a no brainer. Money directed towards self funded retirees, who by and large could be viewed as a deserving mob, would have a far greater percentage saved, than money in the hands of a perpetually broke spendaholic. Again, a flagging economy needs spending to be accelerated. Although the working poor could also be viewed as a deserving mob, no doubt there are others who are not the least deserving. Fair? No. Effective? yes. If the previous government weren't such atrocious managers of the economy, the ability to deal with current situation would have profoundly different.
Here's a quote from none other than the Member for Wingnuts, Tony Abbott:
THE Howard Government came to believe in "magic pudding" economics of lower taxes and increased spending during its last years in office, Tony Abbott says.
"The one thing that I am inclined to suggest might have changed or developed over the latter part of the Howard government's term, I think we did start to believe in magic pudding economics," Mr Abbott said.
"The fact we could have lower taxes, higher spending and bigger surpluses for about five years - in other words, we could have a magic pudding - led some people to think that thrift, prudence, responsibility had somehow become irrelevant," Mr Abbott said in a documentary by the Herald journalist Andrew West, for Background Briefing, to air on ABC Radio National tomorrow morning.
"It's never irrelevant, and I fear that we're somehow going to discover just how relevant those old fashioned economic virtues are in the next few years."
I think that's the only sensible thing I've heard from Abbott. In boom times, especially one as big as the last, personal income tax receipts increase, however company tax receipts soar. As the economy heads towards recession, the personal tax receipts decline whilst company tax receipts plummet.
The coalition, as I've mentioned before, out spent Whitlam in their final years. They also took the truly massive booty from companies and instead of saving for the inevitable bust, handed it back in the form of locked in tax cuts, often described as middle class welfare. This effectively created the perfect storm we are now seeing where there is a $200b hole in the budget, no war chest to alleviate the situation and no wriggle room regarding tax. Howard & co had already blown it.
They completely ignored the now commonly accepted fiscal truism of save in the good times and spend in the bad. When Howard's greatest fan begins to concede, I think you can assume they scewed up on a huge scale.
Sure is no doubt about ****** Coalition governments. lol
BTW, I've been out of the markets for what seems like forever. Be it good luck or good management, or a bit of both, I was fortunate to bail out before it hit the fan. I recall you jumped ship also. Have you ventured back in all? I got my toes wet with a couple of small trades, but may up the ante shortly, maybe, perhaps, possibly.
nulla nulla
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Re: Repeat of 1975. GG Sacks Rudd
Hmmmm.....thats a tough one, reckon it would be a close scrape between, iron bar tuckey, bronwyn bishop or joe hockey.
Hmmmm.....thats a tough one, reckon it would be a close scrape between, iron bar tuckey, bronwyn bishop or joe hockey.
Garpal Gumnut
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Re: Repeat of 1975. GG Sacks Rudd
I would agree with many of your points, well argued and explained , particularly the early election. that would be a good tactic.
Costello I think you underestimate, although he has been late to call his bet before and ran out of time, with a winning hand, and lost.
There are some other "disasters" and "rats" ready to come out of the Labor baggage later this year.
Also , Rudd is the only bloke I know of whose gone to a high class brothel all expenses paid and come away without a r**t.
It makes you wonder whether he isn't so much up himself and Obama that he may call an election too late. An Erection delayed as is said in Mandarin is an Erection wasted.
gg
I would agree with many of your points, well argued and explained , particularly the early election. that would be a good tactic.
Costello I think you underestimate, although he has been late to call his bet before and ran out of time, with a winning hand, and lost.
There are some other "disasters" and "rats" ready to come out of the Labor baggage later this year.
Also , Rudd is the only bloke I know of whose gone to a high class brothel all expenses paid and come away without a r**t.
It makes you wonder whether he isn't so much up himself and Obama that he may call an election too late. An Erection delayed as is said in Mandarin is an Erection wasted.
gg
Re: Repeat of 1975. GG Sacks Rudd
If he's smart rather than arrogant he'll call an early one and then run full term. By then things should be looking a lot better globally, and we'll hear the usual political grandstanding that you get from pollies in general. Three of Rudd's salient features that characterise him - smart, arrogant, pompous. At the moment. I think the electorate is viewing him as arrogant and pompous but smart and doing a good job. Pomposity and arrogance may wear thin after a bit, so he'll need a a positive economic backdrop further down the track for additional terms. It'd probably help him to revisit a strip joint, perhaps smoking a joint with a goony chaser, but be very, very, cordial.
If he's smart rather than arrogant he'll call an early one and then run full term. By then things should be looking a lot better globally, and we'll hear the usual political grandstanding that you get from pollies in general. Three of Rudd's salient features that characterise him - smart, arrogant, pompous. At the moment. I think the electorate is viewing him as arrogant and pompous but smart and doing a good job. Pomposity and arrogance may wear thin after a bit, so he'll need a a positive economic backdrop further down the track for additional terms. It'd probably help him to revisit a strip joint, perhaps smoking a joint with a goony chaser, but be very, very, cordial.
Julia
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Re: Repeat of 1975. GG Sacks Rudd
Skint, thanks for your rare but always interesting posts. I understand the point you're making about what is fair v what is effective, but geez, it still annoys me mightily.
Yes, as you recall, I've been out of the market since beginning of 08, other than a few short term trades. Just last week I put the first 'toe in thewater'
with a fairly small parcel of WBC.
And you? Still staying out?
Skint, thanks for your rare but always interesting posts. I understand the point you're making about what is fair v what is effective, but geez, it still annoys me mightily.
Yes, as you recall, I've been out of the market since beginning of 08, other than a few short term trades. Just last week I put the first 'toe in thewater'
with a fairly small parcel of WBC.
And you? Still staying out?
Re: Repeat of 1975. GG Sacks Rudd
Hi there,
Lately, I've been trawling mostly, but not exclusively, for low to mid cap stocks with strong cash backing relative to their market cap, and with a decent project. I've had a couple of S/T trades. CFE was one. Hopefully, I'll soon have a mix of longer term investments and trade the momentum on others. After being in the wilderness for so long, I have to occassionally tap myself on the shoulder to ensure I stick to the golden rule of "stick to the plan". All very exciting, but a lot more care is needed than during the bull market. Back then, it seemed if you owned a half reasonable stock, and it wasn't performing, all you had to do was wait 10 minutes. Good luck. I hope you make a motza.
Hi there,
Lately, I've been trawling mostly, but not exclusively, for low to mid cap stocks with strong cash backing relative to their market cap, and with a decent project. I've had a couple of S/T trades. CFE was one. Hopefully, I'll soon have a mix of longer term investments and trade the momentum on others. After being in the wilderness for so long, I have to occassionally tap myself on the shoulder to ensure I stick to the golden rule of "stick to the plan". All very exciting, but a lot more care is needed than during the bull market. Back then, it seemed if you owned a half reasonable stock, and it wasn't performing, all you had to do was wait 10 minutes. Good luck. I hope you make a motza.
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Re: Repeat of 1975. GG Sacks Rudd
Interesting viewpoint on a repeat dismissal GG, but I agree with Skint on this one. Some major differences between 75 and 09 :
Gough's first move was a double dissolution so he could have fresh elections with a shot at better control of the Senate. If the senate blocks a sufficient number of bills to really tick off Rudd we'd go down this path first, and with Kevs current high popularity the ALP just might wind up with a stronger representation in the Senate. The coalition DOES NOT want an election right now.
Wait for another 12 months when we’re deep into the recession, deeper in deficit, carrying inflation, interest rates and unemployment all at 15%, and it’s election time. The Australian public will do it, no need for our Pommy Head of State’s representative to get involved.
The sad thing is the coalition is equally bereft of original thought (hey, they’re conservatives, its what they pride themselves on), so we’re not going to be any better off.
Interesting viewpoint on a repeat dismissal GG, but I agree with Skint on this one. Some major differences between 75 and 09 :
Gough's first move was a double dissolution so he could have fresh elections with a shot at better control of the Senate. If the senate blocks a sufficient number of bills to really tick off Rudd we'd go down this path first, and with Kevs current high popularity the ALP just might wind up with a stronger representation in the Senate. The coalition DOES NOT want an election right now.
Wait for another 12 months when we’re deep into the recession, deeper in deficit, carrying inflation, interest rates and unemployment all at 15%, and it’s election time. The Australian public will do it, no need for our Pommy Head of State’s representative to get involved.
The sad thing is the coalition is equally bereft of original thought (hey, they’re conservatives, its what they pride themselves on), so we’re not going to be any better off.
