Kevin Rudd

[Bushman]

Re: Is Kevin Rudd an 'economic conservative'?

His baaaccckkkk.....the ecocon warrior!

From The Age:

“The key thing that I believe in is responsible economic management,” Mr Rudd told ABC's Radio National.

“The core element of conservative economic management, in which I believe, is expanding the role of government in the economy when the private sector is in retreat.

“Had we not done that we would have had a quarter of a million more Australians out of work, many small business collapsing.

“Now that the economy globally is on a pathway to recovery it's time for the role of government to retreat. That's what conservative economic management is all about. That's what I believe in.”

 

[trainspotter]

Re: Is Kevin Rudd an 'economic conservative'?

His baaaccckkkk.....the ecocon warrior!

From The Age:

“The key thing that I believe in is responsible economic management,” Mr Rudd told ABC's Radio National.

“The core element of conservative economic management, in which I believe, is expanding the role of government in the economy when the private sector is in retreat.

“Had we not done that we would have had a quarter of a million more Australians out of work, many small business collapsing.

“Now that the economy globally is on a pathway to recovery it's time for the role of government to retreat. That's what conservative economic management is all about. That's what I believe in.”

So does this mean the Govt is cutting back on the stimulus? Didn't Kevin07 recently state that the stimulus was necessary due to the problems with Greece?

 

[Mofra]

Re: Is Kevin Rudd an 'economic conservative'?

Is Rudd a conservative? Yes. I haven't heard much in the way of strategic defence of the resource super-tax, but it makes perfect (conservative) sense to me to 'conserve' or rather, to maintain as long as possible, our resources which we all own, as citizens not just the mining co. shareholders.

I have to disagree here - a tax and spend philosophy is not consistant with self-proclaimed economic conservatism, and his bailouts are very much (as Wayne has also pointed out) very much a Keynesian attitude.

In terms of the most recent budget, the end of the deficit is dependant on forecasts of the Chinese demand for our raw resources continuing to boom - the estimate of this demand is up to 2020! Banking our future purely on the whims of any nation should be regarded as folly IMO.

 

[GumbyLearner]

Re: Does Rudd inspire confidence?

This is for Whiskers and his hat's theory. Dream on mate still want to save a little to not worry like Big Kev and his untouchable wife.



Nice hat by the way! Where's Kev's hat??? Back at Churchie!!!

 

[bunyip]

Re: Is Kevin Rudd an 'economic conservative'?

In the midst of this debate about the virtues (or lack thereof) of our government, maybe it's time for a bit of humour!


The Rudd government has announced that it's changing its national symbol to a condom because it more accurately reflects the governments political stance.
A condom allows for inflation, halts production, destroys the next generation while at the same time protecting a bunch of pricks, and gives you a sense of security while you're being screwed.
Damn - it just doesn't get any more accurate than that!

 

[todster]

Re: Is Kevin Rudd an 'economic conservative'?

In the midst of this debate about the virtues (or lack thereof) of our government, maybe it's time for a bit of humour!


The Rudd government has announced that it's changing its national symbol to a condom because it more accurately reflects the governments political stance.
A condom allows for inflation, halts production, destroys the next generation while at the same time protecting a bunch of pricks, and gives you a sense of security while you're being screwed.
Damn - it just doesn't get any more accurate than that!

What does Tony think about condoms,does he share the Popes view?

 

[moXJO]

Re: Is Kevin Rudd an 'economic conservative'?

does he share the Popes view?

Altar boys?

Wait, do I go to hell for saying that

 

[Calliope]

Re: Is Kevin Rudd an 'economic conservative'?

The key thing that I believe in is responsible economic management,” Mr Rudd told ABC's Radio National.

The problem is that Rudd is a liar.

How can you tell when he is lying?

When he opens his mouth.

 

[moXJO]

Re: Is Kevin Rudd an 'economic conservative'?

THE Government's claim to fiscal rectitude is an utter sham. Wayne Swan's budget is built on two great fiddles.
Appropriately, the fiddles relate to the Rudd Government's two great stupidities -- the National Broadband Network and the Emissions Trading Scheme.

The fiddles enable the Government to hide up to a massive $50 billion of new spending. So much for the claim they've pulled the pursestrings tight.

They also enable the Government to 'keep' the growth in spending in the 2013-14 year to just 1.9 per cent. Without the fiddles, spending would actually have grown by at least 3.5 per cent in that year - shattering the Government's 2 per cent ceiling.

More here

I think a lot of the public also do not understand that when the budget goes back to surplus is when the debt starts being paid off. A lot of people I talk to seem to think it's when the debt is paid off fully.

 

[matty77]

Re: Is Kevin Rudd an 'economic conservative'?

economic responsiblity is getting thrown around alot for the budget, but the fact is, and can i just say, they hard working familes of australia are sick of the government wasting money.

 

[bunyip]

Re: Is Kevin Rudd an 'economic conservative'?

Here's some more light reading.....

http://www.smh.com.au/opinion/politics/swans-balancing-act-wont-add-up-20100512-uxyv.html

 

[bunyip]

Re: Is Kevin Rudd an 'economic conservative'?

Ivor Ries of EL & C Baillieu Stockbroking describes the folly of Kevin Rudd’s great $9 billion “super profits” tax:


The Resources Super Profits Tax will generate no new revenue for five years, and has stopped new projects dead.

There are 270 major resource projects in Australia undergoing feasibility studies and financing with a total capital value of $320 billion. These projects would have employed somewhere around about 120,000 people during the construction phase.

The Resources Super Profits Tax has stopped them dead in their tracks. All of those projects are now frozen. There are probably about 20,000 engineers working on these projects and by the end of the month half of them will be unemployed.

Over the past few days I’ve been struggling to come up with a couple of phrases that sum up the new Resource Super Profits Tax and after considering a great many options – most of them unprintable – I’ve settled on two: “sheer arrogance” and “vast stupidity"…

This tax will generate no new revenue (until 2015) because the forecasts in the RSPT document failed to take into account all the projects that are going to be put on ice as a result. The government’s forecast of an additional $9 billion in revenue from 2013-14 is rubbish and I bet there’s not a single Treasury official who will stand behind that number today.



and

UPDATE

Macquarie Private Wealth Premium Research warns its subscribers:


The truly scary aspect of this is the lack of understanding from Rudd and Swann towards equity risk premiums. The equity risk premium is the extra return an investor is paid in return for taking equity risk. The new tax is slated to apply if a business earns more than a 6% return (equal to the rate paid on “risk free” government bonds). Effectively they are saying we should not bother investing in industry that offers a better return than government bonds or they will double tax you.

Our strategist asked Treasurer Swann a question yesterday on this issue and asked why the tax kicked in when returns exceeded the bond rate rather than the bond rate + an equity risk premium of say 5% (otherwise known as a companies cost of capital). Swann did not understand the question no matter how it was re-phrased - in other words the treasurer of Australia does not know what the cost of capital is for Australian companies. This is economics 101!

Comments from our Strategist Neale Goldston-Morris - Capital will continue to flow from Australia until either Labor loses the election or this tax is dropped. This is the greatest sovereign event Australia has faced since 1974 when Gough Whitlam was ousted.

I will continue to direct my clients funds towards the US until we see clarity in this situation.

 

[trainspotter]

Re: Does Rudd inspire confidence?

Not sure if this one belongs in here or in the joke thread or in the Peter Garrett thread but I am sure the mod squad will sort it out for me:

The Australian Government and the NSW Forestry Service were presenting an alternative to NSW sheep farmers for controlling the dingo population.

It seems that after years of the sheep farmers using the tried and true methods of shooting and/or trapping the predators, the Labor Government (Peter Garrett - Environmental Minister), the NSW Forestry Service and the Greens tree-huggers had a 'more humane' solution.

What they proposed was for the animals to be captured alive, the males would then be castrated and let loose again. Therefore the population would be controlled.

This was ACTUALLY proposed to the NSW Sheep farmers Association and Farming Association by the Federal Government and the NSW Forestry Service.

All of the sheep farmers thought about this amazing idea for a couple of minutes. Finally, one of the old boys in the back of the conference room stood up, tipped his hat back and said, ‘Mr Garrett, son, I don't think you understand our problem. Those dingo’s ain't ****in' our sheep - they're eatin' 'em.'

You should have been there to hear the roar of laughter as Mr Peter Garrett and the members of the NSW Forestry Service , the Greens and the other "tree huggers" left the meeting very "sheepishly".

 

[drsmith]

Re: Does Rudd inspire confidence?

Compared to Kevin Rudd, Michael Pascoe would get down on his knees for Julia Gillard.

http://www.smh.com.au/business/julia-for-pm-20100514-v2do.html

 

[Julia]

Re: Does Rudd inspire confidence?

First rate article, as usual, by Michael Pascoe. I think a lot of people would agree with him.

I'd go for the combination of Gillard and Tanner over Rudd and Swan by a long shot, and also over Abbott and Hockey who are a long way from looking ready to govern.

Julia Gillard has demonstrated courage and determination in the fight with the fairly powerful Teachers' Union over the NAPLAN tests. At no stage did she lose her cool or rant as did her leader on the 7.30 Report last night. If one can put the voice aside, and her continued tendency to 'stick on message' rather than answer specific questions, there's quite a lot to admire about Ms Gillard imo.

And Mr Tanner breaks the Labor Party mould by actually answering questions quite sensibly, and acknowledging the reality of the mistakes. He seems a fairly genuine and credible person.

 

[drsmith]

Re: Does Rudd inspire confidence?

First rate article, as usual, by Michael Pascoe.

Agreed. Struck me as very much unbiased.

 

[trainspotter]

Re: Does Rudd inspire confidence?

Breaking news - Bob Hawke has anointed Julia Gizzard for a leadership spill. Apparently overheard that he is backing the barren one for leadership potential. Et tu Brute'. It would seem that there are some rumblings in the Labor camp. OH OH ! Watch your back Kev.

 

[Julia]

Re: Does Rudd inspire confidence?

Breaking news - Bob Hawke has anointed Julia Gizzard for a leadership spill. Apparently overheard that he is backing the barren one for leadership potential. Et tu Brute'. It would seem that there are some rumblings in the Labor camp. OH OH ! Watch your back Kev.

Is the above just your usual romanticising, TS, or is it actually true that Bob Hawke has made this comment?

 

[trainspotter]

Re: Does Rudd inspire confidence?

Is the above just your usual romanticising, TS, or is it actually true that Bob Hawke has made this comment?

Julia, the proof is in the media that has flashed before my very eyes. Bob Hawke was overheard uttering such very "Ides of March".

http://www.heraldsun.com.au/news/na...ia-gillard-as-pm/story-e6frf7l6-1225867002154

Is that the sound of a party beginning to fracture?

 

[gav]

Re: Does Rudd inspire confidence?

Is the above just your usual romanticising, TS, or is it actually true that Bob Hawke has made this comment?

I don't know if Hawke actually made this comment Julia, but a recent TV news update says he did...