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Swan Named World's Best Treasurer LOL

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Wayne can you help me, my shares are falling to GFC levels. Apparently you are the worlds best treasurer and we are in a resources boom, why is my portfolio going to s#!t?
 
Looking at most of the posts in this thread, it appears that the world's greatest treasurer has something to do with Wayne.

I am of the opinion that it says a lot more about the award giver than anything else. If this is the best, then god help us all.

brty
 
brty said:
I am of the opinion that it says a lot more about the award giver than anything else. If this is the best, then god help us all.

brty
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Agree. Just another international award that lacks credibility IMO (Like the Nobel Peace prize).

Australian economy survived the GFC despite Wayne Swan not because of him.
 
pixel said:
Note: It wasn't the Government initiative's fault that so many insulation batts were installed shabbily or so many school projects ripped-off. The true culprits were the shonky operators. Some flow-on effect from our convict "heritage" maybe??? ;)
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Convict heritage???? I think not. The whole convict heritage thing is a complete furphy, as a nation of immigrants most people are not from convict stock anyway (not that I think those who are are in any way shonky bye the way). Compared to other countries I think Australia is comparitively free of shonky operaters EXCEPT it would seem when it comes to Govt initiatives :rolleyes:. The BER operated slightly differently for private schools who were given the money and controlled how it was spent, those projects gave much better value for money than did the ones run by the education departments. I think the problem was not shnonky operators but the way the scheme was set up which allowed for exploitation. If the government is going to do such things the onus on them is to 'shonk' proof them. I don't actually think that's an easy task for a bureaucracy so a better path to stimulate the economy would have been tax cuts IMO.
 
brty said:
Looking at most of the posts in this thread, it appears that the world's greatest treasurer has something to do with Wayne.

I am of the opinion that it says a lot more about the award giver than anything else. If this is the best, then god help us all.

brty
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I dunno. At least they are consistent;

Euromoney 2006 Best Investment Bank – Lehman Brothers (Gone 2008)
Euromoney 2006 Best Equity House – Morgan Stanley (Bailed out 2008)
Euromoney 2006 Best at Risk Management – Bear Sterns (Gone 2008)
Euromoney 2006 Best at Investor Services – Citigroup (Bailed out 2008
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http://www.rwm.com.au/tag/euromoney-award-winners/
 
Well I have been thinking the only way we can get rid of Federal Labor is to run them out of money.
Now what plan would be necessary to achieve this?

But wait, hold a sec, take a breather, they maybe able to achieve this themselves.

http://www.theaustralian.com.au/nat...s-revenue-tumble/story-fn59nsif-1226330850202

It appears Wayne Swan will need a little cover to put over the trophy "for the worlds best treasurer" on these bad days.:eek:

So will the Greens join the coalition to reuse lifting Australia's debt still further.???

Whoops!! No doubt Tony distracted him when he was operating his "chinese counting beads". The electronic calculator is "buggered", it will not provide a surplus.:D

Was wondering why this went to air? Oh that's right, Wayne is over seas. I have been noticing this of late, bad news for Labor now seems to coincide with the appropriate MP over seas.

joea
 
Eager said:
But this:
http://www.news.com.au/business/bre...st-imf-forecasts/story-e6frfkur-1226330822328

Good economies don't come by accident, joea.
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Yes it took the libs to set it up.
At the height of the tech bubble back in the late 90's labor continually harped on about backing the tech sector and ditching setting up the mining sector. Awesome skills there:rolleyes:
Labor managing to destroy business sentiment and taxing everything that moves will have flow on effects down the track. I would say sooner than later. Labors lack of skill in developing trade relationships is also a worry. Swan is a lightweight setting us up to fail.
 
Eager said:
But this:
http://www.news.com.au/business/bre...st-imf-forecasts/story-e6frfkur-1226330822328

Good economies don't come by accident, joea.
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Not everyone agrees that it is so good.

Australia is beginning to lag behind OECD countries as a whole when it comes to economic performance.
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Read more from Crikey: Australia’s lagging economic performance


And what about jobs that are now going to NZ because their work laws are not so restrictive? This surely can't be good for the Aussie economy.

HUNDREDS of Australian jobs have been shifted to New Zealand as local producers try to avoid the impact of high wages, a soaring Australian dollar and restrictive labour laws.
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Read more from the Brisbane Times: Australian jobs on the move to NZ
 
So_Cynical said:
Yep great set up :rolleyes:...basically do nothing after the set up by Hawke Keating
and somehow take credit for it. :rolleyes:
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I agree. Productivity growth has been non-existent since about 2001. The heavy lifting that Hawke/Keating did puts this current mob in Canberra to shame.

But, but, but the budget was in surplus under Howard/Costello.
 
McLovin said:
I agree. Productivity growth has been non-existent since about 2001. The heavy lifting that Hawke/Keating did puts this current mob in Canberra to shame.

But, but, but the budget was in surplus under Howard/Costello.
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A budget surplus is pretty easy to do if you have a Govt that did all the hard work and took the political knocks before you, and you do nothing (don't spend) and the economy booms along with tax revenues doubling.
 
So_Cynical said:
A budget surplus is pretty easy to do if you have a Govt that did all the hard work and took the political knocks before you, and you do nothing (don't spend) and the economy booms along with tax revenues doubling.
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I was being sarcastic about the surplus.:)

Although to be fair, I would say the Libs probably did a better job than the ALP would have done in cutting spending. Whether you disagree or agree with them, centre-left parties tend to spend more on social programs than centre-right.
 
So_Cynical said:
A budget surplus is pretty easy to do if you have a Govt that did all the hard work and took the political knocks before you, and you do nothing (don't spend) and the economy booms along with tax revenues doubling.
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The Reserve Bank's index of commodity prices shows an all-time high in March 2011. The index is nearly double where it was in 2006 and triple the levels of the late 1990s.
So what’s labors current excuse? The libs payed off government debt when there was no boom. Given we may be at the ass end of a mining boom cycle what industry is going to save our ass in the future? Green tech :banghead:
Costello provided tax cuts that actually shared the wealth around, a more competitive tax system a sovereign wealth fund, IR laws, while providing a budget surplus. I’m pretty sure productivity ran above average under Howard.

But you think wasting money on Pink batts, big government and the long list of labor failures to date is money well spent. NBN is about the only thing I would agree with atm and no doubt price will blow out. We went into how much debt (while under better conditions then the libs enjoyed mind you) and now how many billions of dollars leave the economy each year to service debt? And now with the carbon tax we will be sending more money overseas while taxing us more to achieve nothing. Yeah great policies there, tax us more than ever.

If labor were in govt during the Howard years and backed tech right before the bust I wonder if we would have ended up like the euro zone. Libs under Howard were the right government for the time. I didn't agree with everything they did, but they sure as hell were better than the current mob.

Labor today enjoyed better conditions, no debt (a surplus in fact) a more competitive tax system, better IR laws, sovereign fund a good relationship with China etc and still manage to start turning business conditions backwards and cost of living conditions higher. I also question labors ability to develop trade relationships with other countries.
In saying all this I don't like/ or have much faith in the current lib front bench either.
 
McLovin said:
Although to be fair, I would say the Libs probably did a better job than the ALP would have done in cutting spending. Whether you disagree or agree with them, centre-left parties tend to spend more on social programs than centre-right.
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When an election happens, and if the coalition win, they are going to have a real battle.
We know they can cut costs. However this time in they have to deal with huge debt, but in the meantime build infrastructure around Australia.
That is going to be a real balancing act.

Would Costello be involved?;)
Did Howard have the brakes on Costello in the infrastructure area?
Will Australia need a "touch" economy?
Who would be most suitable to put all the little bits in the correct order to maximise growth? i.e. rates, Australian dollar, etc. etc.:confused:

This post above by McLovin points to the necessity of a better balancing act than we would normally expect from an incoming government.

joea
 
Does his belief that there is no link between government spending and interest rates make him the best treasurer in the world?

or

Does his belief that there is a link between government spending and interest rates make him the best treasurer in the world?

Which one is it or, as he has shown, can it be a liquid believe depending what time it is?
 
dutchie said:
Does his belief that there is no link between government spending and interest rates make him the best treasurer in the world?

or

Does his belief that there is a link between government spending and interest rates make him the best treasurer in the world?

Which one is it or, as he has shown, can it be a liquid believe depending what time it is?
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Well I honestly think no matter what his belief is, he is far from the best treasurer in the world.
Actually he is probably hoping there is an early election, then he can take his trophy and sit in opposition.
I will send him the "silvo" to keep it polished.
joea
 
The Goose has a lot to answer to Australia by what Andrew 'Twiggy' Forrest has said about certain events involving the Treasurer and Fortescue.

Watch the National Press Club Address which was on today if you get a chance.
 
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