Yes, Forrest was most impressive.
I liked the part where he said, "a three legged dog could beat Swan". lol
Swan Named World's Best Treasurer LOL
- Thread starter Aussiejeff
- Start date
Yes, Forrest was most impressive.
I liked the part where he said, "a three legged dog could beat Swan". lol
Julia
In Memoriam
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Yes, agree. Mr Forrest didn't hold back at all and made his dislike and disgust with Swannie very clear. Good for him.Yes, Forrest was most impressive.
I liked the part where he said, "a three legged dog could beat Swan". lol
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25795
This link is to a paper titled "Accounting devices and fiscal illusions".
Swan will weave his magic to produce a surplus.
An article in the AFR titled "Abracadabra - Surplus!.
This explains how the MYEFO (midyear economic and fiscal outlook) contingency fund has been utilised.
In 2008 - 2009 expenses to the fund was $200 million.
However in 2011 - 2012 it was reduced by $1.7 billion.
The sort of moves for the coming budget 2012 - 2013 are apparent when reading the 2011 - 2012 MYEFO, Adjustments of $1.4 billion to Qld disaster relief and shifting $1.5 billion in compensation to 2011 - 2012 for the carbon tax .
Another instance was the reserve gave up $2 billion to help fund the $5.2 billion in savings the government "said it had found" since the previous budget update.
Finally Australia reports its budget in "underlying cash balance". This means the NBN and the Clean Energy Finance Corporation cost will not be included in the budget.
If the government was actually paying for the NBN through the Department of Communication rather than subscribing capital to NBN Co., then the budget would be in a deficit and not a surplus on present forecasts.
Swan will be pretending or attempting to smile on Tuesday night, but the body language will say otherwise.
The above suggest why.
joea
This link is to a paper titled "Accounting devices and fiscal illusions".
Swan will weave his magic to produce a surplus.
An article in the AFR titled "Abracadabra - Surplus!.
This explains how the MYEFO (midyear economic and fiscal outlook) contingency fund has been utilised.
In 2008 - 2009 expenses to the fund was $200 million.
However in 2011 - 2012 it was reduced by $1.7 billion.
The sort of moves for the coming budget 2012 - 2013 are apparent when reading the 2011 - 2012 MYEFO, Adjustments of $1.4 billion to Qld disaster relief and shifting $1.5 billion in compensation to 2011 - 2012 for the carbon tax .
Another instance was the reserve gave up $2 billion to help fund the $5.2 billion in savings the government "said it had found" since the previous budget update.
Finally Australia reports its budget in "underlying cash balance". This means the NBN and the Clean Energy Finance Corporation cost will not be included in the budget.
If the government was actually paying for the NBN through the Department of Communication rather than subscribing capital to NBN Co., then the budget would be in a deficit and not a surplus on present forecasts.
Swan will be pretending or attempting to smile on Tuesday night, but the body language will say otherwise.
The above suggest why.
joea
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Wayne Swan named the world's best treasurer
Lest we forget.
Lest we forget.
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Re: Wayne Swan named the world's best treasurer
This'll be a chapter in Labor's history they'll want to forget.
This'll be a chapter in Labor's history they'll want to forget.
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...then this happened....:fan
I say....burn him! :evilburn::angry::swear:
I say....burn him! :evilburn::angry::swear:
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Your childrens children might still be paying off the debt this idiot has created.
Just a thought.
Just a thought.
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An Ode to the World's best treasurer:
Faster than a speeding asylum boat,
More powerful than a carbon emission,
Able to leap tall deficits in a single bound ....
Is it a quail?
Is it a goose?
NO its SuperSwan!
Faster than a speeding asylum boat,
More powerful than a carbon emission,
Able to leap tall deficits in a single bound ....
Is it a quail?
Is it a goose?
NO its SuperSwan!
So who said Swan was the worlds greatest Treasurer?
From:
Sent: Monday, 3 June, 2013 9:28 AM
To:
Subject: Fw: Fwd: Fwd: FW: COMMENT FROM ROSS GREENWOOD (Scary Stuff )
This is not very long and definitely worth the read !
COMMENT FROM ROSS GREENWOOD (Financial presenter on Australian morning TV show)
Reality pill needed for Australians
This is really well put, in terms the average punter can understand... It cuts through political doublespeak and provides clarity
USA Today
Lesson # 1:
Why the U.S. Was downgraded:
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let's now remove 8 zeros and pretend it's a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385
Got It ?????
OK now Lesson # 2:
Here's another way to look at the Debt Ceiling:
Let's say, you come home from work and find there has been a sewer backup in your neighborhood ... And your home has sewage all the way up to your ceilings.
What do you think you should do?
Raise the ceilings, or pump out the (ummmm) "effluent"?
Lesson 3:
Australia today FROM ROSS GREENWOOD
Quoted by: Ross Greenwood of Money News..
Right now the Federal Government is at pains to tell everyone - including us the mug-punters and the International Monetary Fund, that it will not exceed its own, self-imposed, borrowing limits.
How much? $200 billion. And here's a worry.
If you work in a bank's money market operation; or if you are a politician; the millions turn into billions and it rolls off the tip of the tongue a bit too easily.
But every dollar that is borrowed, some time, has to be repaid. By you, by me and by the rest of the country.
Just after 5 o'clock tonight I did a bit of math for Jason Morrison (Sydney radio presenter). But it's so staggering its worth repeating now.
First thought; Gillard, Swan, Wong, before that Rudd, all of the Labor Cabinet, call these temporary borrowings, a temporary deficit.
Remember Those Words: Temporary Deficit.
The total Government debt will end up around $200 billion. So here's a very basic calculation.. I used a home loan calculator to work
it out..... it's that simple.. $200 billion is $2 hundred thousand million.
The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years. Now here's where it gets scary.... Really scary.
The repayments on $200 billion, come to more than one and a quarter billion dollars - every month - for 20 years.
It works out we - as taxpayers - will be repaying $15.4 billion in interest and principal every year..
$733 for every man woman and child - every year. The total interest bill over the 20 years is - get this - $108 billion.
Remember, this is a Government, that just 4 years ago, had NO debt. NO debt.
In fact, it had enough money to create the Future Fund, to pay the future liabilities of public servants' superannuation, and it had enough to stick $20 billion into the Building Australia Fund...
A note was sent to me which explains that the six leading members of the Government, from Ms Gillard down, have a collective work experience of 181 years, but only 13 in the private sector.
If you take out of those 13 years the number that were spent as trade union lawyers, 11, only two years were spent in the private sector.
So out of those 181 years:
- no years spent running their own business
- no years spent starting their own business
- no years spent as a director of a family business or a company
- no years as a director of a public company
- no years in a senior position in a public company
- no years in a senior position in a private company
- no years working in corporate finance
- no years in corporate or business restructuring
- no years working in or with a bank
- no years of experience in the capital markets
- no years in a stock-broking firm
- no years in negotiating debt facilities with banks
- no years running a small business
- no years at the World Bank or IMF or OECD
- no years in Treasury or Finance.
But these people have plunged Australia into unprecedented debt. Well, in a way you can't blame them. It's clear the electorate did not do their homework, because the Government is there by right.
Ah, but they are Labor and people vote for them because Labor is good for the working family - right???
If you have read this you may like to pass it on to your friends to help educate a little as you, them and I, will be repaying the above.
From:
Sent: Monday, 3 June, 2013 9:28 AM
To:
Subject: Fw: Fwd: Fwd: FW: COMMENT FROM ROSS GREENWOOD (Scary Stuff )
This is not very long and definitely worth the read !
COMMENT FROM ROSS GREENWOOD (Financial presenter on Australian morning TV show)
Reality pill needed for Australians
This is really well put, in terms the average punter can understand... It cuts through political doublespeak and provides clarity
USA Today
Lesson # 1:
Why the U.S. Was downgraded:
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let's now remove 8 zeros and pretend it's a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385
Got It ?????
OK now Lesson # 2:
Here's another way to look at the Debt Ceiling:
Let's say, you come home from work and find there has been a sewer backup in your neighborhood ... And your home has sewage all the way up to your ceilings.
What do you think you should do?
Raise the ceilings, or pump out the (ummmm) "effluent"?
Lesson 3:
Australia today FROM ROSS GREENWOOD
Quoted by: Ross Greenwood of Money News..
Right now the Federal Government is at pains to tell everyone - including us the mug-punters and the International Monetary Fund, that it will not exceed its own, self-imposed, borrowing limits.
How much? $200 billion. And here's a worry.
If you work in a bank's money market operation; or if you are a politician; the millions turn into billions and it rolls off the tip of the tongue a bit too easily.
But every dollar that is borrowed, some time, has to be repaid. By you, by me and by the rest of the country.
Just after 5 o'clock tonight I did a bit of math for Jason Morrison (Sydney radio presenter). But it's so staggering its worth repeating now.
First thought; Gillard, Swan, Wong, before that Rudd, all of the Labor Cabinet, call these temporary borrowings, a temporary deficit.
Remember Those Words: Temporary Deficit.
The total Government debt will end up around $200 billion. So here's a very basic calculation.. I used a home loan calculator to work
it out..... it's that simple.. $200 billion is $2 hundred thousand million.
The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years. Now here's where it gets scary.... Really scary.
The repayments on $200 billion, come to more than one and a quarter billion dollars - every month - for 20 years.
It works out we - as taxpayers - will be repaying $15.4 billion in interest and principal every year..
$733 for every man woman and child - every year. The total interest bill over the 20 years is - get this - $108 billion.
Remember, this is a Government, that just 4 years ago, had NO debt. NO debt.
In fact, it had enough money to create the Future Fund, to pay the future liabilities of public servants' superannuation, and it had enough to stick $20 billion into the Building Australia Fund...
A note was sent to me which explains that the six leading members of the Government, from Ms Gillard down, have a collective work experience of 181 years, but only 13 in the private sector.
If you take out of those 13 years the number that were spent as trade union lawyers, 11, only two years were spent in the private sector.
So out of those 181 years:
- no years spent running their own business
- no years spent starting their own business
- no years spent as a director of a family business or a company
- no years as a director of a public company
- no years in a senior position in a public company
- no years in a senior position in a private company
- no years working in corporate finance
- no years in corporate or business restructuring
- no years working in or with a bank
- no years of experience in the capital markets
- no years in a stock-broking firm
- no years in negotiating debt facilities with banks
- no years running a small business
- no years at the World Bank or IMF or OECD
- no years in Treasury or Finance.
But these people have plunged Australia into unprecedented debt. Well, in a way you can't blame them. It's clear the electorate did not do their homework, because the Government is there by right.
Ah, but they are Labor and people vote for them because Labor is good for the working family - right???
If you have read this you may like to pass it on to your friends to help educate a little as you, them and I, will be repaying the above.
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- 3
Which is why Labor are pushing the sexist card so, so much right now. The economic card is flashing **RED - DANGER!!** From the Labor electoral perspective, best not go anywhere near the Economic Credentials cupboard anymore eh? Lest the rout becometh a stampede....
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Some history on the world's best treasurer from an old article:
Read more:
http://www.theage.com.au/opinion/politics/swans-next-step-up-in-life-of-politics-20100624-z3ht.html
Read more:
http://www.theage.com.au/opinion/politics/swans-next-step-up-in-life-of-politics-20100624-z3ht.html
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Swan in question time.
Blaming Liberals for the eventual recession, as the Liberals keep mentioning a recession.
Clearly the only way to create a recession is to mention it - nothing to do with actual money or finances or budgets or deficits or anything like that.
Blaming Liberals for the eventual recession, as the Liberals keep mentioning a recession.
Clearly the only way to create a recession is to mention it - nothing to do with actual money or finances or budgets or deficits or anything like that.
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Sounds like Swanny knows what's coming.
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Well after nearly three years in the wilderness, Wayne pops his head up for another free hit.
http://www.theage.com.au/federal-po...epherd-over-labors-record-20140328-35od4.html
In response to Mr Swan's comments, Mr Shepherd said on Friday: ''My comments were not political - they were apolitical, as I am.
''My message was very similar to that recently delivered by [former Treasury secretary] Ken Henry and also Bob Hawke and Paul Keating.
''I don't for one second believe those policies [the NDIS and Gonski] are wrong or foolish - it is a question of affordability. Governments need to look beyond the next budget and forward estimates to the longer term.''
Mr Henry said earlier this month the country could not afford new social policies - such as the NDIS and the Gonski reforms - without increasing taxes or major budget cuts
Read more: http://www.smh.com.au/federal-polit...bors-record-20140328-35od4.html#ixzz2xFwdTSOx
But lets not let sensible economic judgement, overide political aspiration, or trying to justify ineptness. IMO
http://www.theage.com.au/federal-po...epherd-over-labors-record-20140328-35od4.html
In response to Mr Swan's comments, Mr Shepherd said on Friday: ''My comments were not political - they were apolitical, as I am.
''My message was very similar to that recently delivered by [former Treasury secretary] Ken Henry and also Bob Hawke and Paul Keating.
''I don't for one second believe those policies [the NDIS and Gonski] are wrong or foolish - it is a question of affordability. Governments need to look beyond the next budget and forward estimates to the longer term.''
Mr Henry said earlier this month the country could not afford new social policies - such as the NDIS and the Gonski reforms - without increasing taxes or major budget cuts
Read more: http://www.smh.com.au/federal-polit...bors-record-20140328-35od4.html#ixzz2xFwdTSOx
But lets not let sensible economic judgement, overide political aspiration, or trying to justify ineptness. IMO
Yes we will have a budget surplus in 2012/13 says the Worlds greatest treasurer and the Prime Minister Juliar Gillard and they said it 500 times. it was supposed to be a surplus of $1.5 billion...then it was a deficit of $11 billion, then $17billion and the $21 billion all within one month....but of course we now know the real result is $123 billion.....
Yes he was the worlds greatest treasurer.....and pigs might fly......and to think he was being paid for that and will continue to be paid handsomely after he quits parliament.
http://www.theaustralian.com.au/opi...ageous-decisions/story-fnbkvnk7-1226874995410
Yes he was the worlds greatest treasurer.....and pigs might fly......and to think he was being paid for that and will continue to be paid handsomely after he quits parliament.
http://www.theaustralian.com.au/opi...ageous-decisions/story-fnbkvnk7-1226874995410