Australian (ASX) Stock Market Forum

Australia faces worse crisis than America

Hey Bushman,

The royalties are all at the state government level. Should be at a Federal level IMO. That would help with debt reduction.

For’s and against.. but I think it’s probably best the way it is.. otherwise you will find that the 'spoils' generated by one state would be squandered on the states that happen to be of the current Federal political flavour.. ie Liberal states at the moment would get naff all.. I don't believe it would help with debt reduction though..

Liberals also loved tax cuts and big spending programs (Collins Class submarines anyone) and the like.

Hmmm.. I seem to remember big Kimmy B signing the Collins Class contracts, and I don't recall him being part of the Liberal line up..

Plus border protection, Iraq, baby bonus, first home owners grant and other such soma for the indebted classes.

Personally, I thought stopping the 'Boat people' was a good thing.. Can't imagine that it cost us much either as it was largely the Defence force employed to enforce the plan (myself included).. Certainly better to be doing something pro active rather than playing wargames with endless circles in the ocean.. Consider how much we have probably saved in building detention centers and additional welfare payments etc etc..

Iraq was a monumental c*ck up right from the word go.. but you get that..

Baby bonus, hmmm, paying for trailer trash to bang out sprogs for cash has always seemed to be flawed to my way of thinking.. I'd like to see a caveat for the bonus that you must have been employed for 24 months to be eligible.. May well 'raise' a better class of young ones, vice a generation that were 'had' purely for monetary gain. But I don't carry much weight in the political arena.. :)

Home Owners grant, I think you'll find it was available well before Johnny got to play in the sandbox.. Not the same sort of cash, but seem to recall around the $3K mark..

If Kevin07 does prove to be a real inflation fighter then maybe debt can be reduced? Who knows.

Can't see that there is really any credibility here either, just the past week we've had 3 or 4 groups lobbying for pay rises of around 21%.. one of the groups was Unskilled Labourers.. 21%.. Of course that’s after the teachers just got their increase approved, and has spurred them all on.. That’s how it all starts, wage inflation will lead the way, and he (Kev) does not appear inclined to dampen anybody’s spirits..

Australia has chronically under supplied on its infrastructure requirements over the last twenty years. While a current high inflationary environment means that infrastructure projects are on hold, Qld and WA state governments are cashed up and waiting on the sidelines. Could this be a rainy day industry to tide us over any commodity bubble bursting?

Agreed, but you can only do so much with what is available, and we have quite a small population.. don’t forget that in order to continue growth we need to buy the tools to enable the industries.. unfortunately we don't manufacture many of these tools ourselves, hence the (short term) deficit, then you have military assets etc..

I doubt anyone would argue that we need these assets, but you never know..

I think that QLD and WA don't currently have the 'personnel' resources to cope with building the expanding infrastructure needed as the personnel required are getting the big bucks in the mines, and they are simply unable to compete. If (and when) the commodity boom slows down then those personnel will be shifted into infrastructure, and at a lower cost to the local governments..

You don't buy stock at the top of the market, so why not let the local government get the most bang for their buck??

As you say this will alleviate any slowdown caused by the commodities coming off the boil.. I for one think that all this doom and gloom is a load of bunk.. I also think that we've got quite a lot to look forward too.. unlike some other countries..

Regards,

Buster
 
probably because so many poms want to flee england. this might be putting them off.

Strange phenomenon that. Everywhere I turn there is a flamin' Aussie that has fled Oz. :cautious: At any one time there are around 400,000 Aussies in the UK. add to that the EU citizens who are flooding here and you scarcely hear a pommie accent. Immigration TO UK is rampant... and not just from 3rd world hellholes.

The primary reason Poms want to leave.... the weather. LOL

I like it... hardly any hot days, I can go for a 50km ride and never raise a sweat... brilliant. Many Poms aren't happy unless it's 35 degrees and ignore all other factors.

For instance, here we are in high summer and it's chilly and overcast, but it was warm on the weekend. I like that and so do many, but heaps grizzle about it.

The other factor is that the press is incredibly negative here. There is a huge thing on at the moment about knife crime and folks believe they are going to get stabbed every time they go to the shop to pick up The Sun. Yet in reality, there are more stabbings in Naples than in the whole of the UK. Outside a certain demographic, your chances of getting stabbed are almost zero.

Another thing, some towns are truly dire and blighted... sh!tholes to be frank. I'd want to get the hell out too. But the nice towns are brilliant. Where I live is fantastic; happy as a pig in mud.

http://www.cheltenham4u.co.uk/cheltenham.asp
 
I like it... hardly any hot days, I can go for a 50km ride and never raise a sweat... brilliant. Many Poms aren't happy unless it's 35 degrees and ignore all other factors.

For instance, here we are in high summer and it's chilly and overcast, but it was warm on the weekend. I like that and so do many, but heaps grizzle about it.

Ditto. Just got back from southern Germany where it's been hot, hot, hot. Glad to be back in cool Scandinavia. Now off to the gym to try and induce a sweat ;) (seriously).
 
Another nice spot I must visit again soon... maybe around Oktober. :D

Actually I was in the Mosel and Rhine valley, so not the southern Germany you are thinking of. Would love to visit that part too though, I've heard it's perhaps the nicest. Off to Berlin in November...that promises to be interesting.
 
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