Australian economy heading for meltdown!

[Glen48]

Maybe Swan put to much downward pressure on Inflation and the balloon went poped leaving us in this mess?
Mr. Burns as a big fan of your I will send a few bucks along if I can get in to your cabinet however will there be spirits and other goodies inside?
I have sent of my loot to be nominated for OZ of the Yr but I am afraid Professor Noel Pearson will get the nod good choice, look at all the things he has done to advance the Originals, things such as ( any one help?)
Good to see Turn Bull telling Rudd and Co. we need jobs now all he has to do it tell us how to go about it.

 

[MrBurns]

Maybe Swan put to much downward pressure on Inflation and the balloon went poped leaving us in this mess?
Mr. Burns as a big fan of your I will send a few bucks along if I can get in to your cabinet however will there be spirits and other goodies inside?
I have sent of my loot to be nominated for OZ of the Yr but I am afraid Professor Noel Pearson will get the nod good choice, look at all the things he has done to advance the Originals, things such as ( any one help?)
Good to see Turn Bull telling Rudd and Co. we need jobs now all he has to do it tell us how to go about it.

Sorry I havent replied for a while I was overseas telling the world how to run things. My cabinet is shaping up well and yes there will be a full bar and plenty of girls to help fill in the few minutes between overseas jaunts on the insistance of my good pal the Australian Tax Payer.

 

[Wysiwyg]

Sorry I havent replied for a while I was overseas telling the world how to run things. My cabinet is shaping up well and yes there will be a full bar and plenty of girls to help fill in the few minutes between overseas jaunts on the insistance of my good pal the Australian Tax Payer.

I actually want to know what you would do different?I did not see you on the federal ballot paper at election time so are you still gaining experience?

On second thoughts, don`t answer, you do not have a clue.

On third thoughts, you`re criticism is welcome.Total government control of what we can and can`t do is NOT the route to a freer society.

 

[Glen48]

Sorry Mr. Burns don't know how Krudd got to reply to my message it was meant for you.

 

[MrBurns]

I actually want to know what you would do different?I did not see you on the federal ballot paper at election time so are you still gaining experience?

On second thoughts, don`t answer, you do not have a clue.

On third thoughts, you`re criticism is welcome.Total government control of what we can and can`t do is NOT the route to a freer society.

Oh poor wysiwyg is all flustered and huffing and puffing because someone had the audacity to say something about Queen Rudd.
Just have an aspirin and lie down.

I wouldn't have given cash away at Christmas.
I wouldn't be propping up the commercial property sector, they're big boys and can look after themselves, most of them have already been broke several times.
I would reform the tax system urgently and try to get taxes down as much as possible then use the surplus to take care of the million or so that will be out of work before long.

Oh yes and I wouldnt have Swan as treasurer, you may as well give the job to the cat.

There you go wysiwyg, what do you think of that.

On second thoughts, don`t answer, you do not have a clue.

 

[MrBurns]

Sorry Mr. Burns don't know how Krudd got to reply to my message it was meant for you.

I'm practising how to be PM obviously KRudd didnt practise enough.

 

[Glen48]

A quick 10 minutes should do the job. Mr.B
I am starting to think the Feds know spending money is a waste to effort however they have no other alternative and need the voters to think they have it all under control and they also realise the housing industry needs supporting because of the money it generates and it is another feel good policy.
Nero had the right idea at least when he was finished construction could begin again here we can't even get this recession under way so we can work towards an end.

 

[Wysiwyg]

Oh poor wysiwyg is all flustered and huffing and puffing because someone had the audacity to say something about Queen Rudd.
Just have an aspirin and lie down.

I would reform the tax system urgently and try to get taxes down as much as possible then use the surplus to take care of the million or so that will be out of work before long.

There you go wysiwyg, what do you think of that.

On second thoughts, don`t answer, you do not have a clue.

Thankyou, your tax system reform comprehensively covers all aspects that have been the bane of Australian workers since the first pick-pocket sod beached his moraless foot.

1788 – 1880

When our first Governor, Governor Phillip, arrived in New South Wales in 1788, he had a Royal Instruction that gave him power to impose taxation if the colony needed it.

The first taxes in Australia were raised to help pay for the completion of Sydney's first gaol and provide for the orphans of the colony. Import duties were put on spirits, wine and beer and later on luxury goods.

After 1824 the Government of New South Wales raised extra revenue from customs and excise duties. These were the most important sources of money for the colony's Government throughout the 19th century. Taxes were raised on spirits, beer, tobacco, cigars and cigarettes.

These taxes would vary between States, or colonies as they were then called. Even today, taxes still differ according to which State you live in.

Colonial governments also raised money from fees on wills and stamp duty, which is a tax imposed on certain kinds of documents.

In 1880 the Colony of Tasmania imposed a tax on income received from the profits of public companies. Four years later, a general tax on income was introduced in South Australia, and in 1895 income tax was introduced in New South Wales at the rate of six pence in the pound.

 

[theasxgorilla]

Well I campaigned for the Senate last election, so at least I have some experience! Tell you what, make me minister for communications and I'll get this damn National Broadband Network kicking along and kill off the "great firewall of censorship" that Conroy is pushing

Amen to that brother...VOTE 1 Marklar!

 

[Aussiejeff]

Maybe Swan put to much downward pressure on Inflation and the balloon went poped leaving us in this mess?
Mr. Burns as a big fan of your I will send a few bucks along if I can get in to your cabinet however will there be spirits and other goodies inside?
I have sent of my loot to be nominated for OZ of the Yr but I am afraid Professor Noel Pearson will get the nod good choice, look at all the things he has done to advance the Originals, things such as ( any one help?)
Good to see Turn Bull telling Rudd and Co. we need jobs now all he has to do it tell us how to go about it.

Unfortunately, chain smoking infants are banned from nomination. We live in a cruel world.

 

[Julia]

One person who does not deserve to be nominated is Tony Abbott.

He has suggested that John Howard's US Presidential Medal of Freedom is superior to hero Trooper Mark Donaldson's Victoria Cross!!

He said: "If there was anyone in politics who deserved a medal for political courage, it was John Howard".

 

[Glen48]

Howard should go down as the worst PM ever. Spending $380M tell us how good GST will be when we had no choice on voting on it. Spend million telling us how good Work Choices will be then pulping millions of books because he wanted to change a few words.
Allowing mortgage brokers to start up as long as they had a pulse and then not jumping on low doc loans.
Bring in the FHO so millions of Aussies can get into debt and push the house prices up.
Have to stop my Blood is boiling.

 

[sinner]

One person who does not deserve to be nominated is Tony Abbott.

He has suggested that John Howard's US Presidential Medal of Freedom is superior to hero Trooper Mark Donaldson's Victoria Cross!!

He said: "If there was anyone in politics who deserved a medal for political courage, it was John Howard".

I am surprised after years if not decades of ethical malfeasance and worse, it took some idiotic statement to get people to vilify him.

Nobody cared when he was meddling in Indigenous affairs or higher education or abortion rights or anything really!

But say one thing against a digger and you're scum now.

EDIT: He didn't even say anything against the digger now I think about it.

 

[Julia]

I am surprised after years if not decades of ethical malfeasance and worse, it took some idiotic statement to get people to vilify him.

Nobody cared when he was meddling in Indigenous affairs or higher education or abortion rights or anything really!

I don't think that's right, Sinner. Many of us were appalled by Mr Abbott for the entire time he was a Minister. But the fact is that he was in fact a Minister and any protests were dismissed.

Imo there is no place in any government for people with their own strong religious barrows to push.

 

[numbercruncher]

Yes Abott is pretty much a religous extremist, the Liberal party were in bed with nutters like the exclusive Brethren, thank goodness we sacked em.

 

[overlap]

Maybe this belongs in a property thread too.

http://www.theaustralian.news.com.au/story/0,25197,24962641-601,00.html

Turnbull says let market decide

MALCOLM Turnbull wants Kevin Rudd to allow the market to "run its course" on commercial property values despite government fears the global financial crisis could drive a collapse that would threaten 50,000 Australian jobs.

And the Opposition Leader has accused the Prime Minister of padding bank profits instead of helping small and medium-sized employers struggling to keep afloat in the face of the worsening credit squeeze.

As the global financial crisis continued to dominate politics yesterday, Mr Rudd savaged Mr Turnbull, saying he was "a market fundamentalist" unwilling to act to protect families.

The debate on the proper role of government in the economic slowdown came just a day after Wayne Swan told a meeting of business people in New York the crisis had exposed opponents of government regulation of markets as "false prophets".

On Saturday, Mr Rudd said he would pump $2 billion of public money into a credit fund accessible by owners of commercial property such as shopping centres and office buildings if they lost access to foreign loans.

With up to $75 billion in offshore loans due to be rolled over in the next two years, Mr Rudd said a third of the 150,000 jobs in the commercial property sector would be at risk if he failed to act to preserve stability and maintain property values.

Yesterday, as the Australian Chamber of Commerce and Industry backed Mr Rudd's plan, Mr Turnbull claimed Mr Rudd was misleading the public.

The lawyer and former merchant banker said the fund, which would be supplemented by a further $2 billion from banks, was more about maintaining asset values and bank profits than protecting jobs.

He said that if a property owner was forced to sell because of the withdrawal of foreign finance, the building would continue to exist and operate in new ownership without job losses among its tenants or maintenance staff.

"The market should take its course," Mr Turnbull told The Australian. "It was put to him (Mr Rudd) by banks as a means of protecting their balance sheets. It's designed to prop up or hold up prices in the commercial property sector."

Commenting on strong support for the move by the construction sector, Mr Turnbull said: "They've been had. This has nothing to do with the construction sector. It is about assets.

"The Government's got to articulate what it wants to protect, rather than simply accommodating any request by the big four banks."

Mr Turnbull said the real challenge on jobs was the credit squeeze facing small and medium-sized employers who had to pay more for loans or could simply not obtain credit.

Mr Rudd seized on the comments to accuse Mr Turnbull of having no plan to protect jobs. "His do-nothing approach is jeopardising tens of thousands of jobs," Mr Rudd told The Australian.

He said that while the Government was determined to do whatever it could to support jobs, Mr Turnbull was a market fundamentalist who believed "it all sorts itself out in the end - that markets automatically self-stabilise".

"This Government is not prepared to sit on our hands while the global recession wreaks havoc," he said. "It's very easy to carp from the sidelines, but I think a lot of Australian families - particularly those whose jobs may be at risk in this sector - will be asking: 'Well, what is Mr Turnbull's plan to protect our jobs?"'

ACCI acting chief executive Greg Evans backed Mr Rudd's move to deliver stability and confidence to the commercial property sector by moving to maintain property values.

A reduction in property values would hammer confidence and have implications for the entire economy, not just the finance and property sectors, he said.

However, Mr Evans endorsed Mr Turnbull's call for action to help small and medium-sized businesses seeking loans. "It's taking longer to assess loan applications and more rigorous criteria are being applied," he said. "We are unsure of what the answer might be but we want to alert them (the Government) to the scope of the problem."

Labor backbencher Jason Clare, who holds the seat of Blaxland, in Sydney's southwest, said that if there was a risk of a factory not being built or a shopping centre closing, there was also a risk of job losses.

"It's times like these when governments should be involved in protecting jobs, not just standing back and relying on laissez- faire economics," Mr Clare said.

"There are people that I represent that are relying on these loans being rolled over to protect their jobs."

 

[Geoff]

Turnbull says let market decide

I agree, these companies made their bed let them fail and heads will roll. The rest of us suffer as well but it's not fair on the little guy who goes bankrupt and struggles to see all these big companies getting a massive bailout because they f**ked up.

 

[MrBurns]

Bail out the commercial property market ?

1/ It's wrong
1/ It wont work

Who's going to occupy all the new empty buildings, if there were tenants they would get finance to build anyway.

I'll tell you who will lease these buildings - the Govt - with YOUR money.

Wait and see it's an absolute monty - the developers will get Govt tenants which will make them very rich and you and I just that bit poorer.

They will already have that factored into the equation "Oh Mr Rudd the buildings almost finished and we havent got a tenant we'll go broke, and that wont look good for you will it after proppping us up . Can you think of a Govt dept to fill these building up ? you can ? 20 year lease ? nice fat rent? no problems ? beauty sign here."

 

[Aussiejeff]

...Turnbull says let market decide...

That's the problem. Didn't "The MARKET" decide to get us into this cesspit in the first place?

Seriously, "The Market" is a dark & mysterious beastie with many, MANY parts that make up the hole. Here are a few of the more significant components of the "MARKET" -

Firstly, there is the ubiquitous STOCK MARKET - a veritable airy-fairy wonderland of pseudo-Ponzi-paper, Ponzi Schemes and Ponzi Regulators. This Market is a bit like those fluffy, pink, thingys on a stick you buy at fairgrounds. Tastes decadently luvverly and makes you feel good when it is *cool* but rapidly melts away to a sticky, goo-ey morass when the heat is on. Basically full of air and little substance.

Secondly, there is the REAL ESTATE MARKET - a veritable airy-fairy wonderland of buildings mainly constructed from straw and cards, stacked miles high by Ponzi-Operators and overseen by Ponzi-Regulators. The RE MARKET looks spectacular when times are *booming*, but the houses of cards and straw have a tendency to collapse in a heap when an ill wind blows.

Thirdly, there is the FINANCE MARKET - a veritable airy-fairy wonderland of Mega-Ponzi Banks, Mega-Ponzi Fund Managers & just plain Mega-Ponzi Schemes, overseen by Mega-Ponzi Regulators. Again, this market component performs spectacular flip-flops on a dailly basis and helps to support a massive Ponzi White Collar Crime industry, which in turn helps keep airy-fairy Ponzi-Economies afloat during *boom* times. Unfortunately this market is prone most of the time to hyperPonzi-deflation and hyperPonzi-inflation, with only brief periods of stability in between.

I could go on enlightening about some other MARKETS such as the PONZI NEW CAR MARKET, the PONZI USED CAR MARKET, the PONZI FISH MARKET, the PONZI RETAIL MARKET etc, etc.... but - so long as you use the common PONZI denominator in all your Market research, you will generally come up with the right answer.


Chiz,

The Ponz.

 

[roofa]

Howard should go down as the worst PM ever. Spending $380M tell us how good GST will be when we had no choice on voting on it. Spend million telling us how good Work Choices will be then pulping millions of books because he wanted to change a few words.
Allowing mortgage brokers to start up as long as they had a pulse and then not jumping on low doc loans.
Bring in the FHO so millions of Aussies can get into debt and push the house prices up.
Have to stop my Blood is boiling.

Correct me if I'm wrong, but didn't we go to an election with the libs saying they will introduce the GST? And we voted them in.