Federal Labor Party discussion

[sptrawler]

I see Rudd has imported some 457 spin doctors from the U.S. I would have thought he conjures up enough spin on his own.
Anyway, there seems to be a propensity for the Scotish heritage, first McTernan now McGregor. You never know Billie Connolly might get a gig, at least then you would get a laugh out of Labor.

Obviosly Labor are not confident, no election date, and Burke starting the 'me too' rhetoric.

 

[Country Lad]

I see Rudd has imported some 457 spin doctors from the U.S. I would have thought he conjures up enough spin on his own.

Don't discount the contribution these guys will have in the campaign. They will concentrate on the social media side to attract the younger generation who are already increasingly going with Rudd.

They will make the social media their strength vs the Coalition's (except for Turnbull) weakness.

Labor winning the social media war may just give them the election.

Cheers
Country Lad

 

[noco]

I have yet to find someone that does a better job consistantly over a long period of time than treasury. If we could predict the future well enough we probably wouldn't be here discussing it - we would be very wealthy on easy street. Treasury didn't receive as much criticism when it worked in favour during the Howard years.

The public servants in Treasury are supposed to be experts in their profession as economists.

It is appalling that these so called experts can be so far out with their performance.

If they can't be more accurate, then they should be replaced. My gawd if they worked for private enterprise, they would have been sacked a long time ago. Perhaps that is why they are public servants because they probably would not be able to hold down a job in private enterprise.

 

[boofhead]

The public servants in Treasury are supposed to be experts in their profession as economists.

It is appalling that these so called experts can be so far out with their performance.

If they can't be more accurate, then they should be replaced. My gawd if they worked for private enterprise, they would have been sacked a long time ago. Perhaps that is why they are public servants because they probably would not be able to hold down a job in private enterprise.

You didn't answer the question and provided no better alternative. It highlights why many think of economics as an art and not a science.

 

[Calliope]

I don't think Rudd need worry much about the NSW branch corruption affecting the vote for the Federal ALP. The usual Labor voters will ask what the fuss is all about. After all corruption is endemic in the Labor party.

KEVIN Rudd has sought to distance federal Labor from corruption findings against former NSW Labor figures, amid fears today's ICAC report could further damage the party's election chances in Sydney.

The Prime Minister said today he was “disgusted” with the revelations to have emerged in the ICAC, which today recommended criminal charges against former NSW Labor mining minister Ian Macdonald, Labor Right powerbroker Eddie Obeid and his son Moses.

“Anyone who is responsible for corruption, for illegal behaviour, should face the full force of the law,” Mr Rudd said, shortly before the ICAC recommendations were released.

“That's what I want to see happen.”

http://www.theaustralian.com.au/nat...icac-revelations/story-fn59niix-1226688664133

 

[Julia]

You didn't answer the question and provided no better alternative. It highlights why many think of economics as an art and not a science.

What was the question? I must have missed it.

 

[noco]

You didn't answer the question and provided no better alternative. It highlights why many think of economics as an art and not a science.

Yes, what was the question? I seemed to have missed it.


The link below proves my point so no need to ask any questions.



http://blogs.news.com.au/heraldsun/...ple_who_keep_getting_budget_numbers_so_wrong/

 

[boofhead]

It was vague. What is the alternative? Professionals - even those outside treasury are no better.

 

[Julia]

It was vague.

There wasn't any question posed.

What is the alternative? Professionals - even those outside treasury are no better.

Many would disagree. People like Chris Richardson usually are pretty much on the money.

Most of them could hardly do as poorly. Give us six examples of treasury's figures actually turning out to be correct.

 

[sptrawler]

It was vague. What is the alternative? Professionals - even those outside treasury are no better.

When a companies results, don't come within market estimates, they get hammered.
It seems that the goverments lack of hitting the side of a barn is o.k, and treasury just say, oh well we're wrong again.
On a side issue, I just wish, reporters from all sides, could just report rather than giving their opinions.lol
The newspapers are becoming, reporters blogs, it won't be long before the newspapers charge the reporters to post.IMO
Then we may get some decent reporting.

 

[dutchie]

Good to see Rudd target smokers to pay for Labor's blunders.

Smokers cost taxpayers heaps in health costs so it's about time they paid. Hopefully make them extinct by the sheer cost of smoking.

Then lets move similarly onto alcohol, an even bigger burden, in so many ways, on society.

 

[boofhead]

There wasn't any question posed.


Many would disagree. People like Chris Richardson usually are pretty much on the money.

Most of them could hardly do as poorly. Give us six examples of treasury's figures actually turning out to be correct.

At no point did I say Treasury got it consistantly correct. Earlier I said economics is an art and not a science. I also said many didn't seem so interested in mistakes that they underestimated revenues during much of the Howard years. When the error seems positive people are less interested than negative even if over time they near balanced out. "Something is wrong, we must fix it" - what is the fix?

How many are accurately predicing figures that come from China? There is often a degree of scepticism about the accuracy of reported figures from China. It does impact on a number of commodity prices. There seems to be some attempts of massaging iron ore prices by China and when that failed complaints about iron ore producers.

How many predicted the droughts in Russia which impacted on world wheat prices? Strong influence on the pricing there.

How well do the predict what Bernanke will say and how markets will react? Earlier in the year he said something that a few read as an earlier winding down of the stimulus - markets reacted. Later he makes statements stimulus will be continuing for a while and markets pick back up.

How many know how the Japanese attempt of stimulus will play out?

How about the recovery in USA? What about the drag of Europe's woes?

How well will exchange rates be predicted? At times the change can be quick.

How well are people predicting the mood of the market and people? Did they predict the return of Rudd when it happend? Or how about Rudd's little spending spree then quick fixes to try and pay for them?

Treasury and others have various predictions for the short and longer terms. Why even a number of pundits get the RBA interest rate changes a bit wrong at times.

Now factor in politics.

It's a case of using the past to predict the future. Experienced investors warn against blidly following that for good reason.

Review of Treasury Macroeconomic and Revenue Forecasting if you want to dig deep in to the subject. It's an art that can easily go wrong.

On to another thing about the Labor party - Rudd sees himself as the Messiah. We know that is evidently not true. Rudd is a reasonable salesperson so he will be used to do a lot of PR. Problem is he wants to have a finger in everything and seems to want to be seen as so. Looks like he is the same as before - has issues delegating. For someone relatively politically smart he fails to properly learn from past mistakes.

 

[bunyip]

Good to see Rudd target smokers to pay for Labor's blunders.

Smokers cost taxpayers heaps in health costs so it's about time they paid. Hopefully make them extinct by the sheer cost of smoking.

Then lets move similarly onto alcohol, an even bigger burden, in so many ways, on society.

I agree – hitting smokers yet again is a good idea. It’s a filthy habit that kills people, and it even affects non-smokers like myself. I’m heartily sick of seeing people throw cigarette butts down on the footpath, many of which end up in our storm drains and hence our river systems and oceans. I’m sick of the mugs who I frequently see tossing glowing cigarette butts out of car windows during bushfire season. I’m sick of having to walk through clouds of cigarette smoke to get into shopping centers.

I don’t find many reasons to applaud Labor governments, but I applaud Labor for making a serious effort to reduce the number of people who smoke, by putting in place their ‘plain packaging’ regulations (which to my surprise have actually had some effect), and now by making fags more expensive, which will definitely have some effect in making some people quit smoking, and deterring others from starting.

I’ll take a guess that more smokers vote Labor than LNP, so hopefully we’ll have the added benefit of some of these people being so annoyed with Rudd that they’ll switch their vote to the Libs.

Let’s not forget though, that Labor will be using the additional revenue raised to help patch up a huge black hole in their budget, rather than spending the money on much needed essential services and infrastructure like roads which are in a woeful state.
If Rudd and Gillard and their cronies hadn’t wasted so much money with reckless abandon, they wouldn't have these huge holes in their budget. Additional money raised from an increased smoking levy could then have been put to much better use where it’s really needed, rather than using it to make Labor’s numbers look more respectable.

 

[sptrawler]

Good to see Rudd target smokers to pay for Labor's blunders.

Smokers cost taxpayers heaps in health costs so it's about time they paid. Hopefully make them extinct by the sheer cost of smoking.

Then lets move similarly onto alcohol, an even bigger burden, in so many ways, on society.

+1 It has been common knowledge, for a long time, that smoking is the root cause of many illnesses.
About time they applied more pressure on people to apply a cost base analysis to their habit.

As Bunyip said, it is a shame the tax is designed to fill a budget hole.

 

[Calliope]

+1 It has been common knowledge, for a long time, that smoking is the root cause of many illnesses.
About time they applied more pressure on people to apply a cost base analysis to their habit.

As Bunyip said, it is a shame the tax is designed to fill a budget hole.

Yes, it is a good idea. The heaviest users are those in the lower socioeconomic levels. This is the very group to which we direct most of our welfare payments, so in effect we are subsidising their habit. If the tax works as it was originally intended i.e. to discourage smoking, then well and good.

On the other hand, it probably won't reduce the level of smoking, so we will continue to claw back some of our welfare payments in a tax on the disadvantaged.

 

[sails]

More money grabbing when labor could have been more responsible in the first place and cut their spending:

Bank deposits ‘taxed’ for bailout fund

The federal government will prop up the budget bottom line with a new levy on banks that will be badged as providing insurance in case future bailouts are needed.

Read more:http://www.afr.com/p/national/bank_deposits_taxed_for_bailout_AKvDLh8Z36mmzu3VQ2lhVJ

 

[Calliope]

More money grabbing when labor could have been more responsible in the first place and cut their spending:

Bank deposits ‘taxed’ for bailout fund



Read more:http://www.afr.com/p/national/bank_deposits_taxed_for_bailout_AKvDLh8Z36mmzu3VQ2lhVJ

One big bank has warned the levy would be passed on in the form of reduced interest payments on deposits

.

Between rate cuts, taxes and inflation, depositors are in for a lean time.:bad:

 

[Knobby22]

More money grabbing when labor could have been more responsible in the first place and cut their spending:

Bank deposits ‘taxed’ for bailout fund



Read more:http://www.afr.com/p/national/bank_deposits_taxed_for_bailout_AKvDLh8Z36mmzu3VQ2lhVJ

its a tax, pure and simple.

 

[sptrawler]

its a tax, pure and simple.

So what's new?

I don't think Labor have reduced taxes, in the last 3 years. Something has to pay for the splash of cash, wish it was spent wisely.

I wonder where the levy money would be kept, for safe keeping, incase it's needed to bail out a bank.lol

The government must think everyone is stupid, not just me.

 

[Julia]

Hopefully there will be sufficient voter backlash over this to lose them the election.
Spend billions on arsonists and tax the saver to pay for it.