Julia, do you remember the dozen of billions USD given as emergency loans by the american federal bank to keep wetpac and Nab(I believe) upfloat?I've never heard of "The Stubborn Mule" which seems to be your source here.
If there was any fear of our banks falling over, it would have been a contagion of fear, not a realistic assessment that our well regulated, profitable banks were actually going to collapse.
To prevent such an unnecessary concern spreading, the government came up with the guarantee as a way of saying 'stop worrying, folks, we're the government and we're here to help'.
Then they charged the banks for this.
Given the status of our big four banks as some of the most stable and profitable in the world, if they were to collapse we might as well all fold our tents.
Well this economic statement only confirm what we all know, these fools have no clue.:frown:
Julia, do you remember the dozen of billions USD given as emergency loans by the american federal bank to keep wetpac and Nab(I believe) upfloat?
if you do not remember just ask and I will dig out the exact figures and references(ie facts)
From memory that had nothing to do with the banks falling over, but simply a grab at cheap cash
Yes, I do remember it, but not that it was an 'emergency loan'. Neither was it 'dozens of billions as you suggest.Julia, do you remember the dozen of billions USD given as emergency loans by the american federal bank to keep wetpac and Nab(I believe) upfloat?
if you do not remember just ask and I will dig out the exact figures and references(ie facts)
Economists say an increase in the federal government's budget deficit is shocking and disappointing.
AMP chief economist Shane Oliver said he was surprised that the budget deficit is now expected to be $30.1 billion in 2013/14, rather than the $18 billion estimated in the May budget.
"It's a bit disappointing to see the deficit is so much worse," Dr Oliver said.
"I'm shocked by how much it's deteriorated.
"We seem to keep pushing out the return to surplus and the return to surplus gets steeper and steeper as time goes by."
The updated budget forecast came in the government's economic statement on Friday, which also forecast a rise in the unemployment rate to 6.25 per cent as the government grapples with a $33 billion revenue writedown.
THE Federal Government's budget update is "muddled" and raises concerns about its ability to ever deliver a surplus as it lacks any clear effort to bring wasteful spending under control, senior business leaders said.
The reality check saw the deficit almost double from $18 billion to $30.1 billion for 2013-14 as a result of the government's inability to rein in spending as revenues took a massive hit from the slowing economy.
Business Council of Australia chief executive Jennifer Westacott said the government's fiscal strategy has put the nation's future prosperity at risk.
Economists shocked and disappointed.
How to spend $10 billion in 10 weeks, they will be lucky to last until October.
Disgraceful.
Just another bungle by this inept Labor Governemnt. No wonder they are desperate to tax everyone to high hell .
Are they still the working man's party or have they forgotten?
http://www.couriermail.com.au/news/...oyment-will-rise/story-fnihsrf2-1226690435538
Only in the same way that only "fools" believe any party is looking after their interests.Only fools believe that Labor is the party that looks after workers.
Pot, kettle ... The number of Labour voters who blindly march to their party's tune are easily matched by the number of Liberals doing the same.As I’ve said before, Labor voters tend to be a very gullible lot ...
Rudd is raving on about the millionaires who are backing Abbott.
What a hypocrite he is when he and his wife are multi millionares.
http://blogs.news.com.au/heraldsun/andrewbolt/index.php/heraldsun/comments/september_7_election/
Only in the same way that only "fools" believe any party is looking after their interests.Like it or not there will always be a place for unions, collective bargaining, and protectionist policies and in general, those interests are represented by the Labour party.
ALP governments have a history of being poor economic managers. The general pattern is that when Labor comes to office they inherit low or no debt and healthy budget surpluses, and they quickly turn them into substantial debts and big deficits.Just because we had some good years under Howard, does not mean they are the default party to lead. This attitude of all intelligent, hard-working Australians voting by default for the Liberals, is arrogant, elitist, offensive and a major failing of the Liberal party and dare I suggest it a reason why Howard lost his last election.
Part disillusion, part worker satisfaction I think has led to a decrease in members. When the balance of power swings to the employers and too many people start to get taken advantage of the unions will be there to help.Significant falls in union membership suggest that workers are becoming increasingly disillusioned with the unions that supposedly represent them.
Interesting thought. While I think the unions support the ALP, I don't think disappointment in the unions translates to the ALP also. I think the ALP's performance has more to do with its ratings in the polls than the unions.This disillusionment with unions has quite understandably translated into disillusionment with union-dominated ALP governments.
I see it as common sense, not arrogant and elitist, to suggest that only people who are gullible and foolish will believe Rudds’ spin and put him back into office after his woeful track record last time around.
Agree, but in a critical position you can't leave it vacant until a good candidate presents themselves. So you're left with the choice of terminating the incumbent, and immediately replacing them with one of the available candidates, or leave the incumbent where they are while actively advertised for suitable candidates.If I or anyone else owned a business that was being run into the ground by an incompetent manager, we’d terminate his employment and replace him with somebody else.
The question is whether it's a better alternative than Labor.This election is still Abbott's to lose, and he has huge momentum with the anger at Labor's poor performance. I want to vote "No to ALP" but am yet to be convinced that under his leadership the Coalition is a viable alternative.
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