Government expenditure in itself (that is in itself) is not related to the strength of the economy.
I would like to see any statistic you have about the return on investment of government spending.
I sure would like to live in the simplistic world you do.
Agree, this is the main game. Their eyes, glowing like ravening wolves circling the campfire, are squarely focused on the $$Future Fund...The temptation to plunder and waste that bucket of money must be overpowering for that bunch of wasters.
Costello is far too political to be the future fund chairman. He got a spot on the board which he should be happy with. the chairman should be as independant as possible, like the Reserve bank governor
What strength?
SCM, seeing you're falling all over yourself trying to defend what a great job Labor is doing for the strength of our economy
Failing that, I'm sure many here wonder what planet you're actually on.
Hang on SCM don't miss quote me.
If you read posts 14 and 17 I agreed with you that it wasn't a reflection on the strengh of the economy.
We are in agreement then
I agree with you that the strengh of the underlying balance of trade is not affected directly by government. However consumer confidence is and this has a marked effect on the strengh of certain sectors of the economy.
Consumer sentiment is bad because the Australian consumer is loaded up with mortgage debt and house prices are dropping because we are past the peak of the bubble (which was created by the precious government by the way).
Interesting..... This is what I thought also but what does that say about the Future Fund board???
Former senior Liberal Party figure Nick Minchin has weighed in to the Future Fund furore, saying appointing his former colleague Peter Costello to the chairman's job would have been "most unwise".
But in a letter to The Australian, Mr Minchin says the fund was naive to think the Government "could, would, or even should appoint Peter Costello as chairman".
"The fund must be, and be seen to be, independent, professional, completely above politics and entirely apolitical," Mr Minchin writes.
"Appointing a former politician - even one of the stature of Costello - as chairman, would therefore be most unwise, something Costello himself would understand better than anyone."
Audio: Opposition maintains attack over Future Fund appointment (AM)
The former Liberal senator says while the Government's process has been "utterly shambolic" he believes Mr Gonski is a good choice.
http://www.abc.net.au/news/2012-03-16/robb-blasts-future-fund-appointment/3893384
Consumer sentiment is bad because the Australian consumer is loaded up with mortgage debt and house prices are dropping because we are past the peak of the bubble (which was created by the precious government by the way).
It has nothing to do with the budget balance.
This is getting off topic so we should probably move to another thread. The problem with your perspective and I am not meaning to be derogatory, is you are obviously young.
Older members who have lived through a couple of recessions know that, belt tightening comes after a government splurges and sends us into debt.
It is all to do with people getting there affairs in order for the resultant belt tightening that will come with the change of overnment. Only the younger inexperienced investors and home owners are in over their heads.IMO it has everything to do with government debt.
Life is a learning experience, even Peter Costello is learning, he should never have dropped the bottom lip and got out of politics. Also he will find it harder to find executive employment the longer he is out of the public spotlight, missing out on the future fund top job is going to set his plans back big time.
As can be seen by SCM coments, Costello and Howards achievements are becoming a thing of the past and carry no relevance to people who didn't work through the last post labor fallout.
It appears you are attempting to make a simple comment, but you have involved 4 different topics in the one sentence.
Older members who have lived through a couple of recessions know that, belt tightening comes after a government splurges and sends us into debt.
It is all to do with people getting there affairs in order for the resultant belt tightening that will come with the change of overnment. Only the younger inexperienced investors and home owners are in over their heads.IMO it has everything to do with government debt.
Our federal government debt is basically non-existent compared to other countries.
Obviously you are a close mate of Wayne Swan with his magic glasses.
Do you think the polls in Federal and State have Labor going over the cliff because they are managing the economy correctly.? I do not think so.
I would agree with your comments Knobby.
An-ex politician, even one of the stature of Costello, would not be an ideal choice as Chairman.
However I still maintain that Gonski by his actions has disqualified himself as being capable of delivering good governance, as Chairman of the Future Fund.
gg
Talk about ignorance - learn to accept the truth. The concept is simple - it's called a housing bubble, and now we are going through deleveraging.
Are you even serious? It has absolutely nothing to do with government debt. Our federal government debt is basically non-existent compared to other countries. And there has never been a recession like this one (certainly not in your lifetime).
You know why? Because households have never been indebted this much in mortgage debt - in Australian history. No, it has nothing to do with the government splurging - it has everything to do with the consumer splurging and sending himself into debt.
And now we're in for decades of paying back this mortgage debt.
Households have never been indebted as much as at present. However that has to looked at in context also, compared to wages, housing is in a bubble yes. But cars have never been cheaper, goods have never been cheaper relatively e.g electronics, shoes, clothing.
Wages are rising generally costs are falling including interest rates (electricity is the elephant in the room) house prices are falling. Savings are increasing for the first time in 15 years.
Hope you don't call it wrong SCM.
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