How has Australia avoided recession?

[Julia]

True WayneL, but they could afford to - and why not splash a little around if you have it. Its like if you work hard for extra dollars, why can't you buy something a little special.

Labor on the other hand splashes out without the responsibility of paying it back. They never have & never will pay anything back.

Cheers

I'm not at all sure it won't at least partially be paid back. Mr Rudd has demonstrated considerable political savvy, and will imo be very aware of just such a cliche being applied to him.

That's why he's all over the media at present warning of the even harder times to come, as budgets are slashed to reduce the deficit.

I'm not sure whether his current popularity will continue once the punters find themselves faced with increased taxes and charges instead of cheques to spend.

The irony would be funny if it were not so serious: billions wasted on stuff many didn't need so that the government can boast about how they saved us from recession, followed by probably cuts to essential services to pay back the wasted funds.

 

[trainspotter]

Rudd will combine his bleak new message with insistence that the government's fiscal stimulus - such as the $14bn primary school construction program - will continue to support jobs.

But he is warning working families to prepare for higher petrol prices and supermarket bills, on top of higher interest rates, when the economic recovery arrives and global commodity prices turn up.

That's a bit rich. In opposition, Rudd promised to ease the household squeeze from higher petrol and food prices during a global commodity boom.

But the actual policy response - including Fuel Watch and Grocery Watch - turned out to be a useless political stunt. He watched them alright ... come and go with NIL result. Cost to us ... millions.

The Lord giveth and Rudd taketh away. Startling info here. He is the one running up the debt on the "Credit Card" and WE have to pay it off. "Here have a "stimulus package" (3 x $900) Ohhhh by the way ... I'm gonna increase taxes and don't say I didn't warn you!" Mr Rudd said

 

[Buckeroo]

I'm not at all sure it won't at least partially be paid back. Mr Rudd has demonstrated considerable political savvy, and will imo be very aware of just such a cliche being applied to him.

That's why he's all over the media at present warning of the even harder times to come, as budgets are slashed to reduce the deficit.

I'm not sure whether his current popularity will continue once the punters find themselves faced with increased taxes and charges instead of cheques to spend.

The irony would be funny if it were not so serious: billions wasted on stuff many didn't need so that the government can boast about how they saved us from recession, followed by probably cuts to essential services to pay back the wasted funds.

I may have been a bit harsh Julia, but giving the benefit of the doubt, will he have the courage to increase taxes to pay for all his spending. I haven't seen any likelihood of this yet except, when there's a carrot for the public e.g. dental care, $3 billion of it!

I will have respect for him when he comes out & says, its now time to buckle down & start paying back the stimulus - none of this mamby pamby spin I keep hearing - I suppose thats what makes me .

Cheers

 

[trainspotter]

China to help Australia avoid recession: Treasurer Wayne Swan

14th July 2009, 10:45 WST

China, expected to be the world’s fastest growing economy in 2009, is a key factor in helping Australia avoid a technical recession, Federal Treasurer Wayne Swan says. (WOW .. really ??? )

Despite current diplomatic strains between the two countries over the detention of Rio Tinto executive Stern Hu by Chinese authorities, Mr Swan was upbeat about the outlook for Australia’s key trading partnership. (He beats off alright)

“As our second-largest trading partner in 2008, China is of particular importance to the Australian economy,” Mr Swan said at a conference on China at the Australian National University in Canberra. Both countries were doing better than most in difficult economic times, he said.(Stating the bleeding obvious here)

“Both China and Australia have bright economic futures, which will reinforce each other as our trade and economic relationship develops,” he said.
(More repetitive garbage)“Through developing our relationship with China, Australia will be better placed to meet the rising demands of the Chinese economy as China assumes an increasingly greater role in the global community.” (This guy is a genius isn't he!)

While Chinese economic growth had slowed, it was still expected to be the fastest growing major economy this year. (Is this a statement or a fact?)

This helped Australia avoid a technical recession in the March quarter, when other economies were going backwards, Mr Swan said. (OMFG ... give this guy a medal)

In the six months to the March quarter, Australian export volumes increased by 1.8 per cent, while exports from the UK, France, Canada and the US fell more than 10 per cent. (True)

 

[kincella]

KISS....thats what these simpletons are doing....they have no idea what to do....sounds like what they were saying a year ago....before the GFC...they had no idea then...and nothing has changed....
of course the really stupid people will listen, and then believe them...

 

[Gamblor]

I think it's still early and we can't claim to have avoided the R word yet but things could be much worse.

 

[trainspotter]

Gorgon Gas Project on Barrow Island given Green Light. 50 billion plan announced today. Touted as a "recession buster" project that will cushion the economy against the world financial downturn. Employ 10,000 people during construction phase blah blah 15 million tonnes of LNG yadda yadda yadda start delivering in 2014. Lift Australia's GDP by 64.3 billion and add 4 percent to state gross product over the life of the project. Nahhhhhh let's not use LNG .... burn coal instead. Good night Nurse !