Kevin Rudd

[moXJO]

Re: Rudd, I'm pissed off aren't you?

The name's really Wayne Swan, I'm in here to try to work out whats going on, when I took this job I was told it would be a piece of cake now we have a crisis and I have to actually WORK, no fair.

I call Kev and he says Swanny mate don't ask me , I called the wife but she's at the travel agent AGAIN

I was told when I get called into a press conference they will expect me to know something so the answer to any question is 'our banking system is one of the most highly regulated in the world and we're safe" then politely walk away so they done ask me to explain any economic terms, geez I've read Costellos book cover to cover looking for clues but no luck, anyway I'll just keep poking around here to see if I can pick up anything useful.

Lol I don’t like labor but I voted for them on the hope that their education reform might filter through. Also the fact that Rudd might bury his nose a bit deeper up china then what Howard would have. Agree that not much has been done to date but still early days and I don't think libs would do much better at the moment. If anything the libs will get to learn on the job and not take the heat if it goes belly up.

I was more suspicious that Nashezz was a union loving pr spinner

 

[Knobby22]

Re: Rudd, I'm pissed off aren't you?

I've been unimpressed with the Liberals so far during this crisis but Terry McCrann, well known right wing commentator takes it further. Read the following quotes:

"OK, I'll take Malcolm Turnbull at his word. The Opposition Leader really is an idiot and doesn't understand how financial markets work.

RBA governor Glenn Stevens gave him a 'get out of kindergarten card' yesterday. Turnbull was too stupid to take it."

and

"It is the height of irresponsibility for an opposition leader to go blundering around in matters he doesn't understand.

It's not just a case of the boy playing with matches in the dried-out forest; apparently this boy doesn't even know he's got matches in his hand."


Read the full article here: http://www.news.com.au/heraldsun/story/0,21985,24462931-36281,00.html

 

[nioka]

Re: Rudd, I'm pissed off aren't you?

While I do agree with TM in this instance, I do take anything he says with a grain of salt. In the 80s he encouraged me to take out a loan in Swiss francs, cost me over $500,000. He gave a talk at a seminar arranged by my ex-accountant and showed us graphs and charts to show how we couldn't lose. He even conned my bank manager, who ended up with "early retirement" for lending through the swiss francs deals to a lot of customers.

Turnbull is lucky to have cashed up and got out of merchant banking in time to avoid losing all.

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

While I do agree with TM in this instance, I do take anything he says with a grain of salt. In the 80s he encouraged me to take out a loan in Swiss francs, cost me over $500,000. He gave a talk at a seminar arranged by my ex-accountant and showed us graphs and charts to show how we couldn't lose. He even conned my bank manager, who ended up with "early retirement" for lending through the swiss francs deals to a lot of customers.

Turnbull is lucky to have cashed up and got out of merchant banking in time to avoid losing all.

Geez I remember the Swiss Franc thing now, I'd forgotten all about it, I was in that with a partner in a property deal, as I recall it was bad news indeed, amazing how you can block out life's little dramas, must be a self defense mechanism.

 

[Julia]

Re: Rudd, I'm pissed off aren't you?

I've been unimpressed with the Liberals so far during this crisis but Terry McCrann, well known right wing commentator takes it further. Read the following quotes:

"OK, I'll take Malcolm Turnbull at his word. The Opposition Leader really is an idiot and doesn't understand how financial markets work.

RBA governor Glenn Stevens gave him a 'get out of kindergarten card' yesterday. Turnbull was too stupid to take it."

and

"It is the height of irresponsibility for an opposition leader to go blundering around in matters he doesn't understand.

It's not just a case of the boy playing with matches in the dried-out forest; apparently this boy doesn't even know he's got matches in his hand."


Read the full article here: http://www.news.com.au/heraldsun/story/0,21985,24462931-36281,00.html

Thanks for that, Knobby. Good article by TM.

Imo Mr Turnbull has destroyed his much renowned economic credibility with this silly political grandstanding, especially making the extraordinary suggestion that it was his urging that has brought about the rate cut.

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

Thanks for that, Knobby. Good article by TM.

Imo Mr Turnbull has destroyed his much renowned economic credibility with this silly political grandstanding, especially making the extraordinary suggestion that it was his urging that has brought about the rate cut.

Hate to admit it but I think you're right. who do we turn to now ?

Come back Peter !!!

 

[pepperoni]

Re: Rudd, I'm pissed off aren't you?

Ill say it again ... Abbott or Hockey.

I knew Howard was a dead cert for a few terms since late 80s when others thought he was a little fool.

Just like I knew turnbull would be a pontificating buffoon.

Honesty is no 1 in aussie politics and Abbot and Hockey have it in spaded IMO.

Hockey might edge in front from a multicultural point of view.

 

[nioka]

Re: Rudd, I'm pissed off aren't you?

Hate to admit it but I think you're right. who do we turn to now ?

You have them. No need to turn to anyone else. Who? The team of Rudd, Gillard and Swan. They are doing OK considering all the problems. Just give them a go, actually you don't have any say, they are there for the immediate future.

 

[Knobby22]

Re: Rudd, I'm pissed off aren't you?

You have them. No need to turn to anyone else. Who? The team of Rudd, Gillard and Swan. They are doing OK considering all the problems. Just give them a go, actually you don't have any say, they are there for the immediate future.

Peter will come back in 5 years and I hope as he comes down the aisle for the Liberal convention they play the song "Jesus Christ, Superstar".

Unfortunately Malcolm is coming across as a lying merchant banker. and I'm using the w colloquilism for merchant banker.

 

[moXJO]

Re: Rudd, I'm pissed off aren't you?

Peter will come back in 5 years and I hope as he comes down the aisle for the Liberal convention they play the song "Jesus Christ, Superstar".

Unfortunately Malcolm is coming across as a lying merchant banker. and I'm using the w colloquilism for merchant banker.

I suspect the second coming of Peter will be perfectly timed with the end of the credit crunch.

 

[IFocus]

Re: Rudd, I'm pissed off aren't you?

No point arguing with labor voters you're clueless otherwise Rudd wouldn't be in power now.

Thank you Mr Burns, Clueless would be talking to a Galah

 

[Macquack]

Re: Rudd, I'm pissed off aren't you?

Grow up, get a job, stop blaming others for the chip on your shoulder.

All grown up, got a job, building contractor puting roofs over peoples heads.

Pity its for some people with f***ing thick heads like you Burns.

 

[slushy32]

Re: Rudd, I'm pissed off aren't you?

What exactly would you have been expecting on a thread entitled "Rudd, I'm pissed off aren't you?"
A forum is a place for exchange of views, not for limiting views just to those which happen to agree with your thoughts.

I am happy to hear other peoples thoughts if they are informed and thought through, not as I was saying dogmatic dribble. What ever happened to healthy political debate?

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

All grown up, got a job, building contractor puting roofs over peoples heads.

Pity its for some people with f***ing thick heads like you Burns.

Aw gee sorry Macquack I re read your post carefully I didn't realise you were retarded. You take care now.

 

[Macquack]

Re: Rudd, I'm pissed off aren't you?

Aw gee sorry Macquack I re read your post carefully I didn't realise you were retarded. You take care now.

What the f*** does this mean, Burns?

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

What the f*** does this mean, Burns?

Just a little joke Quakka, dont worry about it, I'm not interested in arguing with you or anyone else just trying to learn a bit.

 

[rhen]

Re: Does Rudd inspire confidence?

I quote:

Last week a Freedom of Information request by the Australian revealed that the federal government’s $64 billion Future Fund, set up in 2006 from accumulated budget surpluses and the privatisation of Telstra, secretly lent unknown amounts to three of the big four banks””Westpac, the ANZ and NAB””shortly after the global crisis intensified with the collapse of the US investment bank Bear Sterns on March 16.

While the total amount of these loans is unknown, they potentially expose the Future Fund to further losses. According to calculations by the Australian, the fund, which the previous Howard government claimed would “future-proof” the Australian economy, has already lost $2 billion through investments on stock exchanges and other money markets.

In effect, behind the backs of ordinary people, the Future Fund has been bailing out the banks, together with the Rudd government and the Reserve Bank, which has been pumping billions of dollars into financial markets for months. For his part, Prime Minister Kevin Rudd has repeatedly boosted the four major banks’ standing, declaring that they have AA credit ratings. These assurances are highly dubious, given that the same ratings agencies gave AAA status to the US sub-prime loans whose disintegration sparked the financial meltdown last year.

Rudd and Treasurer Wayne Swan have also insisted that the banks are subjected to the most rigorous regulation in the world. Yet, the RBA last month reported that the banks had “off-balance sheet business” of $13.8 trillion at the end of June, compared to $5.8 trillion in June 2003. While financial analysts say most of this is not risky, if just 1 percent defaulted, it would wipe out Australia’s banking system. According to the Australian’s Adele Ferguson: “A big concern is the exposure of Australian banks to collateralised debt obligations, a fancy term for structured products based on bonds backed by mortgages and other consumer debt. Because they are off the balance sheet they lack transparency.”
Prime Minister Rudd immediately welcomed the RBA’s rate cut and declared that his government would also take “tough action, tough decisions” that “may not be popular” in order to ensure the stability of the banking system, which he described as the “cornerstone” of the government’s policy.

In part, his comments sought to justify his open support for the banks not passing on the full rate reduction to borrowers. More broadly, they are another warning that the Labor government will implement harsh austerity measures to impose the burden of the economic crisis on the working class in order to protect the banks and other major corporations.
Ordinary people are already bearing the brunt of the collapse of the mountain of debt that has fed the massive profits and executive salaries of the financial and corporate elite. Some 15 percent has been wiped off superannuation and other retirement funds, forcing people to postpone their retirements or try to go back to work. Tens of thousands of working class people have lost their homes, unable to pay their mortgages.

In a speech last week, Rudd blamed “greed” and “extreme capitalism” for the economic crisis. But the unrestrained accumulation of wealth in the hands of a tiny layer at the expense of the working class simply expresses the inexorable logic of the market and the profit system itself, which has compelled competing corporate giants to seek ever-greater rates of return in order to survive. Labor has fully embraced these processes. In fact, the last Labor government in the 1980s and 1990s, in concert with the US and British governments, led the way in implementing the increasing de-regulation demanded by the markets.
...the Labor government is determined to bail out and prop up those responsible for the breakdown.





http://www.wsws.org/articles/2008/oct2008/econ-o08.shtml

 

[Julia]

Re: Rudd, I'm pissed off aren't you?

I suspect the second coming of Peter will be perfectly timed with the end of the credit crunch.

You might be right. I've noticed he has been putting himself out in the public eye much more lately, i.e. interviews on ABC Radio and TV, appearance on Q. & A,etc.
I'd thought it was in aid of selling his book which he mentions in every second sentence, but perhaps there is indeed an underlying political motive.

I'm really disappointed in Malcolm Turnbull. Had expected better.

Wayne Swan has been performing much better than I'd expected.
All up, it would be hard to find any objective and reasonable criticism of the way the government is handling this very difficult situation.

 

[Nashezz]

Re: Rudd, I'm pissed off aren't you?

But Nash mate, you are all those things, and Mr.Burns is a certified genius. Everywhere you go people point at you and say "Thats Nashezz, the chardonnay sipping intellectual 'elitist'. On the bus, in the newsagent, at the servo and when you are buying your tickets for some left wing play about a one legged gay nun who discovers Brecht.

Mr. Burns on the other hand has carers who wheel him about, show his certificate of genius to him frequently and take him to reruns of the Sound of Music.

This is the heavy cross you both bear.

gg

hehe GG. Your probably not far off with Burns anyway...

 

[MrBurns]

Re: Rudd, I'm pissed off aren't you?

hehe GG. Your probably not far off with Burns anyway...

Look at them, Smithers. Goldbrickers.... Layabouts.... Slug-a-beds! Little do they realise their days of suckling at my teat are numbered.