Kevin Rudd

[Conza88]

Rudd's Budget Insanity

Chris Leithner on 612 ABC Brisbane, 13th May 2009.

- Government operating on two fallacies
- Two Parties in Australia: Stupid and Evil
- Printing money is madness
- Big picture view of the Budget
- Future Inflation Pressure

​

 

[pacestick]

Re: Rudd's Budget Insanity

Interesting both comsec and bill evans and westpac like the budget

 

[MrBurns]

Re: Rudd's Budget Insanity

From his newsletter -

1. Has the All Ordinaries Index “hit bottom”?
2. What is its “fair value”?

I believe neither that it’s hit bottom nor that it’s close to a bottom. The course of its descent to – and the level of – its eventual nadir depend partly upon the extent to which the AOI’s earnings fall; and that, in turn, hinges partly upon the severity of the recession. Earnings peaked in October 2008 at $489, and by March 2009 had shrunk to $365. If they revert to their long-term trend, then ca. 40% of this distance has been traversed. Of course, just as observations “overshoot” above a trend, they can also “undershoot” below it.

Given how we came to this pass, where Australia now stands, what the government is doing to us and what may lie before us, it’s difficult to conclude that stocks are cheap and easy to believe that they remain dear. True, the AOI is less overvalued now than it was, but “less overvalued” is not the same as “undervalued.”

Accordingly, Leithner & Co.’s plans include the possibility that an environment marked by recession and stagflation (like the one that plagued the early 1970s to the mid-1980s) prevails during the next several years.

In such a climate, the fair value of the All Ordinaries Index would be ca. 1,700-2,300. That implies a fall of ca. 70% from the Great Bubble’s maximum and the harshest bear market in Australian history. Furthermore, taking 2,000 as the AOI’s “bottom” and assuming a long-run growth rate of 7.5% per annum, ca. 17.5 years will pass before the Index returns to its Bubble maximum of ca. 6,850. If so, this will be the most fraught recovery in Australian history.[/QUOTE]

 

[Glen48]

Re: Rudd's Budget Insanity

I appear when GM ( Government Motors ) goes under all hell will break loose in USA with thousands going out of work from car yard (2,600 to close this week)to parts suppliers to councils who use to get the stamp duty and rates. then we have Ford line up before Toyota

 

[dhukka]

Re: Rudd's Budget Insanity

Great Stuff Conza, I'm glad others are tuning in to Chris Leithner, well worth a listen.

 

[Rainmaker2000]

Re: Rudd's Budget Insanity

It's funny.......what we hear is the difference between Keynes and the neo-liberals..........only Keynes's name was never mentioned.......the politicians like Keynes cause it justifies spending money when people and the government really shouldn't!!!!!

 

[GumbyLearner]

Re: Rudd's Budget Insanity

Cheers for the update Conza.

Rudd & Swan's arrogance and indifference towards average people appears to be a problem. While it doesn't seem as obvious as the the arrogance of Howard & Costello it will prove to be an achilles heel if they decide to trigger a double dissolution. This debt is huge!

It baffles me that they can claim this Budget as an economic victory.

They are all elitist buddies deep down on both sides of the house these days IMHO.

Maybe Rudd should have gone out and got his hands dirty like the rest of us, instead of cleaning Laurie Oakes house when a student.

The ALP is no longer run by the cream of the working class, it is now run by the scum of the middle class.

 

[Julia]

Re: Rudd's Budget Insanity

Maybe Rudd should have gone out and got his hands dirty like the rest of us, instead of cleaning Laurie Oakes house when a student.

Did he really? That explains a bit about why Oakes is so extraordinarily pro-Labor.

Thanks for drawing attention to Chris Leithner, Conza. I've liked him and his common sense views for a long time.

 

[moXJO]

Re: Does Rudd inspire confidence?

Wow just when you thought he should be good at something he fails again. Even China is seeing through the spin now.
http://www.news.com.au/story/0,27574,25497435-5007133,00.html

PM not popular in China

INTERNATIONAL analysts in China are starting to claim that Beijing is finding it difficult to deal with Kevin Rudd, and the Chinese leadership was more comfortable with John Howard than the current Prime Minister.

Professor Zhu
"I think Mr Rudd's proposal for an Asia-Pacific community is brilliant, and has earned solid support from China. But there has been no follow-up. Nothing substantial is happening to take it further."


"He offers words that can be very touching, but may not be taken too seriously," he said.

Given his knowledge of China I thought he would excel. He seems to be having trouble seeing things through to the end. And the list is only getting longer.

 

[Aussiejeff]

Re: Rudd's Budget Insanity

Cheers for the update Conza.

Rudd & Swan's arrogance and indifference towards average people appears to be a problem. While it doesn't seem as obvious as the the arrogance of Howard & Costello it will prove to be an achilles heel if they decide to trigger a double dissolution. This debt is huge!

It baffles me that they can claim this Budget as an economic victory.

They are all elitist buddies deep down on both sides of the house these days IMHO.

Maybe Rudd should have gone out and got his hands dirty like the rest of us, instead of cleaning Laurie Oakes house when a student.

The ALP is no longer run by the cream of the working class, it is now run by the scum of the middle class.

Latest opinion poll since the Fudget shows Rudd's popularity has suddenly plummeted 10%.

Unfortunately for the opposition, MT's has barely moved.

 

[Julia]

Re: Rudd's Budget Insanity

Latest opinion poll since the Fudget shows Rudd's popularity has suddenly plummeted 10%.

Unfortunately for the opposition, MT's has barely moved.

AJ was the poll taken before or after Malcolm Turnbull's Reply to Budget?
It was quite good.
Nice to see the government taking a bit of a fall anyway.

 

[Happy]

Re: Rudd's Budget Insanity

AJ was the poll taken before or after Malcolm Turnbull's Reply to Budget?
It was quite good.
Nice to see the government taking a bit of a fall anyway.

Drop was not significant, probably smokers are Labor supporters.

 

[Happy]

Re: Does Rudd inspire confidence?

From ABC 18 May 2009
RUDD PLANS 'WORLD'S LARGEST' SOLAR PROJECT


The Federal Government says it wants to create the largest solar energy project in the world.
It says the project will be as close as possible to the existing energy grid.
Visiting Liddell Power station in the Hunter Valley, Prime Minister Kevin Rudd said the Government would spend almost $1.4 billion creating the project.
The funding is part of the Government's commitment to spend $4.5 billion on reducing carbon pollution.
The project will include up to four individual solar plants generating on average the same amount of energy as a coal-fired power station.
Prime Minister Kevin Rudd says the most appropriate sites will be chosen through a tender process to be completed by next year.
"The location will be determined in terms of maximum access to sunlight, maximum proximity to the electricity grid to minimise costs of transmission systems, as well as a number of other technical and design factors as well," he said.
Mr Rudd has also announced that Australia will become a full member of the International Renewable Energy Agency (IREA), which will hold its first meeting in June.
Currently the largest operating plant is in California in the United States.
The Government's Solar Flagships program hopes to create three times as much energy as that project.

Another grand stand and possibly good excuse for few trips, not to mention opportunity to bump up the price of electricity.

 

[noco]

Re: Does Rudd inspire confidence?

Rudd and his lame DUCK (Swan) are both living in a glass house where all can see what they are doing.
China, together with most sane Australians are wide awake and looking in together at what they are up to, and today's poll proves just that!
Even the GREENS support for Labor looks a bit shakey.
They keep coming up with "HAIR BRAIN" FANTASIES which they know cannot be achieved.
With each new FANTASY, which tends to makes them look good, is implimented in a way to take your mind off the previous one.
Bring on a double disolution.
The problem is the hard core Labor supporters will still have their dark glasses on whenever that may be.

 

[doogie_goes_off]

Re: Does Rudd inspire confidence?

I thought the Kruddster thread would die down between elections but basically it looks like KRUDD always rises to the top. Measured budget but pathetic vision, lack of confidence is high.

 

[Julia]

Re: Does Rudd inspire confidence?

Bring on a double disolution.
The problem is the hard core Labor supporters will still have their dark glasses on whenever that may be.

No, we don't want a double dissolution at this stage. Rudd is still riding on the popularity of the hand outs. It will take longer for unemployment to rise, and the reality of the deficit to take the place in Labor voters' minds of the free money they've received.

If a double dissolution were to be held in the immediate future, Labor would win. That would mean they have another three years in power.

The Libs need to make more of how an ETS will devastate business, and push up prices of everything for the ordinary Australian. This is a fairly fine line, however, as they can't afford to upset the climate change believers, though I guess they will largely be Labor voters anyway.

 

[Bobby]

Re: Does Rudd inspire confidence?

Any man who looks like an old woman with those puff cheeks and baby hair is suss.

But a woman being a woman in her full glory is something to behold. Have to replace Rudd 08 with a fresh strong face. Early Election Early Election 09 this is the one time I'll pray

Got me in Green , kinda like your direction please add more

 

[Calliope]

Re: Does Rudd inspire confidence?

You would have to have confidence in a prime minister who says;

"You know something, I have a great affection for our friends in New South Wales, because we share the same religion, and that's called rugby league," he said.

 

[Calliope]

Re: Rudd's Budget Insanity

Mr Rudd says he stands by the "tough budget decisions" despite a hit in the popularity polls.

What tough decisions?:dunno:

 

[MrBurns]

Re: Rudd's Budget Insanity

Mr Rudd says he stands by the "tough budget decisions" despite a hit in the popularity polls.

What tough decisions?:dunno:

He's a complete tosser, even when his popularity wanes he puts spin on it, "it's because of the tough decisions" oh yeah like mailing everyone a grand ???????