Hmmmmm!This package is the most irresponsible economic pile of claptrap produced by Keynesian lemmings, that this country has ever seen. There may be merit in boosting infrastructure spending (there always is justification for that) but the pork barrelling give aways indicates the total lack of experience and naievity that these politicans exhibit. It will not have any positive impact on the world's state of finanical affairs (Australia is irrelevant in thie equation)and is simply a populist exercise on the masses, who have about as much knowledge of finance and economics as a gnat. (that does not include ASFers, who are a very knowledge bunch - maybe we should be running the country).
The commentators, as usual, as slamming Turnbull. Of course, they have all lived through a recession/depression and have the wisdom of Solomon. But politics aside, it strikes me that this man has more credibility in finance and Australia's future wellbeing than this lot. Keynesian policies might work to tinker the levers wheels and buttons but have never worked when things get critical. And it strikes me as ironic that these people really believe that spending the future wealth of Australia is going to get them out of this mess. They must have a greater sense of their own (and Australia's) importance than everyone else on the planet.
None of this will work, and thanks to these policies, the country is inextricably sliding into the mud.
Even though (some) people say the USD will tank, and maybe it will, the US bond yield is increasing. IMHO I think the world will see a period of deflation followed by potentially severe inflation. At the same time the AUD is probably heading for the low 50s (maybe lower). This does not bode well for Australia, and the krudd/duck policies will hasten this decline. And leave a lasting debt for the future. Of course, there is a theory going around that this is exactly what these Keynesians are all about (debt reduction via inflation).
If any of this is true, and I suspect it is, then every single person over the age of, say 50, should be extremely worried by this government's policies. You're savings/superannuation are rapidly erroding. I hope you like working. And every single person under the age of, say 50, should be extremely worried by this governemnt's policies. You will have a massive debt burden. I hope you like working.
This bunch of nincompoops has to be, as cuttlefish says, physically restrained. What really worries me though is that the great unwashed out there think that krudd/duck/and the woman with the horrible voice, are doing a good job. Have a look at the newspaper polls. Just shows how easy it is to corrupt the Australian dumbed down population via bribery. There is no hope and the light at the end of the tunnel is surely a large freight train.
It seem to me that virtually a 100% of ASFers hold the view (and lets face it, we are a pretty intelligrent buch) that this lot are practicing economic vandalism. So what are we going to do about it?
Partake in interlocutorial intercourse?
It seem to me that virtually a 100% of ASFers hold the view (and lets face it, we are a pretty intelligrent buch) that this lot are practicing economic vandalism. So what are we going to do about it?
Nice post but it would have been better if you would have devoted even a little of it to suggestions of a better alternative.
You can't be an ostrich in these times.
I'm sure you can agree that the best and most logical way of trying to soften the blow to the economy is to go and build something that will benefit society and which is something that we NEVER do in boom times when we are trying to break budget surplus records.
As for the cash give aways, you do need instant measures to ensure the money will keep circulating. That is why we won't get any because they know that we will either pay down debt or save.
IMV,inaction is the danger here, not if we overspend by a few billion.
The boom will be back and my kids will be happy to sacrifice a bit of hard earned to pay for the work entailed in ensuring their future education,health and economic welfare have been met
Nice post but it would have been better if you would have devoted even a little of it to suggestions of a better alternative.
You can't be an ostrich in these times.
I'm sure you can agree that the best and most logical way of trying to soften the blow to the economy is to go and build something that will benefit society and which is something that we NEVER do in boom times when we are trying to break budget surplus records.
As for the cash give aways, you do need instant measures to ensure the money will keep circulating. That is why we won't get any because they know that we will either pay down debt or save.
IMV,inaction is the danger here, not if we overspend by a few billion.
The boom will be back and my kids will be happy to sacrifice a bit of hard earned to pay for the work entailed in ensuring their future education,health and economic welfare have been met
, and funnel debt overseas. If handouts are so wonderful then why not give to everyone on the proviso that they have to spend on consumables. And what differentiates the so called rich against the poor with regards to this sort of claptrap policy on the run. By the way have you asked your kids about this sacrifice? If you have, and they said fine, then all I can say is well done for bringing with such a fine sense of civic duty . And forget about the "boom will be back". That's years away, and besides I hardly think this last "boom" really had any lasting long term benefit for Australia. IMO it was an opportunity lost by government. But I will say that if the politicans followed Austrian economic theory rather that Keynesian, then IMO we would not even be in this mess. Although having said that, so would other countries.
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