Yesterday our news bullitin friends here, Compare Shares, reported that US senators were trying to explain to the average Joe how much a trillion dollars is. So they gave the example that laying dollar notes end to end would go around the Earth over 38 times. I suggest Mr Rudd should use Uranus as an example for Oz.
I agree with the quality of Labour MP's but irrigating the Darling - Murray with Northern Australia's floodwater would create a world food bowl creating many more permanent jobs for our kids future not just the current drop in the ocean effect, the typical Labour management of finances is to spend now on anything and pay later with increased taxation etc.
...The only result I can see after spending $4 billion on insulation is that all the businesses that were created as part of the exercise will fold afterwards, all of the people that were working putting in the insulation will be out of a job afterwards, and all that will be left are some well insulated homes...
I also have a problem having any faith in Swan. I remember Costello mentioned a financial tsunami was headed our way a while back. But didn't Swan say we were light years away from a recession? It feels like there is no well thought out economic leadership. And I doubt the libs would be better off in control at the moment either.
Perhaps there is sense in building infrastructure now which will be needed when the recovery occurs.
Swan's an idiot, totally clueless.
Rudd and Swam both wait until after the **** hits the fan, then quickly scramble to come up with a policy, add a heap of spin and trick the majority of people into believing they saw it coming.
Furthermore Rudd has got to be one of the most uninspiring people on the planet, when he talks its basically monotone, he has no enthusiasm or energy in his voice and he comes across as weak.
Given the economic conditions we need strong leadership, we need someone to speak with conviction and say regardless of the situation life goes on and we will come out of this stronger, we do have a proper plan, we will implement it properly. This then needs to be followed through with actions.
Rudd is all talk, he has flown around the world numerous times to have his photo taken with leaders, called numerous summits and talk sessions, including the 2020 summit which was just a bunch of his mates (who already agree with him) and therefore no debate was stimulated. They should have just called it an agreement session, where everyone sits around and agrees with Rudd. If we follow Rudds line of thinking all we would believe is: The worlds doomed because of climate change, the worlds doomed because of the economic situation, the worlds doomed because of capitalism, the worlds doomed because the liberals delivered 10 yrs of economic growth, with low unemployment and economic prosperity, the worlds doomed because of this that and the other.
Could I get insulation for my car?
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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?Hmmmmm!
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?Hmmmmm!
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
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