Second stimulus package discussion

[juw177]

nick2fish you are delusional.

Our country is in heavy debt as it is, dont get it confused with the previous surpluses. Spend like there is no tomorrow? Wake up, that is has already been done in the last decade of cheap borrowing and it made us broke. Every dollar spent now is one less dollar we will be able to spend in the future. Add interest repayments too.

debt is not a problem if your countries economic fundamentals are strong. Ours Are IMO

Are you sure?
http://business.smh.com.au/business/deep-in-foreign-debt-20081112-5msv.html

 

[nick2fish]

Cheers for the assessment mate, I'll cancel my appointment with my Physiologist.

Get the main spiel with my post.
I pay over and above tax to meet my families needs. I have a mortgage and I need a job otherwise my little house of cards falls down.

I got bumped of with RIO and now I have a 6 month contract and then Hope

We Ozzie's sit back and watch all our customers spend money on their economies, and we will pull the purse strings shut and bitch and moan about free trade.
You should wake up, as now we live in a global economy and because some Wall St Geeks found a way to pour money down a hole, it is a global response needed.
Anyway its late and I've gotta fly, c u in 6
Your assessment is totally off in my books, because we are not going to spend money like there is no tomorrow
We are spending because there is going to be a tomorrow.

 

[Aussiejeff]

Hahaha!

A SuperCapitalist jumps into bed with a SuperSocialist!

I wonder what Lowy stands to gain from their frenzied intercourse.

Oh, what interesting times we live in....

ONE of Australia's richest men and the head of the Westfield shopping empire Frank Lowy has thrown his weight behind the Rudd government's $42 billion stimulus package.

http://www.news.com.au/heraldsun/story/0,21985,25015321-5005961,00.html

 

[MrBurns]

ONE of Australia's richest men and the head of the Westfield shopping empire Frank Lowy has thrown his weight behind the Rudd government's $42 billion stimulus package.

Gee what a surprise, doyathink he might be looking for some of that to be spent in his shopping centers.???????????????? Naaaa he's just a good corporate citizen looking out for you and me

 

[Prospector]

Pity people didn't more carefully consider the 'professional qualifications' of Krazy Kev and his loony club before voting them into power, eh Prospector?

Now, who said you and I never agree!

Not me! Actually I think we have had some interesting discussions. And I voted for the other side too! : Well, I just dont trust trade unions to do the right thing for business; they just dont get that small business employs most of their people anyway!

 

[moXJO]

What is the use of having a debt facility if you never are going to use it.
We need government to spend money that they have saved now and if that spending is not enough ...borrow. But spend it on infrastructure, build an irrigated food bowl in the North, do it and do it now. Build the rail facilities to port so desperately needed, just do it now, not tomorrow when the boom is back, today even though there is a lesser need. Build just one road in Sydney that has enough lanes so that it doesn't turn into a gas chamber. Build a few more dams around the place so we don't have to watch so much water running out to sea and then start thinking about taking the salt out of it.

The time to do something is now and debt is not a problem if your countries economic fundamentals are strong. Ours Are IMO

I'm all for debt for infrastructure spending, if it has long term benefits. I wasn’t arguing against that. I was arguing for that, not quick cash splurges. There was enough waste in this package that it needs to be scrutinized. That’s the whole point of having an opposition. It's going to take what? A week or two, and people are whining already over not getting there cash handout. Its $42b for Christ’s sake is there that much wrong with checking it over.
We will need another stimulus in coming months, and possibly over coming years that will add a lot more debt. I do not want to see rushed plans with no after thought.

With upcoming workplace reforms, and carbon trading, I doubt there is much to look forward to for business confidence.
Business will fail, people will lose jobs. And those that leveraged to the hilt will feel the pain. That’s just how it is, and most likely unavoidable. It's happened before and no doubt will happen again.

 

[Calliope]

Does anyone doubt that the Newspoll coming out on Monday will show massive support for Rudd's spendfest. Most don't care much for Turnbull's values. The see him only as a threat to their handouts.

 

[knocker]

Does anyone doubt that the Newspoll coming out on Monday will show massive support for Rudd's spendfest. Most don't care much for Turnbull's values. The see him only as a threat to their handouts.

Mindless majority. Good luck to them, they deserve what is coming

 

[Buddy]

Does anyone doubt that the Newspoll coming out on Monday will show massive support for Rudd's spendfest. Most don't care much for Turnbull's values. The see him only as a threat to their handouts.

No doubt at all! The pigs (read "probably about 60-70% of the Australian population") can see the pig-swill coming and can't wait to get their snouts into it. And, I am talking about the cash handout, not the infrastructure bit (which is just the political part of krudds socialist agenda).

Capitain krudd, leader of the cargo cult, is spending like a drunken sailor. And the hypocrites out there are condeming Turnbull for questioning this. Pfft. You morononic idiots, I hope you go down before me, because I will not be lifting one finger to help you out of the quicksand.

 

[Terry Dactil]

I came across this explanation of how the Economic Stimulus will work.
I think it may be frighteningly close to the truth.

Sometime this year, taxpayers will receive an Economic Stimulus Payment. This is a very exciting new program that I will explain using the Q and A format:

Q. What is an Economic Stimulus Payment?
A. It is money that the federal government will send to taxpayers.

Q. Where will the government get this money?
A. From taxpayers.

Q. So the government is giving me back my own money?
A. No, they are borrowing it from China . Your children are expected to repay the Chinese.

Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV set, thus stimulating the economy.

Q. But isn't that stimulating the economy of China ?
A. Shut up.

 

[Prospector]

Hey Terry Dactil (Love the name) your post is in jest, but wouldnt stimulating the economy of China actually be a good thing for Australia?

 

[knocker]

Hey Terry Dactil (Love the name) your post is in jest, but wouldnt stimulating the economy of China actually be a good thing for Australia?

Um why? So we can get into deeper poo poo?

 

[knocker]

Maybe Australia should just proclaim itself a new state of Communist China. I mean after all, a large proportion of the population is Chinese and we rely soley on them.

 

[Prospector]

Um why? So we can get into deeper poo poo?

Why the bang head? When China advised that its growth was slowing to I think, 8%, that was when the Australian economy really started to tank. So, you are suggesting it is in our best interests not to help it stabilise? I think a few Mining based industries may have a problem with that.

 

[knocker]

Why the bang head? When China advised that its growth was slowing to I think, 8%, that was when the Australian economy really started to tank. So, you are suggesting it is in our best interests not to help it stabilise? I think a few Mining based industries may have a problem with that.

Um because digging **** out of the ground is only a stop gap measure. Why oh why has Australia turned itself into one big mining pit? **** we don't even have sheep anymore. All we have done in the last decade is sell house and dig holes. Well guess what? The grave is deep enough now. lol

 

[Prospector]

**** we don't even have sheep anymore. All we have done in the last decade is sell house and dig holes. Well guess what? The grave is deep enough now. lol

Hmm, well the drought took care of the sheep and as for the rest of your post all I can say is

 

[Beej]

Um because digging **** out of the ground is only a stop gap measure. Why oh why has Australia turned itself into one big mining pit? **** we don't even have sheep anymore. All we have done in the last decade is sell house and dig holes. Well guess what? The grave is deep enough now. lol

You really have an incredibly narrow (and incorrect) view of what actually goes on across the Australian economy.....

 

[prawn_86]

Just give the great unwashed a pair of oversized breasts and a happy ending, and they'll 'oink' for more every time.

While this may be true, we are not in a better position ourselves. So we can see whats going on, and see the govs actual motives, or at least predict what the outcomes will be. So What? What can we do about it? SFA thats what

Ignorance is bliss, so they say...

 

[juw177]

Guys, the growth in China is finished. Their growth depended on the reckless western consumer with access to easy credit. We are entering deflation which means commodity prices will go DOWN along with our exports. No stimulus can reinflate the unsustainable bubble.

 

[Prospector]

Guys, the growth in China is finished. Their growth depended on the reckless western consumer with access to easy credit.

Actually, I think China's growth is primarily internally focussed. The collapse of external markets hasn't helped but China will re-emerge.