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The Abbott Government

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Smurf1976 said:
I take comments of this nature from the RBA fairly seriously given that they normally avoid commenting publicly on party political matters. It's not as though they comment on every tax or spending change unless it's either directly related to banking etc or is sufficiently drastic that they feel compelled to comment on it. :2twocents
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Yes Smurph, at the moment all the media want to talk about is promises.

Maybe someone should promise them, we're in the poo, unless we start addressing the issues.

They could start by asking Shorten what they would do to address the issues, especially since they are opposed to all the governments suggestions. After all they caused the fiscal problems, rightly or wrongly.
 
Smurf1976 said:
I take comments of this nature from the RBA fairly seriously given that they normally avoid commenting publicly on party political matters. It's not as though they comment on every tax or spending change unless it's either directly related to banking etc or is sufficiently drastic that they feel compelled to comment on it. :2twocents
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+1. Further, this evening Dr Martin Parkinson, Secretary of the Treasury, has largely supported the government's budget. (ABC Radio News 6pm )

In ghastly contrast, "7.30" this evening featured the extremely confident Jacquie Lambie, member of PUP, who - presumably because of her career in the Army - knows that all the Budget is complete rubbish, and the government are 'psychopaths'. She seems to base this on the fact that Australia presently has a AAA credit rating. It doesn't seem to occur to her that unless spending is curtailed, that credit rating (for what it's worth given the AAA rating given to Lehman's just before it collapsed) will be downgraded, thus increasing Australia's interest bill.

She advocates a big tax on the big banks because they make billions in profit. If she were asked what that represents in terms of % return she wouldn't have the faintest idea. Billions of dollars sounds much more awful.

The absolutely frightening feature of this woman, rather like Pauline Hanson, is that her populist nonsense will appeal to a bunch of similarly ill educated voters out there and we will see PUP continue to rise in popularity.
 
ORGANISERS of a Melbourne rally against changes to higher education have upped their turnout predictions, with more than 2000 students now expected.

La Trobe University student union president Rose Steele, who will address protesters when they converge on the State Library at 2pm before marching through the city’s streets, said support continued to flow in.

“Students know this Budget is really going to hurt them and they’re angry and they’re getting active about it,’’ she said.

“It’s really important to see students demonstrating around this issue.”
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http://www.heraldsun.com.au/news/vi...t-education-cuts/story-fni0fit3-1226925278792

A fair percentage of these 2000 whingers are doing mickey mouse courses like Business Studies, Sociology, Philosophy, Art History, Media Studies etc, which give them plenty of spare time to make mischief, but will never land them in a useful job anyway. So they will never be paying back their student loans.:rolleyes:

Rather than wasting money on them, it should be diverted to train apprentices. Qualified tradesmen earn more money and make a greater contribution to the economy than these over-indulged bludgers ever will.
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Don't see too many taxpayers over 180k a year planning mass demonstrations for the deficit levy (ahem tax) they have to pay @ 2% of gross income :rolleyes:
 
sptrawler said:
Possibly they are at work, or maybe on their 3 week away roster.
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Reminds me of a joke I once heard and it goes like this:

A Liberal voting couple lived on the third floor of an apartment block, a Labor voting couple lived on the second floor of the same block and some university students occupied the lower levels. There was a terrible earth quake and the building collapsed.

Who died in the collapse of the building?

No one died as the Liberal voting couple were hard at work, the Labor voting couple were attending a 3 day union rally protesting working conditions and the university students were busy storming parliament :p:
 
trainspotter said:
Reminds me of a joke I once heard and it goes like this:

A Liberal voting couple lived on the third floor of an apartment block, a Labor voting couple lived on the second floor of the same block and some university students occupied the lower levels. There was a terrible earth quake and the building collapsed.

Who died in the collapse of the building?

No one died as the Liberal voting couple were hard at work, the Labor voting couple were attending a 3 day union rally protesting working conditions and the university students were busy storming parliament :p:
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Too true...too true...:D:D:D:
 
sptrawler said:
They could start by asking Shorten what they would do to address the issues, especially since they are opposed to all the governments suggestions. After all they caused the fiscal problems, rightly or wrongly.
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Howard helped immensely with the structural deficit by:

* reducing then freezing fuel excise

* tax free super for over 60s

* massive increases in middle class welfare - that great baby bonus idea and increased FTB part B spring to mind

* halving of the CGT

* above has had major implications for the property price boom which has decimated productivity in Australia and probably the main cause for wages HAVING to be competitively high

So while it's fair to blame Labor for plenty of the current mess we're in, Howard and the previous Liberal Govt have plenty of the blame to share as well. The current situation is due to a 10+ year period of poor policy compounding poor policy.
 
sydboy007 said:
So while it's fair to blame Labor for plenty of the current mess we're in, Howard and the previous Liberal Govt have plenty of the blame to share as well. The current situation is due to a 10+ year period of poor policy compounding poor policy.
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Not so fast sydboy007 ... I don't know of any country that has spent it's way to a recovery?

As for the reasons that the downturn here was not as bad as it has been elsewhere, there are four parts to the explanation that I can see.

There is firstly the extraordinary fiscal situation the government inherited. We not only had no deficit, we actually had no debt. Australia was the only country in the world not to have any public debt whatsoever, a situation that it is almost impossible to imagine returning any time soon.

There was then the mining boom built on the back of the Chinese stimulus. That has gone, in large part because the Chinese must now themselves deal with the problems that their own stimulus created in their own economy. But we have added to our own slowdown in mining through a series of policies that have made miners more reluctant to invest in Australia.

Third, our banking system was almost entirely untouched by the financial crisis which spread internationally due to the ownership of various toxic assets generated in the US financial system. Our banks were fine, so Australia had no problems of this kind to overcome.

And lastly – but this will make little sense to most people – the RBA kept interest rates up rather than pulling them down. No quantitative easing in these parts with the result that the national savings we generated were used more productively than elsewhere. You can’t stop governments from squandering what they squander, but at least the private sector was kept on the straight and narrow.
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http://quadrant.org.au/opinion/qed/2013/08/the-bill-comes-due-for-rudd-s-misdiagnosis/
 
sydboy007 said:
Howard helped immensely with the structural deficit by:

* reducing then freezing fuel excise

* tax free super for over 60s

* massive increases in middle class welfare - that great baby bonus idea and increased FTB part B spring to mind

* halving of the CGT

* above has had major implications for the property price boom which has decimated productivity in Australia and probably the main cause for wages HAVING to be competitively high

So while it's fair to blame Labor for plenty of the current mess we're in, Howard and the previous Liberal Govt have plenty of the blame to share as well. The current situation is due to a 10+ year period of poor policy compounding poor policy.
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Thanks syd.

While not totally agreeing with your arguments, I accept them as valid.

I still feel that if Howard had been re-elected he could have proceeded through the GFC better than Labor did by sensibly rolling more of those back which Labor did not have the wit to do.

gg
 
The media is so focused on Abbott and trying to bag him, that Australia and the discussion regarding its economy seems to carry no importance.

It's as though they are on a feeding frenzy, hope it works out for them, but it hasn't in the past.:D
 
The first part makes zero sense unless they mean because Australia had low debt we could afford stimulus measures?

As for the reasons that the downturn here was not as bad as it has been elsewhere, there are four parts to the explanation that I can see.

There is firstly the extraordinary fiscal situation the government inherited. We not only had no deficit, we actually had no debt. Australia was the only country in the world not to have any public debt whatsoever, a situation that it is almost impossible to imagine returning any time soon.
 
banco said:
The first part makes zero sense unless they mean because Australia had low debt we could afford stimulus measures?

As for the reasons that the downturn here was not as bad as it has been elsewhere, there are four parts to the explanation that I can see.

There is firstly the extraordinary fiscal situation the government inherited. We not only had no deficit, we actually had no debt. Australia was the only country in the world not to have any public debt whatsoever, a situation that it is almost impossible to imagine returning any time soon.
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The funny thing is, now we have debt and are running a deficit, Labor don't want to stop it blowing out.

Who are they really trying to help? Noco isn't looking so off the planet.lol
 
Garpal Gumnut said:
I still feel that if Howard had been re-elected he could have proceeded through the GFC better than Labor did by sensibly rolling more of those back which Labor did not have the wit to do.
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+1.

One of John Howard's most notable characteristics was his calmness, something that was so absolutely lacking in the panic of Swan, Rudd et al's response to the GFC.
 
My niece has managed to get into medicine. She is a country girl from an average family with both parents working bringing in less than $100000 a year. Under the new budget she can expect to owe $180000 at the end of her degree. Baby boomers got free education. I think this is very unfair and I fear for my children.

I actually can't sleep. Now there are mooted super changes etc. I wish we could call another election. My only hope is Clive Palmer who seems to have more interest in the average person. I am truly disgusted by this government. The outright lies. The determination to act for the lobbyists. I wish I had never voted them in.

The determination to attack families to advantage the rich is terrible. Bring back the old party who use to help families. Raise the tax rates rather than destroy the aspirations of middle class families.

I will never believe anything Tony Abbott says again. I expect to be howled down in this thread but I truly have lost faith in the Coalition. The budget is a list of broken promises and should be blocked in the senate. We cannot let such deceit take place. The polls for the Libs will only get worse and this will be a one term government and I will become politically active to try to ensure this.

I was a big fan of John Howard and can't believe it has come to this.
 
Knobby22 said:
My niece has managed to get into medicine. She is a country girl from an average family with both parents working bringing in less than $100000 a year. Under the new budget she can expect to owe $180000 at the end of her degree. Baby boomers got free education. I think this is very unfair and I fear for my children.

I actually can't sleep. Now there are mooted super changes etc. I wish we could call another election. My only hope is Clive Palmer who seems to have more interest in the average person. I am truly disgusted by this government. The outright lies. The determination to act for the lobbyists. I wish I had never voted them in.

The determination to attack families to advantage the rich is terrible. Bring back the old party who use to help families. Raise the tax rates rather than destroy the aspirations of middle class families.

I will never believe anything Tony Abbott says again. I expect to be howled down in this thread but I truly have lost faith in the Coalition. The budget is a list of broken promises and should be blocked in the senate. We cannot let such deceit take place. The polls for the Libs will only get worse and this will be a one term government and I will become politically active to try to ensure this.

I was a big fan of John Howard and can't believe it has come to this.
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+1 Knobby.

We have seen what an extreme Right wing Tory government wants to do TO the country, not FOR it and why we shouldn't give them the chance to do it again.

Under different leadership, the Libs may do some good, but not under this one.
 
Knobby22 said:
My niece has managed to get into medicine. She is a country girl from an average family with both parents working bringing in less than $100000 a year. Under the new budget she can expect to owe $180000 at the end of her degree. Baby boomers got free education. I think this is very unfair and I fear for my children.

I actually can't sleep. Now there are mooted super changes etc. I wish we could call another election. My only hope is Clive Palmer who seems to have more interest in the average person. I am truly disgusted by this government. The outright lies. The determination to act for the lobbyists. I wish I had never voted them in.

The determination to attack families to advantage the rich is terrible. Bring back the old party who use to help families. Raise the tax rates rather than destroy the aspirations of middle class families.

I will never believe anything Tony Abbott says again. I expect to be howled down in this thread but I truly have lost faith in the Coalition. The budget is a list of broken promises and should be blocked in the senate. We cannot let such deceit take place. The polls for the Libs will only get worse and this will be a one term government and I will become politically active to try to ensure this.

I was a big fan of John Howard and can't believe it has come to this.
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'(read in pirate voice)
Ahh come on Knobby, don't be like that.... 'They've stopped the boats'
 
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