Australian (ASX) Stock Market Forum

The Abbott Government

Jump to new
noco said:
ANDREW BOLT.....not the most favorite boy amongst the Fabians, nevertheless he does make a lot of sense as to what is going on in the Liberal Party.

No fear....no favor.

Maybe it is time for the Liberals to look in the mirror and change direction or else they will finish on the scrape heap with the Labor Party.

Arise the Democratic Liberals.... Senator David Leyonhjelm may have the answers to a new political party to suit the center.



http://www.heraldsun.com.au/news/op...urch-to-the-left/story-fni0ffxg-1227019659286
Click to expand...

I think the centre would find too many of his policies unpalatable eg

  • right to own firearms for self defence
  • deregulated and privatised public transport - bet some British ex pats could let him know how well that worked out for them
  • no foreign aid except for current emergency assistance
  • support the deregulation of universities ala current Government policy
  • The Liberal Democrats would increase opportunities to live and work in Australia...big Australia policy
It's a shame because they have a few policies I think a lot of people would support

  • assisted suicide
  • legalisation of marijuana
  • Adults must be free to make their own lifestyle decisions, including marriage, without interference by the government or any need for its approval.
  • The Liberal Democrats believe Peel’s Principles of policing should comprise the basis of all police activities.
  • The LDP does not generally support the criminalisation of victimless crimes and seeks to reduce the intrusion of government into these areas.

Someone just has to come up with some good policy and then bring the voters along in support of it. It's really that simple. Hopefully the major parties have started to overcome their deafness and realised we're sick of bad policy and short terminism.
 
sydboy007 said:
I think the centre would find too many of his policies unpalatable eg

  • right to own firearms for self defence
  • deregulated and privatised public transport - bet some British ex pats could let him know how well that worked out for them
  • no foreign aid except for current emergency assistance
  • support the deregulation of universities ala current Government policy
  • The Liberal Democrats would increase opportunities to live and work in Australia...big Australia policy
It's a shame because they have a few policies I think a lot of people would support

  • assisted suicide
  • legalisation of marijuana
  • Adults must be free to make their own lifestyle decisions, including marriage, without interference by the government or any need for its approval.
  • The Liberal Democrats believe Peel’s Principles of policing should comprise the basis of all police activities.
  • The LDP does not generally support the criminalisation of victimless crimes and seeks to reduce the intrusion of government into these areas.

Someone just has to come up with some good policy and then bring the voters along in support of it. It's really that simple. Hopefully the major parties have started to overcome their deafness and realised we're sick of bad policy and short terminism.
Click to expand...

So what is the solution to our current problems of getting the economy under control?.....what is the solution to keeping the cost of living down?

Any party will win votes so long as you fill their pockets with borrowed money.......this is how socialism works...use other peoples money until it runs out.
 
noco said:
So what is the solution to our current problems of getting the economy under control?.....what is the solution to keeping the cost of living down?

Any party will win votes so long as you fill their pockets with borrowed money.......this is how socialism works...use other peoples money until it runs out.
Click to expand...

We have 363 tax expenditures that could be targeted for reduction or elimination.

We waste billions on our military. The list of poorly managed major projects within defence is disgusting.

We need to stop killing the CSIRO by paper cuts every few years and fund them appropriately so we have the scientific resources to compete in the world. Abbot has cut yet more funding and now the only lab capable of dealing with diseases like ebola is shutting down. The fact we don't have a science minister is damning.

There is plenty of taxation reform that could be implemented. Just about every economist keeps saying we have to move away from taxing income and corporate profits. This Government is doing nothing to achieve this and in fact has caused a further narrowing of the tax base with an even higher reliance on income taxes. A higher revenue share collected from indirect taxes is what we need.

The 2 biggest growth areas of government spending is the aged pension and health.

The largest tax leakage is super.

Howard filled everyone's pockets with borrowed money, because he set up a structural deficit within the budget. He set spending at a level that was only affordable with a terms of trade boom so large it's more than a once in a century event.

Now we don't have GNI rising faster than GDP, in fact it's still falling and has a lot further to go before it's back in line with GDP growth, and considering the ToT has probably another 20% or more to fall, it's quite likely that the negative outlook for GNI will continue well after the next election. Falling real wages is the medium term future for the majority of Australians, which in turn means Govt revenues are not going to be following Howard's golden run when Aussies were net negative savers for awhile.

We wont have another $1T Chinese lead stimulus package to get us out of trouble. Sorting out the budget and regaining our competitiveness is going to have to be the old fashioned way.
 
noco said:
Any party will win votes so long as you fill their pockets with borrowed money.......this is how socialism works...use other peoples money until it runs out.
Click to expand...


So it was the left wing commos that sunk the US through the GFC (remember all that borrowing?)and then printed all the money afterwards............sorry its how the right works expecting the peasants to pay
 
noco said:
So what is the solution to our current problems of getting the economy under control?.....what is the solution to keeping the cost of living down?
Click to expand...

Baby steps, baby steps.

I look back at the result of the last Federal Election with an irrepressible glee; seeing the odious Mirrabella nee Penopelopoloplous being well and truly rid of... well at least the Holbrook is safe.
And Now the Indi independent, The Honourable Mrs McGowen is working with a group of others to change Legislation to allow the cultivation of Industrial Hemp. Canada Grows it . The UK grow It . The Chinese Grow it.
We have to import it.
There's not a farmer I've met younger than Fifty with or without a degree that doesn't see the advantage as a rotational crop.
You want to help The Australian Economy? Start writing a few letters to to your party and or member of choice asking why it is that you want to hold Australia Back.

If they're honest the reply will be; immaturity of the average, 'ordinary', voter. Hey noco?
 
sydboy007 said:
We have 363 tax expenditures that could be targeted for reduction or elimination.

We waste billions on our military. The list of poorly managed major projects within defence is disgusting.

We need to stop killing the CSIRO by paper cuts every few years and fund them appropriately so we have the scientific resources to compete in the world. Abbot has cut yet more funding and now the only lab capable of dealing with diseases like ebola is shutting down. The fact we don't have a science minister is damning.

There is plenty of taxation reform that could be implemented. Just about every economist keeps saying we have to move away from taxing income and corporate profits. This Government is doing nothing to achieve this and in fact has caused a further narrowing of the tax base with an even higher reliance on income taxes. A higher revenue share collected from indirect taxes is what we need.

The 2 biggest growth areas of government spending is the aged pension and health.

The largest tax leakage is super.

Howard filled everyone's pockets with borrowed money, because he set up a structural deficit within the budget. He set spending at a level that was only affordable with a terms of trade boom so large it's more than a once in a century event.

Now we don't have GNI rising faster than GDP, in fact it's still falling and has a lot further to go before it's back in line with GDP growth, and considering the ToT has probably another 20% or more to fall, it's quite likely that the negative outlook for GNI will continue well after the next election. Falling real wages is the medium term future for the majority of Australians, which in turn means Govt revenues are not going to be following Howard's golden run when Aussies were net negative savers for awhile.

We wont have another $1T Chinese lead stimulus package to get us out of trouble. Sorting out the budget and regaining our competitiveness is going to have to be the old fashioned way.
Click to expand...

It could all happen if only the Green/Labor socialist left would get out of the way and show some national interest instead of trying big note themselves with point scoring.:banghead::banghead:
 
IFocus said:
So it was the left wing commos that sunk the US through the GFC (remember all that borrowing?)and then printed all the money afterwards............sorry its how the right works expecting the peasants to pay
Click to expand...

What has the yanks got to do with Australian politics?

This thread is about the Abbott Government.

I am talking about the stupidity of Governments dangling the carrot in front of the naive like sending out $900 checks to spend on Chinese goods, grog and poker machines....like giving out free insulation.

Fill the voters pockets with money and you will always be popular but then comes the time when the credit card becomes overloaded and at the end of the day, someone has to pay...like you and me so then it is taken out of our pockets and that is when Governments become unpopular.

Socialism is a wonderful thing until you run out of other people's money.

Get the picture?
 
noco said:
What has the yanks got to do with Australian politics?

This thread is about the Abbott Government.

I am talking about the stupidity of Governments dangling the carrot in front of the naive like sending out $900 checks to spend on Chinese goods, grog and poker machines....like giving out free insulation.
Click to expand...

A counter-cyclical approach that just about every economist endorsed.
 
banco said:
A counter-cyclical approach that just about every economist endorsed.
Click to expand...

Correction, an approach every Keynesian economist endorsed. It is a shame these Keynesians didn't endorse counter-cyclical approaches, true to their Keynesian doctrine during the boom; Keynesianism only invoked once the cold hard truth that, no, it is not different this time, smacked them fair between the eyes.

It was also unnecessary and destructive, the consequences of which are beginning to show in the economy at street level.
 
I am talking about the stupidity of Governments dangling the carrot in front of the naive like sending out $900 checks to spend on Chinese goods, grog and poker machines....like giving out free insulation.
Click to expand...

How do you know what people spent the money on ? Maybe they bought a lounge suite, a computer or a TV.

The idea was economic stimulus and it worked.
 
SirRumpole said:
How do you know what people spent the money on ? Maybe they bought a lounge suite, a computer or a TV.

The idea was economic stimulus and it worked.
Click to expand...

But Rumpy, I keep saying it over and over again.......those $900 cheques Ruddie gave all the rich and the poor was just a loan and now we have to pay it back and the naive are screaming from the roof tops.

http://fbe.unimelb.edu.au/__data/assets/pdf_file/0008/796985/1166.pdf

16
test rejects the hypothesis that the impact of the two stimulus packages was the
same (
p
-value = 0.038).
19
In summary, we found a significant increase in gaming expenditures of
approximately 10.4% for the first stimulus and 15.9% for the second stimulus for
a total of approximately 26.3% for the 4 months. A test of the hypothesis that the
impact was the same across the states could not be rejected. However, a test of
the hypothesis that the two stimulus packages had the same impact on EGM
revenues could be rejected (at the .05% level). Payments in the first stimulus
were targeted at low income households
and pensioners. The payments for the
second were given to a wider group with a diverse range of income households
benefitting. This provides corroborating
evidence with numerous media reports at
the time that there was a surge in pokie spending with economic stimulus
payments (see eg. Reilly 2008; Dowling 2009).
20
5. A Short-run Income Elasticity
Using the results reported in Table 2 we can estimate the short-run
aggregate disposable income elasticity for electronic gaming machines. By
rescaling our total 26.3 % increase for 4 months we obtain an approximate 20%
increase for the quarter. The total of the two stimulus packages paid directly to
households was $21 billion and the averag
e total gross disposable income was
measured as $215.4 billion in the last
quarter of 2008 and $198.0 billion in the
first quarter of 2009 (in current dollars).
21
Thus we can use an average of $206.7
billion as the quarterly disposable income which implies that the stimulus
 
This provides corroborating
evidence with numerous media reports at
the time that there was a surge in pokie spending with economic stimulus
payments (see eg. Reilly 2008; Dowling 2009).
Click to expand...

So people who already played the pokies, spent a bit more on them, big deal. What is the actual proportion of those people who received the cheques that play the pokies ? Very small I would say.
 
SirRumpole said:
As will anyone capable of looking at the facts of our performance vs other countries during the GFC.
Click to expand...
.

How many other countries post GFC, were having a massive resources boom that went on for the following 4 years.
How many countries were screaming for overseas workers and handing out 457visas, as fast as they could print them.

No best to believe the BS and try to re write history.
Our stmulus wasn't required untill 2011.
But by then, Labor had blown the budget, blown the surplus and just about everything else it had laid its hands on.

You just have to look at how many senior Labor ministers jumped ship last election, to realise what a disaster the whole Labor experiment was.:D

Absolute rabble.IMO
 
sptrawler said:
Even Glen Stevens, is saying the Government needs to impliment change, like it or not.

https://au.news.yahoo.com/thewest/business/a/24762360/rbas-stevens-says-confidence-is-worry/
Click to expand...

Yes sp, it is a must but it will only fall on the deaf ears in the Green/Labor left wing socialist....they care not as long as they succeed in making the LNP fail in their attempt to bring the economy under control after a disastrous 6 years of Green/Labor failures and stuff ups.....these ex union hacks who call themselves politicians, have nothing between those deaf ears......you could blow smoke through one ear and watch it come out the other side.
 
Of course we need change, but to take the country with you it has to be seen as fair.

The Libs have made a hash of it and no amount of Newscorp propaganda will turn that around as the number of people buying their papers, or even listening to them is dropping rapidly according to figures leaked to Crikey. People aren't dumb and most don't like having facts twisted.

Everyone should watch this weeks Media Watch to see even the right in the form of Alan Jones is attacking the Courier Mail for being biased. http://iview.abc.net.au/programs/media-watch/FA1335H029S00

As they are on the ropes, the Liberal party is resorting to Nationalism with the Team Australian push which looks like backfiring as though they knew they would alienate some multicultural communities they may struggle to get any gains in the general populace as Palmer with his China comments has just blown up the tactic while it was just getting started.

("Patriotism is the last refuge of a scoundrel."-Samuel Johnson)
(“The most brilliant propagandist technique will yield no success unless one fundamental principle is borne in mind constantly - it must confine itself to a few points and repeat them over and over.”
― Joseph Goebbels)

For an idea what they are up against, there is a picture of Abbott going around in the twittersphere where due to his rapidly increasing hair loss and unfortunate lighting in an interview he looks a bit like a former dictator, and this is where many younger people get their information now. I think they desperately need new media advisors.
 
Knobby22 said:
As they are on the ropes, the Liberal party is resorting to Nationalism with the Team Australian push which looks like backfiring as though they knew they would alienate some multicultural communities they may struggle to get any gains in the general populace as Palmer with his China comments has just blown up the tactic while it was just getting started.
Click to expand...

I wonder when the first use of the term "un Australian" will come in the budget debate battle ?
 
Top