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#721 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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Nice rebuttal. I should have realized that the "debt doesn't matter" mantra has spread. After all, it is preached by all of the economic "experts".
![]() A detailed response to this question would derail this thread. If anybody here is interested in exploring this issue, I will start up a thread about it in the economics section. |
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#722 |
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Director of Hatcheries and Conditioning
Join Date: Jul 2002
Location: Mt Disappointment
Posts: 33,457
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And it wasn't a lie. They were looking at treasury projections, and were managing their spending. If the unexpected drop in income had not happened, there would have been a surplus. As the drop started to happen, they trimmed off even more spending, by cutting some of the more stupid policies of the Howard era, such as the baby bonus. That was one policy every one agreed could do with some cutting. It is far better that Australia doesn't have a recession, and everyone with an ounce of brains is applauding their move.
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__________________
Continually pushing the boundaries of mediocrity. Everything is possible, but not everything is probable. For if a man pretend to me that God hath spoken to him supernaturally, and immediately, and I make doubt of it, I cannot easily perceive what argument he can produce to oblige me to believe it. Hobbes |
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#723 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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Then it is incompetence.
Incompetence again, then. More incompetence? But I start to wonder why Gillard (and Labor) would make promise if they might not be able to deliver. That would constitute a lie in my books. Got it. This is Howard's fault. Moreover, Gillard had no new spending of her own that needed funding. ![]() And once again, you fall into the simplistic trap of conflating economics with politics. She lied, they lied. If they couldn't control it they should not have promised it. They used a convenient lie at the time to deflect pressure and questions. She/they lied, and lied, and lied and lied. |
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#724 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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In the short term, it did soften the blow (borrowing money is always terrific in the short term). However, without the subsequent mining boom, I suspect that the relief would have been short lived. The Australian government would probably have been faced with the prospect of watching its strategy unravel or borrow increasing amounts of money in the attempt to stave off a depression.
Borrowing money to ride out a bust in the hope of being able to repay it when(?) the economy improves is a very risky strategy. Even if the economy improves, repaying the debt is often seen as a vote-loser. |
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#725 |
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In the Peanut Gallery
Join Date: Jan 2007
Location: Melbourne
Posts: 29,975
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__________________
A fanatic is one who can't change his mind and won't change the subject. Sir Winston Churchill |
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#726 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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#727 |
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In the Peanut Gallery
Join Date: Jan 2007
Location: Melbourne
Posts: 29,975
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How on earth do you think this supports your argument? I didn't need Google to tell me that the government was well aware of the receipts from the mining boom, and how this would quickly rein in the deficit. The government knew what it was doing, and if it didn't go into temporary deficit, unemployment would have gone through the roof.
Your "deficit is bad" mantra is voodoo economics, unsupported by economists. You do realise that insistence in surpluses lengthened the Great Depression unnecessarily, and deficit budgeting ended it? Perhaps not... |
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A fanatic is one who can't change his mind and won't change the subject. Sir Winston Churchill |
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#728 |
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Director of Hatcheries and Conditioning
Join Date: Jul 2002
Location: Mt Disappointment
Posts: 33,457
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Australia's debt ratio is significantly less than those nations with a debt problem. We are nowhere near the limit yet of how much we can responsibly borrow. Business and economists are complaining even now that the government has cut back to much on spending too quickly to try to achieve a surplus.
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__________________
Continually pushing the boundaries of mediocrity. Everything is possible, but not everything is probable. For if a man pretend to me that God hath spoken to him supernaturally, and immediately, and I make doubt of it, I cannot easily perceive what argument he can produce to oblige me to believe it. Hobbes |
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#729 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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By 2008 the stock markets all around the world were in free fall and threatening to take out the banking system as well. Yet if you look at the mining export charts in http://en.wikipedia.org/wiki/Mining_in_Australia, it shows that mineral exports defied that trend continued their meteoric rise regardless (although they don't say, "thanks to China". The other link points that out).
You are basically arguing that the Rudd government knew that China was about to take up the slack so it was safe to borrow a large sum of money. |
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#730 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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It's a good thing that the Howard government took advantage of the boom conditions in the 90's to pay off Australia's national debt. Otherwise, you would not be able to point this out.
ftfy. Well they are the experts.
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#731 |
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In the Peanut Gallery
Join Date: Jan 2007
Location: Melbourne
Posts: 29,975
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Treasury projections said so. Don't you live in WA? You do know about the massive investment in mines which were coming on line during the GFC? And the contracts in place?
Sure, China could have gone under and renege on the contracts. Deficit budgeting would then have been problematic. But only a believer in voodoo economics would think that. |
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__________________
A fanatic is one who can't change his mind and won't change the subject. Sir Winston Churchill |
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#732 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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It sounds like they are going to miss their predictions by a mere $20 billion. Worse, they can't even predict now what the deficit will be in a mere five months. If these are the "people who know what they are doing", then God help us. Now, please get back on topic before I feel compelled to report the off topic posts. Remember: Gillard needs asbestos pants. |
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#733 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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#734 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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That girl needs asbestos pants as well as underwear.
![]() http://www.heraldsun.com.au/opinion/...-1226541447000 A broken promise is a broken promise. If she was not in a position to make the promise, it is a lie. Her pants are on fire and people are saying "doesn't she have nice shoes".
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#735 |
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Adelaidean
Join Date: Sep 2007
Location: Australia, not that you'll read the "location" field.
Posts: 9,949
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#736 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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#737 |
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In the Peanut Gallery
Join Date: Jan 2007
Location: Melbourne
Posts: 29,975
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Quelle surprise.
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__________________
A fanatic is one who can't change his mind and won't change the subject. Sir Winston Churchill |
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#738 |
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Up The Irons
Tagger
Join Date: May 2007
Location: Melbourne, Australia
Posts: 25,504
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__________________
WHAT CAN THE HARVEST HOPE FOR, IF NOT THE CARE OF THE REAPER MAN? - Death |
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#739 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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Meanwhile we are off topic.
Is no one going to put Julia's pants out?
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#740 |
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Illuminator
Join Date: Apr 2010
Posts: 4,349
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__________________
"You are the epitome of the 'pigeon playing chess'. No matter how good I am at chess, you are just going to knock the pieces over, **** on the board and strut around like you've won something" "In this political climate, all of science is vulnerable to ideological attack when reality disagrees with political beliefs." |
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#741 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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Do we like the new addition to my sig?
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#742 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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#743 |
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Director of Hatcheries and Conditioning
Join Date: Jul 2002
Location: Mt Disappointment
Posts: 33,457
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__________________
Continually pushing the boundaries of mediocrity. Everything is possible, but not everything is probable. For if a man pretend to me that God hath spoken to him supernaturally, and immediately, and I make doubt of it, I cannot easily perceive what argument he can produce to oblige me to believe it. Hobbes |
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#744 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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Exactly. It also means you win; when they have no valid argument they attack. It is shallow, transparent and totally cowardly, but I expect no less anymore.
No doubt you can prove this? Perhaps you could show us that spending has not increased since Howard lost power. Something similar perhaps? If not I'm calling nonsense on this claim - which is off topic btw. But lies from the left are all the rage in this thread, I guess we don't have to limit it to the PM.
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#745 |
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Adelaidean
Join Date: Sep 2007
Location: Australia, not that you'll read the "location" field.
Posts: 9,949
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#746 |
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Illuminator
Join Date: Sep 2010
Location: 31°58'S 115°57'E
Posts: 4,891
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#747 |
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Up The Irons
Tagger
Join Date: May 2007
Location: Melbourne, Australia
Posts: 25,504
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__________________
WHAT CAN THE HARVEST HOPE FOR, IF NOT THE CARE OF THE REAPER MAN? - Death |
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#748 |
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Adelaidean
Join Date: Sep 2007
Location: Australia, not that you'll read the "location" field.
Posts: 9,949
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#749 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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Julia has nice shoes.
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#750 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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Julia Gillard has led the way with lies since she attained power. Others have been following her lead along the way as well. But I must say that for her to authorise her treasurer (and current acting PM) to continue with the most blatant of deceptions falls to another level.
They have both from time to time promised, confirmed and reconfirmed a commitment to a surplus. They have gone even further and have said Labor has in fact achieved a surplus. Gillard, Swan and colleagues sent out a report card to some of the electorate with this lie (quote): http://www.abc.net.au/pm/content/2013/s3684722.htm BACK IN SURPLUS. ON TIME AS PROMISED. In these uncertain global times there's no clearer sign of a strong economy than a surplus. We've delivered a surplus on time as promised. Labor plumbs new depths in deceit, led by habitual liars Gillard and Swan. Could they be any more stupid? I'm guessing yes. The political year has only just begun and Labor is visibly falling apart on a daily basis. Rabble. |
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#751 |
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Director of Hatcheries and Conditioning
Join Date: Jul 2002
Location: Mt Disappointment
Posts: 33,457
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So are the Liberal's promising a surplus? They can't seem to make up their minds. They could have quite easily made a surplus, it just meant cutting more spending to match the unexpected drop in income. That would have damaged the economy, so they didn't.
Meanwhile, Australia successfully manages to work it's way through the most difficult global economic times since the great depression, better than any other economy in the world. Not much to be proud of, I know.
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__________________
Continually pushing the boundaries of mediocrity. Everything is possible, but not everything is probable. For if a man pretend to me that God hath spoken to him supernaturally, and immediately, and I make doubt of it, I cannot easily perceive what argument he can produce to oblige me to believe it. Hobbes |
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#752 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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http://www.youtube.com/watch?feature...&v=WPuVm0CjbwU
"Failure is not an option". Except when it is, I suppose. She tells big fat lies. |
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#753 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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#754 |
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Suspended
Join Date: Oct 2009
Location: Melbourne Australia
Posts: 10,113
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Political 'operatives' hijacking local hospital debate
http://www.abc.net.au/news/2013-02-1...debate/4514538 This is quite serious in my view. The short version. Out of Parliament house comes a number of support messages around a local issue. These messages of support fly in the face of local opinion. The 'operatives' claimed to be working in and around the local area.
Quote:
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