Umm there is mention on the Keiser report that Glenn Stephens is looking towards more like an asia type central banking system rather than the west style. Also read somewhere if house prices inflate to double digit he will raise rates. He does not want to see house price go above 10% or something like that.
Cut all foreign aid, it should be a legal necessity that the country runs a budget surplus every year.
Not defending any political parties but Howard government during his term did sell off Telstra, Australia Post, Qantas and lets not forget the $10B a year profit, Commonwealth Bank, to help achieve the surpluses.
WHOA! Hang on a sec..... :lol: Keating privatised Qantas and as far as I am aware, Australia Post is still Government owned?
Not Australia Post and the QANTAS and CBA privatisations were essentially under Hawke/Keating and CBA was finalised under Howard in 1996. Keating also privatised other (smaller) stuff. To Howard Govt's record though you can add the suit of property sale-and-lease backs, DASFLEET, airports (eg Brisbane, Melbourne, Perth) and rail. The sell offs were great (Telstra was a bit botched on a number of fronts) with the revenues funelled to paying off the nearly $100 billion of debt inherited from Hawke/Keating. Importantly though the money from the privatisation was far less than the debt hence the surpluses were true surpluses not artificially inflated from asset sales.
Sorry apologies sometimes with all these facts floating in my head, I tend to be abit go abit hay wired
Swan could deliver a budget surplus tomorrow if he wanted (had support). * Disband the ADF * Get rid of Negative Gearing * Print a shed load of money I think it's a tad retarded to try and get the Federal Government to deleverage when both consumers and businesses are deleveraging. Race to the bottom? No thanks
^ I think it's retarded to take on debt during a financial crisis. If they wanted to stimulate the economy they should have cut spending and given tax cuts. As we've discussed in significant detail in other threads, the benefits of so-called deficit spending is a nonsense but one that suits the politicians and their bureaucratic advisers.
I wonder what the next liberal government will have to sell off to try and pay off the breathtaking debt hole that Labor has dug us into? The cost alone of Rudd having torn down the nation's borders will run into the hundreds of millions if not billions as an ongoing cost of the new welfare class flooding into the country.
The debate here should not be over who spent what - the debate should be over the system that BOTH parties preside over - a debt based system relying on exponential growth of the money supply. Both parties are failures and both parties will go to the toilet along with the whole system. It's only a matter of time.
Well, they could sell our gold. Oh, hang on they already did that. Must have been when spot was close to AUD $1800 being the champion economic managers they are
Neither Labor nor Liberal preside over a debt based system. They have NO choice in the matter. We're small fish pretending we're a big fish just because we are swimming next to the biggest shark in the ocean. Really though, we have no choice other than to play the game that the big boys choose
They do - but it's a moot point. The whole world is on the debt expansion money train. We could get off the train first and get a real monetary system based on tangible assets such as gold but we won't. Alas good ol' Pete Costello sold all our gold off for a pittance. Just goes to show both parties are useless and clueless. The arguments over which of the two economically illiterate parties that have governed this country for a century are pointless. BOTH PARTIES ARE ECONOMIC FAILURES.
They don't need to sell anything other than the Canberra civil service down the river. Seriously if the got rid of 2/3rds of the federal employees they wouldn't need to raise taxes. The problem we have is both Labour and Liberal governments have increased the silly service to the detriment of our economy. I hate big government, big business and unions. Small business is being choked by this three headed hydra. Kind Regards non recourse
Is this where Australia pegs it's currency to the USD, at 1AUD:0.20USD or something. Sweet How to unfloat a currency... hmmm... We've no doubt got the asian styled corruption already (Securency) - tick! Maybe i'll have to watch Keiser again (ack) to find out some more details. Not relishing the idea though, he was good when I was a PM's noob, but for me he rivals Alex Jones in the 'annoying to listen to' stakes - even if the message isn't so bad. So if house prices rise 10% in one year, he'll raise rates 25 basis points. Then when they rise another 10% the next year, he'll raise rates another 25. So in 7 years when house prices have doubled again, we'll have an extra 1.75% interest to pay on mortgages These guys are so open-ended and ambiguous. It'd be nice if they just had a policy, but they don't, and they don't know what they're doing. Are they popping bubbles? Are they propping up the AUD? Are they 'stimulating economic growth'? It's just a big lever and they never know which way they want to push it. Which begs the question whether ANYONE should be pushing it at all.
NSW has problems as well. http://www.smh.com.au/nsw/nsw-abandons-hopes-of-budget-surplus-next-year-20121220-2boty.html
All the states except QLD has unfunded superannuation for state public servants..Technically . they are bankrupt! Qld has the QDIC which has 53 billion $ in assets..The Qld balance sheet is about square allowing for current borrowings! All other states VIC, SA, and TAS fall into the same mould as NSW.. WA and NT may buck the trend! Regards Errol 43
I heard the govt is going to sell off the NBN when it is finally finished to private buyers.Won't this create another monopoly?
