Where did Labor spend all the money exactly?

Discussion in 'Markets & Economies' started by TheEnd, Aug 25, 2013.

  1. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    We had those when the Newman Govt got elected (many by the same people bleating about the mismanagement, wasteful spending and debt bingeing of the Bligh Govt). Can't please the people who have no consistent rational basis for their position on political issues and simply flap and winge about the weather today. Why anyone thinks compulsory voting from these people is rational is beyond me.

    A rational, thought-out consistent ideology is actually not that hard to find - maintaining that consistency in the face of the the implications is too hard for most people however.
     
  2. JulieW

    JulieW Well-Known Member Silver Stacker

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    I suspect it will only be 52 Bill until all those professional managers in the public service who put off kids until their eggs were fighting to get out, decide that half of their $120k salaries (plus super!) are a nice incentive. Compared to that the nieces who become temporarily employed at uncle's business long enough for the grant to kick in are a drop in the ocean.

    Middle class welfare, especially to buy votes, really annoys me!
     
  3. bordsilver

    bordsilver Well-Known Member Silver Stacker

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  4. Lovey80

    Lovey80 Well-Known Member

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    Fantastic post. I recently attended a union meeting where the union rep tried going political and defended the Labor party's debt and compared it to a household income. Problem was he was doing the figures as if income and gdp were the same thing
     
  5. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    The raw numbers. Bit tricky to see but every quarter in 2009-10 was below the same quarter in 2007-08 and the same has happened in the last 3 quarters (i.e. on average we have all been getting poorer over the past 9 months). Given this is the average, over half of the Australian population are likely to have been feeling this pain.

    In contrast, no quarter was below the previous year's quarter for the entire period between 1996-2008.

    [​IMG]

    Edit: A few typos on the graph, but should be self-explanatory.
     
  6. Old Codger

    Old Codger Active Member Silver Stacker

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    "Where did Labor spend all the money exactly?"



    Handouts to gullible socialist ZOMBIES!
     
  7. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    And committees.
    And big troughs for the Greens to feed out of.
    And on funding NGOs whose role is to lobby the Govt for increasing Govt and Govt funding (particularly to NGOs).
     
  8. Simba

    Simba Member

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    Some one? sent me a list of overseas gifts/aid? given out in the last 6 yrs and I didn't save it duuur. It was a LOT!!, anyone got any ideas?
     
  9. JulieW

    JulieW Well-Known Member Silver Stacker

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    That looks like a return to prosperity
    (or the wheels coming off)
     
  10. MyNamesNotBen

    MyNamesNotBen New Member

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    Wow thats crazy isn't it... Its almost like we had a global financial crisis start in 2008... Nah just kidding its all labors fault!
     
  11. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    A significant portion of the jump up in the Dec-2010 and 2011 quarters was due to the ~15% increase in the exchange rate. But rather than returning back to the healthy heart beat pattern it faltered and flatlined.

    Ordinarily the March quarter is the lowest in each annual cycle. Given the 10-15% fall in the exchange rate since Mar-2013 it'll be interesting to see whether the June and September quarters are actually stronger than the March quarter. I'd almost be betting that they will be lower.

    In context, after our backwards year of 2010 where average real incomes declined (the recession we supposedly never had), it is true to say that we have recently been enjoying the highest average real incomes ever in Australia's history, but that is what we are supposed to expect based on the continuous improvement in our standard of living. The upward trend is normal and the chaotic flatlining etc in recent years is clearly abnormal.
     
  12. JulieW

    JulieW Well-Known Member Silver Stacker

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    More lies from socialist supporters:
    :D

     
  13. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    :lol: Lies with statistics. Besides making up their own numbers separate to the ABS and overlaying them with ABS, their definition of real household disposable income is clearly different.

    6% annual increase under Rudd and 4.2% under Gillard??? Even ignoring population changes, over Rudd's entire period between Dec-2007 and Jun-2010 there was only an 8.03% increase. On a per capita basis it was only 2.99%. Over the entire period Dec-2007 to Mar-2013 there was a TOTAL increase of only 6.63% per capita (i.e. only 1% per year). Their numbers do not match up.

    In contrast the Howard era had an average annual increase of 2.8% per capita over the 11.5 years (or 4.15 per cent a year in total). Again, this is nothing like the supposed 5.4% in their graph.

    The numbers are all in ABS Catalogue Number 5206.0 - Australian National Accounts: National Income, Expenditure and Product.
     
  14. JulieW

    JulieW Well-Known Member Silver Stacker

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    Yes I'm really glad that conservatives never lie with statistics or we'd never be able to believe either side of politics.
     
  15. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    Everybody tries to tell stories with statistics. Some stories are even true and some statistics are even reliable.
     
  16. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    You might even say there was actually a recession where, contrary to political rhetoric, people (and the economy) went significantly backwards for a period - which is all this side discussion has been about.

    The same sort of decline in real incomes happened in 1989-1991 as well which was actually called a recession.
     
  17. JulieW

    JulieW Well-Known Member Silver Stacker

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    But not those from the Australian National University it seems.
     
  18. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    Are we grumpy today?
     
  19. TheEnd

    TheEnd Well-Known Member

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    'Under Labor electricity has increased 90%'......Ouch that ones really hurts! I think this is the 'main' reason things are so bad at the moment.....No one can afford the power bills, especially businesses......and they have to pass on the extra costs to the consumers to cover the costs of the power bills?

    Its like when petrol hits 1.60 or more every now and then......EVERYTHING goes up accordingly!
     
  20. JulieW

    JulieW Well-Known Member Silver Stacker

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    Of course! There's an election coming.
    :)
     

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