ABC opinion piece, Australia has a surplus fetish

Discussion in 'Markets & Economies' started by Blockhead, Dec 15, 2011.

  1. Blockhead

    Blockhead Active Member

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    http://www.abc.net.au/unleashed/3729358.html


    this struck me as somewhat naive. thoughts anyone?
     
  2. Guest

    Guest Guest

    It's a fluff piece from good old Aunty coming into bat for Labor as usual Spend spend spend, Borrow borrow borrow.

    Ben Eltham is a writer, journalist, researcher and creative producer from Melbourne, Australia. (so we should pay attention why ?)

    We are already in dept that will take a generation or more to pay back , Comparing our debt to other basket cases is sort of like comparing the state of decay amongst rotting corpses, oooh look that one doesn't even have any bones showing yet.

    Heres some real figures on Swan and this Govt's achievements

    http://blogs.news.com.au/heraldsun/...bor_hasnt_lost_income_it_just_spends_too_much

    OOP's we're actually $34 billion out of pocket this year but never mind we will have a profit next year....sort of ....maybe...kind of.
     
  3. errol43

    errol43 New Member Silver Stacker

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    Saw recently where the NSW state budget is down somewhat..Seems like less GST revenue is the main cause, Public Transport costs up. No budget surplus for the next 3 years forecast..

    They are all the same I tell you..

    Politicians salaries up, Government Department Heads up, Nurses. police, teachers and workers flat out getting 3% a year.

    Meanwhile wages in California rise to nation wide high of $10.26 per hour.


    Oh Well. It will all be over soon.

    Regards Errol 43
     
  4. JulieW

    JulieW Well-Known Member Silver Stacker

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    As Max Keiser points out, politicians and executives peg the pay rises granted to them by their 'club' to the growth in money supply. The peasants are tied to an inflation/CPI increase in wages. Hence the obscene political pay rises this week.
     
  5. Nugget

    Nugget Active Member Silver Stacker

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    I read that excessive private debt usually ends up as public debt. Sorry but no link nor do I have an opinion if its true or not
     
  6. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    We have a leadership that is so busy playing politics in order to survive the internal warfare within their own cesspit of a party that they have no capacity to be a government. For the treasurer to want to force a surplus onto the economy at this point in history shows that he is about as qualified to be treasurer as a Kmart checkout operator.
     
  7. hiho

    hiho Active Member Silver Stacker

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    another example of keynesian influence on the irrational
     
  8. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    The title of the article is Our economy is a dream. The debate is a nightmare. which I think is very apt.

    If the government can borrow money at 3% and lend it out at 4.25% they're making a 1.25% profit on the trade. On a hundred billion dollars worth of debt, they could make make a lazy $1,250,000,000 just by doing a bit of paperwork (that would be largely automated anyway).

    Many of the billion dealers we buy our stacks from would be working on those kind of margins.
     
  9. Guest

    Guest Guest

    And here we are, plebs who bust their arses doing work they hate for a pittance of which the gubmint takes their share as they please and we're supposed to smile and take it 'for the collective good'

    Australia certainly has a lot of fetishes, interesting that public debt would be the focus on the headline and not something more obvious like... oh I dunno... HOUSING maybe?
     

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