There is two VERY good reasons for this! Firstly, that bunch of fiscal pigmys known as the Labor party used "historically low interest rates" to borrow money to finance the biggest piss and pokie binge in Australia's history. Now spending on top of this will make low interest rates a moot point because the interest albeit low would in nominal dollars be unsustainable if we went on a further binge on productive infastructure. I think I am right when I say that most that are intending to be voting Liberal at the next election would say that if we were sitting here talking about an election where the incumbent Labour government had got us 200billion in debt but as a result we had a high speed freight/passenger network, better roads/tunnels bridges, ports to alieviate the mining bottle neck, better water security/flood mitigation and better airports, and even an NBN to show for it. Then most would feel a lot better about the huge burden that they and their grandchildren are now lumped with. Secondly, you are just as near sighted as politicians with a 3 year election cycle. Those "historically low interest rates" aren't here for ever. In times of low rates, we need to use that opportunity to pay down the principle so that when the rates turn north, the pain is all that much less. Also, paying down the principle will keep the downward pressure on those rates making it that much easier to pay off the principle.... We as a nation are a decade away from a very big fiscal problem- the retiring of the baby boomers. The generations behind them have to fund not only their pension entitlements and their own but the current debt and the deflationary pressures that these things bring. Let's not make it worse by adding more debt to the problem.
True. There was little that the government of the time could do about personal debt apart from ditching some of the incentives to property investment. But Howard did indeed run a fiscally responsible treasury on balance. And a big thing for me personally is that neither he nor Tony Abbott was tainted by corruption. This Labor government is swimming in corruption as are their state branches. How many ex presidents of the National Labor Party are facing investigation around union fund allegations? This is not acceptable to me for an Australian political party.
The reason that we have historically low interest rates are in no small part the RBA trying to limit the economic damage that Swan has inflicted on our economy. In the end if Labor regain government Australian businesses will shed staff, stop hiring and start moving off shore. Who is going to pay for all the welfare then?
^ and to take some heat out of our dollar. With the way the world is at the moment the choice is either keep rates down, or have the AUD skyrocket until we are all unemployed. I'm not trying to support labour labor here but I do think that it is not entirely their fault. I don't think the govt or the RBA really have that much influence over our economy anyway. Biggest issue I see is accountability - Both JH and Juliar are on the record telling us blatant lies. Why do we let ourselves be treated like that? Where is our dignity? IMHO the first broken promise by any party leader should be grounds for the GG to dissolve the govt. Instantly.
We will see the very worst of our politicians over the next 7 months, I hope that at least a few people in both parties keep their dignity but I doubt it. It is not going to be a time that we shine as a nation and it's very likely that our parliament will degenerate into something that we will not admire at all.
Based on past events, I think you are right, most sensible people have made up their minds. How much evidence do you need ?
I think its the best time to make a decision on candidates .You get to see who is a do anything to win scumbag & who isnt .If they got nothing to offer they usually go on the personal attacks & try to discredit the others .
Half a dozen members of the RBA board have broken with precedent and spoken publicly on the need for both parties to stop bickering about surpluses and start building infrastructure to keep the economy going as the mining boom tapers off. These are independent experts who are appointed based on their knowledge and experience in both the public and private sectors. They are the government's own bankers saying "No, really, now is a good time to borrow money and start building stuff we'll need in the future".
Just a thought on this subject, I would be very interested to know, politics aside, who we regard as being a "decent enough politician" within the current federal parties? Who do you regard as someone who is reasonably clever, honest and possibly a worthy politician on either side? If you had to put together a "state of origin" type team as a government with people from both sides, who would you regard as worthy? Gillard and Abbot are excluded. Who are the "Good blokes" in your opinion?
Some of you may remember a few years ago when Prince Charles was visiting, a crazy Chinese student approached the podium firing a cap gun (which no one knew was at the time). Then Premier John Fahey along with Ian Kiernan wrestled him to the ground well before Charlie's bodyguard reacted. I don't remember much of Fahey's politics but I did think he show his quality and I would question would any of today's pollies show that courage and quick thinking? Or sh$t themselves and make it into some political statement...
Kate Ellis. They are all good for nothing leadership wise so might as well have something to look at.
And who is going to pay for it when we are 500 billion in hock? How much is this infrastructure going to increase GDP/revenue and by how much? You simply don't get that we simply can not afford it.
Well, the glory over calling an election this early to "provide certainty" to business has tarnished already. It is basically impossible that when Gillard called an election yesterday that she was not aware that on the very next day Craig Thompson was to be arrested, taken to a police station, fingerprinted, photographed and charged. Does anybody believe that the Police Union would not have been aware of the impending arrest and that they would not have told the PM's office well before hand being that Labor is the political arm of the ACTU?
News article says Channel Seven were waiting outside his office and home from 7am (i.e. before the arrest) :/
You mean the speech on misogyny she gave minutes after supporting her misogynist Speaker to retain his position as that was politically expedient?
You mean the speech Labor had been preparing for months since Labor MP Nikola Roxon knew every single detail and allegation against slipper as she was the one that paid out Ashby on behalf of the government?
See: www.infrastructure.gov.au There are some very readable summaries of what's important, why it's important and how much it will cost. And that's without taking into account local projects like a second airport in Sydney (which costs the national economy hundreds of millions a year). You should call up the board of the RBA and tell them. They're the one's who are saying we need to prepare for the end of the mining boom and start building stuff with all the cheap money that's around at the moment.
I'm not the one parroting a bunch of banking elitists that are soley working with their bankster mates at heart.
No, you're parroting the line coming out of both major political parties that the budget being in surplus is the most important measure of economic health.
