And yet they actually had the hard dollars to spend in the bank. Not borrowed from China or elsewhere.
Are you really surprised? The Age newspaper lost it two decades ago. As for the IMF what were these sock puppies thinking back in 2001 to 2007. They blew it. Remember Wayne swan was voted the best Treasurer in the world by the same numpties a few years earlier had designated Lehman brothers the best bank in 2005? With any luck Gina will take over the age sack the board and turn it into a racy tabloid tits and ass :lol: Kind Regards non recourse
You can spend when you have income. Labor spends when it is broke. Labor acts like a welfare recipient who gets an inheritance and then spends it in one year on fishing rods and holidays and pokies.
"That and there was only 1 Telstra to sell..." ....and one "Peoples Airline" - QANTAS, and one 'Peoples Bank" - CBA. The proceeds of which went down the drain, the pub and TAB perhaps? with nothing to show for it. At least TELSTRA ended up in the Future Fund, and is still there earning interest. Thank you komrade paul, those CBA shares at $5.40 were a STEAL! (and the DRP doubled the number) OC
profligate /prfligt/ Adjective Recklessly extravagant or wasteful in the use of resources. Noun A licentious, dissolute person. Synonyms adjective. dissolute - rakish - wasteful - licentious - prodigal noun. libertine - debauchee - spendthrift - rake - roue - rip
Just goes to show you how clueless the IMF/world bank/keynesian economics really are. I had a real belly laugh about the Whitlam. I was living in Adelaide when those clowns brought in unilateral free trade. Over night the city of Adelaide went from a booming full employment city to an industrial waste land. The European and american companies dumped their manufactured products at below cost and tens of thousands of small businesses disappeared. It went from a country of full employment (less than 2% who were unemployable) to massive unemployment. I got up in a lecture in Melbourne a number of years ago when a french diplomate was lecturing the Australian audience about free trade and I called him a french Souffle' full of hot air but no substance. The meeting convener took the mike out of my hand when I reminded the audience about the rivers of susidise milk butter and cheese that the E.U. had...The audience appladed me and the rest of his lecture disolved because people got up and walked out. Kind Regards non recourse
That would be "Fiscal Hobbit" if used in reference to Howard, "fiscal pygmy's" are a whole other different species.
As I have pointed out here and other places many times. While I have a lot of bones to pick with Howard, what Labor followers and Keynesianism forget is that the Coalitions time for nation building was just starting in 2007. They had finally got the books in order so that we were not spending millions in interest every year and could finally start attacking some of the much needed projects such as the future fund, roads etc. But of course the f^cktards in Australia thought we needed a change because sunrise Kebbin was a likeable figure. Nothing more nothing less.
Any government should be nation building from the start and not waiting ten years to get on with it. Howard wasted the future fund and a variety of other initiatives buying votes with middle class welfare (and btw spending 2 million a year of taxpayers money living in his Sydney mansion because he didn't want to live in The Lodge - what a fuss when Julia wanted to stay in her Melbourne 3 bedder.) He had a limited vision of the Australia he wanted but first and foremost he knew how to stay in power, the best politician (used in the pejorative sense) we've seen, next to the obscure state pollies, and he kept the US on side by dragging us into the invasion of Iraq. The economy was roaring after Keating's set-ups and Howard and Costello rode the wave. Everyone thinks they were smart for that reason and hark back to the good old days when house prices were doubling every 7 years and the buzz was in the air. But (insert abuse about Labor/Gillard/Socialists) Howard. Dead kids in Bali as retribution for Iraq, death of the Westminister system and ministerial responsibility, wedge politics, gun seizure, boat people overboard style politics etc etc. A nasty piece of work who betrayed his colleagues and killed his Party by keeping his dead hand on the tiller far too long. His lesser students try to emulate him and are giving us the shrinking morality and incredibly mundane and shortsighted politics we see in the 30 second grabs these days on the news. A pox on both their houses.
