Australian Politics Forum

Australian Politics Forum
http://www.ozpolitic.com/forum/YaBB.pl General Discussion >> Federal Politics >> Crikey......remember this? http://www.ozpolitic.com/forum/YaBB.pl?num=1429842878 Message started by Swagman on Apr 24^th, 2015 at 12:34pm

Title: Crikey......remember this?
Post by Swagman on Apr 24^th, 2015 at 12:34pm

http://www.budget.gov.au/2006-07/overview/html/overview_06.htm

Quote:

The Government has eliminated net debt for the first time in 30 years.

This means that the Government is no longer a net borrower, and we can start to save for some of the big challenges of the future.

Australia is now amongst a small and select group of OECD countries that have eliminated net debt. The average net debt to GDP ratio in the OECD is around 48 per cent; for Australia it is below zero.

What happened next? The Ochlocrats dumped the Govt? ::)

This is the future. Thanks Labor. :( (..............and your ochlocratic comrade TPP supporters)

:(

Title: Re: Crikey......remember this?
Post by The Grappler on Apr 24^th, 2015 at 1:17pm

Old Mother Howard,
Went to the cupboard
To get a good loan on the phone
But he'd flogged off the farm
To the nation's great harm
And so he had nothing no phone to loan.

Old Mother Krudd
Took over the flood
Of GFCs right left and spare
So he dug in the pot
And pulled out a lot
And still had some credit to spare.

Now Abbott got in,
Which most think a sin,
And figured he'd revenue raise
But without that farm
His plans fell to harm,
And his neo-con plan's just a phase.

Title: Re: Crikey......remember this?
Post by crocodile on Apr 24^th, 2015 at 2:20pm

Is there something really good about negative net debt.

Title: Re: Crikey......remember this?
Post by The Grappler on Apr 24^th, 2015 at 2:52pm

Most households run in negative net debt... think it through... the issue becomes when and IF you are using the credit card to pay off your credit card bills....

Very hard to get FACTUAL data from government and agencies - they love to play politics instead of speaking with straight tongue.... and agencies are increasingly subject to City Hall - as are we all - becoming a cowed down lot of people who wait with trees down blocking our roads for help instead of getting out the chainsaw and the ropes and chains... hooking it up to the sports car and dragging it out of the way...

Title: Re: Crikey......remember this?
Post by crocodile on Apr 24^th, 2015 at 2:56pm

Grappler Deep State Feller wrote on Apr 24^th, 2015 at 2:52pm:

Are you sure about that. I would have thought that most households would run a positive net debt.

Title: Re: Crikey......remember this?
Post by Swagman on Apr 24^th, 2015 at 3:36pm

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Title: Re: Crikey......remember this?
Post by Kat on Apr 24^th, 2015 at 3:57pm

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

Title: Re: Crikey......remember this?
Post by crocodile on Apr 24^th, 2015 at 4:13pm

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Was it really all that good. Since Aussie runs a consistent negative trade balance the only source of funding for the retirement of debt is by the sale of public assets or taking it from the private sector. The government had no net debt back then but only at the expense of an increasingly indebted private sector.

It really is quite an important point that goes unnoticed because our media darlings focus only on the government sector. Understand that it is the private sector that grows the economy not the government sector. Paying back debt that was actually quite manageable is not as rosy as it sounds.

Title: Re: Crikey......remember this?
Post by gandalf on Apr 24^th, 2015 at 4:57pm

Howard/Costello reduced debt by selling off valuable public assets and, most criminally of all, selling almost all our gold reserves at bargain basement prices. They then proceeded to slash income taxes - thereby creating the structural deficit hole we are in now. Fortunately for them though, we just happened to be riding the peak of the greatest mining boom the country has ever seen - and then pissed the proceeds of this once-in-a-lifetime bonanza on short sighted middle class welfare to win votes in western Sydney.

Yes indeed, labor are the economic vandals mmmkay ::)

Title: Re: Crikey......remember this?
Post by longweekend58 on Apr 24^th, 2015 at 5:21pm

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

Title: Re: Crikey......remember this?
Post by SupositoryofWisdom on Apr 24^th, 2015 at 5:21pm

polite_gandalf wrote on Apr 24^th, 2015 at 4:57pm:

I hope joe isnt reading this , there is a little bit of gold left in the vault .

Title: Re: Crikey......remember this?
Post by SupositoryofWisdom on Apr 24^th, 2015 at 5:22pm

longweekend58 wrote on Apr 24^th, 2015 at 5:21pm:

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

Probably number one now with the real economic vandals running things

Title: Re: Crikey......remember this?
Post by longweekend58 on Apr 24^th, 2015 at 5:23pm

polite_gandalf wrote on Apr 24^th, 2015 at 4:57pm:

get over yourself, retard. the gold issue was worth a few hundred million. Howard/Costello did almost everything right while Labor did almost everything wrong.

and how long are you jerks going to go on about those 'horrible' tax cuts, whil hypocritically supportin taxation indexation which would have resulted in the same thing?

you are a bit desperate and it shows.

Title: Re: Crikey......remember this?
Post by longweekend58 on Apr 24^th, 2015 at 5:24pm

Its time wrote on Apr 24^th, 2015 at 5:22pm:

longweekend58 wrote on Apr 24^th, 2015 at 5:21pm:

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

Probably number one now with the real economic vandals running things

so you ACCEPT that labor increased the debt by the third largest rate of ANY COUNTRY in the world???

tell me again how that is good management!

Title: Re: Crikey......remember this?
Post by Dame Pansi on Apr 24^th, 2015 at 5:34pm

longweekend58 wrote on Apr 24^th, 2015 at 5:23pm:

polite_gandalf wrote on Apr 24^th, 2015 at 4:57pm:

Get over yourself, retard, the gold would have been valued at many billions of dollars in today's market, if we had have hung onto it.

Title: Re: Crikey......remember this?
Post by longweekend58 on Apr 24^th, 2015 at 6:19pm

Ex Dame Pansi wrote on Apr 24^th, 2015 at 5:34pm:

longweekend58 wrote on Apr 24^th, 2015 at 5:23pm:

polite_gandalf wrote on Apr 24^th, 2015 at 4:57pm:

Get over yourself, retard, the gold would have been valued at many billions of dollars in today's market, if we had have hung onto it.

getting yourself in alather over a market item that rises AND FALLS shows you don't have any idea of what you are talking about.

Title: Re: Crikey......remember this?
Post by Karnal on Apr 24^th, 2015 at 7:01pm

longweekend58 wrote on Apr 24^th, 2015 at 5:23pm:

polite_gandalf wrote on Apr 24^th, 2015 at 4:57pm:

How many hundreds of millions was it, Longy? Have you crunched the numbers on this one?

Title: Re: Crikey......remember this?
Post by SupositoryofWisdom on Apr 24^th, 2015 at 7:18pm

longweekend58 wrote on Apr 24^th, 2015 at 5:24pm:

Its time wrote on Apr 24^th, 2015 at 5:22pm:

longweekend58 wrote on Apr 24^th, 2015 at 5:21pm:

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

Probably number one now with the real economic vandals running things

so you ACCEPT that labor increased the debt by the third largest rate of ANY COUNTRY in the world???

tell me again how that is good management!

Because out of the 26 in the oecd we still had positive growth and no recession . Labor handled the GFC to perfection , if libs got in 2010 it would've been a different story with their love for austerity .

Title: Re: Crikey......remember this?
Post by crocodile on Apr 24^th, 2015 at 8:19pm

longweekend58 wrote on Apr 24^th, 2015 at 5:24pm:

Its time wrote on Apr 24^th, 2015 at 5:22pm:

longweekend58 wrote on Apr 24^th, 2015 at 5:21pm:

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

Probably number one now with the real economic vandals running things

so you ACCEPT that labor increased the debt by the third largest rate of ANY COUNTRY in the world???

tell me again how that is good management!

Not a very insightful comparison.

It depends what the initial debt level was. If the debt level was 10 billion and it was increased to 200 billion it is an increase of 190 billion or 3800%

If the debt started at 100 billion and was increased to 390 billion it is still the same value increase but at a slower rate of 390%. Nearly ten times less for the same amount.

You can make statistics tell you anything you want.

Title: Re: Crikey......remember this?
Post by gandalf on Apr 24^th, 2015 at 8:23pm

longweekend58 wrote on Apr 24^th, 2015 at 5:23pm:

the gold issue was worth a few hundred million.

;D ;D Poor Longy - apparently he really doesn't understand the significance of that statement.

Also, ease up on the personal attacks please - you've been rather feral lately.

Title: Re: Crikey......remember this?
Post by The Grappler on Apr 25^th, 2015 at 12:35am

Its time wrote on Apr 24^th, 2015 at 7:18pm:

longweekend58 wrote on Apr 24^th, 2015 at 5:24pm:

Its time wrote on Apr 24^th, 2015 at 5:22pm:

longweekend58 wrote on Apr 24^th, 2015 at 5:21pm:

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

Probably number one now with the real economic vandals running things

so you ACCEPT that labor increased the debt by the third largest rate of ANY COUNTRY in the world???

tell me again how that is good management!

.... for everyone but themselves.

Fixed for ya..... :)

Title: Re: Crikey......remember this?
Post by Armchair_Politician on Apr 25^th, 2015 at 7:40am

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... ;D

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

Who's that? Wait - don't tell me. I bet you'd believe Hitler over Mother Theresa.

Title: Re: Crikey......remember this?
Post by Armchair_Politician on Apr 25^th, 2015 at 7:45am

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

You mean other than being able to spend it on Australians instead of using it to repay debt?

Title: Re: Crikey......remember this?
Post by crocodile on Apr 25^th, 2015 at 1:53pm

Armchair_Politician wrote on Apr 25^th, 2015 at 7:45am:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

You mean other than being able to spend it on Australians instead of using it to repay debt?

Ah yes Armie, but where does the money come from to repay this debt.

Title: Re: Crikey......remember this?
Post by Swagman on Apr 26^th, 2015 at 10:43am

crocodile wrote on Apr 25^th, 2015 at 1:53pm:

Armchair_Politician wrote on Apr 25^th, 2015 at 7:45am:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

You mean other than being able to spend it on Australians instead of using it to repay debt?

Ah yes Armie, but where does the money come from to repay this debt.

Productivity increases..............but no longer. Without productivity increases debt repayment is from service cuts, tax increases or asset sales.

Title: Re: Crikey......remember this?
Post by The Grappler on Apr 26^th, 2015 at 12:28pm

Swagman wrote on Apr 26^th, 2015 at 10:43am:

crocodile wrote on Apr 25^th, 2015 at 1:53pm:

Armchair_Politician wrote on Apr 25^th, 2015 at 7:45am:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

You mean other than being able to spend it on Australians instead of using it to repay debt?

Ah yes Armie, but where does the money come from to repay this debt.

Productivity increases..............but no longer. Without productivity increases debt repayment is from service cuts, tax increases or asset sales.

We need more people working and not running around to satisfy Centrelink..... time for some major overhaul of infrastructure (apart from Tony's Watershed government) and a new way forward.

Can't sell the farm off forever...

Title: Re: Crikey......remember this?
Post by eagle eyes on Apr 26^th, 2015 at 5:52pm

Grappler Deep State Feller wrote on Apr 26^th, 2015 at 12:28pm:

Swagman wrote on Apr 26^th, 2015 at 10:43am:

crocodile wrote on Apr 25^th, 2015 at 1:53pm:

Armchair_Politician wrote on Apr 25^th, 2015 at 7:45am:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

You mean other than being able to spend it on Australians instead of using it to repay debt?

Ah yes Armie, but where does the money come from to repay this debt.

Productivity increases..............but no longer. Without productivity increases debt repayment is from service cuts, tax increases or asset sales.

If you want more people working you need to get rid of the many restrictions for small businesses and lower their tax. There is not enough incentive for people to start up a business. All those restrictions, licencing and registration requirements were put in place by big business in order to crush small business. Now the big business have monopolies, but they can't offer enough work. Now the society is in the shite.

Title: Re: Crikey......remember this?
Post by The Grappler on Apr 26^th, 2015 at 7:37pm

gone wrote on Apr 26^th, 2015 at 5:52pm:

Grappler Deep State Feller wrote on Apr 26^th, 2015 at 12:28pm:

Swagman wrote on Apr 26^th, 2015 at 10:43am:

crocodile wrote on Apr 25^th, 2015 at 1:53pm:

Armchair_Politician wrote on Apr 25^th, 2015 at 7:45am:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

You mean other than being able to spend it on Australians instead of using it to repay debt?

Ah yes Armie, but where does the money come from to repay this debt.

Productivity increases..............but no longer. Without productivity increases debt repayment is from service cuts, tax increases or asset sales.

I agree with small business being the engine room that actually pays its way tax-wise - recent looks at big corporations shows where they stand when it comes to tax.

All they do is try their hardest to evade taxes and evade employing people, then run off to the Channel Islands for a tax haven.

Your point is a valid one....

Title: Re: Crikey......remember this?
Post by John Smith on Apr 26^th, 2015 at 7:47pm

gone wrote on Apr 26^th, 2015 at 5:52pm:

f you want more people working you need to get rid of the many restrictions for small businesses and lower their tax. There is not enough incentive for people to start up a business. All those restrictions, licencing and registration requirements were put in place by big business in order to crush small business. Now the big business have monopolies, but they can't offer enough work. Now the society is in the shite.

Title: Re: Crikey......remember this?
Post by Swagman on Apr 27^th, 2015 at 10:32am

Quote:

There is not enough incentive for people to start up a business. All those restrictions, licencing and registration requirements were put in place by big business in order to crush small business

So Smithy you'd agree that small business should be exempt from having to pay penalty rates for example?

Title: Re: Crikey......remember this?
Post by John Smith on Apr 27^th, 2015 at 10:33am

Swagman wrote on Apr 27^th, 2015 at 10:32am:

Quote:

There is not enough incentive for people to start up a business. All those restrictions, licencing and registration requirements were put in place by big business in order to crush small business

So Smithy you'd agree that small business should be exempt from having to pay penalty rates for example?

no, I'd agree small business should spend their time running their business, and not playing tax collector for the govt.

Title: Re: Crikey......remember this?
Post by aquascoot on Apr 27^th, 2015 at 5:27pm

any fool can SPEND money. i can send a trained chimp into woolies with a $100 bill and he'll have no trouble SPENDING it.

but try and get that chimp to go EARN $100.

and, anyway you look at it, Labor are big spenders. Then they expect a round of applause for knowing how to spend $$$. They'll get no applause from me because the act requires no skill whatsoever

Title: Re: Crikey......remember this?
Post by The Grappler on Apr 27^th, 2015 at 6:31pm

John Smith wrote on Apr 27^th, 2015 at 10:33am:

Swagman wrote on Apr 27^th, 2015 at 10:32am:

Quote:

There is not enough incentive for people to start up a business. All those restrictions, licencing and registration requirements were put in place by big business in order to crush small business

So Smithy you'd agree that small business should be exempt from having to pay penalty rates for example?

no, I'd agree small business should spend their time running their business, and not playing tax collector for the govt.

But.... but.... but I thought Tones was going to cut red and green tape for business...... oh...... sorry... that was only to relax 457s so Gina could get 1700 up there to pack into containers, start a generator, throw in a bag of rice, and pay them through a 'contract employer' (body hire) who will rip them off.

https://www.youtube.com/watch?v=4w36z7XnwOM

Title: Re: Crikey......remember this?
Post by Happy Lucky on Apr 27^th, 2015 at 6:40pm

I don't mind labor spending like drunken sailors on shore leave if they left something to show for it.

Title: Re: Crikey......remember this?
Post by The Grappler on Apr 27^th, 2015 at 7:38pm

**hey presto... page kick**

Title: Re: Crikey......remember this?
Post by Swagman on Apr 28^th, 2015 at 1:05pm

Happy Lucky wrote on Apr 27^th, 2015 at 6:40pm:

I don't mind labor spending like drunken sailors on shore leave if they left something to show for it.

But they did......... ;D

Title: Re: Crikey......remember this?
Post by eagle eyes on Apr 28^th, 2015 at 9:00pm

Some(most) people don't understand the money creation system and fractional reserve banking.

Only a fraction of the entire world's debt could be paid back with all the money in the world.

State debt was never meant to be paid back. It was meant to generate interest. Effectively it is a form of taxation. A redistribution from Diligent to Rich.

But it's too complex... As Henry Ford once said: "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

Title: Re: Crikey......remember this?
Post by greggerypeccary on Apr 28^th, 2015 at 9:04pm

Swagman wrote on Apr 28^th, 2015 at 1:05pm:

Happy Lucky wrote on Apr 27^th, 2015 at 6:40pm:

I don't mind labor spending like drunken sailors on shore leave if they left something to show for it.

But they did......... ;D

https://www.youtube.com/watch?v=TPxiXGr9nFM