Australian Politics Forum - We owe $4.8 trillion

Bobby. Gold Member Online Australian Politics Posts: 104695 Melbourne Gender:	We owe $4.8 trillion Jan 1^st, 2013 at 11:22pm Have a look at this debt clock: http://www.australiandebtclock.com.au/ Federal Govt. debt = $231 billion. How did we get into such a mess? How can Wayne Swann keep a straight face when he tells us how good our economy is?
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Sir lastnail

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Re: We owe $4.8 trillion
Reply #1 - Jan 1^st, 2013 at 11:25pm

Bobby. wrote on Jan 1^st, 2013 at 11:22pm:

Have a look at this debt clock:

http://www.australiandebtclock.com.au/

Federal Govt. debt = $231 billion.

How did we get into such a mess?

How can Wayne Swann keep a straight face when he tells us how good our economy is?

look at the housing debt - nearly 1.3 trillion !!

longloser will be happy !!

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Bobby. Gold Member Online Australian Politics Posts: 104695 Melbourne Gender:	Re: We owe $4.8 trillion Reply #2 - Jan 1^st, 2013 at 11:31pm Yes Nail, Look at the US debt clock: http://www.usdebtclock.org/
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metal_j Full Member Offline Australian Politics Posts: 141	Re: We owe $4.8 trillion Reply #3 - Jan 1^st, 2013 at 11:50pm I don't totally understand how our monastery system works...who do we owe all this money to?.
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Bobby. Gold Member Online Australian Politics Posts: 104695 Melbourne Gender:	Re: We owe $4.8 trillion Reply #4 - Jan 1^st, 2013 at 11:53pm metal_j wrote on Jan 1^st, 2013 at 11:50pm: I don't totally understand how our monastery system works...who do we owe all this money to?. It's the Jewssssssssssssss. Would we be better off with liquidators as in for a failed company? Maybe declare bankruptcy?
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Sir lastnail Gold Member Offline Australian Politics Posts: 30088 Gender:	Re: We owe $4.8 trillion Reply #5 - Jan 1^st, 2013 at 11:59pm metal_j wrote on Jan 1^st, 2013 at 11:50pm: I don't totally understand how our monastery system works...who do we owe all this money to?.
Back to top	In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”. IP Logged

Ex Dame Pansi Gold Member Offline Australian Politics Posts: 24168	Re: We owe $4.8 trillion Reply #6 - Jan 2^nd, 2013 at 5:47am How did this happen? We owe $4.8 trillion In 2010 National debt to reach $1 trillion http://www.news.com.au/business/federal-budget/national-debt-to-reach-1-trillion...
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Bobby. Gold Member Online Australian Politics Posts: 104695 Melbourne Gender:	Re: We owe $4.8 trillion Reply #7 - Jan 2^nd, 2013 at 7:58am Yes Pansi, the debt has climbed very fast - too fast. Could we declare bankruptcy? What would happen if we did?
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gold_medal

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Re: We owe $4.8 trillion
Reply #8 - Jan 2^nd, 2013 at 8:23am

Sir lastnail wrote on Jan 1^st, 2013 at 11:25pm:

Bobby. wrote on Jan 1^st, 2013 at 11:22pm:

Have a look at this debt clock:

http://www.australiandebtclock.com.au/

Federal Govt. debt = $231 billion.

How did we get into such a mess?

How can Wayne Swann keep a straight face when he tells us how good our economy is?

look at the housing debt - nearly 1.3 trillion !!

longloser will be happy !!

secured against assets of $4T you moron. or are you planning on paying for your house in cash?

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freediver Gold Member Offline www.ozpolitic.com Posts: 49016 At my desk.	Re: We owe $4.8 trillion Reply #9 - Jan 2^nd, 2013 at 8:41am I think this includes private lending, right? eg people's house mortgages. Half million dollar houses stack up pretty quickly.
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Bobby. Gold Member Online Australian Politics Posts: 104695 Melbourne Gender:	Re: We owe $4.8 trillion Reply #10 - Jan 2^nd, 2013 at 9:01am freediver wrote on Jan 2^nd, 2013 at 8:41am: I think this includes private lending, right? eg people's house mortgages. Half million dollar houses stack up pretty quickly. Hi FD, so you're quite happy about this huge debt?
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freediver Gold Member Offline www.ozpolitic.com Posts: 49016 At my desk.	Re: We owe $4.8 trillion Reply #11 - Jan 2^nd, 2013 at 9:06am Quote: so you're quite happy about this huge debt? I know it means nothing when people start throwing around these enourmous numbers without context. Whether a debt is 'bad' depends on your ability to pay it off. Here is an example from the US:
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Bobby.

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Re: We owe $4.8 trillion
Reply #12 - Jan 2^nd, 2013 at 9:11am

Hi FD,
I still think it's irresponsible to have so much debt.
It shows that we are living beyond our means.

Where will all of this end - financial collapse?

Labor thought the high commodity prices would never end -
all their budgets were based on that false premise.
They are just buying more beer on the credit card to keep the party going.

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freediver Gold Member Offline www.ozpolitic.com Posts: 49016 At my desk.	Re: We owe $4.8 trillion Reply #13 - Jan 2^nd, 2013 at 9:20am Quote: It shows that we are living beyond our means. No it doesn't bobby. You have no clue at all what it means. All you know is that it is a really big number. That alone means nothing. The number could be doubled or halved and you would say the same thing.
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Bobby. Gold Member Online Australian Politics Posts: 104695 Melbourne Gender:	Re: We owe $4.8 trillion Reply #14 - Jan 2^nd, 2013 at 9:21am I probably would say the same thing. We should be saving money for hard times like responsible adults not getting into more & more debt.
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