Australian Politics Forum - We owe $4.8 trillion

Bobby.

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Re: We owe $4.8 trillion
Reply #30 - Jan 2^nd, 2013 at 4:39pm

perceptions_now wrote on Jan 2^nd, 2013 at 1:43pm:

Bobby. wrote on Jan 2^nd, 2013 at 1:16pm:

Our debt is climbing quickly too as Wayne Swann spends like a drunken sailor.

Ah, I have it, my diagnosis is -
You have been subjected to too many Maqq-attacks & she has desensitised your logic defenses, with her incessant LIBERAL SPIN.

My recommended treatment is simply to disengage from all Maqqa contact for 2 days or take 2 mogadons and get some rest.

Oh & watch out for some of those nasty side-effects.
Not from the Mogadons, BUT from Maqqa?

Dear Perceptions,
Think of yourself - not me - not Maqqa -
just click on this

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

& you'll probably need prozac to recover from the shock.

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Sir lastnail

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Re: We owe $4.8 trillion
Reply #31 - Jan 2^nd, 2013 at 7:12pm

freediver wrote on Jan 2^nd, 2013 at 1:34pm:

Sir lastnail wrote on Jan 2^nd, 2013 at 1:26pm:

freediver wrote on Jan 2^nd, 2013 at 1:03pm:

Quote:

if you can't service the interest on the debt without paying the principle then you are in trouble. We are approaching this precipice now

What makes you think that? A gut feeling?

surplus turning into a deficit Sad

Can you explain your reasoning?

it means they have to borrow more because they are not getting enough tax !!

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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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freediver

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Re: We owe $4.8 trillion
Reply #32 - Jan 2^nd, 2013 at 7:41pm

Sir lastnail wrote on Jan 2^nd, 2013 at 7:12pm:

freediver wrote on Jan 2^nd, 2013 at 1:34pm:

Sir lastnail wrote on Jan 2^nd, 2013 at 1:26pm:

freediver wrote on Jan 2^nd, 2013 at 1:03pm:

Quote:

if you can't service the interest on the debt without paying the principle then you are in trouble. We are approaching this precipice now

What makes you think that? A gut feeling?

surplus turning into a deficit Sad

Can you explain your reasoning?

it means they have to borrow more because they are not getting enough tax !!

Duh. Can you explain why you think the debt is unserviceable? Would it only be serviceable if it decreased?

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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Bobby.

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Re: We owe $4.8 trillion
Reply #33 - Jan 2^nd, 2013 at 8:26pm

I think I can explain it - more from a worrying point of view:

we seem to be going into more debt every year than the cost of the interest we pay.

In other words - we are borrowing money to pay the interest.

The question is - how long can this go on for?
Also - wouldn't that interest be better spent on schools, hospitals & social security
rather than giving to international bankers?

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perceptions_now

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Re: We owe $4.8 trillion
Reply #34 - Jan 2^nd, 2013 at 9:01pm

Bobby. wrote on Jan 2^nd, 2013 at 8:26pm:

I think I can explain it - more from a worrying point of view:

we seem to be going into more debt every year than the cost of the interest we pay.

In other words - we are borrowing money to pay the interest.

The question is - how long can this go on for?
Also - wouldn't that interest be better spent on schools, hospitals & social security
rather than giving to international bankers?

I would suggest that, we are paying interest on what we borrow, which is commonly called Debt.

However, we we have one of the lowest Debt to GDP ratio's, as confirmed by the fact that our Debt to GDP ratio is under 20%, whilst many of the BIG Economies are already at 80% plus, which is generally considered as a cut point, beyond which there is great difficulty in recovering.

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freediver Gold Member Offline www.ozpolitic.com Posts: 49102 At my desk.	Re: We owe $4.8 trillion Reply #35 - Jan 2^nd, 2013 at 9:02pm If you borrowed 10c then borrowed 1c every year to repay the interest, would that be unserviceable? Would it be a bad idea if you were making 2c per year out of it?
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Sir lastnail

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Re: We owe $4.8 trillion
Reply #36 - Jan 2^nd, 2013 at 9:04pm

freediver wrote on Jan 2^nd, 2013 at 7:41pm:

Sir lastnail wrote on Jan 2^nd, 2013 at 7:12pm:

freediver wrote on Jan 2^nd, 2013 at 1:34pm:

Sir lastnail wrote on Jan 2^nd, 2013 at 1:26pm:

freediver wrote on Jan 2^nd, 2013 at 1:03pm:

Quote:

if you can't service the interest on the debt without paying the principle then you are in trouble. We are approaching this precipice now

What makes you think that? A gut feeling?

surplus turning into a deficit Sad

Can you explain your reasoning?

it means they have to borrow more because they are not getting enough tax !!

Duh. Can you explain why you think the debt is unserviceable? Would it only be serviceable if it decreased?

because we put all of our eggs in the mining boom basket so when resource prices start to tank as they are now we no longer have anything to fall back on because we allowed manufacturing to die in the arse.

think of it like someone who has a mortgage and just lost their job and can't find another one because their skills are no longer in demand or can be sourced elsewhere a lot cheaper !! Guess what will happen ? They can't service the loan anymore Sad

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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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perceptions_now

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Re: We owe $4.8 trillion
Reply #37 - Jan 2^nd, 2013 at 9:05pm

Bobby. wrote on Jan 2^nd, 2013 at 4:39pm:

perceptions_now wrote on Jan 2^nd, 2013 at 1:43pm:

Bobby. wrote on Jan 2^nd, 2013 at 1:16pm:

Our debt is climbing quickly too as Wayne Swann spends like a drunken sailor.

Ah, I have it, my diagnosis is -
You have been subjected to too many Maqq-attacks & she has desensitised your logic defenses, with her incessant LIBERAL SPIN.

My recommended treatment is simply to disengage from all Maqqa contact for 2 days or take 2 mogadons and get some rest.

Oh & watch out for some of those nasty side-effects.
Not from the Mogadons, BUT from Maqqa?

Dear Perceptions,
Think of yourself - not me - not Maqqa -
just click on this

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

& you'll probably need prozac to recover from the shock.

Yes, I've already seen that, it was in your 1st post.

But No, I don't need prozac, it's not that bad, as I already explained -
http://www.ozpolitic.com/forum/YaBB.pl?num=1357046552/21#21

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Sir lastnail

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Re: We owe $4.8 trillion
Reply #38 - Jan 2^nd, 2013 at 9:07pm

freediver wrote on Jan 2^nd, 2013 at 9:02pm:

If you borrowed 10c then borrowed 1c every year to repay the interest, would that be unserviceable? Would it be a bad idea if you were making 2c per year out of it?

yes but we can't make the 2 cents anymore because resources prices have fallen a lot and there is no back up plan !!

If what you were saying is true then nobody would ever have their homes repossessed by the banks !!

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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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freediver

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At my desk.

Re: We owe $4.8 trillion
Reply #39 - Jan 2^nd, 2013 at 9:08pm

Quote:

because we put all of our eggs in the mining boom basket

What makes you think that?

Quote:

so when resource prices start to tank as they are now we no longer have anything to fall back on

Sure we do. What makes you think we don't?

Quote:

because we allowed manufacturing to die in the arse.

There is still plenty of manufacturing in Australia. Probably about the same as before the mining boom. It will pick up even more if interest rates drop and labour becomes cheaper.

Quote:

think of it like someone who has a mortgage and just lost their job and can't find another one because their skills are no longer in demand or can be sourced elsewhere a lot cheaper !! Guess what will happen ? They can't service the loan anymore

Perhaps you would like to debate the actual facts, rather than analogies? I understand what an unserviceable debt is.

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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freediver

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At my desk.

Re: We owe $4.8 trillion
Reply #40 - Jan 2^nd, 2013 at 9:09pm

Sir lastnail wrote on Jan 2^nd, 2013 at 9:07pm:

freediver wrote on Jan 2^nd, 2013 at 9:02pm:

If you borrowed 10c then borrowed 1c every year to repay the interest, would that be unserviceable? Would it be a bad idea if you were making 2c per year out of it?

yes but we can't make the 2 cents anymore because resources prices have fallen a lot and there is no back up plan !!

Our economy is based on capitalism, there is no plan at all. We have no need for one.

Quote:

If what you were saying is true then nobody would ever have their homes repossessed by the banks !!

You will have to explain this bit to me.

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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Sir lastnail

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Re: We owe $4.8 trillion
Reply #41 - Jan 2^nd, 2013 at 9:10pm

perceptions_now wrote on Jan 2^nd, 2013 at 9:05pm:

Bobby. wrote on Jan 2^nd, 2013 at 4:39pm:

perceptions_now wrote on Jan 2^nd, 2013 at 1:43pm:

Bobby. wrote on Jan 2^nd, 2013 at 1:16pm:

Our debt is climbing quickly too as Wayne Swann spends like a drunken sailor.

Ah, I have it, my diagnosis is -
You have been subjected to too many Maqq-attacks & she has desensitised your logic defenses, with her incessant LIBERAL SPIN.

My recommended treatment is simply to disengage from all Maqqa contact for 2 days or take 2 mogadons and get some rest.

Oh & watch out for some of those nasty side-effects.
Not from the Mogadons, BUT from Maqqa?

Dear Perceptions,
Think of yourself - not me - not Maqqa -
just click on this

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

& you'll probably need prozac to recover from the shock.

Yes, I've already seen that, it was in your 1st post.

But No, I don't need prozac, it's not that bad, as I already explained -
http://www.ozpolitic.com/forum/YaBB.pl?num=1357046552/21#21

OK if it's not bad lets keep borrowing more and keep the party going Cheesy

Those poor hard working chinese earning 2 bucks a day in a factory and putting their savings in the bank so they can lend to us aussies to have a party. Yep that sounds very sustainable. Grin

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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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Sir lastnail

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Re: We owe $4.8 trillion
Reply #42 - Jan 2^nd, 2013 at 9:11pm

freediver wrote on Jan 2^nd, 2013 at 9:09pm:

Sir lastnail wrote on Jan 2^nd, 2013 at 9:07pm:

freediver wrote on Jan 2^nd, 2013 at 9:02pm:

If you borrowed 10c then borrowed 1c every year to repay the interest, would that be unserviceable? Would it be a bad idea if you were making 2c per year out of it?

yes but we can't make the 2 cents anymore because resources prices have fallen a lot and there is no back up plan !!

Our economy is based on capitalism, there is no plan at all. We have no need for one.

Quote:

If what you were saying is true then nobody would ever have their homes repossessed by the banks !!

You will have to explain this bit to me.

you sound like when you borrow money there is a free lunch. Where is it ?

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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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Sir lastnail

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Re: We owe $4.8 trillion
Reply #43 - Jan 2^nd, 2013 at 9:14pm

freediver wrote on Jan 2^nd, 2013 at 9:08pm:

Quote:

because we put all of our eggs in the mining boom basket

There is still plenty of manufacturing in Australia. Probably about the same as before the mining boom. It will pick up even more if interest rates drop and labour becomes cheaper.

are you kidding me !! what manufacturing ?

Just look around you. Have a look at what is actually made here these days Sad

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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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freediver Gold Member Offline www.ozpolitic.com Posts: 49102 At my desk.	Re: We owe $4.8 trillion Reply #44 - Jan 2^nd, 2013 at 9:14pm You could always try addressing what I actually said rather than what you think it sounds like.
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