Australian Politics Forum - We owe $4.8 trillion

freediver Gold Member Offline www.ozpolitic.com Posts: 49016 At my desk.	Re: We owe $4.8 trillion Reply #60 - Jan 3^rd, 2013 at 8:37am Bobby and TNL, 4 pages in and you still haven't come up with the basic information needed to make any kind of case. I posted this example on the first page you you, but it was obviously too subtle. This is what you need to make a case that the debt is unsustainable:
Back to top	People who can't distinguish between etymology and entomology bug me in ways I cannot put into words. IP Logged

Bobby. Gold Member Online Australian Politics Posts: 104725 Melbourne Gender:	Re: We owe $4.8 trillion Reply #61 - Jan 3^rd, 2013 at 8:39am OK FD, Lets hear it from you then. Just write: Quote: our huge debt obligation is a great circumstance to be in
Back to top	IP Logged

freediver Gold Member Offline www.ozpolitic.com Posts: 49016 At my desk.	Re: We owe $4.8 trillion Reply #62 - Jan 3^rd, 2013 at 8:50am Our federal government debt is easily serviceable and we are in an enviable situation.
Back to top	People who can't distinguish between etymology and entomology bug me in ways I cannot put into words. IP Logged

Bobby.

Gold Member

Online

Australian Politics

Posts: 104725
Melbourne
Gender: male

Re: We owe $4.8 trillion
Reply #63 - Jan 3^rd, 2013 at 9:01am

freediver wrote on Jan 3^rd, 2013 at 8:50am:

Our federal government debt is easily serviceable and we are in an enviable situation.

I don't think so because our manufacturing industry has been decimated.

as one example:
Our iron ore is mostly sent overseas to be turned into steel whereas
we used to make a lot of it here.

We need to add value to our raw materials so that jobs can be created here
& more overseas income can be made.
That would help to pay the debt off rather than adding to it.

Back to top

IP Logged

freediver

Gold Member

Offline

www.ozpolitic.com

Posts: 49016
At my desk.

Re: We owe $4.8 trillion
Reply #64 - Jan 3^rd, 2013 at 9:07am

No bobby it would not help pay off the debt, it would make it worse. If there were money to be made doing that, we would be doing it. The people in the industry obviously think there is more money to be made elsewhere.

BTW, I note that your argument about our ability to pay off the debt did not touch on our actual ability to pay off the debt in any direct way. Why don't you spend a minute or two checking out whether the debt is actually serviceable before fretting about what is the best way to service it?

Back to top

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

IP Logged

Bobby.

Gold Member

Online

Australian Politics

Posts: 104725
Melbourne
Gender: male

Re: We owe $4.8 trillion
Reply #65 - Jan 3^rd, 2013 at 9:12am

freediver wrote on Jan 3^rd, 2013 at 9:07am:

No bobby it would not help pay off the debt, it would make it worse. If there were money to be made doing that, we would be doing it. The people in the industry obviously think there is more money to be made elsewhere.

BTW, I note that your argument about our ability to pay off the debt did not touch on our actual ability to pay off the debt in any direct way. Why don't you spend a minute or two checking out whether the debt is actually serviceable before fretting about what is the best way to service it?

Hi FD,
Yes - the debt is servicable - are you happy now?

Now - will you write:

our huge debt obligation is a great circumstance to be in

Back to top

IP Logged

freediver Gold Member Offline www.ozpolitic.com Posts: 49016 At my desk.	Re: We owe $4.8 trillion Reply #66 - Jan 3^rd, 2013 at 9:30am our relatively small debt obligation is a great circumstance to be in
Back to top	People who can't distinguish between etymology and entomology bug me in ways I cannot put into words. IP Logged

Bobby. Gold Member Online Australian Politics Posts: 104725 Melbourne Gender:	Re: We owe $4.8 trillion Reply #67 - Jan 3^rd, 2013 at 9:43am freediver wrote on Jan 3^rd, 2013 at 9:30am: our relatively small debt obligation is a great circumstance to be in Ok - so why did such a wealthy country like ours get into so much debt?
Back to top	IP Logged

freediver

Gold Member

Offline

www.ozpolitic.com

Posts: 49016
At my desk.

Re: We owe $4.8 trillion
Reply #68 - Jan 3^rd, 2013 at 9:57am

You see bobby, this is why I keep asking you to attempt to put the debt in perspective. It may seem big compared to your household budget, but it is for an entire nation. The numbers have actually been given already in this thread. It is not that hard to get your head around them.

The reasons are pretty much the same as why an individual or business would take on debt.

Back to top

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

IP Logged

Bobby.

Gold Member

Online

Australian Politics

Posts: 104725
Melbourne
Gender: male

Re: We owe $4.8 trillion
Reply #69 - Jan 3^rd, 2013 at 9:59am

freediver wrote on Jan 3^rd, 2013 at 9:57am:

You see bobby, this is why I keep asking you to attempt to put the debt in perspective. It may seem big compared to your household budget, but it is for an entire nation. The numbers have actually been given already in this thread. It is not that hard to get your head around them.

The reasons are pretty much the same as why an individual or business would take on debt.

What if I said that one reason for our debt has been to inflate a housing bubble? -

which could easily burst - just like in the USA.

Back to top

IP Logged

freediver Gold Member Offline www.ozpolitic.com Posts: 49016 At my desk.	Re: We owe $4.8 trillion Reply #70 - Jan 3^rd, 2013 at 10:08am I am not entirely happy with what the government spends money on either, but it is a bit silly to associate one item of spending with debt.
Back to top	People who can't distinguish between etymology and entomology bug me in ways I cannot put into words. IP Logged

Sir lastnail Gold Member Offline Australian Politics Posts: 30088 Gender:	Re: We owe $4.8 trillion Reply #71 - Jan 3^rd, 2013 at 10:35am freediver wrote on Jan 3^rd, 2013 at 9:30am: our relatively small debt obligation is a great circumstance to be in Not according to Steve Keen !! In 2008 his predictions of the economy have come to bear... In 2008 his advice was to get out of debt !! http://www.abc.net.au/7.30/content/2008/s2385821.htm
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

Karnal Gold Member Offline Australian Politics Posts: 95756 Gender:	Re: We owe $4.8 trillion Reply #72 - Jan 3^rd, 2013 at 12:36pm Bobby. wrote on Jan 3^rd, 2013 at 9:43am: freediver wrote on Jan 3^rd, 2013 at 9:30am: our relatively small debt obligation is a great circumstance to be in Ok - so why did such a wealthy country like ours get into so much debt? How many wealthy people have mortgages?
Back to top	IP Logged

Bobby.

Gold Member

Online

Australian Politics

Posts: 104725
Melbourne
Gender: male

Re: We owe $4.8 trillion
Reply #73 - Jan 3^rd, 2013 at 3:16pm

Karnal wrote on Jan 3^rd, 2013 at 12:36pm:

Bobby. wrote on Jan 3^rd, 2013 at 9:43am:

freediver wrote on Jan 3^rd, 2013 at 9:30am:

our relatively small debt obligation is a great circumstance to be in

Ok - so why did such a wealthy country like ours get into so much debt?

How many wealthy people have mortgages?

That's silly Karnal,
How many wealthy people go into more debt every year & borrow
money to just pay the interest on their loans?

Back to top

IP Logged

Karnal Gold Member Offline Australian Politics Posts: 95756 Gender:	Re: We owe $4.8 trillion Reply #74 - Jan 3^rd, 2013 at 3:18pm Heaps of people live off their credit cards - what's your point? Most people have debts of some kind.
Back to top	IP Logged