Maqqa wrote on Feb 23^rd, 2013 at 9:30pm:



Yes I would agree because Howard was hopeless maybe the worst ever and Swan is still an undecieded in my view all indications are that he is fairly good at least and possably better than that but no doubt that Costello was very very good. For me almost a bracket selection with Keating for the best.

However when that standard is not available someone like Swan is probably next best thing, the Liberals would struggle to match him.

Maqqa wrote on Feb 24^th, 2013 at 3:41pm:


Unlike your attempts at SPIN, to direct opinion in one direction (the Liberals), I am only interested in Facts & likely directions, arising from facts!

Based on those facts & likely directions, I have already said previously, on many occasions, that the Liberals will win the next election.

So, I have agreed that voters have switched off Labor!

As for the rest of your post, I'll take it as an admission that you did not respond already to the information I raised, as you previously claimed!

Btw, you MAY be interested in the table on the following website, which lists the Deficits/Surpluses for a number of countries. Most countries show Deficits, BUT Norway is a glaring example, where Surpluses are ingained into Politics.
http://www.oecd-ilibrary.org/economics/government-deficit_gov-dfct-table-en

The chart at the following site also shows ups & downs, BUT in Norway they have always showed a Surplus since 2000, no matter whether the Right or Left of Politics is in government! 
http://www.tradingeconomics.com/norway/government-budget
FYI the Left have been in power since 2005 and their lowest surplus was 9.7%, with their hightest being 19.7%.
Prior to that the Right had something similar, with their lowest surplus being 7.3% and their highest being 15.7%.

Finally, the following website gives a run down on Norway.
http://en.wikipedia.org/wiki/Norway

The Economy & Resources areas make for some "interesting viewing -

Norwegians enjoy the second highest GDP per-capita and fourth highest GDP (PPP) per-capita in the world. Today, Norway ranks as the second wealthiest country in the world in monetary value, with the largest capital reserve per capita of any nation.

The Norwegian economy is an example of a mixed economy, a prosperous capitalist welfare state featuring a combination of free market activity and large state ownership in certain key sectors. The Norwegian welfare state makes public health care free (above a certain level), and parents have 46 weeks paid parental leave.

As of March 2011, the Government Pension Fund of Norway controlled assets valued at is approximately US$570 billion which is about 140% of Norway's current GDP.

Norway has a very low unemployment rate, currently 2.6%. 30% of the labour force are employed by the government, the highest in the OECD. The hourly productivity levels, as well as average hourly wages in Norway are among the highest in the world.

The state has large ownership positions in key industrial sectors, such as the strategic petroleum sector (Statoil and Aker Solutions), hydroelectric energy production (Statkraft), aluminium production (Norsk Hydro), the largest Norwegian bank (DnB NOR), and telecommunication provider (Telenor).

Now, whilst there are certainly differences between Norway & Australia, Norway does demostrate that Left wing Politicians can do a good job, just as can the Right wing Politicians. And, in Norway, they have both shown they can work together, for the betterment of the entire Public, WHICH IS NOT SOMETHING THAT ANY OF OUR OZ POLITICIANS CAN REASONABLY CLAIM! 
Btw, if the OZ Future Fund was doing as well as the Norway Fund, THEN WE WOULD HAVE AROUND $2 TRILLION, NOT $60 BILLION.

Of course, at the other end of the spectrum the USA has around $200 Trillion in "unfunded Liabities" related to their Aging Population.

It will be interesting to see how Norway fares, with the Baby Boomer Retirement constriction now moving in and they already have only a 2.6% Unemployment rate, it will shortly start to get very restrictive in the "skilled Labour" area AND some tough decisions LOOM!

Maqqa wrote on Feb 24^th, 2013 at 3:41pm:


They are sick of Swan and Gillard telling lies after lies after lies

I can only recall one real accusation of a lie and even that is even very debatable and had little to no impact.

I think you may be telling lies about lies and doing it often enough that you think people may believe you. That does seem to be the Lib / Media / Macca strategy.

Dnarever wrote on Feb 24^th, 2013 at 8:37pm:



Personal opinion on its impact

Lets look at the Sept 11 Crash

• The opening of the New York Stock Exchange (NYSE) was delayed after the first plane crashed into the World Trade Center's north tower, and trading for the day was canceled after the second plane crashed into the South Tower. NASDAQ also canceled trading. The New York Stock exchange was then evacuated as well as nearly all banks and financial institutions on Wall Street and in many cities across the country.
•   The London Stock Exchange and other stock exchanges around the world were also closed down and evacuated in fear of follow up terrorist attacks. The New York Stock exchange remained closed until the following Monday. This was the third time in history that the NYSE experienced prolonged closure, the first time being in March 1933, though the NYSE also shut down for a few months at the beginning of World War II
• Trading on the United States bond market also ceased, with the leading government bond trader, Cantor Fitzgerald based in the World Trade Center.[2] The New York Mercantile Exchange was also closed for a week after the attacks.
• The Federal Reserve added $100 billion in liquidity per day, during the three days following the attack
• Gold prices spiked upwards, from $215.50 to $287 an ounce in London trading. Oil prices also spiked upwards
• The next day, European stock markets fell sharply, including declines of 4.6% in Spain, 8.5% in Germany, and 5.7% on the London Stock Exchange. Stocks in the Latin American markets also plunged, with a 9.2% drop in Brazil, 5.2% drop in Argentina, and 5.6% decline in Mexico, before trading was halted.
• Tourism
• Insurance, Aviation, Security
• $5 trillion war

Maqqa wrote on Feb 24^th, 2013 at 10:41pm:

Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and 2008 financial crisis, is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s.
It resulted in the threat of total collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of US dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis.

Since peaking in the second quarter of 2007, household wealth is down $14 trillion.

To offset this decline in consumption and lending capacity, the U.S. government and U.S. Federal Reserve have committed $13.9 trillion, of which $6.8 trillion has been invested or spent, as of June 2009. In effect, the Fed has gone from being the "lender of last resort" to the "lender of only resort" for a significant portion of the economy. In some cases the Fed can now be considered the "buyer of last resort".

Link-
http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008
================================
This is only a small fraction of what has & is going on, the costs in Europe, Japan, China & elsewhere has also been enormous.

However, the major difference between those earlier events & the current GFC is that the effects caused by the major Global Economic drivers turning negative, will last for decades & the usual remedies will not work!!! 
 

Maqqa wrote on Feb 24^th, 2013 at 11:17pm:


I don't play games, either you have something to say or you don't, it's entirely up to you!