Australian Politics Forum - Stop talking our economy down, Abbott!

MOTR

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Stop talking our economy down, Abbott!
Mar 23^rd, 2013 at 12:04pm

While the echo chamber resounds with negativity and unhelpful predictions of gloom, economic indicators paint a much brighter story. Over the past three years, output in the Australian economy has increased by 9 per cent, the number of people with jobs has risen by over half a million, leaving unemployment unchanged at 5.4 per cent, and the underlying inflation has averaged 2½ per cent, well within the RBA's comfort range. A truly remarkable outcome considering our external situation.

In the words of Philip Lowe, Deputy Governor of the RBA, this represents a very good outcome.

Quote:

By the standards of most other countries, this represents a very good outcome and a high degree of internal balance. Remarkably, we have achieved this balance despite experiencing the biggest boom in business investment and the largest rise in the terms of trade for over a hundred years. In the past, much smaller investment and terms of trade booms caused outbreaks of inflation and the emergence of other imbalances in the economy. On this occasion this has not happened. The investment boom has not led to a large increase in the current account deficit. There has not been an explosion in credit. Increases in asset prices have generally been contained. And the average level of interest rates has been below the long-term average, despite the very significant additional demand generated by the record levels of investment and the terms of trade.

http://www.rba.gov.au/speeches/2013/sp-dg-190313.html

But don't expect to be hearing this story from the Murdoch press.

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Hunt says Coalition accepts IPCC findings

"What does this mean? It means that we need to do practical things that actually reduce emissions."

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progressiveslol

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Re: Stop talking our economy down, Abbott!
Reply #1 - Mar 23^rd, 2013 at 12:17pm

Gee it could be the spending like a drunkin sailor continuing. The stalinist free speech and media laws. The tax that doesnt bring anywhere near the already spent money against it ...................... and on................. and on

And the tax we werent going to have that cripples exports and makes imports more attractive.

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MOTR Gold Member Offline Australian Politics Posts: 6646	Re: Stop talking our economy down, Abbott! Reply #2 - Mar 23^rd, 2013 at 12:24pm Three out of three AAA ratings shows just how stupid that line is, progs. I guess if you say it often enough it becomes true.
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progressiveslol

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Re: Stop talking our economy down, Abbott!
Reply #3 - Mar 23^rd, 2013 at 12:26pm

MOTR wrote on Mar 23^rd, 2013 at 12:24pm:

Three out of three AAA ratings shows just how stupid that line is, progs. I guess if you say it often enough it becomes true.

You know whats stupid about the AAA rating. You cant get it unless you make slaves of your people and show they can work hard enough to pay it back.

Ill have the zero debt and they can shove their AAA rating up their arses

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MOTR

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Re: Stop talking our economy down, Abbott!
Reply #4 - Mar 23^rd, 2013 at 12:32pm

progressiveslol wrote on Mar 23^rd, 2013 at 12:26pm:

MOTR wrote on Mar 23^rd, 2013 at 12:24pm:

Three out of three AAA ratings shows just how stupid that line is, progs. I guess if you say it often enough it becomes true.

You know whats stupid about the AAA rating. You cant get it unless you make slaves of your people and show they can work hard enough to pay it back.

Ill have the zero debt and they can shove their AAA rating up their arses

What about private debt and household savings, Maqqa. For many households are balance sheets are in a much healthier position.

This absurd notion that government's should never go into debt no matter what the economic conditions is the same insane thinking that brought us the Great Depression.

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Hunt says Coalition accepts IPCC findings

"What does this mean? It means that we need to do practical things that actually reduce emissions."

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longweekend58

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Re: Stop talking our economy down, Abbott!
Reply #5 - Mar 23^rd, 2013 at 12:40pm

the AAA rating is important but at the same tie, the ratings agency have serious credibility problems. not one saw the GFC coming and had American banks - which promptly collapsed - at AAA ratings. Our banks earned and deserve AAA ratings because of their performance - not Wayne Swans performance. It was the combined efforts of Paul Keating and Peter Costello which put in place prudential rules that place our 4 banks in the WORLDS top 10.

Labor came post facto and wants to claim bragging rights for a world-class economy and AAA banks that were GIFTED to them, not created. They might have kept the economy ticking over but unlike their predecessors they didn't borrow quarter of a trillion dollars to do so. My domestic economy would look pretty awesome too if i borrowed a couple million dollars that i will pass to my children to repay.

when you want to track economic performance you cannot exclude debt as it is an intrinsic component of health.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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longweekend58

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Re: Stop talking our economy down, Abbott!
Reply #6 - Mar 23^rd, 2013 at 12:59pm

MOTR wrote on Mar 23^rd, 2013 at 12:32pm:

progressiveslol wrote on Mar 23^rd, 2013 at 12:26pm:

MOTR wrote on Mar 23^rd, 2013 at 12:24pm:

Three out of three AAA ratings shows just how stupid that line is, progs. I guess if you say it often enough it becomes true.

You know whats stupid about the AAA rating. You cant get it unless you make slaves of your people and show they can work hard enough to pay it back.

Ill have the zero debt and they can shove their AAA rating up their arses

What about private debt and household savings, Maqqa. For many households are balance sheets are in a much healthier position.

This absurd notion that government's should never go into debt no matter what the economic conditions is the same insane thinking that brought us the Great Depression.

while that is true, the obverse that govts can borrow endlessly is what brought about the GFC. the truth is in the middle of borrowing responsibly in hard times and paying them off in good times. Teh trouble is only one party has ever done much of the latter. and the current ALP doesnt even seem to recognise the value of paying down debt.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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MOTR Gold Member Offline Australian Politics Posts: 6646	Re: Stop talking our economy down, Abbott! Reply #7 - Mar 23^rd, 2013 at 1:01pm AAA ratings say otherwise, longy. How can you substantiate the argument that we have too much debt.
Back to top	Hunt says Coalition accepts IPCC findings "What does this mean? It means that we need to do practical things that actually reduce emissions." IP Logged

Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: Stop talking our economy down, Abbott! Reply #8 - Mar 23^rd, 2013 at 1:08pm MOTR wrote on Mar 23^rd, 2013 at 1:01pm: AAA ratings say otherwise, longy. How can you substantiate the argument that we have too much debt. Why have any debt when you are lucky enough to be resources driven? Kuwait doesn't. Neither does Saudi.
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longweekend58

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Re: Stop talking our economy down, Abbott!
Reply #9 - Mar 23^rd, 2013 at 5:26pm

MOTR wrote on Mar 23^rd, 2013 at 1:01pm:

AAA ratings say otherwise, longy. How can you substantiate the argument that we have too much debt.

you do realise that AAA ratings are given by ratings companies that use, to say the least odd methodologies and are the same ones that gave the plethora of failed banks in the GFC the same ratings?

you are following the tried and failed labor thinking of more debt, more debt and more and more of the same. Just because we have lower debt than most is hardly an endorsement of economic management. we had NO DEBT at the start of this crap govt while the countries you compare us to (when it suits you) had unsustainable levels even then. It is almost as if you think this is the year 5AL (after labor) instead of 2013. some things actually happened before your aster - the cowardly lion (Rudd) ascended the throne.

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« Last Edit: Mar 24^th, 2013 at 7:25am by longweekend58 »

AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Maqqa

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14% - that low?!

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Re: Stop talking our economy down, Abbott!
Reply #10 - Mar 23^rd, 2013 at 5:28pm

Andrei.Hicks wrote on Mar 23^rd, 2013 at 1:08pm:

MOTR wrote on Mar 23^rd, 2013 at 1:01pm:

AAA ratings say otherwise, longy. How can you substantiate the argument that we have too much debt.

Why have any debt when you are lucky enough to be resources driven?
Kuwait doesn't.
Neither does Saudi.

Because we have to keep up with the Jones, Smiths and Iamuptomyneckindebtopopulous - but not the Mohammeds and Abdullahs

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Bill 14% is not the alcohol content of that wine. It's your poll number

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Armchair_Politician

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Re: Stop talking our economy down, Abbott!
Reply #11 - Mar 23^rd, 2013 at 6:46pm

MOTR wrote on Mar 23^rd, 2013 at 1:01pm:

AAA ratings say otherwise, longy. How can you substantiate the argument that we have too much debt.

Easy - we have too much debt and Swan is spending far in excess of what he receives in revenue! If he were running a business, it'd have been declared bankrupt years ago and he'd have been sacked without the prospect of finding work ever again as a Treasurer. Best in the world my hairy backside!!!

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MOTR

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Re: Stop talking our economy down, Abbott!
Reply #12 - Mar 23^rd, 2013 at 9:53pm

Armchair_Politician wrote on Mar 23^rd, 2013 at 6:46pm:

MOTR wrote on Mar 23^rd, 2013 at 1:01pm:

AAA ratings say otherwise, longy. How can you substantiate the argument that we have too much debt.

Easy - we have too much debt and Swan is spending far in excess of what he receives in revenue! If he were running a business, it'd have been declared bankrupt years ago and he'd have been sacked without the prospect of finding work ever again as a Treasurer. Best in the world my hairy backside!!!

But Swan isn't running a business. When Howard was treasurer he was prepared to do exactly the same thing.

By any measure the Australian government has low levels of debt.

What measure of debt are you using to imply we have a debt problem.

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« Last Edit: Mar 23^rd, 2013 at 10:37pm by MOTR »

Hunt says Coalition accepts IPCC findings

"What does this mean? It means that we need to do practical things that actually reduce emissions."

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MOTR Gold Member Offline Australian Politics Posts: 6646	Re: Stop talking our economy down, Abbott! Reply #13 - Mar 23^rd, 2013 at 10:12pm The Australian economy is in good shape and Swan is a competent Treasurer. Let's see if Abbott can bring to the table policies that have been costed and properly audited.
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MOTR

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Re: Stop talking our economy down, Abbott!
Reply #14 - Mar 24^th, 2013 at 6:18am

longweekend58 wrote on Mar 23^rd, 2013 at 5:26pm:

MOTR wrote on Mar 23^rd, 2013 at 1:01pm:

AAA ratings say otherwise, longy. How can you substantiate the argument that we have too much debt.

you do realise that AAA ratings are given by ratings companies that use, to say the least odd methodologies and are the same ones that gave the plethora of failed banks in the GFC the same ratings?

you are following the tried and failed labor thinking of more debt, more debt and more and more of the same. Just because we have lower debt than most is hardly an endorsement of economic management. we had NO DEBT at the start of this crap govt while the countries you compare us to (when it suits you) had unsustainable levels even then. It is almost as if you think this is the year 5BL (before labor) instead of 2013. some things actually happened before your aster - the cowardly lion (Rudd) ascended the throne.

Saying something over and over again doesn't make it right. Can you justify why you believe we have a debt problem.

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Hunt says Coalition accepts IPCC findings

"What does this mean? It means that we need to do practical things that actually reduce emissions."

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