Australian Politics Forum - AAA rating partly attributed to low public debt.

MOTR

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AAA rating partly attributed to low public debt.
Mar 29^th, 2013 at 8:02pm

Quote:

Fitch Ratings said Australia had remained one of the strongest performing economies since the global financial crisis began.

"Australia has built up the capacity to absorb shocks due to a combination of low public debt, a free floating exchange rate and liberal trade and labour markets," the agency said.

This allowed authorities to run strong countercyclical policies during downturns, and the economy to adjust.

Fitch said its rating assumed Australia's high level of political stability and governance was maintained, supporting the country's "attractive business climate".

http://www.businessspectator.com.au/news/2013/3/29/australian-news/swan-praises-...

Like I've been consistently saying, our public debt levels have been grossly exaggerated.

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progressiveslol

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Re: AAA rating partly attributed to low public debt.
Reply #1 - Mar 29^th, 2013 at 8:05pm

MOTR wrote on Mar 29^th, 2013 at 8:02pm:

Quote:

Fitch Ratings said Australia had remained one of the strongest performing economies since the global financial crisis began.

"Australia has built up the capacity to absorb shocks due to a combination of low public debt, a free floating exchange rate and liberal trade and labour markets," the agency said.

This allowed authorities to run strong countercyclical policies during downturns, and the economy to adjust.

Fitch said its rating assumed Australia's high level of political stability and governance was maintained, supporting the country's "attractive business climate".

http://www.businessspectator.com.au/news/2013/3/29/australian-news/swan-praises-...

You got a graph for that lower public debt than when liberals were in power?

You got a graph or common sence something for that attractive business climate. Would love to see it when we have so many businesses failing.

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MOTR Gold Member Offline Australian Politics Posts: 6646	Re: AAA rating partly attributed to low public debt. Reply #2 - Mar 29^th, 2013 at 8:07pm Of course it's not lower, progs, what do you think they meant by countercyclical policies. Are you really that dull?
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progressiveslol

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Re: AAA rating partly attributed to low public debt.
Reply #3 - Mar 29^th, 2013 at 8:10pm

MOTR wrote on Mar 29^th, 2013 at 8:07pm:

Of course it's not lower, progs, what do you think they meant by countercyclical policies.

Are you really that dull?

I want to see why I shouldnt be pizzed off with this AAA rating from 3 agencies.

I want it to make sense. You are pointing out areas where they say "this is the reason why". Then I want to see a comparison to what was different to liberals and why they didnt get it.

But to be fair, it isnt your responsibility, but im calling it bunk until I work it out, because as of now, I see no reason or logic for the disparity. I say that because this isnt the first ive raised it.

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namnugenot Gold Member Offline Australian Politics Posts: 639 NSW Gender:	Re: AAA rating partly attributed to low public debt. Reply #4 - Mar 29^th, 2013 at 8:16pm Starting to sound really desperate MOTR... But good for you I'll give you, Julia and Swanny a wave as the bridge slips beneath the waves...who am I kidding it's going to go down like a rock.
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Swagman

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Re: AAA rating partly attributed to low public debt.
Reply #5 - Mar 29^th, 2013 at 8:31pm

MOTR wrote on Mar 29^th, 2013 at 8:02pm:

Quote:

Fitch Ratings said Australia had remained one of the strongest performing economies since the global financial crisis began.

"Australia has built up the capacity to absorb shocks due to a combination of low public debt, a free floating exchange rate and liberal trade and labour markets," the agency said.

This allowed authorities to run strong countercyclical policies during downturns, and the economy to adjust.

Fitch said its rating assumed Australia's high level of political stability and governance was maintained, supporting the country's "attractive business climate".

http://www.businessspectator.com.au/news/2013/3/29/australian-news/swan-praises-...

Like I've been consistently saying, our public debt levels have been grossly exaggerated.

So what? The public debt is low by global standards because of the Howard Govt not because of the current Labor one. Labor haven't had a surplus budget for 20+ years FFS... Grin

...and couldn't even deliver one when Swan said that he would deliver a surplus “come hell or high water”. Grin

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MOTR

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Re: AAA rating partly attributed to low public debt.
Reply #6 - Mar 29^th, 2013 at 8:35pm

progressiveslol wrote on Mar 29^th, 2013 at 8:10pm:

MOTR wrote on Mar 29^th, 2013 at 8:07pm:

Of course it's not lower, progs, what do you think they meant by countercyclical policies.

Are you really that dull?

I want to see why I shouldnt be pizzed off with this AAA rating from 3 agencies.

I want it to make sense. You are pointing out areas where they say "this is the reason why". Then I want to see a comparison to what was different to liberals and why they didnt get it.

But to be fair, it isnt your responsibility, but im calling it bunk until I work it out, because as of now, I see no reason or logic for the disparity. I say that because this isnt the first ive raised it.

Perhaps this might have something to do with it.

Quote:

AUSTRALIA’S most needlessly wasteful spending took place under the John Howard-led Coalition government rather than under the Whitlam, Rudd or Gillard Labor governments, an international study has found.

The International Monetary Fund examined 200 years of government financial records across 55 leading economies.

It identifies only two periods of Australian “fiscal profligacy” in recent years, both during John Howard’s term in office – in 2003 at the start of the mining boom and during his final years in office between 2005 and 2007…

The IMF study mirrors findings of a 2008 Australian Treasury study that found real government spending grew faster in the final four years of the Howard government than in any four-year period since the 1990s recession.

Perhaps there were question marks over how the government might cope with an external shock.

It's a good question, progs. Perhaps the Howard government was entitled to AAA rating, despite its wasteful spending, because it was still able to pay down debt.

I'd like to know the answer myself. However, this has nothing to do with the fact that we are considered to have low levels of public debt.

We clearly don't have a debt problem. However, I'd want to see a plan for debt reduction outlined in the next budget.

I'm really looking forward to the next budget.

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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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namnugenot

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Re: AAA rating partly attributed to low public debt.
Reply #7 - Mar 29^th, 2013 at 8:37pm

Swagman wrote on Mar 29^th, 2013 at 8:31pm:

MOTR wrote on Mar 29^th, 2013 at 8:02pm:

Quote:

Fitch Ratings said Australia had remained one of the strongest performing economies since the global financial crisis began.

"Australia has built up the capacity to absorb shocks due to a combination of low public debt, a free floating exchange rate and liberal trade and labour markets," the agency said.

This allowed authorities to run strong countercyclical policies during downturns, and the economy to adjust.

Fitch said its rating assumed Australia's high level of political stability and governance was maintained, supporting the country's "attractive business climate".

http://www.businessspectator.com.au/news/2013/3/29/australian-news/swan-praises-...

Like I've been consistently saying, our public debt levels have been grossly exaggerated.

So what? The public debt is low by global standards because of the Howard Govt not because of the current Labor one. Labor haven't had a surplus budget for 20+ years FFS... Grin

...and couldn't even deliver one when Swan said that he would deliver a surplus “come hell or high water”. Grin

The reply took a while to get going but a good laugh at the end.

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MOTR

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Re: AAA rating partly attributed to low public debt.
Reply #8 - Mar 29^th, 2013 at 8:39pm

Swagman wrote on Mar 29^th, 2013 at 8:31pm:

MOTR wrote on Mar 29^th, 2013 at 8:02pm:

Quote:

Fitch Ratings said Australia had remained one of the strongest performing economies since the global financial crisis began.

"Australia has built up the capacity to absorb shocks due to a combination of low public debt, a free floating exchange rate and liberal trade and labour markets," the agency said.

This allowed authorities to run strong countercyclical policies during downturns, and the economy to adjust.

Fitch said its rating assumed Australia's high level of political stability and governance was maintained, supporting the country's "attractive business climate".

http://www.businessspectator.com.au/news/2013/3/29/australian-news/swan-praises-...

Like I've been consistently saying, our public debt levels have been grossly exaggerated.

So what? The public debt is low by global standards because of the Howard Govt not because of the current Labor one. Labor haven't had a surplus budget for 20+ years FFS... Grin

...and couldn't even deliver one when Swan said that he would deliver a surplus “come hell or high water”. Grin

FFS, this bloke doesn't even look like he's started shaving. I guess in the echo chamber some wet behind the ears pollie with a vested interest in exaggerating the facts has a better understanding of economics than three international credit rating agencies.

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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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Swagman

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Re: AAA rating partly attributed to low public debt.
Reply #9 - Mar 29^th, 2013 at 8:47pm

MOTR wrote on Mar 29^th, 2013 at 8:39pm:

FFS, this bloke doesn't even look like he's started shaving. I guess in the echo chamber some wet behind the ears pollie with a vested interest in exaggerating the facts has a better understanding of economics than three international credit rating agencies.

The young fella was absolutely right though wasn't he Motr? Grin

Swan didn't deliever on his promised "come hell or high water" surplus did he? Grin

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progressiveslol

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Re: AAA rating partly attributed to low public debt.
Reply #10 - Mar 29^th, 2013 at 8:54pm

MOTR wrote on Mar 29^th, 2013 at 8:35pm:

progressiveslol wrote on Mar 29^th, 2013 at 8:10pm:

MOTR wrote on Mar 29^th, 2013 at 8:07pm:

Of course it's not lower, progs, what do you think they meant by countercyclical policies.

Are you really that dull?

I want to see why I shouldnt be pizzed off with this AAA rating from 3 agencies.

I want it to make sense. You are pointing out areas where they say "this is the reason why". Then I want to see a comparison to what was different to liberals and why they didnt get it.

But to be fair, it isnt your responsibility, but im calling it bunk until I work it out, because as of now, I see no reason or logic for the disparity. I say that because this isnt the first ive raised it.

Perhaps this might have something to do with it.

Quote:

AUSTRALIA’S most needlessly wasteful spending took place under the John Howard-led Coalition government rather than under the Whitlam, Rudd or Gillard Labor governments, an international study has found.

The International Monetary Fund examined 200 years of government financial records across 55 leading economies.

It identifies only two periods of Australian “fiscal profligacy” in recent years, both during John Howard’s term in office – in 2003 at the start of the mining boom and during his final years in office between 2005 and 2007…

The IMF study mirrors findings of a 2008 Australian Treasury study that found real government spending grew faster in the final four years of the Howard government than in any four-year period since the 1990s recession.

Perhaps there were question marks over how the government might cope with an external shock.

It's a good question, progs. Perhaps the Howard government was entitled to AAA rating, despite its wasteful spending, because it was still able to pay down debt.

I'd like to know the answer myself. However, this has nothing to do with the fact that we are considered to have low levels of public debt.

We clearly don't have a debt problem. However, I'd want to see a plan for debt reduction outlined in the next budget.

I'm really looking forward to the next budget.

No. That may be legit, but that is not what the ratings agency said "this is why"

You did say they said "this is why"

Comparisons to known reasons, not someone somewhere said.

What worries me about the conundrum, is the ratings agency would seem that they are very interested in you, as long as you have debt. A false sense of success.

You want more, sure, because you can keep paying it.

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« Last Edit: Mar 29^th, 2013 at 8:59pm by progressiveslol »

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namnugenot

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Re: AAA rating partly attributed to low public debt.
Reply #11 - Mar 30^th, 2013 at 8:16am

progressiveslol wrote on Mar 29^th, 2013 at 8:54pm:

MOTR wrote on Mar 29^th, 2013 at 8:35pm:

progressiveslol wrote on Mar 29^th, 2013 at 8:10pm:

MOTR wrote on Mar 29^th, 2013 at 8:07pm:

Of course it's not lower, progs, what do you think they meant by countercyclical policies.

Are you really that dull?

I want to see why I shouldnt be pizzed off with this AAA rating from 3 agencies.

I want it to make sense. You are pointing out areas where they say "this is the reason why". Then I want to see a comparison to what was different to liberals and why they didnt get it.

But to be fair, it isnt your responsibility, but im calling it bunk until I work it out, because as of now, I see no reason or logic for the disparity. I say that because this isnt the first ive raised it.

Perhaps this might have something to do with it.

Quote:

AUSTRALIA’S most needlessly wasteful spending took place under the John Howard-led Coalition government rather than under the Whitlam, Rudd or Gillard Labor governments, an international study has found.

The International Monetary Fund examined 200 years of government financial records across 55 leading economies.

It identifies only two periods of Australian “fiscal profligacy” in recent years, both during John Howard’s term in office – in 2003 at the start of the mining boom and during his final years in office between 2005 and 2007…

The IMF study mirrors findings of a 2008 Australian Treasury study that found real government spending grew faster in the final four years of the Howard government than in any four-year period since the 1990s recession.

Perhaps there were question marks over how the government might cope with an external shock.

It's a good question, progs. Perhaps the Howard government was entitled to AAA rating, despite its wasteful spending, because it was still able to pay down debt.

I'd like to know the answer myself. However, this has nothing to do with the fact that we are considered to have low levels of public debt.

We clearly don't have a debt problem. However, I'd want to see a plan for debt reduction outlined in the next budget.

I'm really looking forward to the next budget.

No. That may be legit, but that is not what the ratings agency said "this is why"

You did say they said "this is why"

Comparisons to known reasons, not someone somewhere said.

What worries me about the conundrum, is the ratings agency would seem that they are very interested in you, as long as you have debt. A false sense of success.

You want more, sure, because you can keep paying it.

Yes a little bit hypocritical Motr...thread after thread of dire predictions of catastrophe from just a few ppm in carbon increase and when it's debt it's "clearly we have no debt problem". Why do you hate children so much and the childrens children and the childrens childrens children.... Roll Eyes

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Bobby. Gold Member Offline Australian Politics Posts: 105219 Melbourne Gender:	Re: AAA rating partly attributed to low public debt. Reply #12 - Mar 30^th, 2013 at 8:42am Good videos - we'll all end up like Cyrprus.
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MOTR

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Re: AAA rating partly attributed to low public debt.
Reply #13 - Mar 30^th, 2013 at 9:21am

namnugenot wrote on Mar 30^th, 2013 at 8:16am:

progressiveslol wrote on Mar 29^th, 2013 at 8:54pm:

MOTR wrote on Mar 29^th, 2013 at 8:35pm:

progressiveslol wrote on Mar 29^th, 2013 at 8:10pm:

MOTR wrote on Mar 29^th, 2013 at 8:07pm:

Of course it's not lower, progs, what do you think they meant by countercyclical policies.

Are you really that dull?

I want to see why I shouldnt be pizzed off with this AAA rating from 3 agencies.

I want it to make sense. You are pointing out areas where they say "this is the reason why". Then I want to see a comparison to what was different to liberals and why they didnt get it.

But to be fair, it isnt your responsibility, but im calling it bunk until I work it out, because as of now, I see no reason or logic for the disparity. I say that because this isnt the first ive raised it.

Perhaps this might have something to do with it.

Quote:

AUSTRALIA’S most needlessly wasteful spending took place under the John Howard-led Coalition government rather than under the Whitlam, Rudd or Gillard Labor governments, an international study has found.

The International Monetary Fund examined 200 years of government financial records across 55 leading economies.

It identifies only two periods of Australian “fiscal profligacy” in recent years, both during John Howard’s term in office – in 2003 at the start of the mining boom and during his final years in office between 2005 and 2007…

The IMF study mirrors findings of a 2008 Australian Treasury study that found real government spending grew faster in the final four years of the Howard government than in any four-year period since the 1990s recession.

Perhaps there were question marks over how the government might cope with an external shock.

It's a good question, progs. Perhaps the Howard government was entitled to AAA rating, despite its wasteful spending, because it was still able to pay down debt.

I'd like to know the answer myself. However, this has nothing to do with the fact that we are considered to have low levels of public debt.

We clearly don't have a debt problem. However, I'd want to see a plan for debt reduction outlined in the next budget.

I'm really looking forward to the next budget.

No. That may be legit, but that is not what the ratings agency said "this is why"

You did say they said "this is why"

Comparisons to known reasons, not someone somewhere said.

What worries me about the conundrum, is the ratings agency would seem that they are very interested in you, as long as you have debt. A false sense of success.

You want more, sure, because you can keep paying it.

Yes a little bit hypocritical Motr...thread after thread of dire predictions of catastrophe from just a few ppm in carbon increase and when it's debt it's "clearly we have no debt problem". Why do you hate children so much and the childrens children and the childrens childrens children.... Roll Eyes

There is nothing hypocritical about basing my opinions on expert advice. I've an economics background so I can work out for myself we don't have a debt problem. But you don't have to take my word for it, the three most prestigious international credit rating agencies are telling you the same thing.

But you obviously know more. Just like you know more than the climate scientist who are telling us it's warming dangerously and and most certainly it's us. I've made significant sacrifices to reduce my personal carbon footprint, because I respect children and will do what I can to protect their future. I clearly dont hate children, but God save them from the docile stupidity of men like you.

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« Last Edit: Mar 30^th, 2013 at 9:31am 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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Maqqa Gold Member Offline 14% - that low?! Posts: 16000	Re: AAA rating partly attributed to low public debt. Reply #14 - Mar 30^th, 2013 at 9:31am MOTR wrote on Mar 29^th, 2013 at 8:02pm: Like I've been consistently saying, our public debt levels have been grossly exaggerated. By how much?
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