Australian Politics Forum - Tony's wrecking ball takes out his own credibility

Doctor Jolly Gold Member Offline Australian Politics Posts: 3808	Re: Tony's wrecking ball takes out his own credibility Reply #30 - Apr 11^th, 2013 at 12:42pm Stop the bytes.
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Dsmithy70 Gold Member Offline ire futuis vobismetipsis Posts: 13147 Newy Gender:	Re: Tony's wrecking ball takes out his own credibility Reply #31 - Apr 11^th, 2013 at 1:36pm
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Dsmithy70 Gold Member Offline ire futuis vobismetipsis Posts: 13147 Newy Gender:	Re: Tony's wrecking ball takes out his own credibility Reply #32 - Apr 11^th, 2013 at 1:38pm
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Dsmithy70 Gold Member Offline ire futuis vobismetipsis Posts: 13147 Newy Gender:	Re: Tony's wrecking ball takes out his own credibility Reply #33 - Apr 11^th, 2013 at 1:39pm
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sir prince duke alevine Gold Member Offline Australian Politics Posts: 23619 Gender:	Re: Tony's wrecking ball takes out his own credibility Reply #34 - Apr 11^th, 2013 at 5:14pm bump bump. Interesting how every "intelligent" right-leaning voter on this forum, concerned at the cost of the Carbon Tax, is staying away from this thread. Is this how you get your opinions? Avoid information as best as possible?
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Kat

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Re: Tony's wrecking ball takes out his own credibility
Reply #35 - Apr 11^th, 2013 at 5:22pm

sir prince duke alevine wrote on Apr 11^th, 2013 at 5:14pm:

bump bump. Interesting how every "intelligent" right-leaning voter on this forum, concerned at the cost of the Carbon Tax, is staying away from this thread. Is this how you get your opinions? Avoid information as best as possible?

I asked the same thing in a different thread earlier.

Got told I was an 'abusive leftie', and got accused of name-calling... Huh

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John Smith

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Re: Tony's wrecking ball takes out his own credibility
Reply #36 - Apr 11^th, 2013 at 5:41pm

Armchair_Politician wrote on Apr 10^th, 2013 at 6:51am:

MOTR wrote on Apr 10^th, 2013 at 6:44am:

Armchair_Politician wrote on Apr 10^th, 2013 at 6:11am:

To be fair, it's near-impossible to talk UP the economy with an incompetent, debt-riddled, deficit-plagued buffoon like Wayne Swan sending it down the drain...

How does that affect the way you make economic decisions, armchair?

In the case of our bumbling Treasurer, he clearly uses a board with a spinning arrow to make his decisions.

that proves he has more skills than you do!

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Dnarever Gold Member Offline Australian Politics Posts: 59310 Here Gender:	Re: Tony's wrecking ball takes out his own credibility Reply #37 - Apr 11^th, 2013 at 5:49pm If Tony Abbott were to become PM it would be interesting with his 4 year Chicken Little act - "the sky is falling" to see if he is going to govern Australia from under his bed.
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John Smith Gold Member Offline Australian Politics Posts: 75162 Gender:	Re: Tony's wrecking ball takes out his own credibility Reply #38 - Apr 11^th, 2013 at 5:51pm Dnarever wrote on Apr 11^th, 2013 at 5:49pm: If Tony Abbott were to become PM it would be interesting with his 4 year Chicken Little act - "the sky is falling" to see if he is going to govern Australia from under his bed. It'll be 4 years of blaming labor for every single one of their decisions
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corporate_whitey Gold Member Offline Australian Politics Posts: 8896 Archivist	Re: Tony's wrecking ball takes out his own credibility Reply #39 - Apr 11^th, 2013 at 6:08pm Dont forget Julia Gillard has been playing Thatcher on single mothers and the disabled...
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sir prince duke alevine

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Re: Tony's wrecking ball takes out his own credibility
Reply #40 - Apr 11^th, 2013 at 8:09pm

MOTR wrote on Apr 10^th, 2013 at 4:57am:

Quote:

Australia has now had a price on carbon for a little over eight months.

Some people in positions of power and influence were expecting the carbon tax, as it has colloquially become known, to either "act as a wrecking ball across the economy” or be "absolutely catastrophic", "wipe out jobs big-time" while towns like Whyalla would be "wiped off the map" because of it.

Further, it would create "ghost towns” and "discourage investment” in mining.

Get the drift? There were forecasts that the carbon tax would completely undermine economic growth and market conditions.

How accurate have these projections been?

With economic data flowing in and financial markets trading over those eight months, it is possible to test the validity of forecasts of "wrecking balls” and catastrophe.

The facts below are all based on the latest Australian Bureau of Statistics or Reserve Bank data, unless otherwise indicated.

Since the carbon price was introduced:

– Real GDP has risen by 1.2 per cent (annualised growth rate of 2.5 per cent).

– Employment has risen by 53,400 people, made up of 30,000 new full-time jobs and 23,400 part-time jobs. The annualised rate of job creation is around 95,000.

– The unemployment rate has edged up to 5.4 per cent in January 2013 from 5.3 per cent in June 2012, just before carbon was priced.

– The stock market (All Ordinaries Index) has risen 25 per cent, adding approximately $296 billion to the value of Australian shares. A further $30 billion or so of dividends have been paid to shareholders since June 30, 2012.

– According to RP Data, house prices have risen 2.8 per cent since June 30, 2012, adding approximately $110 billion to the wealth of owners of houses.

At this point I might pause. Have a think about those last two points: the gains in stock market values and house prices alone have been nearly $410 billion in just over eight months. That is just under $50,000 per Australian household, on average.

– In terms of inflation, the CPI has risen by 1.6 per cent in six months, a figure which includes the boost to prices from the carbon price driven lift in electricity and gas prices. Underlying inflation has risen 1.3 per cent in the six months (annualised pace of 2.7 per cent) and this figure has also been inflated by the carbon price.

– The wages price index has risen by 1.5 per cent in six months (annualised pace of 3.1 per cent), locking in a period of moderate wage increases.

– Average weekly earnings have risen by $39.10 a week (from May 2012 to November 2012) with an annualised increase of $2035.

– The value of retail sales has risen by just 0.1 per cent (annualised rate 0.3 per cent).

– The number of new motor vehicle registrations has risen by 4.7 per cent with the six largest monthly number of new car sales ever recorded being registered in the last six months.

– The number of dwelling building approvals has fallen 10.1 per cent since June and the number of new housing loans for owner occupation has fallen 0.1 per cent over the same period.

– The NAB measure of business conditions has fallen from -1 points in June to -2 points in January, but business confidence has risen from -3 points to +3 points over the same timeframe.

– The Westpac measure of consumer sentiment has risen by 13.3 per cent since June to be at a 38-month high.

– The RBA index of commodity prices has fallen 5.4 per cent in Australian dollar terms since June and has fallen 2.1 per cent in US dollar terms.

– The RBA has cut the official cash rate from 3.5 per cent to 3 per cent.

– The 10-year government bond yield has risen a net 35 basis points to 3.40 per cent as of yesterday’s close.

– The Australian dollar has risen around 0.9 per cent as strong foreign inflows into Australia continue.

At the same time, Australia’s triple-A credit rating from all three ratings agencies remains unchallenged.

So a wrecking ball? Catastrophic? Wiped off the map?

The disconcerting thing is that all of those dire predictions from above were made by Tony Abbott, the man who studied economics at university and the man likely to be prime minister in a little over six months.

Read more: http://www.businessspectator.com.au/article/2013/3/7/national-affairs/australias...

bump. In case you are too lazy to go to page one.

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Dnarever

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Re: Tony's wrecking ball takes out his own credibility
Reply #41 - Apr 11^th, 2013 at 8:26pm

sir prince duke alevine wrote on Apr 11^th, 2013 at 8:09pm:

MOTR wrote on Apr 10^th, 2013 at 4:57am:

Quote:

Australia has now had a price on carbon for a little over eight months.

Some people in positions of power and influence were expecting the carbon tax, as it has colloquially become known, to either "act as a wrecking ball across the economy” or be "absolutely catastrophic", "wipe out jobs big-time" while towns like Whyalla would be "wiped off the map" because of it.

Further, it would create "ghost towns” and "discourage investment” in mining.

Get the drift? There were forecasts that the carbon tax would completely undermine economic growth and market conditions.

How accurate have these projections been?

With economic data flowing in and financial markets trading over those eight months, it is possible to test the validity of forecasts of "wrecking balls” and catastrophe.

The facts below are all based on the latest Australian Bureau of Statistics or Reserve Bank data, unless otherwise indicated.

Since the carbon price was introduced:

– Real GDP has risen by 1.2 per cent (annualised growth rate of 2.5 per cent).

– Employment has risen by 53,400 people, made up of 30,000 new full-time jobs and 23,400 part-time jobs. The annualised rate of job creation is around 95,000.

– The unemployment rate has edged up to 5.4 per cent in January 2013 from 5.3 per cent in June 2012, just before carbon was priced.

– The stock market (All Ordinaries Index) has risen 25 per cent, adding approximately $296 billion to the value of Australian shares. A further $30 billion or so of dividends have been paid to shareholders since June 30, 2012.

– According to RP Data, house prices have risen 2.8 per cent since June 30, 2012, adding approximately $110 billion to the wealth of owners of houses.

At this point I might pause. Have a think about those last two points: the gains in stock market values and house prices alone have been nearly $410 billion in just over eight months. That is just under $50,000 per Australian household, on average.

– In terms of inflation, the CPI has risen by 1.6 per cent in six months, a figure which includes the boost to prices from the carbon price driven lift in electricity and gas prices. Underlying inflation has risen 1.3 per cent in the six months (annualised pace of 2.7 per cent) and this figure has also been inflated by the carbon price.

– The wages price index has risen by 1.5 per cent in six months (annualised pace of 3.1 per cent), locking in a period of moderate wage increases.

– Average weekly earnings have risen by $39.10 a week (from May 2012 to November 2012) with an annualised increase of $2035.

– The value of retail sales has risen by just 0.1 per cent (annualised rate 0.3 per cent).

– The number of new motor vehicle registrations has risen by 4.7 per cent with the six largest monthly number of new car sales ever recorded being registered in the last six months.

– The number of dwelling building approvals has fallen 10.1 per cent since June and the number of new housing loans for owner occupation has fallen 0.1 per cent over the same period.

– The NAB measure of business conditions has fallen from -1 points in June to -2 points in January, but business confidence has risen from -3 points to +3 points over the same timeframe.

– The Westpac measure of consumer sentiment has risen by 13.3 per cent since June to be at a 38-month high.

– The RBA index of commodity prices has fallen 5.4 per cent in Australian dollar terms since June and has fallen 2.1 per cent in US dollar terms.

– The RBA has cut the official cash rate from 3.5 per cent to 3 per cent.

– The 10-year government bond yield has risen a net 35 basis points to 3.40 per cent as of yesterday’s close.

– The Australian dollar has risen around 0.9 per cent as strong foreign inflows into Australia continue.

At the same time, Australia’s triple-A credit rating from all three ratings agencies remains unchallenged.

So a wrecking ball? Catastrophic? Wiped off the map?

The disconcerting thing is that all of those dire predictions from above were made by Tony Abbott, the man who studied economics at university and the man likely to be prime minister in a little over six months.

Read more: http://www.businessspectator.com.au/article/2013/3/7/national-affairs/australias...

bump. In case you are too lazy to go to page one.

The current government is incompetant, You need to learn how to believe the Daily Telegraph and ignore the facts. I am afraid that you just don't get it do you.

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sir prince duke alevine

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Re: Tony's wrecking ball takes out his own credibility
Reply #42 - Apr 11^th, 2013 at 8:39pm

Dnarever wrote on Apr 11^th, 2013 at 8:26pm:

sir prince duke alevine wrote on Apr 11^th, 2013 at 8:09pm:

MOTR wrote on Apr 10^th, 2013 at 4:57am:

Quote:

Australia has now had a price on carbon for a little over eight months.

Some people in positions of power and influence were expecting the carbon tax, as it has colloquially become known, to either "act as a wrecking ball across the economy” or be "absolutely catastrophic", "wipe out jobs big-time" while towns like Whyalla would be "wiped off the map" because of it.

Further, it would create "ghost towns” and "discourage investment” in mining.

Get the drift? There were forecasts that the carbon tax would completely undermine economic growth and market conditions.

How accurate have these projections been?

With economic data flowing in and financial markets trading over those eight months, it is possible to test the validity of forecasts of "wrecking balls” and catastrophe.

The facts below are all based on the latest Australian Bureau of Statistics or Reserve Bank data, unless otherwise indicated.

Since the carbon price was introduced:

– Real GDP has risen by 1.2 per cent (annualised growth rate of 2.5 per cent).

– Employment has risen by 53,400 people, made up of 30,000 new full-time jobs and 23,400 part-time jobs. The annualised rate of job creation is around 95,000.

– The unemployment rate has edged up to 5.4 per cent in January 2013 from 5.3 per cent in June 2012, just before carbon was priced.

– The stock market (All Ordinaries Index) has risen 25 per cent, adding approximately $296 billion to the value of Australian shares. A further $30 billion or so of dividends have been paid to shareholders since June 30, 2012.

– According to RP Data, house prices have risen 2.8 per cent since June 30, 2012, adding approximately $110 billion to the wealth of owners of houses.

At this point I might pause. Have a think about those last two points: the gains in stock market values and house prices alone have been nearly $410 billion in just over eight months. That is just under $50,000 per Australian household, on average.

– In terms of inflation, the CPI has risen by 1.6 per cent in six months, a figure which includes the boost to prices from the carbon price driven lift in electricity and gas prices. Underlying inflation has risen 1.3 per cent in the six months (annualised pace of 2.7 per cent) and this figure has also been inflated by the carbon price.

– The wages price index has risen by 1.5 per cent in six months (annualised pace of 3.1 per cent), locking in a period of moderate wage increases.

– Average weekly earnings have risen by $39.10 a week (from May 2012 to November 2012) with an annualised increase of $2035.

– The value of retail sales has risen by just 0.1 per cent (annualised rate 0.3 per cent).

– The number of new motor vehicle registrations has risen by 4.7 per cent with the six largest monthly number of new car sales ever recorded being registered in the last six months.

– The number of dwelling building approvals has fallen 10.1 per cent since June and the number of new housing loans for owner occupation has fallen 0.1 per cent over the same period.

– The NAB measure of business conditions has fallen from -1 points in June to -2 points in January, but business confidence has risen from -3 points to +3 points over the same timeframe.

– The Westpac measure of consumer sentiment has risen by 13.3 per cent since June to be at a 38-month high.

– The RBA index of commodity prices has fallen 5.4 per cent in Australian dollar terms since June and has fallen 2.1 per cent in US dollar terms.

– The RBA has cut the official cash rate from 3.5 per cent to 3 per cent.

– The 10-year government bond yield has risen a net 35 basis points to 3.40 per cent as of yesterday’s close.

– The Australian dollar has risen around 0.9 per cent as strong foreign inflows into Australia continue.

At the same time, Australia’s triple-A credit rating from all three ratings agencies remains unchallenged.

So a wrecking ball? Catastrophic? Wiped off the map?

The disconcerting thing is that all of those dire predictions from above were made by Tony Abbott, the man who studied economics at university and the man likely to be prime minister in a little over six months.

Read more: http://www.businessspectator.com.au/article/2013/3/7/national-affairs/australias...

bump. In case you are too lazy to go to page one.

The current government is incompetant, You need to learn how to believe the Daily Telegraph and ignore the facts. I am afraid that you just don't get it do you.

I'm still waiting for Longy to come here and claim the economic conditions are just another union hack job and the carbon tax has destroyed everything.

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Lobo Gold Member Offline Australian Politics Posts: 7407 Sydney Gender:	Re: Tony's wrecking ball takes out his own credibility Reply #43 - Apr 11^th, 2013 at 8:45pm Dnarever wrote on Apr 11^th, 2013 at 5:49pm: If Tony Abbott were to become PM it would be interesting with his 4 year Chicken Little act - "the sky is falling" to see if he is going to govern Australia from under his bed. Nah!! Too many reds under there....
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sir prince duke alevine Gold Member Offline Australian Politics Posts: 23619 Gender:	Re: Tony's wrecking ball takes out his own credibility Reply #44 - Apr 12^th, 2013 at 9:24am Bump. Really interesting to see that None of the usual suspects have uttered a word. Wonder if they will tomorrow claim, "CARBON TAX DESTROYED MY LIVLIHOOD?" without offering any evidence, of course.
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