Socrates wrote on Jul 3
rd, 2013 at 12:49pm:
You cannot buy your way out of a WFC in the long term. Once the interest starts to pile on and you cannot repay your debts, a deeper recession begins and that's when the easy way KRUDD took starts to take its toll on the country. America's downturn which started the WFC had an effect on nearly all world economies, but not all world economies frittered a surplus away and then went into more debt like the Labor government. Australia may at the time seemed the envy of the world, but the next few years will change that view of this country unless a Coalition government takes the reins and slowly brings this country back on course, which will not happen in one or even two terms, or generations!
There is no Wendy Swan in the Coalition. He resides at the bottom of the garden now with all the other fairies!
The Yanks have been borrowing money in gigantic amounts
& printing money night & day since 2008 yet their economy
is good & their dollar is of high value.
They don't have hyperinflation which is a big surprise.
That has turned economics on it's head as it's the opposite
of every lesson in history.
The common sense rules no longer apply.
You'd have to be a clown to say that the american economy is 'good'. It is still getting stimulus money and can barely stay out of recession. Debt is enormous, deficit is massive and the best you can say is that it is getting better. Every single indicator is worse than us.