perceptions_now wrote on Feb 23
rd, 2014 at 4:24pm:
bogarde73 wrote on Feb 23
rd, 2014 at 3:00pm:
G20 finance ministers agree to lift global growth target
Updated 2 minutes ago
The G20 finance ministers meeting has agreed to target a lift in global growth that is 2 per cent higher than current forecasts over five years.
Federal Treasurer Joe Hockey says it would represent an increase in global GDP of more than $2 trillion.
Mr Hockey says meeting the target will require increasing investment but that it could create "tens of millions of new jobs".
"In a major step forward, the G20 finance ministers and Central Bank governors have decided to put a number on our aspiration," Mr Hockey said.
"We are committed to implementing policies that aim to lift our collective GDP by more than 2 per cent above the trajectory implied by current policies over the next five years.
"Put differently, our policies could deliver over $2 trillion more in real economic activity and tens of millions of new jobs."
Mr Hockey says the ministers will be laying down concrete policies in Brisbane at the end of the year.
He also spoke about the need to progress reforms on the IMF and expressed disappointment that the reforms agreed to in 2010 had not been secured.
The Treasurer urged the US to ratify those reforms.
Mr Hockey also spoke about tax reform, particularly the issues of base erosion and profit shifting.
Just because Politicians say something, doesn't make it true.In fact, usually the opposite is correct.
In this instance, it is the opposite that is true, as the Global basics will make the Growth "aim" impossible!What Global Basics, you say, well -1)
Demographics have been the backstop of Economic Growth, for around 60-80 years, depending on which criteria is used and the Peaks & troughs of
Demographics are usually reflected 50 years later.So,
2014 is now set to reflect the fact that the Baby Boomer era ended in 1964, which means Demand will Decline, not increase, as the last Boomers now go into their final savings years & the bulk of Boomers actually enter their "spendthrift" Retirement years.
And, 2014 is also set for the Bust phase of the current & usual Economic Boom/Bust cycle.
2)
Peak Energy has arrived, thus the cost of Energy & everything related to energy has been rising & will rise much more, thus eating greatly into the "Disposable income" of the vast majority of people,
thus reducing Demand.
3)
Global Debt is already at historic highs and moves must be made to start the long haul back!
Thus Taxes must increase, Tax loopholes must be closed & Expenditures must Decrease, in order to start down the Debt reduction path.
This also means that Demand will Decline, not increase! 4)
Climate Change, irrespective of whether it is natural or man made, is causing many problems. It is driving up costs, it is set to deliver a Decline in Agricultural Production & in many areas a lack of rainfall will put restrictions on Population increases.
All of which will put a further Decline into Demand!So, whilst our "friendly Pollies", of all shapes & sizes, from here & elsewhere & from all types of
Political Party's may say they will "aim" for higher Growth, But the Reality is, based on Real Facts, they have as much chance of success in achieving their higher Growth "aim", as does a Pig in trying to Fly, the Pig may try, but all that's going to happen is he will make the leap "of faith", then die, as he crashes to the ground!Sorry, to be so blunt, But facts are facts and nothing any Polly will say, is going to make these facts go away!
true but what we have to take into account perc... is dealing with other economies and govts..
its not just about US is it??...
if we dont bend to others we cannot expect them to bend towards us..
we have to fit in perc...its that simple.. we are not an island unto ourselves...
its no good going back years ago.. its a different world
today we want more for doing less... we want power electricity..but want it for free...... what the??..
we want houses but expect the govt to pay for some of it.... what the????
we expect to have free medical treatment... but only the BEST will do mind you.....what the?
our attitude is appalling... if we dont pull our weight we will sink thats for sure.....look at what people did during the war..not on ly did they go without they paid for everything didnt expect bugger all for nothing... and did jobs..women built planes for gods sake...
ask some of them what an iron is used for and they wouldnt know.
we all need to pull our heads in and s top blaming govts for all our ills...we have got so selfish in this country it isnt anything like it was when I first came here...
everyone worked then they didnt care what it was they did it..now they whinge for more money for the dole. so they can keep their lifestyle..
Totally agree on the selfish greedy Australians these days and lazy.... money for nothing and your chicks for free.....
They are also going after these tax havens of the super rich and big companies not paying their ways....
Good on them... go Libs!!
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