Australian Politics Forum - Australia's worst-ever Treasurer joins US talkfest

St George of the Garden

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #30 - Mar 27^th, 2014 at 4:53pm

I see nobody tried to answer my question.

Why did trying to restrain spending cause unemployment to rise?

Will ask a second one: What are the fiscal implications of rising unemployment?

Hmmm will ask a third one: was Costello ever praised in an independent magazine, did he ever get a high paying job in private enterprise?

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St George of the Garden Gold Member Offline http://tinyurl.com/n 3o8m2x Posts: 9809 Gender:	Re: Australia's worst-ever Treasurer joins US talkfest Reply #31 - Mar 27^th, 2014 at 4:54pm Double post.
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Life_goes_on

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #32 - Mar 27^th, 2014 at 4:59pm

mantra wrote on Mar 27^th, 2014 at 12:34pm:

I caught a bit of Hockey being questioned in Parliament about the doubling of the federal debt so early into the Coalition's leadership and instead of answering the question - he turned it into an attack on Swan. It was nasty.

If anyone can remember - there was a $70 billion blackhole in the Coalition's pre-election budget. No-one had a clue where the money was to come from, but it appears to be a lot more.

Hockey refuses to explain how they've spent this $200 billion in six months. Attack to distract is the Coalition doctrine.

Hockey has always been a buffoon. Since getting in, he's a nasty buffoon.

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Dnarever Gold Member Offline Australian Politics Posts: 59231 Here Gender:	Re: Australia's worst-ever Treasurer joins US talkfest Reply #33 - Mar 27^th, 2014 at 5:19pm Australia's worst-ever Treasurer joins US talkfest Must have missed the story - which talkfest is Crazy Joe on this time ????
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Dnarever

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #34 - Mar 27^th, 2014 at 5:21pm

Armchair_Politician wrote on Mar 27^th, 2014 at 3:38pm:

Rhet-Oracle wrote on Mar 27^th, 2014 at 2:45pm:

St George of the Garden wrote on Mar 27^th, 2014 at 12:23pm:

You economic illiterate! Swan saw us safe though the GFC with only ONE quarter of negative growth and obtained a AAA rating from all three ratings agencies. He removed like $130Bn a year of Howard’s irresponsible spending and started removing some of the tax expenditures. Hokey quickly reversed the cuts to this middleclass welfare—despite the “Budget Emergency.”

He also was busy issuing papers, doing electorate visits—an output way beyond anything Tip achieved. Forbes Business Magazine lauded with what Swan did with the ETS revenue—tripled the tax free thresh hold. Not bad, eh?

One thing Swan wasn’t known for—shooting his mouth off! No show pony was Swan.

Since the shambles took over unemployment has been climbing and we have lost Holden and Toyota and half the car parts industry. The Budget will likely tip us into recession.

Wayne Swan, the most incompetent Treasurer managed to chug along because his first boss handed money out like it was going out of style, and together with his second boss, resided over the most ridiculous accounting fiasco possible, he has a hard time staying awake let alone looking after a nations finances.

It would appear that economics really isn't your forte.

What's the difference between Costello and Swan? Costello spent money he had, Swan just borrowed it as if it grew on trees. Costello generated one surplus after another, Swan gave us the biggest deficits this country has ever seen. Costello paid off Keatings' debt of $96bn, Swan racked up a debt in excess of $300bn. Both gave us tax cuts, the difference being that Costello could afford to, whereas Swan further eroded his source of badly needed revenue (brilliant move, Swanny). Costello has a high-ranking and influential position with the World Bank, while Swan attends US think-tank talkfests of no consequence. In short, Costello is one of the best Treasurers in the country, if not the world, whereas Swan will contend with a legacy of incompetence, ineptitude, debt and reckless spending.

Swan got us through a huge economic downturn - Costello helped to cause it?

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St George of the Garden

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #35 - Mar 27^th, 2014 at 5:33pm

Costello and Howard fed a credit-fuelled real estate boom. Then came GFC. Suddenly people realised they had sky high credit card bills, mortgages etc and house values were no longer zooming up to provide more equity to borrow more against.

Suddenly people were saving, paying down debt, not confident. We were ripe for a huge recession like the UK, US, Europe—but we didn’t go into recession, thanks to Rudd & Swan etc.

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Kat

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #36 - Mar 27^th, 2014 at 5:41pm

Life_goes_on wrote on Mar 27^th, 2014 at 4:59pm:

mantra wrote on Mar 27^th, 2014 at 12:34pm:

I caught a bit of Hockey being questioned in Parliament about the doubling of the federal debt so early into the Coalition's leadership and instead of answering the question - he turned it into an attack on Swan. It was nasty.

If anyone can remember - there was a $70 billion blackhole in the Coalition's pre-election budget. No-one had a clue where the money was to come from, but it appears to be a lot more.

Hockey refuses to explain how they've spent this $200 billion in six months. Attack to distract is the Coalition doctrine.

Hockey has always been a buffoon. Since getting in, he's a nasty buffoon.

I had to turn it off, can't abide that ignorant, incompetent fool of a man.

He, unlike Swann, truly IS a bad choice as Treasurer.

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Kat

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #37 - Mar 27^th, 2014 at 5:44pm

St George of the Garden wrote on Mar 27^th, 2014 at 5:33pm:

Costello and Howard fed a credit-fuelled real estate boom. Then came GFC. Suddenly people realised they had sky high credit card bills, mortgages etc and house values were no longer zooming up to provide more equity to borrow more against.

Suddenly people were saving, paying down debt, not confident. We were ripe for a huge recession like the UK, US, Europe—but we didn’t go into recession, thanks to Rudd & Swan etc.

And yet the Right despise them for it.

Something seriously wrong with the way conservatives think...

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St George of the Garden Gold Member Offline http://tinyurl.com/n 3o8m2x Posts: 9809 Gender:	Re: Australia's worst-ever Treasurer joins US talkfest Reply #38 - Mar 27^th, 2014 at 5:50pm If you want insomnia—imagine Howard & Costello winning in 2007 and having to face the GFC. Trillion dollar debt by 2010! 12% unemployment, dollar US50¢ on a good day so inflation rife, interest rates high.
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St George of the Garden

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #39 - Mar 27^th, 2014 at 5:56pm

Kat wrote on Mar 27^th, 2014 at 5:44pm:

St George of the Garden wrote on Mar 27^th, 2014 at 5:33pm:

Costello and Howard fed a credit-fuelled real estate boom. Then came GFC. Suddenly people realised they had sky high credit card bills, mortgages etc and house values were no longer zooming up to provide more equity to borrow more against.

Suddenly people were saving, paying down debt, not confident. We were ripe for a huge recession like the UK, US, Europe—but we didn’t go into recession, thanks to Rudd & Swan etc.

And yet the Right despise them for it.

Something seriously wrong with the way conservatives think...

If Hokey hands down the sort of Budget I think he will—we will finally be in recession.

As people lose their jobs they stop paying tax and start drawing unemployment benefits. Businesses stop paying tax and company tax, thanks to idiot Costello, is now a major part of total tax revenue. Result—recession, high unemployment, increased deficits.

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fezz

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #40 - Mar 27^th, 2014 at 5:56pm

For those with their heads up their proverbials, still in denial about Swan's successful economic management through the GFC should come out and take a deep breath of fresh air instead of fueling themselves on Hockey's stench of sh!te.

Have any of you actually spent large amounts of time overseas since the GFC, enough time to actually read a newspaper and get a feel for foreign current affairs from the horses mouth. Do you realise how the rest of the world viewed, and still does view Swan's legacy? You won't get an honest word out of ol mate Joe or that Murder of Murdoch's picking at the diminishing carcass of what was once a workable economy in tough economic times.

Some perspective: the nay sayers will have to stretch themselves here to view these links, I know it's hard viewing things that may burst sensitive bubbles. (I can't post direct links yet, newbie and all that - figured this was a good place to start)

independentaustralia.net/politics/politics-display/australia-tops-the-iarem-worl
ds-best-economy,6279

independentaustralia.net/politics/politics-display/the-worlds-best-economy-part-
two-winners-and-losers-through-the-gfc,6304

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« Last Edit: Mar 27^th, 2014 at 6:03pm by fezz »

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Lobo

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #41 - Mar 27^th, 2014 at 6:14pm

fezz wrote on Mar 27^th, 2014 at 5:56pm:

For those with their heads up their proverbials, still in denial about Swan's successful economic management through the GFC should come out and take a deep breath of fresh air instead of fueling themselves on Hockey's stench of sh!te.

Have any of you actually spent large amounts of time overseas since the GFC, enough time to actually read a newspaper and get a feel for foreign current affairs from the horses mouth. Do you realise how the rest of the world viewed, and still does view Swan's legacy? You won't get an honest word out of ol mate Joe or that Murder of Murdoch's picking at the diminishing carcass of what was once a workable economy in tough economic times.

Some perspective: the nay sayers will have to stretch themselves here to view these links, I know it's hard viewing things that may burst sensitive bubbles. (I can't post direct links yet, newbie and all that - figured this was a good place to start)

independentaustralia.net/politics/politics-display/australia-tops-the-iarem-worl...

independentaustralia.net/politics/politics-display/the-worlds-best-economy-part-...

Fixed, fez.....

Wink

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fezz Senior Member Offline Where's my red hat? Posts: 280 Gender:	Re: Australia's worst-ever Treasurer joins US talkfest Reply #42 - Mar 27^th, 2014 at 6:21pm Lobo wrote on Mar 27^th, 2014 at 6:14pm: Fixed, fez..... thanks froggie
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red baron

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Re: Australia's worst-ever Treasurer joins US talkfest
Reply #43 - Mar 27^th, 2014 at 6:25pm

Wow Fez! What a fantastic first post.

Now you really have got all our attention with your extensive travels of the world.

Perhaps you could enlighten us with your own slant on the world's greatest treasurer Wayne Swann.

Brother I can't wait to hear it in your words, much better than reading some vague link. Cool

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red baron Gold Member Offline Australian Politics Posts: 10204 Blue Mountains Gender:	Re: Australia's worst-ever Treasurer joins US talkfest Reply #44 - Mar 27^th, 2014 at 6:25pm bump
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