Australian Politics Forum - Crikey......remember this?

Swagman

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Crikey......remember this?
Apr 24^th, 2015 at 12:34pm

http://www.budget.gov.au/2006-07/overview/html/overview_06.htm

Quote:

The Government has eliminated net debt for the first time in 30 years.

This means that the Government is no longer a net borrower, and we can start to save for some of the big challenges of the future.

Australia is now amongst a small and select group of OECD countries that have eliminated net debt. The average net debt to GDP ratio in the OECD is around 48 per cent; for Australia it is below zero.

What happened next? The Ochlocrats dumped the Govt? Roll Eyes

This is the future. Thanks Labor. Sad

(..............and your ochlocratic comrade TPP supporters)

Sad

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Grappler Deep State Feller

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Re: Crikey......remember this?
Reply #1 - Apr 24^th, 2015 at 1:17pm

Old Mother Howard,
Went to the cupboard
To get a good loan on the phone
But he'd flogged off the farm
To the nation's great harm
And so he had nothing no phone to loan.

Old Mother Krudd
Took over the flood
Of GFCs right left and spare
So he dug in the pot
And pulled out a lot
And still had some credit to spare.

Now Abbott got in,
Which most think a sin,
And figured he'd revenue raise
But without that farm
His plans fell to harm,
And his neo-con plan's just a phase.

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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crocodile Gold Member Offline Australian Politics Posts: 6683 Gender:	Re: Crikey......remember this? Reply #2 - Apr 24^th, 2015 at 2:20pm Is there something really good about negative net debt.
Back to top	Very funny Scotty, now beam down my clothes. IP Logged

Grappler Deep State Feller

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Re: Crikey......remember this?
Reply #3 - Apr 24^th, 2015 at 2:52pm

Most households run in negative net debt... think it through... the issue becomes when and IF you are using the credit card to pay off your credit card bills....

Very hard to get FACTUAL data from government and agencies - they love to play politics instead of speaking with straight tongue.... and agencies are increasingly subject to City Hall - as are we all - becoming a cowed down lot of people who wait with trees down blocking our roads for help instead of getting out the chainsaw and the ropes and chains... hooking it up to the sports car and dragging it out of the way...

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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crocodile

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Re: Crikey......remember this?
Reply #4 - Apr 24^th, 2015 at 2:56pm

Grappler Deep State Feller wrote on Apr 24^th, 2015 at 2:52pm:

Most households run in negative net debt... think it through... the issue becomes when and IF you are using the credit card to pay off your credit card bills....

Very hard to get FACTUAL data from government and agencies - they love to play politics instead of speaking with straight tongue.... and agencies are increasingly subject to City Hall - as are we all - becoming a cowed down lot of people who wait with trees down blocking our roads for help instead of getting out the chainsaw and the ropes and chains... hooking it up to the sports car and dragging it out of the way...

Are you sure about that. I would have thought that most households would run a positive net debt.

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Very funny Scotty, now beam down my clothes.

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Swagman Gold Member Offline Beware of cheap imitations...... Posts: 15095 Illawarra NSW Gender:	Re: Crikey......remember this? Reply #5 - Apr 24^th, 2015 at 3:36pm crocodile wrote on Apr 24^th, 2015 at 2:20pm: Is there something really good about negative net debt. Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card...
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Kat

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Re: Crikey......remember this?
Reply #6 - Apr 24^th, 2015 at 3:57pm

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask

Kevin07. Spent like a blonde bimbo with her first Visa card.

..

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

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crocodile

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Re: Crikey......remember this?
Reply #7 - Apr 24^th, 2015 at 4:13pm

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask Kevin07. Spent like a blonde bimbo with her first Visa card... Grin

Was it really all that good. Since Aussie runs a consistent negative trade balance the only source of funding for the retirement of debt is by the sale of public assets or taking it from the private sector. The government had no net debt back then but only at the expense of an increasingly indebted private sector.

It really is quite an important point that goes unnoticed because our media darlings focus only on the government sector. Understand that it is the private sector that grows the economy not the government sector. Paying back debt that was actually quite manageable is not as rosy as it sounds.

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Very funny Scotty, now beam down my clothes.

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polite_gandalf

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Re: Crikey......remember this?
Reply #8 - Apr 24^th, 2015 at 4:57pm

Howard/Costello reduced debt by selling off valuable public assets and, most criminally of all, selling almost all our gold reserves at bargain basement prices. They then proceeded to slash income taxes - thereby creating the structural deficit hole we are in now. Fortunately for them though, we just happened to be riding the peak of the greatest mining boom the country has ever seen - and then pissed the proceeds of this once-in-a-lifetime bonanza on short sighted middle class welfare to win votes in western Sydney.

Yes indeed, labor are the economic vandals mmmkay Roll Eyes

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A resident Islam critic who claims to represent western values said:
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Outlawing the enemy's uniform - hijab, islamic beard - is not depriving one's own people of their freedoms.

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longweekend58

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Re: Crikey......remember this?
Reply #9 - Apr 24^th, 2015 at 5:21pm

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask

Kevin07. Spent like a blonde bimbo with her first Visa card.

..

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Its time

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Re: Crikey......remember this?
Reply #10 - Apr 24^th, 2015 at 5:21pm

polite_gandalf wrote on Apr 24^th, 2015 at 4:57pm:

Howard/Costello reduced debt by selling off valuable public assets and, most criminally of all, selling almost all our gold reserves at bargain basement prices. They then proceeded to slash income taxes - thereby creating the structural deficit hole we are in now. Fortunately for them though, we just happened to be riding the peak of the greatest mining boom the country has ever seen - and then pissed the proceeds of this once-in-a-lifetime bonanza on short sighted middle class welfare to win votes in western Sydney.

Yes indeed, labor are the economic vandals mmmkay Roll Eyes

I hope joe isnt reading this , there is a little bit of gold left in the vault .

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Its time

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Re: Crikey......remember this?
Reply #11 - Apr 24^th, 2015 at 5:22pm

longweekend58 wrote on Apr 24^th, 2015 at 5:21pm:

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask

Kevin07. Spent like a blonde bimbo with her first Visa card.

..

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

Probably number one now with the real economic vandals running things

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longweekend58

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Re: Crikey......remember this?
Reply #12 - Apr 24^th, 2015 at 5:23pm

polite_gandalf wrote on Apr 24^th, 2015 at 4:57pm:

Howard/Costello reduced debt by selling off valuable public assets and, most criminally of all, selling almost all our gold reserves at bargain basement prices. They then proceeded to slash income taxes - thereby creating the structural deficit hole we are in now. Fortunately for them though, we just happened to be riding the peak of the greatest mining boom the country has ever seen - and then pissed the proceeds of this once-in-a-lifetime bonanza on short sighted middle class welfare to win votes in western Sydney.

Yes indeed, labor are the economic vandals mmmkay Roll Eyes

get over yourself, retard. the gold issue was worth a few hundred million. Howard/Costello did almost everything right while Labor did almost everything wrong.

and how long are you jerks going to go on about those 'horrible' tax cuts, whil hypocritically supportin taxation indexation which would have resulted in the same thing?

you are a bit desperate and it shows.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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longweekend58

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Re: Crikey......remember this?
Reply #13 - Apr 24^th, 2015 at 5:24pm

Its time wrote on Apr 24^th, 2015 at 5:22pm:

longweekend58 wrote on Apr 24^th, 2015 at 5:21pm:

Kat wrote on Apr 24^th, 2015 at 3:57pm:

Swagman wrote on Apr 24^th, 2015 at 3:36pm:

crocodile wrote on Apr 24^th, 2015 at 2:20pm:

Is there something really good about negative net debt.

Having negative net debt at the onset of the GFC was something really good. Ask

Kevin07. Spent like a blonde bimbo with her first Visa card.

..

Experts the world over say otherwise.

I know who I'd be more inclined to believe.

well according to the IMP our rate of increase in debt was the third highest in the world. hardly a small problem.

Probably number one now with the real economic vandals running things

so you ACCEPT that labor increased the debt by the third largest rate of ANY COUNTRY in the world???

tell me again how that is good management!

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Ex Dame Pansi

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Re: Crikey......remember this?
Reply #14 - Apr 24^th, 2015 at 5:34pm

longweekend58 wrote on Apr 24^th, 2015 at 5:23pm:

polite_gandalf wrote on Apr 24^th, 2015 at 4:57pm:

Howard/Costello reduced debt by selling off valuable public assets and, most criminally of all, selling almost all our gold reserves at bargain basement prices. They then proceeded to slash income taxes - thereby creating the structural deficit hole we are in now. Fortunately for them though, we just happened to be riding the peak of the greatest mining boom the country has ever seen - and then pissed the proceeds of this once-in-a-lifetime bonanza on short sighted middle class welfare to win votes in western Sydney.

Yes indeed, labor are the economic vandals mmmkay Roll Eyes

get over yourself, retard. the gold issue was worth a few hundred million. Howard/Costello did almost everything right while Labor did almost everything wrong.

and how long are you jerks going to go on about those 'horrible' tax cuts, whil hypocritically supportin taxation indexation which would have resulted in the same thing?

you are a bit desperate and it shows.

Get over yourself, retard, the gold would have been valued at many billions of dollars in today's market, if we had have hung onto it.

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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....

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