Australian Politics Forum - Bankrupt Victoria

Sophia Gold Member Offline Posts: 8569	Re: Bankrupt Victoria Reply #120 - May 9^th, 2024 at 1:16pm ***
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Bobby.

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Re: Bankrupt Victoria
Reply #121 - May 9^th, 2024 at 1:37pm

thegreatdivide wrote on May 8^th, 2024 at 3:00pm:

Sophia wrote on May 8^th, 2024 at 2:43pm:

Glad we both see eye to eye RE: tax instalments should be have any interest but even half what they do charge is better than 12%

Re: our Vic infrastructure… it became obvious our guvment ran out of money 2 months ago when all machinery were removed from that nightmare roundabout… and no works in progress since,
Hubby was in the money when he said back then…”they ran out of money”

Looks like we are stuffed then. Catch 22.

In our travels, we note Qld is doing so well with their continual road works, it’s enviable.

Our debt in Vic is so high, I wish I knew where it was all spent.
I said loooong ago… the mothers club should run the finances in our state.

I see I can't expect any ideas from you re funding infrastructure in "bankrupt" Victoria - you are happy to go with the mother's club instead....

Try telling hubby the Federal govenment can't run out of Australian dollars**, because the Oz treasury (+CB) is the only legal issuer of them (the only legal institution in the world to issue Oz dollars - apart from private banks in Oz, another story).

** and hence it can deal with Vic debt.

Poor Bobby proudly sports his ignorance of the nature of money, perhaps hubby has a more sophisticated awareness...

https://www.youtube.com/watch?v=3HRgsYSLOYw&t=90s

Thanks a lot - that YouTube video links to a movie
which is a dangerous website. Roll Eyes

Norton.
Quote:

Dangerous Web Page Blocked
You attempted to access
https://playseriesnow.com/registration?theme=m-2-toroWLX
This is a known dangerous webpage. It is highly recommended that you do NOT visit this page.
Visit
Norton
to learn more about phishing and internet security.

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Bobby. Gold Member Online Australian Politics Posts: 105964 Melbourne Gender:	Re: Bankrupt Victoria Reply #122 - May 9^th, 2024 at 1:38pm flip
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thegreatdivide

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Re: Bankrupt Victoria - Labor can't manage money
Reply #123 - May 9^th, 2024 at 2:54pm

Bobby. wrote on May 8^th, 2024 at 7:10pm:

thegreatdivide wrote on May 8^th, 2024 at 7:07pm:

Bobby. wrote on May 8^th, 2024 at 5:53pm:

thegreatdivide wrote on May 8^th, 2024 at 5:23pm:

Bobby. wrote on May 8^th, 2024 at 5:06pm:

You know what pisses me off?

the RBA carrying on about -

ohh we have to raise interest rates because inflation is out of control.

Not once did they ever come out and apologise for the inflation
by admitting they printed all the funny money that caused it.

It's their fault.

Poor Bobby, prouldly sporting his ignorance of the nature of money, which is always created out of thin air, whether by governments or private banks so authorized.

Price controls, and rationing when supply fails, will fix inflation. And CB's should be demoted to the role of clearing service for private banks, in a permanent near zero interest-rate scenario.

Our central bank - the RBA printed $1.2 trillion. Shocked

Australian debt clock:

https://australiandebtclock.com.au/

Who owns that debt, bobby?

You are missing the point.
people's savings are turned into toilet paper:

Wrong on both counts:

Who owns the debt IS the point.

And peoples' savings are only "turned into toilet paper" under hyperinflation, inflation in Oz can be offset by a 4-5% term deposit if you have savings.

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« Last Edit: May 9^th, 2024 at 3:04pm by thegreatdivide »

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Bobby.

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Re: Bankrupt Victoria - Labor can't manage money
Reply #124 - May 9^th, 2024 at 3:01pm

thegreatdivide wrote on May 9^th, 2024 at 2:54pm:

Wrong on both counts:

Who owns the debt IS the point.

And peoples' savings are only "turned into toilet paper in hyperinflation", inflation is Oz can be offset by a 4-5% term deposit.

Bullshit - for housing, inflation was as high as 20% per annum and even more.

Have you seen the prices in the supermarket lately?
In the last year many prices are up between 50% and 250%.

Also - you pay taxes on deposit interest in the bank -
you can't claim for inflation.

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thegreatdivide Gold Member Online Australian Politics<br /> Posts: 13025 Gender:	Re: Bankrupt Victoria Reply #125 - May 9^th, 2024 at 3:01pm Bobby. wrote on May 9^th, 2024 at 1:37pm: Thanks a lot - that YouTube video links to a movie which is a dangerous website. ?? The link to the youtube movie works well here. Nothing "dangerous" about it. Maybe Norton is drumming up business (I already have good internet protection).
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Bobby.

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Re: Bankrupt Victoria
Reply #126 - May 9^th, 2024 at 3:07pm

thegreatdivide wrote on May 9^th, 2024 at 3:01pm:

Bobby. wrote on May 9^th, 2024 at 1:37pm:

Thanks a lot - that YouTube video links to a movie
which is a dangerous website. Roll Eyes

??

The link to the youtube movie works well here.

Nothing "dangerous" about it. Maybe Norton is drumming up business (I already have good internet protection).

I'm not about to go against the advice of Norton.
What anti-virus are you using?

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thegreatdivide

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Re: Bankrupt Victoria - Labor can't manage money
Reply #127 - May 9^th, 2024 at 3:11pm

Bobby. wrote on May 9^th, 2024 at 3:01pm:

thegreatdivide wrote on May 9^th, 2024 at 2:54pm:

Wrong on both counts:

Who owns the debt IS the point.

And peoples' savings are only "turned into toilet paper in hyperinflation", inflation is Oz can be offset by a 4-5% term deposit.

Bullshit -

Wrong again; who owns the government's debt IS the issue.

Quote:

for housing, inflation was as high as 20% per annum and even more.

Now you are talking about private sector (housing) debt, not government debt. Do try to keep up.

Quote:

Have you seen the prices in the supermarket lately?
In the last year many prices are up between 50% and 250%.

Still off topic - refer to the thread's title.

Quote:

Also - you pay taxes on deposit interest in the bank - you can't claim for inflation.

How high is your tax rate?

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thegreatdivide

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Re: Bankrupt Victoria
Reply #128 - May 9^th, 2024 at 3:13pm

Bobby. wrote on May 9^th, 2024 at 3:07pm:

thegreatdivide wrote on May 9^th, 2024 at 3:01pm:

Bobby. wrote on May 9^th, 2024 at 1:37pm:

Thanks a lot - that YouTube video links to a movie
which is a dangerous website. Roll Eyes

??

The link to the youtube movie works well here.

Nothing "dangerous" about it. Maybe Norton is drumming up business (I already have good internet protection).

I'm not about to go against the advice of Norton.
What anti-virus are you using?

Norton.

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Bobby.

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Re: Bankrupt Victoria
Reply #129 - May 9^th, 2024 at 3:15pm

thegreatdivide wrote on May 9^th, 2024 at 3:13pm:

Bobby. wrote on May 9^th, 2024 at 3:07pm:

thegreatdivide wrote on May 9^th, 2024 at 3:01pm:

Bobby. wrote on May 9^th, 2024 at 1:37pm:

Thanks a lot - that YouTube video links to a movie
which is a dangerous website. Roll Eyes

??

The link to the youtube movie works well here.

Nothing "dangerous" about it. Maybe Norton is drumming up business (I already have good internet protection).

I'm not about to go against the advice of Norton.
What anti-virus are you using?

Norton.

How come your Norton has different advice to my Norton?

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Bobby.

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Re: Bankrupt Victoria - Labor can't manage money
Reply #130 - May 9^th, 2024 at 3:19pm

thegreatdivide wrote on May 9^th, 2024 at 3:11pm:

Bobby. wrote on May 9^th, 2024 at 3:01pm:

thegreatdivide wrote on May 9^th, 2024 at 2:54pm:

Wrong on both counts:

Who owns the debt IS the point.

And peoples' savings are only "turned into toilet paper in hyperinflation", inflation is Oz can be offset by a 4-5% term deposit.

Bullshit -

Wrong again; who owns the government's debt IS the issue.

Quote:

for housing, inflation was as high as 20% per annum and even more.

Now you are talking about private sector (housing) debt, not government debt. Do try to keep up.

Quote:

Have you seen the prices in the supermarket lately?
In the last year many prices are up between 50% and 250%.

Still off topic - refer to the thread's title.

Quote:

Also - you pay taxes on deposit interest in the bank - you can't claim for inflation.

How high is your tax rate?

That's all irrelevant.
Labor can't manage money -
they borrow insane amounts of money at the State level -
leading to appalling interest repayments - draining funds forever -

at the Federal level - they issue Govt Bonds and the RBA prints money to pay for them.
It leads to high inflation which is a terrible stress on everyone -
savings in the bank are destroyed.

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thegreatdivide

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Re: Bankrupt Victoria
Reply #131 - May 9^th, 2024 at 3:27pm

Bobby. wrote on May 9^th, 2024 at 3:15pm:

thegreatdivide wrote on May 9^th, 2024 at 3:13pm:

Bobby. wrote on May 9^th, 2024 at 3:07pm:

thegreatdivide wrote on May 9^th, 2024 at 3:01pm:

[quote author=bobbythebat1 link=1714798277/121#121 date=1715225837]
Thanks a lot - that YouTube video links to a movie
which is a dangerous website. Roll Eyes

??

The link to the youtube movie works well here.

Nothing "dangerous" about it. Maybe Norton is drumming up business (I already have good internet protection).

I'm not about to go against the advice of Norton.
What anti-virus are you using?

Norton.

Good question.

I was receiving those messages some time back, but not now.

I ignored them at the time; I guessed Lisa was probably trying to hack my account (which she claimed she would do, some time back - about the same time she disppeared from Oz Pol. ...).

Quote:

How come your Norton has different advice to my Norton?

See above. As for your "advice" - it's a mystery.

Ignore it, as I did.

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Bobby.

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Re: Bankrupt Victoria
Reply #132 - May 9^th, 2024 at 3:31pm

thegreatdivide wrote on May 9^th, 2024 at 3:27pm:

Bobby. wrote on May 9^th, 2024 at 3:15pm:

thegreatdivide wrote on May 9^th, 2024 at 3:13pm:

Bobby. wrote on May 9^th, 2024 at 3:07pm:

thegreatdivide wrote on May 9^th, 2024 at 3:01pm:

[quote author=bobbythebat1 link=1714798277/121#121 date=1715225837]
Thanks a lot - that YouTube video links to a movie
which is a dangerous website. Roll Eyes

??

The link to the youtube movie works well here.

Nothing "dangerous" about it. Maybe Norton is drumming up business (I already have good internet protection).

I'm not about to go against the advice of Norton.
What anti-virus are you using?

Norton.

Good question.

I was receiving those messages some time back, but not now.

I ignored them at the time; I guessed Lisa was probably trying to hack my account (which she claimed she would do, some time back - about the same time she disppeared from Oz Pol. ...).

Quote:

How come your Norton has different advice to my Norton?

See above. As for your "advice" - it's a mystery.

Ignore it, as I did.

Don't ignore it.
You'll get malware or a Trojan horse or a virus.

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thegreatdivide

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Re: Bankrupt Victoria - Labor can't manage money
Reply #133 - May 9^th, 2024 at 3:40pm

Bobby. wrote on May 9^th, 2024 at 3:19pm:

thegreatdivide wrote on May 9^th, 2024 at 3:11pm:

Bobby. wrote on May 9^th, 2024 at 3:01pm:

thegreatdivide wrote on May 9^th, 2024 at 2:54pm:

Wrong on both counts:

Who owns the debt IS the point.

And peoples' savings are only "turned into toilet paper in hyperinflation", inflation is Oz can be offset by a 4-5% term deposit.

Bullshit -

Wrong again; who owns the government's debt IS the issue.

Quote:

for housing, inflation was as high as 20% per annum and even more.

Now you are talking about private sector (housing) debt, not government debt. Do try to keep up.

Quote:

Have you seen the prices in the supermarket lately?
In the last year many prices are up between 50% and 250%.

Still off topic - refer to the thread's title.

Quote:

Also - you pay taxes on deposit interest in the bank - you can't claim for inflation.

How high is your tax rate?

That's all irrelevant.

No it's not, "bankrupt Vic" --- government debt --- not private debt.

Quote:

Labor can't manage money -
they borrow insane amounts of money at the State level -
leading to appalling interest repayments - draining funds forever -

Both sides are signed up to 'balanced government budget' mythology, Labor are more likely to favour the working class, within that false constraint of government debt.

Quote:

at the Federal level - they issue Govt Bonds and the RBA prints money to pay for them.
It leads to high inflation which is a terrible stress on everyone -
savings in the bank are destroyed.

It doesn't lead to inflation, because the bond-holders' money is tied up in the bonds.

Ofcouse, private sector (and public sector) spending - beyond the economy's productive capacity - causes inflation.

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« Last Edit: May 9^th, 2024 at 3:50pm by thegreatdivide »

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thegreatdivide

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Re: Bankrupt Victoria
Reply #134 - May 9^th, 2024 at 3:45pm

Bobby. wrote on May 9^th, 2024 at 3:31pm:

thegreatdivide wrote on May 9^th, 2024 at 3:27pm:

Bobby. wrote on May 9^th, 2024 at 3:15pm:

thegreatdivide wrote on May 9^th, 2024 at 3:13pm:

Bobby. wrote on May 9^th, 2024 at 3:07pm:

thegreatdivide wrote on May 9^th, 2024 at 3:01pm:

[quote author=bobbythebat1 link=1714798277/121#121 date=1715225837]
Thanks a lot - that YouTube video links to a movie
which is a dangerous website. Roll Eyes

??

The link to the youtube movie works well here.

Nothing "dangerous" about it. Maybe Norton is drumming up business (I already have good internet protection).

I'm not about to go against the advice of Norton.
What anti-virus are you using?

Norton.

Good question.

I was receiving those messages some time back, but not now.

I ignored them at the time; I guessed Lisa was probably trying to hack my account (which she claimed she would do, some time back - about the same time she disppeared from Oz Pol. ...).

Quote:

How come your Norton has different advice to my Norton?

See above. As for your "advice" - it's a mystery.

Ignore it, as I did.

Don't ignore it.
You'll get malware or a Trojan horse or a virus.

I'm a Norton subscriber - no prblems in more than a year (though I'm hyper-aware of email scams).

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