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4th February 2013 02:19 PM
#101
Senior Member
Major Winner
Originally Posted by
wbennett
So Blakey, was there ever a global financial crisis?
Yep, but we were largely shielded from it due to the good governance of Bob Hawke, Paul Keating, John Howard & Peter Costello.
Unfortunately, our economy will suffer longer term effects as a result of actions taken by Rudd, Swan & Gillard that they liked to use the GFC to justify.
Moe Norman
Ping G30 9* | Wilson Staff Tour F5 15* | Ping G20 20** | Ping i3 Blades 3-PW | Ping Tour 54.12 & 60.08| Yes! Marilyn
"I had played so poorly recently, I started thinking that maybe I should do something else. Then I saw my friends going to work every day and realised that my life wasn't so bad." -Steve Pate
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4th February 2013 09:09 PM
#102
Senior Member
Touring Pro (European Tour)
Originally Posted by
markTHEblake
Praising the Gillard governments economic management might be the same as praising Ricky Pontings captaincy.
Any numpty would have won all those test matches with McGrath and Warne in the team.
An open invitation for Joe Hockey to do better
http://www.marketeconomics.com.au/23...rer-in-waiting
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4th February 2013 09:14 PM
#103
Senior Member
Multiple Major Winner
Originally Posted by
PerryGroves
Pffft, a bloody Economist, what would he know. Useless as the proverbial. I once asked a very senior Economist did they ever get held to account for their forecasts, he thought it was a silly question and didn't get my point.
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5th February 2013 07:20 AM
#104
Victorious Confederate Captain
Order of Merit winner
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5th February 2013 08:28 AM
#105
Senior Member
Touring Pro (PGA)
I normally follow the off-shoot of the Sydney Morning Herald ... The National Times. Katherine Murphy keeps a keen eye on everything and updates all day.
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5th February 2013 09:07 AM
#106
Senior Member
Touring Pro (European Tour)
Originally Posted by
Daves
Pffft, a bloody Economist, what would he know. Useless as the proverbial. I once asked a very senior Economist did they ever get held to account for their forecasts, he thought it was a silly question and didn't get my point.
Daves, you know my view on the dismal scientists. USELESS. I have challenged a few of them at work to make money from their guesstimates, only one took me up, had to sack him 3 months in, they get wedded to a view even when the evidence and price is telling them otherwise. Have the problem of a lot of guys who trade, they think they are smarter than the market.
I do however like this little challenge on the basis that (deficit apart), and after what we have been through, you can't dream up a better set of numbers for Australia. I understand people are doing it tough or their version there of and probably the "good" is not reflected in all areas however low inflation/low unemployment is a great result.
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5th February 2013 09:49 AM
#107
Senior Member
Multiple Major Winner
Originally Posted by
PerryGroves
Daves, you know my view on the dismal scientists. USELESS. I have challenged a few of them at work to make money from their guesstimates, only one took me up, had to sack him 3 months in, they get wedded to a view even when the evidence and price is telling them otherwise. Have the problem of a lot of guys who trade, they think they are smarter than the market.
I do however like this little challenge on the basis that (deficit apart), and after what we have been through, you can't dream up a better set of numbers for Australia. I understand people are doing it tough or their version there of and probably the "good" is not reflected in all areas however low inflation/low unemployment is a great result.
I don't have a problem with a challenge, what you measure is the issue I would suggest, and over what period. Nothing worse than short term focussed financial management with no long term goals/targets.
The other question is how long does it take to stuff up the perfect economy, and how long can you keep raiding the lolly jar? Very little public gross debt ($58bn) in 2007/8, and a Negative net debt position, to now at $244B and forecast to climb through $300 bn.
http://en.wikipedia.org/wiki/Australian_national_debt
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5th February 2013 09:59 AM
#108
Admin Team
Golf Hall of Fame Inductee
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5th February 2013 12:50 PM
#109
Victorious Confederate Captain
Order of Merit winner
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5th February 2013 01:51 PM
#110
Senior Member
Golf Hall of Fame Inductee
Originally Posted by
PeteyD
Someone has to pay eventually. Where does the government get money to do that ...
Helicopters. Regardless of how nicely we are doing, it is still a house of cards.
--
Criticism doesn't bother me, as it means I am doing something and people are watching.
Handy-Cap
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5th February 2013 01:57 PM
#111
Senior Member
Major Winner
Originally Posted by
wbennett
Australia has 23% Government debt as GDP. It sounds terrible, until you look at the rest of the world. I did not hen-peck figures, just took some of the countries I thought Australia was alike, some trading partners and other 'World Leader' economies.
US has 103%
UK - 82%
Canada - 85%
Japan - 229%
NZ - 37%
France - 86%
Germany - 82
So lets look at other Exporting Countries - Argentina, South Africa, Brazil
Argentina - 44%
South Africa - 38%
Brazil - 66%
China - 25%
Source:
http://en.wikipedia.org/wiki/List_of...by_public_debt
Price of fish in China?
5 of those economies are royally f#cked in the arse.
A better exercise would be to compare debt as a % of GDP pre and post GFC and see who made the biggest change, and then wonder why...
Moe Norman
Ping G30 9* | Wilson Staff Tour F5 15* | Ping G20 20** | Ping i3 Blades 3-PW | Ping Tour 54.12 & 60.08| Yes! Marilyn
"I had played so poorly recently, I started thinking that maybe I should do something else. Then I saw my friends going to work every day and realised that my life wasn't so bad." -Steve Pate
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5th February 2013 02:05 PM
#112
Victorious Confederate Captain
Order of Merit winner
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13th February 2013 09:57 AM
#113
Senior Member
Touring Pro (PGA)
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21st March 2013 01:54 PM
#114
Senior Member
Touring Pro (PGA)
Question Time today... starting in 5 minutes ... should be a hoot.
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21st March 2013 02:06 PM
#115
Senior Member
Touring Pro (PGA)
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21st March 2013 02:12 PM
#116
Senior Member
Touring Pro (PGA)
No Confidence Motion ... I would have given it to her ... then done it at the end ...
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21st March 2013 02:14 PM
#117
Senior Member
Touring Pro (PGA)
The Coalition are very quiet ... making sure none of them get removed for mouthing off ...
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21st March 2013 02:22 PM
#118
Senior Member
Touring Pro (PGA)
Geebus ... the server for the live link may have crashed ...
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21st March 2013 02:23 PM
#119
Senior Member
Touring Pro (PGA)
It is live on all FTA stations
Sometimes when I think of you I touch myself..........
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21st March 2013 02:39 PM
#120
Senior Member
Touring Pro (PGA)
I dont have a tv at work. its back though ...
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21st March 2013 02:54 PM
#121
Senior Member
Grand Slam Winner
It's a shame the mods closed the How many beers would it take to do Julia Gillard thread. It looks like a few guys will be doing her over in a couple of hours.
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21st March 2013 02:55 PM
#122
Senior Member
Touring Pro (PGA)
Joe Hockey is abolutely killing em ... classic stuff ...
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21st March 2013 03:14 PM
#123
Senior Member
Touring Pro (Japanese Tour)
Originally Posted by
sms316
It's a shame the mods closed the How many beers would it take to do Julia Gillard thread. It looks like a few guys will be doing her over in a couple of hours.
A fleet of CUB trucks heading towards the National capital, reported as "one of the largest convoys of it's type" as per local media.
Looks like we know where Julia's ankles will be spending the evening.
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21st March 2013 04:52 PM
#124
Senior Member
Multiple Major Winner
No one wants to sup from the poisoned Chalice.
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21st March 2013 05:25 PM
#125
Senior Member
Major Winner
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