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  1. #101

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    Quote Originally Posted by wbennett View Post
    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

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  2. #102
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    Quote Originally Posted by markTHEblake View Post
    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

  3. #103
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    Quote Originally Posted by PerryGroves View Post
    An open invitation for Joe Hockey to do better

    http://www.marketeconomics.com.au/23...rer-in-waiting
    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.

  4. #104
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    I follow the Kouk on Twitter. He was Gillards head economist is 2010 and 2011.

    I appreciate what he says but accept the very strong linkages he has with the Government.

    Chopperlink

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    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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  6. #106
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    Quote Originally Posted by Daves View Post
    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.

  7. #107
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    Quote Originally Posted by PerryGroves View Post
    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

  8. #108
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    Someone has to pay eventually. Where does the government get money to do that ...





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  9. #109
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    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

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  10. #110
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    Quote Originally Posted by PeteyD View Post
    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.
    --
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  11. #111

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    Quote Originally Posted by wbennett View Post
    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

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  12. #112
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    You can dig that up Moe - I don't have time right now!

    Norway has the largest budget surplus in the developed world and no debt. It also has the highest corporate tax rate in the world, a wealth tax, and a 78% tax on oil profits.
    The US and Greece have some of the lowest taxes and are royally f**ked to borrow your term. So what do you prefer?

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    http://www.smh.com.au/opinion/politi...213-2ebn2.html

    Sounds like a Monty Python Sketch....





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    Question Time today... starting in 5 minutes ... should be a hoot.





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    Good viewing....










    Sometimes when I think of you I touch myself..........

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    No Confidence Motion ... I would have given it to her ... then done it at the end ...





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    The Coalition are very quiet ... making sure none of them get removed for mouthing off ...





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  18. #118
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    Geebus ... the server for the live link may have crashed ...





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  19. #119
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    It is live on all FTA stations










    Sometimes when I think of you I touch myself..........

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    I dont have a tv at work. its back though ...





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  21. #121
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    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.
    Forum needs more banter.

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    Joe Hockey is abolutely killing em ... classic stuff ...





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  23. #123
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    Quote Originally Posted by sms316 View Post
    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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    No one wants to sup from the poisoned Chalice.

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