Page 163 of 976 FirstFirst ... 63113153161162163164165173213263663 ... LastLast
Results 2,431 to 2,445 of 14629
Like Tree237Likes

Thread: The Australian politics thread

  1. #2431
    Cricket Spectator Moses's Avatar
    Join Date
    Jan 2007
    Location
    Sydney, Australia
    Posts
    11
    what a crock, this package isn't stimulating me at all. I want a new plasma too..

  2. #2432
    Cricket Web Owner James's Avatar
    Join Date
    Oct 2001
    Location
    Sydney, Australia
    Posts
    23,863
    How is this 42 billion going to be paid back?

    Perhaps this won't happen, but I'm presuming in a couple of years or so when things settle down, the government will increase taxes across the board to pay it back. Not something we obviously want.

  3. #2433
    International Vice-Captain Redbacks's Avatar
    Join Date
    Mar 2008
    Location
    NT
    Posts
    4,155
    If we are bringing some major 'nation building' infrastructure projects forward then maybe these were budgeted in by Labour (Labor) and we will gather the savings as the years move on and hopefully the financial situation settles down?

    Hopefully with a proper focus on the 'lessons learnt/technological innovation and research' side of the renewables and rail projects this can provide Australian companies with potential work in the Asian region.

  4. #2434
    Hall of Fame Member Son Of Coco's Avatar
    Join Date
    Aug 2004
    Location
    Brisbane, Australia
    Posts
    17,227
    Quote Originally Posted by James View Post
    How is this 42 billion going to be paid back?

    Perhaps this won't happen, but I'm presuming in a couple of years or so when things settle down, the government will increase taxes across the board to pay it back. Not something we obviously want.
    I'm not sure, but as was mentioned last night on the 7:30 report (and I'm not sure how reliable it is), certain major economic figures have encouraged governments to spend too much stimulating the economy rather than not enough, and to not delay...it was certainly something that, when put to Malcolm Turnbull, he couldn't really answer in a satisfactory manner and instead resorted to 'Yeah but...what Mr Rudd is doing is just wrong'.

    It seems that it's generally agreed the financial downturn could be a disaster for a number of countries worldwide...as I said before I'm not an economist, what other options do we have that would stimulate the economy to the degree necessary?
    "What is this what is this who is this guy shouting what is this going on in here?" - CP. (re: psxpro)

    R.I.P Craigos, you were a champion bloke. One of the best

    R.I.P Fardin 'Bob' Qayyumi

    Member of the Church of the Holy Glenn McGrath

    "How about you do something contstructive in this forum for once and not fill the forum with ****. You offer nothing." - theegyptian.


  5. #2435
    Cricket Web Staff Member Burgey's Avatar
    Join Date
    Aug 2006
    Location
    The Castle
    Posts
    41,442
    Quote Originally Posted by James View Post
    How is this 42 billion going to be paid back?

    Perhaps this won't happen, but I'm presuming in a couple of years or so when things settle down, the government will increase taxes across the board to pay it back. Not something we obviously want.
    But if they don't stimulate the economy, the fear is the downturn will be deeper and longer than it could have been.
    Quote Originally Posted by Redbacks View Post
    If we are bringing some major 'nation building' infrastructure projects forward then maybe these were budgeted in by Labour (Labor) and we will gather the savings as the years move on and hopefully the financial situation settles down?

    Hopefully with a proper focus on the 'lessons learnt/technological innovation and research' side of the renewables and rail projects this can provide Australian companies with potential work in the Asian region.
    Apparently there are such projects in the pipeline, but they're part odf some separate program. The idea here is to get a whle heap of smaller projects going asap so thee's activity in the economy. That way, even if there's only certain tradies doing the jobs from the governmnet, the idea (I think) is others will pick up the provate sector work those tradies would have been doing otherwise.
    Quote Originally Posted by Son Of Coco View Post
    I'm not sure, but as was mentioned last night on the 7:30 report (and I'm not sure how reliable it is), certain major economic figures have encouraged governments to spend too much stimulating the economy rather than not enough, and to not delay...it was certainly something that, when put to Malcolm Turnbull, he couldn't really answer in a satisfactory manner and instead resorted to 'Yeah but...what Mr Rudd is doing is just wrong'.

    It seems that it's generally agreed the financial downturn could be a disaster for a number of countries worldwide...as I said before I'm not an economist, what other options do we have that would stimulate the economy to the degree necessary?
    The bloke who said that was apparently the chief economist at the IMF.
    WWCC - Loyaulte Mi Lie
    "People make me happy.. not places.. people"

    "When a man is tired of London, he is tired of life." - Samuel Johnson

    "Hope is the fuel of progress and fear is the prison in which you put yourself" - Tony Benn

  6. #2436
    International Coach howardj's Avatar
    Join Date
    Nov 2003
    Location
    brisbane
    Posts
    12,813
    Nobody's saying do nothing. It's just the stimulatory bang you're going to get for your buck that is where the debate is. Arguably a smaller, better targetted package would be just as effective. As I say, the real disaster in a recession is unemployment. That is what should be the absolute focus. I think though what Rudd is trying to do, as would most politicians, is trying to massage the quarterly national accounts and ensure that they don't show two consecutive quarters of negative growth (a technical recession) - hence the indiscrimate handouts.

  7. #2437
    International Vice-Captain Redbacks's Avatar
    Join Date
    Mar 2008
    Location
    NT
    Posts
    4,155
    Rudd would be looking at the multiplier effect, if we spend our $950 we will create jobs as a result, and via GST give money indirectly to the states.

    This is a good example from wiki

    For example: a company spends $1 million to build a factory. The money does not disappear, but rather becomes wages to builders, revenue to suppliers etc. The builders will have higher disposable income as a result, so consumption, hence aggregate demand will rise as well. Suppose further all of the recipients of new factory spending in turn spend it. Thus by adding the times money changed hands in this example the multiplier is 2. One person's expense is another's income.

  8. #2438
    Global Moderator vic_orthdox's Avatar
    Join Date
    Nov 2004
    Location
    Melbourne, Australia
    Posts
    25,096
    Quote Originally Posted by James View Post
    How is this 42 billion going to be paid back?

    Perhaps this won't happen, but I'm presuming in a couple of years or so when things settle down, the government will increase taxes across the board to pay it back. Not something we obviously want.
    The $42 billion comes back when we enter another growth period and wages increase (hence increased inicome tax collections) and profit increases (hence increased business tax collections).

  9. #2439
    International Coach PhoenixFire's Avatar
    Curveball Champion!
    Join Date
    Sep 2006
    Location
    Bitch please, I'm from West Yorkshire
    Posts
    14,988
    And then after the growth, what happens when you (or we) hit another slump/recession?
    Quote Originally Posted by Top_Cat View Post
    1) Had double pneumonia as a kid, as did my twin sis. Doctors told my parents to pray that we lived through the night. Dad said **** off, I'm an atheist, you ****s better save my kids, etc. Then prayed anyway.

  10. #2440
    International Regular JBH001's Avatar
    Join Date
    Apr 2004
    Location
    New Zealand
    Posts
    3,245
    Never liked Rudd all that much, thought he was, and is, too much of a technocrat.

    But this stimulus package is something Australia can afford to do, especially if spent in the right way and in the right areas. Some pretty sensible work from Keating through to Costello and boom times since the 91/92 recession means that the government accounts are in better shape than all other western governments. IIRC the only issue is in Australia's private debt ratios to GDP which are pretty high, although not close to New Zealand's.

    We owe 90% of our GDP and we have been able to secure this level of credit flow due to the huge amounts of cerdit sloshing around, and also because our government accounts under the later National government of the 1990s and the Labour governments of the 2000s have generally been pretty good. This is not going to be the case for the foreseeable future. IIRC our public spending is due to rocket up to close to 40% of GDP from its current position at around 20% and will likely stay there in the foreseeable future. New Zealand's dependance on credit to pay for our living expenses is one reason why Bollard (head of the RBNZ), Whitehead (CEO of the Treasury), and English (Finance Minister) have been doing the rounds of financial capitals - pretty much begging that the credit flows not dry up too fast and that S and P maintain its AAA rating of our credit worthiness. Even so, our public accounts are likely to be better than most other western nations whose debt is going to go over the 50% mark and then some (the UK for instance, is toast, it really is only a matter of time for them, imo).

    That said, I do hope that Rudd and the Australian public dont think this stimulus package a way out of the onset of depression. There simply is not enough money to do that - it would be like farting into a storm. What it is going to do, I think, is make the inevitable adjustment softer and easier to bear in terms of both spending and employment figures. Frankly it is a good move as long as it is not made out to be more than what it is - a way to cushion a hard landing and negotiate a difficult period of adjustment. But to re-iterate the point, in no way will it avert the looming bad economic times for Australia.
    Last edited by JBH001; 05-02-2009 at 03:44 PM.

  11. #2441
    Cricket Web Staff Member Burgey's Avatar
    Join Date
    Aug 2006
    Location
    The Castle
    Posts
    41,442
    Quote Originally Posted by howardj View Post
    Nobody's saying do nothing. It's just the stimulatory bang you're going to get for your buck that is where the debate is. Arguably a smaller, better targetted package would be just as effective. As I say, the real disaster in a recession is unemployment. That is what should be the absolute focus. I think though what Rudd is trying to do, as would most politicians, is trying to massage the quarterly national accounts and ensure that they don't show two consecutive quarters of negative growth (a technical recession) - hence the indiscrimate handouts.
    Absolutely - it's always about the politics, no matter who's in power.

  12. #2442
    Hall of Fame Member Son Of Coco's Avatar
    Join Date
    Aug 2004
    Location
    Brisbane, Australia
    Posts
    17,227
    Quote Originally Posted by howardj View Post
    Nobody's saying do nothing. It's just the stimulatory bang you're going to get for your buck that is where the debate is. Arguably a smaller, better targetted package would be just as effective. As I say, the real disaster in a recession is unemployment. That is what should be the absolute focus. I think though what Rudd is trying to do, as would most politicians, is trying to massage the quarterly national accounts and ensure that they don't show two consecutive quarters of negative growth (a technical recession) - hence the indiscrimate handouts.
    I miss a lot of this being overseas, but what are Mr Turnbull's alternative ideas to doing this then? He didn't seem to have any the other night on the 7:30 report...but I'm sure something has been put forward as an alternative.

  13. #2443
    International Coach howardj's Avatar
    Join Date
    Nov 2003
    Location
    brisbane
    Posts
    12,813
    He wants the infrastructure money all redirected to Point Piper schools - expanding the polo fields etc.

  14. #2444
    Cricket Web Staff Member Burgey's Avatar
    Join Date
    Aug 2006
    Location
    The Castle
    Posts
    41,442
    Quote Originally Posted by howardj View Post
    He wants the infrastructure money all redirected to Point Piper schools - expanding the polo fields etc.
    Wants to go back to the old JH education grants - $800K to the wealthiest private schools, $5000 to each public HS. Seriously, what's the problem? More whinging by inadequate public school teachers for mine

  15. #2445
    Global Moderator vic_orthdox's Avatar
    Join Date
    Nov 2004
    Location
    Melbourne, Australia
    Posts
    25,096
    Quote Originally Posted by PhoenixFire View Post
    And then after the growth, what happens when you (or we) hit another slump/recession?
    That's the nature of the economic cycle though. Governments generate themselves surpluses during the good economic times, and use it to fund the extra spending required to stimulate the economy during the next contraction of the economy.



Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Australian Conditions - The Difference?
    By benchmark00 in forum Ashes 2006/07
    Replies: 7
    Last Post: 13-10-2006, 08:38 AM
  2. 2004/05 Australian domestic season thread
    By Craig in forum Cricket Chat
    Replies: 1116
    Last Post: 27-03-2005, 10:25 PM
  3. *Official* India in Australia Thread
    By Craig in forum Cricket Chat
    Replies: 2652
    Last Post: 08-01-2004, 07:00 PM
  4. South Australian Crickets Don Bradman Medal Night
    By Blewy in forum World Club Cricket
    Replies: 2
    Last Post: 14-10-2003, 05:07 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •