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Thank you Beej.... finally, someone who is able to make an educated response in this forum!
Absolutely not in his own eyes. On the contrary he loves every minute of it.
If ever there was an example of someone who believes his own bull****, it's the Ruddmeister.
Do you think they are attempting to stimulate the economy with these dumb cash handouts which will provide a small tick upwards in the quarterly figures in terms of retail sales, or could they just be looking after their voter base?
You seem like a Labor fan in which case you will only see what you want to.
There is one view that it would be sensible to let the unviable businesses fail, e.g. how much of taxpayer funds have repeatedly been channelled into propping up the unprofitable car industry?
Well, the Libs wouldn't have been borrowing money to give to people to buy plasmas, go to the pub etc.
Yes they would be borrowing, but would have spent on worthwhile infrastructure to offer Australia a long term benefit. What long term benefit occurs for the country from all the dollars that have gone on rubbish?
Maybe just find out what does happen before you start being so derisive about criticism, jono.
The estate of the deceased will process and bank these cheques.
How is that stimulating the economy, huh?
I agree Smurf. What a waste! Filling in the potholes would have a much better
effect for the country.
You wonder why these politicians invent things like a "future" fund.
Howard did some things to improve infrastructure but certainly not enough to
expand port capacity.
Looks like Rudd is doing the same.
By the way if your such a great economist you'd understand that speeding up infrastructure projects is a better way to stimulate economies during a recession rather than cash handouts.
Thats a big call mate....
I see plenty of educated responses on various topics every day on this forum.
Sure you don't want to retract that?
Perhaps it is you guys that need the greater education before you start questioning my economics major... like i said in my previous post, get more education before you blame the govt for everything!
jono1887 said:Perhaps it is you guys that need the greater education before you start questioning my economics major... like i said in my previous post, get more education before you blame the govt for everything!
If you were such a great economist you might understand that major infrastructure projects can take up to 2 years to get going from the decision to spend some money on something, due to the need for project definition, tender process, then actual ramp up, design/construction etc. And the thing with trying to fiscally stimulate an economy in a downturn is you are meant to hit the stimulus FAST initially - the earlier in the downturn cycle the better, hence the cash payments.
one key work you overlooked speeding up infastructure projects
Anyway as pointed out by Ross Gittins in the article I posted on the first page of this thread( http://business.smh.com.au/business/stimulus-strategy-sorted-down-to-a-t-20090529-bq7g.html?page=-1 ), there are 3 prongs to the government stimulus. The first was the 2 rounds of cash payments ($22B), the second was "shovel ready" capital works projects that could get underway quickly (new school buildings, non major roadworks, home insulation etc) - this is about another $23B odd. The third round ARE the major infrastructure projects you are on about - rail, road, ports, datacomms etc - the spending there is about another $21B+.
So each prong of stimulus is roughly one third of the total spend of $67B, and designed to occur immediately at first and then run for the next 4 years due to the longer term infrastructure projects.
So if you are going to criticise a governments actions at least understand properly what they actually are!
Beej
http://www.abc.net.au/news/stories/2009/04/23/2551275.htm
Below in red is a quote from a QUALIFIED economist argue with that someone who KNOWS MORE THAN YOU
The Federal Government has spent just under $21 billion on cash handouts as part of its two economic stimulus packages.
But the IMF's chief economist, Olivier Blanchard, has told ABC1's 7:30 Report that speeding up infrastructure projects is a better way to stimulate economies during a recession.
:
notice the article also states - "Typically with these type of measures, is that it takes so long to actually get them going that by the time you put them in place, the recession is gone,"
but Rudd has still placed 2/3 of his stimulus package into those measures... but by giving out the cash handouts, its an instant boost into the economy
The article also states you overlooked a key word speeding up
Wasn't the majority of payments SAVED :bonk: yeh that will stimulate
I think by looking at the retail figures for the quarter after that last cash handout, its more than obvious that a large proportion was spent:
I think by looking at the retail figures for the quarter after that last cash handout, its more than obvious that a large proportion was spent:
I think by looking at the retail figures for the quarter after that last cash handout, its more than obvious that a large proportion was spent:
I think by looking at the retail figures for the quarter after that last cash handout, its more than obvious that a large proportion was spent:
I think by looking at the retail figures for the quarter after that last cash handout, its more than obvious that a large proportion was spent:
Have a look at the mess the NSW state was in PRIOR to the economic meltdown do you honestly still believe they are qualified to run this nation you guys are fools who sell themselves to the devil.
The only people i know that vote for labor are dole bludgers who don't want to work and get this country going.
The labor government has now changed salary sacrificing laws so that any salary sacrificing into super will now be included as income tax?
How can you do that to HARD WORKING people that are doing the right thing to try to create themselves a life that when they retire they do not depend on the on the government. HARD WORKING PEOPLE ALWAYS come under the hammer with labor.
Labor creates a life for people with no incentive to work hard.
Liberals had unemployment at record lows labor had unemployment in the 90s reccession at 10-11% plus a 96 billion debt level. I had to see both of your financial situations Jono and Beej if you think debts and high unemployment levels are the way to go, you guys are kidding yourselves.
YOU Beej you were around when interest rates were 18% in the 90s how someone can go through that and not learn is beyond me you really (i'm sorry for the insult there is really no other better word) are a fool
30 minutes where are the figures?
Remember the announcement in the Budget that contributions to Super would be limited to, I think, half the amount it's been to date? And the Henry review is considering raising the preservation age to 67 in line with the increased pension eligibility age.
I'm sorry if i dont wait around on these forums for a reply... i do have other stuff to do... but here there are -
"Consumers spent a record $19.3 billion in March when the government started rolling out billions of dollars in its second round of cash handouts.
This was a seasonally adjusted 2.2 per cent increase in spending compared to February, and much stronger than the 0.5 per cent increase forecast by economists"
"Australian Bureau of Statistics figures during the week put the jump in overall retail sales for December compared with a month earlier at 3.8 per cent. The strongest performers were household goods (up 9.9 per cent), department stores (up 8.3 per cent) and clothing and manchester (up 5.8 per cent)."
http://www.sbs.com.au/news/article/1017438/Retail-rises-'thanks-to-stimulus-package'
http://business.theage.com.au/busin...package-sets-tills-ringing-20090206-800l.html
happy now?
How about a comparison with December in previous years (adjusted for inflation of course)? Wouldn't the retail sales level have been higher in December than November anyway, due to people buying Christmas gifts?I
"Australian Bureau of Statistics figures during the week put the jump in overall retail sales for December compared with a month earlier at 3.8 per cent. The strongest performers were household goods (up 9.9 per cent), department stores (up 8.3 per cent) and clothing and manchester (up 5.8 per cent)."
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