Australians are as gullibly stupid as Americans!

[Guest]

Whoa Whoa slow down on the brain washed Cult talk!!
All I can say now is this.....DEFICIT. POVERTY. Live it Breathe it coz you voted for it.

I didn't vote for it actually. I am not like yourself in supporting a political party as though it were a religion or rugby league team.


If we do go into deficit it won't just be because of Rudd's reckless spending. It will be largely because of the massive debt Howard/Costello government got Australian householders into which will eventually completely choke of spending and cause another major recession. And let's not forget their wonderfully irresponsible tax cuts in an already inflationary environment to further stimulate debt and inflation.

If the major recession doesn't eventuate in order to reverse the generational inequity created by the Howard government then I hope you have enough bedrooms in your house for your grand children to live in for the next few decades. It may take a few decades for you to realise how good you actually had it in the "bad old days" of higher interest rates.

[Guest]

What? Sorry to burst your bubble, but it wasn't Obama who through America into trillions of debt. It wasn't Obama who deregulated the banking industry that lead to the banking collapse the GFC and the need for a multi billion dollar bail out.

Get a clue.

Chook.

No, I didn't say that Barack Obama caused the trouble, I'm saying that not only is he doing nothing to fix the situation, he is implementing policies that will make things worse.

[Guest]

No, I didn't say that Barack Obama caused the trouble, I'm saying that not only is he doing nothing to fix the situation, he is implementing policies that will make things worse.

Fair enough then, I stand corrected.

Chook.

[melon....]

I didn't vote for it actually. I am not like yourself in supporting a political party as though it were a religion or rugby league team.


If we do go into deficit it won't just be because of Rudd's reckless spending. It will be largely because of the massive debt Howard/Costello government got Australian householders into which will eventually completely choke of spending and cause another major recession. And let's not forget their wonderfully irresponsible tax cuts in an already inflationary environment to further stimulate debt and inflation.

If the major recession doesn't eventuate in order to reverse the generational inequity created by the Howard government then I hope you have enough bedrooms in your house for your grand children to live in for the next few decades. It may take a few decades for you to realise how good you actually had it in the "bad old days" of higher interest rates.

Dude, Massive Australian personal debt started with Hawke and Keating. Hawke's beautiful capital gains tax offsets made it OK all of a sudden to borrow 110% for an investment property. Massive debt and erosion of things such as guaranteed deposits started with the old Union fart and his Undertaker.

[Guest]

Dude, Massive Australian personal debt started with Hawke and Keating. Hawke's beautiful capital gains tax offsets made it OK all of a sudden to borrow 110% for an investment property. Massive debt and erosion of things such as guaranteed deposits started with the old Union fart and his Undertaker.

Labor also had CGT incentives and the equivalent of First Home Buyers Grants in the 80s. However, this happened a time when the combination of high interest rates and tighter lending practices made it impossible to get massively into debt and certainly not put the entire economy at risk as the libs have managed to do.

You should do something the libs never bothered to do and look at the RBA debt statistics (http://www.rba.gov.au/statistics/tab...=0303-18:25:28). Note that debt to assets and debt to income was largely unchanged for 15 years and has almost tripled under the liberals tenure.

And whilst you are at it look at the affect on debt to GDP... oh but they got rid of government debt... give me a fn break.

[Guest]

Labor also had CGT incentives and the equivalent of First Home Buyers Grants in the 80s. However, this happened a time when the combination of high interest rates and tighter lending practices made it impossible to get massively into debt and certainly not put the entire economy at risk as the libs have managed to do.

You should do something the libs never bothered to do and look at the RBA debt statistics (http://www.rba.gov.au/statistics/tab...=0303-18:25:28). Note that debt to assets and debt to income was largely unchanged for 15 years and has almost tripled under the liberals tenure.

And whilst you are at it look at the affect on debt to GDP... oh but they got rid of government debt... give me a fn break.

But government does not force people into debt?

[Guest]

The bogan Gillard can half-see what is going on but is one of the gullibly stupid Australians who believe high iron ore prices and demand will be here forever. No need to worry about China's bubble economy, no need to worry about China's massive investment in Africa and South America in an attempt to remove it's reliance on greedy Australian miners, no need to worry about our dwindling manufacturers and agriculture industries. She'll be right mate.

http://www.bloomberg.com/news/2011-0...-burdens-.html

But government does not force people into debt?

Do you really think the government is totally clueless as to the debt affects of policies like CGT discounts and Home Buyer Grants? The government is there to manage debt levels. Keating was ridiculed for getting Net Foreign debt levels to 40% of GDP during a recession, we are now at 60% during a massive boom and with record australian dollar value. If we get into a recession and GDP and AUD both drop we will go to over 100% of GDP. That is Greece and Ireland territory.

[Guest]

The bogan Gillard can half-see what is going on but is one of the gullibly stupid Australians who believe high iron ore prices and demand will be here forever. No need to worry about China's bubble economy, no need to worry about China's massive investment in Africa and South America in an attempt to remove it's reliance on greedy Australian miners, no need to worry about our dwindling manufacturers and agriculture industries. She'll be right mate.

http://www.bloomberg.com/news/2011-0...-burdens-.html





Do you really think the government is totally clueless as to the debt affects of policies like CGT discounts and Home Buyer Grants? The government is there to manage debt levels. Keating was ridiculed for getting Net Foreign debt levels to 40% of GDP during a recession, we are now at 60% during a massive boom and with record australian dollar value. If we get into a recession and GDP and AUD both drop we will go to over 100% of GDP. That is Greece and Ireland territory.

Sure government policies like the ones you have said effect debt levels but they don't hold a gun at our personal or collective heads saying "You must borrow".

And I agree when not if the Chinese Bubbles Housing and Construction go pop we will be in for a hell of a shock when commodity prices slump. Unfortunately this could all happen in the next 6 months if things continue to get worse in the middle east.

[Guest]

You acknowledge the government can affect debt levels, and then absolve them of any responsibility in managing those debt levels all in the same sentence. Well done. You should become a politician.

[Guest]

You acknowledge the government can affect debt levels, and then absolve them of any responsibility in managing those debt levels all in the same sentence. Well done. You should become a politician.

LOL I left out a word or too

Should have read "minimal effect on debt levels"

[Guest]

LOL I left out a word or too

Should have read "minimal effect on debt levels"

That's even worse. It demonstrates you have zero understanding of the role of the Government and the RBA.

[Guest]

Where did I mention the RBA?

[Guest]

lol. My apologies. If you don't understand the role and affect the government has in controlling debt then I shouldn't confuse you by introducing the RBA into the equation.

[Guest]

If your gonna be like that there is at least one other factor that has played a significant role in private debt

[Guest]

I didn't vote for it actually. I am not like yourself in supporting a political party as though it were a religion or rugby league team.


If we do go into deficit it won't just be because of Rudd's reckless spending. It will be largely because of the massive debt Howard/Costello government got Australian householders into which will eventually completely choke of spending and cause another major recession. And let's not forget their wonderfully irresponsible tax cuts in an already inflationary environment to further stimulate debt and inflation.

If the major recession doesn't eventuate in order to reverse the generational inequity created by the Howard government then I hope you have enough bedrooms in your house for your grand children to live in for the next few decades. It may take a few decades for you to realise how good you actually had it in the "bad old days" of higher interest rates.

So they were running $20 billion plus surpluses what should they have done with the money if they didn't give us tax cuts?

Imho they were not in an easy position