Abbott/Liberal Govt Watch

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Re: Abbott/Liberal Govt Watch

Postby Q. » Thu Sep 12, 2019 10:29 pm

Gladys Liu pulling a Dastyari. Surely she has to get the sack! Although, there always seems to be a separate set of rules for the corrupt LNP politicians.
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Re: Abbott/Liberal Govt Watch

Postby mighty_tiger_79 » Fri Sep 13, 2019 10:32 am

Yeah she has to go.
Booooooooooo
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Re: Abbott/Liberal Govt Watch

Postby Psyber » Mon Sep 16, 2019 3:19 pm

Q. wrote:I'm saying surplus/deficit figures are are meaningless and the continual reference to them is macroeconomic ignorance.

The surplus/deficit figures tells us zero about how well a government handles the economy, wage growth, living standards etc. The fact we are in a per capita recession is testament to that.


Sounds like traditional Greek economic policy to me. Just spend and expect the rest of Europe to bail you out.
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Re: Abbott/Liberal Govt Watch

Postby Q. » Fri Sep 20, 2019 12:38 pm

Psyber wrote:
Q. wrote:I'm saying surplus/deficit figures are are meaningless and the continual reference to them is macroeconomic ignorance.

The surplus/deficit figures tells us zero about how well a government handles the economy, wage growth, living standards etc. The fact we are in a per capita recession is testament to that.


Sounds like traditional Greek economic policy to me. Just spend and expect the rest of Europe to bail you out.


By all means, compare Australia with Greece if you want to look like you don't know what you're talking about.
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Re: Abbott/Liberal Govt Watch

Postby Psyber » Thu Sep 26, 2019 10:26 am

Q. wrote:
Psyber wrote:
Q. wrote:I'm saying surplus/deficit figures are are meaningless and the continual reference to them is macroeconomic ignorance.

The surplus/deficit figures tells us zero about how well a government handles the economy, wage growth, living standards etc. The fact we are in a per capita recession is testament to that.

Sounds like traditional Greek economic policy to me. Just spend and expect the rest of Europe to bail you out.

By all means, compare Australia with Greece if you want to look like you don't know what you're talking about.

I was citing the Greece mess as an example of where uncontrolled spending leads.
The question is do we want the extreme left free spending devotionists to lead us there...
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Re: Abbott/Liberal Govt Watch

Postby Q. » Thu Sep 26, 2019 11:24 am

Psyber wrote:
Q. wrote:
Psyber wrote:
Q. wrote:I'm saying surplus/deficit figures are are meaningless and the continual reference to them is macroeconomic ignorance.

The surplus/deficit figures tells us zero about how well a government handles the economy, wage growth, living standards etc. The fact we are in a per capita recession is testament to that.

Sounds like traditional Greek economic policy to me. Just spend and expect the rest of Europe to bail you out.

By all means, compare Australia with Greece if you want to look like you don't know what you're talking about.

I was citing the Greece mess as an example of where uncontrolled spending leads.
The question is do we want the extreme left free spending devotionists to lead us there...


Shadow economy + massive unemployment + history of instability + don't issue own currency

None of this applies to Australia and is a shit example.

In Australia we do this (this is the LNP extreme spending FYI):

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Re: Abbott/Liberal Govt Watch

Postby Q. » Thu Sep 26, 2019 3:24 pm

Also, it's worth noting that in today's Yahoo Finance conference that Peter Costello stated that Govt spending per capita is currently at a record high:

https://tradingeconomics.com/australia/ ... t-spending

But yeah, we'll keep quoting budget figures like they mean something and making dumb analogies like:

"The labor government is the 3 weeks in Croatia throwing up off the side of a sail boat.
The liberal government is then the next 6 months back at home paying off the credit card bill."
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Re: Abbott/Liberal Govt Watch

Postby FlyingHigh » Sat Sep 28, 2019 5:37 pm

Q. wrote:Also, it's worth noting that in today's Yahoo Finance conference that Peter Costello stated that Govt spending per capita is currently at a record high:

https://tradingeconomics.com/australia/ ... t-spending

But yeah, we'll keep quoting budget figures like they mean something and making dumb analogies like:

"The labor government is the 3 weeks in Croatia throwing up off the side of a sail boat.
The liberal government is then the next 6 months back at home paying off the credit card bill."


LOL for a government who oversaw the massive housing asset price inflation in the 90's and 00's. That is what we are now paying for now with the final death-knell of manufacturing over the last ten years, retail struggling, various sectors of agriculture struggling, whinging about utility prices and council rates, because everyone needs to buy everything as cheap as they can to get by.
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Re: Abbott/Liberal Govt Watch

Postby Q. » Sat Sep 28, 2019 7:21 pm

FlyingHigh wrote:
Q. wrote:Also, it's worth noting that in today's Yahoo Finance conference that Peter Costello stated that Govt spending per capita is currently at a record high:

https://tradingeconomics.com/australia/ ... t-spending

But yeah, we'll keep quoting budget figures like they mean something and making dumb analogies like:

"The labor government is the 3 weeks in Croatia throwing up off the side of a sail boat.
The liberal government is then the next 6 months back at home paying off the credit card bill."


LOL for a government who oversaw the massive housing asset price inflation in the 90's and 00's. That is what we are now paying for now with the final death-knell of manufacturing over the last ten years, retail struggling, various sectors of agriculture struggling, whinging about utility prices and council rates, because everyone needs to buy everything as cheap as they can to get by.


And again, who's only interest is in inflating house prices further. RBA to cut interest rates to 0.75%...

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Re: Abbott/Liberal Govt Watch

Postby Psyber » Sat Oct 05, 2019 11:48 am

FlyingHigh wrote:
Q. wrote:Also, it's worth noting that in today's Yahoo Finance conference that Peter Costello stated that Govt spending per capita is currently at a record high:

https://tradingeconomics.com/australia/ ... t-spending

But yeah, we'll keep quoting budget figures like they mean something and making dumb analogies like:

"The labor government is the 3 weeks in Croatia throwing up off the side of a sail boat.
The liberal government is then the next 6 months back at home paying off the credit card bill."


LOL for a government who oversaw the massive housing asset price inflation in the 90's and 00's. That is what we are now paying for now with the final death-knell of manufacturing over the last ten years, retail struggling, various sectors of agriculture struggling, whinging about utility prices and council rates, because everyone needs to buy everything as cheap as they can to get by.


I don't have a theoretical position about economics, but in practical terms I rely on my observations through my lifetime based on what I bought and sold houses for. There were relatively stable housing prices from when I bought my first house in 1968 until about 1972 then a doubling (plus a little extra) by 1975 under the Whitlam government (which I admit I voted for in 1972 and 1974) then fairly flat house prices until 1984 when there began another rise (a doubling between November 1983 and May 1984) then a steady rise until late 1987 when it all fell over.

Thereafter, prices stayed fairly flat until the late 1990s, by which time I was in Melbourne and prices jumped again in about 2003 in both Melbourne and Adelaide. Then there was a slump, followed by a more gradual rise in 2006-8 and a slump again in late 2008 which benefitted me on my return to Adelaide then.

I dropped a little money selling my house in Stirling/Aldgate in mid 2018 to move elsewhere. I would have done better about 6 months or so earlier.
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Re: Abbott/Liberal Govt Watch

Postby Jimmy_041 » Sat Oct 05, 2019 1:31 pm

I’d agree with most of that Psyber other than:
Late 90’s slump - around 97.
Prices in Adelaide skyrocketed in 2001. I wasn’t here but remember Mrs Jimmy flying back for inspections and telling me we were in trouble money wise because of the price increases.
I bought my house in Burnside in 89 and sold to move overseas in 99. The uplift was only 20% over 10 years.
In 2003 it sold for +80% what I sold it for.
I bought my current house in 2002 and it was double what they paid 5 years earlier.
It’s now worth +200% 17 years later.
I have always heard, dating back to the late 80s, that houses should double every 7 - 10 years
That seems to fit these increases.

Owning a house is the Australian dream. People will do anything to buy one and not get foreclosed.
The big difference between US and Oz housing in the GFC was exactly that plus US non recourse loans.
That saved Australian financial system; not Swan’s pitiful idea to give everyone $900.
I just paid mine off my mortgage. The pokie barons loved it. They paid off their mortgages.
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Re: Abbott/Liberal Govt Watch

Postby Psyber » Wed Oct 16, 2019 6:52 pm

Jimmy_041 wrote:I’d agree with most of that Psyber other than:
Late 90’s slump - around 97.

Yes, I bought a place in West Lakes (Delphin Island) in the 90s and my wife's asthma got worse there. I put it on the market in late 1996 and struggled to get my dough back then. In the end I had to sack Toop and Toop (who kept trying to push my price down when it didn't sell immediately) and hire Elders (Grange branch). They dug me out by sheer perseverence until a keen buyer showed up. I gather it got worse for a while, while we rented near Hahndorf until we moved to Melbourne January 1999 to help out my step-daughter who had cancer in her early 30s. (She survived.)

I came back in January 2009 after my wife died in October 2008.
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