Parallel Universe

[redandblack]

It'as not as simple as that.

Parts of the economy are doing extremely well, parts not so well.

Overall, inflation is low, growth is OK, unemployment is relatively low and all that is against a backdrop of the rest of the world really struggling.

I know we have all have different political opinions, but if you're going to contuinually criticise the government for what you see as their failings (and they do have some), then also give credit where it's due.

[Sojourner]

It'as not as simple as that.

Parts of the economy are doing extremely well, parts not so well.

Overall, inflation is low, growth is OK, unemployment is relatively low and all that is against a backdrop of the rest of the world really struggling.

I know we have all have different political opinions, but if you're going to contuinually criticise the government for what you see as their failings (and they do have some), then also give credit where it's due.

I have to concede that with the announcement yesterday of an Interest Rate Cut and the likelihood of further cuts in coming months that Julia Gillard and the ALP are a good chance of seeing the pendulum swing back somewhat, when the cheques begin going out to people as compensation for the Carbon Tax I think she will also see another upswing.

R&B makes a fair point in that a lot of the vitriol that goes around tends to be largely about what may happen in the future as to what has actually occured.

The only spanner that I would throw into the works would be Australia's foreign debt from the Howard years to now. I think that the ALP are walking into a trap by being determined to have it paid for by the next election. Yes they can do that, but at the expense of things that need to be done now to show runs on the board for the ALP. I dont think the 0 debt result is what many in the electorate are as worried about as what the media may suggest, yet to do nothing in terms of infrastructure to repay this debt may well be the free kick the Libs are looking for when they roll out their election promises.

[Q.]

Agree Sojo. The interest rate cut is an absolute gift to the incumbents. Should see an increase in consumer spending which is timely given that we are heading into the holiday season. It effectively bails out the government from their inaction on stimulating the non-resource sector.

[Jimmy_041]

It'as not as simple as that.

Parts of the economy are doing extremely well, parts not so well.

Overall, inflation is low, growth is OK, unemployment is relatively low and all that is against a backdrop of the rest of the world really struggling.

I know we have all have different political opinions, but if you're going to contuinually criticise the government for what you see as their failings (and they do have some), then also give credit where it's due.

How about you go and tell your family or staff what do if you have any that would listen to you

[southee]

Agree Sojo. The interest rate cut is an absolute gift to the incumbents. Should see an increase in consumer spending which is timely given that we are heading into the holiday season. It effectively bails out the government from their inaction on stimulating the non-resource sector.

Yes ....0.25% will put more money in people's pockets.

Like a 300k mortgage with $16 in the pocket....people will go crazy in the shops !!!!

[Dirko]

Agree Sojo. The interest rate cut is an absolute gift to the incumbents. Should see an increase in consumer spending which is timely given that we are heading into the holiday season. It effectively bails out the government from their inaction on stimulating the non-resource sector.

Yes ....0.25% will put more money in people's pockets.

Like a 300k mortgage with $16 in the pocket....people will go crazy in the shops !!!!

And it's offset by higher utility bills, petrol, food etc etc....

[Sojourner]

Agree Sojo. The interest rate cut is an absolute gift to the incumbents. Should see an increase in consumer spending which is timely given that we are heading into the holiday season. It effectively bails out the government from their inaction on stimulating the non-resource sector.

Yes ....0.25% will put more money in people's pockets.

Like a 300k mortgage with $16 in the pocket....people will go crazy in the shops !!!!

Unless of course you bank with the NAB and maybe you get $8 Southee!

A chap from the housing industry said that one .25% cut would not do a lot to reinvigorate the housing industry and I think that is a fair call. I could well be wrong but I agree with some of the commentators that are suggesting a further 3 .25% cuts are a likely proposition either begining in December or over 2012. The Housing market will have had a couple of years of a trough yet the population in SA is still increasing and they have to live somewhere, I think its likely that as it was post the previous recessions that a mini boom will also be the result once it bottoms out. Its not like no houses are being sold, there are plenty of sold stickers on places in the North Eastern Suburbs, although they do appear to be on the market for a longer time, not unlike what the market used to be pre 1990!

[redandblack]

I agree with pretty much all of what you say, Sojourner, good points, especially about the surplus.

Jimmy, get over it, time to draw a line.

[Q.]

I don't get people, they whinge that an interest rate cut's resultant few extra dollars in the sky rocket is not enough, but then whinge that a few extra dollars out of it thanks to a Carbon Tax is too much

[overloaded]

Once again I'm confused.

I keep getting told that Labor are 'ruining the country". When I ask how, there are hardly any answers.

Today the Reserve Bank dropped interest rates. They're now a full 1% lower than when Labor took office, but I was told that interest rates would always be lower under a Liberal government.

Please Julia, keep ruining the country

If you think Julia is doing a good please open your eyes.

Whatever advantage this country had through our vast mineral resources she is giving back to the rest of the world through the carbon tax and IR reform.

We only get one chance at this and if we blow it we will be in a recession like the rest of the world. The fact we are not in recession is nothing to do with the Labor party and everything to do with demand from China and India. Take that demand away and we are stuffed.

[Jimmy_041]

It'as not as simple as that.

Parts of the economy are doing extremely well, parts not so well.

Overall, inflation is low, growth is OK, unemployment is relatively low and all that is against a backdrop of the rest of the world really struggling.

I know we have all have different political opinions, but if you're going to contuinually criticise the government for what you see as their failings (and they do have some), then also give credit where it's due.

I'm still trying to work out where we are at

One minute we are in economic nirvana thanks to Julia, and next, when challenged, its not as simple as that anymore.
So, when everything is going along so nicely, the Reserve cut interest rates do they?

Overloaded is right - if it wasn't for people wanting our minerals, we'd be in a recession & the Reserve Bank knows it - hence the rate cut.

[Psyber]

I thought this was going to be a thread discussing string theory.

R&B often seems to have his own perspective as though living in a different 4 of the 11 dimensions.
Then, I'm sure, so do I to some here...

[once_were_warriors]

As a neutral , I must admit where we are economically is amazing compared to US and Europe.

If we didn't have this and this and this we are knackered.

How about we do have this and this and this and lets go for it.

Sick of the negativity talk about looking at the bad 20% of what's going on and negating the 80% that is going great guns.

It was going to be the end of the world when we introduced :

Floating the dollar
Superannuation
GST
Industrial Relations

Bloody hell we don't have our children walking 40kms to get potable water or have people dropping bombs from a great height upon our homes.

If you whinge and bitch all the time , you will lose sight of living life.

[Q.]

Whatever advantage this country had through our vast mineral resources she is giving back to the rest of the world through the carbon tax and IR reform.

We only get one chance at this and if we blow it we will be in a recession like the rest of the world. The fact we are not in recession is nothing to do with the Labor party and everything to do with demand from China and India. Take that demand away and we are stuffed.

The idea that we should bow down to mining corporations because of the absurd notion they will pack up shop is laughable. They won't be going anywhere regardless of having a Carbon Tax or RSPT imposed on them and the fact we bought into their scare campaigns (Andrew Forrest in a hi-vis?!) is pissweak. Labor should have had the balls to introduce the RSPT the first time and we as the public shouldn't have been so gullible in sympathising with multi-billionaires.

You say not to 'blow it'. We will blow it if we don't slow down the resource sector and divert growth to consumer sectors. Yes, there is an element of wealth redistribution about the Carbon Tax and the fact that low income earners will have more money in their pockets will help prop up the non-resource sector.

Lastly, an opposition party and MSM running scare campaigns on the economy despite actual evidence to the contrary has been an influential factor in denting consumer confidence (and therefore hurting the non-resource sector). Where are the calls for actual policy ideas from our opposition and a MSM that reports on the facts?

[Sojourner]

I heard an interesting figure tonight on the radio, at the same time of the year in 2007 the banks were holding 27 Billion in deposits, now its up to over 70 billion in deposited funds because people are saving much more and not spending.

Also heard that 14 million less was waged on the Melbourne Cup this year as opposed to last year!

[dedja]

The Labor government and Julia Gillard's hold on power is coming to an end.

The political agenda is being completely driven by Tony Abbott and the coalition and they will romp to a landslide victory at the next election.

There is no parallel universe and the forces of political nature are operating naturally ... Gillard and Labor are just being outsmarted by Abbott time and time again, and it is pointless to look to factors like the economy, interest rates, climate change and asylum policies as they are irrelevant in this type of climate.

Labor are just hopelessly incompetent political players and rightly or wrongly, will be slaughtered accordingly.

[Jimmy_041]

I think there is a parallel universe dedja but it is the current economy
We currently have a good resources sector but a good proportion of our other industry are struggling badly.
This government failed badly when they covered the banks debt ratings but asked for nothing in return.
They had the perfect opportunity to demand that they pass on all interest rate cuts - they didn't.
Julia telling them to, is a complete laugh and was done for purely cosmetic reasons.
This government are a failure but it is not surprising considering the hung parliament and leadership problems they have - it was always going to turn out that way.

[redandblack]

The Labor government and Julia Gillard's hold on power is coming to an end.

The political agenda is being completely driven by Tony Abbott and the coalition and they will romp to a landslide victory at the next election.

There is no parallel universe and the forces of political nature are operating naturally ... Gillard and Labor are just being outsmarted by Abbott time and time again, and it is pointless to look to factors like the economy, interest rates, climate change and asylum policies as they are irrelevant in this type of climate.

Labor are just hopelessly incompetent political players and rightly or wrongly, will be slaughtered accordingly.

Great work, dedja

What a fine example of another parallel universe on here. The above is totally opinion and prediction, dressed as fact.

This, of course, is perfectly acceptable, as it comes from an anti-government source and is in accordance with the rules of this forum, according to some of the right-wingers on here.

Those rules include:

Opinion stated as fact is fact if it comes from the right wing. Fact quoted by non-conservatives is evidence that they are hopelessly biased.

Redand black is hopeless biased because he always supports Julia Gillard.

We right-wingers are not biased in never supporting anything she ever does, because everyone knows we’re right.

If neutral posters post anything they are right if they agree with us and wrong, or to be ignored, if they don’t.

If we have no argument, resort to personal abuse. If it’s redandblack, post that personal abuse in another forum .

If we post anything detailed, it is an insurmountable argument. If redandblack posts anything detailed, it is evidence he thinks he knows everything and is brow-beating us poor defenceless posters.

There is another political universe on here, one that I enjoy. Debating opinions and facts with the very many excellent conservative poster and fellow travelers on here. I might not agree with some of them, but I value what they say and I appreciate their good wishes.

So thank you dedja for that post. I usually enjoy your posts and particularly enjoyed that fine example of opinion dressed as fact, abuse of Julia Gillard, dismissal of all the economic indicators and recognition of Tony Abbott's brilliance.

Much appreciated

PS: Nice post, Jimmy, I agree with some of it.

[Q.]

Labor's implosion wouldn't be so bad if the disturbing consequence of Abbott as PM was not to become a reality.

[Gingernuts]

Labor's implosion wouldn't be so bad if the disturbing consequence of Abbott as PM was not to become a reality.

Bingo. Anyone else wouldn't bother me in the slightest.