The Greatest Treasurer

[Gozu]

Oh wow. We're talking about a Trillion dollar economy here.

Tell that to SA Health

What have they got to do with anything? We were talking about the national economy.

[scoob]

Oh wow. We're talking about a Trillion dollar economy here.

Tell that to SA Health

What have they got to do with anything? We were talking about the national economy.

I was talking about what just $20b is worth... its nothing to you.

[Psyber]

I got this the other day from a friend of mine who is a lawyer who has done a lot of work negotiating joint verntures and merger deals for big companies.
He is more conservative than me, and I don't know if his facts are absolutely correct.
Can anyone here verify or refute his statements?

What would you say that if I advised you that the total Federal, State and local Government Sovereign Debt of Australia well exceeds the total Sovereign Debt of Greece.
I know that Australia has about double the population of Greece and that Australia has much more resources, however I think that this is still a very alarming fact.
Even more alarming is the fact that this total Australian Sovereign Debt is escalating rapidly, with no end in sight other than a possible change of Government a long way down the track.

[dedja]

Australia has 2 1/2 times the population and a GDP 5 times larger than Greece.

Australia's debt is 6% of GDP, whilst Greece is 150%.

[Psyber]

Australia has 2 1/2 times the population and a GDP 5 times larger than Greece.
Australia's debt is 6% of GDP, whilst Greece is 150%.

Anyone have the respective totals in cash terms rather than percentages of GDP?
Or the respective GDP figures and I'll do the arithmetic?
Failing that I'll research the GDP figures later myself.
(I asked because my friend does tend to exaggerate.)

[dedja]

in dollar terms he is broadly correct ...

[dedja]

LOL, didn't see that coming ...

http://www.adelaidenow.com.au/news/nati ... 6541133706

TREASURER Wayne Swan says it is "unlikely" Labor will be able to achieve the promised budget surplus in 2012/13.

The wafer-thin $1.1 billion budget surplus Swan had promised to deliver was shattered today when company tax payments came in almost $4 billion under expectations, reflecting commodity price falls and weakness in the global economy.

"Tax receipts are well below our forecast," Mr Swan said. "It was a substantial hit to profits that Australian companies have experienced in the first half of this year."

[Gozu]

That's good now they won't have to rip $400 million out of foreign aid!

[Bully]

just add more to the carbon tax, that will bring more in

[dedja]

Just shows how politically naive and stupid this government is.

They pinned their credibility on a surplus this year as a cast iron promise without having any credible outs, as any experienced political player would have done.

They deserve to be hammered for this not because they are fiscally irresponsible, but because they are political imbeciles.

[Ruben Carter]

Just shows how politically naive and stupid this government is.

They pinned their credibility on a surplus this year as a cast iron promise without having any credible outs, as any experienced political player would have done.

They deserve to be hammered for this not because they are fiscally irresponsible, but because they are political imbeciles.

just a pity there's no credible alternative...

[Jimmy_041]

Actually the alternative is far more credible than the current mob
That's why Labor wont call an election now

[Sky Pilot]

Wayne Swan illustrated just how silly he is when he accepted the "Greatest Treasurer" award and kept a straight face. Anyone with an ounce of class would have paid tribute to the billions Costello left him in surplus.

[Ruben Carter]

Wayne Swan illustrated just how silly he is when he accepted the "Greatest Treasurer" award and kept a straight face. Anyone with an ounce of class would have paid tribute to the billions Costello left him in surplus.

oh yeah... where's he now?

[Sky Pilot]

Wayne Swan illustrated just how silly he is when he accepted the "Greatest Treasurer" award and kept a straight face. Anyone with an ounce of class would have paid tribute to the billions Costello left him in surplus.

oh yeah... where's he now?

Costello or Swan?

[smac]

He must be an amazing treasurer. And a dickhead.

Feels like an April fools joke.

http://www.perthnow.com.au/money/bankin ... 6585867131

[southee]

He must be an amazing treasurer. And a dickhead.

Feels like an April fools joke.

http://www.perthnow.com.au/money/bankin ... 6585867131

Is he serious????

What a w@nker!!!!

This cant be true.....surely???

[wycbloods]

It's being changed from 7 years to 3 is it really that big a deal?

[southee]

It's being changed from 7 years to 3 is it really that big a deal?

Yes it is.....

[wycbloods]

It's being changed from 7 years to 3 is it really that big a deal?

Yes it is.....

Why?