Mega Thread ALP Leadership Spill - 26 June 2013

[Smiling Buddha]

All this puts into context the sanctimonious bullshit that Shorten came out with on the Neil Mitchell show last week.

http://billshorten.com.au/transcript-3aw-with-neil-mitchell

Looking back, it was so obvious.

'I support our Prime Minister. I continue to support our Prime minister. I support our Prime Minister because the Liberal party blah blah blah'. Mitchell should have forced him to say 'I support Julia Gillard'.

campaigner.

 

[Enya]

Very tempted to start a website called 'shortenhateswomen.com'.

Anything I can do to help ruin this weasel, I will.

Will it be as successful as your carosagenda website?

 

[Eleven 38]

Are people basing their thoughts that Rudd can win more seats than Julia on the preferred PM polls? I think the labor party are, hence another change in leadership.

I honestly don't think it's going to make a difference, those polls were skewed with liberal voters who would have put their preference to Rudd, but still won't vote for him.

 

[Caesar]

Are people basing their thoughts that Rudd can win more seats than Julia on the preferred PM polls?

No, the polls showing that ALP 2PP would be higher under Rudd than Gillard.

 

[carnthemlions]

What is the alternative to balancing the budget? We're already $300 billion in debt. We have a $15b budget hole just from the interest payments of the debt Labor has racked up.

I find it hilarious that all these people on the news websites have been threatening that we'll end up like Europe with all these cuts if we vote for Abbott. No, we'll end up like Europe if we allow Labor to continue to do what they do best. If we make some smart cuts now, we'll avoid being like Europe as we will keep our debt manageable.

What was the alternative in Queensland? To keep on spending money they don't have??

Yes, we're pretty much Greece, right?
Is that you joe??

As for Queensland- you clearly have no idea what you're talking about. They're spending money, just not on anything that could be defined as important.

 

[carnthemlions]

Youse are just jelly!!

Oh god.

So? It still costs around $15 billion a year in interest payments alone. That is 6 years worth of gonski funding each and every year.

The only reason our debt is manageable is because of what Howard did. Another 3 years of Labor at this rate and we'll have a debt of $450 billion. Is that too much? What about $600 billion and we're spending $30 billion a year on interest. Is that enough??? When is it time to stop spending and start paying it back? For Labor, it seems never.

Just out of interest, what did John Howard do to make our debt manageable?

 

[Gough]

Youse are just jelly!!

Oh god.
Just out of interest, what did John Howard do to make our debt manageable?

Generally he sold public assets.

 

[Sydney Bloods]

Yes, we're pretty much Greece, right?
Is that you joe??

As for Queensland- you clearly have no idea what you're talking about. They're spending money, just not on anything that could be defined as important.

You miss the point, the idea is to stop spending like maniac's least things end up like grease.

Moderates, vote labor so for all the social issues that the left provide, then kick you out before you can piss away too much money.

Vote liberal to get things back on track then kick them out before they * over everyone's pay.

In fact if liberals could stand apart from the far right, labor would never be re-elected.

 

[Ripper]

What is the alternative to balancing the budget? We're already $300 billion in debt. We have a $15b budget hole just from the interest payments of the debt Labor has racked up.

I find it hilarious that all these people on the news websites have been threatening that we'll end up like Europe with all these cuts if we vote for Abbott. No, we'll end up like Europe if we allow Labor to continue to do what they do best. If we make some smart cuts now, we'll avoid being like Europe as we will keep our debt manageable.

What was the alternative in Queensland? To keep on spending money they don't have??

That's also 10 x teaching hospitals or 10 x footy stadiums per year. It will also blow out when Interest rates go up.

The Bank Of International Settlements Warns The Monetary Kool-Aid Party Is Over

Can central banks now really do “whatever it takes”? As each day goes by, it seems less and less likely... Six years have passed since the eruption of the global financial crisis, yet robust, self-sustaining, well balanced growth still eludes the global economy. If there were an easy path to that goal, we would have found it by now.

Monetary stimulus alone cannot provide the answer because the roots of the problem are not monetary. Hence, central banks must manage a return to their stabilisation role, allowing others to do the hard but essential work of adjustment.

Many large corporations are using cheap bond funding to lengthen the duration of their liabilities instead of investing in new production capacity.

Continued low interest rates and unconventional policies have made it easy for the private sector to postpone deleveraging, easy for the government to finance deficits, and easy for the authorities to delay needed reforms in the real economy and in the financial system.

Overindebtedness is one of the major barriers on the path to growth after a financial crisis. Borrowing more year after year is not the cure...in some places it may be difficult to avoid an overall reduction in accommodation because some policies have clearly hit their limits

 

[Enya]

They certainly found a way to decrease the legibility of what you quoted there, Ripper.

 

[greennick]

Just out of interest, what did John Howard do to make our debt manageable?

Budget surplus and sold a few assets. It will take us a lot longer to pay it off now...

 

[Caesar]

"There will be no carbon tax under a government I lead" now seems oddly prescient. It doesn't commence for another 4 days.

 

[greennick]

Are you aware of a little thing called the Global Economic Crisis? Maybe you should go look at what a conservative British government did and see where they are now. If Abbott was in charge in 2008 we would have gone into recession.

Are you aware of this little thing called the mining boom? Rudd and Gillard didn't save this country, the fact the commodity price slump only lasted about 6 months did.

Anyway, who cares if we go into recession a little bit? It isn't the end of the world. Technically WA is in recession now. If anything, it is a good thing as the economy was overheated before that, it needed to come off the boil. It is more important to make structural changes to the economy in times like the GFC than it is to avoid the economy slowing a little bit.

However, instead of doing that, we propped up sectors of the economy that needed some change, drove up interest rates above world wide levels, which increased our exchange rate and made the sectors of our economy that really needed help even less competitive (retail, manufacturing, education, etc).

 

[noddy]

Would Gillard have endured a smoother ride had say Rudd left back in Feb last year?

Would have had some effect as at least she would have had clearer air to breath, there were times that Julia seemed to be on the rise with good news stories to tell when one of two things would happen either Kevin Rudd's head would pop up out of no where with a catch cry of "hi guys i'm still here" or she would some how manage to stuff it up herself.

 

[noddy]

Shorten saying on 2UE that he has been supporting Rudd for several weeks.

Smiling Buddha

Funny about that as last night Graham Richardson said he is a close friend of Shortens & had been having conversations with him for a couple of weeks on the state of affairs, will be interesting just how the future will judge this so-called close confidant of Julia Gillard.

 

[stormee]

The Guardian seems to think Abbott won't pursue a no confidence motion today... any ideas why that might be?

 

[Lach72]

Are you aware of this little thing called the mining boom? Rudd and Gillard didn't save this country, the fact the commodity price slump only lasted about 6 months did.

Anyway, who cares if we go into recession a little bit? It isn't the end of the world. Technically WA is in recession now. If anything, it is a good thing as the economy was overheated before that, it needed to come off the boil. It is more important to make structural changes to the economy in times like the GFC than it is to avoid the economy slowing a little bit.

However, instead of doing that, we propped up sectors of the economy that needed some change, drove up interest rates above world wide levels, which increased our exchange rate and made the sectors of our economy that really needed help even less competitive (retail, manufacturing, education, etc).

Out of interest, where would you start making the cuts to get out of debt?

 

[stormee]

Lol'd just called Bill Shorten 'The Kingslayer'

 

[placebo]

So? It still costs around $15 billion a year in interest payments alone. That is 6 years worth of gonski funding each and every year.

The only reason our debt is manageable is because of what Howard did. Another 3 years of Labor at this rate and we'll have a debt of $450 billion. Is that too much? What about $600 billion and we're spending $30 billion a year on interest. Is that enough??? When is it time to stop spending and start paying it back? For Labor, it seems never.

Do you also find it odd that the same people who say in regards to the Carbon Tax, that we should be setting a positive example even if it doesn't make a significant difference worldwide are also the same people who say that 'debt isn't a big issue as we have one of the smallest worldwide'?

I guess setting a positive example only applies to the policies one personally agrees with...

 

[tandino]

The Guardian seems to think Abbott won't pursue a no confidence motion today... any ideas why that might be?

Can not win.

 

[stormee]

Lol'd, looks like they've just finished making out.

Can not win.

Hasn't stopped him in the past has it? I guess its more about perception though - Rudd wins a no confidence, looks like he has legit support of the Parliament. Don't bring one, it's still up in the air...

 

[Taylor]

I don't think he would have been sworn in if he hadn't secured the vote of enough members.

 

[Financialpanther]

 

[tazzietiger]

Lol'd, looks like they've just finished making out.

Was Gillard in the chamber. I would of liked to see the look on her face as everyone was congratulating Rudd on his return. I think even Liberal MP's would acknowledge that Rudd was treated harshly to be dumped by the factions in his party in his first term as Prime Minister.

 

[stormee]

Was Gillard in the chamber. I would of liked to see the look on her face as everyone was congratulating Rudd on his return. I think even Liberal MP's would acknowledge that Rudd was treated harshly to be dumped by the factions in his party in his first term as Prime Minister.

Don't know. Although she was referred to by someone as the 'former member for Lalor'.