Play Nice Politics #3 - Covideo killed the radio star

[kirky]

What's pathetic? The fact that your heroes are actually going to be caught out for poor fiscal policy? The sooner you recognise their weaknesses the better. They aren't as good as you think they are. That is not to say that Labor are better, to the contrary they aren't. Our political system is broken. We need to find away to get rid of THEM ALL.

The Coalition’s response - cut wages or no wages growth. It has been the same playbook since Adam was a boy.

As I keep saying as a general rule - you give someone on a low income additional money they will spend it in the economy. You give additional money to someone rich, they will save it.

And trickle down economics, which is one of the right’s mottos, has been found to be a crock of s**t!

 

[jenny61_99]

Mr Moogle henceforth shall be recognised as the seer of all things....."The Oracle"

It doesn't take a genius to foresee what's going to happen, Bicks.

 

[StonesThrow]

Ok I will.

If only Labor had supported the government measures to reign in debt, we might still have had Abbott as PM.

By the way when is the last Labor surplus?

Pursuing a surplus in any climate is arguably irrelevant, but perusing one when the conditions are poor is economic mis-management. Especially while inflation and hence rates are low.

Both Labor and liberals are foolish in pushing for one imo. It's arguable whether they'll get there anyway.

 

[Bicks]

It doesn't take a genius to foresee what's going to happen, Bicks.

What University did you attain your Bachelor of Economics degree? Asking for a friend. UQ?

 

[kirky]

It doesn't take a genius to foresee what's going to happen, Bicks.

They can’t see the forest for the trees. Dumb arses.

What more anecdotal evidence do they need?

Car sales down
GDP down
Inflation down
Unemployment going up
Housing market down
Interest rates way down

And yet we have doubled the debt. Yeh!

But we might get a surplus off the back of soaring iron ore prices (due to the Brazilian mine being off line).

 

[Coopers]

The recession will actually obliterate way more people than you think. There aren't going to be too many people in Australia who aren't considerably worse off. The mega wealthy will love it because they will go on a spending spree and buy up cheap assets. People without massive amounts of debt will probably be able to ride things out okay too, though their living standards may drop somewhat. Everybody else though? If you work in an industry vulnerable to recession and you have a hefty mortgage, you're straight up f’ed.

Hey Chicken Little, we've had recessions before. Why is this one so much worse?

 

[StonesThrow]

It does take a genius to forsee what's coming and in most cases they're wrong anyway.

 

[Mr_Moogle]

Hey Chicken Little, we've had recessions before. Why is this one so much worse?

The housing market dude. We are up to our eyeballs in private debt and the market is crashing.

 

[StonesThrow]

Hey Chicken Little, we've had recessions before. Why is this one so much worse?

IF there was one, for starters the cash rate will be near zero. When the gfc hit it was around 7. Private debt is also a big issue. If unemployment rises significantly, defaults could kick things off even more.

The libs would either have to abandon their surplus and provide serious stimulus or take the austerity route (or both).

 

[Mr_Moogle]

IF there was one, for starters the cash rate will be near zero. When the gfc hit it was around 7. Private debt is also a big issue. If unemployment rises significantly, defaults could kick things off even more.

The libs would either have to abandon their surplus and provide serious stimulus or take the austerity route (or both).

They will take austerity measures and it will get even worse. They are conservatives. In times of crises they will make sure the little guy bares the full brunt of the collapse.

 

[1970crow]

I'm not rooting for it at all. But I know it's coming and they will have no-one else to blame but themselves. And all of you who felt they would run the economy better will have to maybe rethink that position.

One of the reasons that the economy is struggling is because we're getting close to a balanced budget. It's easy to not be in recession when you're running up massive deficits and sending the country into debt. You do understand this don't you?

 

[Elite Crow]

What's pathetic? The fact that your heroes are actually going to be caught out for poor fiscal policy? The sooner you recognise their weaknesses the better. They aren't as good as you think they are. That is not to say that Labor are better, to the contrary they aren't. Our political system is broken. We need to find away to get rid of THEM ALL.

That you’re rooting for a recession so you can say how bad the Libs are and then you deny it.

“I’ve got time” can mean only one thing, you can wait for it to eventuate.

 

[Vader]

It doesn't take a genius to foresee what's going to happen, Bicks.

No, but it takes a remarkable degree of pigheadedness to deny the reality our country is facing...

 

[Deaneus!]

One of the reasons that the economy is struggling is because we're getting close to a balanced budget. It's easy to not be in recession when you're running up massive deficits and sending the country into debt. You do understand this don't you?

FactCheck: has Australia’s net debt doubled under the current government?

Was shadow minister for finance Jim Chalmers correct when he said that under the current Coalition government, net debt had doubled? We asked the experts.

theconversation.com

If it's easy to not be in recession when you're running up massive deficits and sending the country into debt, and the Liberals have doubled the debt, why is everyone so scared about a recession?

I thought you said it was easy?

 

[Elite Crow]

For all of those complaining about the debt increasing, why haven’t Labor and the Greens supported budget measures to reduce it?

You can’t knock back measures and then whinge when debt goes up, unless of course you’re a hypocrite and just want to whinge

 

[1970crow]

Probably because they have fu** all to show for it and still aren’t addressing the structural issues of the budget - get rid of some of Costello’s rorts would be a start.

Which ones?

 

[1970crow]

The Coalition’s response - cut wages or no wages growth. It has been the same playbook since Adam was a boy.

As I keep saying as a general rule - you give someone on a low income additional money they will spend it in the economy. You give additional money to someone rich, they will save it.

And trickle down economics, which is one of the right’s mottos, has been found to be a crock of s**t!

You must have written the economics book from my first year at uni then. One of the few things that stuck in my head. The marginal propensity to consume increases but at a decreasing rate. I may have missed some words.

 

[Elite Crow]

Report out Australia has the highest minimum wage in the OECD.

 

[Kane McGoodwin]

See, I think we agree.

However it is not having the desired effect with the banks charging more over time above the RBA rate. Competition is not working - the RBA rate cut which is supposed to help the economy is increasing profit for the banks. None of that is the intention of how it should work.
(wait for the rates to go up, you can guarantee the full amount is passed on).

The big banks collude... which is why is usually pointless to move to another bank. Easier just to buy shares in them which is what I did as can't beat the system.

 

[dogs105]

Which ones?

50% cgt discount to start

 

[Elite Crow]

50% cgt discount to start

Nothing like trying to put the brakes on investment, that attitude was rejected at the last election, I wonder if Labor will learn?

 

[Bicks]

Keep it for the politics thread you tool.

Certainly you spanner.

 

[Carmo]

There's only ever lots of comments on here when people are slinging s**t at one another, its almost like that's what people are on here for, as opposed to offering up and learning about stuff that will affect the future of Australia. Hmmm

 

[kirky]

50% cgt discount to start

This plus reduce the franking excess credits.

And yes, they were rejected at the election but that doesn’t mean they aren’t the right thing to do. Given most Australians actually don’t give a s**t as long as it doesn’t impact on them - the I’m all right attitude

And for the uninformed you can reject measures which hurt those more than those it doesn’t. It’s all about equality but hey, when has that ever mattered to the conservatives. They see it as a class war yet the allowance of certain benefits which were introduced by Costello was also a class war.

 

[Carmo]

So one group is cheerleading a party and an ideology that's causing the economy to go bad, whilst lambasting the other group for cheerleading that the country is going to go bad. Hmmm