Josh Frydenberg. Out of his depth.

[Mofra]

I'm assuming the chances of hearing the term "budget emergency" are fairly low tonight?

 

[Opine]

Similar to the GFC, except:-

• Labor assistance went straight to individuals, which lifted spending, and resulted in the number 1 economy in the world.
• Scomo's assistance went to businesses, which was partly passed on to individuals through maintaining employment, but was also kept by business (rorted) and not required to be paid back, contributing to record debt and in the bottom 25 OECD economies in the world.

ALP didn’t do much during this recent unprecedented challenge; sfa infact.

The program you’re attempting to belittle, economically supported individuals and preserved jobs; many of which have now resumed.

On one hand some argue that those who can afford it should do more to financially help lift those who need to lean on community because of disadvantage, But then argue that the resulting economic deficits are evidence of economic mismanagement. It’s silly logic

 

[Ned_Flanders]

Over the last 2 or so years, almost an entire nation had to rely on government assistance to help lift them during COVID related stand-downs. That was facilitated quickly and with relatively few obstacles, thanks in no small part to the subject of this thread.

those handouts were grossly inefficient, and went far too often to businesses who prospered during lockdown, and only benefited the owners

frydo cannot do a victory lap on his covid response, esp when it contained a $60b error

 

[Opine]

those handouts were grossly inefficient, and went far too often to businesses who prospered during lockdown, and ownly benefited the owners

frydo cannot do a victory lap on his covid response, esp when it contained a $60b error

Look, the fact is he’s done an excellent job in economically unprecedented circumstances.
As much as an independent may be a worthy alternative for those voters who prefer to be politically bespoke, JF is unquestionably far more politically experienced and best equiped candidate to contribute to AU as a whole and by consequence to his own electorate.

 

[Gough]

Look, the fact is he’s done an excellent job in economically unprecedented circumstances.
As much as an independent may be a worthy alternative for those voters who prefer to be politically bespoke, JF is unquestionably far more politically experienced and best equiped candidate to contribute to AU as a whole and by consequence to his own electorate.

By every metric upon which Wayne Swan was loudly condemned as a failure Frydenburg has performed significantly worse so I'm not sure how you can say this with a straight face.

 

[QuietB]

Look, the fact is he’s done an excellent job in economically unprecedented circumstances.
As much as an independent may be a worthy alternative for those voters who prefer to be politically bespoke, JF is unquestionably far more politically experienced and best equiped candidate to contribute to AU as a whole and by consequence to his own electorate.

He is a dud - the graph does not lie.

Ever since 18-19 when Morrison/Frydenberg took over debt has gone into hyperdrive. "Good economic managers" was the last of the Howard era cons left for the Liberals and Frydenberg has pissed all over it.

 

[Opine]

By every metric upon which Wayne Swan was loudly condemned as a failure Frydenburg has performed significantly worse so I'm not sure how you can say this with a straight face.

I don’t think Wayne Swan did a bad job as treasurer responding to GFC. That view is probably supported by his subsequent appointment as deputy PM under Gillard.

 

[Bombermania]

Look, the fact is he’s done an excellent job in economically unprecedented circumstances.
As much as an independent may be a worthy alternative for those voters who prefer to be politically bespoke, JF is unquestionably far more politically experienced and best equiped candidate to contribute to AU as a whole and by consequence to his own electorate.

Josh did a solid job that could have been better without Josh undermining consumer confidence at the height of the lockdowns and a few groups were unnecessarily excluded from those budget measures for petty political reasons or downright stupidity. The real heros of 2020 were the RBA and the banks due to their decision to basically suspend normal lending conditions and so playing a massive part in getting the economy through the pandemic.

 

[Chief]

a few groups were unnecessarily excluded from those budget measures for petty political reasons or downright stupidity

Like universities. Just another ploy to starve them out.

 

[Opine]

Josh did a solid job that could have been better without Josh undermining consumer confidence at the height of the lockdowns and a few groups were unnecessarily excluded from those budget measures for petty political reasons or downright stupidity. The real heros of 2020 were the RBA and the banks due to their decision to basically suspend normal lending conditions and so playing a massive part in getting the economy through the pandemic.

exclusion of casuals and those under 20 hours pw from JK eligibility was wrong

 

[Gough]

exclusion of casuals and those under 20 hours pw from JK eligibility was wrong

He used the crisis to advance his ideological agenda, it was classic shock doctrine behaviour.

 

[E Shed]

He is a very poor treasurer. He is part of a government that is completely captive to big business including mining & media & his decision making is purely ideological without any basis in economic fundamentals.
He’s tried to handicap industry super to advantage for profit funds, tried to handicap shareholders from any influence over business & remove any safeguards or regulation on the top end of town.
Remember this?

Why the Senate vetoed Josh Frydenberg's super sting during a federal election countdown - ABC News Why the Senate vetoed Josh Frydenberg's super sting


Sent from my iPhone using Tapatalk

 

[beema limapep]

ALP didn’t do much during this recent unprecedented challenge; sfa infact.

The program you’re attempting to belittle, economically supported individuals and preserved jobs; many of which have now resumed.

On one hand some argue that those who can afford it should do more to financially help lift those who need to lean on community because of disadvantage, But then argue that the resulting economic deficits are evidence of economic mismanagement. It’s silly logic

The ALP wasnt in power federally. But anyway....

I'm not belittling anything. It's the data on high taxation and record debt that is belittling. My words are mere commentary.

Where is all the money ending up thats getting sucked out of the economy?

And you can have spending and reduce debt. That's not silly logic at all, it's basic economics. If you spend money in the right way it has knock on impacts and facilitates growth in other sectors of the economy.

Unless your ideology is captive to big business.

 

[beema limapep]

Look, the fact is he’s done an excellent job in economically unprecedented circumstances.
As much as an independent may be a worthy alternative for those voters who prefer to be politically bespoke, JF is unquestionably far more politically experienced and best equiped candidate to contribute to AU as a whole and by consequence to his own electorate.

It's not a fact he has done a good job. Thats subjective.

It is a fact that we have gone from the strongest economy in the OECD in 2008, to just about the weakest today (especially under the current government).

Special note:- our economy is just about the weakest in the OECD despite other countries facing worse unprecedented Covid times than Australia (except NZ), who have performed more strongly.

It is also a fact we have record debt, higher taxes and low wage growth under the current government.

Sorry mate - he's either a hopeless economic manager or indifferent to good economic policy which impacts upon key performance measures.

 

[Mofra]

I don’t think Wayne Swan did a bad job as treasurer responding to GFC. That view is probably supported by his subsequent appointment as deputy PM under Gillard.

I'm a fan of Swan, but it's more common than not for Labor Treasurer's to be appointed as deputy PM so I'm not sure that in itself is a tick of approval.
Being in the 'correct' faction always helps too.

 

[beema limapep]

9 years to get things right and a 1,000,000,000,000.00 debt.

The Morison government budget aimed to benefit them being re-elected, not to benefit Austalians.

 

[Ned_Flanders]

I'm not going to bag debt. Just like the GFC a high debt approach was required to stop the economy imploding.

But, a $60b math error is very poor at best, and giving corporate welfare to those who don't need it baffling.

We have had a lot better, but he isn't the absolute worst.

 

[QuietB]

I'm not going to bag debt. Just like the GFC a high debt approach was required to stop the economy imploding.

But, a $60b math error is very poor at best, and giving corporate welfare to those who don't need it baffling.

We have had a lot better, but he isn't the absolute worst.

In this instance we can bag debt. Because it is bad debt.

• When interest rates are going up 25 pts a month starting from June that is because of Morrison/Frydenbergs bad debt causing huge inflation.
• When the arse finally falls out of this asset bubble that is because of Morrison/Frydenbergs bad debt causing the bubble in the first place.
• When Australia finally stops spiralling into debt at 1.5 trillion or 2 trillion or whatever it is going to be, and manages to do that with barely one single nation building project (there is Turnbulls Snowy Hydro II) that is because of Morrison/Frydenbergs bad debt being splashed as cash handouts to mining companies, big churches and big business.

This debt is shocking debt. We literally have nothing to show for it.

 

[beema limapep]

 

[Opine]

I'm a fan of Swan, but it's more common than not for Labor Treasurer's to be appointed as deputy PM so I'm not sure that in itself is a tick of approval.
Being in the 'correct' faction always helps too.

After reading your post above, I looked him up and read that he is in esteemed company; having been voted World’s Top Finance Minister of 2011 by Euromoney Magazine, the only other Australian to receive same award in a previous year was none-other than Paul Keating. That’s further evidence.

 

[carltonchelsea]

Does anyone know where the pre-pandemic $800billion went?
What does the country have to show for it?
That’s buy a lot military hardware right Mofra?
Opine you seem to be a fan of Joshys, where’d the money go?
Any Japanese style bullet trains up and down the east coast, to Perth?
Anything?
Anybody?

 

[campbell]

Look, the fact is he’s done an excellent job in economically unprecedented circumstances.
As much as an independent may be a worthy alternative for those voters who prefer to be politically bespoke, JF is unquestionably far more politically experienced and best equiped candidate to contribute to AU as a whole and by consequence to his own electorate.

oh my.

 

[Opine]

oh my.

Good evening Soup, how was your day?

 

[Donakebab]

Jim Chalmers learned from the best, he will be a far better Treasurer than Josh Frydenberg.

 

[campbell]

Good evening Soup, how was your day?

My day was bloody awesome thanks.