dogs105
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Correlation can certainly be an indicator, but it's not enough to say something happened because of something else in this case.
Play Nice Politics #3 - Covideo killed the radio star
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- Dec 29, 2000
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The poor economic record of this government continues
Economy facing toughest time since tech-wreck downturn
Prime Minister Scott Morrison cautioned against a "knee-jerk reaction" as figures point to the worst GDP result since 2000.www.theage.com.au
Oh I’ve got the popcorn ready to see how they will spin this.
Trade war, US slowing - hard to be positive with what is going on.
But, but, but... the surplus!
So what were the GDP figures? Did we have negative growth?
You’re basically arguing against your happiness though. Despite global downturn, we’re still just holding our heads above water. We’re among the best among our crew, this will no doubt make you happy.
Which case?
Another quarter without negative growth and given that quarter included the election.
Reckon my mate Carmo would be getting a little nervous
Kane McGoodwin
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Without Government spending we have have had negative growth.
They will be hoping low interest rates with tax cuts stimulates the economy.
There’s always government spending, plus people have been whinging the government isn’t spending enough.
We haven’t recorded negative growth so no first strike towards recording a recession
Another quarter with not the first negative growth figures. I don’t really take sides, but I do love the purely partisan looking like the fools that they are. Irregardless of which side of the spectrum they exist.
Kane McGoodwin
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I understood that. Just pointing out there is negative growth with non-government spending which isn't exactly a healthy situation.
It’s tough times, we’re a fair chance of hitting recession. But not on our own, the global economy will be hitting the skids very soon.
It’s not just this case. It’s a well known reality. When s**t hits fan, public faces experience a popularity bump. I don’t blame them, it’s just something that happens. Don’t take it personally.
The global economy is going down the poop chute, and Australia will almost certainly be dragged into a recession as well.
Unfortunately, this government is obsessed with having a budget surplus. They have no plan whatsoever for strengthening the Australian domestic economy, which means that the recession will be much deeper and longer than it needs to be. Their economic bumbling and incompetence is going to cause a lot of pain to a lot of people.
I thought you'd be the one getting nervous! If it wasn't for how well our foreign sector was doing, it would've been a negative quarter. This also debunks any global headwinds argument that is being applied to our economy, there may be a global slowdown in future but that hasn't done one bit of damage to us yet and our performance for four quarters in a row now has been pitiful.
I'm far from being bothered. My commentary in here is only a sideshow of my economic interest. Thus far things seem to be going nicely with my prediction that attempting a surplus would lead to a recession. From a collecting-data-point-of-view I'd really love a close look at a country that reduces fiscal spending (like we are) and decreases interest rates (like we are) to try and correct a low growth issue (like we have). Many neolib economists would predict that should fix the growth issue. I predict it will do little to nothing. I've looked for clear examples of this but usually govts facing really low growth cut rates and increase spending nearly at the same time, so its hard to conclusively say what caused the subsequent improvement (tho I already know its not rates, its spending). I'm hoping our liberal govt finally smashes a stake through the heart of neoliberal monetarism (the theory that interest rates control growth) by sticking with stubbornly trying for a surplus and pressuring the RBA to cut rates. It would be fitting for them to destroy their own economics.
The cutting of rates also creates a conundrum whereby fools are tempted to get back into the housing market again, driving prices and private debt levels back up, creating essentially a two speed economy which will just exacerbate the problems if / when a recession hits.
Also for anyone who wants to be ahead of the economics game, here is some more info for ya, the media is getting it wrong on US/China. Both of those countries still have ok fundamentals and seem a year or two at least away from a recession. Germany over the past decade has become very trade entwined with both US and China and the trade war is harming Germany greatly, that is then dragging on the EU, which wasn't great to begin with. The biggest problem globally is the Non US Anglosphere (UK, Canada, Aust and NZ) and Japan. All of those countries are trying to get surpluses and all of them are being helped by improving foreign sectors, which makes them go further than they otherwise would've towards surplusville. Anyway, what this means is that all these economies, which combined would be the third largest economy on the planet on a par with China and US are dragging money out of the global economy which will slow that down and then on the back of that are going to tank their own economies (if nothing changes).
So there you go, Australia is causing more of the global problem than the US and China, bet you wont see that in the news.
- Dec 29, 2000
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Whilst the nation has avoided negative quarters, SA has posted its second consecutive negative GDP and is in recession.
Sorry post was too long, I’ll stick with another quarter of no negative growth
Carmo, some here can only deal with sound bites and cliches. You need to cut down your posts
BTW Carmo, there was a publication the other day from the nz central bank showing their monetary policy still works. Have a read
Says the flog with a sound bite
I would ask for your view on the merits of monetary policy but you can't critically think your way out of a paper bag.
No negative growf iz gud. Get that serplus Boyz!
You been drinking?
Kane McGoodwin
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Government now offering termination packages for nursing & medical staff.
Have they not heard of natural attrition? Just a matter of freezing new appointments & redeploying to where they are needed.
Crazy waste of money.
Watch all the older staff get retirement bonuses...
Kane McGoodwin
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Agree, I ignore posts that are too long as the poster usually has no ability to be succinct.
It cracks me up everytime!
Elite "I'm really smart" Crow: I'm really smart but I can't read anything over 3 sentences
Everyone Else in here: Snickers smugly because we all know that no one associated with being intelligent ever complained (this much) about the burden of having to read, ergo, Elite aint elite
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