Oz Federal Election 2013 - Discussion and Comments

[drsmithy]

Disastrous halving of the CGT lol oh please why would you think that.

Because it helped fuel a massive speculative real estate bubble that has probably put a large chunk of one generation into a lifetime of debt and denied another ever owning their own home ? That's before getting into the enormous pool private debt that will inevitably be turned into public debt by bank bailouts, and turn us into another Ireland.

On I know maybe its because those rich types with share portfolios and investment properties pay it. The ones that have paid tax all their lives and subsidize those less fortunate.

Maybe if "those rich types" didn't expend so much effort trying to keep those "less fortunate" people "less fortunate", they wouldn't have to "subsidise" them.

 

[Pukka]

Because it helped fuel a massive speculative real estate bubble that has probably put a large chunk of one generation into a lifetime of debt and denied another ever owning their own home ? That's before getting into the enormous pool private debt that will inevitably be turned into public debt by bank bailouts, and turn us into another Ireland.


Maybe if "those rich types" didn't expend so much effort trying to keep those "less fortunate" people "less fortunate", they wouldn't have to "subsidise" them.

And just how are the rich types keeping the less fortunate people less fortunate.

 

[medhead]

Feel free to go well past the last 6 years to see the numbers.

Look no further than the chart headed - Government Net Debt......tells it - like it is:!:

Well if you're only interested in one measure, the Current Government Debt is much more relevant. Especially considering that the Government Net Debt does not go back to the Fraser government or beyond.

 

[amaroo]

Well if you're only interested in one measure, the Current Government Debt is much more relevant. Especially considering that the Government Net Debt does not go back to the Fraser government or beyond.

I think the underlying cash balance is the best indictor of current performance.

 

[drsmithy]

And just how are the rich types keeping the less fortunate people less fortunate.

The usual ways. Keeping more and paying out less, disempowering workers and minimising responsibilities towards them, suppressing wages, privatising public infrastructure.

 

[Pukka]

The usual ways. Keeping more and paying out less, disempowering workers and minimising responsibilities towards them, suppressing wages, privatising public infrastructure.

Yes I thought that would be the type of bleeding heart tripe you would come out with.

 

[drsmithy]

Yes I thought that would be the type of bleeding heart tripe you would come out with.

And I thought that'd be the kind of vacuous response you'd supply. So I guess we're on the same wavelength.

 

[drron]

Secret of the Howard Government’s surpluses | | MacroBusiness
Howard’s legacy questioned by IMF | | MacroBusiness

I thought so.You have fallen for the rewriting of economic history by Stephen Koukoulas,one time advisor to Julia Gillard.
The IMF study actually didn't study Australia's economy in that study but figures were included in some graphs only one of which put Costello's management in a bad light.I suggest you go to the source and not rely on journalist's who have been fed a rather biased summary.
And I can see the Kouk is mentioned on the site you reference.
And no you go and look for the IMF report and read it in full.Easily found on Google.

 

[medhead]

I think the underlying cash balance is the best indictor of current performance.

It's a measure that is taken in isolation. As such it isn't very good at all. Comparative performance is much better. After all we don't want the nanny state/PC philosophy, of treating the last child in the race the same as the first child, being applied to Australia's performance. It's much more important to know how we're performing against other countries. Such comparison also rates us against a whole raft of economic managers not just our one treasurer. If all the vast majority of countries are performing worse that Australia on debt that speaks volumes.

 

[drron]

Having to can half your workforce overnight is broken. Heck, having to can 10% of your workforce overnight would be a pretty bad sign.

My point was, and remains, that blaming a massive headcount reduction like that on one factor is bollocks. There's something else going on - most likely they've been skirting close to the edge for some time and that simply offered a good excuse.


Probably not if the vehicles are privately owned.

I knew I would find it.From the AFR june 30/july 1 issue 2012 in the Smart Money section.Small cap picks-

1.Mcmillan Shakespeare.
Salary packager and car lease administrator Mcmillan Shakespeare has many clients in the more defensive health,charitable and government sectors.McMillan is the No.1 provider in it's space,is well run,has a good service offering and strong potential to further penetrate it's key markets.The market is always concerned the government could change tax rules and reduce the appeal of salary packaging but we are less concerned by that risk.

So with all due respect it is your opinion that is bollocks.

 

[drsmithy]

I thought so.You have fallen for the rewriting of economic history by Stephen Koukoulas,one time advisor to Julia Gillard.
The IMF study actually didn't study Australia's economy in that study but figures were included in some graphs only one of which put Costello's management in a bad light.I suggest you go to the source and not rely on journalist's who have been fed a rather biased summary.
And I can see the Kouk is mentioned on the site you reference.
And no you go and look for the IMF report and read it in full.Easily found on Google.

If you think Macrobusiness is aligned with The Kouk, I think you might need to spend some time actually reading those links, rather than just the URL headlines.

 

[amaroo]

It's a measure that is taken in isolation. As such it isn't very good at all. Comparative performance is much better. After all we don't want the nanny state/PC philosophy, of treating the last child in the race the same as the first child, being applied to Australia's performance. It's much more important to know how we're performing against other countries. Such comparison also rates us against a whole raft of economic managers not just our one treasurer. If all the vast majority of countries are performing worse that Australia on debt that speaks volumes.

Feel free to measure it any way you want.

The numbers are what they are and are indisputable......no amount of spin and BS will make them any better!

 

[drsmithy]

I knew I would find it.From the AFR june 30/july 1 issue 2012 in the Smart Money section.Small cap picks-
So with all due respect it is your opinion that is bollocks.

If the AFR calls a business that has to halve its headcount after a day of reduced volume and that relies on a tax rort "well run", what does that say about their ability to assess business models ?

 

[drron]

If the AFR calls a business that has to halve its headcount after a day of reduced volume and that relies on a tax rort "well run", what does that say about their ability to assess business models ?

It says a lot about your ignorance of how the private sector works.

 

[drsmithy]

It says a lot about your ignorance of how the private sector works.

Indeed. Apparently my belief that the private sector is efficient and capable of properly assessing and ameliorating risk is utterly wrong.

Oh well, it wouldn't be the first time. There was that whole GFC thing...

What other "well run" businesses can you think of that had to halve their headcount overnight after a day of low volume ?

 

[whatmeworry]

Indeed. Apparently my belief that the private sector is efficient and capable of properly assessing and ameliorating risk is utterly wrong.

Oh well, it wouldn't be the first time. There was that whole GFC thing...

What other "well run" businesses can you think of that had to halve their headcount overnight after a day of low volume ?

There are a number of areas that the private sector cannot do as good as government. I.e. Public Transport, Health, Utilities etc
Transport companies suck $2.6 billion

 

[medhead]

Feel free to measure it any way you want.

The numbers are what they are and are indisputable......no amount of spin and BS will make them any better!

Yep and the third lowest government debt against a whole range of countries is pretty damned impressive. That is indisputable.

 

[ComeFlyWithMe]

More spin.

Why do you think that is? Could it have been that we started with a large surplus inherited from the previous government?

Also, I'm presuming you mean net debt to GDP ratio, which, as our GDP is sliding, will likely be an entirely different number in the not too distant future.

A handful of socialists are appearing in this thread. To refer a previous post:

“The problem with socialism is that you eventually run out of other people's money.”
― Margaret Thatcher

 

[drron]

Indeed. Apparently my belief that the private sector is efficient and capable of properly assessing and ameliorating risk is utterly wrong.

Oh well, it wouldn't be the first time. There was that whole GFC thing...

What other "well run" businesses can you think of that had to halve their headcount overnight after a day of low volume ?

Julia Gillard's cabinet?

 

[whatmeworry]

More spin.

Why do you think that is? Could it have been that we started with a large surplus inherited from the previous government?

Also, I'm presuming you mean net debt to GDP ratio, which, as our GDP is sliding, will likely be an entirely different number in the not too distant future.

A handful of socialists are appearing in this thread. To refer a previous post:

“The problem with socialism is that you eventually run out of other people's money.”
― Margaret Thatcher

Funny how some of the conservatives regard Howard as the golden days of restraint... Turns out Howard was one of the biggest spenders and wasters of taxpayer in this nation's history! Howard and Costello did nothing special other then wander into a mining boom and seriously mismanaged the money coming in by buying bogan feral single mothers with baby bonus cash rather building the infrastructure that is solely needed in most cities across Australia.