Quote:

Australia's economy is expected to record its sharpest slowdown since Gough Whitlam was Prime Minister following a collapse in coal exports caused by the Queensland floods and cyclone Yasi early this year. Investment bank Goldman Sachs predicted Australia's economy will have shrunk by as much as 2 per cent in the first quarter of the year, a big turnaround from the 0.7 per cent expansion in the final quarter of 2010. A slump of that size  - if confirmed when official figures are released later this morning - would mark the steepest contraction in the economy since the June quarter of 1974, the year before the dismissal of prime minister Gough Whitlam. "There is no escaping that it is going to be a very weak outcome," the Goldman Sachs report said. "Though the Reserve Bank has declared its intention to look through flood disruptions, the size of the likely GDP contraction implies that it has either miscalculated its size or overestimated the strength of the underlying economy."................

http://www.smh.com.au/business/economy-to-slump-most-since-whitlam-was-pm-20110601-1ffcn.html

Julia Gillard met with the Queen in England .. She asked her, "Your
Majesty, how do you run such an efficient government? Are there any tips
you can give to me"

 "Well," said the Queen, "the most important thing is to surround yourself
with intelligent people.."

Julia frowned, and then asked, "But how do I know the people around me are
really intelligent?"

The Queen took a sip of tea. "Oh, that's easy; you just ask them to answer
an intelligent riddle."

The Queen pushed a button on her intercom "Please send David Cameron in
here, would you?"

David Cameron walked into the room and said, "Yes, Your Majesty?"

The Queen smiled and said, "Answer me this please, David, your mother and
father have a child. It is not your brother and it is not your sister. Who
is it?"

Without pausing for a moment, David Cameron answered, "That would be me."

"Yes! Very good," said the Queen...

Julia went back home to Australia and asked Wayne Swan, her Deputy Prime
Minister the same question.

"Wayne , answer this for me. Your mother and your father have a child.
It's not your brother and it's not your sister. Who is it?"

"I'm not sure," said Wayne . "Let me get back to you on that one."

He went to his advisors and asked every one, but none could give him an
answer.

Finally, he ended up in the men's room and recognised Tony Abbott's shoes
in the next stall.

Wayne asked, "Tony, can you answer this for me? Your mother and Father have
a child and it's not your brother or your sister. Who is it?"

Tony yelled back, "That's easy, it's me!"

Wayne smiled, and said, "Thanks!" Then, he went back to speak with

Julia. "Say, I did some research and I have the answer to that riddle.

It's Tony Abbott"

Julia got up, stomped over to Swan, and angrily yelled into his face, "No,
You idiot! It's the English Prime Minister, David Cameron!"



AND THAT, MY FRIENDS, IS PRECISELY



its an oldie but a goody!

Sprintcyclist wrote on Jun 1^st, 2011 at 10:05am:

Quote: Australia's economy is expected to record its sharpest slowdown since Gough Whitlam was Prime Minister following a collapse in coal exports caused by the Queensland floods and cyclone Yasi early this year. Investment bank Goldman Sachs predicted Australia's economy will have shrunk by as much as 2 per cent in the first quarter of the year, a big turnaround from the 0.7 per cent expansion in the final quarter of 2010. A slump of that size  - if confirmed when official figures are released later this morning - would mark the steepest contraction in the economy since the June quarter of 1974, the year before the dismissal of prime minister Gough Whitlam. "There is no escaping that it is going to be a very weak outcome," the Goldman Sachs report said. "Though the Reserve Bank has declared its intention to look through flood disruptions, the size of the likely GDP contraction implies that it has either miscalculated its size or overestimated the strength of the underlying economy."................ http://www.smh.com.au/business/economy-to-slump-most-since-whitlam-was-pm-20110601-1ffcn.html

wonder what they will do about live cattle to Indonesia....poo that couldnt come at a worse time could it??.. they cant sit back and do nothing on that one..I would think its far more important than climate change

The left always cripple Australia.
With our GDP dropping then see we could be heading towards a recession (which we have to have!)
But this was primarily due to teh Queensland floods (not global warming!)

Just wait until Gillard's effect hits the next quarter!

creep wrote on Jun 1^st, 2011 at 1:21pm:

The left always cripple Australia. With our GDP dropping then see we could be heading towards a recession (which we have to have!) But this was primarily due to teh Queensland floods (not global warming!) Just wait until Gillard's effect hits the next quarter!

you forgot Japan...

creep wrote on Jun 1^st, 2011 at 1:21pm:

The left always cripple Australia. With our GDP dropping then see we could be heading towards a recession (which we have to have!) But this was primarily due to teh Queensland floods (not global warming!) Just wait until Gillard's effect hits the next quarter!

You should be down on your knees thanking Paul Keating and Bob Hawke for their role in saving this economy from ruin.

Sprintcyclist wrote on Jun 1^st, 2011 at 10:05am:

Quote: Australia's economy is expected to record its sharpest slowdown since Gough Whitlam was Prime Minister following a collapse in coal exports caused by the Queensland floods and cyclone Yasi early this year. Investment bank Goldman Sachs predicted Australia's economy will have shrunk by as much as 2 per cent in the first quarter of the year, a big turnaround from the 0.7 per cent expansion in the final quarter of 2010. A slump of that size  - if confirmed when official figures are released later this morning - would mark the steepest contraction in the economy since the June quarter of 1974, the year before the dismissal of prime minister Gough Whitlam. "There is no escaping that it is going to be a very weak outcome," the Goldman Sachs report said. "Though the Reserve Bank has declared its intention to look through flood disruptions, the size of the likely GDP contraction implies that it has either miscalculated its size or overestimated the strength of the underlying economy."................ http://www.smh.com.au/business/economy-to-slump-most-since-whitlam-was-pm-20110601-1ffcn.html

The most perfidious way of harming a cause consists of defending it deliberately with faulty arguments.
Friedrich Nietzsche (1844 - 1900), The Gay Science, section 191

darkhall67 wrote on Jun 1^st, 2011 at 1:52pm:

creep wrote on Jun 1st, 2011 at 1:21pm: The left always cripple Australia. With our GDP dropping then see we could be heading towards a recession (which we have to have!) But this was primarily due to teh Queensland floods (not global warming!) Just wait until Gillard's effect hits the next quarter! You should be down on your knees thanking Paul Keating and Bob Hawke for their role in saving this economy from ruin.

oh we are we are... every night I light candles to tham thanking the messiah for sending them to us.....

the  arse end of the world... we didnt deserve them

cods wrote on Jun 1^st, 2011 at 6:02pm:

darkhall67 wrote on Jun 1st, 2011 at 1:52pm: creep wrote on Jun 1st, 2011 at 1:21pm: The left always cripple Australia. With our GDP dropping then see we could be heading towards a recession (which we have to have!) But this was primarily due to teh Queensland floods (not global warming!) Just wait until Gillard's effect hits the next quarter! You should be down on your knees thanking Paul Keating and Bob Hawke for their role in saving this economy from ruin. oh we are we are... every night I light candles to tham thanking the messiah for sending them to us..... the  arse end of the world... we didnt deserve them

You've never said a truer word.

Blame it on the weather.  

The summer's floods and cyclones across northern Australia have combined to send the economy into its biggest reverse in two decades.   :(



Figures out today confirmed the slowdown that's been signalled since January when much of Queensland was under water and the big coalmines and other pits stopped shipping commodities to the hungry markets of Asia.


The economy shrank 1.2 per cent in the first three months of the year, the first negative result since the December quarter of 2008 when the world was emerging from the global financial crisis.

The March quarter contraction is the largest since the first three months of 1991 - the last time Australia endured a recession.

The quarterly drop, though, is widely expected to be temporary as reconstruction work begins in Queensland and other regions hit by savage weather. The mining boom is also reigniting as massive new iron ore, coal and gas projects get under way.

The March quarter's reversal followed a revised 0.8 per cent expansion in the gross domestic product in the December quarter, Australian Bureau of Statistics data show. A consensus of analysts polled by Bloomberg predicted the economy would shrink 1.1 per cent in the quarter.

At an annualised pace, the economy expanded 1 per cent, in line with forecasts, slowing from the 2.7 per cent pace clocked at the end of last year.

Investors took heart from the numbers, sending the dollar up as much as half a US cent to $US1.073 in part because the contraction wasn't as bad as some economists feared.

Investment bank Goldman Sachs, for instance, had tipped a 2 per cent contraction for the quarter, which would have made it the worst three months since 1974.

cods wrote on Jun 1^st, 2011 at 10:54am:

Julia Gillard met with the Queen in England .. She asked her, "Your Majesty, how do you run such an efficient government? Are there any tips you can give to me"  "Well," said the Queen, "the most important thing is to surround yourself with intelligent people.." Julia frowned, and then asked, "But how do I know the people around me are really intelligent?" The Queen took a sip of tea. "Oh, that's easy; you just ask them to answer an intelligent riddle." The Queen pushed a button on her intercom "Please send David Cameron in here, would you?" David Cameron walked into the room and said, "Yes, Your Majesty?" The Queen smiled and said, "Answer me this please, David, your mother and father have a child. It is not your brother and it is not your sister. Who is it?" Without pausing for a moment, David Cameron answered, "That would be me." "Yes! Very good," said the Queen... Julia went back home to Australia and asked Wayne Swan, her Deputy Prime Minister the same question. "Wayne , answer this for me. Your mother and your father have a child. It's not your brother and it's not your sister. Who is it?" "I'm not sure," said Wayne . "Let me get back to you on that one." He went to his advisors and asked every one, but none could give him an answer. Finally, he ended up in the men's room and recognised Tony Abbott's shoes in the next stall. Wayne asked, "Tony, can you answer this for me? Your mother and Father have a child and it's not your brother or your sister. Who is it?" Tony yelled back, "That's easy, it's me!" Wayne smiled, and said, "Thanks!" Then, he went back to speak with Julia. "Say, I did some research and I have the answer to that riddle. It's Tony Abbott" Julia got up, stomped over to Swan, and angrily yelled into his face, "No, You idiot! It's the English Prime Minister, David Cameron!" AND THAT, MY FRIENDS, IS PRECISELY its an oldie but a goody!

Got to love that one cods, what a goodin.

Sprintcyclist wrote on Jun 1^st, 2011 at 10:05am:

Quote: Australia's economy is expected to record its sharpest slowdown since Gough Whitlam was Prime Minister following a collapse in coal exports caused by the Queensland floods and cyclone Yasi early this year. Investment bank Goldman Sachs predicted Australia's economy will have shrunk by as much as 2 per cent in the first quarter of the year, a big turnaround from the 0.7 per cent expansion in the final quarter of 2010. A slump of that size  - if confirmed when official figures are released later this morning - would mark the steepest contraction in the economy since the June quarter of 1974, the year before the dismissal of prime minister Gough Whitlam. "There is no escaping that it is going to be a very weak outcome," the Goldman Sachs report said. "Though the Reserve Bank has declared its intention to look through flood disruptions, the size of the likely GDP contraction implies that it has either miscalculated its size or overestimated the strength of the underlying economy."................ http://www.smh.com.au/business/economy-to-slump-most-since-whitlam-was-pm-20110601-1ffcn.html

Please don't tell me you are an economist. You answer your own questions with the statement you look to vilify with. Have you even a small understanding how good our economy is comparatively to other developed countries. You really don't get what is happening world wide do you.

Those Australians that are feeling the pain must reflect on what they have done to themselves instead of complaining about the government. We lived a world of debt during the 00's. While Costello worked his but off fighting Howard the spend thrift to pay debt off, the community ran up debt like never before. Over priced housing and multi credit cards. So who is lying to themselves???

Please don't tell me you are an economist. You answer your own questions with the statement you look to vilify with. Have you even a small understanding how good our economy is comparatively to other developed countries. You really don't get what is happening world wide do you.

Those Australians that are feeling the pain must reflect on what they have done to themselves instead of complaining about the government. We lived a world of debt during the 00's. While Costello worked his but off fighting Howard the spend thrift to pay debt off, the community ran up debt like never before. Over priced housing and multi credit cards. So who is lying to themselves???[/quote]


No... you are wrong.... we ran up debt under Howard because unlike Keating's Govt we were feeling secure that the govt had their spending under control.....

The reason that this is not happening now is because middle australia knows that Julia wants their money.... Labor always does.

Labor cannot control their spending and the only way that they had ALL of this money to spend was that Howard saved it and spent it wisely.......

NOT SO ANYMORE!!!!!

Schools, insulation, you name it ,,, LABOR are a wasteful Govt and they have spent our nest egg and middle Australia know it.....

cods wrote on Jun 1^st, 2011 at 10:54am:

Julia Gillard met with the Queen in England .. She asked her, "Your Majesty, how do you run such an efficient government? Are there any tips you can give to me"  "Well," said the Queen, "the most important thing is to surround yourself with intelligent people.." Julia frowned, and then asked, "But how do I know the people around me are really intelligent?" The Queen took a sip of tea. "Oh, that's easy; you just ask them to answer an intelligent riddle." The Queen pushed a button on her intercom "Please send David Cameron in here, would you?" David Cameron walked into the room and said, "Yes, Your Majesty?" The Queen smiled and said, "Answer me this please, David, your mother and father have a child. It is not your brother and it is not your sister. Who is it?" Without pausing for a moment, David Cameron answered, "That would be me." "Yes! Very good," said the Queen... Julia went back home to Australia and asked Wayne Swan, her Deputy Prime Minister the same question. "Wayne , answer this for me. Your mother and your father have a child. It's not your brother and it's not your sister. Who is it?" "I'm not sure," said Wayne . "Let me get back to you on that one." He went to his advisors and asked every one, but none could give him an answer. Finally, he ended up in the men's room and recognised Tony Abbott's shoes in the next stall. Wayne asked, "Tony, can you answer this for me? Your mother and Father have a child and it's not your brother or your sister. Who is it?" Tony yelled back, "That's easy, it's me!" Wayne smiled, and said, "Thanks!" Then, he went back to speak with Julia. "Say, I did some research and I have the answer to that riddle. It's Tony Abbott" Julia got up, stomped over to Swan, and angrily yelled into his face, "No, You idiot! It's the English Prime Minister, David Cameron!" AND THAT, MY FRIENDS, IS PRECISELY its an oldie but a goody!

lol thanks for the laugh. I could imagine in all the way through and escpecially when Swanny went back to Juliar.

cods wrote on Jun 1^st, 2011 at 10:54am:

Julia Gillard met with the Queen in England .. She asked her, "Your Majesty, how do you run such an efficient government? Are there any tips you can give to me"  "Well," said the Queen, "the most important thing is to surround yourself with intelligent people.." Julia frowned, and then asked, "But how do I know the people around me are really intelligent?" The Queen took a sip of tea. "Oh, that's easy; you just ask them to answer an intelligent riddle." The Queen pushed a button on her intercom "Please send David Cameron in here, would you?" David Cameron walked into the room and said, "Yes, Your Majesty?" The Queen smiled and said, "Answer me this please, David, your mother and father have a child. It is not your brother and it is not your sister. Who is it?" Without pausing for a moment, David Cameron answered, "That would be me." "Yes! Very good," said the Queen... Julia went back home to Australia and asked Wayne Swan, her Deputy Prime Minister the same question. "Wayne , answer this for me. Your mother and your father have a child. It's not your brother and it's not your sister. Who is it?" "I'm not sure," said Wayne . "Let me get back to you on that one." He went to his advisors and asked every one, but none could give him an answer. Finally, he ended up in the men's room and recognised Tony Abbott's shoes in the next stall. Wayne asked, "Tony, can you answer this for me? Your mother and Father have a child and it's not your brother or your sister. Who is it?" Tony yelled back, "That's easy, it's me!" Wayne smiled, and said, "Thanks!" Then, he went back to speak with Julia. "Say, I did some research and I have the answer to that riddle. It's Tony Abbott" Julia got up, stomped over to Swan, and angrily yelled into his face, "No, You idiot! It's the English Prime Minister, David Cameron!" AND THAT, MY FRIENDS, IS PRECISELY its an oldie but a goody!

And, in respect of the UK's Economic crisis, the British conservatives fix is a massive Aus-terity program, which is causing the UK Economy to waeken further.

Whereas the Australian Conservatives (the Liberals), well they want massive Aus-terity, Plus Interest rate increases, which would completely decimate the OZ Economy.  

Labor's saving grace has been that they have managed to steer us through the GFC better than any other government in the world, and the Libs would have been a disaster under Abbott, which would have seen massive rises in business failures, and unemployment.

If you believe what Abbott says, then you would have to reject him as a worthy economic manager.

cods wrote on Jun 1^st, 2011 at 6:02pm:

darkhall67 wrote on Jun 1st, 2011 at 1:52pm: creep wrote on Jun 1st, 2011 at 1:21pm: The left always cripple Australia. With our GDP dropping then see we could be heading towards a recession (which we have to have!) But this was primarily due to teh Queensland floods (not global warming!) Just wait until Gillard's effect hits the next quarter! You should be down on your knees thanking Paul Keating and Bob Hawke for their role in saving this economy from ruin. oh we are we are... every night I light candles to tham thanking the messiah for sending them to us..... the  arse end of the world... we didnt deserve them

Yes they gave us the recession that we didn't have to have!

The Rudd/Gillard government has been the worst in Australia's history.
They have not achieved anything whatsoever, except massive debts!

Thankfully, it is coming to an end.

And once again, it will be left up to the Coalition to clean up the ALP mess.


This will be a good lesson for all voters not to vote ALP ever again.

cods wrote on Jun 1^st, 2011 at 10:54am:

Julia Gillard met with the Queen in England .. She asked her, "Your Majesty, how do you run such an efficient government? Are there any tips you can give to me"  "Well," said the Queen, "the most important thing is to surround yourself with intelligent people.." Julia frowned, and then asked, "But how do I know the people around me are really intelligent?" The Queen took a sip of tea. "Oh, that's easy; you just ask them to answer an intelligent riddle." The Queen pushed a button on her intercom "Please send David Cameron in here, would you?" David Cameron walked into the room and said, "Yes, Your Majesty?" The Queen smiled and said, "Answer me this please, David, your mother and father have a child. It is not your brother and it is not your sister. Who is it?" Without pausing for a moment, David Cameron answered, "That would be me." "Yes! Very good," said the Queen... Julia went back home to Australia and asked Wayne Swan, her Deputy Prime Minister the same question. "Wayne , answer this for me. Your mother and your father have a child. It's not your brother and it's not your sister. Who is it?" "I'm not sure," said Wayne . "Let me get back to you on that one." He went to his advisors and asked every one, but none could give him an answer. Finally, he ended up in the men's room and recognised Tony Abbott's shoes in the next stall. Wayne asked, "Tony, can you answer this for me? Your mother and Father have a child and it's not your brother or your sister. Who is it?" Tony yelled back, "That's easy, it's me!" Wayne smiled, and said, "Thanks!" Then, he went back to speak with Julia. "Say, I did some research and I have the answer to that riddle. It's Tony Abbott" Julia got up, stomped over to Swan, and angrily yelled into his face, "No, You idiot! It's the English Prime Minister, David Cameron!" AND THAT, MY FRIENDS, IS PRECISELY its an oldie but a goody!

LOL


Love the extra twist Cods

beware wrote on Jun 1^st, 2011 at 7:08pm:

Please don't tell me you are an economist. You answer your own questions with the statement you look to vilify with. Have you even a small understanding how good our economy is comparatively to other developed countries. You really don't get what is happening world wide do you. Those Australians that are feeling the pain must reflect on what they have done to themselves instead of complaining about the government. We lived a world of debt during the 00's. While Costello worked his but off fighting Howard the spend thrift to pay debt off, the community ran up debt like never before. Over priced housing and multi credit cards. So who is lying to themselves??? No... you are wrong.... we ran up debt under Howard because unlike Keating's Govt we were feeling secure that the govt had their spending under control..... The reason that this is not happening now is because middle australia knows that Julia wants their money.... Labor always does. Labor cannot control their spending and the only way that they had ALL of this money to spend was that Howard saved it and spent it wisely....... NOT SO ANYMORE!!!!! Schools, insulation, you name it ,,, LABOR are a wasteful Govt and they have spent our nest egg and middle Australia know it.....

[/quote]


OO, well some truth and much fantasy. Yes we spent wild because COSTELLO was hard at work but this neither justifies the stupid and self indulgent spending and expansion of debt nor makes it a good economic strategy. As the GFC showed us it will end in tears.

The current labor government have followed the normal pattern of spending on infrastructure that the liberals won't. The difference was the stimulas to counter the GFC. But i would never expect conservatives to understand the opinion of the majority of the worlds economists about how successful this was for our country as the conservative lobby always takes the fringe way out line to have something to argue about.

creep wrote on Jun 1^st, 2011 at 8:14pm:

cods wrote on Jun 1st, 2011 at 6:02pm: darkhall67 wrote on Jun 1st, 2011 at 1:52pm: creep wrote on Jun 1st, 2011 at 1:21pm: The left always cripple Australia. With our GDP dropping then see we could be heading towards a recession (which we have to have!) But this was primarily due to teh Queensland floods (not global warming!) Just wait until Gillard's effect hits the next quarter! You should be down on your knees thanking Paul Keating and Bob Hawke for their role in saving this economy from ruin. oh we are we are... every night I light candles to tham thanking the messiah for sending them to us..... the  arse end of the world... we didnt deserve them Yes they gave us the recession that we didn't have to have!

And by doing so, saved us from a FAR worse one.

Also, interest rates, inflation, debt and  unemployment
were far lower when Keating lost power than they were
when Hawke WON power.

So they must have done SOMETHING right...er...left...er...

Kat wrote on Jun 1^st, 2011 at 8:25pm:

creep wrote on Jun 1st, 2011 at 8:14pm: cods wrote on Jun 1st, 2011 at 6:02pm: darkhall67 wrote on Jun 1st, 2011 at 1:52pm: creep wrote on Jun 1st, 2011 at 1:21pm: The left always cripple Australia. With our GDP dropping then see we could be heading towards a recession (which we have to have!) But this was primarily due to teh Queensland floods (not global warming!) Just wait until Gillard's effect hits the next quarter! You should be down on your knees thanking Paul Keating and Bob Hawke for their role in saving this economy from ruin. oh we are we are... every night I light candles to tham thanking the messiah for sending them to us..... the  arse end of the world... we didnt deserve them Yes they gave us the recession that we didn't have to have! And by doing so, saved us from a FAR worse one. Also, interest rates, inflation, debt and  unemployment were far lower when Keating lost power than they were when Hawke WON power. So they must have done SOMETHING right...er...left...er...

Oh the hypothetical claim.

LOL

creep wrote on Jun 1^st, 2011 at 8:14pm:

cods wrote on Jun 1st, 2011 at 6:02pm: darkhall67 wrote on Jun 1st, 2011 at 1:52pm: creep wrote on Jun 1st, 2011 at 1:21pm: The left always cripple Australia. With our GDP dropping then see we could be heading towards a recession (which we have to have!) But this was primarily due to teh Queensland floods (not global warming!) Just wait until Gillard's effect hits the next quarter! You should be down on your knees thanking Paul Keating and Bob Hawke for their role in saving this economy from ruin. oh we are we are... every night I light candles to tham thanking the messiah for sending them to us..... the  arse end of the world... we didnt deserve them Yes they gave us the recession that we didn't have to have!

Foolish foolish man.




If you had done any research or study into economics and especially the Australian economy under hawke and keating you would have found out that YES, it WAS the recession we had to have.


And thanks to it , keating saved us from becoming a banana republic (ANOTHER of his sayings that is often misquoted by the uneducated right as meaning he turned us into one , rather than the truth- he was WARNING us we could become one , and then he took steps to prevent it.)


Thanks Mr Keating.

mozzaok wrote on Jun 1^st, 2011 at 8:02pm:

Labor's saving grace has been that they have managed to steer us through the GFC better than any other government in the world, and the Libs would have been a disaster under Abbott, which would have seen massive rises in business failures, and unemployment. If you believe what Abbott says, then you would have to reject him as a worthy economic manager.

talk about taking leeps.

progressiveslol wrote on Jun 1^st, 2011 at 8:44pm:

mozzaok wrote on Jun 1st, 2011 at 8:02pm: Labor's saving grace has been that they have managed to steer us through the GFC better than any other government in the world, and the Libs would have been a disaster under Abbott, which would have seen massive rises in business failures, and unemployment. If you believe what Abbott says, then you would have to reject him as a worthy economic manager. talk about taking leeps.

LOL
Naaa he was speaking about Labor in jest.

Quote:

the left has crippled our economy

Why the dishonesty when the story clearly states that the disasters of flood etc is the cause of the downturn and clearly nothing that any government would have been able to prevent.

Criticism when it’s due but paranoid inane dishonest rubbish is not particularly effective.

mozzaok wrote on Jun 1^st, 2011 at 8:02pm:

Labor's saving grace has been that they have managed to steer us through the GFC better than any other government in the world, and the Libs would have been a disaster under Abbott, which would have seen massive rises in business failures, and unemployment. If you believe what Abbott says, then you would have to reject him as a worthy economic manager.

You seem to be saying that Mr Abbotts economic credentials rely on the fact that he can not be believed?

.

Dnarever wrote on Jun 1^st, 2011 at 9:27pm:

Quote: the left has crippled our economy Why the dishonesty when the story clearly states that the disasters of flood etc is the cause of the downturn and clearly nothing that any government would have been able to prevent. Criticism when it’s due but paranoid inane dishonest rubbish is not particularly effective.

Not entirely true there.
Ross Garnaut made the suggestion that man made global warming caused the Queensland floods!

creep wrote on Jun 1^st, 2011 at 9:34pm:

Dnarever wrote on Jun 1st, 2011 at 9:27pm: Quote: the left has crippled our economy Why the dishonesty when the story clearly states that the disasters of flood etc is the cause of the downturn and clearly nothing that any government would have been able to prevent. Criticism when it’s due but paranoid inane dishonest rubbish is not particularly effective. Not entirely true there. Ross Garnaut made the suggestion that man made global warming caused the Queensland floods!

So it was Howards fault then? Stretching a bit I would think.

creep wrote on Jun 1^st, 2011 at 9:34pm:

Dnarever wrote on Jun 1st, 2011 at 9:27pm: Quote: the left has crippled our economy Why the dishonesty when the story clearly states that the disasters of flood etc is the cause of the downturn and clearly nothing that any government would have been able to prevent. Criticism when it’s due but paranoid inane dishonest rubbish is not particularly effective. Not entirely true there. Ross Garnaut made the suggestion that man made global warming caused the Queensland floods!

And he is, as usual, talking through his hat.

Dnarever wrote on Jun 1^st, 2011 at 9:41pm:

creep wrote on Jun 1st, 2011 at 9:34pm: Dnarever wrote on Jun 1st, 2011 at 9:27pm: Quote: the left has crippled our economy Why the dishonesty when the story clearly states that the disasters of flood etc is the cause of the downturn and clearly nothing that any government would have been able to prevent. Criticism when it’s due but paranoid inane dishonest rubbish is not particularly effective. Not entirely true there. Ross Garnaut made the suggestion that man made global warming caused the Queensland floods! So it was Howards fault then? Stretching a bit I would think.

Howard's Keating's Hawke's, Garnaut didn't attribute it to anyone in particular.

I'd rather just go with Mother Nature.

Wow, the "left" is now responsible for natural disasters?

BTW, it'd be nice if you could at least show a little political understanding: the ALP is a centre-right party.

sir prince duke alevine wrote on Jun 1^st, 2011 at 10:23pm:

Wow, the "left" is now responsible for natural disasters? BTW, it'd be nice if you could at least show a little political understanding: the ALP is a centre-right party.

The ALP centre-right party(???) spent all our money and when the sh!! hit the fan could not pay for the damage.... now there is NO money left to help when it really matters!!!

THE ALP HAVE SPENT ALL THE MONEY!!

beware wrote on Jun 1^st, 2011 at 11:11pm:

The ALP centre-right party(???) spent all our money and when the sh!! hit the fan could not pay for the damage.... now there is NO money left to help when it really matters!!! THE ALP HAVE SPENT ALL THE MONEY!!

Really? Shivers... so, should we close up shop and move then?

;D

Time to man those lifeboats....

Equitist wrote on Jun 1^st, 2011 at 11:35pm:

Time to man those lifeboats....

I'll go get the paddles.  

;D

mozzaok wrote on Jun 1^st, 2011 at 8:02pm:

Labor's saving grace has been that they have managed to steer us through the GFC better than any other government in the world, .

Yes isn't it just amazing.

Imagine being able to 'steer through a GFC' in a country where you sit on a pile of natural resources, dig it out of the ground and wholesale it to the Chinese.

Funnily enough Kuwait and Saudi Arabia also managed to steer through the GFC as well.

I think they took the 'dig out of ground and sell to foreigners' option as well.

A Year 10 economics student could run the Australian economy on a surplus.

Comparing to the other nations, eg Northern Europe, which are principally run through service based economics is chalk and cheese.

sir prince duke alevine wrote on Jun 2^nd, 2011 at 12:11am:

Equitist wrote on Jun 1st, 2011 at 11:35pm: Time to man those lifeboats.... I'll go get the paddles.   ;D

just goes to show the two glued on... think its hilarious we are in debt up to our eyeballs...have wasted more than any other govt in our history with zilch to show for it...

are now relying on getting the biggest TAX through to save their sorry souls..whilst selling the evil carbon creating coal to overseas countries...

all the while trading in human beings with a country well known for its cruelty!!!!!!!.. the new ALP ."Trust us" policy...

we are now officially heading for a recession.....OMG..

swanny is depending on other devasted nations. Japan and N.Z.. to keep us afloat.with their rebuilding...he didnt mention Qld perhaps they are still stuck in the mud with their rebuilding.


everything is on a downturn even agriculture.


man the lifeboats! many a truth spoken in jest.......jest whilst ye may.


its still only 3.5. years and we have come down to this??does it seem longer????? never mind we will have the NBN eventually.

beware wrote on Jun 1^st, 2011 at 11:11pm:

sir prince duke alevine wrote on Jun 1st, 2011 at 10:23pm: Wow, the "left" is now responsible for natural disasters? BTW, it'd be nice if you could at least show a little political understanding: the ALP is a centre-right party. The ALP centre-right party(???) ['quote] LOL yeah in their dreams! [quote author=beware link=1306886702/30#32 date=1306933901] spent all our money and when the sh!! hit the fan could not pay for the damage.... now there is NO money left to help when it really matters!!! THE ALP HAVE SPENT ALL THE MONEY!!

It's Labor as usual.
All of Australia suffers from Labor Pains.

Stimulus packages can save Australia: IMF
Phillip Coorey | March 20, 2009 - 5:15AM

THE outlook for the international economy has been downgraded significantly, raising fears that Australia's already bleak unemployment, revenue and growth forecasts will deteriorate further.

The latest outlook published by the International Monetary Fund last night says the global economy is expected to contract this year for the first time in 60 years.

It also backs the stimulus packages introduced by many governments, including the Commonwealth, but says recovery depends on further action.

The IMF says advanced economies will suffer "deep recessions" this year, and forecasts growth in the US, Europe and Japan will be slower than it had predicted.

The Government will take political comfort from the IMF's view that recovery depends on further policy actions along the lines of those already taken in Australia, including measures to buttress the banks and stimulate the economy with packages equivalent to 2 per cent of GDP

The Opposition stepped up its criticism of the Government's handling of the economy.

"Every step you have taken has made things worse," said the Opposition Leader, Malcolm Turnbull. "Your incompetence is a disgrace."

He likened the Australian Business Investment Partnership, or so-called Ruddbank - designed to plug funding gaps in commercial property - to a return to the Labor state bank fiascos of the 1980s that exposed taxpayers to failed commercial property ventures.

"Talk about a dog returning to its own vomit," Mr Turnbull said.

Mr Rudd said the IMF figures would expose his opponent as existing "in a universe completely disconnected with what is actually going on in the global economy and its roll-on consequences for Australians, their jobs, their families and their communities".

http://www.brisbanetimes.com.au/news/national/stimulus-packages-can-save-australia-imf/2009/03/20/1237055042624.html







Australia leads global economic recovery
Washington correspondent Kim Landers
Thu Apr 22, 2010

A new report from the International Monetary Fund (IMF) says Australia is one of the leaders as the global economy recovers from a severe recession.

The IMF has released its twice yearly report on the world economy as Treasurer Wayne Swan prepares to attend meetings of the G20 and the IMF in Washington.

The IMF says that after enduring what became known as the Great Recession, the world's economy is undergoing a rapid, but patchy, recovery.

The chief economist at the International Monetary Fund in Washington, Olivier Blanchard, says the global recovery has evolved better than expected.

But he also says new and formidable challenges are looming.

"Achieving strong, sustained and balanced growth will not be easy," he said.

"It will require more work, mainly fiscal consolidation in advanced countries, exchange rate adjustments and rebalancing of demand across the world."

The IMF report says the recovery in major advanced economies will be "relatively sluggish" and the United States is off to a better start than Europe and Japan.

However Australia has been singled out for praise.

"Australia and the newly industrialised Asian economies are off to a strong start and will likely stay in the lead," the report says.

http://www.abc.net.au/news/stories/2010/04/22/2879454.htm






IMF praises Australia
Monday, May 2, 2011

On the eve of the Reserve Bank board meeting to consider interest rates, Australia has been held out as a paragon of economic virtue

While the strong Australian dollar flattens part of the economy, the International Monetary Fund has only praise for policymakers' hands-off approach.

The IMF says Asia should follow Australia's example.

http://www.abc.net.au/lateline/business/items/201105/s3205880.htm

The cheersquad cant help themselves..the dip in the economy was due to devastating weather conditions that will get much worse as climate change takes hold.
Even more proof that we cant afford to do nothing..the deniers might not like the truth but they cant ignore it   :D

beware wrote on Jun 1^st, 2011 at 11:11pm:

sir prince duke alevine wrote on Jun 1st, 2011 at 10:23pm: Wow, the "left" is now responsible for natural disasters? BTW, it'd be nice if you could at least show a little political understanding: the ALP is a centre-right party. The ALP centre-right party(???) spent all our money and when the sh!! hit the fan could not pay for the damage.... now there is NO money left to help when it really matters!!! THE ALP HAVE SPENT ALL THE MONEY!!

We could have followed the Liberals recomendations and just given some of the money to their mates and keep most of it but then again that would have been likley to lead to a recession.

This would have eaten up the funds which were saved and we would have been left to cope with the natural disasters virtually at the same time as trying to claw our way out of recession. Yeah a much better plan.
.

cods wrote on Jun 2^nd, 2011 at 6:50am:

sir prince duke alevine wrote on Jun 2nd, 2011 at 12:11am: Equitist wrote on Jun 1st, 2011 at 11:35pm: Time to man those lifeboats.... I'll go get the paddles.   ;D just goes to show the two glued on... think its hilarious we are in debt up to our eyeballs...have wasted more than any other govt in our history with zilch to show for it...

... aside from the near LOWEST unemployment rate in the WORLD - and the only OECD partner NEVER to have gone into recession


You ungrateful sods people have NO idea how well off you AREi

LOL...it would seem as though my ironic suggestion that Aussies should become 'boat people' went over a few heads...

Not surprising, though, when one is dealing with some who represent the lowest common denominator as peddled by Abbott & Co...

Equitist wrote on Jun 2^nd, 2011 at 9:58pm:

LOL...it would seem as though my ironic suggestion that Aussies should become 'boat people' went over a few heads... Not surprising, though, when one is dealing with some who represent the lowest common denominator as peddled by Abbott & Co...

Apparently Auckland has the most boat people.

buzzanddidj wrote on Jun 2^nd, 2011 at 9:53pm:

cods wrote on Jun 2nd, 2011 at 6:50am: sir prince duke alevine wrote on Jun 2nd, 2011 at 12:11am: Equitist wrote on Jun 1st, 2011 at 11:35pm: Time to man those lifeboats.... I'll go get the paddles.   ;D just goes to show the two glued on... think its hilarious we are in debt up to our eyeballs...have wasted more than any other govt in our history with zilch to show for it... ... aside from the near LOWEST unemployment rate in the WORLD - and the only OECD partner NEVER to have gone into recession You ungrateful sods people have NO idea how well off you ARE

All thanks to the Howard/Costelli Govt that left us with money in the bank..... well guess what, ITS GONE!!!

beware wrote on Jun 2^nd, 2011 at 10:52pm:

All thanks to the Howard/Costelli Govt that left us with money in the bank..... well guess what, ITS GONE!!!

I've got the flares, the life jackets and the paddles.  All ready to set sail?

where did the money go?..what GFC?...what floods?