Whether you like the fact or not, this is my take -

The global economy is made up on three interlinked regions and trading blocs.
NAFTA, The EU and China. I could say "Asia" but I really think now China is big enough to override anything in Asia, including Japan.

Australia is in none of them - not ASEAN, not EU, not NAFTA.
Therefore Australia will not dictate terms on global credit and trading - Australia will basically be affected by them.

Thus, Australia's economic well-being will principally be decided in Beijing and not Canberra.

You could model the pottery wheel all you like - and overall Australia has not done a bad job - but without the Chinese foot on the pedal - it would all come crashing down pretty quickly.

There is no need for austerity measures in Australia I agree.
However there is in Europe and that is the correct policy.

In Britain we suffered badly under a decade of Labour rule (debt grew out of control - as it tends to under that party) and last time it took Mrs Thatcher to sort it out.
This time the job falls on the shoulders of Dangerous Dave and I think he's actually doing a reasonable job.

perceptions_now wrote on Feb 18^th, 2012 at 8:54am:


one of your more confusing posts nedwin/pinhead. you cant have it both ways yet you demand your right to do so. You cant reduce debt without reducing spending yet you oppose reducing spending and reducing debt.

The european problem is simply that now there is no hoice. after decades of debt-driven incompetent socialism, their debt is so high that austerity is their ONLY option.

but you certainly are a weird one. you complain about debt but complain about any efforts to reduce it. You and pauline hanson probably think the solution is to just print more money.

you really are silly at times.

longweekend58 wrote on Feb 18^th, 2012 at 5:09pm:


What I don't know LongWeakend, is what is worse -
1) Your lack of ability to string a sentence together, without getting your 3 thumbs in the road & making your usual spelling mistakes.
2) Your inability to make a point, without running others down.
3) Your lack of comprehension, on & of the written language.
4) Your inability to get out of the past & be able to comprehend what is happening now & what is influencing events now & in the future.

There, now are you happy, that I've done a YOU?

Now that you're happy, surely even you can understand this -

Australia doesn't need a general AUS-terity program, its Debt is NOT out of control, it is quite reasonable, but we will still need some very well targeted Tax increases & Expenditure reductions, as a result of Global Problems , which started in the USA & Europe and are now moving on to China & elsewhere & the Macro factors which are now in play!

However, Europe, the USA & Japan have already moved past the point of no return and because of issues relating to Demographics, Peak Energy, Peak Debt & Climate Change, they are already on an irreversible Economic slide downhill, which is set to last several decades, at least!

To impose a general AUS-terity program on those Economies, at this point in the game, would be akin to throwing kerosene onto a fire to put in out.

However, that is being done, that will be done & YOU WOULD ALSO DO IT, but it IS STILL AN IDIOTIC MOVE & IT WILL EXACERBATE (make worse) THE DECLINE THAT THESE COUNTRIES WILL EXPERIENCE!!! A dose of general AUS-terity, as distinct from a very specific bunch of measures in Australia, would also act to make our situation worse than it may otherwise be, as it would act to exacerbate a Declining Demand for Goods & service, which is coming anyway, due to the above Macro factors & the worsening Global situation. 


Btw, I'm still not Nedwin and that will not change, no matter how many times you say it!
Oh & if Nedwin is watching, I wish him well!

longweekend58 wrote on Feb 19^th, 2012 at 6:34pm:


Do you really think there is a solution, where the problems will be solved?

Are you that naive? Btw, that's a rhetorical question!

With Greece Bond holders already taking a 70% hair cut, Greece have already defaulted, but it has not been declared a default because that would involve major US & European Banks taking a massive hits via CDS & derivatives markets and send Global financial markets 
into an immediate frenzy.

However, whether it is Greece, Italy or some other country that day can not be permanently relegated, it can only be delayed a little more and time is what is being sort, in the belief that "something" will solve this "Gordian Knot" AND GIVEN THE GLOBAL MACRO FACTORS IN PLAY, THAT JUST ISN'T GOING TO HAPPEN! 

So, in short, there is only one option, but no one wants it happening "on their watch", so they are busily trying to kick the can, further down the road.

Problem is, that can not continue and when TSHTF, this time really will be different!



Btw, your assertions about me & Nedwin are like your thoughts on Economics, they are simply WRONG!

Its alright - after the next election the gloves are off with the Government Greed - its war - no safety, security, stability and regulation - no work.

olde.sault wrote on Feb 14^th, 2012 at 6:59am:


Yes and you would have been burned as a Witch...What is your point???

corporate_whitey wrote on Feb 23^rd, 2012 at 5:43pm:


what are you going to do? use your massive girth to blockade parliament? that wont work, theyve got cranes that can lift ships. they can still move you.