Maqqa wrote on May 29
th, 2012 at 11:02am:
It's not about "in my eyes". Its the truth and it is a distortion because our banks were never caught up in the triggers that set of the GFC. We only experienced the ripple effect.
And yet our banks continue to bemoan the cost of money.
Are you saying they are lying?
It's true thanks to Costello & APRA they were not exposed to as much junk stock but the cost of lending is global so they were and still are exposed to those forces.
Maqqa wrote on May 29
th, 2012 at 11:02am:
Then you don't understand basic economic theories. Neither did Swan for that matter when Turnbull mentioned about the "two-speed economy" and he didn't know what it meant. There are huge differences between an emerging economy and an established economy. If you don't know - then admit it and I'll explain it to you.
Yet you claim we cannot compare established with established.
When we(well Swan) compares our economy to UK/USA, you have said we should look to economies like China/India.
So when I say then we should use those economies to re-acess the past performance of your favoured party suddenly we cant.
Maqqa wrote on May 29
th, 2012 at 11:02am:
Lets compare it to economies unaffected by the triggers of the GFC. Or compare it by GDP. Or compare economic indicators from one government to the next. Debt, surpluses, interest rates, unemployment, CPI. Lets have a look at the bigger picture rather than allowing Swan to deceive you by focusing on one or two factors
You just cannot cut out the GFC as you would like, I agree with your acessment of only periferial damage to us but we are still effected.
You cannot compare key economic indicators from good times to indictors of bad or recovering.
Apples & oranges my friend.
Maqqa wrote on May 29
th, 2012 at 11:02am:
Their economy and social systems is different to ours. There demography and geography is also different than ours which changes the policies you implement. case in point was when Rudd compared Singapore's implemented broadband technology against Aust's broadband technology. The land size of Singapore is the difference ie geography.
On this we find common ground
Maqqa wrote on May 29
th, 2012 at 11:02am:
Our democracy was originally based on Christian values which evolved into the system it is now. These Arab countries have based their system on Sharia law and/or Islamic belief. Can't compare! Even if you do comapre - need to compare at least GDP/capita so see how individuals are doing against the country as a whole
There's that ground again