Australian Politics Forum - Abbott to deregulate the banks ?

John Smith

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Re: Abbott to deregulate the banks ?
Reply #15 - Jun 21^st, 2014 at 9:42am

Armchair_Politician wrote on Jun 21^st, 2014 at 7:03am:

John Smith wrote on Jun 20^th, 2014 at 10:30pm:

Grendel wrote on Jun 20^th, 2014 at 9:29pm:

Then rest happy, that at this stage the 2 people having spoken about this from the Liberals; Abbott and Robb say they are not going to do it.

they also said they weren't going to introduce any new taxes, weren't going to cut health and education, weren't going to touch pensions, weren't going to

oh bugger, it there's just to many to list ... you get the drift.

... and Gillard said there'd be no carbon tax!

ok, Gillard broke one promise (due to a change in circumstances) and Abbott has lied about single one of his promises .... yet you've condemed Gillard a million times for hers but not said one bad word about Abbotts broken promises .... Cheesy

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Kytro

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Re: Abbott to deregulate the banks ?
Reply #16 - Jun 21^st, 2014 at 12:11pm

Andrei.Hicks wrote on Jun 20^th, 2014 at 10:49pm:

You do realise they took over from a Government that increased debt every single year (despite promising not to - but that's another story).

Cuts were necessary.

Why did the last lot run up so much debt? That's the question.

Well primarily the debt was caused because the economic downturn reduced income. Cutting spending during or shortly after the crisis would have been very risky.

It's also not "so much". It is manageable. This is clear because there is little difference between the overall budgets are minimal in terms of cost.

The cuts are not necessary per se, and certainly not targeted where they are. There are other options, and this is why the budget is so unpopular.

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Lobo

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Re: Abbott to deregulate the banks ?
Reply #17 - Jun 21^st, 2014 at 2:43pm

ian wrote on Jun 20^th, 2014 at 11:56pm:

cods wrote on Jun 20^th, 2014 at 11:16pm:

the real question is andrei..

WHAT DID WE GET FOR THAT WHOPPING BIG DEBT....

bugger all.

still got your pension Cods? Look around at the european countries holding out the begging bowl. Consider yourself lucky.

And the $900 stimulus payment?
And the heavily discounted insulation in your ceiling?

Wink

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"What's in store for me in the direction I don't take?"-Jack Kerouac.

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Lobo

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Re: Abbott to deregulate the banks ?
Reply #18 - Jun 21^st, 2014 at 2:46pm

Andrei.Hicks wrote on Jun 20^th, 2014 at 10:49pm:

You do realise they took over from a Government that increased debt every single year (despite promising not to - but that's another story).

Cuts were necessary.

Why did the last lot run up so much debt? That's the question.

Which has to do exactly what with deregulating the banking system??

Cheesy

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"What's in store for me in the direction I don't take?"-Jack Kerouac.

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John Smith

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Re: Abbott to deregulate the banks ?
Reply #19 - Jun 21^st, 2014 at 3:55pm

Lobo wrote on Jun 21^st, 2014 at 2:46pm:

Andrei.Hicks wrote on Jun 20^th, 2014 at 10:49pm:

You do realise they took over from a Government that increased debt every single year (despite promising not to - but that's another story).

Cuts were necessary.

Why did the last lot run up so much debt? That's the question.

Which has to do exactly what with deregulating the banking system??

Cheesy

don't argue with Andrei ... he's the best accountant in his world .. he knows how these things work.

You cannot deregulate a bank if the govt. keeps running deficits ....

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crocodile

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Re: Abbott to deregulate the banks ?
Reply #20 - Jun 21^st, 2014 at 5:20pm

Kytro wrote on Jun 21^st, 2014 at 12:11pm:

Andrei.Hicks wrote on Jun 20^th, 2014 at 10:49pm:

You do realise they took over from a Government that increased debt every single year (despite promising not to - but that's another story).

Cuts were necessary.

Why did the last lot run up so much debt? That's the question.

Well primarily the debt was caused because the economic downturn reduced income. Cutting spending during or shortly after the crisis would have been very risky.

It's also not "so much". It is manageable. This is clear because there is little difference between the overall budgets are minimal in terms of cost.

The cuts are not necessary per se, and certainly not targeted where they are. There are other options, and this is why the budget is so unpopular.

On top of what you say is also the situation where the majority of budget expenditure is sewn up in legislation. To wind back the spending program would require passage through the parliament. By the time this happens, the debts already exist.

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Very funny Scotty, now beam down my clothes.

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crocodile Gold Member Offline Australian Politics Posts: 6683 Gender:	Re: Abbott to deregulate the banks ? Reply #21 - Jun 21^st, 2014 at 5:21pm Quote: You cannot deregulate a bank if the govt. keeps running deficits .... Why not ?
Back to top	Very funny Scotty, now beam down my clothes. IP Logged

John Smith Gold Member Offline Australian Politics Posts: 78311 Gender:	Re: Abbott to deregulate the banks ? Reply #22 - Jun 21^st, 2014 at 7:22pm crocodile wrote on Jun 21^st, 2014 at 5:21pm: Quote: You cannot deregulate a bank if the govt. keeps running deficits .... Why not ? don't ask me ... Andrei was the one who seems to think one affects the other.
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Grendel

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Re: Abbott to deregulate the banks ?
Reply #23 - Jun 22^nd, 2014 at 11:42am

John Smith wrote on Jun 20^th, 2014 at 10:30pm:

Grendel wrote on Jun 20^th, 2014 at 9:29pm:

Then rest happy, that at this stage the 2 people having spoken about this from the Liberals; Abbott and Robb say they are not going to do it.

they also said they weren't going to introduce any new taxes, weren't going to cut health and education, weren't going to touch pensions, weren't going to

oh bugger, it there's just to many to list ... you get the drift.

There will be no carbon tax under the government I lead...

lie of the century.

Apples and Oranges when it comes to the budget.

It never had to happen, unfortunately many of the Coalition budget measures do have to happen.

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Tony

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Re: Abbott to deregulate the banks ?
Reply #24 - Jun 22^nd, 2014 at 11:48am

No they don’t.

Cut out negative gearing, FBT fiddles, stuff like that. No need to see under30s reduced to begging, crime etc to live, dreadful waste of human potential.

I gave up on the Libs, formally resigned from the Party because they are no longer liberal, they are neoconservatives and would happily see all of us here thrown into the street to help a crony of theirs.

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Grendel

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Re: Abbott to deregulate the banks ?
Reply #25 - Jun 22^nd, 2014 at 2:00pm

Tony wrote on Jun 22^nd, 2014 at 11:48am:

No they don’t.

Cut out negative gearing, FBT fiddles, stuff like that. No need to see under30s reduced to begging, crime etc to live, dreadful waste of human potential.

I gave up on the Libs, formally resigned from the Party because they are no longer liberal, they are neoconservatives and would happily see all of us here thrown into the street to help a crony of theirs.

Yes they do.... care to compare a full list of measures.
Cheesy

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Kytro

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Re: Abbott to deregulate the banks ?
Reply #26 - Jun 22^nd, 2014 at 2:23pm

crocodile wrote on Jun 21^st, 2014 at 5:20pm:

Kytro wrote on Jun 21^st, 2014 at 12:11pm:

Andrei.Hicks wrote on Jun 20^th, 2014 at 10:49pm:

You do realise they took over from a Government that increased debt every single year (despite promising not to - but that's another story).

Cuts were necessary.

Why did the last lot run up so much debt? That's the question.

Well primarily the debt was caused because the economic downturn reduced income. Cutting spending during or shortly after the crisis would have been very risky.

It's also not "so much". It is manageable. This is clear because there is little difference between the overall budgets are minimal in terms of cost.

The cuts are not necessary per se, and certainly not targeted where they are. There are other options, and this is why the budget is so unpopular.

On top of what you say is also the situation where the majority of budget expenditure is sewn up in legislation. To wind back the spending program would require passage through the parliament. By the time this happens, the debts already exist.

Perhaps then, tax should be increased to compensate until such time as the economy improves. Taxation is low at the moment and it should be adjusted from time to time.

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John Smith

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Re: Abbott to deregulate the banks ?
Reply #27 - Jun 22^nd, 2014 at 3:10pm

Grendel wrote on Jun 22^nd, 2014 at 11:42am:

John Smith wrote on Jun 20^th, 2014 at 10:30pm:

Grendel wrote on Jun 20^th, 2014 at 9:29pm:

Then rest happy, that at this stage the 2 people having spoken about this from the Liberals; Abbott and Robb say they are not going to do it.

they also said they weren't going to introduce any new taxes, weren't going to cut health and education, weren't going to touch pensions, weren't going to

oh bugger, it there's just to many to list ... you get the drift.

There will be no carbon tax under the government I lead...

lie of the century.

Apples and Oranges when it comes to the budget.

It never had to happen, unfortunately many of the Coalition budget measures do have to happen.

for someone who's always crying about how they're not biased, you certainly make a good Abbott sychophant

'Had to happen' ???? Grin

Only in your little head maybe ... nothing had to happen ... just as he didn't HAVE to promise that they wouldn't, knowing full well that they would

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Grendel

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Re: Abbott to deregulate the banks ?
Reply #28 - Jun 22^nd, 2014 at 7:07pm

I'm sorry, but since I'm not a rusted-on like You Johnboy I can see past your political bias and to the reality of the situation and no we cannot keep going down the path the ALP was taking us.
Even Malcolm Turnbull who would make a fine Leader for the ALP admits they were taking us down the toilet.
Wakey wakey Johnboy. Cheesy

The fact you deny certain things need and have to happen is a testament to your stupidity and political bias. Cheesy

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crocodile

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Re: Abbott to deregulate the banks ?
Reply #29 - Jun 22^nd, 2014 at 7:27pm

Kytro wrote on Jun 22^nd, 2014 at 2:23pm:

crocodile wrote on Jun 21^st, 2014 at 5:20pm:

Kytro wrote on Jun 21^st, 2014 at 12:11pm:

Andrei.Hicks wrote on Jun 20^th, 2014 at 10:49pm:

You do realise they took over from a Government that increased debt every single year (despite promising not to - but that's another story).

Cuts were necessary.

Why did the last lot run up so much debt? That's the question.

Well primarily the debt was caused because the economic downturn reduced income. Cutting spending during or shortly after the crisis would have been very risky.

It's also not "so much". It is manageable. This is clear because there is little difference between the overall budgets are minimal in terms of cost.

The cuts are not necessary per se, and certainly not targeted where they are. There are other options, and this is why the budget is so unpopular.

On top of what you say is also the situation where the majority of budget expenditure is sewn up in legislation. To wind back the spending program would require passage through the parliament. By the time this happens, the debts already exist.

Perhaps then, tax should be increased to compensate until such time as the economy improves. Taxation is low at the moment and it should be adjusted from time to time.

Taxation changes are also subject to legislation. The drop in expected revenue happens before any programs for winding back expenditure or increasing taxes can be put before the parliament. Unfortunately, the shortfall has to be covered by borrowing money. It really is that simple.

It is also worth pointing out that raising taxes does not always cause a linear rise in revenue.

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Very funny Scotty, now beam down my clothes.

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