Australian Politics Forum - South Australia: massive oil reserves discovered

crocodile

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Re: South Australia: massive oil reserves discovered
Reply #165 - Jan 21^st, 2015 at 11:56am

longweekend58 wrote on Jan 21^st, 2015 at 8:30am:

St George of the Garden wrote on Jan 21^st, 2015 at 8:01am:

longweekend58 wrote on Jan 21^st, 2015 at 7:52am:

St George of the Garden wrote on Jan 20^th, 2015 at 5:09pm:

Desperately deflecting Longy. If Howard “saved” $230Bn partly because of asset sales then so did Keating, and Howard spent Keatings ’ savings Cheesy

That is a nonsense and so is your claim that Howard saved $230Bn.

QED

Keating left $96B of debt and a budget in deficit. that is hardly a 'savings', even to a dipstick like you.

And a PM who spent all the boomtime revenue without building anything lasting to improve the country is not a saver.

he SAVED robbed the private sector of $230B while your beloved the equally egregious Labor OVERSPENT returned $350B and we have practically nothing to show for it.

fixed

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« Last Edit: Jan 21^st, 2015 at 12:08pm by crocodile »

Very funny Scotty, now beam down my clothes.

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perceptions_now

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Re: South Australia: massive oil reserves discovered
Reply #166 - Jan 21^st, 2015 at 11:59am

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

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St George of the Garden

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Re: South Australia: massive oil reserves discovered
Reply #167 - Jan 21^st, 2015 at 12:01pm

But it is still wrong.

Howard spent prolifically on pork, buying elections etc. Costello the same with tax cuts to the rich. Fanned a boom. No infrastructure or anything like that.

Now we are struggling with the hangover of that boom, the structural Budget deficit Howard & Costello put in there.

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I want Muso as GMod. Bring back Muso!

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crocodile

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Re: South Australia: massive oil reserves discovered
Reply #168 - Jan 21^st, 2015 at 12:13pm

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

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Very funny Scotty, now beam down my clothes.

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longweekend58

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Re: South Australia: massive oil reserves discovered
Reply #169 - Jan 21^st, 2015 at 12:14pm

St George of the Garden wrote on Jan 21^st, 2015 at 8:51am:

Saved NOTHING! $350Bn of boomtime revenue just spent on pork, tax cuts, middleclass welfare.

The Gillard/Swan govt cut a lot of this wasteful spending out the Budget while funding a huge roadbuilding and other infrastructure work like the NBN.

Their problem, and now Abbott and Hokey’s problem, the Howard/Costello structural Budget deficit made a real cash deficit. Much more of Howard’s irresponsible spending needs to be cut out the Budget—$50Bn of savings there! Funny then that Abbott & Hokey are not doing that and thereby are bringing about a recession.

Abbott & Hokey doubled and tripled the deficit. Incompetent idiots!

Gillard borrow $400B to spend on her office. Swan borrowed $2T to put away in his bank account.

See? I can make stuff up too.

Idiot.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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longweekend58

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Re: South Australia: massive oil reserves discovered
Reply #170 - Jan 21^st, 2015 at 12:16pm

crocodile wrote on Jan 21^st, 2015 at 12:13pm:

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

how dare you criticise Norway!! isn't the fact of their wealth fund an excuse to ignore all other issues?

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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John Smith

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Re: South Australia: massive oil reserves discovered
Reply #171 - Jan 21^st, 2015 at 12:35pm

longweekend58 wrote on Jan 21^st, 2015 at 12:16pm:

crocodile wrote on Jan 21^st, 2015 at 12:13pm:

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

how dare you criticise Norway!! isn't the fact of their wealth fund an excuse to ignore all other issues?

in fact it's you wrongie, who keeps bringing up Howards wealth fund .... Is that why you do it? to ignore the other issues? Grin

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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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perceptions_now

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Re: South Australia: massive oil reserves discovered
Reply #172 - Jan 21^st, 2015 at 1:01pm

longweekend58 wrote on Jan 21^st, 2015 at 12:16pm:

crocodile wrote on Jan 21^st, 2015 at 12:13pm:

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

how dare you criticise Norway!! isn't the fact of their wealth fund an excuse to ignore all other issues?

Still running away from the questions, Longy!!!

"How did Norway get their $930-$1,000 Billion and they only had Oil to sell?"

"AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???"

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perceptions_now

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Re: South Australia: massive oil reserves discovered
Reply #173 - Jan 21^st, 2015 at 1:15pm

crocodile wrote on Jan 21^st, 2015 at 12:13pm:

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

Really? And, how about the rest of Europe, the UK, the USA etc.etc.

As I said, "it will certainly give them (the Norwegians) a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

I think you will find the Norwegian Private sector are not alone with their 170% Debt (as you put it), But they do at least have some 200% of GDP in a Sovereign Fund, so they are clearly alone at the top of that issue, which will definitely assist in their fight against the Baby Boomer Bust & other issues!

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Dsmithy70 Gold Member Offline ire futuis vobismetipsis Posts: 13147 Newy Gender:	Re: South Australia: massive oil reserves discovered Reply #174 - Jan 21^st, 2015 at 1:57pm If you think Norways stuffed because of private debt to GDP WITH a real SWF What does that make us? http://www.australiandebtclock.com.au/history Click the link check the box total private debt check the box GDP Uncheck total debt box click refresh
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ImSpartacus2

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Re: South Australia: massive oil reserves discovered
Reply #175 - Jan 21^st, 2015 at 2:04pm

longweekend58 wrote on Jan 19^th, 2015 at 6:46pm:

http://www.adelaidenow.com.au/news/south-australia/promise-of-oil-thousands-of-jobs-as-companies-hunt-in-great-australian-bight/story-fni6uo1m-1227188977776?sv=9711efc8bb2a213e2e9aa6b83e906d1f&net_sub_uid=77728013&nk=ebb44e85a692cbcf4e1af24f9a32c79a

So much for Peak Oil - another discredited theory.

SA's offshore oil reserves are tipped to perhaps be the worlds LARGEST offshore reserves.

Bad luck, Perc.... WRONG AGAIN

And you bought the shares I bet. Let me guess: you could hardly believe how cheap they were and so you took out a second mortgage on your house. Grin

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longweekend58

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Re: South Australia: massive oil reserves discovered
Reply #176 - Jan 21^st, 2015 at 3:17pm

John Smith wrote on Jan 21^st, 2015 at 12:35pm:

longweekend58 wrote on Jan 21^st, 2015 at 12:16pm:

crocodile wrote on Jan 21^st, 2015 at 12:13pm:

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

how dare you criticise Norway!! isn't the fact of their wealth fund an excuse to ignore all other issues?

in fact it's you wrongie, who keeps bringing up Howards wealth fund .... Is that why you do it? to ignore the other issues? Grin

because you boofheads don't even believe it exists. you are THAT stupid.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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crocodile

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Re: South Australia: massive oil reserves discovered
Reply #177 - Jan 21^st, 2015 at 3:51pm

perceptions_now wrote on Jan 21^st, 2015 at 1:15pm:

crocodile wrote on Jan 21^st, 2015 at 12:13pm:

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

Really? And, how about the rest of Europe, the UK, the USA etc.etc.

As I said, "it will certainly give them (the Norwegians) a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

I think you will find the Norwegian Private sector are not alone with their 170% Debt (as you put it), But they do at least have some 200% of GDP in a Sovereign Fund, so they are clearly alone at the top of that issue, which will definitely assist in their fight against the Baby Boomer Bust & other issues!

There would not be such a private debt problem in the first place had about a trillion folding green ones not been pinched and stuffed in a wealth fund.

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Very funny Scotty, now beam down my clothes.

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perceptions_now

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Re: South Australia: massive oil reserves discovered
Reply #178 - Jan 21^st, 2015 at 3:54pm

perceptions_now wrote on Jan 21^st, 2015 at 1:01pm:

longweekend58 wrote on Jan 21^st, 2015 at 12:16pm:

crocodile wrote on Jan 21^st, 2015 at 12:13pm:

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

how dare you criticise Norway!! isn't the fact of their wealth fund an excuse to ignore all other issues?

Still running away from the questions, Longy!!!

"How did Norway get their $930-$1,000 Billion and they only had Oil to sell?"

"AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???"

So, Longy Forrest Longy, you're still running away?

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perceptions_now

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Re: South Australia: massive oil reserves discovered
Reply #179 - Jan 21^st, 2015 at 4:02pm

crocodile wrote on Jan 21^st, 2015 at 3:51pm:

perceptions_now wrote on Jan 21^st, 2015 at 1:15pm:

crocodile wrote on Jan 21^st, 2015 at 12:13pm:

perceptions_now wrote on Jan 21^st, 2015 at 11:59am:

crocodile wrote on Jan 21^st, 2015 at 11:33am:

perceptions_now wrote on Jan 21^st, 2015 at 11:17am:

Actually, it IS, much closer to $1 Trillion, Longy Dopey!

According to the following article, from a few weeks ago, it was over $930 Billion.
http://www.abc.net.au/news/2014-01-09/all-norwegians-become-millionaire-sharehol...

AND then, as usual, you have not addressed the question, "how did Norway get their $930-$1,000 Billion and they only had Oil to sell?

AND, how much could/should Australia have accrued, rather than the relatively small $100 Billion or so, particularly given we have/had a lot more Natural Resources???

Are you suggesting that the Norwegian wealth fund is something really good ?

It will certainly give the Norwegians a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

Don't think so. Norway's private sector debt is disgusting ( around 170% of GDP ). Tax is still high at ~50% of GDP. Incomes are high but so are costs. In a land that sells cucumbers by the slice there are no bargains and a highly indebted populace. Stripping nearly a trillion out of the private sector to plonk in a wealth fund is not a lot of help.

Really? And, how about the rest of Europe, the UK, the USA etc.etc.

As I said, "it will certainly give them (the Norwegians) a much better chance, at offsetting the problems relating to the Baby Boomer Bust & a few other issues!

I think you will find the Norwegian Private sector are not alone with their 170% Debt (as you put it), But they do at least have some 200% of GDP in a Sovereign Fund, so they are clearly alone at the top of that issue, which will definitely assist in their fight against the Baby Boomer Bust & other issues!

There would not be such a private debt problem in the first place had about a trillion folding green ones not been pinched and stuffed in a wealth fund.

As I said -
Really? And, how about the rest of Europe, the UK, the USA etc.etc.
I would suggest Norway is not alone and it would not be possible to blame taxes in all those countries with higher Private sector Debt!

Btw, you seem to have Longy's syndrome, of not addressing the Right issue/s or simply not addressing questions at all!

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