You missed one percepts

External Debt to GDP Ratio - Australia: 146.29% (a rise of 53.8% since early 2011)

http://www.usdebtclock.org/world-debt-clock.html

Not good all that money disappearing overseas just when we need it. Is this the debt that's costing us $700 million a month just in interest ? I think it might be. I don't think the Labor party would give a damn, they'll just lay it on future generations to pay it off. Future generations will need to wake up, but no one should hold their breath waiting for that to happen

Did you notice the communist running Greece now? I heard he's a Greek Aussie! Probably had plenty of Labor party mentors. Good Bye Greece

Armchair_Politician wrote on Jan 27^th, 2015 at 12:53pm:


were still feeling some of the effects you dope.

John Smith wrote on Jan 27^th, 2015 at 9:12pm:

But we do love him.  If not he who makes me laugh each morning with his daily telegraph snippets, then who?

John Smith wrote on Jan 27^th, 2015 at 9:10pm:


Yeah we need a hell of a lot more Libacilin to cure us from the near fatal dose of Laboritus....

Bias_2012 wrote on Jan 27^th, 2015 at 8:29pm:


Sorry for the delay, it's been a busy day!

In fact, External Debt is not one that I missed, I just wouldn't include it in with the sort of information I gave, in my post (Reply 74) on this thread earlier today.

The basic reason being, my earlier post was primarily about "Australian Government Debt" & related issues, whereas the External Debt is described as follows -
External debt (or foreign debt) is the total debt a country owes to foreign creditors.
The debtors can be the government, corporations or citizens of that country.

In other words, External Debt (or foreign debt) is the total Debt a country owes to foreign creditors, by Governments, Business & individuals.

What I was referring to was purely Government Debt and did not include Business &/or Private individuals Debt, as the Australian Public are not responsible for the Debts of those Businesses &/or Private individuals!

I hope that helps.

As for the Greeks, their cause is lost & it has been, for a while.

It would be nice if the problems facing the public finance are acknowledged:

1. Costello’s structural Budget deficit which is now a cash deficit: too much spending, too little tax

2. The high indebtedness of the private sector now dragging down economic activity

Both of these were revealed once the GFC crashed the real estate boom 2001–7. The way to fix the Budget is pretty obvious, pity then that monkey & Hokey are not doing that, and that monkey wants to remove means testing of the private health care rebate and bring in his stupid PPL brainfart.

The other problem we have—what to do to replace mining. Here the NBN could have played a major role—if it is Turnbull that replaces monkey then I hope he starts running out FTTH even if only to twist the knife, the result will be a huge improvement to the economy.

If Abbott is not replaced the root causes of our Budgetary woes will not be addressed and I shudder to think what our debt will be late next year when the next election is due. We cannot afford government by brainfart for much longer!

If, as seems more and more likely, Abbott is replaced his successor will go nowhere unless policies to deal with the underlying causes of our problem are addressed and that will be the more difficult act.

perceptions_now wrote on Jan 27^th, 2015 at 10:24pm:


How can you say this considering that John Howard and Peter Costello ran their whole 1996 election based on the emergency related to international debt. The debt truck toured Australia telling everyone how Labor had failed on international debt.

Funny thing was that once in power foreign debt was one thing that Howard and Costello quietly watch blow out while doing nothing about it.

That is right the premise on which the first Howard government were elected was a failure and now we see that if the post here is credible it was all a lie.

Who would believe a Lieberal Leader taking lies to an election ? Whoops sorry too silly doing that was king ratty's specialty, as I recall he based all his election campaigns on very significant lies.

Dnarever wrote on Jan 27^th, 2015 at 7:55am:


You're serious right?