Australian Politics Forum - Australia's declining economy

Bam Gold Member Offline Australian Politics Posts: 21905 Gender:	Re: Australia's declining economy Reply #60 - Dec 7^th, 2018 at 4:03pm The economy is so imperilled now that the RBA is talking about cutting the cash rate. Reserve Bank says rate cuts and QE possible as Australian housing enters 'uncharted territory'
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juliar Gold Member Offline Australian Politics Posts: 22966	Re: Australia's declining economy Reply #61 - Dec 7^th, 2018 at 4:10pm Billy is itching to get on with the job of wrecking Australia's economy which the Libs have repaired just like Labor did last time during the six sick years of Socialist waste and disgrace and shame.
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perceptions_now

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Re: Australia's declining economy
Reply #62 - Dec 7^th, 2018 at 4:21pm

Bam wrote on Dec 7^th, 2018 at 4:03pm:

The economy is so imperilled now that the RBA is talking about cutting the cash rate.

Reserve Bank says rate cuts and QE possible as Australian housing enters 'uncharted territory'

You may find we are already in 'uncharted territory', as far as "low RBA Rates" are concerned!
https://www.rba.gov.au/statistics/cash-rate/

It is also worth noting, that even with the Low rates which we have already had, it hasn't brought about the usual fixes.
AND, lowering the Rates further, won't produce any "Magic Fix/s", mainly because of the other "Unique Factors", arrayed at present!

Oh & it won't make any difference, which of the Major Political Party's is in Power!

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Laugh till you cry

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Re: Australia's declining economy
Reply #63 - Dec 7^th, 2018 at 5:31pm

The real problem is that houses prices have risen probably 100% in ten years while wages have risen little.

This means that housing affordability has fallen for new buyers.

Reducing the interest rates will make the situation worse.

Low interest rates have cause housing demand to rise and prices with it.

The problem the government now faces is not only the effect on new home buyers but the employment effect, as well as so many are employed building houses.

A disruption in the housing industry could be catastrophic and cause a recession.

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Please don't thank me. Effusive fawning and obeisance of disciples, mendicants, and foot-kissers embarrass me.

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Bam Gold Member Offline Australian Politics Posts: 21905 Gender:	Re: Australia's declining economy Reply #64 - Dec 8^th, 2018 at 11:02am Not only is Australia's economy in decline, the Coalition are lying about it. First they damage the economy, then they fudge the figures
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cods Gold Member Offline Australian Politics Posts: 88048	Re: Australia's declining economy Reply #65 - Dec 8^th, 2018 at 2:41pm
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Bam Gold Member Offline Australian Politics Posts: 21905 Gender:	Re: Australia's declining economy Reply #66 - Dec 8^th, 2018 at 7:27pm cods wrote on Dec 8^th, 2018 at 2:41pm: This is why you fail.
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Grappler Racist Filth Gold Member Offline Australian Politics Posts: 90411 Proud Old White Australian Man Gender:	Re: Australia's declining economy Reply #67 - Dec 9^th, 2018 at 11:02am Nah.. nah... never seen such a period of sustained growth and prosperity... What a loads of codswallop.. 15.3% unemployed in Wollongong.. bloody dole bludgers... send in The Prune/Pruneface to sort 'em out - get a job or train or get on the streets, Untermenschen!
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Its time

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Re: Australia's declining economy
Reply #68 - Dec 9^th, 2018 at 12:37pm

Bam wrote on Dec 8^th, 2018 at 11:02am:

Not only is Australia's economy in decline, the Coalition are lying about it.

First they damage the economy, then they fudge the figures

Wednesday’s Bureau of Statistics release shows annual growth in gross domestic product (GDP) to the end of September 2018 was 2.77%. That ranks 106th among the world’s 183 economies, well down in the bottom half. That is as low as Australia has been. Ever.

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Grappler Racist Filth

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Re: Australia's declining economy
Reply #69 - Dec 9^th, 2018 at 12:46pm

Its time wrote on Dec 9^th, 2018 at 12:37pm:

Bam wrote on Dec 8^th, 2018 at 11:02am:

Not only is Australia's economy in decline, the Coalition are lying about it.

First they damage the economy, then they fudge the figures

Wednesday’s Bureau of Statistics release shows annual growth in gross domestic product (GDP) to the end of September 2018 was 2.77%. That ranks 106th among the world’s 183 economies, well down in the bottom half. That is as low as Australia has been. Ever.

Not only that, but GDP growth is not a measure of prosperity for a nation overall.... all it is, is a blank statement of claimed overall alleged increase in production of goods and services.. an ephemeral concept at best and highly subjective... how define ye an 'increase in services'?

More drink tanks and alcohol rehab? More wasteful 'commissions' to control yet another petty facet of everyday life to suit some agenda? More counseling for the increasing unemployed? More charities to support the unemployed living on next to nothing?

"Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time."

https://investinganswers.com/financial.../economics/gross-domestic-product-gdp-1...

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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Bam

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Re: Australia's declining economy
Reply #70 - Dec 9^th, 2018 at 12:46pm

Its time wrote on Dec 9^th, 2018 at 12:37pm:

Bam wrote on Dec 8^th, 2018 at 11:02am:

Not only is Australia's economy in decline, the Coalition are lying about it.

First they damage the economy, then they fudge the figures

Wednesday’s Bureau of Statistics release shows annual growth in gross domestic product (GDP) to the end of September 2018 was 2.77%. That ranks 106th among the world’s 183 economies, well down in the bottom half. That is as low as Australia has been. Ever.

If Morrison is trying to wait until May to call the election and run on a record of economic management, that could backfire badly if the economy slows further. It won't slip into technical recession by then (only one quarter of reporting is due to be released before next May and technical recession requires two consecutive negative quarters) but the economic malaise is becoming obvious.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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Grappler Racist Filth

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Re: Australia's declining economy
Reply #71 - Dec 9^th, 2018 at 12:55pm

Bam wrote on Dec 9^th, 2018 at 12:46pm:

Its time wrote on Dec 9^th, 2018 at 12:37pm:

Bam wrote on Dec 8^th, 2018 at 11:02am:

Not only is Australia's economy in decline, the Coalition are lying about it.

First they damage the economy, then they fudge the figures

Wednesday’s Bureau of Statistics release shows annual growth in gross domestic product (GDP) to the end of September 2018 was 2.77%. That ranks 106th among the world’s 183 economies, well down in the bottom half. That is as low as Australia has been. Ever.

If Morrison is trying to wait until May to call the election and run on a record of economic management, that could backfire badly if the economy slows further. It won't slip into technical recession by then (only one quarter of reporting is due to be released before next May and technical recession requires two consecutive negative quarters) but the economic malaise is becoming obvious.

But.... but.... but... The World's Greatest Treasurer Mk II is going to throw up a Surplus Budget..... doesn't that mean that suddenly the till is overflowing with cash?

A surplus budget can be attained in countless ways... borrow more than enough to cover your immediate bills, and you are in surplus...

Downe At Ye Olde Budget Speech-House over a tankard of ale:-

".... and so it can be clearly seen that with carefully calculated borrowing over the next fiscal year, somewhere in the vicinity of $700Bn ..... the current debt of around $600Bn will become a surplus of $100Bn.... further, government moves to change the culture of permanent unemployment will result in cuts to "welfare" of more than the current budget..... the new test which says that, in keeping with the Labor concept of zero tax liability not incurring a refund of dividend imputation, all those with zero income at retirement will NOT receive a pension.. the test will be that if you have not secured your own retirement, you are on your own... and this positive step forward will result in further savings to the budget...................

Next, this Federal Government will be buying into a massive scheme to re-develop oceanfront property at Towradgi and Punchbowl in Sydney........ a State government move in train.... and will thus garner massive revenue for the good of the nation..... and its families.... and its children.... and its poor......"

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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