Australian Politics Forum - Frydenberg's budget pivot

Brian Ross Gold Member Offline Representative of me Posts: 39575	Frydenberg's budget pivot May 2^nd, 2021 at 5:16pm Frydenberg's budget pivot puts the government on a path for judgement
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John Smith Gold Member Offline Australian Politics Posts: 72269 Gender:	Re: Frydenberg's budget pivot Reply #1 - May 2^nd, 2021 at 5:21pm I hope the idiots handling labors propaganda wagon hammer the libs back flips and hollow rhetoric home on a daily basis, although I'm not going to hold my breath. They seem to let the libs get away with everything.
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Gordon Gold Member Offline Australian Politics Posts: 20231 Gordon Gender:	Re: Frydenberg's budget pivot Reply #2 - May 2^nd, 2021 at 8:03pm So adjusting things because a Chinese lab virus gridlocked the world is a bad thing? You want a government that ignores prevailing winds?
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aquascoot

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Re: Frydenberg's budget pivot
Reply #3 - May 2^nd, 2021 at 8:15pm

yep.

western democracies have cottoned onto the fact that raising taxes to balance budgets loses the next election.

but driving interest rates to zero, so you can efffectively print cash and pump it into the economy with no interest repayments doesnt frighten the electorate.

in fact they like it.

who doesnt like free money

who likes higher taxes.

the problem is when you inflate the money supply , you dliute the currency and you, by definition are causing inflation.

at the moment this is manily inflation in housing and stocks but , if global supply chains slow down, this will be felt as inflation in consumer goods.

copper, timber, oil, steel are all taking off in price.
this will eventually come home to roost as inflation.

and with debt at such incredible levels, raising interest rates to suck some of that money out of circulation and reduce new debt will not be possible.
it would cripple the government and the banks.

if you already own a house, this money printing is good for the value of your home.
but you will be paying more for everything so you arent better off.

if you dont own a home or lots of shares, this government spending is utterly catastrophic.

firstly, you will never own one, secondly as real estate goes up rents will go up, thridly cars will go up and fourthly food and utilitieis will rise.

the poor always ask canberra to give them more money.

why do you think the liberals are happy to comply?

because the poor dont get to keep it, they get screwed over and some investor with 7 houses gets to keep all that filthy lucre.

there is but one solution.

poor people have to demand that governments stop handing out so much cash and that they live within their means

all government spending is a tax

it is NOT coming out of scomo's or frydenburgs back pocket.
how could you be so naive

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Frank

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Re: Frydenberg's budget pivot
Reply #4 - May 2^nd, 2021 at 9:13pm

John Smith wrote on May 2^nd, 2021 at 5:21pm:

I hope the idiots handling labors propaganda wagon hammer the libs back flips and hollow rhetoric home on a daily basis, although I'm not going to hold my breath. They seem to let the libs get away with everything.

I think you should hold your breath.... for, say, 30 minutes? 45? see how you go. For all our sakes. Tsk tsk Roll Eyes

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Estragon: I can’t go on like this.
Vladimir: That’s what you think.

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Dnarever Gold Member Offline Australian Politics Posts: 57172 Here Gender:	Re: Frydenberg's budget pivot Reply #5 - May 2^nd, 2021 at 10:22pm Maybe wait for the policy not just the rhetoric. Funny watching all the conservative supporters backflipping to adopt Labor policy that they have previously done nothing but criticise.
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crocodile

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Re: Frydenberg's budget pivot
Reply #6 - May 3^rd, 2021 at 5:42pm

aquascoot wrote on May 2^nd, 2021 at 8:15pm:

yep.

western democracies have cottoned onto the fact that raising taxes to balance budgets loses the next election.

but driving interest rates to zero, so you can efffectively print cash and pump it into the economy with no interest repayments doesnt frighten the electorate.

in fact they like it.

who doesnt like free money

who likes higher taxes.

the problem is when you inflate the money supply , you dliute the currency and you, by definition are causing inflation.

at the moment this is manily inflation in housing and stocks but , if global supply chains slow down, this will be felt as inflation in consumer goods.

copper, timber, oil, steel are all taking off in price.
this will eventually come home to roost as inflation.

and with debt at such incredible levels, raising interest rates to suck some of that money out of circulation and reduce new debt will not be possible.
it would cripple the government and the banks.

if you already own a house, this money printing is good for the value of your home.
but you will be paying more for everything so you arent better off.

if you dont own a home or lots of shares, this government spending is utterly catastrophic.

firstly, you will never own one, secondly as real estate goes up rents will go up, thridly cars will go up and fourthly food and utilitieis will rise.

the poor always ask canberra to give them more money.

why do you think the liberals are happy to comply?

because the poor dont get to keep it, they get screwed over and some investor with 7 houses gets to keep all that filthy lucre.

there is but one solution.

poor people have to demand that governments stop handing out so much cash and that they live within their means

all government spending is a tax

it is NOT coming out of scomo's or frydenburgs back pocket.
how could you be so naive

But have they ? Look at the French. Half the nation's entire GDP goes in taxes of all sorts. CGT, VAT, income, company, inheritance, yadda yadda yadda. They haven't had a budget in the black for nearly 50 years. There's a lesson there.

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Very funny Scotty, now beam down my clothes.

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John Smith

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Re: Frydenberg's budget pivot
Reply #7 - May 3^rd, 2021 at 6:27pm

Frank wrote on May 2^nd, 2021 at 9:13pm:

John Smith wrote on May 2^nd, 2021 at 5:21pm:

I hope the idiots handling labors propaganda wagon hammer the libs back flips and hollow rhetoric home on a daily basis, although I'm not going to hold my breath. They seem to let the libs get away with everything.

I think you should hold your breath.... for, say, 30 minutes? 45? see how you go. For all our sakes. Tsk tsk Roll Eyes

I'll do it once you show me how

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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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John Smith

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Re: Frydenberg's budget pivot
Reply #8 - May 3^rd, 2021 at 6:30pm

Gordon wrote on May 2^nd, 2021 at 8:03pm:

So adjusting things because a Chinese lab virus gridlocked the world is a bad thing?

You want a government that ignores prevailing winds?

adjusting things? Grin

It's not an adjustment, they've thrown their usual mantra out the window completely and slammed the window shut. And don't blame the virus, 12 months on and all the number are much better than projected even with the virus, and there's no sign of them slowing down on their spending.

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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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Gordon

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Re: Frydenberg's budget pivot
Reply #9 - May 3^rd, 2021 at 6:57pm

John Smith wrote on May 3^rd, 2021 at 6:30pm:

Gordon wrote on May 2^nd, 2021 at 8:03pm:

So adjusting things because a Chinese lab virus gridlocked the world is a bad thing?

You want a government that ignores prevailing winds?

adjusting things? Grin

It's not an adjustment, they've thrown their usual mantra out the window completely and slammed the window shut. And don't blame the virus, 12 months on and all the number are much better than projected even with the virus, and there's no sign of them slowing down on their spending.

Every single economist on earth is saying to inject money into the economy now, why
would you want Australia to be different?

And well done Libs for exiting the pandemic in great shape.

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IBI

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aquascoot

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Re: Frydenberg's budget pivot
Reply #10 - May 3^rd, 2021 at 7:12pm

crocodile wrote on May 3^rd, 2021 at 5:42pm:

aquascoot wrote on May 2^nd, 2021 at 8:15pm:

yep.

western democracies have cottoned onto the fact that raising taxes to balance budgets loses the next election.

but driving interest rates to zero, so you can efffectively print cash and pump it into the economy with no interest repayments doesnt frighten the electorate.

in fact they like it.

who doesnt like free money

who likes higher taxes.

the problem is when you inflate the money supply , you dliute the currency and you, by definition are causing inflation.

at the moment this is manily inflation in housing and stocks but , if global supply chains slow down, this will be felt as inflation in consumer goods.

copper, timber, oil, steel are all taking off in price.
this will eventually come home to roost as inflation.

and with debt at such incredible levels, raising interest rates to suck some of that money out of circulation and reduce new debt will not be possible.
it would cripple the government and the banks.

if you already own a house, this money printing is good for the value of your home.
but you will be paying more for everything so you arent better off.

if you dont own a home or lots of shares, this government spending is utterly catastrophic.

firstly, you will never own one, secondly as real estate goes up rents will go up, thridly cars will go up and fourthly food and utilitieis will rise.

the poor always ask canberra to give them more money.

why do you think the liberals are happy to comply?

because the poor dont get to keep it, they get screwed over and some investor with 7 houses gets to keep all that filthy lucre.

there is but one solution.

poor people have to demand that governments stop handing out so much cash and that they live within their means

all government spending is a tax

it is NOT coming out of scomo's or frydenburgs back pocket.
how could you be so naive

But have they ? Look at the French. Half the nation's entire GDP goes in taxes of all sorts. CGT, VAT, income, company, inheritance, yadda yadda yadda. They haven't had a budget in the black for nearly 50 years. There's a lesson there.

croc.

i remember being slugged some more tax for howards gun buy back.

tony abbott hit me with an increased rate (the high income earners tax) which i think went from 47 to 49 %. i forget what that paid for

gillard hit me with some regulation 290 tax that used to be a bill for my super contributions because i earnt above a certain ammount.

and that was when we had fairly balanced budgets.

now they just spend and spend.

as i explained to rhino Roll Eyes

,

when covid hit both my companies kept getting cash flow credits to the tune of 10's of 1000's of dollars despite the fact my businesses were unaffected.

i said to my accountant, i better not take that as wages because surely they will want it back.

nope, it was a gift.

then he told me i could buy a new car (if they were around under covid) and get an instant asset write off for each business.

and as i buy utes only, NO FBT payable.

i mean, how many business people who emply their kids to clean the office on a saturday morning, took advantage off getting a company car tax free to give the kid for his 21st , get the gst back and if you get a ute, no fbt.

and that kid who was doing 4 hrs a week, qualified for $750 a week covid payment under jobseeker.

a massive government funded cash splash with debt at over a trillion.

people just dont get it.

my son had an old honda civic he bought for $9,000 3 years ago.

he jsut sold it for $12,000.

thats called "inflation" and thats what you get when you pump printed money (under QE) into the economy.

more cash chasing fewer assets.

we had a chance to see a massive reset of the housing markets.

no cash splash (and so renters unable to pay rent) would have seen investors dumping housing stock and crashing prices for young home buyers.

but the government had to protect the investors and the big banks.

we need money being lent to business NOT PROPERTY SPECULATORS and we need businesses that cant make a profit FAIL because THATS WHATS SUPPOSED TO HAPPEN

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Bam

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Re: Frydenberg's budget pivot
Reply #11 - May 11^th, 2021 at 6:44pm

Nobody for a second believes that the Liberal-National-IPA-Murdoch Coalition parties have had a sudden conversion to permanent deficit spending. They will be making cuts after the next election. They always do. Frydenberg has implied that they will be making cuts soon. They should come clean with the Australian people and tell us what cuts they will be making to pay for this massive spending. Now, not after the next election.

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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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John Smith

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Re: Frydenberg's budget pivot
Reply #12 - May 11^th, 2021 at 6:52pm

Gordon wrote on May 3^rd, 2021 at 6:57pm:

John Smith wrote on May 3^rd, 2021 at 6:30pm:

Gordon wrote on May 2^nd, 2021 at 8:03pm:

So adjusting things because a Chinese lab virus gridlocked the world is a bad thing?

You want a government that ignores prevailing winds?

adjusting things? Grin

It's not an adjustment, they've thrown their usual mantra out the window completely and slammed the window shut. And don't blame the virus, 12 months on and all the number are much better than projected even with the virus, and there's no sign of them slowing down on their spending.

Every single economist on earth is saying to inject money into the economy now, why
would you want Australia to be different?

And well done Libs for exiting the pandemic in great shape.

Every single economist on earth said to inject money into the economy during the GFC too ... didn't stop the libs from crying about it every step of the way

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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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Vic

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Re: Frydenberg's budget pivot
Reply #13 - May 11^th, 2021 at 6:55pm

longweekend58 wrote on Oct 22^nd, 2013 at 4:55pm:

Fit of Absent Mindeness wrote on Oct 22^nd, 2013 at 3:37pm:

We can't build the nbn (for $35 billion) but we can raise the debt ceiling to 1/2 a trillion.

do you even realise that the debt is expected to top $400B solely because of Labors spending over the past 6 years? do you think deficit budget spending miraculously ended 7/11/13??? it will take a few years to stop adding to the debt as the Libs fix the problems that cause it. increasing the debt limit is nothing more than avoiding default and shutdown like the americans went thru.

The above quote from 2013. I love this bit

do you even realise that the debt is expected to top $400B solely because of Labors spending over the past 6 years?

do you think deficit budget spending miraculously ended 7/11/13???

it will take a few years to stop adding to the debt as the Libs fix the problems that cause it. i

ncreasing the debt limit is nothing more than avoiding default and shutdown like the americans went thru.

[/quote]

So what is it now? Please tell me there is none with "the adults in charge" and nearly 8 years of Liberal. It is interesting reading to go to page 987 in this topic and see the Lib supporters rubbishing Labor, gawd look at us now - it really all worked didn't it?

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Football, Meat Pies, Kangaroos and Liberal Lies

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