What an eloquent way of saying nothing and demonstrating your very little grasp of the English language. Even ignoring your bigotry, how do you consider that explains away the debt???
Like I thought, you've really got nothing! "Simplicity confounds the wise", but in this case it is simplicity confounds the "simpletons"!
I have nothing Apparently your only answer to questions of your complaints is attempt at insult We expect nothing more from the bigoted...
This coming from the Aussie arm of PF's resident bigot! cut out your unnecessarily complex patronising pedanticism!
So again you have nothing??? Why is it that you consider to be anything other than what you are? May be you could somehow compile this issue to be something of the ALP v Coalition like you continue to do everywhere else. Unfortunately the only bigotry that is fronted here is your own, which is clearly demonstrated by your continued attempt to insult all about. So why is it you consider the Forum to be your privilege to insult all about who do not agree with your ignorant rants? Would that be because you have no substance? After talking to you for a while, it has come to my attention that your real life is full of sad little facts. The one being that you are the prophet of ignorance, which constantly lords the bigot we all see. So why is it you cannot answer my question??? Explain why you continue to attempt alignment with US political system??? As it is clear you understand nothing about either system, do you consider this continued use of terms for the political system of the US to be an insult??? After all, they mean totally different things in Australia and due to the fact you have already proudly stated you lean heavily to the left in the Australian political system, wouldn’t your ignorance be perfect demonstration to your bigotry??? But again nothing more can be expected from the bigoted
As far as the USA is concerned I don't think it is fair to compare Australia to a nation that has been technically bankrupt for some years now. What is a concern with government debt is that Australia has not been able to increase tax receipts or decrease expenditure enough to avoid having to borrow more money at a time when they should have been able to plan for it. If this keeps happening debt per person will catch up with those other countries. Some lateral thinking with the tax system is required.
I consider myself someone who fights for the truth, hence my nom de plume! No, I don't have a particular political leaning, I suppose I didn't until I came on here and witnessed the blatantly ignorant rants of the extreme right of which the aussie arm of PF seemed to be loaded with prior to my registration! I'm no different to anybody else that believes in something but in forums like this you are forced into taking a particularly distinct leaning for discussions sake! Those that pretend to sit on the fence simply have no credibility and you are one who doesn't have my respect to be frank, due to this! The thinkers all seem to come from the left(so to speak) and seem to be those open to reasoning! I'm one that is open to reasoning but can't reason with the unreasoned!
Fights for your truth, Hence the self-arrogant standard of ignorance. Your bigotry denies you the truth that you are ignorant too. Your complete lack of substance demonstrates your inability to hear anything that is not swayed to your understanding of what the truth which is tainted by your bigotry... So your supposition that you fight for the truth is a fabrication of your own mind... Again you demonstrate that ignorant bigotry in assuming that the Australian political system is of similar persuasion to the US system. Leaning to the left or right, perhaps if you knew the truth you would understand what leaning to the left or right in Australia is. But due to your bigotry you are unable to understand anything that is not ALP. Wouldn't it be funny if you found out the ALP leans neither left nor right. BUT that would be lost on you because you consider the messenger is of some political persuasion What crap... Nobody is forced to do anything of the kind. If you had the grey matter to participate rather than insult, you might actually learn something. BUT your bigotry holds you back. Who cares what the completely incredulous think of others. Apparently your bigotry has no bounds and now you proclaim them loud and clearly to the world. How can the bigoted be open to reason? You do not even hear what anybody else stated unless they are of your opinionated understanding. THE THINKERS?? You must have gone all out to announce to the world how far your bigotry extends. IF it is not ALP it is nothing... If it is not ALP it is not to be heard... Ever wondered how racism started??? Here we have the classic small minded loudly proclaiming that small bigoted mind and demanding others give them credibility. So here we have a bigot attempting to justify their bigotry by telling all about how bigoted they are… what else can we expect from the bigots of this world.
As one would think, not only do you demonstrate your bigotry. You proclaim that you believe you have no credibility and that you have no respect for yourself. Accordingly in your opinion you are deserving of such... What else can we expect from the bigoted, this ignorant rant that smacks of hypocrisy... And there will be more to come.
Our debt is an issue for a number of reasons but foremost we should not have any debt! Australia is a rich country with huge natural resources, we have more of everything than we need so to be going into debt on such a scale clearly points to very bad management. The other big issue is we are not borrowing to gain any assets, we are borrowing operating capital. Any business that has to start borrowing just to stay afloat is in serious financial difficulty. Johnny and Petey paid off $98 billion of debt and didn't borrow a cent yet the country ran just fine, they put money in the bank. Labor has no excuses for indebting us to such a degree. As pointed out, the interest alone on this debt could build 10 major hospitals a year!
Wake up to yourself.....seriously! Stop the unnecessarily complex pedantic and patronising bullsh!t LMAO! "Labor isn't left or right"???? Discussions are held regularly about what influence leaders or factions have on each party......you obviously come out from under your rock to patronise due to the need to feel important by attempting to patronise! From where I stand, and I'm only being honest...you're a goose! Phony Abbott is seen to be taking the coalition further to the right while Fudd seems to be taking labor from centre- left to the right based on certain policies! You'll catch on some day! Learn to be patronised garry, you might learn a thing or two!
We shouldn't have any debt? What do we do, wait until we've saved up enough money to rush out and buy a whole lot of ships, tanks, planes etc. for our defence forces? Of course a country should have debt, it's simply a way of managing government business. I'd be interested to read your sources on government borrowing though. But again, debt to GDP is what is important.
All true, but above the comprehension of the pampered, suburban battery hens of Australia. Charles Darwin would be spinning vigorously enough in his grave, to generate enough electricity to run all of the Eastern States. He`d be yelling "WTF, didn`t you read my theory of Natural Selection"!!!!! Too many of today`s wage "earners", and welfare careerists, have descended to a level of cogitative listlessness, hitherto unencountered outside of the scope of botanic studies. How anyone can watch debt levels, double, triple, quadruple etc., and still fail to get the hint, is indescribably incomprehensible.
Agree to a point. It is important when making comparisons with other nations to suit an argument. As Australias debt to GDP percentage is rather attractive compared to the USA and Euro nations. However, surely with our mining sector on the slide and our up and down agricultural sector doing it tough, we should be looking toward knocking back that percentage a little while we can. If we keep saying we are doing great in comparison to ...... . We may not see the shadow looming behind us. So yes debt to GDP is a defining factor, by using it as a comparison to explain rising debt away is folly to the fool. Recognise it as debt regardless and pay it down when it is possible to do so. GFC aside, it is still rather alarming that our percentage debt to GDP has basically doubled since 2008. That is three years. GFC had some bearing on this, but DOUBLE ! http://www.statista.com/statistics/...bt-in-relation-to-gross-domestic-product-gdp/
The one thing I have figured out is that NOTHING can be relied on. We just have to have faith sometimes. OK How many, or who has a mortgage, come on be honest. Large loans you may have are 1: A home loan, or 2: A business loan. Now both loans put you in debt, so why did you go into debt? Hopefully so in the long term you would profit. Your loan is based on past income or performance, maybe some surety, but it is repaid on future earnings, something that cannot be relied on usually. You are also relying on economic circumstances to be stable or improve, this is also something that cannot be relied on usually. But we do it, we make an educated (hopefully) speculative decision to get the loan. Now honestly, of those of you that have a mortgage, how many of you could not possibly have bought a smaller, or cheaper, or one located in a cheaper area, house. Who honestly among you could not have managed with a less expensive investment, but took the one you did because you could? I have no debt, zero, not one dollar. Does that make me smarter than those of you that do, does it make me wealthier, does it make me better off. No I would nearly guarantee I'm not, well not in a capitalistic view. But I am happy as I am.
Agreed that debt is a fact of life. The mortgage comparison, is relevant to a point, also agree on that. Re the mortgage scenario, lower is always better, obviously. A mortgage, should ideally, be taken out for the purposes of accommodation, and capital investment. Furthermore, in the situation, where future earning capacity is doubtful, or dubious, it is prudent to reduce debt as much as possible, not to maximise debt.
So whats the big deal about the debt we are in, in reality, we as a nation, owe less money per person i.e. per capita, than those countries mentioned, all countries similar to Australia economically, maybe as some have said the US was on it's way down before the GFC,maybe that is what contributed to the GFC. We are all only speculating on what would have happened if we had not put up the stimulus package, or what the conservatives would have done instead had they been the ones in power. What we do know is that we came out relatively unscaved and we have a good chance of coming out smelling sweet. Yes we are in debt, a lot of it, but in reality it is quite reasonable in todays economic climate. Yes it would be great to be debt free, but what is the cost. I am debt free, but I do not have a wife, and my children are all independent, and yes it cost me a lot to get them to that stage, but now I have paid all that off, it took a long time and a lot of had work but we made it. Would I be living like I am now if I had a wife and dependent children, heck no, I would be in debt, and I would be working and have a larger capacity to pay the debt, that is life in the 21st century. We cannot go back to "the good old days" and in a lot of ways, why would we want to?
Yes you are right, it is OK to borrow for certain purchases or projects that result in an asset owned. So tell us, what assets did we get for the $40 billion in the bank Kevy started out with plus the $140 Billion labor has borrowed since? This is money over and above the federal governments normal income from taxes etc. John Howard and Peter Costello ran the country just fine for over ten years on nothing but normal income without any borrowings.
I am also not sure what debt we are talking about. The entire government budget is only $250 billion a year (you only have to look at the budgets forecasts when the budgest are hadned down. The last few have come to around $240billion) so how can we have $290 billion of debt. That would mean that the government had absolutely no income for one year and everyone who pays taxes can attest to the fact that that did not occur. So again I would need to know what debt you are specifically talking about!
well this graph looks fairly good IMHO, my extrapolations show not much has changed, oh yes there are a few bumps since Labor was elected in 2007 but then we also had a GFC. Like I said, any different result with different parties and only conjecture. http://www.tradingeconomics.com/australia/government-spending
I believe this sentiment is within reason and commonsense that the majority can understand. Most year 9 & 10 high school students are taught fundamental economic principals. Does not the first fundamental principal and lesson teach students that a business must own the majority of its own company assets for it to survive, and a business must produce and export/sell more than it imports/buys for its own sustainable future? Overlay these fundamental lessons onto what’s happening within Australia right now, and the obvious is fairly clear what’s happening, and about to happen. Australian politicians have sold nearly every Australian asset to foreign investors; down to 90% of its natural resources, and up to 45% of its prime agricultural land. The Australia tax payers are now leasing back ports and airports from foreign owned companies over 99 year contracts at a cost of nearly 20 times what the asset was originally sold for. I’m sorry, but this doesn’t make any bloody economic sense, and if I had of operated our family business in the same way, it would have been bankrupted decades ago. Where the hell is the logic in selling good profit making public owned assets like: Commonwealth bank; Telstra, Qantas, airport, ports, roads & tolls, where 100% of the profits from these public owned assets could be going back to the Australian Government and its people. When a business doesn’t manufacture anything of significance, how is it suppose to generate revenue? This is where Australia and the Australian people are at right now: politicians are being reduced to desperately come up with extra taxes like the mining supper profit tax. They are such scum-bags and snake oil salesmen, that this tax has nothing to do with giving the people of Australia a fair share of the mining tax, its all about them getting additional revenue money that they have not got, because these scum-bags have nothing left to sell or tax. Why are these scum-bags not putting a supper profits tax on banks, and only on mining companies. Don’t banks generate supper profits also, or are they too scared to tax the foreign owned Jewish cartels?
Well just getting away from the Jewish taking over the world and the New Order fearmongerers (I mean it is Chinese Japanese and Suadis who own most of the US debt through treasury bonds and so when they come calling to cash them in or we will create world war three, are you going to call those three groups Jewish). The rest of your post is extremely accurate. This true that if you sell something you no longer derive a income from it and in most cases as you stated you actually have to pay for the service or product. The fact the government owned and ran businesses before such as Telstra and Commonwealth Bank, means we can do that in this country. With the closure of Fords Geelong plant in 2016 and Fords total pullout of the country bythe end of that year, the government should create their own motor manufacturer say Southern Cross Motors, and the Monday after Ford close the dorrs for the last time the government funded compnay move in and keep operations going on as if nothing happened. the infrastructure is already there, so no up front costs needed and the workers will all be paid unemployment benefits anyway by the government, and we were subsidising teh comapny to the tune of $50 million a year so why not go the whole way. Some with Woolworths and Coles. that duopoly needs to be broken and the government can do that by operating a retail supermarket chain. Just partner with Aldi and we already have a chain of stores. This situation can be fixed but not by politicians beholden to lobby and business groups.
A government is not a business, it is not there to make money or lose it. Governments are there to deliver services & provide security. A properly run government should not have to borrow money to buy military equipment except in times of national emergency. Big capital items such as ships & aircraft are planned for many years in advance & tax levels/defense budgets adjusted over time. The same applies to other departments. I can understand the Australian government having some debt to help maintain lines of credit for emergencies but if debt keeps going up at times when things are relatively calm & expenditure/taxes can be planned for & balanced it does not make the current Labor government look good.
