The ALP is hitting Australia with record levels of Government Debt

We shouldn't have a freakin debt you clown.... we should have an almighty surplus.......but we have a 260 billion dollar debt....what part of that little issue are you not getting?

What part that a 260 billion dollar debt means our taxes we pay goes to these focking bankers that are not even Australian?

What part are you not getting that this freakin Govt had no right at all to make us debt slaves to international bankers when there was no need to do so?....do you understand the word treason yet? The ALP were working for a foreign entity!

If the Libs don't demand a Royal Commission into what the ALP did to Australians then we must demand that both parties are not working for the benefit of Australians and demand a new system of Government...CITIZEN INITIATED REFERENDUM!

 

No, I get it. You have zero clue what you're on about.

Welcome to my IL club.

 

Yes Australia has record debt.
BUT......
We also have seen a big increase in GDP.
BUT.....
We also have never owed so much per person.

Putting political persuasions and conspiracy agendas aside, we have just gone through, and still going through, an economic upheaval of the kind we have not seen before. People make comparisons to the Depression in the thirties. It is not the same. Economies were different, both locally and globally.

Every business needs to run debt at certain times, especially when business is bad. I personally think that the ALP has taken it too far. At first there was a need to spend, to protect productivity and therefore jobs and businesses. They were the Rudd years. The Gillard years most will look back on with a frown. They have spent IMO on furthering their own cause.......votes. Their has been so much waste from them, we can not ignore it. Rudd had an excuse, Gillard has none, other than self serving interests.

Question is..... Do either of these parties deserve to hold office ? NO.

However one party deserves it less than the other. She MUST GO ! They MUST GO !

If you had a manager that had done what they have, you would of fired them ages ago. The next one may be no better, but the previous didn't deserve to stay on that basis.

 

No,they've been spending because that what all of the world's expert economists recommend.

 

Hey slippery

I disgaree about the Rudd years, i think his $45 billion dollar stimulus was what the economy needed at the time and thankfully we didn't feel the full effects of the GFC in 2008.

Now i hear alot of people calling him a twit for doing that.

Would these same people be cheering bravo if he had given to the banks????

We saw what bankers in other countries did, intead of leanding the money to the people they hung onto it and sprayed themselves with their typical bonuses and holidays.

So yeah while Gillard is trying to turn Australia into another Greece or Spain.

The Rudd spending was done for a very good reason and imo is one of the reasons why that puppet Julia (brutus) Gillard pulled out the knives after she received her orders to do so from the puppet masters.

Heaven forgive Kev for not giving to the bankers cause they couldn't.

 

As usual Mario you are spot on

Straight from the horses mouth

say no more

 

Agree. With inflation and populace as times goes by this will always be the case or one would hope that the GDP would continue to obviously increase. The circumstances of the GFC have not helped one country, however, Australia sits light years in front of other developed economies. Do we sit back and pretend that we are totally separate from the world economy and it shouldn't have any impact on us. This is how some seem to see it. As stated previously, glowing accolades have been forthcoming from all international economist on the state of our economy, however, lead by the coalition and their obvious slander one would think we were the lowest performing economy on the planet. Australia received AAA ratings for the "first time in history" from all three major international ratings agencies in early 2012.

This is a given statement. This is how the world has rolled since the invention of the monetary systems. Again, it has to be measured in the percentage of overall income! Somebody please shake me, I thought that prices and wages always increased. If this isn't the case then why am I earning more than I was in the 70's. Why are house, cars and cloths prices etc more expensive today.

You are right, it is not the same! as mentioned in previous posts the debt per GDP ratio was 160% or over during the great depression in Australia, but currently sits at 21% in Australia.

The ALP have taken it too far you say, and yet our economy is the envy of the world since the GFC. This statement just does not make sense.

Of course one would want to fire her based on twisted figures and facts.

 

Dont place too much faith in the agencies after all it was these same agencies that rated Credit Default Swaps as AAA.

And just in case you dont know Creit Default Swaps were what brought down the Leeman Brothers and other banks to create the GFC in 2008 in the first place.

And just in case you dont know again these agencies like Standrad & poors, Fitch and Moddys are all creations of bankers, yes bankers pay them to give their OPINIONS to economies.

After they were pulled up for having given triple A ratings to the credit default swaps that have ruined entire nations their excuse was.

IT WAS ONLY OUR OPINION.

Dude you have to wake up FFS.

In the early 70's someone working in factory earned around $50 a week and an average house cost $8000.

8000/50 = 160

Average weekly wage today about $1000

Average cost of a house $400,000

400,000/1000 = 400

The way we're going with this carbon tax and its flow on effects pretty soon we will be working just to feed ourselves, no more holidays, no more eating out, no more buy your own home.

Inflation is going up but our wages are not, most companies are saying we have a GFC we cannot give you a raise. Yet things are getting more expensive by the day.

Except if your a politician, then raises are guaranteed.

AND what do these statistics do for your pocket??????????????/

Our economy is riding on the mining boom take that away and the IMF would be knocking on our front door demanding $260 billion dollars or austerity measures for the general populace to pay them back.

She is working for the bankers and on that note she has to be booted out on her ear, we elected her to work for Australia and her people.

You want proof here it is straight from the horses mouth.

 

Whether it is evidentially true that they knowingly overrated investment opportunities is still to be known and not something I know enough about to speculate on. Obviously major investors are still hinging their funds on the word of this agency and one would think that they would be more careful with providing credit ratings while under intense scrutiny. The fact remains, that Australia has received a triple A rating whilst other developed countries have been downgraded. If Australia lost its triple A rating I'm sure right wingers would have been going to town on this, but as is normal there is always going to be negative spin despite what positives are brought to light.

What has this got to do with debt per GDP ratio???

Pleassse D&D, it is time to give up on the carbon price impacts. Sure there are some who have had some impacts, much the same as the GST but businesses and people have to be smarter. A majority of people feel as though it has had no impact. Inflation and cpi issues have always been around in terms of wages. What causes inflation? I think you are just playing silly buggars.

Thank God for our resources! Why does that have to be turned into a negative? We have plenty of time to develop other industries before we completely go down the gurgler and in fact I believe this is one of the governments focus areas. Rudd now Gillard are doing a good job building up Australia with broader measures to secure the future. Abbott is a complete mystery but for recent comments that he wants to go down the austerity track....will that make you happy?

 

Since when did we borrow $260b from the IMF? Bonds are bought by everyone. Australian bonds are seen as a safe investment by many people.

 

ALP = biggest debt in our history tank...admit it

 

If you dont beleive me google it its there for everyone to see.

Standard and Poors, Finch and Moodys were all created by the bankers and banks to give their OPINION on the economy of nations.

If bankers and banks pay them then they also control them, understand?

Exactly what does your pocket have to do with GDP ratio and percentages?????

You mean to tell me you haven't felt the effects through your energy bills?

Most people have!!! and its going to go up 2.5% above inflation next year and the year after that.

Do you understand what this means, if inflation at the end of this year is 3% then the carbon tax next year will be raised by 5.5% got that.

Now are your wages rising by 5.5% next year?????

Thank god for our resources??? and bless those few that really make a good profit from them cause it aint the general population thats for sure, lets say a pray for rio tinto and bhp or for the people that own them shall we.

You and i will not benefit from them thats for sure, not while Swan is writing the policies of the mining tax.

But dear old Al Gore said back in 2006 we only had 5 to 10 years to change things around, were nearly there and we still haven't done much about it so i guess we're going down the gurgler for sure then.

Gillard has sold us all into financial slavery for ever, that includes you too.

 

The IMF is the bank of international settlements and the world bank's policeman, if there is debt to be collected they will come knocking on our door, and if we aint got the money they will tell our government to implement austerity measures.

Just look at the rest of the world.

BTW tank if too many people invest in our bonds they will depreciate.

.

 

Well done D&D for bringing up the BIS, the bank that no one knows about but rules over all central banks in the world. About bloody time people started to look into this bank and what it does a lot more!
__

So who controls the money?

The central banks of the world do.

And who controls those central banks?

The Bank for International Settlements does.

If we don't like what the Bank for International Settlements is doing, can we do anything about it?

Nope. The Bank for International Settlements is above the law...

Maybe we'd feel better about the BIS if it were more transparent, but most everything about it, including its bi-monthly member and board meetings, is shrouded in secrecy. And perhaps more worrisome is that the BIS is free from oversight. By rights granted under its agreement with the Swiss Federal Council, all of the bank's archives, documents and "any data media" are "inviolable at all times and in all places." Furthermore, officers and employees of BIS "enjoy immunity from criminal and administrative jurisdiction, save to the extent that such immunity is formally waived . . . even after such persons have ceased to be Officials of the Bank." Finally, no claims against BIS or its deposits may be enforced "without the prior agreement of the Bank."

In other words they can do whatever they want, without consequences. How's that for a leak-proof legal umbrella?

 

Hi Mario

Hey dude lets just say (i know i'm dreaming here) but lets just say that one day our elected PM says to the BIS you can no longer own our federal reserve bank and we will be taking charge of all our money supply.

Can our government not take over its own money supply if it wants to?

I guess the downside would be that we would not be able to borrow money from overseas corporations if we headed down this track.

Could our government do such a thing?????

 

Gadaffi tried and look at what happened to him and Libya

 

I also read an article which i cant find now that said Saddam hussien was about to change trading his oil with Iraq to Euros, thats why Bush invaded, he was in the process of getting rid of his US dollars and exchaning them for euros, i'll have a search for it.

I guess if we tried something like that we would be attacked financially.

 

There is nothing to suggest that S&P & fitch and moody's were established by the banks. Was this part of your conspiracy theory? The discussion was more to do with the part they played in the GFC and the value of their ratings. They've been around for 150 years doing the very stuff that they are doing today.

What is there to whinge about....Our economy is quite healthy, which is great for us, or do you have another conspiratorial take on this?

Nope! I am one of the many who haven't felt the effects. Obviously the governments tax cuts and pension increases have assisted everyone as anticipated. You said we were going to be doomed come july 1 last year but it passed, you then said you have to give it a couple of months-but nothing, you said give it at least six months-still nothing. Nobody is really concerned with the carbon price, just as they were with the GST after realising the sky wasn't falling in. You can go on your crusade with this, but as I said people really don't care because Australia hasn't fallen to pieces.

Right, and this makes a lot of sense. So money that is supposed to circulate as a consequence of the mining industry simply dissipates into thin air. D&D, you are not making any sense on any of it. It seems as though you are just looking for negative spin to support your rusty old hole ridden theories!

 

The premise of the thread is that Tank and the other ALP goons want to show that the alp hasnt racked up debt...That premise has been shown to be false and that the alp has racked up the biggest debt in our history.

 

I never said established by banks i said run by bankers and financiers.

Standard and poors
http://2013rainbowroundtable.ning.com/profiles/blogs/who-owns-standard-and-poor-s

Moody's
http://stockzoa.com/ticker/mco/

Fitch
http://en.wikipedia.org/wiki/Fitch_Group

Businesses are closing, people are losing their jobs and you say our economy is healthy??

You haven't felt its effects hey well now i know your bullsh!tting.

I think you'll find that many Australians are indeed concerned about the carbon price and this will be reflected in the election when Gillard and the worst government in our history come tumbling down.

The GST went to our government which then came back to us through schools roads hospitals etc etc , the most expensive carbon tax in the world will be going to the UN and foreign corporations we wont be seeing any of it, thats billions of dollars.

Like i said find out what the rate of inflation at the end of the year and then add another 2.5% on top of that for the hike in the carbon tax.

I'm afraid the mining companies have out foxed wayne swan and he (swan) wont be getting his billions in revenue, he's too stupid to be a treasurer, he should be a back bencher at best.

But the best is yet to come, despite being asked pepeatedly whether or not he would consider raising taxes to make up the surplus, he still hasn't said yes or no.

So you might find yourself losing abit more of your paypacket cause that stupid pr!ck got out foxed by the mining companies.

 

This is from your post #12: "Standard and Poors, Finch and Moodys were all created by the bankers and banks to give their OPINION on the economy of nations." Respond to the rest tomorrow

 

Yes i'm wrong about that and you are right.

Just goes to show not to believe everything you hear.

.

 

and yet we still have the biggest debt in our history and the alp stooges dont admit it

 

And what is worse is that Gillard (zio banker whore) is going to get a pension for life for turning us Aussies into slaves to those bankers that should be swinging by the neck from lamp posts!

 

I hope she gets booed and egged everywhere she goes for her unpunished crimes against the people of Australia.

That b!tch should be in jail for treason.