OT: Current Affairs and Politics

[Gronk]

Question

Are we going into a recession?

You are in a recession if you have two successive quarters of negative economic growth. The economy is contracting, however we are yet to actually have a quarter of negative. Last quarter was 0.5% on the positive.

I don't like to be political here (again), but in a contracting economy the government should be spending to stimulate the economy. They say they are focussed on "jobs and growth" yet the economy is contracting and yesterday the unemployment rate went up. Instead they are focused on their stupid surplus. It's not even a real surplus. Just a cash book surplus, because they have tripled the debt since 2013. Remember when they campaigned against Gillard's debt that "our grandchildren will be repaying for decades to come" ??

Money is cheap. They should borrow a shit-ton of cash and build shit. It puts cash into the economy and the ripple effect is .... wait for it .... jobs and growth.

 

[Gary Gutful]

You are in a recession if you have two successive quarters of negative economic growth. The economy is contracting, however we are yet to actually have a quarter of negative. Last quarter was 0.5% on the positive.

I don't like to be political here (again), but in a contracting economy the government should be spending to stimulate the economy. They say they are focussed on "jobs and growth" yet the economy is contracting and yesterday the unemployment rate went up. Instead they are focused on their stupid surplus. It's not even a real surplus. Just a cash book surplus, because they have tripled the debt since 2013. Remember when they campaigned against Gillard's debt that "our grandchildren will be repaying for decades to come" ??

Money is cheap. They should borrow a shit-ton of cash and build shit. It puts cash into the economy and the ripple effect is .... wait for it .... jobs and growth.

Agree 100% with this.

 

[TheRam]

You are in a recession if you have two successive quarters of negative economic growth. The economy is contracting, however we are yet to actually have a quarter of negative. Last quarter was 0.5% on the positive.

I don't like to be political here (again), but in a contracting economy the government should be spending to stimulate the economy. They say they are focussed on "jobs and growth" yet the economy is contracting and yesterday the unemployment rate went up. Instead they are focused on their stupid surplus. It's not even a real surplus. Just a cash book surplus, because they have tripled the debt since 2013. Remember when they campaigned against Gillard's debt that "our grandchildren will be repaying for decades to come" ??

Money is cheap. They should borrow a shit-ton of cash and build shit. It puts cash into the economy and the ripple effect is .... wait for it .... jobs and growth.

Or they should by pass the middle man(banks) and just issue a shit ton of money themselves and build shit. It puts cash into the economy and the ripple effect is .... wait for it .... jobs and growth.....and no debt to the economy.

 

[Gary Gutful]

Or they should by pass the middle man(banks) and just issue a shit ton of money themselves and build shit. It puts cash into the economy and the ripple effect is .... wait for it .... jobs and growth.....and no debt to the economy.

The Australian Sovereignty Party would make it happen.

 

[Gronk]

Or they should by pass the middle man(banks) and just issue a shit ton of money themselves and build shit. It puts cash into the economy and the ripple effect is .... wait for it .... jobs and growth.....and no debt to the economy.

The Reserve Bank has already put quantitative easing on the table. Google it.

 

[Happy MEel]

The government is addicted to the revenue just as much as smokers are addicted to nicotine, the neat thing about combating smoker rates with higher prices is that the only real way to jack up the price is through jacking up the tax / duties. so consumption drops, but revenue increases.
http://www.treasury.gov.au/sites/de...2185_tp_tobacco_forecasting_working_paper.pdf

Links to pdf, chart on page two, shows a tad over 6 billion dollars in 07/08 with fairly consistent increases through to 17/18 where it tops out just shy of 12 billion dollars.

Absolutely, they tax the shit out of it now and there are still sufficient numbers who smoke. However, consumption is dwindling and that’s going to lead to less revenue once that tipping point is reached where smokers simply can’t afford to buy cigarettes.

 

[Twizzle]

The government is addicted to the revenue just as much as smokers are addicted to nicotine, the neat thing about combating smoker rates with higher prices is that the only real way to jack up the price is through jacking up the tax / duties. so consumption drops, but revenue increases.
http://www.treasury.gov.au/sites/de...2185_tp_tobacco_forecasting_working_paper.pdf

Links to pdf, chart on page two, shows a tad over 6 billion dollars in 07/08 with fairly consistent increases through to 17/18 where it tops out just shy of 12 billion dollars.

Its an interesting scenario but there is no evidence to suggest that vaping or e-ciggys are safer than normal cigarettes, according to the American heart foundation, so the questions remains, why smoke them ?

• Most e-cigarettes deliver nicotine, which is highly addictive and can harm the developing brains of teens, kids and fetuses in women who vape while pregnant. Some types expose users to even more nicotine than traditional cigarettes.
• In addition to nicotine, e-cigarette vapor includes potentially harmful substances such as diacetyl (a chemical linked to a serious lung disease), cancer-causing chemicals, volatile organic compounds (VOCs), and heavy metals such as nickel, tin, and lead. Users breathe in these toxic contaminants, and non-users nearby risk secondhand exposure.
• The liquid used in e-cigarettes can be dangerous, even apart from its intended use. Children and adults have been poisoned by swallowing, breathing or absorbing the liquid through their skin or eyes.
• E-cigarettes have been linked to thousands of cases of serious lung injury, some resulting in death. While the exact cause is still not confirmed, the CDC recommends that people not use e-cigarettes.

https://www.heart.org/en/healthy-li...-smoking-tobacco/is-vaping-safer-than-smoking

 

[Happy MEel]

Its an interesting scenario but there is no evidence to suggest that vaping or e-ciggys are safer than normal cigarettes, according to the American heart foundation, so the questions remains, why smoke them ?

• Most e-cigarettes deliver nicotine, which is highly addictive and can harm the developing brains of teens, kids and fetuses in women who vape while pregnant. Some types expose users to even more nicotine than traditional cigarettes.
• In addition to nicotine, e-cigarette vapor includes potentially harmful substances such as diacetyl (a chemical linked to a serious lung disease), cancer-causing chemicals, volatile organic compounds (VOCs), and heavy metals such as nickel, tin, and lead. Users breathe in these toxic contaminants, and non-users nearby risk secondhand exposure.
• The liquid used in e-cigarettes can be dangerous, even apart from its intended use. Children and adults have been poisoned by swallowing, breathing or absorbing the liquid through their skin or eyes.
• E-cigarettes have been linked to thousands of cases of serious lung injury, some resulting in death. While the exact cause is still not confirmed, the CDC recommends that people not use e-cigarettes.

https://www.heart.org/en/healthy-li...-smoking-tobacco/is-vaping-safer-than-smoking

The fact NO e-cig supplier has applied to put their product through the Therapeutic Goods Administration so it can claim smoking cessation status speaks volumes. If any of them did and it passed their profits would go through the roof. They clearly aren’t confident in what they are supplying.

 

[hineyrulz]

He looks like a sixth grade park cricketer hacking the ball out to cow corner for a streaky, sedately run one

Looks remarkably like Fatty Funch.

 

[Poupou Escobar]

Thanks Miranda.

Enjoy your champagne, Socialist.

 

[hindy111]

You are in a recession if you have two successive quarters of negative economic growth. The economy is contracting, however we are yet to actually have a quarter of negative. Last quarter was 0.5% on the positive.

I don't like to be political here (again), but in a contracting economy the government should be spending to stimulate the economy. They say they are focussed on "jobs and growth" yet the economy is contracting and yesterday the unemployment rate went up. Instead they are focused on their stupid surplus. It's not even a real surplus. Just a cash book surplus, because they have tripled the debt since 2013. Remember when they campaigned against Gillard's debt that "our grandchildren will be repaying for decades to come" ??

Money is cheap. They should borrow a shit-ton of cash and build shit. It puts cash into the economy and the ripple effect is .... wait for it .... jobs and growth.

Will a recession be good for me?
I want house prices to fall sharlply

 

[Gronk]

Will a recession be good for me?
I want house prices to fall sharlply

A mate of mine has an Insolvency practice. He wants a recession too.

 

[hindy111]

A mate of mine has an Insolvency practice. He wants a recession too.

Yes but he isn't stuck in his parents shed.

 

[Gronk]

Enjoy your champagne, Socialist.

If you must label me, I prefer social activist.

 

[Bandwagon]

Will a recession be good for me?
I want house prices to fall sharlply

No, because you will get less work, so less money, so houses will be no more affordable than they are today.

Unless of course the price of housing completely collapses , but the ramifications of that is probably the apocalypse.

 

[Poupou Escobar]

If you must label me, I prefer social activist.

*gauche caviar

 

[Gronk]

Well I'm flabbergasted.

 

[Gronk]

*gauche caviar

* gaucho carnivore

 

[Gronk]

 

[Gary Gutful]

Well I'm flabbergasted.

I clicked on the link to the video and didn't see any reference to a new nickel mine.

What mine are they talking about and where is it located?