OT: Current Affairs and Politics

[Gronk]

KRudd’s stimulus package kept us out of recession*.

https://www.afr.com/opinion/kevin-rudd-how-we-staved-off-recession-and-the-gfc-20180913-h15b8z

The Government is going to announce $4b in infrastructure spending today. Compared to what Rudd spent, $4b is a token amount. A bandaid on a gash.

* no I am not saying that we should embark on school halls or pink batts projects, so don’t @ me.

 

[strider]

KRudd’s stimulus package kept us out of recession*.

https://www.afr.com/opinion/kevin-rudd-how-we-staved-off-recession-and-the-gfc-20180913-h15b8z

The Government is going to announce $4b in infrastructure spending today. Compared to what Rudd spent, $4b is a token amount. A bandaid on a gash.

* no I am not saying that we should embark on school halls or pink batts projects, so don’t @ me.

FFS @Gronk

 

[hineyrulz]

Because they are saving for a rainy day?

It never rains in Brisbane anymore FFS Gary!!

 

[Gary Gutful]

KRudd’s stimulus package kept us out of recession*.

https://www.afr.com/opinion/kevin-rudd-how-we-staved-off-recession-and-the-gfc-20180913-h15b8z

The Government is going to announce $4b in infrastructure spending today. Compared to what Rudd spent, $4b is a token amount. A bandaid on a gash.

* no I am not saying that we should embark on school halls or pink batts projects, so don’t @ me.

FFS @Gronk

 

[hindy111]

@Gronk
Stimulate this

 

[Poupou Escobar]

KRudd’s stimulus package kept us out of recession*.

https://www.afr.com/opinion/kevin-rudd-how-we-staved-off-recession-and-the-gfc-20180913-h15b8z

The Government is going to announce $4b in infrastructure spending today. Compared to what Rudd spent, $4b is a token amount. A bandaid on a gash.

Lucky Rudd had so much to spend. I wonder where it all came from.

 

[Gronk]

Lucky Rudd had so much to spend. I wonder where it all came from.

That's easy. John Howard selling off paddocks of the farm. Howard did not achieve a surplus through good economic management. Gladys is doing the same thing with her poles and wires. Land Titles Office, Sydney Buses and there is now talk about the Eastern Suburbs railway being sold off. Does the sale of assets have merit ? Yes sometimes it does. However let's not pretend that the balance sheet is healthy because of some sort of economic wizardry by the LNP. Howard achieved this by asset sale distortion.

Google found this: Assets sold by the coalition: Jan 1997 – $1.5 million + annual lease payments Avalon Airport Geelong Ltd; May 1997 – $3.337 billion Melbourne-Brisbane-Perth airports; July 1997 – $408 million DASFLEET; April 1988 – $730 million Phase 2 Airports; March 1999 – $650 million National Transmission Network; November 1999 – $347 million ADI Ltd; June 2002 – $4.2 billion Sydney Kingsford Smith Airport (plus SACL debt of $1.35 billion); November 1997 – $14.2 billion Telstra 1; October 1999 – $16 billion Telstra 2; November 2006 – $15.4 billion Telstra 3.

 

[Poupou Escobar]

So you're saying Rudd didn't create all the money he spent?

 

[Gronk]

So you're saying Rudd didn't create all the money he spent?

It was all done with mirrors mate. All of it.

 

[Poupou Escobar]

Here I was thinking it was out of thin air.

 

[Twizzle]

KRudd’s stimulus package kept us out of recession*.

https://www.afr.com/opinion/kevin-rudd-how-we-staved-off-recession-and-the-gfc-20180913-h15b8z

The Government is going to announce $4b in infrastructure spending today. Compared to what Rudd spent, $4b is a token amount. A bandaid on a gash.

* no I am not saying that we should embark on school halls or pink batts projects, so don’t @ me.

its over 6 years though, hardly the stimulus we need now

 

[Bandwagon]

Lucky Rudd had so much to spend. I wonder where it all came from.

Mostly from issuing bonds. Like pretty much every government does.

 

[Bandwagon]

So you're saying Rudd didn't create all the money he spent?

Politicians don't create money , they consume it.

 

[Bandwagon]

Didnt alot of people claim we were in a good position to handle the GFC compared to other countries because of previous years of surpluses? .... or was that just the same merkins who bang on about surpluses?

Yes, a lot of people have said that, and mostly that's just people who bang on about surpluses.

There is no doubt that having a bit of cash to draw on was helpful, but did it get us through the GFC?

From memory in 2007 we had around 90 billion in cash and around 50 billion in bonds on issue. By the time 2013 rolled around it was zero in cash around 257 billion of bonds on issue.

June 2019 it was around 542 Billion of bonds on issue.

So from that we can see that having that cash in the bank helped, but with nearly half a trillion dollars built up in outstanding bond issues since,June 2007, does it really make any sense to say we couldn't have raised the money through extra bond issues anyway?

 

[hindy111]

That's easy. John Howard selling off paddocks of the farm. Howard did not achieve a surplus through good economic management. Gladys is doing the same thing with her poles and wires. Land Titles Office, Sydney Buses and there is now talk about the Eastern Suburbs railway being sold off. Does the sale of assets have merit ? Yes sometimes it does. However let's not pretend that the balance sheet is healthy because of some sort of economic wizardry by the LNP. Howard achieved this by asset sale distortion.

Google found this: Assets sold by the coalition: Jan 1997 – $1.5 million + annual lease payments Avalon Airport Geelong Ltd; May 1997 – $3.337 billion Melbourne-Brisbane-Perth airports; July 1997 – $408 million DASFLEET; April 1988 – $730 million Phase 2 Airports; March 1999 – $650 million National Transmission Network; November 1999 – $347 million ADI Ltd; June 2002 – $4.2 billion Sydney Kingsford Smith Airport (plus SACL debt of $1.35 billion); November 1997 – $14.2 billion Telstra 1; October 1999 – $16 billion Telstra 2; November 2006 – $15.4 billion Telstra 3.

My guess is that if we don't sell things to China in a nice way they'd just come and take it in a nasty way.
They buy all the telecommunications. Power stations are all controlled vie PLC and servers etc. If there was conflict all they do is shut it all down. It is most likely too late to play hard ball with them.

 

[84 Baby]

My guess is that if we don't sell things to China in a nice way they'd just come and take it in a nasty way.
They buy all the telecommunications. Power stations are all controlled vie PLC and servers etc. If there was conflict all they do is shut it all down. It is most likely too late to play hard ball with them.

*Vae

 

[Gary Gutful]

It was all done with mirrors mate. All of it.

Holy f**k! Where did that f**ken loaf of bread come from?

 

[hindy111]

Holy f**k! Where did that f**ken loaf of bread come from?

Unsure but
@Gronk did you stimulate this bread roll also?

 

[Gary Gutful]

Mostly from issuing bonds.

 

[Bazal]

Unsure but
@Gronk did you stimulate this bread roll also?

Sure looks like someone did.

It's been erected in no time at all!