OT: Current Affairs and Politics

Discussion in 'Parramatta Eels' started by Gronk, Dec 10, 2018.

  1. Gronk

    Gronk Moderator Staff Member

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  2. strider

    strider Post Whore

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  3. hineyrulz

    hineyrulz Post Whore

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    It never rains in Brisbane anymore FFS Gary!!
     
  4. Gary Gutful

    Gary Gutful Immortal

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  5. hindy111

    hindy111 Referee

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    strider and Gary Gutful like this.
  6. Poupou Escobar

    Poupou Escobar Post Whore

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  7. Gronk

    Gronk Moderator Staff Member

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    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.
     
  8. Poupou Escobar

    Poupou Escobar Post Whore

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

    Gronk Moderator Staff Member

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

    [​IMG]
     
  10. Poupou Escobar

    Poupou Escobar Post Whore

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    Here I was thinking it was out of thin air.
     
  11. Twizzle

    Twizzle Administrator Staff Member

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

    Bandwagon Moderator Staff Member

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

    Bandwagon Moderator Staff Member

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    Politicians don't create money , they consume it.
     
  14. Bandwagon

    Bandwagon Moderator Staff Member

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    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?
     
  15. hindy111

    hindy111 Referee

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    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.
     
  16. 84 Baby

    84 Baby Coach

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    *Vae
     
  17. Gary Gutful

    Gary Gutful Immortal

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    Holy f**k! Where did that f**ken loaf of bread come from?
     
  18. hindy111

    hindy111 Referee

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    Unsure but
    @Gronk did you stimulate this bread roll also?
     
  19. Gary Gutful

    Gary Gutful Immortal

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    [​IMG]
     
  20. Bazal

    Bazal Post Whore

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    Sure looks like someone did.

    It's been erected in no time at all!
     
    hindy111 likes this.

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