The 2013/2014 Off Season Thread

[Gronk]

Baz, if we don't tighten our belts then when the next crisis hits we'll have that $667bn debt and we'll be f**ked.

How stupid are people? Everyone f**king going on about how we're not as bad off as others blah blah blah:

1) That's like saying it's OK that I've only got one leg cut off because that guy over there has both his gone;
2) The way we will avoid becoming as f**ked as everyone else is by tightening our belts before we get there.

Seriously, all I see right now is a bunch of ignorant f**kwits babbling on when they don't have a f**king clue what they're talking about. Our expenditure is about ready to explode yet everyone is f**king ignorant of what is staring them right in the face.

The one good result from this, though, is that I get yet another example of how much more f**king intelligent I am than 99.9% of the population of this country, some posters here included.

So you prefer to listen to Hockey & Abbott about the "crisis" rather than rational economic advice from economists & bankers from both here and around the world ? FYI Hockey & Abbott have zero economic training - they are both lawyers. They have never worked in finance and never had to deal with such a holistic assessment of such a large wad of cash. The closest Hockey got to this area of law is that he worked for a short time with a firm who gave advice on mergers & acquisitions. Do YOU actually know where they are getting their advice from ? I thought not.

Why is it that respected economists and commentators (other than those like Alan Jones) laugh at the suggestion that our triple A rated economy is in crisis. If you listen to the rhetoric laid on thick by Hockey and Allan Jones, we are tinkering on the edge of a Greek like catastrophe.

No reasonable person will disagree that the balance sheet needs some forward thinking and perhaps a broad based GST will work, but it needs to be implemented with bi-partisan support. For Abbott to do what he is doing is very underhanded.

He'll cave anyway rather than risk losing a bunch of seats at a double disillusion election.

 

[Twizzle]

The PPL wont affect the poor, they don't have a job. It also wont affect the tradies as they are all mostly subbies.

The only ones that will benefit are the shiny arses.

 

[Maroubra Eel]

Is anyone else worried that the addition of Malabar Eel may undermine Maroubra Eel's credibility?

I don't have any credibility mate.
Also Malabar Eel is a great addition to this forum. He knows his stuff.

 

[Gronk]

The PPL wont affect the poor, they don't have a job. It also wont affect the tradies as they are all mostly subbies.

The only ones that will benefit are the shiny arses.

Wrong. Abbott is taxing the 3,000 biggest companies 1.5% to fund the PPLS. So apart from the fuel excise being indexed (which means annual increases) punters will pay more at coles & woolworths because the PPLS will just be passed on to the consumer.

ABOUT 800,000 businesses will benefit from a company tax cut from mid 2015. The federal government will cut the company tax rate 1.5 percentage points to 28.5 per cent from 1 July 2015 to help boost profitability.
Big business will miss out on the benefits of the tax cut, with the government imposing a 1.5 per cent levy on the 3,000 biggest companies to fund its paid parental leave scheme.

http://www.goldcoastbulletin.com.au...-company-tax-cut/story-fnj94l9i-1226916484807

 

[Twizzle]

how is that relevant ?

how will the PPL benefit those who dont work or are on sub contract rates ?

if they dont work they dont receive it

your political spin doctoring is nothing but a Tony Abbott lip service response

 

[Joshuatheeel]

Wrong. Abbott is taxing the 3,000 biggest companies 1.5% to fund the PPLS. So apart from the fuel excise being indexed (which means annual increases) punters will pay more at coles & woolworths because the PPLS will just be passed on to the consumer.

http://www.goldcoastbulletin.com.au...-company-tax-cut/story-fnj94l9i-1226916484807

Big businesses won't be any worse off, they are getting the 1.5 % tax cut but then slugged with 1.5% PPL levy

 

[hineyrulz]

Is anyone else worried that the addition of Malabar Eel may undermine Maroubra Eel's credibility?

Impossible. ME is the most respected poster on these forums and a trumped up imposter will do nothing to undermine the credibility he has built up in here over the years.

 

[Barry O'Speedwagon]

....and at the end of the day, changes to taxes company tax rates also affect the amount of imputation tax credits claimable by Australian resident shareholders.....so tax effects of changes to the corp. tax rate are not as clear as many people assume and depend on the ownership structure and dividend policy of the companies affected. But there goes my ignorant arse again.

 

[The Elephant In The room]

See my example above.

I think there needs to be a limit on the family home that is fair. I agree we shouldnt be making people leave there area and support circle but they also shouldnt have a house worth millions. And also different areas have houses worth different amounts.

Limits are always tricky, especially when it comes to real estate. The average house price in Sydney is nearing $800k, Hobart is about $350k, and the rest of the capital cities are somewhere in between. So effectively any limit is likely to create disparity simply because of where you live.

 

[Malabar Eel]

Impossible. ME is the most respected poster on these forums and a trumped up imposter will do nothing to undermine the credibility he has built up in here over the years.

Agree 100%. Top post Hineyrulz.

 

[Maroubra Eel]

Impossible. ME is the most respected poster on these forums and a trumped up imposter will do nothing to undermine the credibility he has built up in here over the years.

Cheers mate.

 

[oldmancraigy]

Why is it that respected economists and commentators (other than those like Alan Jones) laugh at the suggestion that our triple A rated economy is in crisis. If you listen to the rhetoric laid on thick by Hockey and Allan Jones, we are tinkering on the edge of a Greek like catastrophe.

Ross Gittins is fairly well respected, and he actually liked most of the budget - he suggested that opponents would simply point out that "we aren't as bad as Greece yet" as if somehow that is an aspirational goal :lol:

For every point there is a counter point, and every argument has a counter argument. How exciting is politics.

 

[Hollywood Jesus]

My "ignorance" comment was in relation to idiots who keep going on about the OECD.

Seriously, we're comparing ourselves to a bunch of f**ked economies in most cases. Like I said, it's like being OK with losing one leg because some other f**kwit lost two. It's a ridiculously stupid comparison to make.

If you want to make comparisons with OECD countries then look at projected spending over the next decade. Ours has a higher growth rate and that's bad.

I understand that people have different opinions about what should be cut, what should be left, what areas should be sacrosanct etc. I'm fine with all of that and not giving anyone shit about it (yet... )

Once again, my problem lies with the statements of ignorance comparing us to a bunch of f**ked economies. Don't trot that line out because it highlights how moronic you are.

 

[Barry O'Speedwagon]

Once again, my problem lies with the statements of ignorance comparing us to a bunch of f**ked economies. Don't trot that line out because it highlights how moronic you are.

Is it acceptable to compare us to the US or the UK then?

 

[Hollywood Jesus]

Also, in relation to the PPL, I think it's the most socially progressive policy being put forward at the moment.

Think about it - your daughter busts her arse to get a good education, a sweet job, some well-earned promotions...and the government recognises that and allows her to keep the same wage as she had worked hard to achieve. That's a f**king amazing recognition for women during the most important time of their lives (don't forget we need babies, people).

I'm a big fan of the PPL and I think that the $100,000 limit is a good compromise under current circumstances.

 

[Hollywood Jesus]

Is it acceptable to compare us to the US or the UK then?

Because the US is doing so well...(not to mention the fact that they're a totally unique economy).

 

[Barry O'Speedwagon]

Because the US is doing so well...(not to mention the fact that they're a totally unique economy).

Oh, ok. So which comparisons are valid...only those that suit your argument?

FWIW. US govt debt to GDP is presently > 100%, and has not been lower than 55% since 1996 (and has been above 60% for all but 3 years since 1996). Their record lowest debt ratio since the beginning of WWII is 30%.


UK Govt debt to GDP is presently about 90% and the lowest it has been since 1980 is 30%, and would average close to 50% across that time period.

What was the Aust govt debt to GDP ratio at its most recent peak? About 27%.

There's no crisis. But it is sensible to constrain spending and borrowing.

 

[Maroubra Eel]

Also, in relation to the PPL, I think it's the most socially progressive policy being put forward at the moment.

Think about it - your daughter busts her arse to get a good education, a sweet job, some well-earned promotions...and the government recognises that and allows her to keep the same wage as she had worked hard to achieve. That's a f**king amazing recognition for women during the most important time of their lives (don't forget we need babies, people).

I'm a big fan of the PPL and I think that the $100,000 limit is a good compromise under current circumstances.

Garbage. Let family's pay for their own babies.

 

[Daneel]

F*ck me this thread has lost the plot. Bring back the wine and food snobs

 

[Gronk]

Also, in relation to the PPL, I think it's the most socially progressive policy being put forward at the moment.

Think about it - your daughter busts her arse to get a good education, a sweet job, some well-earned promotions...and the government recognises that and allows her to keep the same wage as she had worked hard to achieve. That's a f**king amazing recognition for women during the most important time of their lives (don't forget we need babies, people).

I'm a big fan of the PPL and I think that the $100,000 limit is a good compromise under current circumstances.

Obviously you don't have kids. Couples plan to be without income when the baby comes. They already get assistance by way of parental leave pay, baby bonus etc. What they can't afford is the $120 per day for child care that has to be paid for years and years after mum goes back to work - if she can afford it. Some mums who get min wage don't bother cos after paying $5/600 per week in child care, they end up working for little or no reward. Mums want the whole long term child care issue looked at. Not a cash payment brought about cos Tony was told that he was losing female voters.