Rudd's $10.4bn cash giveaway (1 Viewer)

[tau281290]

Stuff the economic theories, common sense serve better than rigid theories in text books.

Most of this spending is going to repay the skyhigh debt Australians owe after past 17 years of economic growth ( it means 17 years of easy credit to borrow). And the rest of this spending will generate even more debt for the australians (the first home buyers).

So when money is used to pay back debt, it means there will be little gains for economic growth, but that's the main objective of the govt. This also means govt will be less likely to achieve their objectives.

This stimulus package is for short term, there could be some slight increases in growth for the next year or so, then it's finished. All the spending should be neutralised by then when they are either saved or pay off debt.

The govt haven't even thought about what to do in the long term about the financial meltdown, but only talking about tax reforms blah blah blah...

If I had the 1000$$, i would spend it on the sharemarket, but I am not getting any :<

 

[Captain Hero]

Yeah this cash giveaway is ridiculous.

 

[tau281290]

It's not entirely ridiculous, it is just short term, like all the other bailouts in the world. You people say its ridiculous because you're not getting anything.

But without this stimulus package, growth would be falling extremely fast. You don't want to be in a recession next yr or even this yr, do u?

In the long term, all the bailouts in the world could do a lot of harm. But we will see.

 

[Captain Hero]

It's not entirely ridiculous, it is just short term, like all the other bailouts in the world. You people say its ridiculous because you're not getting anything.

But without this stimulus package, growth would be falling extremely fast. You don't want to be in a recession next yr or even this yr, do u?

In the long term, all the bailouts in the world could do a lot of harm. But we will see.

Yeah thanks Economics 2008 student who is basing his entire opinion on Keynes being right (Hint he wasn't some guy won a Nobel prize for proving it, guy's name was Hayek or something, kind of important dude).

 

[tau281290]

Who is Keynes or Hayek?

 

[Captain Hero]

Who is Keynes or Hayek?

Great.

 

[tau281290]

Okay, I wiki'ed these 2 guys. I actually admire Warren Buffett more lol.

 

[katie tully]

lolz gunna spend some cash moniez on stuff i cant afford instead of billz

 

[nicholas.welch1]

The labor government is nothing but a symbol. THEY DO NOTHING but yet say alot...and what they actually do it means jackshit in the scheme of things but some how people say "awww im so glad rudd did that'

Kyoto protocol for an example did NOTHING!! what has happened? all they talk about is what they are going to do in 100 year or 50 years '...cut emissions by 50%...' its a load of shit that is doing nothing but vote grabbing the populas card!! that being this thing they call 'global walming'

I hear people talkng about standard of living... Our standard of living is going to be fuking SHIT if the carbon trade scheme is to be used. You dumb shithead who want it dont realise that you only going to be paying more! tax to the government who pays some shonky European company to somehow stop our emmission. I mean yea if we go over our target...wtf would paying a shit load of money do to fix it...there is still co2 in the air. I think this whole Labor government are a complete pack of wank chops who take the populas stand to grab public support.

Ow yea...and i could have swore that only months ago rudd and his litte arse raper waine swan were trying to slow the economy...not they are trying to boost it...AND swan said that australia should me immune to the credit crysis...aw wait NO WE ARE NOT. it a typical labor governement who do JACK SHIT and dont like making the HARD decisions that HOWARD had to do!! and eventually got slammed for.

Im sure there is some teachers on here...you all thought rudd was your best mate Hmm like all shit... He doesnt want to give you more pay "....get with the times..."

Open your eyes people. A well spoken, clean shaven, blonde haired robot that constantly swivels his way around questions without answering them is your PRIME MINSTER. And the direction they have taken will be in the long run....Poor standard of living...and unskilled workers with SUFFER

 

[sam04u]

I think that comes from your inherent dislike of capitalism, though. The thing about bringing people back into the workforce that say, have been laid out or retrenched, is that you need to rebuild the habits of working in order to bring back some sense of self-respect for people.

I agree. Ofcourse the sense of respect comes from being able to earn money, so it can't be the degrading and failed "work for the dole" system imposed on unemployed Australians during the Howard era. Rather it should be a new system which facilitates paid work (decent wages) for able bodied, unemployed people.

Of course such a system would always exist to prevent people from being completely left by the wayside, but adapting it so that people who are working have a mandatory insurance for disability/inability to work, would substantially increase the overall quality of life of those becoming victims of circumstances.

Quite so. Infact if we had followed Keaings policies on this issue, especially during this era of success and affluence (resource boom) there would already be such a system in place.

 

[sam04u]

dubu-dabada-baba-goo

You are a retard.

 

[tau281290]

Ow yea...and i could have swore that only months ago rudd and his litte arse raper waine swan were trying to slow the economy...not they are trying to boost it...AND swan said that australia should me immune to the credit crysis...aw wait NO WE ARE NOT. it a typical labor governement who do JACK SHIT and dont like making the HARD decisions that HOWARD had to do!! and eventually got slammed for.

Well, they couldn't predict the meltdown happened so fast, therefore they were shortsighted. But you can't blame them for being shortsighted. They just did the appropriate action, like any govt would do. The liberal govt would've done similar policies to stimulate the economy right now if they were in power anyways. They wouldn't wanna see the economy going down and do nothing.

I do't think Wayne Swan said anything about australia being immune to the credit crisis. They merely said Australia is in a good position to withstand the crisis.

And stop playing the game Crysis, so ur spelling LOL.

 

[melanieeeee.]

From news.com.au:

Pensioners and carers

Australia's four million pensioners, carers, and seniors will benefit from December 8.

Single pensioners will receive a lump sum payment of $1400 while pensioner couples will receive $2100.

People receiving the carers allowance will also receive $1000 for each eligible person in their care.

First homebuyers

First homebuyers will be eligible for grants of up to $21,000 designed to stimulate housing activity.
The scheme will be time limited. All contracts entered into by June 30 next year will be eligible for the new assistance.

The payment under the first home buyers scheme will be doubled from $7000 to $14,000 and first home buyers who buy newly-constructed home will receive an extra $14,000 taking their total grant to $21,000.

The Government will invest about $1.5 billion in the housing market over 2008/09 and 2009/10 through this initiative.

Money for kids

The Government said about 3.9 million Australian children will receive a $1000 one-off benefit from December 8.

Families who receive Family Tax Benefit (A), families with children who receive the Youth Allowance, Abstudy or a benefit from the Veteran Children's Education scheme will be eligible.

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IHMO, this is bullshit. heres why:

assuming the economy actually requires stimulus, there are 2 ways to go about it:
-give money directly to poor people
-spend money on public services and infrastructure (eventually going to the pockets of workers anyway)

rudd has picked the first
Yes, the people who receive the money will have a higher MPC than the construction executives and teachers (=a quick growth boost)
however, over the long term, smarter people who get to work faster will promote faster and more sustainable growth anyway

sorry but you are assuming that the ultimate goal of politics is to improve the economy. imo the goal of politics is to develop the nation not just economically but socially as well. the economy is only a fraction (well i understand right now its a pretty large fraction) of the issues that politics has to deal with in addition to education, environment, social security payments etc.

 

[Nebuchanezzar]

$1000 for me!

fiscal conservatives can suck my balls

 

[melanieeeee.]

$1000 for me!

fiscal conservatives can suck my balls

you are an embarrassment to socialism.

 

[Nebuchanezzar]

you're an embarrassment to yo momma

 

[melanieeeee.]

u r n embarresment to society. go kill yourself.

 

[zstar]

Yeah, sure, in a time when it was possible we could slide into a recession SURELY its a great idea to encourage saving.

In addition, encouragement to save by word of mouth has been proven many times to be ineffective. Australian savings are negative on average, if I remember right. The economy needed stimulation. Rudd gave the economy some stimulation.

People complaining about the infrastructure can shut up - we still have another $11.3 billion left in the surplus which can still build a decent amount of infrastructure.

I'm tired of this argument, its going around in circles. I'd like to say that Captain Hero is a retard - any educated person understands that unemployment is unavoidable and only a fraction of them are the bludgers you talk of. Regardless, if this minority of bludgers were trying to work it could mean that other people would end up being unemployed anyway.

So what if there's 2000 jobs per center? Many if not most of them would require qualifications beyond those that are unemployed (ie. a university degree, lots of prior experience, and so on)

The government should be spending money to give cheap access to mature age training and education for those who aren't skilled enough to get these available jobs.

Stimulation my nuts.

Savings and Producing create an healthy economy not government interventionism, borrowing and consuming.

All the government can do is create more inflation.

 

[withoutaface]

First of all, I hope you get cancer and die a painful, slow death, you nasty little girl.

Secondly, you try having a mother with some rare ass type of cancer that has completely messed with her internal organs and consequently sleeping patterns and overall health, making it damn near impossible to work (which she does anyway cause we need the money), a father who lost his business partially due to said cancer and accompanying expenses and whatnot. So he is now technically her 'carer', and the money they get for that is nowhere near enough money to cover doctors and treatment and whatnot. THEN her father goes and has this massive stroke and probably should have died, but seeing as he was on his own and there was no one else to look after him, we had too. He's in a nursing home, but someone still needs to buy him clothes and toiletries and whatnot- how is a struggling family supposed to accomodate that?

Sometimes it has absolutely nothing to do with lazy and everything to do with some pretty shit circumstances.

Besides, aged pension barely covers anything.

I don't know about you guys, but I know a lot of pensioners/carers/families are appreciating this, especially around chistmas time. It means they might be able to get their kids presents whereas before they probably couldn't afford it.

I'm no fan of the Rudd government, but I'm not really seeing a problem with this. I'm presently only seeing the benefits. And the only ones whinging are the ones not getting anything, and the only reason they're not getting anything is because they probably don't NEED it.

More or less, stfu, kay? =)

Actually, colorectal cancer is the second leading cause of cancer related death in the Western World.

 

[withoutaface]

$1000 for me!

fiscal conservatives can suck my balls

It's $1000 for your parents, you illiterate scumbag.