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From: Clocky on 12 Aug 2010 12:29

"Noddy" <me(a)home.com> wrote in message
news:4c63c4bc$0$56727$c30e37c6(a)exi-reader.telstra.net...
>
> "Clocky" <notgonn(a)happen.com> wrote in message
> news:4c63907f$0$11089$c3e8da3(a)news.astraweb.com...
>
>> Do the letters GFC mean anything to you?
>
> Nope.
>
> The GFC, such as it was, was little more than an *American* financial
> crisis that had a slight impact on *some* other countries. The effect it
> had here was minimal at best.
>

It had a massive impact on Europe, whole countries have gone bust or close
to it. Portugal, Spain, Greece, UK, Italy and others.
The unemployment rate in Spain has doubled with an overall unemployment rate
of 20% and amongst young workers 40%. That's not sustainable and other
countries are in danger of the same.

>> Wasn't it better to spend money, save jobs and prevent going into
>> recession whilst the economies of countries like the UK and the US and
>> rest of Europe were going down the tube?
>
> There's been some slowdown in other parts of the world, particularly in
> America, but saying that the rest of Europe is in trouble is stretching
> things a tad :)
>

Hardly.

> Oh, and England's ecconomy has been fucked since the end of WWII.
>

And now it's even worse, that's the point.

>> There were fuckups along the way, sure, but things could have turned out
>> a lot worse too.
>
> I'm afraid the worst is yet to come for us here in sunny old Oz.
>
> Had the government done nothing we would have weathered the storm and come
> out the other side without a hiccup.

LOL Noddy the economist has spoken... mate, you're clearly out of touch on
this one.


From: Jason James on 12 Aug 2010 16:01

"Dr Sir John Howard, AC, WSCMoF"
<""Trollene.has.had.more.kook.outs.than.ive.had.hot.dinners\"@kangarooistan.com.au
.."> wrote in message news:4c63c3a3$0$11125$c3e8da3(a)news.astraweb.com...
> Jason James wrote:
>> "Dr Sir John Howard, AC, WSCMoF"
>> <Trollene.has.had.more.kook.outs.than.ive.had.hot.dinners(a)kangarooistan.com.au>
>> wrote:
>>> Cocky wrote:
>>>> "PaulpULVITZKA"<pulvitzka(a)gmail.com> wrote in message
>>>> news:f6b26270-3de9-4fd2-990a-ca2dd886f0bd(a)k1g2000prl.googlegroups.com...
>>>>> "Labor is borrowing $100 million a day to pay back Government debt"
>>>>
>>>> Do you think the Liberals would have let Australia slip into a full
>>>> recession by not stimulating the economy?
>>>>
>>>>> Dudd arrived into office with a surplus, all gone, and
>>>>> more,.......LOTS MORE.....
>>>>
>>>> Do the letters GFC mean anything to you?
>>>
>>> They don't to the rest of the world.
>>>
>>>> Wasn't it better to spend money,
>>>
>>> Spend or waste it?
>>>
>>>> save jobs and prevent going into recession whilst the economies of
>>>> countries
>>>> like the UK and the US and rest of Europe were going down the tube?
>>>> There were fuckups along the way, sure, but things could have turned
>>>> out
>>>> a
>>>> lot worse too.
>>>
>>> So why is unemployment going up again?
>>
>> What exactly, did the Labour party do wrong during the "world recession"?
>
> What world recession?



Nobel prize winning economist's opinion of Labour's stimulous package:

http://www.businessspectator.com.au/bs.nsf/Article/Labor-saved-Australia-Nobel-economist-833N4?OpenDocument


--------------------------------------------------------------------------------

Labor saved Australia: Nobel economist
Published 11:40 AM, 6 Aug 2010


--------------------------------------------------------------------------------

QUICK SUMMARY | FULL STORY

AAP

The federal government's economic credentials have received a timely boost
from Nobel prize-winning economist Joseph Stiglitz, who suggested Labor may
be best placed to take the country forward.

Professor Stiglitz, a former World Bank chief economist and economic
adviser to the US government, said federal Labor did a fantastic job of
saving Australia from the global economic crisis.

At the same time Prof Stiglitz criticised right-wing politicians for being
the "architects" of the downturn.

"One of the reasons why the debate about ... Australia's stimulus ... is
so important is not because we're historians and we're trying to grade but
because we're trying to make a judgement about going forward who is likely
to do a better job," Prof Stgilitz told AAP in Sydney on Friday.

"What are the economic theories, advisers they are likely to draw upon?
Labor's done a good job."

Prof Stiglitz said economic advisers who had been praised by "the other
side" of politics were the ones who had designed America's "economic mess".

"To praise the people who were the architects of the global financial
crisis suggests that your economic ideas might lead this country into
difficulty," he added.

"Whereas the others (Labor) actually did a fantastic job of saving your
country from problems."

Prof Stiglitz said he supported the objectives of the government's mining
tax but was not surprised resource firms objected.

"The clear objective is one that I supported when I was in the Clinton
administration and our attempt to do a very similar kind of thing," he
added.

"Having watched what happened in the United States I'm not surprised at
all what's happened here; the mining companies do not want to pay their fair
share."

But he said he was surprised at the resonance the resource firms'
arguments have had.




From: Noddy on 12 Aug 2010 19:47

"Clocky" <notgonn(a)happen.com> wrote in message
news:4c642189$0$11095$c3e8da3(a)news.astraweb.com...

> It had a massive impact on Europe, whole countries have gone bust or close
> to it. Portugal, Spain, Greece, UK, Italy and others.

All of those countries, with the exception of the UK, have economies that
are heavily based on tourism, and while a slowdown in the tourism trade has
hurt them considerably their own incompitence has played a significant role
int heir troubles. That's particularly true in the case of Greece.

England is the odd one out in that their economy has been fucked for
*decades*.

>> There's been some slowdown in other parts of the world, particularly in
>> America, but saying that the rest of Europe is in trouble is stretching
>> things a tad :)
>>
>
> Hardly.

Not really.

The strong economies of Europe are *still* strong. The ones struggling now
are those who have *always* struggled, but now find the going tougher than
usual. It's a pattern that is often repeated. They survivie on the fringe of
booms, and crash when the boom busts.

> And now it's even worse, that's the point.

It's *always* been bad. Our economy is okay compared to most, but we've had
better days as well. That doesn't mean we're going down the gurgler, just
that we've seen better days.

The point is that the Global Financial Crisis was being hailed by all and
sundry as the worst economic depression of all time and it was *nothing*
like that at all. The recession of the late 80's was significantly worse for
most countries.

> LOL Noddy the economist has spoken... mate, you're clearly out of touch on
> this one.

Just because my opinion differs from yours doesn't mean I'm wrong and you're
right, or visa versa :)

--
Regards,
Noddy.


From: Clocky on 13 Aug 2010 00:07
Noddy wrote:
> "Clocky" <notgonn(a)happen.com> wrote in message
> news:4c642189$0$11095$c3e8da3(a)news.astraweb.com...
>
>> It had a massive impact on Europe, whole countries have gone bust or
>> close to it. Portugal, Spain, Greece, UK, Italy and others.
>
> All of those countries, with the exception of the UK, have economies
> that are heavily based on tourism, and while a slowdown in the
> tourism trade has hurt them considerably their own incompitence has
> played a significant role int heir troubles. That's particularly true
> in the case of Greece.
> England is the odd one out in that their economy has been fucked for
> *decades*.
>
>>> There's been some slowdown in other parts of the world,
>>> particularly in America, but saying that the rest of Europe is in
>>> trouble is stretching things a tad :)
>>>
>>
>> Hardly.
>
> Not really.
>
> The strong economies of Europe are *still* strong. The ones
> struggling now are those who have *always* struggled, but now find
> the going tougher than usual. It's a pattern that is often repeated.
> They survivie on the fringe of booms, and crash when the boom busts.
>
>> And now it's even worse, that's the point.
>
> It's *always* been bad. Our economy is okay compared to most, but
> we've had better days as well. That doesn't mean we're going down the
> gurgler, just that we've seen better days.
>
> The point is that the Global Financial Crisis was being hailed by all
> and sundry as the worst economic depression of all time and it was
> *nothing* like that at all. The recession of the late 80's was
> significantly worse for most countries.
>
>> LOL Noddy the economist has spoken... mate, you're clearly out of
>> touch on this one.
>
> Just because my opinion differs from yours doesn't mean I'm wrong and
> you're right, or visa versa :)

Economists and those studied in these things don't seem to agree with you
much either ;-)


From: Jason James on 13 Aug 2010 02:34

"Noddy" <me(a)home.com> wrote in message
news:4c648fed$0$56728$c30e37c6(a)exi-reader.telstra.net...
>
> I was having a conversation with a girlfiend of the wife's a few weeks ago
> about the affordability of housing in Victoria. Her opinion was that it's
> out of control and the dream of owning your own home is one that is
> rapidly becoming an unrealistic one for most people, wheras my opinion was
> (and still is) that there is *plenty* of affordable housing out there but
> just not in the areas where everyone *wants* to live.
>
> Like many, she wants the 5 bedroom McMansion in Williamstown with the
> waterfront views, tree lined streets, driveways full of Benz's and BMW's
> and nearby wanky cafe area but doesn't have the 3 million squid to splurge
> on it. What she *can* have is a three bedroom brick vaneer in Laverton for
> under 300 grand, but then it isn't anywhere near as desirable as
> Williamstown.

Gee,..300 large! Go west young man,.. to Walgett- NSW,..housing blocks for
$4K,..bring a Nulla nulla tho :-)

Jason


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