All Topics / Opinionated! / Writing is on the wall – Labour will win
- propertypower wrote:I agree guys. I am concerned about the future of our economy.
And so you should be propertypower
But why now………why not in 1995?
1995…JOHN HOWARD (Leader of the Opposition)
"Wasn't it in 1986 that the Prime Minister(Keating) said that if we had a worse current account deficit—we would be headed towards becoming a banana republic? We have a foreign debt that has risen from $23 billion in 1983 to $180 billion (1995)."FOREIGN DEBT
1983….$23 Billion
1995….$180 Billion (Banana Republic)
2007….$544 BILLION …..under John Howard1995…JOHN HOWARD (Leader of the Opposition)
"Australia has amongst the highest real interest rates in the world."Today …….2007 Under John Howard (Interest Rates)
Australia 6.5%
United Kingdom 5.75%
Korea 5%
USA 4.75%
Canada 4.5%
European Monetary Union 4%
Sweden 3.75%
Switzerland 2.75%
Taiwan 2.88%
Japan 0.5%1995…JOHN HOWARD (Leader of the Opposition)
"We now have the current account deficit that is the worst in the OECD. It is worse even than Mexico."SO, AFTER 11 YEARS OF GREAT ECONOMICAL MANAGEMENT, HOW DO WE COMPARE TO MEXICO?
Well according to the CIA Website,(2006), NOT THAT GOOD……..
CURRENT ACCOUNT BALANCE
Australia $42 Billion…..Mexico 0.4 BillionINFLATION
Australia 3.8%………Mexico 3.4%UNEMPLOYMENT
Australia 4.9%……..Mexico 3.2%GDP REAL GROWTH
Australia 2.7%…….Mexico 4.80%INDUSTRIAL PRODUCTION – GROWTH RATE
Australia -3.5% (that right – minus)…….Mexico +3.6%EXPORTS
Australia $117 billion…….Mexico $248 BillionRESERVES OF FOREIGN EXCHANGE & GOLD
Australia $49 Billion………Mexico $85 BillionDEBT (2006)
Australia $585 Billion…………Mexico $178 Billion1995…..Speaker Minchin Sen N.H. (LP, SA, Opposition)
"No wonder the Economist said that Australia is an emerging economy which is the next Mexico and which combines a third world economy with a first world standard of living."WHAT!!!!!!!!!!!!!!!
IF ONLY WE COULD BE SO LUCKY!1995…..Speaker Costello Mr P.H. (HIGGINS, LP, Opposition)
"Australia today is staggering under the load of foreign debt. What concerns us is that we wake up a miscreant Prime Minister to the load he has inflicted upon the Australian economy and a country that is staggering under the load of foreign debt which threatens to break that country and impose on ordinary Australians some of the pressures that this government has allowed to build up.."I LIKE THIS ONE
YOU SEE, IN 1995 FOREIGN DEBT WAS "BAD" DEBT
TODAY OUR $544 BILLION DOLLARS OF FOREIGN DEBT IS "GOOD" DEBTTVs, DVDs, GMCs, BMWs, etc, etc, etc
kokjhoonwong wrote:OK I voted for Liberal but you will be shocked to know why I did it. So I am not telling.Very often that speculators are wrong especially a financial planner who I grilled the other day. When a guy like (R. Kiyosaki) who is worth so much and stand besides some of the best, I think we should at least listen.Being in this website means to share how we can help each other win. Any real Investors out there who knows what is the best plan to win with the change of govt. Would love to hear your plans and predictions.Now that you dropped yourself in it, tell us why you voted Liberal.
With high profile people such as Robert Kiyosaki, yes, they make us think, but it is up to us to challenge what they say and not just take it all as gospel. He claimed, in one of his books, that when the baby boomers started retiring their withdrawal of investments would drain the global financial system and cause a collapse. From what he said and my calculations this is roughly 2010 – 2015 (1945 + 65). I read the book some years ago and am a little foggy on the detail, but I'm pretty sure that was the gist of it. I'm not saying he is right or wrong, but let's see how it pans out in the not too distant future.
As a share market investor, one of the things I've learnt is not to make predictions. So you won't be getting any from me. My plans revolve mainly around the share market at this stage, and I continue to accumulate investments in whatever environment is created by the Government of the day.
Haz
So you reckon Mr Rudd is going to swing all those numbers the other way and bring them under control? By the way, no need to shout.
Hi Wezwaz. Not that interested to tell you why. I can tell you tell we will make more money in properties if Liberal is in power.
Reading j
Three terms of Labour government in New Zealand did not break the property cycle there…
vicgirl
Has anybody checked interest rates yet to see how far they've gone up under Labor?
http://www.news.com.au/business/story/0,23636,22860188-31037,00.html
Tut-tut. Bloody Labor! ;-PAt least he's trying:
http://www.news.com.au/business/story/0,23636,22859974-31037,00.htmlA rare example of when I dislike being proved correct…..
Record trade deficit
4 December 2007Australia's trade deficit blew out from $1.92 billion in September to $2.98 billion in October, the worst result in the 36 years that records have been kept. Total exports fell by 3.6 per cent with an unexpected fall in mining exports of 11.6 per cent and a drop of 4.5 per cent in manufactured exports, while imports were up by 2.3 per cent. Analysts say that the resources sector is being hampered by inadequate infrastructure as evidenced by delays of up to 15 days at Newcastle's coal port. The Australian dollar fell by 50 basis points in the hour after the trade data was released.
The Financial Review
Good news Yossarian. Finally, cheaper house price on the way. I suggest to you all save up to pick up some bargains.
What!
The worst result in 36 years!!!!!
How can this be?
I thought "Australian families have never been better off"?
Howard/Costello asleep at the wheel?
Even Stephen Koukoulas, Global Strategist at TD Securities in London, agrres…………….
"only an ostrich with its head in the sand would disagree that it was a "big mistake" to pump prime the economy with fiscal largesse when for the last four years the Reserve Bank was trying to dampen the most severe domestic inflation pressures seen in over 15 years. This is economic mismanagement 101.
Net foreign debt is now $570 billion (55% of GDP), versus $190 billion (38% of GDP) in 1996.
Households now allocate 12% of their take home pay on the interest component of debt servicing. This is more than the combined spending of the household sector on health and education! Household debt servicing was 7.5% in 1996 and 'only' 9% in 1990 when variable mortgage interest rates were 17%.
The current account deficit has been above 5% of GDP for five years. This is without precedent and leaves Australia vulnerable to the whims of global capital markets.
The level of government spending as a share of GDP is now at a level that would make Gough Whitlam and Frank Crean blush. It has never been higher. So too with the level of government spending as a share of GDP. Not only did Costello have his hand in your pocket, he was also spending your money on your behalf.
But wait there's more.
Australia's interest rates are now among the highest in the industrialised world and are higher than in many emerging market countries. A decade ago, Australian interest rates were below those in the U.S.. for example, now there are more than 2% higher are going to get even wider.
Economic management is about progress, efficiency, equity, fairness and simplicity with a vision that looks beyond the next election.
Costello was a big spender and big taxer. He added to inflation pressures when the Reserve Bank was pleading for fiscal conservatism. He presided over a labour market skills shortage and through WorkChoices, discouraged people from supplying their services to help alleviate the crisis.
Given this record, it is no surprise that Peter Costello has now squibbed the hard work by skulking to the back bench. "
Cheers
OK haz, so you reckon the Liberals are responsible for all this? Let's see Rudd work his magic and turn it all around. This'll be good to watch. I'm gonna take a punt and say things will continue in the same direction.
You must be logged in to reply to this topic. If you don't have an account, you can register here.