bluelabel
14-03-2009, 07:35 AM
Before I start I for one don’t believe this 'GFC' crap that is bandied about the place. I call a spade a spade and it is a recession. Personally I feel we could even be headed for a depression but that’s another story.
What I want to ask in this thread is people’s opinion of how this 'GFC' is being handled by the government. I feel that Kev was too quick to open the wallet and flash the cash to the working families he so desperately got on side during his election campaign. I feel that this stimulus is a political stunt to buy votes at the next election because Kevin feels he will be up against Goliath Costello who as of last week started circling even closer. When the chips are down at election time, the line ' remember when I gave you that cash and helped working families out. I kept my promises' will come out in a last ditch hope to getting labour over the line.
The only thing this flash of cash has done is helped retailers and the overseas manufactures that supply their goods. And that is for the folks that didn’t save it, drop it on the mortgage or feed the pokies. The money was aimed at the wrong target. The retail sector or to be more exact, consumer spending was a big cause of this crisis in the first place, what with the trendy clothes, flat screen TV’s, ice machines in fridges, home cinemas and McMansions.
I feel Kev has gone about it the wrong way. How can you solve a debt problem with more debt? I don’t get it. I was always taught you don’t fight fire with fire...seems logical to me. In saying that how on earth do we fix the problem then. I for one would say, stay liquid; invest in income producing assets while keeping the books in the black. Invest in public infrastructure like roads, rail, ports and water. (A bloody big pipe from QLD to Vic would be nice; then again Lake Eyre is filling and should help rainfall in the south-eastern states.) Use the public purse in the public domain and fix education standards and health care and invest in tourism. Get folks from overseas to spend their cash here. I may not have even passed on the last tax break either, but that is a fine line between pumping up government coffers and keeping the squeaky wheel of the economy turning. :2twocents:
:bier:
blue
What I want to ask in this thread is people’s opinion of how this 'GFC' is being handled by the government. I feel that Kev was too quick to open the wallet and flash the cash to the working families he so desperately got on side during his election campaign. I feel that this stimulus is a political stunt to buy votes at the next election because Kevin feels he will be up against Goliath Costello who as of last week started circling even closer. When the chips are down at election time, the line ' remember when I gave you that cash and helped working families out. I kept my promises' will come out in a last ditch hope to getting labour over the line.
The only thing this flash of cash has done is helped retailers and the overseas manufactures that supply their goods. And that is for the folks that didn’t save it, drop it on the mortgage or feed the pokies. The money was aimed at the wrong target. The retail sector or to be more exact, consumer spending was a big cause of this crisis in the first place, what with the trendy clothes, flat screen TV’s, ice machines in fridges, home cinemas and McMansions.
I feel Kev has gone about it the wrong way. How can you solve a debt problem with more debt? I don’t get it. I was always taught you don’t fight fire with fire...seems logical to me. In saying that how on earth do we fix the problem then. I for one would say, stay liquid; invest in income producing assets while keeping the books in the black. Invest in public infrastructure like roads, rail, ports and water. (A bloody big pipe from QLD to Vic would be nice; then again Lake Eyre is filling and should help rainfall in the south-eastern states.) Use the public purse in the public domain and fix education standards and health care and invest in tourism. Get folks from overseas to spend their cash here. I may not have even passed on the last tax break either, but that is a fine line between pumping up government coffers and keeping the squeaky wheel of the economy turning. :2twocents:
:bier:
blue