Not laughing now (ODT)
Under the Coalition’s “responsible budget management”, net debt has increased from $161,253 million at 31 August 2013, a week before the election, to $424,164 million at the end of February this year.
Still stuck in slogan land, Coalition language is changing.
We have gone from a “targeted, modest and scalable” response to “targeted, measured and scalable” and now Frydenberg is calling for “quick, strong and co-ordinated action” from the G20 countries.
The self-satisfied smirks, the ridiculing of the idea of well-being, and the draconian persecution of the unemployed have disappeared.
After more than a decade of their bullshit, all of a sudden, “we are all in this together”.
Tag: LNP Economic Management
Australia’s economic growth improves, but hold the champagne. Economic headwinds? Not really. Economy stronger than the OECD, Europe, Canada and the UK? Errr … no. Strong jobs growth? Sorry, no. Alan Austin runs his ruler over the latest quarterly accounts.
via Australia’s economic growth improves, but hold the champagne – Michael West
When Politics gets in the way of rationality (ODT)
via Carbon pricing: it’s a proven way to reduce emissions but everyone’s too scared to mention it
What we don’t need is to waste hundreds of billions on obsolete weapons of mass destruction, billions on consultants and government advertising, and politicians who think attending sporting matches is more important than their day job.
We don’t need a surplus. We need someone who has a clue about how to invest in this country rather than their own political future.
via MYEFO will be interesting – » The Australian Independent Media Network
The Foreign Investment Review Board has already waved through the Healthscope acquisition and is presently deliberating on the Aveo deal. Yet the question must be asked; as Brookfield pays so little tax in Australia, what is the national interest in allowing this tax haven operator to buy billions of dollars buying key infrastructure when it merely siphons the profits offshore?
via House of Cards: is Brookfield the next Babcock & Brown? – Michael West
RELEASE of the second-quarter GDP figures showed the Australian economy facing its lowest annual growth since the global financial crisis, calls from RBA & general public for the Morrison Govt to engage some sort of stimulus program exp independentaustralia.net/politics/polit
1:47 PM · Sep 20, 2019Twitter Web AppIN A RECENT SURVEY conducted by the Australian Financial Review, every single economist who participated had the same message for the Morrison Government: the Reserve Bank should not have to rescue the economy on its own.
However, despite the mounting evidence of domestic economic slowdown and the growing risk of a potential global recession, the Morrison Government continues to reject calls for a stimulus. Instead, the Government insists that its tax cuts and “superior economic management” will kickstart the economy and that everything will be fine.
Despite the GFC and ongoing ominous signs of financial doom, economists are eager to return to “business as usual”.
Source: GFC and spiralling debt: Isn’t it time economists learnt from their mistakes?
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