Economy surging ahead

[Jovial Monk]

Trade deficits do get reported Mantra, honest.

It is a time of change—suddenly, instead of maxing out the credit card people are paying the credit card off, speeding up repayment of the mortgage and putting money in the bank. That is, or has, reduced consumption, reduced retail shopping especially.

When you have Tone doing daily stunts to announce the sky will fall in on 1/7, when you see all the strife and turmoil in Europe are you really surprised people are saving more? But that phase seems to be over, people beginning to spend again.

There is no carbon tax. We have a cap and trade system with fixed price permits for a couple of years. Eventually unneeded permits to pollute will be auctioned, traded. Some companies will need to pay for offsets elsewhere. Aim is to start reducing the amount of GHG emissions worldwide.

[Jovial Monk]

I think Monk has been attending too many of those online "wealth-Creation" business seminars, of which have made him an expert in all things economics.

The carbon price and the tripling of the tax free threshold will see more spending (those on low incomes have little discretionary income as a rule) and the carbon price not causing the sky to fall down will also open wallets a bit more.

And look, he even brought his crystal ball.

How fascinating.

Put down the crackpipe and actually read what I wrote. This is stuff discussed in papers like the Financial Review. It is commonsense.

In the meantime our economy is doing really well and we should all be glad about that.

[mellie]

On placing a price on Carbon...

[youtube]https://www.youtube.com/watch?v=KwuIXYtCNb4[/youtube]

https://www.youtube.com/watch?v=KwuIXYtCNb4


Note: I am unable to post youtube clips for some strange reason even when the correct code is used.

[mellie]

Would you trust this man with a head like a down syndrome baby with your money?

[Jovial Monk]

Would you trust this man with a head like a down syndrome baby with your money?

Wayne Swan has handled the GFc brilliantly, have carved $Billions of middleclass welfare out of the Budget and we see here an economy zooming along. Children like IQ make comments about Wayne’s appearance, how childish, how shallow!

His tripling of the tax free threshold is inspired: Wayne shepherded that idea from the start of the Multiparty Committe on Climate Change. It will allow people to return to the workforce, will reduce churn in the Tax Office and will help the low paid. Brilliant idea, well implemented even through the tortuous negotiations a hung Parliament mandates.

[mellie]

You are a liar and a hypocrite Monk.



And not a very good liar I will just add.



Re-the childish comments, given you make so many of your own.

Irony noted.

[mellie]

As for the surging economy, it wouldn't be due to those 'wicked' miners propping up our economy?

So stop giving credit to Wayne Swan where it's not due.

As for business confidence and spending... wouldn't be because they know Labors on the way out?


For a more balanced perspective....

The bureau says the strong result was driven by household spending, business investment and construction related to the mining sector.

But exports and housing investment fell in the quarter…

Western Australia’s economy grew by 7.8 per cent in the quarter, far outpacing the rest of the nation.

The economies of Victoria, South Australia, the Northern Territory and the ACT also expanded in the period, while there was a slowdown in New South Wales, Queensland and Tasmania.

http://blogs.news.com.au/heraldsun/andr ... growth_up/

[Jovial Monk]

Labor will be in government till late 2013 so no I don’t think spending is up because people believe Labor is on the way out.

You do realise mining is more curse than blessing to a country? As to propping up the economy—contribution of mining to GDP is but 5% or so. It is actually declining a bit ATM as China slows down.

[Jovial Monk]

Heh:

Possum Comitatus ‏@Pollytics

If your growing at 4.3% with unemployment at %5 and inflation at 1.6% - what's a better time to introduce carbon pricing?

[mellie]

Labor will be in government till late 2013 so no I don’t think spending is up because people believe Labor is on the way out.

You do realise mining is more curse than blessing to a country? As to propping up the economy—contribution of mining to GDP is but 5% or so. It is actually declining a bit ATM as China slows down.

Thats only 18 months away, (less if one of their grubby little independents cracks it) your point being?



The mining industry is what's propping up our economy, you twit.

Furthermore, why wont they publish the break-down of the actual growth figures, state by state, preferring to withhold the states who have actually declined and performed badly...QLD, NSW, TAS careful not to lend any credit to those who form the bulk of the growth and mining industry..ie WA?

Monk, if you are going to tell a half truth, you might as well tell the more convincing part.