Libs release Infrastructure Policy

[lisa jones]

Or you could remain an uneducated bigot like Punk.

Umm the topic for tonight was here ..

http://www.ozpolitic.com/polanimal/view ... a&start=50

It's prob best you have a bit of a read to see why.

Night Monk

[Jovial Monk]

IQ got pissed as a parrot? Only human thing I have known him do. But, really, who cares?

[Leftwinger]

I never use multiple identities. Besides, the forum doesn't need people answering their own comments like Dorothy Dix.

JM is spot on when he calls deficits and surpluses flows. That's exactly what they are - a $10 billion surplus or deficit is a snapshot of a flow at a particular moment in time. We're all conditioned to think of money as being a physical thing but it isn't - it's essentially an abstract concept, like points in a game of ten-pin bowling. Does the owner of the bowling alley shit himself when a busload of crackerjack (yes, I know they use that expression for lawn bowls but stick with me here) bowlers turns up? Can the bowling alley ever "run out of points"?

The idea of a fiat currency system can be a tricky concept for people to grasp but it's essentially what our country runs. The days of the Aussie dollar being merely a representation of a certain amount of pure gold (the gold standard) are long gone in history. Our currency now exists in it's own right, variously as bits of paper(plastic) and metal but mostly as blips on computer screens and numbers written in ledgers. It is intrinsically worthless, being given it's value by the power of the sovereign to impose a tax obligation. Hence it is called a fiat currency.

Fiat money is money that has value only because of government regulation or law. The term derives from the Latin fiat, meaning "let it be done", as such money is established by government decree. Where fiat money is used as currency, the term fiat currency is used.

Operationally, the question of "can the federal government really afford this?" is a question that has no sensible meaning and is akin to asking "can the bowling alley run out of points?" However, what may be operationally possible is not the issue here - what is politically possible is all that really counts. For me, I'm not really interested in how much the federal government spent but rather, how they spent it - did the spending advance the public purpose?

This isn't to suggest that just because they can spend to infinity that they should do that - spending that goes beyond the capacity of the economy to absorb it will be inflationary (think Zimbabwe). They still need to be cautious. But I think it's important for us to understand the true nature of the thing we choose to call "money" and that our sovereign government is the source of that money. If they never net spent it - that is, never ran a deficit - ultimately, it would become impossible for us to hold it.

[Jovial Monk]

M. Farnsworth has posted the text of Gillard’s speech to the Sydney Institute on his blog:

http://australianpolitics.com/2011/04/1 ... #more-4164

Doesn’t sound wasteful of money. Note the 750,000 jobs created while the rest of the world is suffering record unemployment.

[Monkey Magic]

I never use multiple identities. Besides, the forum doesn't need people answering their own comments like Dorothy Dix.

Epic OMG... you like bum this forum yeah? I get it. Like a place to cotch down even if it's like clappin' an' all. An' no socks eh? Sweet. Haveta get da big man to like unass Sappho an den I'll be like nim nim nim with da safa crowd yeah?

Hugs at Leftwing.

[Viking King.]

The Libs did nothing in the past to fix things up, why should anyone believe them now?
Already O'Ferral has told us he will dump all projects outside the 75k radius of Sydney.

[IQS.RLOW]

The Libs did nothing in the past to fix things up, why should anyone believe them now?
Already O'Ferral has told us he will dump all projects outside the 75k radius of Sydney.

Good, it was all pork barrelling because 16 years of shit from liebor across NSW has dictated where the funds have to be spent on communities rather than lining the pockets of liebor sychophants.

It's about time NSW was brought up to speed on what makes a good economy rather than corruption

[Viking King.]

I am sorry Mr Jerkoff Alot, but you are on my "No likey list"
When others can advise that you have something real to say I might let you back in,
until then, SSSSHhhhhhh!

[Jovial Monk]

No danger of letting that cretin back in. It did get rather drunk last night, it had a shandy with light beer and 60% lemonade.

[IQS.RLOW]

I am sorry Mr Jerkoff Alot, but you are on my "No likey list"
When others can advise that you have something real to say I might let you back in,
until then, SSSSHhhhhhh!

I accept your surrender and understand your cowering in the corner in a puddle of your own piss. Hope it's nice and warm for you