Economy surging ahead

[IQS.RLOW]

Terms of trade are still higher than under Libs.
They just didn't waste the lot and fuck it up like Liebor

[Jovial Monk]

Actually, they did. $400Bn pissed up against the wall in terms of pork, election buying, middleclass welfare and unsustainable tax cuts.

Too many tax cuts. When the GFC hit companies made losses or had steep profit declines and that was reflected in a plunge in company tax revenue. In the past that didn’t matter too much, income tax receipts basically keep going but stupid Costello cut that much income tax receipts alone are not enough, company tax is now a major part of total tax revenue.

Company tax not going to recover soon either: carry forward of losses to offset profits will keep company tax revenue low.

Income tax receipts are going to have to be increased. Probably have to wait till after the 2013 election but I hope Swanny acts on that soon after.

[IQS.RLOW]

Terms of trade dipshit...terms of trade

Conveniently ignored eh?

[Jovial Monk]

Since you are incapable of debating economic matters I will leave it at that.

[IQS.RLOW]

Since you are incapable of debating economic matters I will leave it at that.

Convenient...not wanting to discuss the terms of trade eh?


So much more money coming in than before, so much more money being water going out and here's you, saying that the govt is doing a bang up job not wasting money

[Jovial Monk]

Terms of trade is not of prime importance in the immediate period after 2008. This contains a graph of terms of trade:

http://www.rba.gov.au/publications/smp/ ... utlook.pdf" onclick="window.open(this.href);return false;

You will see how they plunged in 2008, recovered to new highs but is again decreasing.

[IQS.RLOW]

They plunged in 2008 due to the GFC...you know, the great excuse of the Liebor party. They have returned, the GFC is over yet the spend of the left continues unabated on shit programs with no return.

No greater measure than money in vs money out...and this govt has failed miserably

[Jovial Monk]

The graph shows terms of trade declining at the same period we got the great GDP growth. You can look at a graph I trust?

You are just ridiculous when you crap on about spending, govt spending is lower now than under the Howard spendathon as proportion GDP. Try looking at facts, not some ridiculous fanboi fairyfloss of theory.

I have mentioned several times that Swan has been cutting waste and middleclass welfare to the tune of billions and billions of dollars of spending out of the Budget. That is how we will get a Budget surplus despite declining terms of trade.

[IQS.RLOW]

The graph shows terms of trade declining.

You are just ridiculous when you crap on about spending, govt spending is lower than under the Howard spendathon as proportion GDP. Try looking at facts, not some ridiculous fanboi fairyfloss of theory.

Declining doesn't mean they are not higher than ever before

[Jovial Monk]

They are at about the level they were at in 2007? You can read graphs? They were at a record high only for a short period of time.