WA joins Qld in recession

[IQS.RLOW]

The only loans we are paying are the massive ones by the ALP for there wasteful bullshit schemes.

Costello left a $20bn surplus, including a structural surplus. All gone to shit under the lefty fuckwads

[Rorschach]

We will have austerity and high unemployment.

Under Howard Libs fed a boom—we are paying the loans for that now.

Under Abbott the Libs would starve the private sector with austerity.

After a couple of years of Abbott PM people would be thinking wistfully of low unemployment, interest and inflation. Forget 3xAAA.

Not a single rightwhinger here can refute the scenario I painted, a weary, dire scenario that is playing itself out in Greece, Spain, Ireland etc. We do not need to join them, so far we have not joined them, Abbott PM would soon change all that.

Well as a Conservative left winger... I'm telling you your politically biased future scenarios are not factual just self-delusional...

[Jovial_Monk]

No, govt debt is pretty minor, not a problem. Howard govt left a huge structural deficit. Pretty dumb answer really, IQ. The answer of a numpty.

The bigger debt is the private sector debt, the hangover from the credit fuelled boom under Howard & Costello. With modest deficits the private sector can deleverage. That is why any attempt at a surplus will fail, will be austerity, cause high unemployment and business bankruptcies and so cause recession.

The time for saving was 2001-7, but all the boom revenue got pissed against the wall as tax cuts, pork, putting asset millionaires on the Age Pension and all that reckless Howard spending. Now is the time for deficits.

[Neferti]

The only loans we are paying are the massive ones by the ALP for there wasteful bullshit schemes.

Costello left a $20bn surplus, including a structural surplus. All gone to shit under the lefty fuckwads

Hahahaha. Did Monk mention something about Howard? (Monk is on my FOE list so ignored). It won't hurt people at all to have to tighten their belts. Those who will survive will be those who can manage their own finances and NOT rely on Government handouts. As someone "important" said once "Life wasn't meant to be easy".

[Jovial_Monk]

As a conservative right whinger you are a numpty, roach.

My scenario is soundly based and none of you idiots can refute it!

Welcome to high unemployment and stagnation but you cvnts drag all my family into that as well! Numpties and complete fucking idiots!

[Jovial_Monk]

Neferti gets it wrong, but is closer than IQ & roach. Her super returns will likely suck—my super is nearly all in cash by now, ride out the storm and misery the Libs cause then pick up some nice bargains once recovery begins or invest once the sensible Gillard govt is returned.

[Neferti]

Oh, and we won't know just how much DEBT Gillard (and Rudd) have left us in until Abbott can get his hands on the books! The left are such liars so it is more than likely to be double what they publish! Our Grandchildren's Grandchildren will be paying for it.

I doubt that I will be around in another 30 years but it will be most interesting for those that are when the Secret Cabinet Papers of the Gillard Government are released for public scrutiny!

[Jovial_Monk]

Oh don’t be stupid, Neferti! All those figures are in the Budget and various reports!

[mantra]

I see a thread over at OzPol about letting Gillard have another 3 years to REALLY wreck Australia.

Tony Abbott is not John Howard I must admit and he will have a difficult job getting Australia back on an even keel .... we will all probably have to tighten our belts but that won't hurt. I've always lived within my means and if my electricity bill is $500 a quarter, so what?

What you or anybody else can't do at this time is KNOW how Tony and his team will work out. Whatever, it will be better than what we currently have under Gillard!

This is LIFE. Governments in/Governments out. So far we don't have a 4 year term for Federal Government,like we do for State/Territory Governments. Three years flies by ... haven't you noticed?

Before Labor even got into government - everyone was badmouthing Gillard because she was a plain woman. We would hear - look at her backside - look at her shocking dress sense - her voice is disgusting, she's not married etc. She didn't really get the chance to prove herself with all the petty and denigrating obstacles put in her path. She started off with a handicap and was never destined to become popular.

Some RW commentators are even saying that it will be impossible for Abbott to fulfill any of his promises because of the decrease in mining exports and so many companies crumbling at the moment, so when he gets into power - with his voice, his continual backflips and his worn out old budgie smugglers - he will know what it's like to be in the same position as Gillard. Maybe then he'll regret his vilification of her, but my bet is he will get twice as much back.

Lying and flaming mantra,,, should I report you to the mods or admn?

What for this time - telling the truth? Don't just hang around here so you can abuse the members. Say something political if you're capable of it.

[Jovial_Monk]

Re the handouts—our welfare is the best targeted welfare around—means tested, including means testing introduced by the Gillard govt. So there is not a lot of welfare to wind back, save that introduced by Howard and not yet wound back—super tax lurks, asset millionaires on part or full Age Pension, things like that.