Access economics says recession is over

Jovial Monk · Post by **Jovial Monk** » Fri Jul 31, 2009 10:50 am

even that hideous fucking bride-of-Jabba-the-Hutt, Julie Novak

Don't hold back, tell us what you really think of her

Got a link to bride of Jabba?

Leftofcentresalterego · Post by **Leftofcentresalterego** » Fri Jul 31, 2009 5:50 pm

My God she is vomitaceous - she would make a vibrator go limp ( I feel I can say that here after what Auzgurl posted

)

No, I don't have a link to that dour-looking bull bulldyke. She is an economist for the far right wing think tank, the centre for independent studies. I participated in an online debate the other nite that followed SBS "insight" programme on which her(it?) and professor Bill Mitchell (whose veiw of the modern monetary system I am inclined to think is probably correct - he is a strong advocate of policies to return us to full employment) were guests.

A small businesswoman extolled the virtues of the stimulus, saying that she was a Fib voter before but now that she was able to employ several hundred percent more staff as a direct result and had more work than they could handle, she would be voting Kevvy all the way

Julie/Jabba admitted that the stimulus had prevented the situation from deteriorating further but when pressed she still said that she thought it should never have been implemented. This was after a number of audience members said that they were only able to pay rent/mortgage and put food on the table as a result of the stimulus!! I mean, what a fucking dirtbag, to imply to these people that they and their families should have been let go down the gurgler.

Anyway, after the show finished on tv and the online debate began, the moderator said that Ms Novak would be unable to participate in the debate/Q&A due to "technical difficulties". Hah!! I bet I know what they were! I'll bet it's technically difficult to hang around in a tv studio when you have a microphone shoved down your throat and a camera shoved up your arse because you told people sitting beside you that you thought that they and their families should ahve been sacrificed according to your own worldveiw.

Jovial Monk · Post by **Jovial Monk** » Sun Aug 02, 2009 1:17 pm

hehehehehehe

Jovial Monk · Post by **Jovial Monk** » Tue Aug 04, 2009 11:20 am

Hmmm aust stockmarket on a high. Also heard on ABC radio that even the Brit finance industry is back to profitability.

Part of managing the recovery HAS to be ways to ensure the idiotic neolib thing doesn't start again. Like, WTF did Telstra pay the arsehole Sol $30m when he left? Reward him for driving the Telstra shareprice down by 1/3? Does he know what that has done to small investors, to pension funds? All Sol should have gotten was Celetinas size nine boot up his arse!

One way to reduce the idiotically high CEO fees is to empower shareholders the finally approve/disapprove salary packages and to prevent the details of these salary packages being publicised: the CEO cohort was using them as pattern bargaining, "he got $xm, so I need $x+2m if you want to employ my (usually dubious) talent. Building in a long term performance reward would be good: if Mr X increases the share price or profit consistently over 5 or 10 years then he is entitled to a {non-disclosed} bonus. Then the guy would have EARNED the fucking bonus, unlike Sol.

Jovial Monk · Post by **Jovial Monk** » Wed Aug 05, 2009 10:24 am

Retail sales on a high. Looking good.

Jovial Monk · Post by **Jovial Monk** » Wed Aug 05, 2009 2:32 pm

Increase in exports, static imports means trade deficit narrows, boosts this quarter into positive growth.

http://business.smh.com.au/business/tra ... -e9ax.html

Still looking good!

Leftofcentresalterego · Post by **Leftofcentresalterego** » Thu Aug 06, 2009 8:41 pm

Yep. At this point in time, Labor will be invincible at the election. They are seizing the fibs economic management credentials (which they largely gained through luck).

The budget would still have been in deficit under the fibs - courtesy of the automatic stabilizers - but unemployment would have risen higher without the additional stimulus measures.

Jovial Monk · Post by **Jovial Monk** » Wed Sep 02, 2009 12:37 pm

Wow oh fucking wow!

June quarter GDP UP .6%!!!!

This is despite a drop in export revenue (due lower coal, iron ore prices!

Rudd, Swan, Gillard, Tanner doing a brilliant job!

Economy grows more than expected

By Online business reporter Michael Janda

Posted 56 minutes ago
Updated 16 minutes ago
Fifty dollar notes

The economy grew more than expected in the June quarter (ABC: file photo)

Australia has recorded 0.6 per cent economic growth for the three months to June, ahead of economist forecasts of a 0.2 per cent rise.

National gross domestic product also increased 0.6 per cent for the full year to June.

"The result was three times what the market expected," Citi Group's senior economist Joshua Williamson told ABC News Online.

RBC Capital Markets senior economist Su-Lin Ong says the positive figures were largely due to the continued resilience of Australian consumers and surprisingly strong business investment.

"We got growth in the quarter underpinned by private consumption, quite strong business investment, a little bit of public spending as well, and that more than offset a bit of a drag from net exports," she said.

http://www.abc.net.au/news/stories/2009 ... 674233.htm

Economy up 0.6%… but with exports down… then it could only be due to… oh my God!….. it couldn’t be!…. can all the pundits have been wrong?…. the Stimulus Package??? (from PB, perfect quote.)

So Froges, still think govts don't create jobs?

Good thing is, business investment up, that will underpin future growth.

Leftofcentresalterego · Post by **Leftofcentresalterego** » Wed Sep 02, 2009 7:58 pm

Notice that the obviously right-wing economist in the qoute cannot quite bring herself to admit that consumer confidence and now renewed business investment have been underpinned by a "little bit of public spending". While the deficit is certainly not the biggest in our history - despite some recent wanky claims to the contrary, made by using ABSOLUTE dollar figures rather than relative to GDP: well duh, of course it's bigger in absolute dollar terms because the Australian economy is a fuck of a lot bigger than it was in say 1970 - it has been significant, swiftly implemented and the cash splashes were undeniably well targetted. Retail is after all, the biggest employer in the economy. Put it together with related sectors of wholesale and transport, distribution and storage and you are getting close to a quater of all the jobs in the economy. There is not a shadow of doubt in my mind that the stimulus has prevented what should have been a decimation of jobs in these sectors.

On the apparent revival of business investment, I pointed out to Micheal Sutchbury (economics editior of The Australian) that for over six months, he and his ilk have been yelling out that stimulus spending necessarily crowds out private investment - and then just the other day he himself prints an article purporting to show business investment is going positive with some strength.

He has since stopped printing my comments. Sour grapes

skippy · Post by **skippy** » Thu Sep 03, 2009 10:59 am

I heard the head economists from both the Comm bank and Westpac on tele last night saying that the MAIN REASON Australia's economy is the strongest in the Western world is due to Rudds economic stimulus packages.

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