Labors fault

[Redneck]

sadly the ltards never own their own do they??.

they were left a massive surplus and left behind a massive debt... with not a thing to show for it.,.not a bloody thing..

never once have they put their hand up and said.... yep that was OUR DEBT..

they still blame the GFC.. which never reached us....only in kruddys mind...

lets all pretend those 6 years never happened....hilarious... even 50.000 boat people are still costing us..


but lets pretend it never happened..

lets pretend it never happened..

You retards seem good at that!

GFC never happened!

[Rorschach]

Actually it was more a Northern hemisphere thing... didn't you know?

Now just how many promised surpluses did Wayne manage to produce after Labor spent the one left to them?

[LEFTWINGER supreme]

Hows Joe's surplus coming along , where is Joe ?

[cods]

sadly the ltards never own their own do they??.

they were left a massive surplus and left behind a massive debt... with not a thing to show for it.,.not a bloody thing..

never once have they put their hand up and said.... yep that was OUR DEBT..

they still blame the GFC.. which never reached us....only in kruddys mind...

lets all pretend those 6 years never happened....hilarious... even 50.000 boat people are still costing us..


but lets pretend it never happened..

lets pretend it never happened..

You retards seem good at that!

GFC never happened!

geeees your thick..

I never said IT DIDNT HAPPEN..

it just never happened in OZ>.. our mining industry was triple what Howard had..... but you guys dont want to know that do you..

yes it was triple the income that Howard had...

and then you destroyed the mining industry....

why did you do that ltards????? WHY.???

...of course if another GFC hits the world banks..we will be right in the thick of it.. without a surplus..

[cods]

Hows Joe's surplus coming along , where is Joe ?

its probably in the same too hard baskets as swan/gillards... no ifs or buts .... surplusessssssssss......

you guys keep on shooting yourselves in the foot you do it all the time..

[Rorschach]

Joe's surplus?
Oh Treasurer Hockey.... yes well never did like Joe as Treasurer, nice guy a lot like Kim and he did save Kevin once, more's the pity.
But Joe would have had a surplus if he was allowed to do what he wanted to do... not saying he was right and it wasn't going to be painful, but there you have it.

[Redneck]

and then you destroyed the mining industry....

why did you do that ltards????? WHY.???

Err China ceased buying is what caused the mining industry downturn

But dont let the truth get in the way of things

...of course if another GFC hits the world banks..we will be right in the thick of it.. without a surplus..

But we wont have to worry as it didnt really affect Australia apparently last time so it will be the same again most likely!

Idiot!

[Neferti]

What the ABS said about the GFC and its impact on Australia. FYI.

http://www.abs.gov.au/AUSSTATS/abs@.nsf ... E2%80%9310

The effect of the crisis on Australia has been considerably less than in many other countries. The Australian economy has recorded markedly better growth outcomes than most other developed economies, many of which have experienced severe recessions and rises in unemployment. The Australian financial system has been markedly more resilient. Notably, Australian banks have continued to be profitable and have not required any capital injections from the Government.

That said, the local economy and financial markets have not been immune. Growth in the economy slowed to around half a per cent and the unemployment rate has risen by nearly two percentage points to around 5¾ per cent by November 2009.

The most obvious impact of the financial crisis on most Australian households was the large decline in equity prices, which reduced the wealth of Australian households by nearly 10 per cent by March 2009. However, since the trough in equity markets in March 2009, the local market had recovered half of its decline by the end of November 2009.

The Australian dollar also depreciated rapidly and sizeably as the crisis intensified, declining by over 30 per cent from its July 2008 peak. Around the time of the Lehman bankruptcy, conditions in the foreign exchange market were particularly illiquid, prompting the Reserve Bank of Australia (RBA) to intervene in the market to enhance liquidity. Since March 2009, as fears abated, the Australian dollar largely recovered, reflecting the relative strength of the Australian economy.

The credit and money markets in Australia have also proven to be more resilient than in many other countries, necessitating considerably less intervention by the RBA than occurred in many other countries. In large part this reflected the health of the Australian banking system. The Australian banks had almost no holdings of the “toxic” securities that severely affected other global banks. The health of the Australian banking system facilitated the effectiveness of the monetary and fiscal response, particularly by allowing much of the large easing in monetary policy to be passed through to interest rates on loans to households and businesses, in stark contrast to the outcome in other developed economies.

When did Krudd start sending $900+ to EVERYBODY (including those retired and living overseas)?

[Rorschach]

And to dead people Nef.

[IQS.RLOW]

For the clueless lefty numpties, It's pretty easy to see who's fault and the years that spending ramped up and overshot revenue.