Successful stimulus

[Jovial Monk]

The nation's jobless rate hit 5.1 per cent in June - the lowest since January 2009 - as signs of continuing economic improvement bolstered employer sentiment.

In June, the labour market saw a net rise of 45,900 jobs, about three times the total number that had been predicted by economists and the biggest net jobs gain since in six months. Of the new positions, 18,400 were full-time and 27,500 part-time.

Revised data issued by the ABS this morning show that the jobless rate for May was also 5.1 per cent, a tenth of a percentage point better than originally recorded.

“Brilliant. What can you say? This is a very healthy economy,” said ICAP economist Adam Carr.

http://www.smh.com.au/business/jobless- ... 101da.html

This is only because of the stimulus measures some of which are still going, like the BER.

Now, the second leg of the GFC is about to stamp down even harder than the first stimulus will need to continue and even ramp back up.

The NBN will be a big part of the ongoing stimulus, rolling it out of course but also the wave of innovation and new services an applications unleashed when it is rolled out. With the Murray Darling (and Great Artesian Basin) drying up due to climate change we may need to tap the mighty Burdekin River to top up the MD and keep SE Australia going, plenty of scoe for stimulus in constructive ways.

[HIGHERBEAM]

These comments make clear that the Gillard Labor government is preparing to deliver the dictates of global financial markets, which are demanding a worldwide shift from stimulus packages to austerity measures, in order to claw back from the working class the cost of the mountain of toxic debt taken from the banks onto government balance sheets in 2008-09.

Even your socialist newspaper is saying the obvious that stimulus packages dont work and in the end austerity programs have to be implemented to pull us back from the abyss

[Jovial Monk]

Second rollout of NBN announced today, alas not covering my suburb This is a much bigger rollout than the first one I was glad to see.

[Dusty Trail]

Most people don't give a shit who is in Government. Usually they vote with their "what's in it for me". Nobody give a rat's arse who the Prime Minister is. I certainly can't see the under 40's that I know voting for Dullard because she is a female.

Do you understand what a "roll out" is? Does your suburb have poles with street lights and telephone lines attached?

[IQSRLOW]

The major result of the stimulus is houses burning down, builders getting rich ripping off schools and Liebor causing inflation to skyrocket

[Dusty Trail]

The major result of the stimulus is houses burning down, builders getting rich ripping off schools and Liebor causing inflation to skyrocket

Even kids who were spending time sleeping under bridges got the $900 to help their habit. Or did they? Homeless people don't have a bank account so Centrelink can't give them the dole?

I was asking Monk whether he lived in a street with telegraph poles and electric light cables attached. If NOT his 'services" are underground and there is NO WAY that any Government will start digging to lay cables. It is just too expensive and besides, wireless is the next best thing, not cable.

[HIGHERBEAM]

The June Performance Of Construction Index (like the PMI for manufacturing) yesterday surprised with a sharp fall.

The index fell 6.8 points to 46.4 from May, according to the survey by the Australian Industry Group and Housing Industry Association released yesterday.

A reading below 50 shows the industry is contracting.

That was the fastest rate of contraction seen in the index for 10 months.

The six interest rate rises (which have slowed demand for housing finance) and the fall in demand for new houses with the ending of the first home buyers' grants seem to have hurt some section of the construction industry.

The fall came from the first contraction in demand for homes in 10 months.

"The housing outcome together with the continuing weakness of the apartment sector reinforces other signs of flat household spending," said director of public policy at the Australian Industry Group, Peter Burn.

Stimulus packages just dont work,all economists say tHis except Labor

[IQSRLOW]

Hasn't really worked anywhere and all it has, and will do here is over stimulate an economy that didn't need the level of it that Liebor brought.

Get ready for rampant inflation and interest rates (See VK, I could have mentioned "that would make Keating proud" in here but I choose to take the higher road )

[Dusty Trail]

What happened was that people were suddenly allowed huge amounts of CREDIT with absolutely no way of paying it back. I think this was a Howard thing, wasn't it?

[outdigenous]

This "stimulus" was very regional. Many geographical areas did not benefit, many sectors
of the economy did not receive any flow-on affect.

It was a short term solution to a long term problem