Things are really crook just about everywhere else but here

[Jovial Monk]

Britain's recession woes deepen as exports slump

LONDON (Reuters) - Britain's goods trade deficit unexpectedly widened in April as exports plunged, raising the threat of a third quarter of economic contraction and adding urgency to new measures to foster growth as trading partners in the euro zone weaken.

The country slid back into recession around the turn of this year, and more pain looms as a relentless debt crisis in the euro zone - the main market for Britain's exports - hits trade and makes companies reluctant to invest and hire.

The Office for National Statistics said on Friday the goods trade deficit grew to 10.1 billion pounds ($15.70 billion) - the second-largest gap since records began in January 1998. That compared to a deficit of 8.7 billion pounds in March and confounded forecasts for a reading of 8.5 billion pounds.

"In broad terms, the numbers look disastrous," said David Tinsley, economist at BNP Paribas. "As things are not going to get better abroad, supporting the domestic economy is pretty important."

http://news.yahoo.com/britains-recessio ... iness.html" onclick="window.open(this.href);return false;

I know it is popular in certain quarters, the ones idiots and cretins assemble in, to diss Treasurer Wayne Swan. Yet a look at Europe. at the US, at the UK shows things are much better here economically and Wayne has had a fair bit to do with that.

The recession that didn’t happen here, the stimulus effect flowing out of the Carbon Price, the ongoing infrastructure build and the ongoing economic management.

[IQS.RLOW]

Thank god for Costello eh?

The goose has done fuck all. He just inherited a $20bn surplus at the right time and has spent the last 4 years pissing it against the wall while

[Jovial Monk]

What stupid Lib fanboi crap!

Costello helped stoke a credit fuelled consumption boom we are paying for now.

Costello made many cuts to income tax esp to the higher brackets paying for them with taxes from the boom. GFC killed the boom and that is why we have had deficits which led to a low level of debt.

Howard did his little bit, pissing up against the wall the revenue created by the boom, robbing education, health and infrastructure incl road building to get more funds to put in his pork barrel. Swan has been cutting this reckless, irresponsible spending.

Learn a bit about economics before trying to take part in an informed debate.

[IQS.RLOW]

If we had the same mismanagement over the last 15 years that we have seen over the last 4, this country would be a basket case the same as Europe...and this is exactly the same model that Liebor want to take Australia down

[IQS.RLOW]

What is it that you prefer mismanagement and useless governance to prosperity, surpluses and not wasteful spending of taxpayers money?

Are you just a slow learner?

[Jovial Monk]

Man, Swan has been cutting $billions, tens of billions of dollars, of waste and middleclass welfare from the Budget. Spending and tax are both lower now as a % of GDP than they were under Howard and Costello, like 20% now to 24% back then.

Really, drop the Lib fanboi stuff and actually do some reading. Swan has been doing good. If someone does good then it does your cause no harm to admit it. Howard didn’t do that much that was good but on stuff like the gun buy back I have always said that was good.

[IQS.RLOW]

Swan is a fucking moron and everyone knows it? He does nothing except read from the treasury playbook

The terms of trade now are massive so your % of GDP as a comparison is just Liebor spin

[Jovial Monk]

Terms of trade don’t flow into govt coffers.

Swan has cut tons of waste and middleclass welfare from the Budget.

He now needs to increase the two top income tax rates to increase tax revenue and make it more constant. Preferably put in another bracket so bracket creep silently swells the Treasury coffers.

We have seen these past 4 years how over–reliance on company tax creates huge ongoing deficits.

[IQS.RLOW]

Bwhahahaha... Middle class welfare

#cashforyou

[Jovial Monk]

That carbon price compensation is not going to the middleclass, I am sure you will qualify for it tho.