The election thread - Two middle-late aged white men trying to be blokey and convincing..., same old shit, FFS.

[marc.r]

The upside to what looks like an inevitable coalition victory is the amusement hockeynomics is going to bring me. Fucking archaic supply siders...

it worked in america where the last decades gdp increases can be accounted for in the increase of the net wealth of the top 1% of individuals! wasnt that they aim?

if your middle and lower class (the 99% below the elite) get too much money they will stop working hard.

 

[scblack]

I loved it when he was described as the Steve Bradbury of treasurers, comedic gold.

Yes, what a classic!

 

[scblack]

I was. In fact I'm pretty sure I criticised it on here when the surplus claim was announced. As an economist-in-training I try to be as pragmatic as possible. I still suffer from partisan blinkers here and there tho...

F**king enormous blinkers, I think....hehe. Fair enough mate.

 

[pharmaboy]

Did I say he was any better? Chasing a surplus at the moment is pure populism and objectively bad economics.

????? - objectively?

We have just had 3 years worth of revenue estimates put together by economists in the treasury wrong by a mere $10b year on year.

What they were estimating on, was typical economic predictions. For a turn in the business cycle just because it should . Well, news for the economists of the world, we have had 5 years straight of no real growth, and flat taxation revenues - what evidence is there, that corporate profits are going to mysteriously suddenly improve to the extent of balancing the budget without intervention on the spending side?

Running your household or business spending budgets on future magic income increases is a sure way to bankruptcy.

This is not a time for orthodoxy .

 

[scblack]

You can trust Fat Joe but i sure wont be, he is a complete moron

There goes that bad smell again. It keeps following me around....

 

[scblack]

What detrimental 'Labor Crap' have the Greens dictated? By no means is the influence of minor independents and Greens less democratic than crafting entire policies to exploit a sub 3% swing in a couple of electorates.

Bloody hell, have you actually forgotten about the Carbon Tax? "There will never be a Carbon Tax under a government I lead".

Everyone knows that the Greens put Gillard over their knees until she handed that over for them. And it showed perfectly the incompetence of Labor - seeing that they allowed the CEO's of the mining giants to design the tax. And guess what? It earns fuck-all revenue. Pure Labor competence.

Thats the biggest "Labor Crap" item, would you like me to continue?

 

[al_]

Bloody hell, have you actually forgotten about the Carbon Tax? "There will never be a Carbon Tax under a government I lead".

Everyone knows that the Greens put Gillard over their knees until she handed that over for them. And it showed perfectly the incompetence of Labor - seeing that they allowed the CEO's of the mining giants to design the tax. And guess what? It earns fuck-all revenue. Pure Labor competence.

Thats the biggest "Labor Crap" item, would you like me to continue?

It is difficult for some to comprehend, but there was a little bit more to it. Limited News would be proud of your efforts though! What do you think about the $4 billion hole found in the direct action 'policy'?

When you see things like that, it isn't hard to understand why the coalition is so afraid of releasing costings. And they don't even have the Greens to blame! They have managed that all by themselves.

There is no doubt that Hockey is the suppository of all financial wisdom.

 

[cobba]

The mad monk won't be getting my vote.


https://www.facebook.com/Lieberal

 

[scblack]

It is difficult for some to comprehend, but there was a little bit more to it. Limited News would be proud of your efforts though! What do you think about the $4 billion hole found in the direct action 'policy'?

When you see things like that, it isn't hard to understand why the coalition is so afraid of releasing costings. And they don't even have the Greens to blame! They have managed that all by themselves.

There is no doubt that Hockey is the suppository of all financial wisdom.

Shouldn't you be inanely crapping on about Andrew Bolt by now? Even though no one else ever mentioned him?

 

[Capone]

There goes that bad smell again. It keeps following me around....

Guess that's because your head is so far up your own arse :violin:

 

[al_]

Shouldn't you be inanely crapping on about Andrew Bolt by now? Even though no one else ever mentioned him?

I haven't been trying to pick fights with you. It just makes me sad to see naive and ignorant people manipulated so effectively by corrupt media. It is depressing to see people totally unable to critically analyse what is going on around them.

 

[Halo1]

Election Debate

Back on topic...Who won the debate?

I gave it to Abbott. He looked more comfortable and polished, but looked like a complete tool pointing at the camera. That bit was weird.

Rudd looked angry and unorganised. I did not care much for the notes stuff but he did look bad reading from them.

Overall it was very boring...just like an election debate should be I guess.

I think this election will be more lost then won. The first major stuff up by either side and it will be all over.

 

[nathanm]

I think this election will be more lost then won. The first major stuff up by either side and it will be all over.

Bro, have you not watch any telly the last three days.

Abbott -
Sex Appeal
Gay Marriage is just a fashion.
Supository
Fuck, event Katy Perry thinks he's a douchebag. and that's rich coming from a pop-tart.

 

[Ivan]

Back on topic...Who won the debate?

I gave it to Abbott. He looked more comfortable and polished, but looked like a complete tool pointing at the camera. That bit was weird.

Rudd looked angry and unorganised. I did not care much for the notes stuff but he did look bad reading from them.

Overall it was very boring...just like an election debate should be I guess.

I think this election will be more lost then won. The first major stuff up by either side and it will be all over.

They both lost.

Both avoided the big issue (end of mining investment boom) and neither came across as inspiring.

They both also avoided debating any policy in detail.

It could of only been more boring if Gillard was there with that voice of hers.

 

[paulb]

Bloody hell, have you actually forgotten about the Carbon Tax? "There will never be a Carbon Tax under a government I lead".

Everyone knows that the Greens put Gillard over their knees until she handed that over for them. And it showed perfectly the incompetence of Labor - seeing that they allowed the CEO's of the mining giants to design the tax. And guess what? It earns fuck-all revenue. Pure Labor competence.

Thats the biggest "Labor Crap" item, would you like me to continue?

Impressive. You seem to have confused two different initiatives, the carbon price and the resource tax. Last I saw the carbon policy was delivering lower carbon emissions. In contrast the resource tax is pretty useless.

 

[Ivan]

????? - objectively?

We have just had 3 years worth of revenue estimates put together by economists in the treasury wrong by a mere $10b year on year.

What they were estimating on, was typical economic predictions. For a turn in the business cycle just because it should . Well, news for the economists of the world, we have had 5 years straight of no real growth, and flat taxation revenues - what evidence is there, that corporate profits are going to mysteriously suddenly improve to the extent of balancing the budget without intervention on the spending side?

Running your household or business spending budgets on future magic income increases is a sure way to bankruptcy.

This is not a time for orthodoxy .

Treasury has proven itself to be utterly incompetent for a while now, but it doesn't just seem to be at a federal level. The Stamp Duty revenue forecasts for NSW and QLD (Vic too?) have been laughable.

If policy is planned based on these forecasts, like I assume it is, then the damage and missed opportunities must be huge.

 

[pharmaboy]

Bro, have you not watch any telly the last three days.

Abbott -
Sex Appeal
Gay Marriage is just a fashion.
Supository
Fuck, event Katy Perry thinks he's a douchebag. and that's rich coming from a pop-tart.

You thinking that stuff is A " major" stuff up ? Gee whiz, I knew hyperbole was the new black, but........

Major stuff ups are John Hewsons cake, and Lathams handshake. 4 weeks ago, the ALP had a chance, now almost none - firstly because Kevin is already starting to grate on the populous ( as much as Abbott does), and second because the promised positive campaign didn't even last a week - don't promise what you can't deliver.

 

[Ivan]

Did I say he was any better? Chasing a surplus at the moment is pure populism and objectively bad economics.

Point 1: Swannie was useless.

Point 2: I believe Swannie took the small surplus position for a few reasons.

He needed to aim for a surplus (at least in forecast) to keep the ratings agencies happy to maintain the sovereign AAA credit rating. Loss of the AAA rating would have been felt throughout the entire economy due to the bank deposit guarantee, which allowed the banks to piggy back on the sovereign rating.

Also, by removing money from the economy, he was allowing the RBA to cut rates with reduced risk of inflation. Cutting rates was important to lower the dollar, assisting manufacturing, and stimulate new housing construction. Housing construction is supposed to be the replacement for mining construction.

And, he also made a silly promise to do it.

 

[scblack]

Impressive. You seem to have confused two different initiatives, the carbon price and the resource tax. Last I saw the carbon policy was delivering lower carbon emissions. In contrast the resource tax is pretty useless.

Ooh, I have mixed them up haven't I? Woopsie.:smash:

But the carbon TAX - entered at the behest of the greens - it is fair to say has not lowered emissions one iota at present. The intention is for the added tax to increase the costs of carbon intensive industry to the end consumer and therefore change behaviour to make greener alternatives more enticing. That change will take time. But its far too early for that to have made real change yet.

 

[al_]

Ooh, I have mixed them up haven't I? Woopsie.:smash:

But the carbon TAX - entered at the behest of the greens - it is fair to say has not lowered emissions one iota at present. The intention is for the added tax to increase the costs of carbon intensive industry to the end consumer and therefore change behaviour to make greener alternatives more enticing. That change will take time. But its far too early for that to have made real change yet.

http://www.theguardian.com/world/2013/aug/14/funding-gap-abbott-climate-plan

Embarrassingly for Abbott, the modelling shows that with its current capped amount of money his own policy would in fact result in 40% less domestic emission reduction than Labor's.