SA Footy

Q. wrote:It's time for you to reject the false notion that federal deficits are damaging and will indebt future generations

The national economy does not operate like a household budget.

Even though AMEX Black has no limit, you still have to pay them back
And Mrs Jimmy has both an intolerance to both debt and my quest to own my own football club

I remember a debt discussion with Mrs Jimmy.
I turned around to 14yo Jimmy Jnr and asked what he thought about me leaving him $1m in debt
He asked the value of the underlying assets and whether it was cashflow positive
$4m assets mate and Yes
Jimmy Jnr: Leave me more debt.....

Start here:

http://bilbo.economicoutlook.net/blog/?p=332

Then thank me later for freeing your mind.

Q. wrote:Start here:

http://bilbo.economicoutlook.net/blog/?p=332

Then thank me later for freeing your mind.

LOL I went to this and the rest supports it



I'll read the rest over lunch

I like where you refute the central points of his argument.

I could only get through part of it Q
It looks like modern monetary theory (you've got to remember my studies were done when the gold standard was around )
Got to get back to work so I don't add to the 7.3% unemployment, but everything's good according to Gail Gaggo: "The Premier announced some weally (sic) good things this week"
There are some arguments to MMT that it ignores some external influences. Economics for the perfect world, but as we in SA now all live in Neverland, it will probably work here

He's very MMT oriented.

Never studied much economics, but I really don't get how investing billions in thousands of Aussie jobs and producing the desired product is an inferior choice to sending billions of dollars overseas and receiving an equally good product.
Of course there's been debate about the quality of product that each party could make, some claiming the aussie subs would be better, others the Japanese, then the issue of costs with both sides claiming the opposite's product to be more expensive and on and on with current production delays, which is also justified by experts, who claim that's to be expected and will be remedied as the workforce becomes more experienced.
The issues go on and to my mind, with good and bad touted with either option then surely spending billions, keeping the cash HERE and creating jobs is far more attractive.

Its likely we will get a fleet of Japanese Subs. Apparently the Japanese maybe looking at some work being done at ASC. That might be the only way in for ASC.

Looks like SAAB from Sweden were looking to use the ASC as a builder.....but not anyone else.

http://www.abc.net.au/news/2015-02-20/j ... ld/6159834


Japan, France and Germany will compete to build Australia's next submarines as the Federal Government continues its search for a potential partner, the Defence Minister says.

Kevin Andrews said the Defence Department would seek proposals from potential partners looking at options to either design and build overseas, in Australia or a hybrid approach through a "competitive evaluation process".

But there were no guarantees the submarines would be built or designed in Australia.

Mr Andrews ruled out Swedish defence company Saab, which has a presence in Adelaide and had expressed an interest in building the vessels in South Australia.

But the Minister said he expected significant work would be undertaken in Australia, particularly during the build phase leading to the creation of at least 500 new, high-skilled jobs.

He said many of the 500 jobs would be in South Australia and would focus on significant works ranging from combat-system integration to land-based testing.

It is particularly good news for Australian jobs and can I say to anybody in South Australia who may be listening or watching, this is particularly good news for South Australia.
Defence Minister, Kevin Andrews
"The Government expects that significant work will be undertaken in Australia as part of the build phase of the future submarine including, but not necessarily limited to, combat-system integration, design assurance and land-based testing," Mr Andrews said.

"This will result in the creation of at least 500 new, high-skilled jobs in Australia for the life of the program, the majority of which will be in South Australia.

"So this is good news for Australian industry, it is good news for the Australian economy, it is particularly good news for Australian jobs and can I say to anybody in South Australia who may be listening or watching, this is particularly good news for South Australia."

South Australian Premier Jay Weatherill said he believed the Government wanted the submarines built in Japan.

He said he was disappointed Sweden had been ruled out of the "competitive evaluation process".

"It tells you all you need to know about the process," Mr Weatherill said.

"Sweden say they can build submarines for the right price, on time, here in South Australia, and they get ruled out of the process."

The Future Submarine Program is the largest Defence procurement program in Australia's history and represents an investment in the order of $50 billion, the Government said.

Mr Andrews said France, Germany and Japan had proven submarine design and build capabilities, and currently produce submarines.

Interesting. If the government doesn't know who is going to build the subs yet, obviously have no contract in place, how can they say they think much of the work will be done in Australia?

Maintenance Boon, it's worth more than the build over the life of the subs ... as long as they stipulate that it must be performed in Australia.

I've got a funny taste in my mouth. It tastes like years and years and millions of wasted dollars trying to make a decision.

This is a ******* disgrace by both major parties

Our future is looking very bleak As a young ASC worker, doing my apprenticeship there and a qualified tradesman for a year now I plead to the government to look after South Australian employment and provide my fellow tradesman work mates and I with future work and help ensure our working future.

Hang in there TDK, must be hard with an uncertain future and successive governments mismanaging the situation and seemingly being more worried about the politics rather than defence capability and protecting Australian jobs and investment.

dedja wrote:Hang in there TDK, must be hard with an uncertain future and successive governments mismanaging the situation and seemingly being more worried about the politics rather than defence capability and protecting Australian jobs and investment.

It is hard because really nobody has any idea what will happen to us and the attitude at work is more negative then positive. While the management has had its major issues it has worked it's backside off to improve and our unions are working overtime along with the company to impress and encourage the government to provide us with future work. Despite what is said in the media the people on the shop floor are doing a good job and despite all the bullshit around us the Ships are getting built.

If we're not provided with future work what are the 2000 odd people that work at ASC South going to do for work? Where will we all go? This would surely have a negative effect on South Australia and its economy if all those people are out of work.

Are people looking for alternative jobs now in case the decision does go the way of the Japs?

It is a terribly difficult situation to work in an environment of uncertainty

mighty_tiger_79 wrote:Are people looking for alternative jobs now in case the decision does go the way of the Japs?

It is a terribly difficult situation to work in an environment of uncertainty

No, from our point of view the Air Warfare Destroyer project still has 3/4 years left in it so nobody on our site is panicking just yet.

We're just keeping the faith that we may get the 10 Frigates to build.

Fingers crossed