(Miscellaneous debris)

[RB]

Covering up, I doubt it. Downplaying, yes.

[Gozu]

Could there actually be something to this Thompson thing? I think like most Australians I'd just assumed it was really nothing and his political foes were just whipping up a storm to make him and Labor less popular. But now it's gone this far and it's gaining some real legs. Now the police are officially involved while the HSU has been expelled from the ACTU under it's zero tolerance for corruption and I'm really starting to think we might have a genuine scanal here. Not the usual Australian politics type scandal of someone changing their mind or being wrong about something, but a bona fide, criminal court case scandal involving corruption.

All this under the backdrop of a 1 seat majority government where losing a member could mean the government being brought down makes these latest developments enormous.

I doubt Gillard Labor would've screwed over Wilkie if they knew there was something in it.

[Sojourner]

I suspect that what the Liberals want is not for Craig Thomson to be sacked now, but for charges to be laid and it then to be suggested that Gillard and a number of his colleagues were/are aware of what had happened and have assisted to cover it up accordingly. - Then if charges are laid the rest of the government will appear complacent in it and will see a far larger swing against them as a result. Its one thing to lie to the electorate, its another to cover up for Criminal behaviour and its been proven in elections before hand what happens to governments at the ballet box that are caught covering up for people that then end up facing police charges. WA State Labor is one good example in recent times.

[dedja]

I'm fairly sure Gillard was on the grassy knoll as well ...

[Sojourner]

Maybe she was meeting with GMH and Ford?

[Q.]

What's that rightard Pickering's obsession with a nude Gillard?

[Sojourner]

What's that rightard Pickering's obsession with a nude Gillard?

Seems to be a little generous in the titty department as well....

[Strawb]

What's that rightard Pickering's obsession with a nude Gillard?

Seems to be a Very generous in the titty department as well....

FIFY

[GWW]

Wow, look at these 2 great friends on the left smiling for the cameras..

http://www.dailytelegraph.com.au/news/s ... 6324355826

[Sojourner]

The Greatest Treasurer in the world speaks about Interest Rates on the ABC, completley clear, not at all hypocritical, how any of you could think such a thing is very concerning.



BARRIE CASSIDY: Ok, you're saying now with the budget coming up you do plan to deliver a surplus and this will help the Reserve Bank cut rates in the future. How does that work, how are the two related?

WAYNE SWAN: Well, because as I was saying before, Barrie, we've got an economy returning to trend growth, which is about 3.25 per cent; unemployment rate of 5.2 per cent; a very strong investment pipeline. These are precisely the conditions in which a Government should be bringing its budget back to surplus, particularly given the international uncertainty.

It's a matter of fiscal credibility, Barrie, bringing it back to surplus in these conditions is what anyone would expect, particularly when you see the problems flowing from sovereign debt and very loose budgeting elsewhere in the world. With these conditions in place it's imperative to bring our budget back to surplus. It provides a buffer against international uncertainty but does provide additional room for the Reserve Bank to cut interest rates if it desires to do so.

BARRIE CASSIDY: So it gives the Reserve Bank more flexibility. Why did you say then in 2009 that the fiscal stance of the Government has no direct effect on decisions of the Reserve Bank?

http://www.abc.net.au/insiders/content/ ... 482879.htm

[Gozu]

Labor bought right into the 'surplus come hell or high water' garbage the Libs & their media shills always push so deserve the crticism they're copping from a number of economists because of it.

[Jimmy_041]

Problem is Gozu, we cant live beyond our means all of the time.
Have a look at SA where we are now a basket case thanks to Foley who will, shortly, lose any credibility he had left.

[Gozu]

Problem is Gozu, we cant live beyond our means all of the time.
Have a look at SA where we are now a basket case thanks to Foley who will, shortly, lose any credibility he had left.

Sure but sometimes it's better not to be in surplus in economic downturns due to the lack of spending from the private sector at such times.

I won't get into my personal opinion that no govt of any colour should ever turn a surplus. By definition it means they're either not spending enough on the public or taxing the public too much.

[Psyber]

I thought the idea of a surplus was to have buffer if something goes wrong unexpectedly, and that it was therefore a handy thing to have.
Certainly, I like to have reserves to cover unexpected costs arising in my minor personal economy.

If something arises and you have no reserves, and you then borrow more than you can comfortably fund, you are starting on the way to becoming Greece - or South Australia!

[Gozu]

I thought the idea of a surplus was to have buffer if something goes wrong unexpectedly, and that it was therefore a handy thing to have.
Certainly, I like to have reserves to cover unexpected costs arising in my minor personal economy.

If something arises and you have no reserves, and you then borrow more than you can comfortably fund, you are starting on the way to becoming Greece - or South Australia!

The reality is though nations can borrow much easier and at much better rates than households and most households are effectively in debt anyway (mortgages).

No one in their right mind would compare our great economy one of the best performing in the world to a basketcase like Greece.

[Jimmy_041]

Two ways you can have money in the bank

1. Save for a rainy day
2. Borrow

Either way, someone has to pay for it (ie) us

In SA, we have the situation where Rann and Foley spent everything and still borrowed, and we poor South Australians will be paying off the results of their irresponsible actions forever

[Psyber]

The reality is though nations can borrow much easier and at much better rates than households and most households are effectively in debt anyway (mortgages).
No one in their right mind would compare our great economy one of the best performing in the world to a basketcase like Greece.

1. A a private mortgage, or a national debt, is only rational if you can comfortably afford the repayments and will benefit by owning, eventually, something of substance.
Beyond that, you go down the drain in time...

2. All the basket case nations, presumably, started by borrowing at what they thought of as affordable levels, but got used to bribing the voters at each election by borrowing "just a little bit more".

The lower rate of nations' borrowing doesn't matter when it just means they ultimately still borrow more than they can comfortably pay for, at any interest rate, and then are in so deep the necessary cuts can't be made without voter anger causing them to lose office - so they keep on with "just a little bit more" until they are borrowing to pay the minimum payments. The difference between us and Greece is only a matter of how far down that line you go.
The answer for nations or individuals is to make sure you minimise debt and don't fall for that trap.

One rule applies to any debt - individual or national.
Only borrow if it is going to pay off with an asset that earns income or accrues capital, and then don't over-extend yourself.

[Gozu]

"Rundle: Anzac Day and why we need to question ‘myths’ of war"

http://www.crikey.com.au/2012/04/24/run ... hs-of-war/

[Q.]

"Rundle: Anzac Day and why we need to question ‘myths’ of war"

http://www.crikey.com.au/2012/04/24/run ... hs-of-war/

Probing article, good commentary. Reminded me of my grandfather.

[dedja]

Oh, why didn't they invite Abbott instead?

http://www.adelaidenow.com.au/news/brea ... 6341660502

INDEPENDENT Senator Nick Xenophon has had teargas fired in his direction during a demonstration for electoral reforms in central Kuala Lumpur.

Tens of thousands of demonstrators swamped the Malaysian capital today to demand the reforms, ahead of national polls expected soon.

Senator Xenophon, who is in Kuala Lumpur on an international fact-finding mission on election processes in Malaysia, was among the crowds when police fired teargas and chemical-laced water at demonstrators.

Until then it had been a peaceful rally that had included chanting and a speech by Malaysia's opposition leader Anwar Ibrahim, Senator Xenophon said.

"The police have just let off canister after canister of teargas," he said soon after the demonstration was broken up.

"People have been injured. People are fainting."