[Ugly Mongrel]

Yet another bit of conservative bullsh1t. Governments are not households or businesses and they are never will be.

Please explain why the same rules for profitability, don't apply.

Government don't run at a profit, Phil. If they Dodd there would be no spending on running the county.

[Doggie 1]

Ideally they should endeavour to run surpluses.
Phil is right.
The philosophy is the same and we can't keep going as we are now.

[rustynutz]

Even businesses don't always run in the black...

[Phil №❶]

No matter if it's a business, my household, or a Government, debt is to be avoided at all costs. I realise in business, there are times when loss or deficit occurs, this is normal and only a problem if it is not backed up by assets or forecasts which will allow trading out of that situation.

The Queen is right, democracies provide services initially and they are not profit making enterprises, to balance this, taxation is required, but the emphasis must be on balance, not irresponsible borrowings to sustain normal government.

It has been stated by some people that the country is in good shape, nothing to worry about, if that is so, why are we borrowing at such a rate, why not use our own money.

[Just Rick]

No matter if it's a business, my household, or a Government, debt is to be avoided at all costs. I realise in business, there are times when loss or deficit occurs, this is normal and only a problem if it is not backed up by assets or forecasts which will allow trading out of that situation.

well we have been screwed for years then since the last lib reign,they sold all Australian Government assests,there bugger all else they can sell once they get in on the weekend,so still worried where they're going to be making there money from to fund they're claims,the top 3000, Grabbit was going to levy to fund his unfundable marternity leave promise have already put into place legal teams to fight him and the government if he try's to impliment it and he'll bow down to them.

[Aussie Keith]

On a slightly different topic, NBN.

http://www.theage.com.au/it-pro/government-it/nbn-the-difference-between-the-two-plans-20130815-hv1dl.html

I've put here since it compares the two offerings and indicates why the fibre to the node solution is not a great idea. As copper is what is being proposed for the backbone of the FTN solution, that's a good reason we don't want it since maintenance costs on copper are not insignificant and reliability can be poor. 

An aside, the NBN guys came down our street today. Even though we have had a fast and extremely reliable cable service for years, I'll be going to fibre as soon as possible. If I can.

[Ugly Mongrel]

Finally, things are clear.

http://brisbanetimes.com.au/federal-politics/federal-election-2013/coalition-figures-clear-as-mud-20130905-2t85s.html

[Aussie Keith]

Finally, things are clear.

http://brisbanetimes.com.au/federal-politics/federal-election-2013/coalition-figures-clear-as-mud-20130905-2t85s.html

You can see now why they were slow to disclose. Professor Judith Sloan, professor of economics, journalist and famously a very staunch Liberal supporter has uncharacteristically criticised the coalition figures, stating:

An improvement of just $6bn in the budget bottom line over four years is really a rounding error. Total annual government spending is currently at about the $400bn mark.

So no cut-cut-cut in the Coalition's costings figures, but they do represent a very lazy and uncertain attempt at fiscal consolidation. And there is quite a lot of rubbish spending there: a trial of "marriage vouchers", for example.

http://www.theaustralian.com.au/opinion/columnists/very-lazy-tentative-stab-at-fiscal-consolidation/story-fnbkvnk7-1226712513460

Polling this morning is showing a strong swing back to Labor presumably as a result of people who can read now seeing that this option is far from the magic bullet that's been promised. I'm doubting it will save Labour, but I am hoping it clearly demonstrates whats been said which is the would be government has no clue. None. And we will pay handsomely for their incompetence, I am sure.

[rustynutz]

Like someone commented, it's a reverse Robin Hood, take from the poor and give to the rich......   

[Aussie Keith]

No matter if it's a business, my household, or a Government, debt is to be avoided at all costs.

I'll challenge your assertion there Phil. When we bought our i30, the vendor had a special on finance which worked out to 2.5% overall. Accordingly we chose to use their money instead of ours which is earning far more. Therefore it is certainly possible to use borrowings to your favour. And right now that's an option owing to access to low lending rates.

Likewise we rotate spending through a credit card to take advantage of the interest free period paying it out so that once again we are using their money while ours is busy earning interest. Technically, that's debt, but its managed so its not accruing interest.

Where this falls down is if debt isn't managed and it starts attracting interest and other charges in excess of any offsets which was your point. So a certain level of debt is OK and even advantageous so long as its properly managed.

[Aussie Keith]

Like someone commented, it's a reverse Robin Hood, take from the poor and give to the rich......   

Of course, its where the votes are.

[rustynutz]

No matter if it's a business, my household, or a Government, debt is to be avoided at all costs.

I'll challenge your assertion there Phil. When we bought our i30, the vendor had a special on finance which worked out to 2.5% overall. Accordingly we chose to use their money instead of ours which is earning far more. Therefore it is certainly possible to use borrowings to your favour. And right now that's an option owing to access to low lending rates.

Likewise we rotate spending through a credit card to take advantage of the interest free period paying it out so that once again we are using their money while ours is busy earning interest. Technically, that's debt, but its managed so its not accruing interest.

Where this falls down is if debt isn't managed and it starts attracting interest and other charges in excess of any offsets which was your point. So a certain level of debt is OK and even advantageous so long as its properly managed.

And of course you need to borrow to get a credit rating.... 

[eye30]

Polling isn't until tomorrow

[Ugly Mongrel]

I wonder how many more unreleased policy surprises Tony has in store for us? 

http://www.brisbanetimes.com.au/federal-politics/federal-election-2013/coalition-announces-internet-filter--and-immediately-backs-down-20130905-2t7nb.html

[Ugly Mongrel]

Can rustynutz, Keith and I have a go at checking Tony's policies? It seems no one else has done it yet  , and, hey, we're independent.
 
http://www.brisbanetimes.com.au/federal-politics/federal-election-2013/key-coalition-policies-not-submitted-for-independent-costings-20130905-2t6dm.html

[Doggie 1]

but I am hoping it clearly demonstrates whats been said which is the would be government has no clue. None. And we will pay handsomely for their incompetence, I am sure.

My view exactly on Labor.

[Aussie Keith]

but I am hoping it clearly demonstrates whats been said which is the would be government has no clue. None. And we will pay handsomely for their incompetence, I am sure.

My view exactly on Labor.

Indeed.

[rustynutz]

So we're back to sticking with the devil we know....

[rustynutz]

I wonder how many more unreleased policy surprises Tony has in store for us? 

http://www.brisbanetimes.com.au/federal-politics/federal-election-2013/coalition-announces-internet-filter--and-immediately-backs-down-20130905-2t7nb.html

Their mistake was accidently releasing it BEFORE the Election....Shows the incompetency of these clowns! 

[rustynutz]

Can rustynutz, Keith and I have a go at checking Tony's policies? It seems no one else has done it yet  , and, hey, we're independent.
 
http://www.brisbanetimes.com.au/federal-politics/federal-election-2013/key-coalition-policies-not-submitted-for-independent-costings-20130905-2t6dm.html

C'mon Terry, keep up, I posted that way back in reply 606....

[Doggie 1]

but I am hoping it clearly demonstrates whats been said which is the would be government has no clue. None. And we will pay handsomely for their incompetence, I am sure.

My view exactly on Labor.

Indeed.

I'm afraid I'm going to have to disagree again.
I've never seen the grass as greener on the ALP side and still don't.
One more sleep. 

[Ugly Mongrel]

If Allan Joyce took two weeks parental leave under the Libs PPL scheme, he'd pocket  $38461 (plus super). Gee, that's fair.

http://brisbanetimes.com.au/business/aviation/qantas-chief-alan-joyce-gets-1m-raise-20130906-2tab9.html

[Aussie Keith]

Thanks everyone for a great discussion these past few weeks. I'll leave you with this last thought, a reflection in the rearview mirror: http://www.macrobusiness.com.au/2013/05/the-secret-of-the-howard-governments-surpluses/

Here's hoping the incoming team have what it takes to match the economic credentials of their forebears.

[Doggie 1]

With all of the negative press that has been dug up and posted about previous Liberal governments, it appears that the new one will have an easy job surpassing their record of good governance and I look forward to that.

Thank you all and here's to the next few years of getting Australia back on track.   

[Aussie Keith]

With all of the negative press that has been dug up and posted about previous Liberal governments, it appears that the new one will have an easy job surpassing their record of good governance and I look forward to that.

Thank you all and here's to the next few years of getting Australia back on track.   

Agree. Onwards.

[Surferdude]

Gotta laugh. We now have "Aussie Keith" and "Pommie Keith"
I surf with two Stuarts.
One is "Pommie Stew" and the other "Seth Efrican Stew". 

[Doggie 1]

No rabbit Stew? 

[Doggie 1]

Just an update for those of you around the globe who are sitting on the dges of your seats awaiting the final outcome of the Australian election.

http://www.smh.com.au/federal-politics/federal-election-2013/federal-election-2013-live-coverage-and-results-20130907-2tbd0.html

[Phil №❶]

 

[Just Rick]

Just an update for those of you around the globe who are sitting on the dges of your seats awaiting the final outcome of the Australian election.

http://www.smh.com.au/federal-politics/federal-election-2013/federal-election-2013-live-coverage-and-results-20130907-2tbd0.html

No need to be on the edge of ours seats Dave,unfortunately or fortunately which ever side of the fence you are,there is going to be a change of government