Nothing much needs to be said about the post below. Apart from the fact that its a magnificent smackdown on Wayne Swan's last budget!
Read More: http://austeaparty.com.au/web/its-all-a-con-budget-2013/
May 14, 2013
April 29, 2013
Wayne Swan presses the ad hominem button
Mr Swan's recent article at the Chifley Research Centre's website sets out to attack the IPA, Tony Abbott, the CIS and anyone else in favour of freedom. Fair Go Under Fire? Maybe he should look in the mirror first and focus on that pesky thing called the budget!
Read More: http://chifley.org.au/opinion/fair-go-under-fire/
March 7, 2012
January 13, 2012
Give Me More Cash: Obama seeks $1.2 Trillion Debt limit rise
President Obama, in a one-sentence letter to House of Representatives Speaker John Boehner, the top Republican in Congress, said "further borrowing is required to meet existing commitments."
The proposed increase would push the US debt ceiling to $16.394 trillion.
Meanwhile…
Even before the euro crisis, people were worried about Europe’s pension bomb.
State-funded pension obligations in 19 of the European Union nations were about five times higher than their combined gross debt, according to a study commissioned by the European Central Bank. The countries in the report compiled by the Research Center for Generational Contracts at Freiburg University in 2009 had almost 30 trillion euros ($39.3 trillion) of projected obligations to their existing populations.
Germany accounted for 7.6 trillion euros and France 6.7 trillion euros of the liabilities, authors Christoph Mueller, Bernd Raffelhueschen and Olaf Weddige said in the report.
And according to JP Morgan...
Australia is "vulnerable" to recession in 2012 as the global economy deals with the potential ramifications of the worsening European sovereign debt crisis.
JPMorgan chief economist Stephen Walters said the Australian economy was not as well placed now compared to the start of the downturn, given the nation's fiscal position.
There is no way Wayne Swan will get the budget back into surplus by 2012-2013.
Continue reading "Give Me More Cash: Obama seeks $1.2 Trillion Debt limit rise" »
November 29, 2011
Tell Him He’s Dreaming
Chalk up another success of the Gillard government – Budget Blowouts.
The Gillard government will slash public sector funding and pare back the baby bonus in an attempt to turn a forecast $37 billion deficit this year into a $1.5 billion surplus by 2012-13.
The government's mid-year economic and fiscal outlook, released today, reveals the deficit is expected to come in well above the $22.6 billion forecast at budget time, on the back of a $20 billion revenue write-down over the forward estimates.
And Mr. Swan is Euromoney’s world's finance minister of the year!
From a commitment, to an objective and soon it will be all but a dream.
October 5, 2011
Wayne Swan Picture in need of a Caption
And this bloke is Euromoney’s world's finance minister of the year!
Andy Semple
Follow Andy on twitter
Andy is on holidays in a country that still values free speech and will probably never ever introduce a Carbon Dioxide Tax. He may or may not return in mid October.
August 29, 2011
Von Gillard's Express
More finacnial pain to come?
A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets.
Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group's implosion nearly three years ago.
How’s that surplus looking, Swanny?
Steve Hunter is a freelance cartoonist and illustrator and lives in Buderim Queensland.
Andy Semple
Follow him on twitter @Bulmkt
August 11, 2011
I Have a Dream
The Gillard government's pledge to return the budget to surplus by 2012-13 became an "objective" today, with Wayne Swan appearing to modify the commitment in the face of global financial uncertainty.
The Treasurer said international institutions wanted Australia to maintain strong fiscal discipline.
He told ABC radio in Perth that “we've been doing that and we have put in place the objective of coming back to surplus in 2012-13 because that's important to send a message to the world”.
Continue reading I have a dream
From a commitment, to an objective and soon it will be all but a dream.
Andy Semple
Follow him on twitter @Bulmkt
Tim Andrews
Menzies House is the leading online Australian community for conservative, centre-right and libertarian thinkers.
Recent Comments