ralph wrote:
> On Sat, 12 Apr 2008 18:27:58 -0700 (PDT), petzl <petzlx@[EMAIL PROTECTED]
>
> wrote:
>> Not seen an incoming Government yet not fudge the books to make it
>> look like the incoming Government look like it has work to do
You are referring to the tory attempt to misrepresent a budget deficit
a traditional fiscal measure to invest in infrastructure for the future
as a black hole and to scream hysterically about a 'Debt Truck' when
they subsequently presided over a much larger national debt burden,
with huge borrowings funding a speculative housing bubble and exposing
us to the American recession, ho8using unaffordability, bankruptcy and
cor****ate collapses.
> There was nothing fudged about Keating's debt,
True. Deficit funding is the cheapest form of national investment
in infrastructure, and is fully accountable, despite tory econorat's
attempts to ****tray it in sci-fi spin as a 'Black Hole', and replace it
with massive privatization, record debt and a distortion of the market
which has seen massive inflation in house prices as part of their
bubble economy.. the bursting of which brought down their government
so emphatically even the PM lost his seat!! 8^o
> nor was it a secret we
> had an inflation problem (with the resulting interest rate hikes) in
> the period leading up to Howard getting the arse.
That is about the sum of Howard's Legacy: record debt, hyper inflated
housing and the looming credit crunch and cor****ate collapse as fallout
from over exposure to deregulated (rorted) USSA capital market
free-for-alls.
Thank goodness we have a government which has thwarted the tories
attempt to transfer the entire social cost of their policies by
deregulating the labor market completely and driving down wages
and conditions .. the only 'anti-inflation' measure they will ever
consider!!!
They miscalculated the economic literacy of the electorate, which had
grown weary of one more Howard lie.
Nut die-hards like ralph are still telling them! B^D
> The difference is that the incoming Libs actually did something about
> Keating's debt
They a) Raised taxes and slashed services
b) labeled a budget deficit a "Black Hole" and slashed spending
on the investment in education and infrastructure it would
have provided
c) ****fted the debt into wasteful private speculation in an
overheated property market, funded by RECORD FOREIGN BORROWING,
and producing MASSIVE INFLATION of house prices, MASSIVE DEBT,
and now the obvious results of the inevitable crash as the
bubble bursts: Credit squeeze, high interest rates, bankruptcy,
cor****ate failure, falling asset prices in the property market,
and a completely distorted investment market!
> and unemployment problems,
the tories did bugger all .. the resources boom and 4% growth they
inherited from Keating continued, as did the co-operative IR environment
established under the Hawke Keating governments.
The tory attempts to re-ignite class war with AWA's (Authoritarian
Wageslave Arrangements) and noWorkChoices came AFTER the resources
boom prosperity created low unemployment, and the tories were kicked out
before their ideological idiocy could do much damage.
> whereas Labor now, with both an IR rollback and tax cuts,
> appears determined to make our inflation
> problem worse, not better.
The Howard government claimed their IR was responsible for HIGHER wage
outcomes, so that would have been MORE inflationary, and the Howard
government was promising BIGGER tax cuts, so that would, according
to you, have been an even greater inflation disaster. B^)
Nice try, ralph, but the tory spin has lost it's cloak of invisibility,
people see that **** coming! B^D
> Beggars belief ...
That's why the electorate stopped believing it, and gave the Lying
Rodent a humiliating send off.
At least Costello is demonstrating the low esteem in which the private
sector holds him.. by remaining a humble backbencher, sitting on his
arse and achieving about as much as he did during the last decade as
Howard's Boy Toy!
> here the federal ALP are telling everyone they
> inherited this inflation problem, yet go ahead and implement policies
> to drive interest rates up even higher.
I agree they should have gone furhter than promising SMALLER
inflationary tax cuts than Howard, and used the surplus to
invest in all the crumbling infrastructure the tories left them,
but you low-tax anti-guvmint wankers would have played the populist
card and then Howard's MORE INFLATIONARY, bigger tax cuts would have
really ****ed us.
The ALP's Something is better than your Nothing, you hypocrtitical skank.
And that is why even the Liberals are abandoning that Cretinous
Chameleon, Backflip Brenda, Mr 9%! B^)
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