If , like me, you believe the next election will turn on who is best placed to undertake the enormous task of managing our economy back to health, then consider the following: The Gillard/Rudd/Swan team has delivered the four biggest budget deficits on record, with a cumulative total of $167 billion (THAT’S $167,000,000,000), including a [...] Continue reading » » »
European debt a bad baseline for Australia as Greece default looms
The Centre for Economics and Business Research (CEBR) says Britain is already in recession, as nine European nations had their sovereign debt ratings cut over the weekend. The following comment from Standard & Poor’s will send shivers down the backs of European Finance Ministers: “The policy initiatives that have been taken by European policy makers in recent weeks [...] Continue reading » » »
Budget Update – 29 November 2011
The two things that occurred to me during Treasurer Wayne Swan’s Budget Update were: (1) Why does he continually compare us to the economic basket-cases of Europe (AKA “advanced economies”), as a way of proving how well off we are? A more relevant measure of our economic performance is how far our spending and debt has deteriorated since [...] Continue reading » » »
Hague: It is wrong to leave a massive debt for the next generation.
Interesting criticism of the British Labour Party by UK Foreign Secretary William Hague overnight, which invites some unflattering comparisons with the Australian Labor Party. Hague said: “a re-elected Labour Government… would have carried on as before, piling the debt ever higher, letting the deficits run out of control, telling the country that it could live for ever [...] Continue reading » » »
