Do you think that a second stimulus package is needed to boost our economy? (3 Viewers)

[enterspacebar]

Ok, let's admit it.

Our economy is fucked with economists saying that we're already in recession (the R word the government refuses to use/phase we're in).

Do you think that a SECOND stimulus package is needed to boost our economy?

I say no and yes.

No to the big motherfuckering companies that didn't even know that we got a first stimulus package like Harvery Norman.

But yes, to the thousands of people who have lost their jobs as a result of the economy fucking up.

 

[King.BBjames]

well, i never really got the $1K last time. so unless i get money i really dont give a shit.

 

[whatashotbyseve]

I am terrified with whatever economic policy this government turns out.

They will probably do nothing, just as Rudd has done nothing except fly for the past 15 months.

 

[Gerald10]

Interest rates have got some going yet and so do the automatic stabilisers. Bringing forward infrastructure and other spending now as well as a stimulus package should be enough to avoid a prolonged recession.

Considering our foreign debt and budget balance we are well placed for further stimulus packages as long as Rudd isn't concerned about a deficit.

 

[Lentern]

No, instead of just giving people money we should do what we did in the thirties. Build something really big and hire alot of people to do it thus solving the problem of the lost jobs.

 

[zstar]

You can't stimulate an economy.

That's a severe flaw in keynesian though is this idea the government can't spend its way out of a recession.

It simply has never worked and never will work.

Such spending prolonged the great depression.

 

[CIV1501]

Yes if i get money lol.

But really we should just start another world war.

 

[mrcalkin]

waht did the last pacakage do nothing! Deinflation just got larger. RBA should do a massive cut and have 1% or 0% interest rates. thats the only way. Most people just save the moeny.

 

[CIV1501]

or that, fuck yeah lower interest rates too. more money for me

 

[samwell]

The problem they r tryin to solve is consumer confidence but when the package finally goes out most of it is either saved or goes to clearing debts. Interest rates could be the answer.

The unemployment rate may also spike as predicted in 2009 until mid 2010. We have to c if the US rescue package improves consumer confidence in the US in order to fairly judge Rudd's stimulus package. The most likely event is that congress wont pass the rescue proposal thus affectin the global economy negatively includin Australia in terms of the stock market.

 

[wagga]

This country has too much private debt and has had so for some time. By giving money to battlers to fritter away on plasma tv's, pokies, booze and smokes it is only prolonging the problem, and when our debt inevitably comes back to bite us in the arse it will only make it worse. Such a stimulus package is IMO only building a bigger house of cards.

We can choose to take some job losses now and reduce inefficiencies and stop idiots from living it up on credit, or we can choose to let the party continue, with a much larger hangover resulting when it all comes tumbling down when people realise that debt does in fact have to be repaid.

 

[jb_nc]

It's pretty stupid. Why don't they just increase the tax-free threshold or some shit? That would benefit people who are working for a living, not failures on welfare with 10 children.

Fucking honestly.

 

[enterspacebar]

It's pretty stupid. Why don't they just increase the tax-free threshold or some shit? That would benefit people who are working for a living, not failures on welfare with 10 children.

Fucking honestly.

Because Rudd's not that smart, that's why the first stimulus package came around in the first place.

 

[jb_nc]

They could also do shit like lean on the NSW government to cut pay roll tax also. *corruption*

 

[wagga]

It's pretty stupid. Why don't they just increase the tax-free threshold or some shit? That would benefit people who are working for a living, not failures on welfare with 10 children.

Fucking honestly.

The stimulus package was designed so that it went to those with the highest marginal propensity to consume, hence as much of it would be spent as possible, propping up the economy. Although in purely economic terms this makes sense, it ignores the side effects at throwing money at groups of people I'm betting have higher than average rates of alcoholism, smoking and problem gambling than average, and also higher levels of debt, hence a large portion of it would have gone towards servicing loans rather than spending.

In addition, it may have fostered resentment amongst people who work for a living.

However, the problem with tax cuts is that it is political suicide to increase taxes if need be, potentially acting to constrain government revenue in the future.

 

[jb_nc]

The stimulus package was designed so that it went to those with the highest marginal propensity to consume, hence as much of it would be spent as possible, propping up the economy. Although in purely economic terms this makes sense, it ignores the side effects at throwing money at groups of people I'm betting have higher than average rates of alcoholism, smoking and problem gambling than average, and also higher levels of debt, hence a large portion of it would have gone towards servicing loans rather than spending.

In addition, it may have fostered resentment amongst people who work for a living.

However, the problem with tax cuts is that it is political suicide to increase taxes if need be, potentially acting to constrain government revenue in the future.

lol... thanks for the essay brah

 

[rasengan90]

There has to be a better method of stimulating the economy than just throwing money at people, people are fucking retards and just blow it. The gambling and alcohol industries need no stimulation. $15 million of Kevin Rudd's economic stimulus bonus blown on pokies | News.com.au Top stories | News.com.au

 

[CIV1501]

lol notice how all the commies said no

 

[Foxodi]

Really depends how the money is spent. I could always go for Stimilus packages - but it needs to be targetted at the right people and spent in a productive way.

 

[enterspacebar]

LOL Financial Minister crapped himself on the ABC news when asked this question tonight.