Here's why liberal got in (1 Viewer)

[Cyph]

Apologies if this has already been said in one of the other numerous threads about the election, but anyway

It's all to do with how the fucking economy is running... which really has not that much to do with the government - all economies go through booms/recessions, with our economy being largely a flow on from how the US economy is running. It's no coincidence how the ASX has performed IDENTICALLY to the NASDAQ and other major markets.

Also, the interest rates are set by the fucking RBA, not the government! haha

The major goals of economics are conflicting... economy growth for low unemployment is induced by low interest rates to encourage consumer spending... after a while, the economy can't sustain the growth over an extended period of time and inflation will get out of control, so the interest rates are jacked up... consumer spending declines, unemployment rises.

For John Howard to claim interest rates and unemployment levels are at an all time low due to the liberals being in power is bullshit and the fact that people are fucking stupid

 

[Ziff]

Apologies if this has already been said in one of the other numerous threads about the election, but anyway

It's all to do with how the fucking economy is running... which really has not that much to do with the government - all economies go through booms/recessions, with our economy being largely a flow on from how the US economy is running. It's no coincidence how the ASX has performed IDENTICALLY to the NASDAQ.

Also, the interest rates are set by the fucking RBA, not the government! haha

The major goals of economics are conflicting... economy growth for low unemployment is induced by low interest rates to encourage consumer spending... after a while, the economy can't sustain the growth over an extended period of time and inflation will get out of control, so the interest rates are jacked up... consumer spending declines, unemployment rises.

For John Howard to claim interest rates and unemployment levels are at an all time low due to the liberals being in power is bullshit and the fact that people are fucking stupid

No, it's beacuse the Labor party didn't persecute their cause well enough in regards to these lies

 

[neo o]

Other people aren't idiots. You however, are an idiot. Maybe you should check your economics textbook.

1) Its a little tongue in cheek saying that the Aussie dollar always tracks the US. We've had growth for the past 14 years, they've been in recession. Oh wait that 14 years of consecutive growth is just a fluke isnt it.

2) Sure the interest rates are set by the RBA however government policy can influence inflation which makes the RBA change interest rates. For example both spending, and Labors proposal to centralise the labor market - which would have caused productivity increases to not be tied to real wage increases and thus would have caused cost push inflation.

3) The Liberals initiated the Workplace Relations act which tied productivity to real wage increases - and is probably the main reason why inflation (and thus interest rates) AND unemployment are so low.

Get your facts straight before you call other people idiots..because maybe you are the idiot..pronto?

 

[neo o]

Also you should note that due to good economic management both inflation and unemployment are low.

 

[Cyph]

Other people aren't idiots. You however, are an idiot. Maybe you should check your economics textbook.

1) Its a little tongue in cheek saying that the Aussie dollar always tracks the US. We've had growth for the past 14 years, they've been in recession. Oh wait that 14 years of consecutive growth is just a fluke isnt it.

2) Sure the interest rates are set by the RBA however government policy can influence inflation which makes the RBA change interest rates. For example both spending, and Labors proposal to centralise the labor market - which would have caused productivity increases to not be tied to real wage increases and thus would have caused cost push inflation.

3) The Liberals initiated the Workplace Relations act which tied productivity to real wage increases - and is probably the main reason why inflation (and thus interest rates) AND unemployment are so low.

Get your facts straight before you call other people idiots..because maybe you are the idiot..pronto?

1 - when did I say the Aussie dollar tracked the US? Don't put words in my mouth. Look at graph, it shows what I said - the Australian economy is largely dependent on other ecnomies.. growth rates may not be the same, but you can see how they are identical.

LOL, your argument is so ignorant anyway... The Aussie dollar is simply determined by supply/demand, you realise? That would be people who want Australian currency and people who want US currency... it does seem to make sense that more people want US currency than Australian currency since they have a much larger population and when things like investments take off, they take off in a much bigger way than what investments would in Australia - look at the share prices of stocks on NASDAQ compared to those on the ASX - much higher in price... there is great leverage to be gained by investing in a bigger pool, especially when demand is high. (basically, the volume of NASDAQ far surpasses the ASX would have summed it up).

The labour party also laid the ground work for the 14 years of growth we've experienced, liberal have just rode all their hard work and put it down to better management of the economy...

2 - when Keating/Labour got voted out in '92, he said it was 'the recession Australia had to have'... fucking idiots didn't think so, thought the economy could just be sustained in its current state.

Noticed that a large value meal at Maccas used to cost $4.95 and now cost $5.95? People don't put it down to inflation, or poorly managed economics as you would think, they just blame Maccas for it - same for everything else that goes up due to inflation.

3 - there are a couple of things that cause inflation.. one being when a business is close, or has maximised it's profitability, the only way to increase it's profitability is to increase prices... this has a flow on effect as consumers are now paying more than what they did previously, so demand higher wages to be compensated for it... the liberals will destory workplace relations... people will not have award wages, they will be signing enterprise bargaining agreements if they want a job, not cool.

the govt. doesn't manage the economy that much, it hires economists to do so, don't be too quick to give them undue credit. You think that inflation is low with unemployment low? LOL... for unemployment to be low, the economy must be growing, creating new jobs... as the economy grows, inflation rises... it's unavoidable, it's one of the reasons the growth must be slowed or stopped, through jacking up interest rates, to reduce consumer spending, increasing unemployment levels... as I said before, you noticed the inflation in stuff over the years like your food such as at Maccas?

 

[spell check]

there was a pretty persuasive social researcher type guy on the 7:30 report recently, he was saying that Howard had the election in the bag indefinitely 6 months ago, and even as far as 2 years ago it was highly unlikely they would be voted out of government.

nothing to do with the campaigns, or the recent policy announcements, or any of the propaganda.

 

[Cyph]

there was a pretty persuasive social researcher type guy on the 7:30 report recently, he was saying that Howard had the election in the bag indefinitely 6 months ago, and even as far as 2 years ago it was highly unlikely they would be voted out of government.

nothing to do with the campaigns, or the recent policy announcements, or any of the propaganda.

he had it in the bag because... ?

 

[Bone577]

Just a tidbit of information, the government can control interest rates AND currency exchange rates.
There is nothing that sais they can't simply legislate these changes. Everyone seems to think you can only manage a country in a laizzes-faire capitalist way.

Im not advocating any systems, im just saying, the government CAN control things through legislation, not that this is realistic or smart (or stupid for that matter) just thought it would be interesting for you guys to know.


*runs away before he gets flamed for allegedly advocating communism or something*

 

[Cyph]

The government can make all women get down on their knees and give blowjobs to any man who wants one too....

 

[Ziff]

Just a tidbit of information, the government can control interest rates AND currency exchange rates.
There is nothing that sais they can't simply legislate these changes. Everyone seems to think you can only manage a country in a laizzes-faire capitalist way.

Im not advocating any systems, im just saying, the government CAN control things through legislation, not that this is realistic or smart (or stupid for that matter) just thought it would be interesting for you guys to know.


*runs away before he gets flamed for allegedly advocating communism or something*

Ever heard of the Reserve Bank of Australia? They sort of gave it the independence to set interest rates...

 

[spell check]

he had it in the bag because... ?

basically people are relatively comfortable, and it would take some kind of major discomfort for them to want to change government

he noted the fact that in an environment where people prefer to watch home renovation shows rather than current affairs programs, it would be highly unlikely that the government be removed from power.

 

[Ziff]

Howard makes the majority, who are ignorant, comfortable. He comforts them in regards to their past e.g. black armband v. white blindfold versions of history. He comforts them in the present by lying to them and telling them "oh it's all ok". He comforts their future "Latham will make interest rates go higher! Only i can protect you!" At the same time he asserts he is the only one capable of protecting Australia's national interests, best interests, interest rates, defence and so forth and he has run a very good propaganda campaign around it.

 

[Cyph]

basically people are relatively comfortable, and it would take some kind of major discomfort for them to want to change government

just wanted you to point it out

 

[spell check]

just wanted you to point it out

yeah i know, it would be nice if i could remember more

i just thought the home renovation show comment was good

 

[neo o]

i dont think you are going to convince neo : \...he is set in his ways... neos liberal liberal government is perfect...labor governments never did anything positive or right

Dont generalise.

Labor initiated alot of those reforms.

 

[zahid]

Labor initiated alot of those reforms.

WOW neo_o i am proud of you for accepting that.

 

[neo o]

1 - when did I say the Aussie dollar tracked the US? Don't put words in my mouth. Look at graph, it shows what I said - the Australian economy is largely dependent on other ecnomies.. growth rates may not be the same, but you can see how they are identical.

Post editing 101.

Obviously Australia is dependant on global economies. Its called globalisation. But what about the recent global economic downturns and the asian crisis before that...Australia still clocked growth. Are you going to attribute that towards good economic management or a fluke? 14 years of growth man...

LOL, your argument is so ignorant anyway... The Aussie dollar is simply determined by supply/demand, you realise? That would be people who want Australian currency and people who want US currency... it does seem to make sense that more people want US currency than Australian currency since they have a much larger population and when things like investments take off, they take off in a much bigger way than what investments would in Australia - look at the share prices of stocks on NASDAQ compared to those on the ASX - much higher in price... there is great leverage to be gained by investing in a bigger pool, especially when demand is high. (basically, the volume of NASDAQ far surpasses the ASX would have summed it up).

You call my argument ignorant? Do you realise that the AUD is the sixth most heavily traded currency in the world - because of speculators etc. Maybe if you actually dealt with my points I could..Oh wait, you cant think of an argument against them.

Oh btw, wtf is your point there?

The labour party also laid the ground work for the 14 years of growth we've experienced, liberal have just rode all their hard work and put it down to better management of the economy...

The government has been in for a few terms now. They are responsible for quite a bit of growth/policy etc - though I wont argue that Labor INITIATED some of the policies.

2 - when Keating/Labour got voted out in '92, he said it was 'the recession Australia had to have'... fucking idiots didn't think so, thought the economy could just be sustained in its current state.

Actually the economy was growing too fast. They didnt know better then, and kept upping interest rates. After a while the economy just collapsed.

Noticed that a large value meal at Maccas used to cost $4.95 and now cost $5.95? People don't put it down to inflation, or poorly managed economics as you would think, they just blame Maccas for it - same for everything else that goes up due to inflation.

Do you have a point here?

3 - there are a couple of things that cause inflation.. one being when a business is close, or has maximised it's profitability, the only way to increase it's profitability is to increase prices... this has a flow on effect as consumers are now paying more than what they did previously, so demand higher wages to be compensated for it...

Incorrect. They increase profitability by cutting costs and becoming more efficient. That supply and demand you crapped on about earlier - what would happen if firms just randomly upped prices? If demand was elastic hypothetically.

the liberals will destory workplace relations... people will not have award wages, they will be signing enterprise bargaining agreements if they want a job, not cool.

1) I challenge you to explain why it isnt cool.

2) If you read my post youd realise why the Workplace Relations Act was good.

the govt. doesn't manage the economy that much, it hires economists to do so, don't be too quick to give them undue credit.

Oh right, yeah of course. Governments do nothing, all their policies are formulated by consultants.

You think that inflation is low with unemployment low?

Well lesse, inflation is at 2.5% and unemployment is 5.5% ie: record low levels, so umm.. yeah I do.

LOL... for unemployment to be low, the economy must be growing, creating new jobs... as the economy grows, inflation rises... it's unavoidable, it's one of the reasons the growth must be slowed or stopped, through jacking up interest rates, to reduce consumer spending, increasing unemployment levels... as I said before, you noticed the inflation in stuff over the years like your food such as at Maccas?

Eco textbook 101. Look up stagflation in the index. There's also an inverse form.

 

[neo o]

WOW neo_o i am proud of you for accepting that.

Labor was in for quite a few terms. :uhhuh:

 

[Bone577]

Ever heard of the Reserve Bank of Australia? They sort of gave it the independence to set interest rates...

Im not saying that it is done in Australia, or even smart.

The government also gives power to councils to make local bans and such, they can take that power back quickly.


All i wanted to point out is that they CAN legislate interest rates and such. There is nothing in the constitution saying they can't. I knew someone would try to reply to my little fact, despite how clear i made myself on the matter.

 

[neo o]

Im not saying that it is done in Australia, or even smart.

The government also gives power to councils to make local bans and such, they can take that power back quickly.


All i wanted to point out is that they CAN legislate interest rates and such. There is nothing in the constitution saying they can't. I knew someone would try to reply to my little fact, despite how clear i made myself on the matter.

Sigh, its nothing about legislating.

Its all about creating policies that influence inflation and therefore influence interest rates. *BANGS HEAD ON KEYBOARD DAMN YOU PEOPLE*