Sunday, April 17, 2011 3:46 PM
Exactly Barnaby,
187.3 billion of Debt , and the end user (Auzzie tax payers ) will carry this burden . But didn't you know we have avoided the GFC with these strategy's according to Wayne Swan and 'Pinocchio' Gillard .
Yep its all 'gone away' and we're all doing well aren't we ???
Tax relief and 'real incentives' for small business is the key to the Australian economy , but after the Queensland Floods and Floods in other states , where are we going now ? the blind leading the blind.
I guess we are going to have to have another crisis to get some 'real action' and turn this 'fantasy' attitude' around.
As Steve Keen says on www.Debtwatch.com , we have an economy based on the overinflated prices on Housing (about to burst) and a oligopoly of 4 major banks who only loan money to home mortgages and speculations on the stock market , and who do not loan money to small business based on tax returns (which they should ) .
So let recap here:
1) we have a bunch of bureaucrats who are racking up the national debt to 186.3 billion (as you say largest section of these netting process to Public servant superannuation)
2)Labour is now trying to hack into the system with 'extra tax' (without solving the deb problem) just keep feeding the monster that's been created
3)The oligopoly of 4 major banks 'cartel together' to hold the nation at ransom effective charging 150% interest on home loans and credit cards etc (if you work this out as interest charged over full term of the debt) are contributing to the massive debt bubble (remember if banks are makings huge profits what does that mean ? hum now let me think hard ....hum , o yes we are all in serious DEEPER DEBT ! ) so the banks contribute to the debt bubble problem in the first instance (who gave the banks the license to operate like this in the first place ?)
4) in the meantime Small/medium Business are driven to the wall just trying to survive and the rural industry ? same story except worse
As I say Barnaby, I remember that night on Q & A when you quoted the bankruptcy and sovereign debt issues of Greece and all the Lobour Pollies 'poo harred' your commentary .
5) The USA is now 'quantitative easing' their cash/debt problems by madly printing more money and madly selling US bonds to China (China is madly stackpiling Gold etc)
Yeah, It's all going to be alright Barnaby isn't it ? phew, glad I can sleep well at night realizing the 'Gillard and co' are at the cockpit of the 747 flying Australia directly into the Nuclear plant site at Fukushima japan, I guess unless there is a crisis ,there wont be change !.
Keep up the good work Barnaby, your 'Voice' on these issues is well supported on the 'ground' and I recon that the Aussie battlers are going to revolt much like other parts of the world , when they realize that that 747 Called 'Australia' is headed straight for a terrible impact point regarding national debt,personal debt,housing prices bubble bursts, and down right lies and basic untrustworthiness of Flight captain 'Pinocchio Gillard' as Labour has no idea where they are going and what Crisis lies ahead.
Regards ,
Graham Healy
Small Business Owner