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Entries Categorised as 'Politics'

The recession, economic stimulus and the stock market.

March 15th, 2009 · 53 Comments

Often economists, journalists and politicians use so much jargon when talking about the current economic situation that is is hard to follow what they are actually trying to say. Economists for example cannot seem to agree on anything except that they are legends in their own minds, journalists try and fumble through economic discussions and politicians simply try and convince us they know what they are talking about. The simple fact is much of the time all three groups talk utter rubbish.

The Recession and Rudd’s Plan 9 from Outer Space.

March 4th, 2009 · 9 Comments

Can the discussion surrounding the Australian economy get any more bizarre? Will economists continue to make vague observations? Will our politicians spend most of 2009 making nonsensical statements aimed to please the plebs? If you answered yes to all three questions then you are well prepared for the year ahead.

The national broadband debacle: all hail to Senator Conroy.

February 17th, 2009 · 23 Comments

Lost within the turmoil of the $42 billion federal government spend-a-thon and the so called “national economic crisis” has been the issue of the infamous “National Broadband Network”. After ridiculing the Howard government for taking too long to initiate work on this network, all Senator Conroy has managed to do is set things back a few years and we are still effectively nowhere near seeing work start on on this important national infrastructure project.

Bridges to somewhere: Infrastructure spending in Japan.

February 10th, 2009 · 6 Comments

It seems that the old bubble economy stories about Japan are doing the rounds again in business journals and finance websites these days as lazy journalists try to make comparisons between infrastructure spending in Japan during the 1990’s, and the economic stimulus packages being proposed in the U.S and other countries.

Rudd’s $42 billion dollars: the mother of all blunders.

February 6th, 2009 · 23 Comments

Let’s get one thing clear from the start, attempting to rush a massive spending package through parliament with the minimum amount of scrutiny is not good economic management. It simply means that the people charged with managing our national economy have been caught unprepared and for that single fact alone, they should be held accountable.

Rudd’s new direction: Bad news for investors.

February 1st, 2009 · 5 Comments

Kevin Rudd was elected largely because he conveyed an image to the Australian public of a man who would keep Australia on a steady course. His 2007 election campaign was all about convincing the public that he would follow most of the policies put in place during the Howard years but govern in a “nicer” way that would keep the trendy “cafe latte” types happy. However as the current economic crisis drags on, I sense that Kevin 09 might not be anything like the “lovable” Kevin 07.

Australia 2020 Summit: Fiddling while Rome burns.

January 24th, 2009 · 6 Comments

Does anyone remember Rudd’s great talk fest in April 2008 grandly called the Australia 2020 Summit? Did anyone get excited about the contents of the final report, complete with lovely graphics and pictures? Was there some careful analysis and discussion of the ideas raised during the Summit in the mainstream media?

The inflation genie and the deflation goblin.

January 21st, 2009 · 4 Comments

Well it seems the inflation genie is back in the bottle and that the bottle is back in the cupboard. Therefore our wise leaders in Canberra have in less than 12 months gone from fighting inflation, to trying to stimulate growth and save the Australian economy from recession. Of course none of the economic problems Australia faces today have anything to do with government blunders, it is all China’s fault.

A new year, more government blunders and a sleeping RBA.

January 15th, 2009 · 3 Comments

Well another year has begun and I am starting to wish it was 2008 again. If 2008 was the year in which stock market investors were humbled, then 2009 is starting to look like the year in which we will be humiliated. We are now half way through January and many people will tell you that if the market ends down in January it will also be down at the end of the year. So far things are not looking good.

Japan, China and the Australian Economy.

December 28th, 2008 · 17 Comments

One of the many misjudgements made by the Rudd Government in managing the Australian economy this year has been their almost fanatical belief that Australia would be shielded from the worst of the global financial crisis because of our trade with China. For the first part of this year in addition to the “War on Inflation”, Rudd and Swan were also pushing the line that our significant exports to China would keep the Australian economy ticking over nicely despite the problems brewing in the economies of the United States and the Eurozone.

Be prepared for the recession we might have avoided.

December 11th, 2008 · 5 Comments

Although Kevin Rudd stated some weeks ago that Australia would not slide into a recession it seems another one of his forecasts has exposed just what an economic dunce he is. Possibly only Wayne Swan can make worse assessments regarding the state of the Australian economy with Glen “I raised rates too far” Stevens (the Reserve Bank Governor) finishing of a trio of people who are best ignored. As I wrote a while back…we would be better served by getting a hobbit and wizard into the government economic team as soon as possible. (see The RBA,Swan and a Hobbit)

Politicians: we get what we deserve.

November 23rd, 2008 · No Comments

There is nothing like a global crisis to showcase the shortcomings of elected representatives all around the world. In the U.S. we have seen lawmakers grilling bankers for a crisis that was largely caused by the actions of Congress and the Clinton Administration whereas in Australia we have seen the government make a number of economic blunders.

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