It's Official - Labor's $50 Billion NBN is a Turkey!, page-25

Oh, who is building those expensive subs LOL to save a few LNP seats in Adelaide at a cost that makes the NBN look whimsical in terms of cost comparison. Even, makes what Rudd did, and his spending that even the RBA credits as getting Oz out of the GFC mess, look small.

Teslstra, what a laugh, they wanted to save their monopoly. And the LNP can be credited for changing the FTTH concept for a FTTN concept that makes our internet speed an embarrassment compare to the likes of minnows such as Romania (but as great economic managers managed to have whopping cost blow outs the fools).

Oh forgot, what was the LNP's slogan: "The adults are in charge".

Unless you live under a rock, falling interest rates is a sign of a very sick economy, fullstop. When interest rates get well below 1% that is a sign that interest rates as a stimulus to the economy is not working, full stop. (For people making deposits during a negative interest rate it means you are paying the banks to hold your money at a cost to you rather than receiving interest from the banks on your deposit.)

Australia's growth over the last few years has been driven by one great Ponzi scheme been house price growth backed by immigration. But once the Ponzi falls everything else falls with it and the next stop without government action becomes deflation. There is enough data showing an increase in people with negative equity and also people who have sold houses below purchase price and that is a bad sign for spending in the Australian economy.
https://www.perthnow.com.au/business/housing-market/perth-property-values-lag-as-recovery-in-sydney-and-melbourne-gathers-pace-says-corelogic-data-ng-b881339576z

https://au.finance.yahoo.com/news/half-new-sydney-melbourne-apartments-now-valued-purchase-price-205347988.html

https://www.abc.net.au/news/2019-05-02/negative-equity-on-the-rise-as-house-prices-continue-to-fall/11061780

Whenever the economy comes up all the LNP (and many on these threads) can say is it is Labor's fault or it would be worse under Labor etc LOL or lets talk about this and that but not the economy.

Who has been in government the last 6 years by the way and why is the economy such a mess. You would think with the rubbish posted on these threads that the ALP has been in charge last 6 years. So a recap of the mess:

1. Spiralling debt with no return since the LNP doesn't really like spending on infrastructure, they just like spending and not collecting revenue LOL. Then the latest tax cuts - especially the $1080 offset has the smell of Rudds $900 cheques that many posting here have bagged in the past. I think the $1080 might help the economy, but the economy is in far worse shape than when Rudd gave the cheque.

2. Love of Laffer means more govt debt, full stop. Laffer only works when you have other policies that discourage the benefits of tax cuts either flowing i.) to offshore multinational/non residents of Oz or ii.) into unproductive sectors like housing. A lesson on Laffer and budget deficits - refer USA since Reagan economics LOL.

3. Low interest rates and low inflation is a sign of a sick economy. Even the RBA is worried - the RBA has no further triggers to unleash if the economy tanks further btw so back to govt. The RBA is thinking about cutting rates again - what a laugh. How low do interest rates need to go to stimulate activity is the question without a change in government policy??.

4. Underemployment is rife despite the official unemployment rate been 5% because people want to work more hours and now the workforce is loaded up with casual and part time workers who want more hours (unlike the 1980s where full time work was the norm). If we had this unemployment rate in the1980s there would have been wages growth - i thas finally dawned on the head of RBA too to look beyond headline employment ABS numbers because according to the ABS work 1 hour a week you are considered employed (despite clearly you been underemployed).

Anyway carry on