Hi Simco, See what you mean, however there needs to be a point of clarification. During the period of the China/India economic phenomenon that resulted in a boom in demand for our raw materials ie commodities/agricultural, a drovers dog would have been able to accumulate surpluses. The point is while there was a surplus accumulating and tax cuts being given mainly to high income earners, the infrastructure and skills needs of the nation were clearly neglected and now in a more competitive global environment we are going to suffer because of Peters and Johns neglect.
Given that USA demand for China manufactured goods is currently in decline it follows that demand for OZ raw materials is also going to decline. This means we need to stimulate commerce some other way until American and Chinese demand picks up. The government is focusing on giving industry a lift with much needed assistance such as the vehicle industry and also to pensioners and families through their lump sum payment which will probably save hundreds of thousands of jobs that would have to go if these billions were not circulating through the economy. Also next year tax cuts will come in which will give our economy another boost and hopefully save us from a recession.
All in all ticks to to the Government so far during this global financial turmoil. I note also that Gerard Henderson has called RUDD's decision on carbon emissions as responsible given the state of the economy. Given Henderson's conservative credentials that certainly is a big tick.
Having said that given the companies that have gone broke in my share portfolio I welcome the $2000 from RUDD by virtue of my carers allowance. Anyone, in a carer role will understand we do it joyfully and expect nothing for our efforts, often in difficult circumstances and in doing so also save the taxpayer heaps as the alternative would would be institutionalised full time care.
Sorry Simco have gone all over the place and will close with a wish for a safe and pleasant Christmas period to all HC posters including the mods.
