Australia's largest stock trading and investment forum Australia's #1 stock forum

The 2020 Budget (boomer trigger warning), page-2

First 2 Last

Share
Profile

Follow
beefarmer

15,562 Posts.

1425

06/10/20

19:44

Post #: 47892576
Share

Originally posted by FishSticks: ↑

So Fried Josh and Scotty “from marketing” are about to release the super budget to save the economy from themselves. Is anyone seriously looking at how off it’s head the current situation is?? Certainly Albo from “couldn’t get a job in marketing” said something forgettable on the 6 o’clock news but what does the HC community think?
My take on the situation and timeline of events:

The “silent Boomer majority” voted Scomo in on the fiscal promise of getting the budget back in black and not touching their golden credits, while ignoring the obvious black swan events on the horizon and wage stagnation and housing bubbles since the early 2000’s that the millennials inherited.

What has now clearly been shown to be a virus on par with the Flu hit. (“death from covid” vs “death with covid”) etc etc etc etc. Do some digging Boomers, you’ve figured out how to use facebook so it’s only a little leap forward to use the internet to engage in some critical thinking. (Something like Swiss Propaganda Research for well referenced source of info if your stuck. Don’t go down the conspiracy hole)

Fried Burger and Slomo decide their first solution would be to burn 100 billion on keeping people in service jobs that don’t exist anymore. Literally shutting down an economy while simultaneously paying people to work in it is on par with throwing money into a toilet because anyone with half a brain could see the logical outcome of that stimulus.
1. It won’t go back into the economy, because everything is shut. It will go to debt repayment, bill payment and probably spending online for more chinese crap.
2. As soon as it ends, those businesses are broke regardless and those same people are out of a job. So you spend an unfathomable amount of money to delay the inevitable by 6 months. Something most likely 2 generations of Aussies will be paying back. For nothing...

High off the smell of fresh ink running from the printing presses Fried Slomo & Co are now announcing a $200 billion dollar deficit and a whole lot of nothing to show for it. I guess when your throwing billions around it’s easy to loose track of hundreds of millions here, couple of million to my mate here or there whatever who carezz we iz In ThE pRiNtiNg BiZ now boys. But that’s another story although obviously pertinent. Corruption will be rampant and we the plebs will have nothing to show for it other than huge national debt.

POINTS OF INTEREST.
A week ago, these same legendz of the sport announced that they will be doing the exact opposite of what the Royal Commission on Banking advised and ACTUALLY totally deregulate lending. The obvious repercussions here is the ridiculous Syd Melb housing bubbles will get a second wind and the lucky millennial bagholders of million dollar 3 be 1 1950’s Asbestos crap shacks will be able to offload them to Gen Z’s for 1.2mill. Economy is Booming. Fire up the construction of new Crap Shacks.
Wages are still stuck in early 2000’s mode unfortunately, but instead of Wagyu and Shiraz gen Z should consider PAL dogfood & vinegar. And before we get the boomer/gen x story about paying 19% interest on their $100000 home. A little ignored reference is the ABS statistics that shows from 1980 to 1990 the median wage in Australia DOUBLED!
poor buggers. Must have been a tough decade.

Of note also was the raising of the debt ceiling. $1.1 TRILLION dollars baby!! Yeeeeha. Why would they need to do something so ridiculous unless they fully intend to take our national debt to the tripple platinum 1 Trilly for Rilly club. After all ceilings were meant to be broken!
I once heard an interesting analogy regarding a Trillion dollars and that was: If you spent a million dollars a day from the day Jesus was born to today you still wouldn’t have spent 3/4 of a trillion dollars. Itz a lotza money.

And final point of interest, these Geniuses of the game have the nerve to start talking up a local manufacturing industry after the federal Liberal government a few short years ago was the direct reason we stopped manufacturing cars in Australia. (To save 1 or 2 hundred million a year in subsidies). Mmmm what a bargain. 10000+ Aussies out of work to save what will probably be a months intrest payment on that yew beaut new debt.

I’ve probably been a bit hard on the Boomers but eh.. Some of yas are alright, lot of you have been blindly watching MSM and passively destroying the country for future generations while whinging about how lazy the kids you raised are.
Would love to hear some constructive analysis of the budget, state of current Aus politics and of course some off cuff boomer rants.
peace out, don’t take it too seriously. IMHO DYOR

Expand

Jobs jobs jobs.

Nothing else matters.

Borrow to the shyzen but get to work.

Listen to that Danny Andrews you loser. You are finished pal !

Last edited by beefarmer: 06/10/20
9 Upvote

Reply

Top Stories

SBW

Shekel Brainweigh investor presentation webinar – the future of retail automation

QML

Metallurgical testing shows saleable copper and pyrite from QMines' Develin Creek project

LAM

Laramide sniffs prime Kazakh uranium, with agreement over 6000 square km land position

BIT

HotCopper users blunt as Biotron sinks -35%; long-awaited COVID drug results same as placebo

CBA breaks trading record on strong day for Aussie financials

Week 36 Wrap: AI hype wave tested again; Oz per capita recession continues; AirTrunk’s $40B+ payday

As Nvidia cools, we're looking to Aussie AI

OCC

Orthocell kicks off collagen-based dental bone repair product sales in Canada; eyeing next stop Brazil

PRU

Perseus Mining boosts stake in Predictive Discovery to 19.9% as latter's flagship project stalls

RMX

Red Mountain Mining: record gold prices, two projects, two greenstone belts

There are more pages in this discussion • 141 more messages in this thread...

First 2 Last