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  3. There is now a Managed funds topic. Enjoy.

aus debt now higher than ireland pre gfc.

  1. Hairyback

    18,659 posts.

    All looking good according to labor.

    Unfortunately australia doesn't share labors view.

    Lol not long now

  2. moondoong

    20,577 posts.

    Let's hope and pray we can vote in a government that steers the Titanic around before we hit the iceberg.

  3. TheColonel

    5,354 posts.

    Duddenomics - just throw cash at anything that moves

  4. Hairyback

    18,659 posts.

    Don't see any lefties rushing in to tell me I'm wrong.

    This is life with labor.

    Lol not long now.

  5. The Ace

    9,217 posts.

    I'm looking fwd to partying like its 1999 on Election Day.

    I'm doing 4 hours at the local polling booth for The Coalition.

  6. TheColonel

    5,354 posts.

    So am I. I would run coast to coast for the LNP.

  7. JonnoH

    5,841 posts.

    "Don't see any lefties rushing in to tell me I'm wrong."
    You haven't actually said anything. gross debt? net debt? private debt? public? nominal or real? in AUD? When prior to GFC, 20 years prior?

    stupid thread. less haste some info

  8. Hairyback

    18,659 posts.

    2007/8 johnnoo. Show me the money.

    Prove me wrong.

  9. Glug

    5,916 posts.

  10. JonnoH

    5,841 posts.

    Don't give us your birth date, give some details as to what the hell you are talking about. I've given you about 10 clues to get you thinking (if possible).

  11. Hairyback

    18,659 posts.

    That's some of it glug but waiting on jhonnoo.

    More later.

    Lol not long now.

  12. Hairyback

    18,659 posts.

    So what's your take on that glug?

  13. Hairyback

    18,659 posts.

    Still look forward to all the economists to tell me different.

  14. TheColonel

    5,354 posts.

    Not a single one. Labor have lost this argument. In fact, Labor's is really a spending problem and debt is the dire consequence. They are fiscally irresponsible and anti business. Labor need to be given the boot on September 7.

  15. Glug

    5,916 posts.

  16. Dear Glug,

    Why don't you compare the debt level to tax revenue after all we can't sell the country and repay the debt like the leftist reasoning suggests? We can only pay our debt out of government owned asset sales and revenue. The false leftist reasoning of 'it's like owing $10,000 to the bank on a $100,000 house' is paltering and you know it comrade.

    In any event, why would we want to pay $12 billion in interest on the borrowed money? With no debt or little debt we aren't wasting money- it's not as if you can point to well invested projects where the borrowed money has been spent.

  17. Glug

    5,916 posts.

  18. JonnoH

    5,841 posts.

    Why don't you compare the debt level to tax revenue after all we can't sell the country and repay the debt like the leftist reasoning suggests? "
    Howard and Cstello did.

  19. TheColonel

    5,354 posts.
  20. JonnoH

    5,841 posts.

    Makes me laugh every time you post your silly little graphs in nominal dollars. You think you are onto something. lol

  21. cgt2009

    11,764 posts.

    There has to be some point to this thread.

    Ireland has a population of 5 million, we 24 million.

    Ireland an area of 84,000 km2 vs our 7,700,000 km2.

    Wouldn't Canada be a better comparison?

  22. JonnoH

    5,841 posts.


    Irelands GDP has fallen about 10% since the GFC I believe whereas Australia's has increased about 13% since the GFC

    Ireland's economy was built on cheap company taxes which saw all sorts of international banks and other organisations set up there to take advantage of it. When the music stopped playing they packed their bags and went home leaving the govt guarantee costing more than was bargained for. The economy tanked.

    Australia's banking system came through the GFC with flying colors and our government bonds are AAA rated with a stable outlook. One of only 8 countries in the world.

    24% debt to GDP after the GFC is a million times better than before the GFC.

    Your "analysis" of debt levels over different periods and countries is next to useless imo.

  23. TheColonel

    5,354 posts.

    Its just like Labor comparing our debt levels to other developed countries, although Ireland is more relevant as Hairy points out.

    Leftards have selective comparisons, that's for sure..

  24. Glug

    5,916 posts.

  25. TheColonel

    5,354 posts.

  26. JonnoH

    5,841 posts.

    The comparisons that the "leftards" make are at least comparing over the same timeframe and among many similar OECD countries.

    The ritards (can swap the i for an e at your leisure) compare a figure from 6 years ago pre GFC in ONE basket case country to our AAA rated with a stable outlook and low yield figure some 6 years after the crisis.

    24% post GFC is a million times better than 24% pre GFC. Just as AAA credit rating is far better post GFC than pre GFC.

  27. TheColonel

    5,354 posts.

    Remember - that is Costello / Howard's AAA rating. They created circumstances to put Australia well ahead of the curve.

    Not Labors... promised surpluses, delivered failure.

  28. JonnoH

    5,841 posts.

    Only had a AAA rating from 2 ratings agencies under Costello.

    We now it from the 3 majors for the first time in our history. With a stable outlook!

    P.S. You need to clean your teeth,

  29. Glug

    5,916 posts.

  30. Reaper11

    6,731 posts.

  31. Alan Partridge

    17,287 posts.

    Glug you say:

    "Australia's debt has increased on average around 2.5% per year for the last 6 years. "

    the graph you posted shows government debt to GDP was 9.7% in 2008 and 22.9% in 2012

    so...is your calculator broken?

  32. Glug

    5,916 posts.

  33. Mozart56

    9,413 posts.

    Simple question for Rudd and his sycophantic disciples.

    "When will the debt be paid off"?

    We have a target for 'surplus' in 5 years time of $4 billion .. but when will the debt be paid off? If Labor were to achieve that surplus every year it would take 100 years to pay it off wouldn't it? Is the target to pay off the debt 2113?

  34. Glug

    5,916 posts.

  35. Fat Bloater

    11,849 posts.

    The problem with the Labor-Greens is they add to debt like they're spending other people's money.

    You will be paying for years to cover Labor's waste with interest on top.

  36. JonnoH

    5,841 posts.

    Simple answer for you Mozart56.

    In the absence of any other policy changes, Treasury suggests 2021 from memory. Maybe a couple of years later.

    Structural savings work wonders, much like compound interest.

  37. Alan Partridge

    17,287 posts.

    so Glug what you're saying is Australia's government debt to GDP ratio has increased 129% since 2007? the way you portrayed it debt was only increasing 2.5% per annum. Maybe it was your syntax or my lack of comprehension.

    We can agree on my figures above though?

  38. moondoong

    20,577 posts.

    So Glug thinks we should be careful how the debt is managed, how much is added from here on in, and pay it back in a timely manner.

    Too bad he/she didn't show the same concern over the last 6 years........

    Thanks for nothing Labor, you've blown the cash and now we're hamstrung.

    Whoever wins government will be severely weakened because of what these clowns have done to us over the past 6 years.

  39. bang57

    1,250 posts.

    some body should be held to account
    Treasury and the politicians should be brought before the people and made example of so as to stop this rot

  40. Glug

    5,916 posts.

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