Comments on: Kevin Rudd and the "D word"

By: Detective Vogelsang

Detective Vogelsang — Fri, 28 Nov 2008 09:00:39 +0000

Deficit schmeficit. That idiot cow aint even sacred enough to kill – pat the silly on dear on its rump as it goes out to pasture. Thanks for wasting our grass, beefy. We should have always been more concerned about monstrous private debt, the productivity (or otherwise) of that debt, and its % relativity to GDP.

Once we focus correctly on that, we’ll start to see what a future shock disaster area the Howard government was on ‘economic management’. They left us lumbered and teetering on the brink with monstrous private debt, concentrated in the wholly unproductive housing sector.

Responsible borrowing for future growth should concern no-one.

The Howard era was government by real estate agents. People will be waking up to that for years to come.

By: Ian

Ian — Fri, 28 Nov 2008 08:02:15 +0000

Surely we are mature enough to understand that sometimes you have to draw on the overdraft facility.

By: Adrien

Adrien — Fri, 28 Nov 2008 06:36:02 +0000

In short, Kevin Rudd’s personal approach to the economic situation as Prime Minister seems to revolve around straight talking, with a cautiously pessimistic bent.
.
And of course stuffing public cash in the pockets of the Mates. Maaaate!!!!

By: professor rat

professor rat — Thu, 27 Nov 2008 18:14:22 +0000

Turnbull’s rapidly becoming a cross between Robert Boyle and Brendan Nelson.
Noisy, ugly and ultimately irrelevant. And just when we needed an opposition to oppose Nanny statism, government Uber alles and ‘ The thoughts of Chairman Rudd’.
Socialism-with Australian characteristics being the worst of communism and the worst of capitalism. ‘ Conroyism’.

By: Mark

Mark — Thu, 27 Nov 2008 07:07:54 +0000

And no one has tackled my argument about people relating it to their own personal experiences, which has been my experience upon speaking to people.

The personal experience people will relate it to is the question of whether they believe the global problems impacting on economy are being addressed, and consequently whether their job security, finances and living standards are better than they would have been in the absence of government action. I don’t believe anyone will give a toss about a deficit in the abstract or some sort of Turnbull invented yardstick for “economic management” if that turns out ok.

By: hannah's dad

hannah's dad — Thu, 27 Nov 2008 04:37:57 +0000

Yes Howard C, the Essential Report result you cite of only 32% [I used that word 'only' carefully] being unhappy whatever with Howard does go part of the way to substantiating your statement re ” not everyone who voted for Rudd thought badly of Howard, …. the Howard years.” Although there is somewhat of a disconnect between ‘Howard’ and the ‘Howard years’. People could be unhappy with AWB, children overboard, workNOchoices etc and so on, without necesarily precisely relating those policies to Howard himself [which is what,apparently ER was trying to measure]. Who, after all, we were constantly told by the media was a wonderful leader, man of steel, principled politician, beloved by the world ‘s heroes [GWB et al], loved soccer, cared about kidlets blah blah.

But time will judge a little more harshly I suspect.

By: Howard C

Howard C — Thu, 27 Nov 2008 04:07:59 +0000

I agree with what Katz just said.

Now to clear up a few errors…

One in interpretation: the last time I checked, the budget was handed down in May, not in November. There won’t be a planned, announced, budget deficit until there is a budget handed down. So my 52-48 prophesy was with next May/June in mind.

The other in fact: according to a poll recently done by Essential Research, 68% of those polled did not have a unfavourable opinion of Howard as a Prime Minister. So, not everyone who voted for Rudd thought badly of Howard, and therefore by no great drawing of the bow, the Howard years. Many thought that the previous government had just run its race.

And no one has tackled my argument about people relating it to their own personal experiences, which has been my experience upon speaking to people.

By: Katz

Katz — Thu, 27 Nov 2008 03:52:11 +0000

It’s not a well educated argument, but it’s a difficult one to counter, and it has been the entire point of my posts. People aren’t going to say “Great, a budget deficit that will rescue the country! Hey, Ruddy, can I lend you some more money?” At best opinion will stay steady, which it may, because of the (already conceded by me on this blog many times) poor performance of the Opposition. But, in the crudest terms, I would expect 55-45 to become 52-48 within a month.

It’s pointless to argue about the future. I imagine that there are some bookies who are prepared to give you odds on that outcome.

I imagine that there are many retirees out there who’d be happy enough with the admittedly modest returns that they may make on Australian government paper, especially in comparison with how their nest eggs have been faring in the las year or so.

If that deficit is spent on job creation, the unemployed may be another constituency that may overcome whatever principled or prejudiced objections they may have to government deficits.

Much depends on how bad the coming recession/depression may get and on how well the government is seen to spend the money they may borrow.

By: Mark

Mark — Thu, 27 Nov 2008 03:45:04 +0000

I wish, hannah’s dad!

By: hannah's dad

hannah's dad — Thu, 27 Nov 2008 03:21:14 +0000

“Yes, many Australians do not remember the Howard years with fondness. Fortunately, almost all of them are here on this blog”

Congratulations Mark, it appears you have, wait a second, I’ll look it up, anywhere up to 6,545,814 voting Australians at this blog.
Wow, that has gotta be able to generate some advertising revenue!