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Time for sensible economic debate

Posted by: 2UE | 6 December, 2012 - 9:11 AM
Time for some non-political rational economic debate?

Our economy is the envy of the world, but as the economy slows, do we really need to be driving toward a manufactured surplus? John Stanley says we need to listen to sensible economic debate, without politics.

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Blog comments Your Say

  • @James W; come off it what are you talking about with all that crap. The stupid failed "IMF" did not even see Labors' so called GFC global financial crisis coming when many many others could see it coming years before and prepared for it!! Me included dummie boy!!

    Claudia Friday 7 December, 2012 - 8:31 PM
  • The small businesses are suffering for some time now. If they are not looked after, our economy will take a nose dive.

    yusuf Friday 7 December, 2012 - 2:35 PM
  • Claudia, we need to sell something. Now we are selling resources because there is a demand for them. Bear in mind our service industries sell 5 times as much in a year, in $ value terms, as our mining sector does. In Howard's day we sold CBA, CSL & 50% of Telstra (for up to @ $9.50 a share) because there was demand for them. You want to be selling what there is a demand for, 'Good Business 101'. IMF has very recently reported Australia's debt has just passed $150Bn for the first time (I'd guess they know better than you). That equates to 10% of GDP ($1,500Bn), or about 48% of the annual 'tax take'. I would suggest there are many of us here that have borrowings that exceed 48% of our annual incomes. Given you that you don't know what our debt position is, I expect you would have no idea what our asset position is either, so you are not in any position to declare us near bankruptcy. Sovereign debt of $7,000 per man woman and child,for us, is hardly bankruptcy territory.

    James W Friday 7 December, 2012 - 11:01 AM
  • @John Stanley is spot on once again. He is the shining beacon in 2UE among all the doom and gloom prophets.

    There is no doubt our economy is in a very healthy state. However, it cannot remain insulated from the world for too long. Sooner or later there will be some impact on our economy and arguably it has started already. I am confident that we have the capacity to weather the storm and emerge stronger and remain the envy of the world for a long time to come.

    For someone so astute I can't understand why Wayne Swan had to make the unequivocal declaration of a surplus. I believe he will deliver it but I am not sure whether it is in our national interest to do so. At a time when interest rates are so low, this is the time to borrow and invest in the future. This was the time to make up for all the lost opportunities during the lazy Howard days. What good is a surplus if it is followed by a slow economy?

    Terrence Thursday 6 December, 2012 - 10:54 PM
  • James W; what you really mean is that our $$$mining quarries are Labors' "envy of the world". Without them we would be bankrupt. It is not hard to be Labors' so -called "envy of the world"... these days, thats why all the envious illegals are fronting up here with no passports-90% thrown away!! The fact is the only countries envious are the failed bankrupt socialist-policy countries, chasing a handout from us. Like chaotic Greece which the Labor government donated a few lazy $billion of our borrowed chinese money, cranking up Labor's debt towards $300 billion, mostly wasted money. Envy of the world, as if.

    Claudia Thursday 6 December, 2012 - 5:13 PM
  • Pedro, of which 'worrying economic situation' do you speak? Did you read the first line of this blog - 'Our economy is the envy of the world'?

    James W Thursday 6 December, 2012 - 4:37 PM

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