An American, Australian ,Israeli, British "Judeo Christian Friendly " blog.

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Warning to all Muslims the world over seeking asylum and protection from the manifestations of their faith.
Do not under any circumstances come to Australia, for we are a Nation founded upon Judeo Christian Law and principles and as such Australia is an anathema to any follower of the Paedophile Slave Trader Mohammad's cult of Islam.
There is no ideology more hated and despised in Australia than Islam.You simply would not like it here.
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Those who can make you believe absurdities can make you commit atrocities.
Voltaire French author, humanist, rationalist, & satirist (1694 - 1778)
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Those who demand you believe that Islam is a Religion of Peace also demand you believe in Anthropogenic Global Warming.
Aussie News & Views Jan 1 2009
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"But Communism is the god of discontent, and needs no blessing. All it needs is a heart willing to hate, willing to call envy “justice."
Equality then means the violent destruction of all social and cultural distinctions. Freedom means absolute dictatorship over the people."
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Take Hope from the Heart of Man and you make him a Beast of Prey
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“ If you will not fight for right when you can easily win without bloodshed; if you will not fight when your victory will be sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival.
“There may be even a worse case. You may have to fight when there is no hope of victory, because it is better to perish than live as slaves”
Winston Churchill. Pg.310 “The Hell Makers” John C. Grover ISBN # 0 7316 1918 8
-------------------------------------------------------------------------------If language is not correct, then what is said is not what is meant; if what is said is not what is meant, then what must be done remains undone; if this remains undone, morals and art will deteriorate; if justice goes astray, the people will stand about in helpless confusion. Hence there must be no arbitrariness in what is said.
This matters above everything.
—Confucius
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'a socialist is communist without the courage of conviction to say what he really is'.
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Hontar: We must work in the world, your eminence. The world is thus.
Altamirano: No, Señor Hontar. Thus have we made the world... thus have I made it.
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Voltaire said: “If you want to know who rules over you, just find out who you are not permitted to criticize.”


--------Check this out, what an Bum WOW!!!!




When those sworn to destroy you,Communism, Socialism,"Change you can Believe in" via their rabid salivating Mongrel Dog,Islam,take away your humanity, your God given Sanctity of Life, Created in His Image , If you are lucky this prayer is maybe all you have left, If you believe in God and his Son,Jesus Christ, then you are, despite the evils that may befall you are better off than most.

Lord, I come before You with a heavy heart. I feel so much and yet sometimes I feel nothing at all. I don't know where to turn, who to talk to, or how to deal with the things going on in my life. You see everything, Lord. You know everything, Lord. Yet when I seek you it is so hard to feel You here with me. Lord, help me through this. I don't see any other way to get out of this. There is no light at the end of my tunnel, yet everyone says You can show it to me. Lord, help me find that light. Let it be Your light. Give me someone to help. Let me feel You with me. Lord, let me see what You provide and see an alternative to taking my life. Let me feel Your blessings and comfort. Amen.
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"The chief weapon in the quiver of all Islamist expansionist movements, is the absolute necessity to keep victims largely unaware of the actual theology plotting their demise. To complete this deception, a large body of ‘moderates’ continue to spew such ridiculous claims as “Islam means Peace” thereby keeping non-Muslims from actually reading the Qur’an, the Sira, the Hadith, or actually looking into the past 1400 years of history. Islamists also deny or dismiss the concept of ‘abrogation’, which is the universal intra-Islamic method of replacing slightly more tolerable aspects of the religion in favor of more violent demands for Muslims to slay and subdue infidels"

*DO NOT CLICK ON ANY SENDVID VIDEOS *


Anthropogenic Global Warming SCAM

Showing posts with label Australian economy Tanks. Show all posts
Showing posts with label Australian economy Tanks. Show all posts

Tuesday, June 02, 2009

Rudd's Australia: Australian economy tanks while Rudd spends,spends, spends

The world is noticing Comrade Rudd's incompetence.

The Australian economy tanks while government debt and spending zooms


Gerard Jackson
BrookesNews.Com
Monday 31 May 2009

If Obama and his lefty mates had half the brains they pathetically think they have they would be keeping a close eye on the UK and Australia. Obama's 'economic policy' of spend, borrow and print the stuff — and keep on doing it — was also the policy of the British Labour Government. Thanks to that economic stupidity Britain is now on the brink of financial ruin and the economy is expected to contract this year by something like 4 per cent. The Australian economy is also continuing to contract despite Prime Minister Rudd's outrageous spending binge that has sent the country deep into the red for years to come.

The problem — as always — is one of lousy economics. While our economic punditry focus on consumer spending and fiscal policy they have completely overlooked the monetary situation. All the inflation indicators have been slowing since last September while M1 has been basically flat since May 2009.

Moreover, the decline in the Reserve's assets has accelerated. The latest monetary figures (they are always about two months behind) show that from February to March M1 actually contracted. In short, monetary policy is very tight.

When monetary policy tightens this should result in a slowdown in production, falling investment, rising in unemployment and a contraction in import volumes. (Westpac calculates that import volumes dropped by about 14 per cent over the Q4 and Q1). The latest figures from the Australian Bureau of

Statistics show that spending on equipment fell by 10.8 per cent in the March quarter. This is the biggest drop since this survey started in 1987. To get a better idea of how bad the situation is we need to look at manufacturing figures. The May Australian Industry Group report for April revealed that manufacturing had been contracting for eleven straight months. Australia is clearly in recession and has been for sometime.

Regardless of what the economic commentariat believes, manufacturing is a key indicator — not consumer spending. Focusing on the latter leads to confusion. Rudd's $8.4 billion cash handout represented about 3 per cent of GDP. Not surprisingly retail sails jumped by 1 per cent in the first quarter. We could get a repeat performance when most of Rudd's additional $12.7 billion injection is released in the second quarter.

As I have stressed many times before, consumer spending is only about one-third of total spending. Failure to recognise this fact comes from the fallacy that to include spending between firms in the national accounts would be double-accounting. (Businessmen are genuinely surprised when I tell them this).

Therefore it is not consumer spending but total business spending that should be monitored. Once this is realised it becomes obvious that the Australian economy went into recession last year and is still tanking. There is no way that running down the surplus and increasing government debt could have stopped this process. And there is certainly no way these policies can reverse the economy's direction. Given the Reserve's monetary stand fiscal policy in the form of greater government spending is powerless.

Treasury and Reserve officials are at a loss to explain the situation, something that Ric Battelino, the deputy governor of the Reserve Bank, made clear when he asserted that the principal reason for the difference between the sickly state of business and the current state of the housing market is the significant difference in borrowing costs, with the variable mortgage averaging 5.16 per cent while — according to Alan Kohler of the Business Specator — "the current borrowing rate for non-financial companies is 7.29 per cent".

However, since similar differences in borrowing rates exist in the US and Europe the Treasury can scarcely assert with a straight face that Australia occupies a unique position in this respect. The difference is easily explained. Firstly, as already noted, recession strikes at manufacturing first* and hence its effects will be first felt in business spending and not in consumption. In fact, consumption can continue to rise even as a recession deepens. This happened during the recession that Bush inherited. This means that any differences between borrowing rates for business and borrowing rates for housing are irrelevant.

Secondly, the government has used subsidies and low interest rates to maintain the level of Australian house prices regardless of business conditions. It's true that the US has done likewise but unlike America's utterly reckless Democrats neither the Labor Party nor the Liberal Party bullied lending institutions into giving mortgages to people who were patently unable to afford them.

Furthermore, several things need to be noted about housing. There is no housing market as such. What we have are a very large number of housing markets.

Houses in Endeavour Hills are not the same as houses in Toorak. Even within suburbs one can find a number of housing markets. Finally, it should be obvious that one cannot compare one country's 'market for housing' with that of another. Supply and demand conditions will always differ.

Mr Battelino is self-evidently clutching at straws.

*Housing too can be indicator because of its sensitivity to changes in interest rates. However, this sensitivity can evidently be blunted where mortgage rates are kept low.

Gerard Jackson is Brookesnews' economics editor

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