iacm,
Yes.
What has happened to that type of leadership and spirit?
And on top of losing that we have lost the wool industry that used to involve Australia living off the sheep's back.

I made a suggestion in the supporting information to the Agricultural Competitiveness White Paper but all the talk about innovation and infrastructure seems forgotten, and now there is increase in GST instead, without any contact or apparent interest in productive export revenue generating opportunity.

Cash money has been drained out of pockets and purses of consumers to the point consumption is down and a lot of retail business is no longer viable.

There is need for government to encourage economic development instead of screwing consumers that presently remain.

JF Aus, once consumers have spent all their disposable income & gone into debt as well, the economy has nowhere to go but down. All this string & lever pulling in a desperate attempt to re-inflate a burst bubble is only delaying the eventual crash, deepening it.

ALL services industries are parasitic by nature & having only 3 UN-stable host or productive industries namely quarries, farming & tourism is suicidal. We need to accept the new normal, get consumers to spend even less, so that we can encourage more savings, more capital to invest in business.

More foreign investment is the last thing we need.

imacentristmoderate,

I agree with you there completely except for one point.

From my point of view involving world food sustainability, I think the best focus on solutions should be to encourage productivity involving good business and employment and prosperity and peace.
One way could be to create a whole new industry to engineer rehabilitation of the ocean and atmospheric ecosystems of this planet.

Evidence I see indicates productive solutions are required, to develop business and industry and properly paid employment, not unproductive new business such as school batts or costly non viable - reinvented tram systems. Viability is essential.

I think the world economy requires stimulus to put cash money in pockets and purses of all people, especially at the bottom of the economy where there are many potential and willing customers.

In other words, instead of giving in and looking downhill, look for opportunities that may arise from innovative solutions.

I think every money system in every country would welcome sensible economic stimulus and updating, to their benefit.

You really should stop posting on financial topics, Arjay. You have proven time and again that you don't understand even the most basic of concepts.

>>The world debt is 3 times the GDP of the planet and can never be repaid.<<

There is absolutely no logic behind that statement.

GDP is a figure calculated annually. Think of it in the same way as you see your annual salary. And then consider what happens when you borrow money to buy a house.

The backing behind the money you owe on your house is not your salary - that is simply a measure of your ability to repay on a regular basis. What actually backs up your loan is... your house.

If you default, the debt is repaid with your house, not your salary.

On a national level, the total value of Australia's residential property alone, let alone all the other assets such as our businesses, farmland etc. is three times the size of our GDP.

So you can relax on the default idea.

You also choose to ignore the fact that it is in the creditor's best interest to keep you solvent. Same goes for countries. There is little point in, say, China calling in its markers from all over the world, if that kills the market for its products. Which it would.

Your most tired mantra is, of course, this one:

>>There would be no need for tax increases if new money for growth was created debt free.<<

You have consistently failed, over many years, to explain how money - for any reason, let alone "growth" - can be created debt-free.

And I doubt you can today.

Give it up. You are an embarrassment to yourself.

You are an absolute joke Pericles. If what I say is false, why do you spend so much time trying to refuting it?

It times of universal deception, the truth becomes a conspiracy theory in your mind, but self evident to those of sound judgement.

Jim Rickards is a CIA and US Federal Reserve insider and even he knows this will end in disaster

Pericles for President!
A voice of sanity, in the wilderness of bluster and babel.

As the U.S. exempts its industries from virtually all environmental and public health constraints (including particularly the petrochemical industry) in search of growth and glory, could little AUS shine a light on a better way to sustain the happiness of its constituents and the wellbeing of the Blue Globe and all its superb inhabitants?
To see, to encapsulate, to live, the ultimate Dream?

Price Check! A temporary tightening of belts, a focus on essentials, the evolution of a 'vision', and no-one left behind or left idle?
Not a level playing field, but a field for all players!

A modest shave for the top-end, a scaling-back of 'benefits' (in childcare, etc) for the $100,000+ brigade, elimination of 'offshore' tax-haven 'perks' for business and for individuals, and a dedicated focus on sustainable long-term development, on jobs, jobs, jobs.
Now there's a team I could barrack for!

Increase GST? Mere tinkering with unclaimed baggage on the wharf, while the good ship Lollipop steams determinedly into a dying sunset!