Oh i would say it in front of him. realist?? What nasty words? Where is there any inaccuracies in any of the postings. Is he not puffed up?
Does he not constantly sneer? Is the HR Nichols society not about screwing the worker into the ground? Is the unlawful invasion on dishonest grounds of a sovereign country not costing us a motza? Has a previous Liberal PM and Minister not told the world how ashamed they are? etc etc, Realist they are the worst Gov. this country ever had and they have as thier Parliamentry companions the worst oppossit ion we have ever had.

i Agree the present Administration in Camberra is the Worst we have seen for a long time but unfortunately the Opposotion is not Effective and the People in general are very Gullible .

OK Peter Costus Fellow.Show us some real courage.How about some real tax reform.Simplify the whole system to make our businesses more competitive.Both the State and Federal Govts are killing us with red tape,regulation,tax,and litter gation lawyers,that create markets for insurance companies to destroy productivity.

How about some real reform of the Public Service to stop all this waste we experience in NSW;and while we're on the topic,I can't believe the nonsense that has eminated from Peter Debnam's mouth today.He was asked the question by business person to name three things he would do to set this state straight.Peter Debnam attacked the questioner.He virtually told him that ordinary folk don't have an interest in politics and to get a life and don't ask such silly questions.

Well the alarm bells are ringing in our state and those few words of arrogance have virtually sunk the Liberal's chance of power in NSW.If you cannot listen to the people then we will vote for lame independants rather then being treated like mushrooms.

Mr Costello

Thank you for your article.

Please do something about the Mental Health/Illness budget. The current situation is apalling and suggests to me that yourself, the Prime Minister and your colleagues are in an extremely deep denial continuum.

1:4/5 people are likely to develop a mental health problem during their lives. You know that as well as I do. Politicians and their families are not excempt from mental illness. If you or a member of your family requires scheduling or regulation because of a severe mental illness episode, the private health sector will be of no value to you. You will be taken against your will (more than likely)to a public psychiatric facility. That is mental health and the law. You and your family will not be exempt.

Mental illness has no boundaries.

Please re-think the deinstitutionalisation process. The 1984 NSW Richmond Inquiry and related recommendations were a disgrace and remain so - which of course have been adopted with variations in all states.

People with long term mental illness need asylum (a place of safety). No longer do they have places of safety. They are on the streets and homeless, or they are in prisons. Few are with family or friends - since their loved ones usually do not have the money or skills to help them. This is a national disgrace.

Community mental health resources are scant. Simply, this is just not fair.

Clearly, there are no votes in relation to mental illness. But, heaps of votes in trebble by-pass operations, IVF and RU486 - each of which in my view, are mostly selfish options in comparison to people who have no choice about being landed with a severe mental illness.

It is good to see you on OLO. I hope that you reply to at least some posters - especially me! I think the GST is bloody awful - and the IR laws are a bloody disgrace.

Cheers
Kay

PS: I am broke. My husband was retrenched the day he returned from Christmas holidays. He is still looking for work. Any chance of a loan Peter?

"Yes yes I know about elaborately transformed manufacturing growth exports etc, but our exports are underpinned by a removalist industry - shovelling Australia into ships and the income directed to an overblown, low skill, low value added real estate industry. If you like, exchanging resource for bricks."

Sadly, the Federal government's "resources for bricks" export strategy has not attenuated the worsening of Australia's chronically high current account deficit and the accompanying high levels of net foreign debt. Australia's "miracle economy" is only being sustained by the goodwill of foreign creditors. If the current trend continues unabated, we will exhaust our ability to finance the gaping current account deficit, and that vital foreign goodwill will quickly dissipate. By that stage, Peter really will be singing for God's help (and redemption).

Australian Miracle or Mirage?

Part 1
Australia is a low interest rate nation isn't?

Wrong, our interest rates are significantly higher than most OECD nations. 10 yr govt bond rate for Australia is 5.27%, Sweden is 3.39%, Denmark is 3.45%, the Euro area is 3.46%. I will leave any comparison with Japan out because of specific issues to counter deflation in Japan.

Well our economy is grower stronger than most isn't?

True we have had good growth but the current growth rates do not match countries like Denmark and Sweden. Ours for 3rd quarter was 2.6%, Denmark was 4.8% and Sweden was 3.4%.

What about inflation?

Ours was 2.8%, higher than the Euro area 2.4% and 0.6% in Sweden and 2.1% in Denmark

What about unemployment?

Our rate 5.3%, Sweden 6.1% and Denmark 5.1%.

People investing in Australia get better returns don't they?

Australian stockmarket went up by 11.6%, Denmark by 26.2% Sweden by 15.9%

Why are how interest rates higher than most other countries?

2 major reasons, firstly the high current account deficit -5.9% of GDP compared to Sweden +13.5% of GDP and Denmark +3.2% of GDP and the Govt Industrial Relations policy.

The govt has created a system where wages are going to be determined solely on supply and demand, there will be no overt regulation or institutional policies to link wage increases to labour productivity.

Exogenous shocks such as a resources boom coupled with historic underinvestment in skills formation by both the public sector and private sector means huge labour shortages with the only immediate term solution being higher wages and skill reductions in other sectors of the economy, hence less productivity and less competitiveness. Wage growth in Australia was 6.1% this is significantly higher than inflation + labour productivity.

What does this lead to?
Either higher prices or lower profits.